Bangalore, September 17, 2022: YES BANK, in partnership with NICDC Logistics Data Services Limited (NLDSL), has developed use-cases to support corporate users in augmenting their supply chain on the Unified Logistics Interface Platform (ULIP). This move is in line with the Bank’s endeavour to develop an end-to-end Digital Trade ecosystem in the country.
Under the aegis of PM Gati Shakti National Master Plan, the Government of India (GOI) has today launched its National Logistics Policy (NLP). A key initiative of this policy – ULIP – has been conceptualized to develop a logistics gateway by integrating information available with various Government agencies across the value chain and create a nationwide single window logistics platform for end-to-end visibility. This platform would have direct and indirect benefits to all stakeholders of the logistics ecosystem.
These unique use-cases developed by YES BANK can be utilized for the simplification of compliance, risk assessment, and approvals for trade finance transactions. Furthermore, the data points available on the ULIP platform will also be made available to the customers which can be leveraged by them for reducing the overall logistical cost and strengthening their supply chain.
Commenting on the development, Mr. Prashant Kumar, Managing Director and CEO, YES BANK said, “It is a matter of great pride and honour to be the first and only Bank partnering with ULIP, a key GOI initiative towards the development of digital platforms to support the logistics ecosystem in the country. The comprehensive and unified platform provided by ULIP will support in further augmenting supply chain and bringing the logistical cost down to support businesses, especially MSMEs.”
YES BANK is driving the transformational journey to digitisation through its solution-based product offerings and is developing a digital ecosystem for transaction management. The Bank also has a dedicated digital module, SMART Trade, which is a secured platform to perform trade transactions online.