Description:FIELD OF THE INVENTION
The present invention generally relates to a financial application system and particularly to a system and method for standardizing and managing records, automating the retrieval of transaction data from statutory and other platforms, and overseeing the secured and unsecured loan portfolio of borrowers.
BACKGROUND
Lending institutions, such as banks and financial organizations, face significant challenges in managing and monitoring their loan portfolios efficiently. The process of overseeing loan accounts, especially those involving collateralized loans, requires constant evaluation of collateral status, assessment of collateral condition, determination of drawing power based on collateral value, and timely identification of defaults or potential risks. Traditionally, these tasks have been performed manually, resulting in increased operational costs, time-consuming processes, human errors, and a lack of real-time monitoring capabilities. Additionally, gathering transaction data from various statutory and other platforms for loan portfolio oversight is a complex and time-consuming process, making it difficult to ensure the accuracy and consistency of records. The present invention provides a system and method that addresses the limitations of the prior art by automating and standardizing the processes involved in overseeing the secured and unsecured loan portfolio of borrowers. The invention enables lenders to effectively monitor collateral security, verify its condition, calculate drawing power based on real-time collateral value, and implement a robust default alerting mechanism. By automating these tasks, the invention improves operational efficiency, reduces costs, minimizes errors, and enhances risk management capabilities.
US2011166987A1 discloses A method and a loan access evaluation system use a loan applicant's actual business transaction information received from an online business system on which the loan applicant conducts business. In addition to the information of the loan applicant's owner, other general background business information and historical business information of the loan applicant, the method and the system obtain detailed transaction data of the loan applicant on e-commerce systems or platforms and banks, and thus have access to dynamic business data of the applicant for a more reliable loan access appraisal.
The existing system does not provide reduction in the loan defaults and has a lot of manual work to be done. Therefore, there is a need for an improved system to provide reduction in the loan defaults and reduce the manual efforts involved at the customers end and the banks end by the use of this technology.

OBJECTIVE OF THE INVENTION
The main objective of the present invention is to is to position Banks / NBFC’s / any other Financial Institution registered under RBI as a Lender to identify and address any possibility of any default whether wilful and non-wilful by borrower prior to such a default taking place.
Another objective of the present invention is to effectively monitor collateral security, verify its condition, calculate drawing power based on real-time collateral value.
Another objective of the present invention is to effectively monitor the insurance, change in the title of the property given as security and any new charge has been created on such property.
Another objective of the present invention is to monitor the current status of the Directors / Partners in ROC.
Yet another objective of the present invention is to assist the Lender Institutions to ensure considerable reduction in the loan defaults and consequently to reduce non-performing assets.
Yet another objective of the present invention is to ensure effective automatization and standardization of the processes involved in overseeing the secured and unsecured loan portfolio of borrowers.
Yet another objective of the present invention is to improves operational efficiency, reduces costs, minimizes errors, and enhances risk management capabilities.
Further objectives, advantages, and features of the present invention will become apparent from the detailed description provided herein below, in which various embodiments of the disclosed invention are illustrated by way of example.
