Guwahati: Union Bank of India (UBI) has announced the launch of "Trade nxt', an online platform for providing comprehensive cross-border trade finance services to Indian exporters and importers, stated a press release. The platform allows for the smooth entry and processing of letters of credit, bank guarantees, export/import bills, export credit disbursement, outbound and inbound remittances, dealer financing, and other transactions.
The platform will enable regulatory online auto reporting via Import Data Processing & Monitoring System, Export Data Processing & Monitoring System, and other statutory reporting relevant to ODI, FDI, and LRS transactions, making the procedure considerably more straightforward, according to the statement.
FIRST Business Portal addressing the potential of business capability of North East Region.
