Chairman of Karnataka Vikas Gramin Bank Shrikant M. Bhandiwad launching e-Bank Guarantee (e-BG) services in Dharwad on April 2, 2025.
| Photo Credit: SPECIAL ARRANGEMENT
Regional rural bank (RRB) Karnataka Vikas Gramin Bank (KVGB) launched its e-Bank Guarantee (e-BG) services in collaboration with the government’s information utility provider National E-Governance Services Limited (NESL) in Dharwad on April 2.
Launching the services in Dharwad, bank Chairman Shrikant M. Bhandiwad said that KVG Bank is the first among the 43 regional rural banks in India to introduce the facility.
“The e-BG service leverages e-signatures and e- stamps, significantly simplifying the bank guarantee process. With this facility, guarantees can now be issued within minutes. Beneficiaries can view the e-Bank Guarantee on the NESL portal immediately after issuance, eliminating the need for additional confirmation,” he said.
Mr. Bhandiwad said that, apart from enhancing transparency in banking transactions, the new services would greatly benefit customers, specially in semi-urban and rural areas.
He announced that KVGB has achieved a turnover of ₹38,514 crore durng 2024-25, reflecting a 7.32% growth.
KVGB’s General Manager (IT) Malachi Punith explained the features of the e-BG facilities.
Published – April 03, 2025 11:47 am IST
