Yes Bank made history when it was the first Indian bank to use the International Trade Financing Services Platform (ITFS) developed by RXIL Global IFSC Limited to facilitate an export financing transaction.
For YES BANK, this partnership represents a giant leap forward in terms of digitalization and international trade.
This digital platform provides trade financing services such as factoring and forfeiting as well as other forms of credit at low rates and with quick processing. It is registered by the International Financial Services Centres Authority (IFSCA). There has never been a transaction like this on the ITFS platform in association with an Indian bank before.
Yes Bank
A Joint Venture for International Trade Funds
- Digitalization and international trade are priorities for YES BANK.
- Providing a digital platform for international exporters and importers to get finance.
- Making use of trade financing services such as factoring and forfeiting.
Relevant Stakeholder Perspectives
The strategic milestone is emphasized by Mr. Ajay Rajan, the Country Head at YES BANK.
Director of RXIL Global IFSC Ltd., Mr. Ketan Gaikwad, highlights revolutionary transformation in international trade financing.
Causes and Effects of International Money Transfers
- Representing the dawn of a new age in international money transfers.
- Supplying international businesses with an effective and trouble-free platform.
- Supporting the expansion and improvement of companies both in India and around the world in line with the goals of IFSCA.
