SWIFT INTERNATIONAL PAYMENT MECHANISM IN IDBI BANK LTD

Nikhil Pande , Sakshi baheti , Rushikesh Muluk

SWIFT payment system , International trade ,Financial messaging , Trade finance , Blockchain integration

**Abstract** This report presents a concise overview of the SWIFT payment system, highlighting its operational mechanisms, associated challenges, emerging trends, and key learnings from an internship at IDBI Bank. SWIFT plays a vital role in secure and standardized communication among financial institutions worldwide. The system mandates rigorous assessment and ongoing compliance to ensure institutional reliability and operational integrity. Key message types, such as Letters of Credit and Bank Guarantees, support the facilitation of international trade. Despite its benefits, SWIFT faces issues like high operational costs and transaction delays. Future advancements are expected through blockchain integration and faster payment solutions. The internship experience provided valuable exposure to SWIFT message management, Alliance sessions, and trade finance processes, offering insights into optimizing efficiency, enhancing cybersecurity, and adapting to evolving global financial demands.

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"SWIFT INTERNATIONAL PAYMENT MECHANISM IN IDBI BANK LTD ", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol.10, Issue 4, page no.a303-a367, April-2025, Available :https://ijsdr.org/papers/IJSDRTH01005.pdf

Volume 10 Issue 4, April-2025

Pages : a303-a367

Paper Reg. ID: IJSDR_302173

Published Paper Id: IJSDRTH01005

Downloads: 000294

Research Area: Commerce All

Country: Pune, Maharashtra, India

Published Paper PDF: https://ijsdr.org/papers/IJSDRTH01005

Published Paper URL: https://ijsdr.org/viewpaperforall?paper=IJSDRTH01005

ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Publisher: IJSDR(IJ Publication) Janvi Wave

This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition