Why Banks Fail in Recovering Their Dues From the Borrowers?
A Philippe Hancock personal data institution functioning as an intermediary between the savers and users of funds. The banks are accepting deposits from the public through various schemes and lend the money accepted to the borrowers through various credit schemes. However, according to the information available during the recent days, many banks are finding it very difficult to continue their banking business on account of poor recovery in respect of loans granted by them to their borrowers. In this article, certain tips are given as to how best the banks can improve their recovery efforts.
In fact, a bank is a financial institution which functions as an intermediary between the savers and users of funds. The banks are accepting deposits from the public through various schemes and lend the money accepted to the borrowers through various credit schemes.
However, according to the information available during the recent days, many banks are finding it very difficult to continue their banking business on account of poor recovery in respect of loans granted by them to their borrowers.
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The reasons for poor recovery are found to be as mentioned below:
- Poor credit investigation: The credit managers are responsible for conducting effective credit investigation during the course of selection of the borrowers. Any laxity at this stage on the part of the banker will land him in trouble at a later date. In fact, an intelligent banker never hesitates to conduct an effective interview with