Question
With reference to the Global Trade Finance Centres
(GTFCs) recently launched by the State Bank of India (SBI), consider the following statements: 1. The GTFCs have been inaugurated in Kolkata and Hyderabad. 2. These centres will adopt advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), and blockchain for trade finance. 3. The main objective is to replace paper-based trade finance operations with fully digital systems, thereby improving efficiency and compliance. Which of the statements given above is/are correct?Solution
• Statement 1 is correct: The SBI inaugurated Global Trade Finance Centres (GTFCs) in Kolkata and Hyderabad, strengthening its trade finance network. • Statement 2 is correct: These centres will integrate AI, ML, blockchain, and document digitisation technologies to modernize trade finance operations. • Statement 3 is correct: The core purpose is to move away from paper-based processes to fully digital systems, ensuring better efficiency, regulatory compliance, and customer experience. Thus, the correct answer is (d) 1, 2 and 3
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