SUMMARY OF THE INVENTION
The present invention relates to a financial application system and method for overseeing the secured and unsecured loan portfolio of borrowers. The system of the present invention includes an application internet server, a bank server, a statuary body server, a banker device interface, a borrower device interface, a borrower authentication device. Herein the application internet server includes a memory unit and a processor unit. The memory unit stores instructions and data of loans and bank account details of the borrower, transaction data of borrower from bank and data submitted by borrower to statutory body platforms. The processor unit runs the instructions stored in the memory unit to implement standardization and management of records, auto-retrieval of transaction data of borrower from bank, data submitted by borrower to statutory body platforms for overseeing the secured and unsecured loan portfolio of borrowers. Monitoring the status of the collateral security provided by borrower to bank, verifying the condition of the collateral, and calculation of drawing power, and default alerting. Herein the bank server includes a bank server memory and a bank server processor. The bank server memory stores data related to borrower, bank account, collateral security provided by borrower, loan portfolio, transaction history of borrowers. The bank server processor is connected to the processor unit of application internet server and transmits data for standardizing and management of records and as well as storing data of loans and bank account details of the borrower, transaction data of borrower from bank. Herein the statuary body server is a server connected to various government organisation server. Herein the statuary body server is also connected to the application internet server. Thus, the processor unit of the application internet server retrieve data submitted by borrower to statutory body platforms. Herein the banker device interface receives information for probable loan default by borrower from the application internet server. Herein, the borrower device interface, is used for providing data in a structured manner on a monthly basis along with the request to assign a drawing power within their sanctioned cash credit limit. Herein the borrower authentication device is connected to borrower device interface, and the data that is being submitted to the application internet server is authenticated with the help of the borrower authentication device. Herein data of borrower is compared and verified against the data available on various government organisation server, and other platforms to check for any discrepancy in borrower profile and validates this data against the data provided by the borrower to the bank server. Herein, the application internet server is used for compiling the data shared by the borrower and cross verifying the data against the data retrieved from the statuary body server, the bank server and the borrower device interface. Herein financial application system causes considerable reduction in the loan defaults and consequently the number of non-performing assets are reduced. Herein, financial application system positions banks to identify and address any possibility of a wilful default by borrower prior to such a default taking place. Herein, the financial application system reduces manual efforts involved on the borrower’s end and the banks end for loan management and drawing power calculation. Herein financial application system provides a consolidated data repository for management and accessibility of data to the bank along with a verification mechanism by integrating the statuary body server with various government organisation server. Herein financial application system provides banks with a single consolidated view of the health of the loans and thus identify the possible non-performing assets. Further, the financial application system provides automatic alert mechanism whenever the collateral security undergoes any change of title and has again been provided as collateral security in some other loan either by the same Borrower and any other person. Further, the financial application system monitors the insurance status of all the collateral securities including stocks and alerts the lender whenever insured amount fall short of such value of such collateral securities.

The main advantage of the present invention is that the present invention positions Banks / NBFC’s / any other Financial Institution registered under RBI as a Lender to identify and address any possibility of any default whether wilful and non-wilful by borrower prior to such a default taking place.
Another advantage of the present invention is that the present invention effectively monitor collateral security, verify its condition, calculate drawing power based on real-time collateral value.
Yet another advantage of the present invention is that the present invention effectively monitors the insurance, change in the title of the property given as security and any new charge has been created on such property.
Yet another advantage of the present invention is that the present invention monitors the current status of the Directors / Partners in ROC.
Yet another advantage of the present invention is that the present invention assists the Lender Institutions to ensures considerable reduction in loan defaults and consequently to reduce non-performing assets.
Yet another advantage of the present invention is that the present invention ensures effective automatization and standardization of the processes involved in overseeing the secured and unsecured loan portfolio of borrowers.
Yet another advantage of the present invention is that the present invention improves operational efficiency, reduces costs, minimizes errors, and enhances risk management capabilities.
Further objectives, advantages, and features of the present invention will become apparent from the detailed description provided herein below, in which various embodiments of the disclosed invention are illustrated by way of example.
BRIEF DESCRIPTION OF THE DRAWINGS
The accompanying drawings are incorporated in and constitute a part of this specification to provide a further understanding of the invention. The drawings illustrate one embodiment of the invention and together with the description, serve to explain the principles of the invention.
Fig.1. illustrates the block diagram of the financial application system.
Fig.2 illustrates method for assessing loan power calculation with the help of financial application system.
Fig.3 illustrates method to assess loan default calculation with the help of financial application system.
DETAILED DESCRIPTION OF THE INVENTION
Definition
The terms “a” or “an”, as used herein, are defined as one or as more than one. The term “plurality”, as used herein, is defined as two as or more than two. The term “another”, as used herein, is defined as at least a second or more. The terms “including” and/or “having”, as used herein, are defined as comprising (i.e., open language). The term “coupled”, as used herein, is defined as connected, although not necessarily directly, and not necessarily mechanically.
The term “comprising” is not intended to limit inventions to only claiming the present invention with such comprising language. Any invention using the term comprising could be separated into one or more claims using “consisting” or “consisting of” claim language and is so intended. The term “comprising” is used interchangeably used by the terms “having” or “containing”.
