Explanation:

Trade Receivables Discounting System (TReDS) platform

• It is an electronic platform for facilitating the financing/discounting of trade receivables of Micro, Small, and Medium Enterprises (MSMEs) through multiple financiers. 

• These receivables can be due from corporates and other buyers, including Government Departments and Public Sector Undertakings (PSUs).

• Purpose: To allow MSME sellers to discount invoices raised against major corporations, which helps them manage their working capital demands. The platform enables MSMEs to receive payments more quickly.

Participants

• Sellers, buyers, and financiers are the participants on a TReDS platform.

• Only MSMEs can participate as sellers in TReDS.

• Corporates, Government Departments, PSUs, and any other entity can participate as buyers in TReDS.

• Banks, NBFC - Factors, and other financial institutions, as permitted by the RBI, can participate as financiers in TReDS.

Hence both statements are correct.