StanChart Collaborates With NeSL To Launch API-Driven Electronic Bank Guarantee
Standard Chartered Plc. is collaborating with the National e-Governance Services Ltd. to launch an electronic bank guarantee capability in India. The eBG enables Standard Chartered and its clients to digitally manage the life cycle of the guarantee and provides real-time visibility across the ecosystem for all counterparties to manage and monitor their guarantees.
This capability aligns with the open application programming interface standards, developed by International Chamber of Commerce and Society for Worldwide Interbank Financial Telecommunications.
The bank aims to integrate API-driven solutions that enhance interoperability, operational efficiency and real-time visibility in the banking sector. This approach facilitates integration of banking functions into corporate systems and helps drive digitisation of trade finance.
“We are pleased to partner with NeSL to introduce the eBG, which is a significant step towards a more efficient and future-ready digital trade ecosystem both in India and globally,” said Michael Spiegel, global head, transaction banking at Standard Chartered.
The eBG platform helps to make transactions faster and more secure, according to Standard Chartered. Initiation and electronic advising via NeSL eBG platform removes paper handling in the process, accelerating the issuance and management of guarantees.
API-driven solutions also offer transparency and real-time updates, improving efficiency of trade finance transactions. By adopting the standards, Standard Chartered is also setting a precedent for global adoption.
“NeSL's eBG is paperless and available in a digital form to the beneficiary of an eBG on registration on the NeSL's eBG portal. The process of user registration is simple and one time. For bulk users of eBGs, NeSL also offers integration with the ERP systems through an API,” said Debajyoti Ray Chaudhuri, managing director and chief executive officer of NeSL.
Hitachi Systems India Pvt. is the first client to mandate Standard Chartered for API initiation of eBG and onward transmission via NeSL platform.
“We are an innovation-driven organisation and look forward to more opportunities to work with Standard Chartered on digital initiatives which make our processes more efficient, simple and paperless,” said Rajeev Garg, director and chief financial officer at Hitachi Systems India.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
