IBDIC working on Letter of Credit on blockchain

According to Indian Banks' Association (IBA), Indian Banks' Digital Infrastructure Company (IBDIC) is working on implementing domestic Letter of Credit (LC) issuance on blockchain. According to Minister of State for Finance Bhagwat Karad, only a few banks are currently using blockchain technology The IBDIC, formerly known as Indian Banks' Blockchain Infrastructure Company (IBBIC), is a consortium of 18 banks

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ZN0wVJu
via IFTTT

Comments

Post a Comment

Popular posts from this blog

India's Paytm Payments Bank granted status upgrade

Image
Paytm Payments Bank, a niche bank that cannot lend on its own, had more than 64 million savings accounts and over 52 billion Indian rupees ($688.5 million) deposits, including savings accounts, current accounts and fixed deposits with partner banks at the end of March this year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3pJr1JN via IFTTT
Read more

Punjab and Sind Bank to sell KSK Mahanadi loans to ARCs

Punjab and Sind Bank, frustrated by the delay in resolving KSK Mahanadi Power's corporate insolvency, plans to sell its debt to asset reconstruction companies (ARCs). The bank has invited offers from ARCs for its loans to KSK Mahanadi Power and KSK Water Infrastructure. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zNAIE1p via IFTTT
Read more