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Transform your banking experience with the Electronic Bank Guarantee (e-BG) a fully digital alternative to traditional paper-based guarantees. Launched under the Ease of Doing Business initiative and developed in collaboration with the Indian Banks' Association (IBA) and Central Vigilance Commission (CVC), e-BG digitises, simplifies and speeds up the entire conventional paper based bank guarantee process.
e-BG streamlines operations, reduces costs, and enhances trust by acting as a single source of truth all with a few clicks.
Beyond just e-stamping, the entire Bank Guarantee (BG) document is digitally created and signed.
Digitally signed BGs ensure authenticity and prevent tampering.
Eliminates delays and errors associated with manual, paper-based workflows.
Supports existing BG documentation formats - no need for nationwide template standardization.
Not just issuance - amendments, renewals, closures, cancellations, invocations, partial claims, and even court injunctions are fully supported.
Speeds up processing and reduces costs, promoting ease of doing business, especially for MSMEs.
Automated alerts to beneficiaries/customers for status changes in e-BGs, upcoming BG expiry and Claim expiry reminders.
NeSL acts as a central e-BG repository and provides ease of verification.
Easily download e-BG details into Excel format.
Search e-BGs using multiple filters and criteria for quick, targeted results.
Beneficiaries can initiate and track requests for amendments, closures, invocations, and more directly through the platform.
Supports a hybrid model to digitize and manage existing paper-based BGs, ensuring continuity and easy transition.
Applicant submits e-BG request to the issuing bank.
Bank conducts due diligence and initiates e-BG process.
NeSL supports bank in digital stamp and sign (bank may sign via NeSL or internally).
NeSL stores the e-BG and notifies stakeholders.
Stakeholders can view and download the e-BG from NeSL.
Seamless & Secure API Based e-BG access for Large Corporates to view and manage e-BGs (applicants or beneficiaries).
We recently implemented electronic bank guarantee (e-BG) service of NeSL and our experience has been remarkable all through the journey of development and implementation...
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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...
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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.
ebg@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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