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Bad Loans: Indian Overseas Bank Recovers Rs. 75 cr Via Skip Tracing
July 12, 2017
Rs. 74.60 crore may not be a considerable amount from the perspective of multi-thousand crore worth bad loans that have emerged as a major problem for the lenders, Indian Overseas Bank (IOB) has successfully recovered the amount through skip tracking. According to the lender, the amount was obtained from 13,197 accounts during the period between January and May.
Skip tracking is a method used for finding a loan defaulter who has disappeared without a trace. In this, information regarding the defaulter is obtained from credit bureau databases, etc.
