About Inland Trade through Bank
What is Inland Trade?
Inland trade is also known as domestic trade or home trade or domestic trade. It involves the process of exchanging domestic goods within the boundaries of a nation. Such a type of trade may be divided into two categories which are retail and wholesale. The wholesale trade mainly consists of purchase of goods from the producers or dealers or manufacturers in large quantities and then selling them to the others in smaller quantities. The people to whom these goods are sold may be are the consumers or the retailers. The wholesale commission agents or the wholesale merchants are the ones who undertake the wholesale trade. Retail Trade on the other hand consists of the sale of goods in quantities that are small. The goods are sold to the consumers. Such a type of trade is carried out by the retailers. Actually in practice, however, wholesalers as well as manufacturers may also be undertaking retail distribution of products in order to bypass the intermediary retailer so that they can earn higher amount of profits.
Importance and Role of Inland Trade
The significance of inland trade for a nation is that it helps in the facilitation of exchange of goods inside the nation. Such a type of trade makes sure that there is growth of the economy taking place by the factors of production reaching the right places. The standard of living of the people of the nation and also the employment rate of the nation is improved when the various types of goods as well as services are allowed to reach all the parts of the nation. The availability of raw materials is also ensured which helps in the country’s industrial growth. Traders who are present outside the nation will get opportunities of coming in contact with the country’s internal traders as it is not simple to directly come into another nation and get the products that are needed.
Process of Inland Trade through Banks and the Role of Banks in Inland Trade
A comprehensive range of Inland Trade services are offered by the various commercial banks. These services include financing the vendors as well as the suppliers and also financing the dealers. The solutions are structures and customised to suit the particular requirements of a business.
- Inland Letter of Credit Issuance
The Banks issue the “Inland Letter of Credit Insurance” on the behalf of the customers that gives the customers advantages with their suppliers. The experts of the Bank also help in the drafting of the terms and conditions of the “Letter of Credit” in order to protect the interest of the customers.
- Inland Bill Discounting (Under Letter of Credit)
The finance is provided by the Banks by discounting the Inland bills of the customers which are drawn under the “letters of credit”. In case the documents are strictly in accordance with the terms of the conditions of the “Letter of Credit” and after receipt of the acceptance from the issuing bank of the “Letter of Credit”.
- Inland Bill Discounting (Not under Letter of Credit)
The Bank also provides financing for the bills of the customers against the terms of acceptance and to the extent of the customer’s credit limits that have been sanctioned for helping in the improvement of the cash flows of the customers.
- Bills for Collection
By way of routing the bills through the Banks, the customers fewer delays as far as receipt of payment is concerned, they receive MIS which is customised. This is integrated to the ERP systems of the customers so that they gain more control of their trade receivables and the management of cash flow is efficient.
About Inland Trade through Bank Course
The course will be teaching you what inland trade is and what role is played by the commercial banks in the case of inland trade. By pursuing this course you will be learning about the different types of Inland Trade, the way in which the transfer of goods occurs, documents that will be involved in the process of Inland Trade, the way in which the goods will be shipped, the agreement of sale as well as the various terms of payment that are involved in Inland Trade. The next section particularly deals with the role that is played by inland trade. This section will be covering the basic distinctions that exist between the Buyer Banks as well as the Seller Banks, Inward Banks as well as Outward Banks, the mode of payments that are used along with the documents against payment, etc.
Objectives of the Course
The “Inland Trade through Bank” comprises the following objectives –
- To be able to understand the meaning of Inland Trade
- The key terminologies as well as the documents that form a part of Inland Trade
- Role that is played by Commercial Banks in the process of Inland Trade
The curriculum for the “Inland Trade through Bank” consists of the following sections –
Introduction – This section introduces the participants to the course and consists of a number of sub-sections which are as follows –
- What is an Inland Trade?
- Documents that are a part of Inland Trade
- What is the importance of Time Frame?
- Inland Trade by means of Banks
- What is “Inward Bill Collections”?
- What are the “Documents Against Acceptance”?
- What is the mode of making payment?
- How the funds that are collected credited to the account of the seller?
- Bills that remain unpaid
- How is the repayment of the “Working Capital Loans” done?
- Detailed in Document Acceptance
What are the requirements/pre-requisites?
The pre-requisites for the “Inland Trade through Bank” course consists of the following –
- A basic understanding with respect to money
- The person should also possess a passion for learning about the operations of commercial banking
Target Audience for this training
The target audience for the “Inland Trade through Bank” course consists of the following people –
- Any other person who wishes to have an understanding related to the evolution of Banking
FAQs – General Questions
- I am new to this course of “Inland Trade through Banks”. What are the difficulties that I will be facing when undertaking this course?
You will not be facing any difficulties while undertaking the course “Inland Trade through Bank” even though you are new to the course. The reason behind this is that the course starts right from the scratch, assuming that you do not have any prior knowledge related to the topic. That is why you will be learning all the concepts from the very beginning and no previous knowledge is necessary. However, it is important that you possess a passion for learning about the different operations that are performed by the commercial banks, besides, this if you have certain knowledge related to money also, it will be of help to you while pursuing this course.
- What are the different things that this course will teach me?
The course will be teaching you about the various aspects of Inland Trade, what it is, the role that is played by the commercial banks in case of inland trade. By undertaking this course you will also come to know about the various kinds of Inland Trade, the ways which can be used for the transferring of goods, documents that form a part of the inland trade, the mode of shipment that is used for the goods, the sale agreement along with the different terms of payment that are a part of Inland Trade. The second section will be dealing with the roles that Inland Trade plays specifically. The basic differences that exist between the inward Banks and Outward Banks, Seller Banks and Buyer Banks as well as the payment modes used and the documents against payment, etc. will be covered as a part of this course.
- What are the career fields in which I can make use of the knowledge that I gain from this course?
The career fields where you can make use of the knowledge that you gain as a part of this course consist of mostly banks and the other financial services. The knowledge gained will be useful to you in understanding the transactions that take part in “Inland trade through banks” and also the procedure to be followed along with the documents that are needed for the process of “Inland Trade through Bank”.
I have had a very wonderful experience with eduCBA so far in all the courses that I ahve undertaken through this website. The journey for me has been very enriching especially with respect to the last course that I pursued from this website which was about “Inland Trde through Bank”. I have keen interest in the Banking sector and have been carrying out a well guided research on this sector. With the help of eduCBA I was able to learn more about the practical applications of a number of concepts. I am looking forward to undertake a few more courses related to the Banking sector from this website. All the things were explained in a very elaborate way on this website and all the study material as well as the videos cover all the aspects in detail. There is also a provision to take assistance from the experts if needed. It is a one stop solution for learning everything.
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Career Benefits of this training
Low Budget and Very Useful
The “Inland Trade through Bank” is very useful course if you are looking to make a career in the financial sector and especially in the commercial banking sector. It helps you in thoroughly understanding the concept of inland trade which takes place through the Banks as well as the documents that are required for it. at the same time, this course is offered at a very low cost by the eduCBA website. The low budget if the training makes pursuing this course highly economical and the practical knowledge gained and the uses to which it can be put to are the additional benefits that accompany it.
Elaborate and in-depth information
The information that this course offers is very elaborate and gives the participant an in-depth understanding of the topic. It covers all the aspects from the scratch. As a result of undertaking this course, the participants will be able to get an understanding of the meaning of Inland Trade. They will also be learning about the main terminologies related to Inland Trade and the documents that will be used in the process of Inland Trade. The participants will also be able to gain a detailed knowledge about the role which the commercial banks play in case of Inland Trade. Thus, overall the course will be providing the participants with information that is very elaborate and useful.