MUMBAI:
The Indian Banks' Association (IBA) on Thursday launched a pilot project on trade finance, using the Structured Financial Messaging System (SFMS) format on the INFINET network connectivity provided by the Institute for Development and Research in Banking Technology (IDRBT), set up by the Reserve Bank of India (RBI).
State Bank of India, Union Bank of India, Central Bank of India, Canara Bank, Andhra Bank, ICICI Bank, HDFC Bank, IDBI, Standard Chartered Bank and Citibank N.A. have joined the project at the launch on Thursday by opening a few letters of credit and communicating through the network to the advising banks.
Printer friendly
page Send this article to Friends by
E-Mail
