Over the last seven years, gross non-performing assets (NPAs) of public sector banks (PSBs) have doubled¹, going from INR 2.24 trillion in 2014 to INR 5.40 trillion in 2021. As per a Reserve Bank of India (RBI) report², the gross non-performing assets (NPAs) of banks may increase from 6.9% in September 2021 to 8.1% by September 2022 under the baseline scenario and to…
Tag: Loan Recovery Software
Reviving Finances: The Power of Debt Recovery Software
Introduction Debt Recovery Software is a process in which a loan goes unpaid continuously. To save the loan from becoming a bad loan or non-performing asset, the creditor hires a collection agency or a Debt Recovery Software, a third party that helps in the legal recovery of the loan. Loan Recovery Platform verifies every claim of creditors, and then a…