Starting from morning today I was trying to understand Inland Letter of Credit (ILC). A single window operator with 25 year experience(a person who is allowed to transact up to Rs. 35,000 at there own seat along with there own work - This is done to reduce the queue in front of cash windows) started to teach me concept of ILC. He told me all the formalities to be done in respect of ILC. Then I get to know a new concept in LC system which is called UBD (Usanse bills discounting). I made some vouchers myself for the UBD in evening.
Bye Bye
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