Indian Bank launched new digital services under its ongoing digital transformation initiative 'Project WAVE'. Together with the National E-Governance Services Limited (NeSL), the electronic bank guarantee (e-BG) service is now digitalised to reduce traditional paper-based processes.

An electronic bank guarantee will shorten the turn-around time of issuing and its delivery to the beneficiary from an industry average of 3-4 working days to a few minutes. It will also replace the physical stamp paper and signatures with digital stamping and e-signing, making the whole process entirely digital. Other digital services include the possibility of the Bank's chatbot accepting chequebook requests from customers and for the process of pre-approved business loans to be completed online as well.

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