Axis Bank issues first LC on dedicated govt-backed platform

The deal involved ArcelorMittal Nippon and the bank's client Lalit Pipes & Pipes Limited (LPPL). The bank released an LC on behalf of LPPL, which required such a non-fund-based credit line for a business transaction with ArcelorMittal Nippon Steel, India (AM/NS). The entire deal was executed digitally on the platform.

from Banking/Finance-Industry-Economic Times https://ift.tt/3ncoasy