Punjab & Sind Bank Launches e-Bank Guarantee Facility
Punjab & Sind Bank introduces e-Bank Guarantee (e-BG) facility in partnership with NeSL, replacing paper-based BGs with e-stamping and e-signatures. This digital initiative aims to enhance transparency and streamline the verification process for beneficiaries.
New Delhi, Nov 1 (PTI) State-owned Punjab & Sind Bank on Friday said it has launched e-Bank Guarantee (e-BG) facility in partnership with National e-Governance Services Ltd (NeSL) that replaces the paper-based BG issuance process with e-stamping and e-signatures.
With the secured transmission and enhanced transparency, beneficiaries will save efforts and time in the verification of physical BGs.
"It is a matter of delight to join hands with NeSL for the e-BG facility," Punjab & Sind Bank MD and CEO Swarup Kumar Saha said.
It is a landmark step towards enhancing the ease of business for applicants and beneficiaries, he said, adding that it will not only reduce the TAT (turnaround time) but also be a game changer to curb the frauds and inconvenience caused on the physical movement of documents.
With the secured transmission and enhanced transparency, beneficiaries will save efforts and time in the verification of physical BGs.
"It is a matter of delight to join hands with NeSL for the e-BG facility," Punjab & Sind Bank MD and CEO Swarup Kumar Saha said.
It is a landmark step towards enhancing the ease of business for applicants and beneficiaries, he said, adding that it will not only reduce the TAT (turnaround time) but also be a game changer to curb the frauds and inconvenience caused on the physical movement of documents.
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