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NeAS: NeSL Enterprise Access Solution is a secure API based solution developed with the objective of facilitating the beneficiaries and applicants to manage e-BG's in large volumes and initiate lifecycle event actions, from issuance to closure in their own IT systems.
Launched in November 2023, NeAS is designed for large enterprises, especially PSUs, government departments, and corporates - to integrate their internal systems with NeSL’s central e-BG platform. It allows end-to-end management of Bank Guarantees, including issuance, amendments, renewals, cancellations, and invocation, directly from enterprise platforms without using an external portal.
| Sr.No | API | Description |
|---|---|---|
| 1 | Notification_API | This API will be published by the clients who are consuming the DDE e-BG service, and NeSL will trigger this API when an e-BG event is executed using the DDE application or a request is raised electronically through NeSL platform |
| 2 | Document_Pull_API | To fetch the e-BG details along with the document |
| 3 | Event_Request_API | To raise request for amendment, renewal, invocation, cancellation, closure etc |
“Indian Oil Corporation Limited has integrated with NeSL Enterprise Access Solution (NEAS) for managing Electronic Bank Guarantee (e-BG) as a part of the company's digital initiatives. Since the platform is integrated with Indian Oil internal system through API, all e-BG's are accessible across departments and this helps in managing complete e-BG lifecycle. NeSL platform for managing e-BG's provides greater transparency and facilitates flow of authentic e-BG information directly into our internal systems. Instant retrieval and digital storage of bank guarantees has helped save time and reduce cost. The platform also facilitates useful real-time e-BG notifications. As an integrated solution NEAS helps with ease of doing business and reduces the risks associated with physical Bank Guarantees”
As Stamp duty is a state subject and the charges vary from state to state. Bank will continue to follow their existing process to determine the stamp duty and share the same with NeSL in the DDE e-BG API request.
For foreign currency e-BG, the sanction amount (i.e. original e-BG amount of issuance) and sanction currency should be reported in foreign currency. Likewise, the total o/s amount and currency should be reported in foreign currency. However, the consideration price and stamp duty amount should always be in equivalent INR.
Foreign vendor and Indian beneficiary
Leg 1: The foreign vendor request bank in its own country. The foreign bank issues counter guarantee to bank in India (This leg is not covered in e-BG process of NeSL)
Leg 2: On the strength of counter guarantee from the foreign bank, the local bank in India issue BG to beneficiary in India. (This is covered in NeSL e-BG process)
Where subsequent request is raised by the beneficiary, bank will follow existing operational procedure and take appropriate steps and honour the request
Where e-BG is initiated through PP, then Portal ID, Contract Reference Number and other details mentioned in the challan should be captured correctly.
samirandas@nesl.co.in
NeSL is India’s first Information Utility and is registered with the Insolvency and Bankruptcy Board of India (IBBI) under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC).
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