Like telcos, banks may soon pester customers daily to pay up via messages

Working on an RBI mandate to automate its NPA alert system real-time, instead of manually gauging NPA status at the end of the month, Chennai-based Indian Bank sent a message to its surprised customer

Come July 1, banks would be behaving like telecom companies for their overdue customers, pestering them to pay up every day through messages.  

Banks, especially public sector lenders, generally used to alert people once at the end of the month.  

Working on a Reserve Bank of India (RBI) mandate to automate their non-performing assets (NPA) alert system on a real-time basis, instead of manually gauging the NPA status at the end of the month, Chennai-based Indian Bank sent a message to their surprised customers.

“As per the change in Bank's policy, loan accounts will be flagged as NPA on daily