A digital future for loan documentation By invitation:: S Ramann, Managing Director and CEO, National eGovernance Services Limited
Digital documentation and paperless transactions are the future of banking. Augmented by the latest technologies and a supportive regulatory environment online, paperless loans are much more dynamic and convenient and are set to become the future of loan documentation.
This is the space that National E-Governance Services Ltd, a Union Government Company, registered with Insolvency and Bankruptcy Board of India as an ‘Information Utility’ under the Insolvency & Bankruptcy Code, 2016 operates in. Beginning from ground zero in December 2016, NeSL made operational the country's only Information Utility. It now holds Rs 113 trn of borrowings by companies, from across the credit system, across a variety of instruments.
S. Ramann has steered the company through its formative years as its first managing director.
From getting the company up and running to hiring people, to identify the technology and build the platform to socializing the idea of an ‘information utility’ and getting state governments and banks to sign-up and start using its services has been an arduous but exciting journey.
In this guest blog ‘A digital future for loan documentation’ S. Ramann shares what the company has achieved since inception and why this service might keep recalcitrant borrowers in check.
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