Professional Documents
Culture Documents
INDEX
1
CHPTER PAGE
NO. CONTENTS No.
Executive Summary 9
11 - 15
I INTRODUCTION
11
1 What is Loan?
12
2 Types
14
3 Target markets
15
4 Financial Sector
53
6 Features and Benefits
53
7 Extended Finance
54
8 Eligibility and Documents
India is undergoing rapid development “It means that there are millions of
people who dream of better home better infrastructure and a better life. This
opens several avenues of potentially limitless growth in the infrastructure and
construction sector. Bajaj Finserv Lending will help grab this opportunity to
grow real estate businesses.
What is Loan?
5
Although this article focuses on monetary loans, in practice any material object
might be lent.
Types:-
Secured
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or
property) as collateral.
In some instances, a loan taken out to purchase a new or used car may be
secured by the car, in much the same way as a mortgage is secured by housing.
The duration of the loan period is considerably shorter – often corresponding to
the useful life of the car. There are two types of auto loans, direct and indirect. A
direct auto loan is where a bank gives the loan directly to a consumer. An
indirect auto loan is where a car dealership acts as an intermediary between the
bank or financial institution and the consumer.
6
Unsecured
Unsecured loans are monetary loans that are not secured against the borrower's
assets. These may be available from financial institutions under many different
guises or marketing packages:
Personal loans
Bank overdrafts
Peer-to-peer lending
The interest rates applicable to these different forms may vary depending on the
lender and the borrower. These may or may not be regulated by law. In the
United Kingdom, when applied to individuals, these may come under
the consumer credit act 1974.
Interest rates on unsecured loans are nearly always higher than for secured
loans, because an unsecured lender's options for recourse against the borrower
in the event of default are severely limited. An unsecured lender must sue the
borrower, obtain a money judgment for breach of contract, and then pursue
execution of the judgment against the borrower's unencumbered assets (that is,
the ones not already pledged to secured lenders). In insolvency proceedings,
secured lenders traditionally have priority over unsecured lenders when a court
divides up the borrower's assets. Thus, a higher interest rate reflects the
additional risk that in the event of insolvency, the debt may be uncollectible
7
Demand
Demand loans are short term loans [1] that are typically in that they do not have
fixed dates for repayment and carry a floating interest rate which varies
according to the prime lending rate. They can be "called" for repayment by the
lending institution at any time. Demand loans may be unsecured or secured.
Subsidized
A subsidized loan is a loan on which the interest is reduced by an explicit or
hidden subsidy. In the context of college loans in the United states, it refers to a
loan on which no interest is accrued while a student remains enrolled in
education.
Concessional
A concessional loan, sometimes called a "soft loan", is granted on terms
substantially more generous than market loans either through below-market
interest rates, by grace periods or a combination of both. Such loans may be
made by foreign governments to developing countries or may be offered to
employees of lending institutions as an employee benefit.
Target markets
Personal
8
Loans can also be subcategorized according to whether the debtor is an
individual person (consumer) or a business. Common personal loans
include mortgage loans, car loans, home equity lines of credit, credit cards,
instalments loans and payday loans. The credit score of the borrower is a major
component in and underwriting and interest rates (APR)of these loans. The
monthly payments of personal loans can be decreased by selecting longer
payment terms, but overall interest paid increases as well. For car loans in the
U.S., the average term was about 60 months in 2009.
Commercial
Loans to businesses are similar to the above, but also include commercial
mortgages and corporates bonds. Underwriting is not based upon credit score
but rather credit ratings.
Financial sector
9
Finance is conceptualized. structured. and regulated by a complex system of
power relation within political economies across state and global market.
Adecco India
10
Over 110,000 associates on assignment everyday, nationally
CODE OF CONDUCT
The importance of work, and what we do to help people find it, cannot be
overstated. Work can define who we are. It can give purpose and meaning to our
lives. It permits us to apply our talents to contribute to society.
The success in helping others realise their dreams is based upon the trust and
loyalty they have in them. Trust and loyalty are the most precious assets in any
business, but it cannot be bought or manufactured, it must be earned.
They are dedicated to earning the trust and loyalty of our associates, clients,
customers, shareholders, the communities in which we operate and one another,
by performing our work in accordance with there Code of Business Conduct
and there core values of Team Spirit, Customer Focus, Responsibility and
Entrepreneurship.
Vision
The aim is to give everyone involved with Adecco the opportunity to improve
their situation, be it at work, at home, in leisure activities or in life.
