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  Astute Remedial Services
“Our Experience has shown us that the worst loans are often given in the best of times.”

Delinquencies in Indian Retail loans have been increasing over the past one year, as the business environment surrounding retail finance has deteriorated. In July 2007, it was noted that delinquencies in the retail loan sector were higher than those seen in other asset classes.

Focus of media has been on the methods adopted by some third party collection agents. Loan performance has continued to nosedive since then and recent events have also seen some lenders being not only criticised, but also penalised for their recovery strategies by regulators, which in some cases may have led to customers willfully becoming delinquent.

In response to the negative publicity surrounding the engagement of recovery agents, the Reserve Bank of India has issued guidelines to all scheduled commercial banks in its medium term review of the annual policy. The impact is expected to regulate banks and make them accountable for the acts of third party agents. This has led to need for organised and disciplined players in this segment.

Astute Remedial was conceived at a time when it was felt In the present scenario, the value addition which Astute will bring in to the financial service industry, in which it has a greater presence and strength, is considerable. The services offered by Astute Remedial Services are:

Skip Tracing - The activity pertains to locating absconding customers. It requires intelligence, resourcefulness and other skills besides a systematic approach on field. Various kinds of checks are needed to find a skip customer.

Pick-up and Call Centre Facility – Pick up and call center activity comprises two distinct components namely, calling customers for reminding them of dues and generating appointments / pick ups for the products / service; and two: physically visiting customer by appointment and collecting document and / or payment for the case concerned.

Corporate Recovery Services – Collection management services are targeted at financial institutions and all business houses for Accounts receivables management. It is a useful tool for the company which faces hardship and difficulties in realizing their dues for services rendered and goods sold. This service also targets certain banks where there is no process of collecting post dated cheques for loan installments.

Negotiated NPA Settlements – This activity involves settlements in SME cases where accounts are classified as NPA by the lender(s). Often lenders do not pursue legal action and instead appoint intermediaries to enable settlements to take place, to clean up their books. In some cases, it also involves arranging alternate lending and thereby enabling takeover of the loans outstanding as well.

Residual Recoveries –In some cases, after encashing available securities, some amount still remains to be collected from borrowers which needs persuasion as well as the use of the pending clearance whether in the form of release of charge(s) or lien on assets held as security.
 
 
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