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Tag: Credit

business

BCT Digital Joins Forces with Prominent Private Bank to Boost Credit Monitoring via rt360 EWS

Nov 21, 2024 by Sujata 0 Comments #Credit, #Strengthen

Chennai, November 21: BCT Digital, a global regulatory technology company, today announced that a prominent mid-segment Private Bank has selected its rt360 Early Warning System (EWS) to automate and strengthen bank’s credit monitoring capabilities.

With rt360 EWS, the bank, with a century-old legacy, will be able to improve its credit monitoring capabilities through state of art capabilities. These include regulatory and custom alerts, tailored scoring models for Retail, Agriculture, and MSME portfolios, and enhanced last-mile delivery mechanisms such as workflows, SMS/Email alerts, reports, and dashboards. The platform will also provide a consolidated view of risks, helping the bank proactively address non-compliance issues and manage credit risk more effectively across its diverse portfolio. rt360 EWS monitors assets worth USD 300 bn, resulting in savings of USD 3 bn that would have otherwise led to NPAs.

Jaya Vaidhyanathan, CEO of BCT Digital, commented, “At BCT Digital, we believe that effective credit monitoring is at the heart of sound risk management, and we are proud to bring our rt360 EWS solution to one of India’s most respected banks. By providing customizable alerts, dynamic scoring models, and a consolidated view of risk, this collaboration will help the bank streamline its processes and respond swiftly to emerging risks. Our product equips financial institutions to navigate regulatory challenges with confidence while making data-driven decisions that drive long-term sustainability.”

business

Industries in Delhi urge shift from leasehold to freehold to boost India’s USD 5 Trillion economy goal by 2025

Oct 1, 2024 by Gayathri Pariti 0 Comments #BUSINESS, #business growth, #Competitiveness, #Credit, #DDA, #Delhi Chapter of Indian Industries Association (IIA), #Dr. Mamta, #DSIIDC, #Economic Impact, #industries, #investment, #Job Creation

Delhi, October 1st, 2024: The Executive Committee of Delhi Chapter of Indian Industries Association (IIA) held a meeting at the Jhandewalan Headquarters on September 30th, where members urged the Delhi Government, the Lieutenant Governor (LG) of Delhi, and the Union Government of India to implement a freehold policy for industrial units in Delhi.

IIA

 

 

Dr. Mamta, Chairperson of the Delhi Chapter, shared that Delhi has 29 notified industrial areas. While a scheme was introduced in 2005 to convert leasehold industrial properties to freehold, only a few have benefited from this. Government bodies like the DDA, DSIIDC, and the Industry Department have selectively applied this policy, leaving many industrial units without freehold status.

Dr. Mamta stressed that moving from leasehold to freehold is vital for unlocking the economic potential of these areas. This would attract more investments and help India achieve its $5 trillion economy target by 2025.

Main Points of the Appeal:

Business Growth: Freehold ownership would give industrial units more freedom to grow, innovate, and invest in new technologies, without the restrictions of lease agreements.

Increased Investment and Access to Credit: Freehold properties are considered more valuable by banks, making it easier for businesses to get loans and attract investors. This is crucial for supporting India’s economic development.

Enhanced Competitiveness: Industrial units in Delhi would be able to compete better with those in other regions that already have freehold status, leading to greater productivity and innovation.

Job Creation and Economic Impact: A freehold policy would lead to the expansion of industrial activities, creating jobs and developing new industrial hubs, all of which are important for reaching the $5 trillion economy goal.

Dr. Mamta urged that this policy should apply to all industrial units in Delhi, not just a few. If fully implemented, this would empower businesses to contribute more effectively to the economy and support India’s vision of becoming a $5 trillion economy by 2025.

Delhi’s industrial sector plays a key role in the state’s Gross State Domestic Product (GSDP) of $130 billion. By implementing a freehold policy, business operations would become easier, attracting more investments both from within India and abroad.

Industries in Delhi believe that this change would help support the government’s “Ease of Doing Business” initiative and boost economic growth.