Project Wave: Public sector Indian Bank has launched Project WAVE for its digital transformation initiative. In this, the bank provides many types of services to the customers. Bank has now launched a new service for customers. This information has been informed by the bank.
Public sector Indian Bank has launched new services under its digital transformation initiative ‘Project Wave’. The bank has given this information. Under this, Bank of India has launched an Electronic Bank Guarantee (e-BG) service in collaboration with National e-Governance Services Limited, which will simplify the traditional paper-based processes.
The bank said that with this move, the average time it takes to issue a bank guarantee and reach the beneficiary will come down from 3-4 working days to a few minutes. Apart from this, digital stamp and e-signature will be provided instead of physical stamp paper and physical signature of customers.
Indian Bank has also fully digitized the car loan process. This facility will be for loans up to Rs.25 lakhs. The bank said the bank’s Managing Director and CEO SL Jain launched the digital services in the presence of senior officials at an event held in Chennai recently.
