18 Feb 2019 | 2:41 AM

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COMPANYNEWS
Intellect Design implements finance platform for BOB
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Published on 01-18-2018
Intellect Design Arena Limited has said that Intellect Global Transaction Banking (iGTB) the transaction banking and technology specialist from Intellect Design Arena Limited has implemented a comprehensive supply chain finance platform for Bank of Baroda India’s International Bank.


With a USD 418 billion finance gap in the Indian SME sector alone the roll-out of the digital platform will extend new financing and working capital opportunities to the bank’s numerous clients – and their partners – expected to boost the number of digital transactions across the nation. Prime Minister Narendra Modi’s “Digital India” initiative – which aims to drive economic development through wideranging digital transformation across the country – has set an ambitious target of reaching 25 billion digital transactions in 2017-18.


Furthermore increasing trade across a country rapidly establishing itself on the global stage is a high priority – India’s exports of USD 261 billion are up by 47.7 per cent since 2009 and its internal trade as a proportion of GDP is at a healthy value of 54 per cent.


Meanwhile shares of the company were trading at Rs 190.05 apiece up 0.82 per cent from the previous close at 09:27 hours on BSE.