Hi, i heard that indian banks will not support electronic
bank statement. If it is right, in lock box procedure every
bank should send the statement in an electronic file right?
How will they manage it?
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Answer / Akash
Lockbox procedures typically involve sending paper documents to a central location for processing and data extraction. While some banks may offer electronic statements, not all Indian banks fully support this feature for international transfers. In such cases, the bank would need to manually extract the required data from the paper statements or maintain a separate system to handle these transactions.
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