They are the world leader in connecting people both globally and locally with
the talent they need and the work that they want. They seek those motivated to
11
make change and know that, as partners we can help them to shape and achieve
their personal.
o Recruitment Solutions
o Staffing Solutions
o Professional Staffing
o Talent Management
o Assessment Solutions
o Payroll Management
o Managed Services
• Information Technology
• IT Enabled Services
12
• Engineering, Process, and Infrastructure
Bajaj Finserv
13
14
ABOUT
Bajaj Finserv Ltd., incorporated in the year 2007, is a Large Cap company
(having a market cap of Rs 46296.91 Cr.) operating in Finance sector.
Bajaj Finserv Ltd. Key Products/Revenue Segments include Dividend which
contributed Rs 111.08 Cr to Sales Value (45.84% of Total Sales), Interest which
contributed Rs 62.93 Cr to Sales Value (25.96% of Total Sales), Wind Energy
which contributed Rs 58.37 Cr to Sales Value (24.08% of Total Sales), Income
from Sale of Share & Securities which contributed Rs 9.94 Cr to Sales Value
(4.10% of Total Sales), for the year ending 31-Mar-2016.
For the quarter ended 30-Jun-2016, the company has reported a Consolidate
sales of Rs. 2731.36 Cr., up 10.69% from last quarter Sales of Rs. 2467.57 Cr.
and up 29.25% from last year same quarter Sales of Rs. 2113.19 Cr. Company
has reported net profit after tax of Rs. 816.30 Cr. in latest quarter.
15
HISTORY
The company through its joint ventures and subsidiaries employs over 20,000
employees and has establish nationwide presence across over 1400 locations.
The company is currently engaged in consumer finance businesses, life
insurance, and general insurance and has plans to expand its business by
offering a wide array of financial products and services in India. Apart financial
services, Bajaj Finserv is also active in wind–energy generation.
Bajaj Finserv was ranked among The Economic Times 500 as 119 in 2015.
The financial services and wind energy businesses were transferred to Bajaj
Finserv Limited (BFS) as part of the recently concluded demerger from Bajaj
Auto Limited, approved by the High Court of Judicature at Bombay by its order
dated 18 December 2007. The demerger was effective on 31 March 2007.
BFS is engaged in life and general insurance businesses through its joint
ventures with Allianz SE namely Bajaj Allianz Life Insurance Company
Limited and Bajaj Allianz General Insurance Company Limited.
Bajaj Finserv Lending hits lig on 0% interest finance. India Info line News
Service 17:22. Apr 17.2012. The economy continues to he the silver fining in an
economic environment riddled with volatility and uncertainty. Today. 0%
finance holds an over ll% share in the total consumer durables industry. Out of
the total sales of over [NR 36850 Cr annually. over 4053 Crore are bought on
0.1 interest finance. While the industry is growing at 9% YOY. 0% interest
finance is growing at 13 times as much with over I 18% growth YOY.
16
In turn. Bajaj Finserv Lending continues to be the largest driver of this growth
with over 9% share and growing at 88% YOY. This puts Bajaj Finserv Lending
in a clear leadership position. Today. one out of every 5 flat panel TVs is bought
on the 0% interest consumer durables loans option from Bajaj. This growth has
come at the back of significant investments made in distribution. technology
and process automation. They have invested deep in technology and process to
create long term sustainable advantages. This has allowed them to create win-
win propositions for all members in the ecosystem.
Available at over 4000 outlets across the country across metros. tier 2&3 cities.
Bajaj Finserv Lending 0% interest consumer durables loans are available in
places where other finance options like credit cards may have low penetration.
Even where other finance options are available. Bajaj Finserv Lending 0%
interest option offers a far better experience. All a customer needs to do is to
walk into any of the consumer durables stores in the country. choose the desired
product. and approach the in out store Bajaj Finserv Lending representative.
Within a few minutes. the person gets an approval on the loan. The customer
pays the defined down payment for the selected product and the remaining
amount. Is divided into equal monthly installments. The customer can also
choose from a range of loan tenors. ranging from 12 to 18 montly. This brings
down the cost of ownership and also helps the customer trade up. For example.
if a person had a budget of 40.000. in came of a cash down option. he would
have managed to get a 32inch LED TV. With 0% interest consumer durable
loan. he can now trade up to a 46 inch LED and bridge the gap with the 09%
interest consumer durable loan. In the case. he may choose to pay down an even
lesser amount than 40000 as the down payment and keep the rest as his savings.
