Kotak Mahindra Bank (KMBL) has partnered with National E-Governance Services (NeSL) to issue its first electronic Bank Guarantee (e-BG) on the latter’s platform. The tie-up enables the digitisation of Trade, thus helping eliminate paper-based issuance of Bank Guarantees.
The digitisation includes issuance, amendment, closure, digital stamping and signing, significantly reducing the Guarantee turnaround time (TAT) to a few hours compared to 2-3 working days for the paper-based process. The e-BG also mitigates the authentication risks.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
