- It provides a hassle-free experience and various services for all enterprises who were enable to conduct all export-import transactions, they can get a letter of credit, bank guarantees, export/import bills, outward and inward remittances, and many other things in a single platform.
- It ensures better governance and also saves time for companies to visit the bank branches to initiate trade transactions.
- This platform also enables a user-friendly experience for regulating online auto reporting through Import Data Processing & Monitoring Systems, Export Data Processing & Monitoring System, and many other reporting systems which are linked to different transactions.
- Apart from that, It includes many key features like digital transactions around the clock, payment reminders, payment due dates, etc.
- This kind of platform will bring a revolutionary change to export and import sectors with enhanced security and controls.
- Static part:
- Union Bank of India MD & CEO: Rajkiran Rai G
- Merged Banks: Andhra Bank, and Corporation Bank;
- Headquarters: Mumbai, Maharashtra.
Question:
Q.1 Which among the following has launched the Tradenxt platform for export/import sectors?a. State Bank of India
b. Union Bank of India
c. Canara Bank
d. Bank of Baroda
