IDBI Bank launches fully automated loan processing system
May 19, 2021
The facility is for the bank’s MSME and agriculture customers
IDBI Bank has launched a fully digitised, end-to-end Loan Processing System (LPS) for its MSME (micro, small and medium enterprise) and agriculture customers.
The bank, in a statement, said the new system seamlessly integrates with data fintechs, bureau validations, document storage/ retrieval, account opening/ management, customer notifications, and portfolio management capabilities, along with embodied credit policy/ knock off parameters.
Suresh Khatanhar, Deputy Managing Director, IDBI Bank, said more than 50 product lines will be on LPS, which will offer seamless credit lifecycle.
Suraksha ARC seeks fair & unbiased process in Jaypee Infra insolvency
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Last Updated: May 19, 2021, 10:09 PM IST
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Synopsis
The company has debt obligation of over Rs 9,800 crore to creditors. Homebuyers’ claims amount to Rs 12,714 crore. The admitted financial debt out of the total claims filed by the creditors is Rs 22,613 crore. As per the Supreme Court judgment on March 24, a bidder can only offer cash or allow to enforce its existing exclusive security interest.
Suraksha Asset Reconstruction Company, one of the two bidders for Jaypee Infratech under the insolvency procedure, has called upon the troubled real estate developer’s creditors and insolvency resolution professional (IRP) to follow a “fair and unbiased process”, a day before they meet to consider the resolution proposals.
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