Credit Assessments Made Easy!

When lending to a borrower, one of the critical parameters that Financial Institutions consider is the borrower's total exposure to debt. Ensuring end-to-end visibility into a borrower’s total outstanding debt is especially important when lending to corporate debtors who can have multiple types of debts like business loans, commercial papers, corporate bonds, etc. Furthermore, corporate …

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Evidence of Debt Default – A Powerful Tool For Faster Resolution Of Unpaid Dues

Timely receivables are pivotal for the financial healthiness of any organisation. Colloquially known as “rolling cash”, this inflow of money at regular intervals plays a determining role in an organisation’s financial capability to pay operating expenses like salaries, rent, utility bills, vendor payments, etc. For Financial Creditors (Banks and NBFCs), the receivables are in the …

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Paperless Contracts – The New Normal In The COVID World

The coronavirus (COVID-19) pandemic has disrupted business processes and altered the way organisations interact with their customers. As work-from-home becomes the new norm and virtual meeting rooms the new office, organisations will increasingly embrace contactless processes that facilitate seamless business continuity without the need for any in-person customer meetings. Taking cognizance of the severe financial …

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Credit Facility Report: The Most Comprehensive Information Of All Types Of Debts

When it comes to assessing the creditworthiness of a business loan seeker (also known as a ‘debtor’), a common practice followed in India by most Financial Institutions – Banks as well as NBFCs, is to rely on the debt (loan) information outlined in the various Credit Reports available in the market today. While such Credit …

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A New Digital World for Debt

An acceptance or agreement on debt balances throughout the journey of the debt is good for the borrower and lender, guarantors, security providers, auditors of the debtor, prospective lenders, credit rating agencies, credit scorers, policymakers with data of macro-level indebtedness, and the quasi-formal judicial system that will resolve the disputes without going to the formal …

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Towards A More Transparent Credit Information Ecosystem

To bring in transparency in the credit information ecosystem and ensure that both the lender and the borrower are privy to the same information, the Reserve Bank of India (RBI) has mandated all Financial Institutions (Banks as well as NBFCs) to register and upload all their loan records on NeSL IU as enshrined in Section …

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How MSMEs Can Initiate Insolvency Proceedings Against Their Defaulting Buyers

As seen in our previous post, to protect Micro, Small and Medium Enterprises (MSMEs) from the vicious cycle of delayed payments, the MSME Ministry has now interlinked the Delayed Payment Monitoring Portal – MSME Samadhaan with National E-Governance Service Ltd. (NeSL)’s Information Utility (IU). With this new mechanism in place, MSMEs can now directly obtain …

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Beyond Samadhaan: A New Initiative For Speedy Disposal Of MSMEs’ Unpaid Dues

Employing around 120 million people and contributing approximately 30% to India’s GDP, Micro, Small and Medium Enterprises (MSMEs) play a pivotal role in job creation and nation-building. Acknowledging the tremendous potential of MSMEs to help India achieve the $5 trillion economy mark by 2025, the Hon. Union Minister for MSMEs, Shri Nitin Gadkari, recently unveiled his vision …

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