Nitin Gadkari launches first-ever ‘Surety Bond Insurance’ for infrastructure projects3 min read . Updated: 19 Dec 2022, 09:31 PM IST
- Surety Bond Insurance will act as a security arrangement for infrastructure projects and will insulate the contractor as well as the principal (contract awarding authority)
Road, transport and highways minister Nitin Gadkari on Monday launched the country's first-ever surety bond insurance product, a move that would reduce the dependence of infra developers of bank guarantee.
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