ICICI Bank Introduces Enhance ‘Trade Online,’

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ICICI Bank has introduce enhance ‘Trade Online’ platform for export/ import transactions dedicated to MSMEs, small sized, medium and large corporates. ‘Trade Online’ is a compelling digital banking platform that enables MSMEs as well as corporates to undertake almost all their export-import transactions online, eliminating the requirement of physical documentation. It brings in significant convenience for customers as they are no longer required to visit a bank branch to initiate a trade transaction. Customers can now do export-import transactions from anywhere, anytime in a secure manner. Additionally, it is the first digital banking platform to offer quick and convenient credit of inward remittance within minutes to the ICICI Bank current account of the recipient.
‘Trade Online’ is the only digital banking platform for trade transactions that provides a bouquet of comprehensive solutions in one single place. The list of services that can be initiated and executed digitally on ‘Trade Online’ include issuance of letters of credit(LC) and bank guarantees, export/import collection bills, disbursement of export credit, payments against imports among others. It also includes specialised solutions like ‘e-Softex’ for the software industry and e-LC facility for large exporters among others. Further, ‘Trade Online’ is now integrated with the regulatory Import Data Processing & Monitoring System (IDPMS) and Export Data processing & Monitoring System (EDPMS). This integration offers exporters/importers the convenience to regularise their Bills of Entry digitally by matching payments made against outstanding entries on EDPMS/IDPMS.

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