Trade Finance

Inward Remittances

Objective

Typically Inward Remittance is a process through which a Foreign Bank or Company transfers funds to a Domestic Bank in the home country. The Bank acts as a paying Bank for its Overseas Branch and corresponding Banks in accordance with the payment instructions of the Overseas Remitter.  

The LMCC system automates the incoming swift messages (MT 103 & MT 202) into the application and enables central processing unit to allocate/send messages to respective branches for processing advice. Branches have the provision to generate all reports/customer advices/vouchers etc. The system also tracks unprocessed messages and helps in accelerating processing of transactions.

Features

  1. Overseas Bank Master
  2. Purpose Code Master
  3. Inward Transaction Details
  4. PCFC Liquidation (Inward)
  5. Customer Advice Voucher
  6. File Creation (RTGS Message)
  7. Inward Remittance Register Report
  8. MIS Reports
  9. FIRC Reports
  10. Audit Trail

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