KVGB Launches e-Bank Guarantee (e-BG) Services

Media Release
Bellevision Media Network

Mangalore, April 2, 2025:  Karnataka Vikas Gramin Bank (KVGB), a leading rural bank in the country, has officially launched its e-Bank Guarantee (e-BG) services in collaboration with the government’s information utility provider, National E-Governance Services Limited (NESL). The initiative was inaugurated by Bank’s Chairman Mr. Shrikant M. Bhandiwad at an event today.

 

Speaking on the occasion Mr Shreekant M Bhandiwad said that  Karnataka Vikas Grameena bank is the first RRB among 43 RRBs in the country to introduce this 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. Chairman Mr. Bhandiwad emphasized that this digital advancement will greatly benefit customers specially in semi-urban and rural areas while enhancing transparency in banking transactions.

As the financial year 2024-25 concludes, Chairman of the Bank Mr Bhandiwad expressed confidence in the bank’s strong performance across key parameters. He announced that KVGB has achieved a turnover of Rs. 38,514 crore, reflecting a 7.32% growth. The bank’s deposits have reached Rs. 20,941 crore, while advances stand at Rs. 17,573 crore.

 

Mr. Malachi Punith ,GM, IT of the Bank explained the features of the e- BG facilities. 

 

The launch event was attended by the General Manager and other senior officials of the bank. With the introduction of e-Bank Guarantees, KVGB reaffirms its commitment to providing seamless and efficient digital banking solutions for its customers.