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Factoring provides resources to financing receivables as well as facilitates the collection of receivables. Although such services constitute a crucial segment of the financial services scenario in the developed countries, they appeared in the Indian financial scene only in the early nineties as a result of RBI initiatives. There are two bank sponsored organisations which provide such services: (i) SBI factors and Commercial Services, and (ii) Canbank Factors Ltd. The first private sector factoring company, Foremost Factors Ltd, started operations since the beginning of 1997.

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