Wednesday, November 6, 2024
Home Business PNB’s data analytics to help recover loan

PNB’s data analytics to help recover loan

by
0 comment

NEW DELHI: State-run

Punjab National Bank

(PNB) has deployed

data analytics

to study repayment behaviour of customers to ensure timely

loan recovery

, while using specially abled personnel to chase borrowers, who are prone to delaying payments.
PNB managing director Atul Kumar Goel told TOI that the bank has developed data analytics to identify borrowers from the database who delay their payments.

“We know exactly which customer needs to be reminded once after the due date or needs to be called a few times to ensure that

EMI

is made or may require a visit from

bank staff

,” he said. And, manning some of the seats in the call centres are 100-150 visually-impaired executives, who often chase those who do not pay the EMI on time.
Goel said along with change in processes, the tools devised by banks have helped recover dues. Of Rs 7.1 lakh crore loans disbursed since July 2020, around Rs 1,775 crore have turned into NPAs. “The new mechanisms have resulted in

farm sector

NPAs from the new portfolio being around 0.4% compared to 14-15%,” he said.
“We have taken a lot of steps to ensure that payment is timely. Wherever possible, we deduct the EMI directly from the account. In case a customer has an account with another bank, we are using the National Automated Clearing House (

NACH

) to ensure that the repayment takes place on time,” Goel said.

You may also like

Leave a Comment

About Us

Welcome to Janashakti.News, your trusted source for breaking news, insightful analysis, and captivating stories from around the globe. Whether you’re seeking updates on politics, technology, sports, entertainment, or beyond, we deliver timely and reliable coverage to keep you informed and engaged.

@2024 – All Right Reserved – Janashakti.news