RBL Bank launches electronic Bank Guarantee on NeSL platform

Current Context: RBL Bank has launched an electronic Bank Guarantee on the NeSL (National E-Governance Services Ltd) platform on 20th December 2023.

• NeSL is India’s first Information Utility and is registered with the Insolvency and Bankruptcy Board of India (IBBI) under the aegis of the Insolvency and Bankruptcy Code, 2016 (IBC).
• The electronic Bank Guarantee (e-BG) process is made simpler with NeSL’s Digital Document Execution (DDE) technology, which includes e-Stamp and e-Sign features.
• Beneficiaries using NeSL’s platform will receive an e-Bank Guarantee right away and without further verification.
• This digital transformation aims to make the process more efficient and secure.

Question:

Q.1 What did RBL Bank launch on the NeSL platform?
a. A new credit card
b. A new savings account
c. An electronic Bank Guarantee
d. A new loan scheme