Yes Bank has entered into partnership with Welspun Global Brands (WGBL) –a subsidiary of Welspun India to facilitate Industry-first Electronic Presentation of Export Documents. WGBL has yearly export flows of $700 MM. With this transaction, Yes Bank becomes 1st Indian Bank to facilitate Electronic Presentation of Export Documents.
The electronic documentation of International Trade e-presented through a digital platform built by UK-based Bolero International will replace the need to exchange physical documentation, thereby reducing turn-around-time from 10 days to real-time for all parties involved, while establishing a precedent for faster, secure, cost-efficient settlement of cross border trade, resulting in optimization of working capital.
Welspun India is one of the largest manufacturers and exporters of bed & bath textile products globally. The company’s portfolio comprises wide range of home textile products such as terry towels, bed linen (basic bedding and decorative bedding) rugs and bathrobes.