MUMBAI, India, March 14 -- Intellectual Property India has published a patent application (202617009329 A) filed by Tessema, Ameha, Tefera, Addis Ababa, Ethiopia, on Jan. 29, for 'commission agent banking system (cabs-at).'
Inventor(s) include Tessema, Ameha, Tefera.
The application for the patent was published on March 13, under issue no. 11/2026.
According to the abstract released by the Intellectual Property India: "A method, system and product program for a Commission agent banking system (CABSAT) to be adopted by a bank to be an agent or to be deployed in a full-fledged bank to be an agent for investors or depositor's revolving or non-revolving lending money, which can be physical or digital money, through online or offline banking to entrepreneurs/borrowers or on projects already financed by bank having established loan contractual agreement among the fund sellers/investors and fund buyers/entrepreneurs/borrowers and the agent bank (CABS-AT) itself to collect an agreed commission on loan price."
The patent application was internationally filed on Aug. 21, 2024, under International application No.PCT/IB2024/000495.
Disclaimer: Curated by HT Syndication.
