Debt Service Products
IDBI Bank Debt Service Products
Debt Service Products include servicing of Interest payments, Dividend servicing, redemptions and refund (IPO’s, FPO’s and Right Issues)
In our quest for excellence, bank has developed a new process by which the Debt Servicing business will get a new dimension. This system helps in giving on line reconciliation for all the warrants issued on IDBI Bank locations. At any given point of time, a list of all unpaid warrants, tallied with outstanding balance can be provided.
Brief Features:
- Online Validation as warrant module in-built in Core Banking System
- Scanned Images of paid Warrants with query module
- Instrument Level Debits for online reconciliation
- Paid/Unpaid status of warrants matching with the account balance, on demand
- Immediate ‘Stop Payment’ for warrants issued on IDBI Bank stationary