HDFC Bank issues India’s first Electronic Bank Guarantee (e-BG)

HDFC Bank issues India’s first Electronic Bank Guarantee (e-BG) – HDFC Bank has issued an electronic bank guarantee (e-BG) to simplify the process and eliminate the possibility of fraud and manipulation with the help of National E-Governance Services Ltd (NeSL). HDFC Bank becomes the first bank in the country to do so. e-BG will be issued on the NeSL portal through an API-based digital workflow.

• e-BG replaces Paper-based and time-consuming processes and the Bank will migrate to eBG to benefit all its customers.
• NeSL, CVC-CBI committee and IBA developed e-BG, aiming to simplify the process and eliminate the possibility of fraud and manipulation.

American Express Banking Corp appoints Sanjay Khanna as CEO

• American Express Banking Corp (AEBC) has appointed Mr Sanjay Khanna as the chief executive officer (CEO) and country manager, AEBC Corp.
• He will play an important role for spearheading strategic and business development initiatives for the company and strengthening the company’s strategic focus in India.

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