There are TWO important Cís in any Loan: Credit & Collections. VAK Reports provide services in both Cís to Banks and Financial Institutions.

Introduction: The banking sector is the backbone of a countryís economy and directly affects its economical development. Hence it is imperative that the banks and financial institutions are robust in managing the stress, particularly caused by Non-performing assets (NPAs) or bad loans.
What is a NPA? As per RBI, A 'non-performing asset' (NPA) was defined as a credit facility in respect of which the interest and/ or instalment of principal has remained 'past due' for a specified period of time. Basically, assets and loans that have become unrecoverable are classified as NPAs.The regulatory bodies in India have been empowering banks by introducing ways to identify defaulters and recover loan amounts via many acts such as Sarfaesi Act 2002, Lok Adalats, Debt Recovery Tribunals (DRTs) etc.Banks also engage into mechanism for evaluating credit ratings, provide Early Warning Signals (EWS), categorise Special Mention Accounts (SMA) and take necessary actions like follow-up from customers.

VAK Reports is into First Bucket Collection process basically wherein the first call is made to the customers on behalf of Banks and FIís.
Our team advises the borrower to regularize the account immediately, note whether the problem faced by the borrower for delinquency is of temporary in nature or whether any proactive action like guidance, nursing, problem resolving from the bank-side is required. Obtain realistic and time bound commitment from the borrower/guarantor so that Banks can take suitable steps to arrest deterioration in the loan quality.