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Punjab & Sind Bank launches e-Bank Guarantee facility

Published on November 04, 2024
Current Context: On November 3, 2024, Punjab & Sind Bank (PSB) launched an e-Bank Guarantee (e-BG) facility in partnership with National e-Governance Services Ltd (NeSL).
Punjab & Sind Bank launches e-Bank Guarantee facility
  • This new system replaces traditional paper-based bank guarantees with e-stamping and e-signatures, enhancing security, transparency, and efficiency.
  • The initiative aims to reduce fraud, save time, and improve the ease of business for applicants and beneficiaries.
  • Swarup Kumar Saha, MD & CEO of Punjab & Sind Bank, expressed delight in joining hands with NeSL for this facility, highlighting its potential to curb frauds and reduce turnaround time.

Question:

1 Which organization has Punjab & Sind Bank partnered with to launch the e-Bank Guarantee (e-BG) facility?

  • A) RBI
  • B) Ministry of Finance
  • C) National e-Governance Services Ltd (NeSL)
  • D) SEBI
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