Page 44 - Banking Finance September 2018

ARTICLE

Now, banks and other lending institutions can obtain contact
For update news on Banking & Finance Industry
details of such defaulters for a fee from CIBIL. It is a welcome
move by CIBIL, as not only defaulters will be kept away from BANKING FINANCE
the financial system, but such defaulters will not be able to A Leading Monthly Journal on Banking & Finance
hide anywhere. Covers Schemes
RBI Banking 1 Year 750
Finance Rural/Co-op 3 Year 1500
Conclusion Stock Market Risk Management 5 Year 2250
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One of the major worries for the banks and other lending Subscribe Now !!
institutions has been the large scale increase in defaults of
unsecured loans/personal loans/MSME loans/Education ORDER FORM
loans wherein the whereabouts of borrower is untraced.
New Rental Subscription No.
Lenders are increasingly using social media websites to track (Please tick)
defaulters through skiptracing. Name of Executive :
Designation:
The urge of people to use social media to share their happy
Company's Name :
moments with everybody out there in the world and to
Address :
connect with all the people on their "friend" list at one go
Pincode :
has become an important weapon in the hands of lenders
Phone : Mobile :
to affect their recovery of dues.
Fax : E.Mail :
Facebook updates, tweets, Linkedin profile, emails and Publication Order :
various other activities on social media leave an electronic *Scheme Opted : No.of Copies
trail that may be easy to follow. However social media like (Please mention the scheme name example : It-1, Lit-1 or Combo 4-1)
facebook etc are still considered private and borrowers may Period of Subscription : From to
feel their privacy is being compromised. Details of payment : Cash/M.O./D.D./Cheque* No

Although the information which is available/shared publicly
Dt drawn Rs.
by the borrower cannot be considered private yet since the
Ordinary Registered Post (Please tick)
lines between what is public and what is private is having a
*For outstation cheque please add Rs.50/- towards bank charges.
hairline difference, there is a possibility of false allegation
Outstation cheques of metro cities accepted only. No Charges ap-
by the borrower regarding this. plicable for payable at per cheques.
Do not make any Cash Payment
Therefore it is imperative on the part of policy makers to for Subcription of Journals Signature of Subcriber
put a policy framework and issue necessary guidelines for
Please tear and send it along with your letter
using skiptracing. Till that time, social media should only be
used for locating the whereabouts of the borrower and no Mode of Payment
attempt should be made by bankers either officially or by
1. Payable at per Cheque/Demand Draft favouring Sashi Pulbications
impersonation on the social media. All communication
Private Limited, Payable at Kolkata
should be done on banks prescribed official channel only. 2. You can directly ECS/Deposit cash in our bank account number
below in your city and send us copy of Pay in slip by email.
References- A/C Name : Sashi Publications Private Limited
A/C No. : 402120110000327
1. Economical & Political weekly Dec2017 Bank : Bank of India
2. The Hindu 09.02.2013 and Bobmetri Branch : V V K Road Branch., Kolkata, India
IFSC Code : BKID0004021
3. Financial Express 07.07.2017
Make Online Payment by Credit Card/Debit Card or your net banking
4. The Economic Times 24.12.2017 account at our website www.sashipublications.com

44 | 2018 | SEPTEMBER | BANKING FINANCE