Insurance Surety Bonds for NHAI Contracts Crosses Rs. 10,000 Crore Landmark
The Insurance Surety Bonds (ISB) issued for NHAI contracts have surpassed Rs. 10,000 crore, with 12 insurance companies issuing approximately 1,600 ISBs as Bid Security and 207 as Performance Security. A workshop was held to promote ISB and Electronic Bank Guarantee (eBG) adoption, highlighting their cost-effectiveness and potential to support India's growing infrastructure sector, which is expected to see a 6-8% increase in Bank Guarantee requirements annually.
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