Benefits of Kisan Loan System
Kisan Loan System
Crop loans are originated, approved and maintained in the cooperatives using intricately formulated rules and guidelines that encompass multiple schemes under multiple lines of credit having multiple durations and satisfying varied sets of norms, convergent in a single loan account. KLS can process all crop loans end-to-end. KLS captures all the nuances of crop loan processing as practiced by the CCS. The solution encompasses the entire cycle of crop loan processing including credit limit application, drawals and repayments capturing various global, district and sub-district parameters for members, schemes, seasons, crops, crop insurance, scales of finance, due dates, interest rates etc.
Addresses Regulatory Concerns
Although PACS are not directly a part of the banking system and are not allowed to issue KCCs, KLS offers a compliant handshake between the banking technology network available at the DCCB and the frontline logistics network managed by the PACS.
One Account for All Loans
KLS has the capability to accurately and efficiently handle multiple concurrent loans with different durations, interest rates, repayment schedules, insurance premiums and so on. KLS links each line of credit with a single Savings cum KCC account.
Real-Time DCCB & PACS Interface
KLS interfaces with the ATM Switch to facilitate on-demand validation of loan transactions through the Savings account. Loan withdrawals are validated and the requested amounts are swept into the Savings accounts, in real-time.
No Interchange Charges
KLS facilitates loan account operations through the Savings account. Because the transactions are effectively happening on a Savings account, the bank and the farmer are not liable to pay the Credit Interchange charges.
Multiple Channels of Delivery
Rural areas have a very low penetration of brick and mortar branches. One of the most unique feature of KLS is that it enables loan repayments through a self-service channel such as a Micro ATM, POS or through an ATM that can take cash deposits.
Unlimited Loan Products
The parameterized design of the IRIS KLS allows banks to set up innovative, localized loan products. For example, a Loan Product can have a unique Interest Category that decides how much interest should be charged and when.
Complies with All Govt. Regulations
Links All Lines of Credit Under One KCC/Savings Account
A Shared Cloud System That Is Highly Affordable
Explore more of VSoft’s PRODUCTS
VSoft’s Roots is a technology-based solution for the Cooperative Credit & Banking structure that aims to assist in their outreach to the rural hinterlands through a two dimensional multi-layered software solution. It handles the entire lifecycle of all types of agriculture loans with farmers at one end and Primary Agriculture Credit Cooperative Society (PACS) and the DCC Bank at the other.
Wings is VSoft’s state-of-the-art, comprehensive Core Banking Solutions (CBS) product suite, created in a leap of faith, using web technologies and open source systems right from the very inception in order to meet the requirements of the constantly changing, and often disruptive, techno-financial environment.
VSoft’s OnView Cheque Tracking Portal (CTP) enables Bank Operators to view item details and images of the items captured during the prime pass on the sorter as well as archived items. Operators can use the browser-based interface to quickly research customer data, transaction data, and item images from remote locations.
Cheque Image Capturing
VSoft’s OnView Branch Deposit increases efficiency for your staff by simplifying back-office operations. Disparate back-office systems can cause a negative ripple effect across your financial institution, absorbing time and labor that could be allocated to other impactful tasks.
VSoft is one of the largest cheque truncation service providers in the country, with a client portfolio that includes major public sector, private sector, and co-operative banks. Fully compliant with RBI’s cheque truncation guidelines, VSoft’s BPO infrastructure for cheque processing is capable of processing over 15 lakh cheques a day.
The OnView Remote Deposit Capture (RDC) product suite brings convenience and cost savings right to your palms. You save by depending less on data entry and more on automated operations which process more cheques in less time. You enjoy convenience by creating a paperless environment where all data can be accessed at the tap of a finger.
National Automated Clearing House (NACH) payments are known to be a cheaper and more convenient alternative to cheques. Banks can process a higher volume of transactions at a lower cost because there is no physical movement of instruments.
Vantage is our single, unified platform designed to consolidate fragmented channels to give your financial institution full administrative control over payment processing, core banking, and digital banking solutions. A consolidated platform also provides granular insight for an enterprise-wide view of all account holders and transactions, which enables staff to resolve account holder inquiries quickly and analyze the user experience across devices and banking services.