Sonal Kumari

• Issuance of inland and import LCs. Advising of LCs issued by different banks
• Monitoring of documentations and processes of transactions according to UCPDC-600 and URC-522.
• Performing EDD (enhanced due diligence) on client’s based on their ratings and nature of transactions.
• Discounting of bills presented under LC: both sale and purchase LCs.
• Keeping tracks of discounted bills to be rolled over for increasing profitability and flexibility to client.
• Monitoring of funds to be received from buyer’s bank on due date for knocking off bills from bank’s end.
• Keeping track of payments to be made from bank’s end on due date to seller’s bank on behalf of customers.
• Rollover and payment of Inland & Import bills
• Handling inland transactions including factoring
• Honoring documents received from seller’s bank and sending intimation on time according to guidelines of URC-522 and UCPDC 600.
• Handling export transactions like GR waiver/approval as per RBI Master Direction on Export of Goods and Services.
• Performing various types of enhanced and advanced due diligence according to client’s rating and nature of transactions.
• Processing of outward remittances – direct, A2 and advance.
• Filing of ECB2 within first seven banking days of every months of multiple customers.
• Preparation of documents under LC and documents under collection (without LC) to be sent to buyer’s bank.
• Assisting developer teams (IT) to develop new interfaces to smoothen transactions of clients and adoption of digitization resulting in less branch visits.
• On boarding of clients on digital platforms and educating them about various online interfaces offered by bank.

Be updated on Bank’s international and domestic compliance policies & procedures and regulations related to trade finance.

Key Achievements:

• Successfully liaised with IT team in testing of import module developed as part of internal IT software and suggested changes which were then implemented and currently functional.
• Pan India leading employee to on-board customers on iDSC (Digital Signature Certificate)