Cash credit and overdraft accounts are handy financial instruments that help businesses meet their working capital requirements. They serve as short-term loan facilities and are offered by several financial institutions after a few primary credit checks. However, there is a popular misconception that both Cash Credit and Overdraft are the same, and people often use […]
A bank statement is the most basic and critical document that aids in assessing a loan applicant’s creditworthiness. Every SME or lending institution relies on bank statements to provide valuable insight into the borrower’s income and spending patterns. The Bank Statement Analyser or BSA is an automated engine that examines bank statements by combining effective […]
For banks, NBFCs, and other similar financial institutions, lending is one of the primary sources of revenue and also one of the most profitable ones. With a rise in financial literacy in India, the number of borrowers has increased and consequently, so has the number of payment defaulters. This has forced lending institutions to deploy […]
