What Is a Demand Notice? Understanding Its Format, GST Relevance, and Legal Implications in India
A demand notice is a formal communication issued to inform a person or entity of their legal obligation to fulfill specific duties, such as paying outstanding dues, rectifying a breach of contract, or adhering to
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How Technology is Solving Challenges of On-Field Loan Collections
One McKinsey report states that debt recoveries increased by an average of 65% across the board when lenders and debt collectors shifted their focus on using digital collection suites. Software and mobile applications tailored for
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The Rise of NBFCs in India: A Catalyst for Financial Growth
Non-Banking Financial Companies (NBFCs) have emerged as pivotal players in the Indian financial landscape, driving growth and innovation. As of 2023, there are almost 10000 NBFCs in India and all of them contribute almost 10%
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Microfinance in India: A Journey Towards Financial Inclusion and Empowerment
Microfinance has emerged as a significant tool for economic development, particularly in developing countries. It provides financial services such as small loans, savings accounts, and insurance to individuals who lack access to traditional banking systems.
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The Essential Guide to B2B Debt Collection for Businesses and Banks
In the dynamic world of business-to-business (B2B) transactions, managing outstanding debts is a critical aspect of maintaining financial stability and growth. Whether you’re a supplier, service provider, or a financial institution, effectively collecting unpaid invoices
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Understanding Debt Market Instruments: A Comprehensive Guide
Investing in debt instruments is a popular option for investors in India and around the world. Debt instruments can be a great option for investors who are looking for relatively stable returns while also being
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Streamline Your Finances with Expert Debt Collection Services
Debt collection is one of the most important aspects of any lending business. While it is essential to have an internal debt collection arm, a large portion of the debt collection process can also be
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Top Features to Look for in a Field Collection App
Field collection is a large part of the debt collection process. Every lenders needs to have a systemized process for field collection. Field collection involves collection agents visiting borrowers in an effort to recover unpaid
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