YES Bank has collaborated with National E-Governance Services Limited (NeSL) to issue its first electronic Bank Guarantee (e-BG). The integration of their digital document execution (DDE) platform has made it possible to completely digitize the previous paper-based process of issuing and maintaining Bank Guarantees. This includes the digital stamping and signing, which has significantly reduced the time it takes to issue Bank Guarantees.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
According to a statement, the NeSL platform will handle the complete lifecycle of the bank guarantee, including its issuance, amendment, invocation, and cancellation. This will allow trade finance stakeholders to securely access the documents from a single repository. YES Bank’s collaboration with NeSL is consistent with its efforts to work with public digital utilities such as Central Bank Digital Currencies (CBDC), Open Network for Digital Commerce (ONDC), Account Aggregator (AA), and Government e-Marketplaces (GEM) to facilitate digitization and simplify business operations for small and medium-sized enterprises (MSME) and corporate customers. When an e-BG is issued through NeSL’s 24×7 platform, it becomes immediately accessible, and the beneficiary can access it by completing a simple, one-time registration process.
Important takeaways for all competitive exams:
You may also read this:
World Para Athletics has announced that Tashkent will host the 2027 World Para Athletics Championships.…
HDFC Life has approved the reappointment of Vibha Padalkar as the Managing Director and Chief…
Abhishek Sharma has delivered the exceptional performance and makes the new record for his century…
NASA has successfully completed the assembly of the Nancy Grace Roman Space Telescope at the…
Global rating agency Moody's has revised the India's economic outlook and cuts the FY27 GDP…
Arthur Law has been named the Young Global Leader (YGL) 2026 by the World Economic…