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Indian Bank and NeSL Collaborate to Introduce Digital Services

Published on July 04, 2023

Current Context: Indian Bank has launched new digital services under its Project WAVE initiative, which aims to provide a world of advanced virtual experience to its customers.

Indian Bank and NeSL Collaborate to Introduce Digital Services

  • One of the services is an electronic bank guarantee (e-BG), which is a digital alternative to the traditional paper-based process of issuing and delivering bank guarantees.
  • The e-BG service is powered by National E-Governance Services Ltd (NeSL), which is India’s first information utility for insolvency and bankruptcy cases.
  • The pre-approved business loan facility will enable customers to avail loans up to Rs 25 lakh with hassle-free processes.
  • The Project WAVE was first launched in January 2022 by Indian Bank’s Managing Director and CEO S L Jain, and has since introduced various digital products and services to enhance the banking experience of its customers.

Question:

Q.1 What is the name of the digital transformation initiative launched by Indian Bank?
a. Project NEXUS
b. Project NEON
c. Project DIGI
d. Project WAVE
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