Reference throughout this document to “one embodiment”, “certain embodiments”, “an embodiment”, “another embodiment”, and “yet another embodiment” or similar terms means that a particular feature, structure, or characteristic described in connection with the embodiment is included in at least one embodiment of the present invention. Thus, the appearances of such phrases or in various places throughout this specification are not necessarily all referring to the same embodiment. Furthermore, the particular features, structures, or characteristics are combined in any suitable manner in one or more embodiments without limitation.
The term “or” as used herein is to be interpreted as an inclusive or meaning any one or any combination. Therefore, “A, B or C” means any of the following: “A; B; C; A and B; A and C; B and C; A, B and C”. An exception to this definition will occur only when a combination of elements, functions, steps, or acts are in some way inherently mutually exclusive.
As used herein, the term "one or more" generally refers to, but not limited to, singular as well as the plural form of the term.
The drawings featured in the figures are to illustrate certain convenient embodiments of the present invention and are not to be considered as a limitation to that. Term "means" preceding a present participle of operation indicates the desired function for which there is one or more embodiments, i.e., one or more methods, devices, or apparatuses for achieving the desired function and that one skilled in the art could select from these or their equivalent in view of the disclosure herein and use of the term "means" is not intended to be limiting.
disclosure herein and use of the term "means" is not intended to be limiting.
Fig.1. illustrates the block diagram of the financial application system(100). The system of the present invention includes an application internet server(102), an at least one bank server(108), an at least one statuary body server(114), an at least one banker device interface(116), an at least one borrower device interface(118). Henein the application internet server(102) includes a memory unit(104) and a processor unit(106). The at least one bank server(108) includes a bank server memory(110) and a bank server processor(112). The at least one statuary body server(114) is a server connected to various government organisation server. The at least one statuary body server(114) is also connected to the application internet server(102). Herein the at least one banker device interface(116) receives information for probable loan default by borrower from the application internet server(102). The application internet server(102) is used for compiling the data shared by the borrower and cross-verifying the data against the data retrieved from the at least one statuary body server(114), the at least one bank server(108) and the at least one borrower device interface(118).
Fig.2 illustrates method for assessing loan power calculation with the help of financial application system. In step(124), a borrower logs in with an at least one borrower device interface(118), the borrower is authenticated with a borrower authentication device(122). In step(126), the borrower input bank account credentials, create user ID, submit name, mobile number, email ID and password. The borrower enters business details, tax details and add supporting documents. The data gets verified and borrowers accounting details are collected. Post verification dashboard access is given to the borrower to add the bank details. In step (128), borrower adds data of loans and bank account details of the borrower, transaction data of borrower from bank and data submitted by borrower to statutory body platforms. Application internet server(102), checks all the borrowers details and collateral security provided by borrower and bank transaction. In step(130), the application internet server(102) after calculations comes up with drawing limit for the borrower and sends the drawing limit to the at least one bank server(108). The at least one bank server(108) sends the drawing limit to the at least one borrower device interface(118) used by borrower. The application internet server(102) makes a monthly report based on the calculation and sends the monthly drawing limit to the at least one bank server(108). The at least one bank server(108) sends the monthly drawing limit to the at least one borrower device interface(118) used by borrower.
Fig.3 illustrates method to assess loan default calculation with the help of financial application system. In step(132), application internet server(102), sends request to the at least one bank server(108), and checks transaction history of the borrower and account details and collateral security provided by borrower. In step(134), application internet server(102), sends request to the at least one statuary body server(114) and checks various government organization server for any discrepancy on borrowers part. In step(136), the data feed by borrower is checked by the application internet server(102), data of borrower is compared and verified by the application internet server(102) against the data available on various government organization server, and other platforms to check for any discrepancy in borrower profile and validates this data against the data provided by the borrower to the at least one bank server(108). In step(138), in case of any discrepancy from the borrower the application internet server(102) sends an information for probable loan default by borrower to the at least one bank server(108). The application internet server(102) address any possibility of a wilful default by borrower prior to such a default taking place.
