LOAN TRACKING SYSTEM FOR DESHODAYA DEVELOPMENT FINANCE COMPANY LIMITED

Abstract

Deshodaya Development Finance Company Ltd is the economic arm of Sarvodaya which has named earlier as SEEDS (Sarvodaya Economic Enterprise Development Society). Its main objective is to alleviate poverty by promoting economic empowerment of rural people for a sustainable livelihood. Currently all transactions of Loan management is doing using manual system. Tracking these transactions according to time has become a crucial matter for the company. Transactions include Application handling, Credit appraisals, Approvals, Loan disbursement recordings, tracking of payments and loan defaults. Basically the Loan Tracking system is supplying functionalities of Loan entry, Application entry, Credit appraisal, Credit approval, Loan tracking, Delinquency Management for loan Defaults, Refinance and Repayments to the funding agency and Reports regarding the mentioned. Therefore their system is far behind the time since the delay of manual data flow of all the functions including above where tracking default customers have been delaying. They required a system to keep records of all the transactions up to date and track situation of the transactions. Therefore The Loan Tracking System was suggested. Loan Tracking System was done using JAVA technology as a stand-alone system. A database is maintained accordingly which has created with MySql technology. The system is updated daily with the transactions happened in each branch by the user. Therefore system can derive reports for the management to make decisions on regarding. DDFC expects to increase their productivity of the above tasks and keep their company financial status up to date through the Loan Tracking System. There are Deshodaya Branches and over regional Deshodaya branches in the country which are expected to do the transaction updates efficiently. Therefore Deshodaya will be doing their business efficiently with good time management. Also it will be strong with good customer base since DDFC is now able to communicate with the customer with up to date information.