ALL PSU BANKS MUST HAVE 'OLAS' IN ITS INTRANET PORTAL FROM NOW ON !!!

"All PSU Banks must have Online Loan 
Application System (OLAS) in its 
Intranet Portal from now ON; 
whenever a customer wants to take a loan, 
enter his/her CIF, PAN and AADHAAR No. 
in 'OLAS' and press 'Enquiry' BUTTON. 
It will generate the respective 
'CIBIL' and 'CRIF' report of 
that customer INSTANTLY; 
if those reports are not satisfactory, 
then reject the loan proposal by 
stating the reasons EXACTLY. 
If the reports are good, then proceed 
to the next step by pressing the 'Proceed' 
button to select the 'Type of LOAN'; 
once you select the type of loan, an 
online application form will come which 
you can fill up on your OWN. 
Then click on 'Preview' button 
and verify with the customer 
and his/her KYC documents, 
that all the information 
is CORRECT; 
once the verification and editing process is 
done, press the 'Print' button to take the 
printout of the forms, get the customer's 
sign and two officer's sign to make the 
application process complete and PERFECT. 
Now, put all the signed 
application papers 
in a high speed scanner 
to make soft copies 
of all the PAGES; 
again go to 'OLAS', and you will see that 
an application ID has been created in that 
customer's name, click on the ID and upload 
all the scanned documents by following 
the relevant steps of all STAGES. 
Once the loan account gets opened after 
final approval in 'OLAS', it is time 
for final DISBURSEMENT; 
by these easy procedures, PSU Banks 
can compete with anyone in this 
competitive ENVIRONMENT."- Arindam Sain