Punjab & Sind Bank launches e-bank guarantee facility 

Punjab & Sind Bank (PSB), a public sector bank, has launched e-Bank Guarantee (e-BG) facility in partnership with National e-Governance Services Ltd (NeSL). This new facility replaces paper-based BG issuance process with stamping and signatures. 

With secured transmission and enhanced transparency, beneficiaries are saved of efforts and time in verification of physical BGs.

Swarup Kumar Saha, MD & CEO, Punjab & Sind Bank said, “It is a matter of delight to join hands with NeSL for e-BG facility”.

It is a landmark step towards increasing ease of business for applicants and beneficiaries. It will not only reduce the TAT (turnaround time) but also will be a game changer to curb the frauds and inconvenience caused on physical movement of documents, he said.

Debajyoti Ray Chaudhuri, MD & CEO of NeSL said “NeSL’s e-BG is paperless and available in a digital form to the beneficiary of an e-BG on registration on the NeSL’s portal. The process of user registration is simple and one time”.



Source link

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *

Verified by MonsterInsights