What is the Right Call Audit Process for Debt Collections?
One of the biggest challenges for lenders is managing debt collections. As consumer and business loans increase, ensuring that these loans are serviced in time is an ongoing issue within the financial services space. Usually,
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Your Guide to a Modern Approach to Debt Collections Processes
Traditionally, debt collection has been associated with striking fear and apprehension in the hearts of defaulters. However, over time, this has hurt the lending industry more than it has helped. A movement towards destigmatizing debt
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7 Ways to Improve Your Account Receivables Collection
Every business owner realizes how crucial maintaining cash flow is for a business. Many bankruptcies take place simply due to cash flow issues that make it impossible to sustain the business. That’s why it’s essential
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Supreme Court Guidelines on Loan Recovery
The loan recovery process is fraught with legal complications. Understandably so, since loan recovery tactics have resulted in numerous examples of adverse consequences in the past. The Reserve Bank of India as well as the
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Loan Loss Provisioning – The Latest RBI Guidelines
The RBI is expected to release a new set of guidelines for loan loss provisioning. It has already released a discussion paper that expands on its views about the existing rules and the need for
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Use These Powerful Business Debt Recovery Strategies to Reduce Dues
Debt is a normal part of business and almost every business runs a credit line for their customers. While sales strategies are constantly updated and improved upon, many businesses are guilty of letting their debt
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How Technology is Transforming Debt Collection Services
The average net non-performing assets ratio for commercial banks in India stood at 3.9% in March 2023. This shows that banks can reap significant benefits by streamlining their debt collection process. Many lenders outsource their
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The Evolving Landscape of the Debt Collections Industry in India
Introduction In India, the debt collections industry is a vital segment of the financial sector, playing a crucial role in maintaining the fiscal health of banks and financial institutions by helping to recover outstanding debts.
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