Effective strategies for debt collection and accounts receivable management for banks and NBFCs
Debt collection and accounts receivable management are critical aspects of banking and non-banking financial institutions’ operations. Effective management of these functions can significantly impact an organization’s financial health and growth prospects. However, with the increasing
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Non-Performing Assets: Understanding the Impact and Strategies for Effective Management
I. Introduction Non-performing assets (NPAs) are a major concern for banks, especially during economic turbulence. Banks classify loans as NPAs when borrowers fail to repay their loans or interest. NPAs not only impact the financial
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Guide to Online Arbitration
What is Online Arbitration? Online arbitration, also known as e-arbitration or virtual arbitration, is a process of resolving legal disputes that takes place entirely online, without the need for parties to meet in person. In
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Cheque Bounce Intimation Failure: What Happens Next and How to Avoid It
1. Introduction Cheques are a widely accepted mode of payment in business transactions. But sometimes, they can bounce due to insufficient funds, signature mismatch or other reasons. It is crucial to understand what happens when
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What is Days Past Due in Credit Report and Its Importance
What is DPD meaning in banking? Days Past Due(DPD) refers to the number of days that a borrower has missed making a scheduled payment on a loan or credit account. DPD is used by banks
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5 Reasons Driving the Rise of Digital Lending in India
India has seen a significant increase in digital lending platforms in recent years due to technology and internet connectivity. These platforms offer quick and easy loans to customers without the need for extensive documentation and
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SaaS-ification for faster debt recovery
Debt recovery is a critical process for any business that extends credit to its customers. However, the traditional debt collection process can be time-consuming and resource-intensive, often resulting in delayed payments and lost revenue. As
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Replying to Legal Notice for Credit Card
Receiving a legal notice for credit card debt can be an intimidating experience. However, it’s essential to take a deep breath and approach the situation in a calm and measured way. Understanding the notice, reviewing
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