Categories: Banking

Union Bank of India launches Online Platform ‘Trade nxt’

The Union Bank of India (UBI) has launched an online platform, ‘Trade nxt’, which enables corporate, and MSMEs (Micro, Small & Medium Enterprises) to transact all cross-border export-import transactions from the comfort of their place, i.e. eliminates the need for companies to visit a bank branch for the same. It offers seamless entry and processing of letters of credit (LC), bank guarantees, export/import bills, disbursement of export credit, outward & inward remittances, dealer financing etc.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

About the ‘Trade nxt’ platform:

‘Trade nxt’ platform will also enable the regulatory online auto reporting through Import Data Processing & Monitoring System (IDPMS), Export Data processing & Monitoring System (EDPMS) and other statutory reporting to Overseas Direct Investment (ODI)/ Foreign Direct Investment (FDI)/ Liberalised Remittance Scheme LRS) which will make the process much more convenient.

Important Takeaways For All Competitive Exams:

  • Union Bank of India Managing Director & CEO: Rajkiran Rai G;
  • Union Bank of India Merged Banks: Andhra Bank, and Corporation Bank;
  • Union Bank of India Headquarters: Mumbai, Maharashtra.

Find More Banking News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.

Recent Posts

Govt Infuses ₹500 Cr in IFCI to Boost Financial Health

The Indian government has decided to infuse ₹500 crore into the state-owned Industrial Finance Corporation…

2 mins ago

Top-10 Tourist Places in Uttar Pradesh, Check the List

Uttar Pradesh, a state in northern India, is home to many famous tourist attractions. From…

2 mins ago

Kejriwal Launches Dr Ambedkar Scholarship for Dalit Students Abroad

Arvind Kejriwal, the AAP supremo, unveiled the Dr Ambedkar Samman Scholarship, a scheme designed to…

29 mins ago

Govt Forms Committee to Assess IAF’s Capability Development Amid Rising Threats

The Indian Government has formed a high-level committee under Defence Secretary Rajesh Kumar Singh to…

1 hour ago

National Farmers Day 2024: Date, History, and Importance

National Farmers’ Day, celebrated annually on December 23, is a tribute to the backbone of…

1 hour ago

Justice Madan Lokur Appointed Chairperson of UN Internal Justice Council

Former Supreme Court Judge of India, Justice Madan B Lokur, has been appointed as the…

1 hour ago