The present invention relates to a financial application system and method for overseeing the secured and unsecured loan portfolio of borrowers. The system of the present invention includes an application internet server, a bank server, a statuary body server, a banker device interface, a borrower device interface, a borrower authentication device. Henein the application internet server includes a memory unit and a processor unit. The memory unit stores instructions and data of loans and bank account details of the borrower, transaction data of borrower from bank and data submitted by borrower to statutory body platforms. The processor unit runs the instructions stored in the memory unit to implement standardization and management of records, auto-retrieval of transaction data of borrower from bank, data submitted by borrower to statutory body platforms for overseeing the secured and unsecured loan portfolio of borrowers. Monitoring the status of the collateral security provided by borrower to bank, verifying the condition of the collateral, and calculation of drawing power, and default alerting. Henein the bank server includes a bank server memory and a bank server processor. The bank server memory stores data related to borrower, bank account, collateral security provided by borrower, loan portfolio, transaction history of borrowers. The bank server processor is connected to the processor unit of application internet server and transmits data for standardizing and management of records and as well as storing data of loans and bank account details of the borrower, transaction data of borrower from bank. Henein the statuary body server is a server connected to various government organisation server. Herein the statuary body server is also connected to the application internet server. Thus, the processor unit of the application internet server retrieve data submitted by borrower to statutory body platforms. Herein the banker device interface receives information for probable loan default by borrower from the application internet server. Herein, the borrower device interface, is used for providing data in a structured manner on a monthly basis along with the request to assign a drawing power within their sanctioned cash credit limit. Herein the borrower authentication device is connected to borrower device interface, and the data that is being submitted to the application internet server is authenticated with the help of the borrower authentication device. Herein data of borrower is compared and verified against the data available on various government organisation server, and other platforms to check for any discrepancy in borrower profile and validates this data against the data provided by the borrower to the bank server. Herein, the application internet server is used for compiling the data shared by the borrower and cross verifying the data against the data retrieved from the statuary body server, the bank server and the borrower device interface. Herein financial application system causes considerable reduction in the loan defaults and consequently the number of non-performing assets are reduced. Herein, financial application system positions banks to identify and address any possibility of a wilful default by borrower prior to such a default taking place. Herein, the financial application system reduces manual efforts involved on the borrower’s end and the banks end for loan management and drawing power calculation. Herein financial application system provides a consolidated data repository for management and accessibility of data to the bank along with a verification mechanism by integrating the statuary body server with various government organisation server. Herein financial application system provides banks with a single consolidated view of the health of the loans and thus identify the possible non-performing assets. Further, the financial application system provides automatic alert mechanism whenever the collateral security undergoes any change of title and has again been provided as collateral security in some other loan either by the same Borrower and any other person. Further, the financial application system monitors the insurance status of all the collateral securities including stocks and alerts the lender whenever insured amount fall short of such value of such collateral securities.
In an embodiment, the banker device interface, is selected from including but not limited to desktop computer, a laptop, a tablet, a smartphone, a mobile phone, and cluster computers. In an embodiment, the borrower device interface, is selected from including but not limited to a desktop computer, a laptop, a tablet, a smartphone, a mobile phone, and cluster computers. In an embodiment, the borrower authentication device, is selected from including but not limited to XORKEE token/ DSC token. In an embodiment, the statuary body server, the various government organisation server is selected from including but not limited to Income Tax server, Passport Verification server, Citizen Identification Server, Company Affairs department server (ROC), GST, URC, ESIC and PF, Property Tax and Encumbrance.
