CRisMAC Legal



Introduction

It is well established that well developed and inclusive financial systems are associated with more rapid growth and better income distribution. Finance helps the rural poor to catch up with the rest of the economy as it grows. It also extends the range of Individuals, households, firms that can get a foothold in the modern economy and thus reduce damaging concentrations of economic power. There is now a greater sense of appreciation of "Empowerment" dimension of finance to the extent it can give ordinary people and poor an access to opportunity and ability to escape conservative social structure.


FEATURES OF CRisMac LEGAL SYSTEM

    Implementation of CRisMac Legal System in the bank will enable it to analyze and efficiently manage the Impaired Asset portfolio. Some of the important benefits of the system are as under:
  • Detailed information about suit-filed cases on borrowers by the bank or by borrowers on the Bank.
  • Timely & stage wise flow of information from the branches to the controlling Offices on Impaired Credit filed under various recovery acts/ Civil Suits.
  • Follow up under BIFR / CDR / Lok Adalat.
  • Monitoring recovery positions account wise/sector wise/ across the board.
  • System to assess the performance of Advocates.
  • Monitoring of recovery by disposal of securities either under execution of decree or on Compromise settlements.
  • Monitoring of expenses incurred by banks against impaired assets under litigation.
  • Monitoring of complaints under Banking Ombudsman, Consumer Forum & also follow up under RTI & Sec 138/NI Act.
  • Generation of Reports under various Acts / sectors / regions etc.
  • Provides compliance and analytical MIS enabling efficient NPA Management.


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