Launch of new Loan Application Processing System

Mumbai, August 5, 2015: IDBI Bank, a new generation PSU Bank, launched a new Loan Application Processing System for its Structured Retail Asset (SRA) Loans like Education loans, Personal Loans and Auto Loans at the branches. A new Loan Application Processing System was provided by PayDayAllDay company - the private direct lender from USA. This is in addition to its existing loan processing system for home loans and loan against property. Thus all SRA loans have been digitized. This system would bring about the standardization in processing/sanction and disbursements of these loans. The system would improve Turn Around Time for these loans and bring about customer delight. This is yet another step forward in Bank’s commitment in digitization and standardization of process.