The NSE Clearing Limited (NSE) on March 13, 2024, issued a circular regarding the acceptance of the Electronic Bank Guarantee.
The following has been stated: -
•This is with reference and partial modification to Circular ref. no. 030/2023 (Download Ref No: NCL/CMPT/55708 dated February 22, 2023) regarding the facility for acceptance of Electronic Bank Guarantees (E-BG) as collaterals from clearing members.
•NeSL has introduced a new feature of ‘Hybrid e-BG’ which facilitates the issuing bank to undertake the renewal of BGs in digital mode, even in instances where the original BG was issued in a physical mode outside of NeSL.
•Accordingly, clearing members can use this facility from banks empanelled for issuance of E-BG to provide renewal of BG (originally issued and submitted in physical mode) under the ‘Hybrid e-BG’ facility provided by NeSL.
•The revised list of banks impanelled to provide Bank Guarantees in electronic form is provided in the document given below.
[Circular Ref. No: 028/2024]
