HSBC India has launched electronic bank guarantee services for its MSMEs and corporate clients in association with National E-Governance Services Ltd (NeSL), being the first foreing bank in the country to offer this facility.
The aim of HSBC is to digitise trade by replacing the paper-based bank guarantee with a more efficient version, the electronic form, including the introduction of e-stamping and e-signing.
With the new solution, the clients will be able to instantly benefit from the digital bank guarantee on the NeSL portal in a secure way. The digital development reduces the transaction cycle time from 2-3 days to a few minutes.
