HTC TRRACS – Trade Regulatory Compliance made easier for Banks
The Reserve Bank of India (RBI) has introduced an online trade regulatory system for the banks in India for monitoring their export and import transactions. The current applications used by banks for trade transactions are not fully compliant with RBI’s regulatory guidelines.
HTC Trade Regulatory Reporting And Compliance System (TRRACS) is the one stop solution that allows banks to continue with the existing business process and still be compliant to RBI regulatory requirement. TRRACS is a regulatory reporting and compliance system, which processes the data from bank’s existing system as per RBI guidelines and transforms the dataset into RBI compliant formats. It provides web interfaces for the banks to handle the processes that are not available in their existing trade system.
Key Business Benefits: