Private sector lender ICICI Bank has revamped its online platform for export and import transactions.
“The upgraded version of Trade Online offers a digital banking platform to enable companies carry out most of their export-import transactions online, eliminating the need for physical documentation,” ICICI Bank said on Wednesday.
Services, including issue of letters of credit (LC) and bank guarantees, export and import collection bills, disbursement of export credit, and payments against imports, can be done on the platform.
It also includes specialised solutions such as ‘e-Softex’ for the software industry and e-LC facility for large exporters.
It is also the first digital banking platform to offer credit of inward remittance within minutes to the ICICI Bank current account of the recipient