Goa Chief Minister Pramod Sawant revealed on Wednesday that the Goa government is gearing up to introduce a specialized mobile application (App) designed to track loan defaulters and identify fraudsters within credit societies and banks.
Scheduled for launch on March 01, 2024, this groundbreaking App is poised to revolutionize the financial landscape by providing credit societies and banks with a powerful tool to proactively identify potential loan defaulters and fraudulent individuals.
The introduction of this App is a strategic move to address and mitigate instances where individuals exploit multiple credit societies or banks, thereby defrauding the system by neglecting repayment commitments from earlier transactions.
This innovative measure not only aims to strengthen the integrity of the financial sector but also signifies the government’s commitment to safeguarding the interests of both lenders and borrowers.