The present invention relates to a financial application system and method for overseeing the secured and unsecured loan portfolio of borrowers. The system of the present invention includes an application internet server, a one or more bank servers, a one or more statuary body servers, a one or more banker device interfaces, a one or more borrower device interfaces, a borrower authentication device. Herein the application internet server includes a memory unit and a processor unit. The memory unit stores instructions and data of loans and bank account details of the borrower, transaction data of borrower from bank and data submitted by borrower to statutory body platforms. The processor unit runs the instructions stored in the memory unit to implement standardization and management of records, auto-retrieval of transaction data of borrower from bank, data submitted by borrower to statutory body platforms for overseeing the secured and unsecured loan portfolio of borrowers. Monitoring the status of the collateral security provided by borrower to bank, verifying the condition of the collateral, and calculation of drawing power, and default alerting. Herein the one or more bank servers includes a bank server memory and a bank server processor. The bank server memory stores data related to borrower, bank account, collateral security provided by borrower, loan portfolio, transaction history of borrowers. The bank server processor is connected to the processor unit of application internet server and transmits data for standardizing and management of records and as well as storing data of loans and bank account details of the borrower, transaction data of borrower from bank. Herein the one or more statuary body servers are a server connected to various government organisation server. Herein the one or more statuary body servers are also connected to the application internet server. Thus, the processor unit of the application internet server retrieve data submitted by borrower to statutory body platforms. Herein the one or more banker device interfaces receives information for probable loan default by borrower from the application internet server. Herein, the one or more borrower device interfaces are used for providing data in a structured manner on a monthly basis along with the request to assign a drawing power within their sanctioned cash credit limit. Herein the borrower authentication device is connected to the one or more borrower device interfaces, and the data that is being submitted to the application internet server is authenticated with the help of the borrower authentication device. Herein data of borrower is compared and verified against the data available on various government organisation server, and other platforms to check for any discrepancy in borrower profile and validates this data against the data provided by the borrower to the one or more bank servers. Herein, the application internet server is used for compiling the data shared by the borrower and cross verifying the data against the data retrieved from the one or more statuary body servers, the one or more bank servers and the one or more borrower device interfaces. Herein financial application system causes considerable reduction in the loan defaults and consequently the number of non-performing assets are reduced. Herein, financial application system positions banks to identify and address any possibility of a wilful default by borrower prior to such a default taking place. Herein, the financial application system reduces manual efforts involved on the borrower’s end and the banks end for loan management and drawing power calculation. Herein financial application system provides a consolidated data repository for management and accessibility of data to the bank along with a verification mechanism by integrating the one or more statuary body servers with various government organisation server. Herein financial application system provides banks with a single consolidated view of the health of the loans and thus identify the possible non-performing assets. Further, the financial application system provides automatic alert mechanism whenever the collateral security undergoes any change of title and has again been provided as collateral security in some other loan either by the same Borrower and any other person. Further, the financial application system monitors the insurance status of all the collateral securities including stocks and alerts the lender whenever insured amount fall short of such value of such collateral securities.
In an embodiment, the one or more banker device interfaces are selected from including but not limited to desktop computer, a laptop, a tablet, a smartphone, a mobile phone, and cluster computers. In an embodiment, the one or more borrower device interfaces are selected from including but not limited to a desktop computer, a laptop, a tablet, a smartphone, a mobile phone, and cluster computers. In an embodiment, the borrower authentication device, is selected from including but not limited to XORKEE token/ DSC token. In an embodiment, the one or more statuary body servers, the various government organisation server are selected from including but not limited to Income Tax server, Passport Verification server, Citizen Identification Server, Company Affairs department server (ROC), GST, URC, ESIC and PF, Property Tax and Encumbrance.

In an embodiment, the present invention relates to, a method to assess loan power calculation with the help of financial application system. The method includes:
a borrower logs in with a borrower device interface;
the borrower is authenticated with a borrower authentication device;
the borrower input bank account credentials, create user ID, submit name, mobile number, email ID and password;
the borrower enters business details, tax details and add supporting documents;
the borrower data gets verified in real time and borrowers accounting details are collected;
post verification dashboard access is given to the borrower to add the bank details;
borrower adds data of loans and bank account details of the borrower, transaction data of borrower from bank and data submitted by borrower to statutory body platforms;
application internet server, checks all the borrower’s details and collateral security provided by borrower and bank transaction;
the application internet server after calculations comes up with drawing limit for the borrower and sends the drawing limit to the bank server;
the bank server sends the drawing limit to the borrower device interface used by borrower;
the application internet server makes a monthly report based on the calculation and sends the monthly drawing limit to the bank server;
the bank server sends the monthly drawing limit to the borrower device interface used by borrower;
drawing power of the borrower is monthly updated based on the calculation of the application internet server;
A method to asses loan default calculation with the help of financial application system. The method includes:
application internet server, sends request to the bank server, and checks transaction history of the borrower and account details and collateral security provided by borrower;
application internet server, sends request to the statuary body server and checks various government organisation server for any discrepancy on borrowers part;
the data feed by borrower is checked by the application internet server, data of borrower is compared and verified by the application internet server against the data available on various government organisation server, and other platforms to check for any discrepancy in borrower profile and validates this data against the data provided by the borrower to the bank server;
in case of any discrepancy from the borrower the application internet server sends an information for probable loan default by borrower to the bank server;
the application internet server address any possibility of a wilful default by borrower prior to such a default taking place.
