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Indian Bank Becomes 1st PSB to Extend Online Locker Agreement

Published on August 21, 2023
Current Context: Indian Bank’s online locker agreement execution through the DDE platform of NeSL,aims to enhance customer convenience and reduce the turn-around time of the agreement execution.
Indian Bank Becomes 1st PSB to Extend Online Locker Agreement
  • The Indian Bank is the first public sector bank to extend the facility of execution of online locker agreement through the Digital Document Execution (DDE) platform of National E-Governance Services Limited (NeSL) .
  • The DDE platform is a fully automated contract execution platform with paperless e-stamp and electronic signature (e-Sign) facility. The e-Sign facility includes Aadhaar-based (OTP/Biometric) and dongle-based digital signature.
  • The platform offers individual and multiple signatories to execute documents in sequence, which will facilitate joint account holders also to execute onlocker agreement at their ease. Customers can track transaction status and download the electronic evidence (65B) certificate in real-time.
  • The online locker agreement, which is available round the clock, will eliminate the need for physical stamp papers and signatures, making it faster and more efficient. The Indian Bank has announced that this facility will be available for all its customers across India.

Question:

Q.1 Which public sector bank is the first to extend the facility of execution of online locker agreement through the DDE platform of NeSL?
a. State Bank of India
b. Punjab National Bank
c. Indian Bank
d. Bank of Baroda
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