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BANK SURETY
Insurance surety bonds data gaps under regulatory lensIn a proactive move to strengthen the financial landscape, Indian regulators are gearing up to close the reporting voids surrounding insura...- NeSL enabling real-time access to digital debt & claims data in insolvency casesNeSL is providing instant access to digital default records for insolvency cases. This helps authorities quickly verify debt and claims. Am...
- AxiTrust raises Rs 23.5 crore in seed round led by General CatalystAtrium Angels, YAN Network, and Supermorpheous participated in the seed funding round for the startup that builds digital infrastructure fo...
- Over Rs 10,000 crore of Insurance Surety Bonds issued for NHAI contractsInsurance companies have issued over Rs 10,000 crore in Insurance Surety Bonds (ISB) for NHAI contracts, with 1,600 ISBs as bid security an...
- Understanding surety bonds and their benefits for the infrastructure sectorIndia's budget has allocated ₹11.11 lakh crore for infrastructure development, focusing on industrial parks, housing, water supply, sewage ...
- Regulatory changes to provide necessary push to surety bonds business, say expertsRegulatory changes and standardization are set to boost surety bonds introduced in 2022 by general insurance companies. These bonds will su...
- Govt considers giving financial creditor status to insurers issuing surety bond during resolutionThe Indian government is considering changes to the Insolvency and Bankruptcy Code (IBC) to give insurers the same status as banks in cases...
- Take advantage of surety bonds, Irdai Chairman to stakeholders in infra spaceThe chairman of Insurance Regulatory and Development Authority of India (Irdai) pointed out that India is expected to spend approx Rs 100 l...
- FinMin agrees to allow highway contractors to convert bank guarantees into surety bonds, says GadkariThe Indian finance ministry has given the National Highways Authority of India (NHAI) and National Highways & Infrastructure Development Co...
- Changes in the works to make roads surety bonds lucrative: Nitin GadkariInsurance surety bonds can be used as a substitute for bank guarantees in government procurement tenders. The Insurance Regulatory and Deve...
- Changes in the works for surety bonds to make them lucrative: Nitin Gadkari“It took us three years to introduce the Insurance Surety Bond product after following up with regulatory authorities. The bond can be offe...
- Surety bonds can be a gamechanger if government adopts them in fullSurety bonds intend to solve this problem by looking at the previous track record of the contractors, their internal management and account...
- Regulators should be nimble-footed, they should take decision fast: Nitin GadkariThe minister on Monday launched the country's first-ever surety bond insurance product for the infrastructure sector, which has been develo...
- First surety bond insurance launch on December 19, to boost infra liquidity: Nitin GadkariSpeaking at the CII Global Economic Policy Summit, he said the product will boost liquidity in the infrastructure sectors. "On December 19,...
- India’s first Surety Bond Insurance product to be launched on December 19: Nitin GadkariIt is estimated that banks seek close to 30-50 percent of cash money margin (from smaller construction companies), which is then stuck in t...
- Can’t offer a bank guarantee? Give a suretyWhile it may be more expensive than bank guarantees, it fills in a key gap for companies that can’t post collateral to bid for businesses.
- Budget 2022: Time to raise awareness and acceptance of Surety BondsWe expect our finance minister to continue the focus on building world class infrastructure in India with increased allocation to the secto...
- Robust legal framework necessary for development of surety bonds market in India: IRDAI report"For surety market to develop in India and keeping in mind best practices observed in other markets, a robust legislation requiring surety ...
- NHAI moves IRDA proposing insurance of road projectsThe National Highways Authority of India (NHAI) has proposed insurance cover for road projects, in a step that could help bring in credible...
- The how, why & what about Business GuaranteesA Guarantee is a promise to pay another person's debt or fulfill his or her contractual obligation, if that other person fails to perform h...
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