PNB’s data analytics to help recover loan


NEW DELHI: State-run Punjab National Bank (PNB) has deployed data analytics to examine reimbursement behaviour of shoppers to guarantee well timed loan restoration, whereas utilizing specifically abled personnel to chase debtors, who’re inclined to delaying funds.
PNB managing director Atul Kumar Goel advised TOI that the financial institution has developed data analytics to determine debtors from the database who delay their funds.”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 stated. And, manning a few of the seats within the name centres are 100-150 visually-impaired executives, who typically chase those that don’t pay the EMI on time.
Goel stated together with change in processes, the instruments devised by banks have helped recover dues. Of Rs 7.1 lakh crore loans disbursed since July 2020, round Rs 1,775 crore have was NPAs. “The new mechanisms have resulted in farm sector NPAs from the new portfolio being around 0.4% compared to 14-15%,” he stated.
“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 stated.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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