HDFC Bank issues first Electronic Bank Guarantee of India

HDFC Bank issues first Electronic Bank Guarantee of India: HDFC Bank has become the first bank in India to issue an Electronic Bank Guarantee (e-BG) in partnership with National E-Governance Services Limited (NeSL).

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The new e-BG will eliminate the paper based and time-consuming process. It can be processed, stamped, verified and delivered instantly with enhanced security. HDFC Bank will migrate to eBG platform completely in order to expedite the issuance of BGs for customers.

MD & CEO of NeSL: Debajyoti Ray Chaudhuri