This certification is essential for all members of a Bank Trade Finance Department. The syllabus covers key aspects required by team members to effectively discharge their duties. Trade Finance is one of the traditional forms of bank finance in India. In view of reforms and liberalisation, this has gained a new significance. Many of the practices in trade finance have evolved over a period of time and some are guided by Ministry of Commerce and Reserve Bank of India, besides WTO and International Chamber of Commerce through UCPDC 600. With the increase in the volume of trade both domestically and internationally, there is a need for trade finance professionals from banks as well as corporates. The Objectives of this IIBF Examination is as under: (i) To provide candidates with competencies required to function as trade finance practitioners. (ii) To enable candidates to possess the ...
The primary objective this IIBF course is to make the branch officials familiar with the FEMA provisions that impact their day to day functioning at the branch level. This exam is being introduced pursuant to the recommendation of a committee of RBI. Normally foreign exchange transactions pertaining to individuals are handled at branches only and are not referred to specialised forex cells. The course covers ‘Foreign Exchange Facilities for individuals under FEMA1999’ RBIs FAQs’ on Forex Facilities for Residents (Individuals) (updated up to November 21, 2014) For full details refer to Reserve Bank of India website: Introduction : The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, 1999. Un...
NPCI vide circular No 177, dated July 28 th , 2016, informed the Banking community that the APB Return Code NO 3 – Account Description does not tally is removed from the valid return reasons. As the participants have to make necessary changes in their Software, the effective date of this circular is September 1 st , 2016. It may be noted that the ‘Beneficiary Name’, is an Optional field and the Sponsor Bank may choose NOT to incorporate the Beneficiary Name in the input field. NPCI has observed that few banks are mapping the return records of ‘Aadhaar not mapped to the account number’, to ‘Account Description Does Not Tally’. This was leading to unnecessary confusion and customer complaints. ...
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