RBL Bank launches Electronic Bank Guarantee on NeSL Platform

Debajyoti Ray Chaudhuri, MD & CEO of NeSL, said, “NeSL’s e-BG substantially transforms the trade finance space and marks a milestone in the digitization of the banking services. e-BG envisages online and paperless procurement of stamp duty and thus the e-BG can be issued digitally in a couple of minutes and is made available to beneficiary instantly in a secure, digital and paperless form. In an era of digitization, it is only natural that the Banks move towards digitization of their trade finance."

Commenting on the service, Rajeev Mishra, Chief Financial Officer, H G Infra Engineering said, “The electronic Bank Guarantee offering is extremely important for our industry. This solution will allow companies like us to get faster issuances and confirmation of bank guarantees while reducing therisk and operational challenges currently faced in paper guarantees."