- The Electronic Bank Guarantee (e-BG) was launched on the 117th Foundation Day of the Canara Bank.
- The e-BG platform will provide greater transparency, secured transaction, and better trigger monitoring, leading to higher compliance.
- In addition, the platform will also provide an API-based digital workflow of bank guarantee that will eliminate physical issuance, verification, stamping, and paper-based record maintenance.
- At the launching event, the bank said that the e-BG platform will pave the way for integrating the Environment and Social Governance (ESG) framework into business.
- Canara Bank is a financial services company established in 1906 with its headquarters in Bengaluru. The current MD & CEO of the bank is LV Prabhakar.
Question:
Q.1 Which of the following bank launched the Electronic Bank Guarantee (e-BG) platform in collaboration with the National e-Governance Services Limited (NeSL)?a. HDFC
b. IDFC First
c. ICICI
d. Canara
