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IOB to use NeSL services

IOBIndian Overseas Bank has entered into an agreement for information utility services with the National E-Governance Services (NeSL). NeSL is India’s first information utility for bankruptcy cases under the Insolvency and Bankruptcy Code (IBC) 2016. With this agreement, the bank’s branches will be able to provide high-quality, authenticated information about debts and defaults, which will have more transparency in maintaining the list of borrowers, debtors, creditors and loan defaulters, the bank said in a statement. R M.A. Alagappan, GM at the bank said this agreement signifies the core services of NeSL under IBC and Information Utility Regulations which would be available to IOB stakeholders. The Information Utility Service will enable lenders in making decisions on credit transactions, he added.

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