Digitalisation Of Debt Recovery In Banking: Legal Validity And Challenges Of E-Notices Under The IT Act, 2000
- IJLLR Journal
- Aug 23
- 1 min read
Updated: Aug 29
Rajwinder Kaur, PhD Scholar, Lovely Professional University
Dr. Neeru Mittal, Associate Professor and HOD, Lovely Professional University
ABSTRACT
This study aimed to analyse the legal validity, adoption, and challenges of using electronic notifications (e-notices) in debt recovery processes inside Indian banks, referencing the Information Technology Act, 2000. A quantitative study design was employed to gather data from 384 banking professionals through a structured Likert-scale questionnaire, addressing variables like legal recognition, adoption, awareness and training, efficiency, technical challenges, and legal challenges. Stratified random sampling guaranteed diverse representation, while SPSS facilitated reliability testing, descriptive analysis, and regression to evaluate four hypotheses concerning the interplay between legal recognition, training, technical/legal challenges, and the uptake and efficiency of e-notices. Findings demonstrated that legal acknowledgement under the IT Act 2000 substantially propels adoption, whereas awareness and training improve implementation efficacy. Both technological and legal issues, while seen as obstacles, shown notable correlations with efficiency, indicating that surmounting them might enhance operational performance. The study indicates that the integration of demanding regulatory frameworks, advanced technology infrastructure, and ongoing capacity-building programs can expedite the effective and sustainable implementation of e-notices, hence enhancing debt collection operations in India's banking industry.
Keywords: Debt Recovery, E-Notices, Digitalisation in Banking, Information Technology Act 2000, Legal Recognition, Technical Challenges, Legal Challenges, Banking Sector
