The deal involved ArcelorMittal Nippon and the bank's client Lalit Pipes & Pipes Limited (LPPL). The bank released an LC on behalf of LPPL, which required such a non-fund-based credit line for a business transaction with ArcelorMittal Nippon Steel, India (AM/NS). The entire deal was executed digitally on the platform.source https://economictimes.indiatimes.com/industry/banking/finance/banking/axis-bank-issues-first-lc-on-dedicated-govt-backed-platform/articleshow/88809319.cms
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