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:
On the 1st of April India observed the foundation day of the Reserve Bank of…
Nuclear Energy plays an important role in India's electricity production. It is one of the…
The Coastal State of India Andhra Pradesh is set for the major administrative transformation as…
For the major leap in the advanced technology as the Andhra Pradesh will launch the…
The International Booker Prize 2026 has shortlisted the books and this are featuring the six…
April, starting month of the financial year, has many national and international events. From cultural…