New Delhi, Oct 8 (NationPress) The National e-Governance Division (NeGD) and National E-Governance Services Limited (NeSL) have forged a significant Memorandum of Understanding to enhance and unify the management of digital documents for both businesses and governmental organizations, as stated in an official announcement released on Wednesday.

NeGD operates under the Ministry of Electronics and Information Technology (MeitY), while NeSL serves as an information utility governed by the Insolvency and Bankruptcy Board of India (IBBI).

More than 60 institutions, including banks, non-banking financial companies (NBFCs), capital market entities, and corporate bodies, are expected to benefit from this initiative. The issuance, renewal, and invocation of bank guarantees can now be completed in mere minutes instead of the several days it previously required.

The MoU was officially signed during the Global Fintech Fest 2025.

This partnership will see NeGD's cloud-based document management platform, Entity Locker—which is an extension of the DigiLocker initiative, designed to streamline document issuance, storage, sharing, and verification—integrate with NeSL’s Digital Document Execution (DDE) platform. The DDE platform is a groundbreaking solution that enables the digital, paperless, and secure execution of contracts, including electronic bank guarantees (e-BGs), which are legally enforceable in a digital format.

This MoU allows beneficiaries and applicants of e-BGs to securely retrieve and access digitally executed bank guarantees directly from NeSL’s eBG repository into their respective Entity Locker accounts. This integration is set to promote quicker, more transparent, and legally compliant digital workflows, thereby supporting India's vision for improved digital governance and simplified business operations.

The advantages of NeSL’s e-BG encompass a fully secure and tamper-proof document, a significantly faster turnaround time of a few minutes as opposed to several days for physical BGs, and the ability to manage all lifecycle events like renewal and invocation digitally.

Additionally, it offers a paperless and environmentally friendly alternative, easily verifiable through a central repository.

The agreement includes provisions for the secure sharing of financial data, strict compliance with relevant laws, including the Insolvency and Bankruptcy Code, 2016, and adherence to data privacy regulations, as stated.

This alliance lays the groundwork for future collaborations and innovations in the digital solution space, further enhancing the efficiency of both government-to-business and business-to-business digital interactions.

NeGD Director J.L. Gupta remarked: "We anticipate more such partnerships with NeSL in the future. Through NESL’s e-stamp paper service, individuals can obtain e-stamp paper and digitally sign contracts in real-time using the e-signing facility, ensuring a seamless, paperless, and legally valid process."