In an embodiment, the present invention relates to, a method to assess loan power calculation with the help of financial application system. The method includes:
a borrower logs in with a one or more borrower device interfaces;
the borrower is authenticated with a borrower authentication device;
the borrower input bank account credentials, create user ID, submit name, mobile number, email ID and password;
the borrower enters business details, tax details and add supporting documents;
the borrower data gets verified in real time and borrowers accounting details are collected;
post verification dashboard access is given to the borrower to add the bank details;
borrower adds data of loans and bank account details of the borrower, transaction data of borrower from bank and data submitted by borrower to statutory body platforms;
application internet server, checks all the borrowers’ details and collateral security provided by borrower and bank transaction;
the application internet server after calculations comes up with drawing limit for the borrower and sends the drawing limit to the one or more bank servers;
the one or more bank servers sends the drawing limit to the one or more borrower device interfaces used by borrower;
the application internet server makes a monthly report based on the calculation and sends the monthly drawing limit to the one or more bank servers;
the one or more bank servers sends the monthly drawing limit to the one or more borrower device interfaces used by borrower;
drawing power of the borrower is monthly updated based on the calculation of the application internet server;
A method to assess loan default calculation with the help of financial application system. The method includes:
application internet server, sends request to the one or more bank servers, and checks transaction history of the borrower and account details and collateral security provided by borrower;
application internet server, sends request to the one or more statuary body servers and checks various government organisation server for any discrepancy on borrowers part;
the data feed by borrower is checked by the application internet server, data of borrower is compared and verified by the application internet server against the data available on various government organisation server, and other platforms to check for any discrepancy in borrower profile and validates this data against the data provided by the borrower to the one or more bank servers;
in case of any discrepancy from the borrower the application internet server sends an information for probable loan default by borrower to the one or more bank servers;
the application internet server address any possibility of a wilful default by borrower prior to such a default taking place.
, C , Claims:1. A financial application system(100) and method for overseeing the secured and unsecured loan portfolio of borrowers, the system(100) comprises:
an application internet server(102), the application internet server(102) having;
a memory unit(104), the memory unit(104) stores instructions and data of loans and bank account details of the borrower, transaction data of borrower from bank and data submitted by borrower to statutory body platforms;
a processor unit(106), the processor unit(106) runs the instructions stored in the memory unit(104) to implement standardization and management of records, auto-retrieval of transaction data of borrower from bank, data submitted by borrower to statutory body platforms for overseeing the secured and unsecured loan portfolio of borrowers, monitoring the status of the collateral security provided by borrower to bank, verifying the condition of the collateral, and calculation of drawing power, and default alerting;
an at least one bank server(108), the at least one bank server(108) having;
a bank server memory(110), the bank server memory(110) stores data related to borrower, bank account, collateral security provided by borrower, loan portfolio, transaction history of borrowers;
a bank server processor(112), the bank server processor(112) is connected to the processor unit(106) of application internet server(102), and transmits data for standardizing and management of records and as well as storing data of loans and bank account details of the borrower, transaction data of borrower from bank;
an at least one statuary body server(114), the at least one statuary body server(114) is a server connected to various government organisation server, wherein the at least one statuary body server(114) is also connected to the application internet server(102), thus, the processor unit(106) of the application internet server(102) retrieve data submitted by borrower to statutory body platforms;
an at least one banker device interface(116), the at least one banker device interface(116) receives information for probable loan default by borrower from the application internet server(102);
an at least one borrower device interface(118), the at least one borrower device interface(118), is used for providing data in a structured manner on a monthly basis along with the request to assign a drawing power within their sanctioned cash credit limit;
a borrower authentication device(122), the borrower authentication device(122) is connected to the at least one borrower device interface(118), and the data that is being submitted to the application internet server(102), is authenticated with the help of the borrower authentication device(122);
wherein, data of borrower is compared and verified against the data available on various government organisation server, and other platforms to check for any discrepancy in borrower profile and validates this data against the data provided by the borrower to the at least one bank server(108),
