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RBL Bank launches electronic Bank Guarantee on NeSL platform

Published on December 21, 2023
Current Context: RBL Bank has launched an electronic Bank Guarantee on the NeSL (National E-Governance Services Ltd) platform on 20th December 2023.
RBL Bank launches electronic Bank Guarantee on NeSL platform
  • 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

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