2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SBI
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Canara Bank
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BOI
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HDFC Bank
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Detailed explanation-1: -State Bank of India (SBI), the country’s largest lender, has launched e-Bank Guarantee (e-BG) facility in association with National e-Governance Services Limited (NeSL). This facility will bring about a revolutionary change in the banking ecosystem, where bank guarantee is frequently used in large volumes.
Detailed explanation-2: -Canara Bank sponsors four regional rural banks (RRB): Andhra Pragathi Grameena Bank. Kerala Gramin Bank – Its headquarters are at Malappuram and it operates in all districts in Kerala. It was established in 1976 as a Scheduled Commercial Bank.
Detailed explanation-3: -With this Canara Bank now offers an API based digital workflow of Bank guarantees which will eliminate physical issuance, stamping, verification and paper-based record maintenance of Bank Guarantees paving the way to augment integration of Environmental and Social Governance (ESG) framework into Business.