wherein, the application internet server(102) is used for compiling the data shared by the borrower and cross-verifying the data against the data retrieved from the at least one statuary body server(114), the at least one bank server(108) and the at least one borrower device interface(118),
characterized in that, financial application system(100) causes considerable reduction in the loan defaults and consequently the number of non-performing assets are reduced,
characterized in that, financial application system(100) positions banks to identify and address any possibility of a wilful default by borrower prior to such a default taking place,
characterized in that, the financial application system(100) reduces manual efforts involved on the borrowers end and the banks end for loan management and drawing power calculation,
characterized in that, financial application system(100) provides a consolidated data repository for management and accessibility of data to the bank along with a verification mechanism by integrating the at least one statuary body server(114) with various government organisation server,
characterized in that, financial application system(100) provide banks with a single consolidated view of the health of the loans and thus identify the possible non-performing assets,
wherein, the financial application system(100) provides automatic alert mechanism whenever the collateral security undergoes any change of title and has again been provided as collateral security in some other loan either by the same borrower and any other person,
wherein, the financial application system(100) monitors the insurance status of all the collateral securities including stocks and alerts the lender whenever insured amount fall short of such value of such collateral securities.

2. The at least one banker device interface(116), as claimed in claim 1, wherein the interface of the at least one banker device interface(116), is selected from a desktop computer, a laptop, a tablet, a smartphone, a mobile phone and cluster computers.
3. The at least one borrower device interface(118), as claimed in claim 1, wherein the interface of the at least one borrower device interface(118), is selected from a desktop computer, a laptop, a tablet, a smartphone, a mobile phone and cluster computers.
4. The borrower authentication device(122), as claimed in claim 1, wherein the borrower authentication device(122) is selected from XORKEE token/ DSC token.
5. The at least one statuary body server(114), as claimed in claim 1, wherein the various government organisation server are selected from Income Tax server, Passport Verification server, Citizen Identification Server, Company Affairs department server.
6. The system as claimed, wherein, a method to asses loan power calculation with the help of financial application system(100), the method comprising:
a borrower logs in with an at least one borrower device interface(118),
the borrower is authenticated with a borrower authentication device(122),
the borrower input bank account credentials, create user ID, submit name, mobile number, email ID and password,
the borrower enters business details, tax details and add supporting documents,
the borrower data gets verified in real time and borrowers accounting details are collected,
post verification dashboard access is given to the borrower to add the bank details,
borrower adds data of loans and bank account details of the borrower, transaction data of borrower from bank and data submitted by borrower to statutory body platforms,
application internet server(102), checks all the borrowers details and collateral security provided by borrower and bank transaction,
the application internet server(102) after calculations comes up with drawing limit for the borrower and sends the drawing limit to the at least one bank server(108),
the at least one bank server(108) sends the drawing limit to the at least one borrower device interface(118) used by borrower,
the application internet server(102) makes a monthly report based on the calculation and sends the monthly drawing limit to the at least one bank server(108),
the at least one bank server(108) sends the monthly drawing limit to the at least one borrower device interface(118) used by borrower,
drawing power of the borrower is monthly updated based on the calculation of the application internet server(102); and
a method to assess loan default calculation with the help of financial application system(100), the method comprising:
application internet server(102), sends request to the at least one bank server(108), and checks transaction history of the borrower and account details and collateral security provided by borrower,
application internet server(102), sends request to the at least one statuary body server(114) and checks various government organisation server for any discrepancy on borrowers part,
the data feed by borrower is checked by the application internet server(102), data of borrower is compared and verified by the application internet server(102) against the data available on various government organisation server, and other platforms to check for any discrepancy in borrower profile and validates this data against the data provided by the borrower to the at least one bank server(108),
in case of any discrepancy from the borrower the application internet server(102) sends a information for probable loan default by borrower to the at least one bank server(108),
the application internet server(102) address any possibility of a wilful default by borrower prior to such a default taking place.