Data Analytics
PNB’s data analytics to help recover loan
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.
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.
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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.
