http://www.financialexpress.com/news/npasource.com-hoping-to-sign-up-private-banks-soon/1002144/0
NPAsource.com, a dedicated portal for posting information about bad assets of banks, is hopeful of tie-ups with private sector lenders very soon, a top company official said. NPAsource.com, which has around Rs 13,000 crore worth of NPA notices posted on its website, boasts of clients such as SBI, Bank of India, IDBI Bank, Indian Overseas Bank and Nabard.
"Four public sector banks have already started posting their recovery notices in our website, and we are in talks with other public sector lenders. Also, we are in talks with various private sector banks and are hopeful that one to two private sector banks will start posting their non-performing asset notices in our website soon," chairman and managing director of Atishya Technologies (the promoter of the website) Devendra Jain told reporters here. Such a forum would be another way of resolving the rising NPAs by making available the information about bad assets to all stakeholders with additional inputs.
The company charges in the range of Rs 1,000-1,500 per property for uploading the notice, while a customer, who wants to access the information, has to pay a membership fee.
The company is also in talks with a few Gulf-based banks to use its services for NPA resolution, along with getting their corporate clients to buy NPAs in the country. The company plans to open branches in New Delhi and Bangalore besides the US and Europe in the next year, Jain said.
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