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India's first electronic bank guarantee
September 16 , 2022
802 days
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- The HDFC Bank, became the first bank in the country to issue an Electronic Bank Guarantee (e-BG).
- e-BG was launched in collaboration with the National E-Governance Services Limited (NeSL).
- It removes the need for the paper-based time-consuming process.
- This often takes 3 to 5 days for complete due to the need for physical pick up from the bank, delivery of courier to the beneficiary, stamping and reverification.
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