The Concept of Financial Inclusion

With the banking sector shifting towards digital channels to serve its customers further, there is still a large group that remains unbanked even today. Unbanked or under-banked people are those that are deprived of accessing minimal financial services or do not receive affordable banking facilities. An astonishing fact by the World Bank highlights, “Around 2…

5 Ways Litigation Management System (LMS) help Banks in dealing with NPA

Litigation and Legal Management Systems are designed to help banks and financial institutions by automating their recovery processes and seamlessly accessing legal information about borrowers, NPA accounts, bank’s recovery etc. LMS is used to manage and automate all the legal proceedings in banks. It is responsible for issuing notices to defaulters, reminding court hearing, managing…

One-Time Settlement for Recovering NPAs in Banks

One-time settlement or OTS is a type of compromise settlement executed by the banks in order to recover non-performing assets (NPAs). OTS is a scheme where the borrower (the one who has defaulted) proposes to settle all the dues at once, and banks agree to accept an amount lesser than what was originally due. The…