Bank of Maharashtra launches initiative to digitise credit delivery system

Going forward, the bank's customers can initiate their loan request in online mode and track their loan application on a real-time basis, he added.

State-owned Bank of Maharashtra on Friday said it has launched an initiative to digitise its entire credit delivery system. The bank's Loan Lifecycle Management System (LLMS) will automate its credit delivery, a release said.

"The loan management solution will reduce operational cost, minimise the Turn Around Time (TAT) of credit proposals, improve the quality of credit assessment, and increase the customer outreach and hassle-free lending," the bank's Managing Director and CEO A S Rajeev said in the release. Going forward, the bank's customers can initiate their loan request in online mode and track their loan application on a real-time basis, he added.