Recently an Online platform ‘Trade nxt’

Solution

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. 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)/ Liberalized Remittance Scheme LRS) which will make the process much more convenient. About Union Bank of India: India Managing Director & CEO: Rajkiran Rai G Merged Banks: Andhra Bank, and Corporation Bank Headquarters: Mumbai, Maharashtra