They have developed credit policies and created partnerships to ensure the
customer goes through a simple. hassle-free and quick process. Their
technology platforms allow them to approve loans in as low an 3 minutes while
17
he is in the shop. selecting his favorite product. For the customer. this life-event
should be about buying his aspirational device without having to worry about
the money he may need. The company has gone a step further and introduced an
innovative offering through the EMI card. Available only for existing 0%
interest consumer durable loans customers. the EMI card allows an existing
customer to go to any of the Bajaj Finserv Lending affiliated stores and pay for
his next consumer durable purchase with a simple swipe of the FJVII card. The
customer already has a pie-assigned lom line on his account that is determined
through the internal policy framework and past behavior on his previous loan.
Bajaj Finserv Lending launches Extended Warranty with its 0% interest
Consumer Durable Finance.
Finance for their durables purchases. Extended Warranty launch is art of the
company's active pursuit of innovations and commitment to continuously
enhancing the value bundle.
18
Board of directors
Name Designation
D.J.Balajirao Director
19
Product Profile of the Organization
Home Loan
Portfolio
Three/Two Wheeler
Loan
Mortgage Loan
20
21
Current Position
22
Launch of Rural Lending:
The company launched its rural financing business in 7 branches and 30 spokes
across Maharashtra.The full product suite consisting of consumer electronics
financing,gold loans and refinancing loans have been launched in these markets.
23
Bajaj Finserv Share Holding
24
Future Plan of the Organization
25
Awards
CIO 100:
Recently, we also won the CIO 100 Innovation award for two of our innovations
- EMI Card and Flexi saver.CIO 100 is an annual award program that
recognizes organizations that exemplify the highest level of operational and
strategic excellence in information technology (IT). CIO magazine has a long
and proud tradition of honoring leading companies for business and technology
leadership and innovations through its premiere award program – CIO100. Now
in its 25th year in the USA, it is an acknowledged mark of enterprise IT
excellence. It’s a celebration of 100 organizations (and the people within them)
that are using information technology in innovative ways to deliver business
value, whether by creating competitive advantage, optimizing business
processes, enabling growth or improving relationships with customers. Hosted
in countries such as Canada, Sweden, Australia, Singapore, Vietnam, Hungary
and India, the CIO 100 Awards is a truly global recognition. It is an
acknowledged mark of excellence in enterprise IT.
26
Vision and Mission of the Organization:
Vision:
Mission:
Bajaj Finserv aims to be the most useful, reliable and efficient provider of
Financial Services. It is our continuous endeavor to be a trustworthy advisor to
our clients, helping them achieve their financial goals.
27
and general brokers for shares ,debentures, debenture-stock, bonds, units,
obligations, securities ,commodities, bullion currencies and to manage
the funds of any person, firm, body corporate or trust by investment in
various avenues like Growth Fund, income fund, risk fund, tax exempt
funds, pension /superannuation funds and to pass on the benefits of
portfolio investments to the investor as dividends, bonus, interest, etc.
2. To carry on the business as an investment company and to underwrite,
sub-underwrite, to investigating , and acquire by gift or otherwise and
hold, sell, buy or otherwise deal in shares debentures, debentures-stocks,
bond, units, obligations and securities issued or guaranteed by Indian or
Foreign Governments, States, Dominions, Sovereigns, Municipalities.
DEPARTMENTS
Different Departments
Organization Hierarchy:
A key issue in accomplishing the goals identified in the planning process is
structuring the work of organization. Organizations are group of people, with
ideas and resources working toward common goals. The purpose of the
organizing function is to make the best use of the organizations resources to
28
achieve organizational goals. Organizational Structure is the formal decisions
making framework by which job tasks are divided, grouped and coordinated.
Formalization is an important aspect of structure. It is the extent to which the
unit of organization is explicitly defined and its policies, procedures and goals
are clearly stated. It is the official organizational structure conceived and built
by top management. The formal organization can be seen and represented in
chart form. An organization chart displays the organizational structure and
shows job titles, lines of authority and relationship between departments.
Organizational Structure allows the expressed allocation of responsibilities for
different functions and processes to different entities. Ordinary description of
such entities is as branch site, department, work group and single group of
people.
Rahul Bajaj
[Chairman]
Nanoo Pamnani
[Vice-Chairman]
Rajeev Jain
[Ceo]
Devang Mody
[President Consumer Business]
29
Deepak Reddy
[Chief Human Resources]
Manev Mianwal
[Group Marketing Head]
Pankaj Thadan
[Chief Compliance Officer]
Amit Gainda
Business Head - Mortgages
Rajesh K
[Chief Risk Officer]
Diwakar Pundir
[Chief Credit Officer]
Ashish Sapra
[Business Head - Cross Sell]
Amit Raghuvanshi
[Business Head - Sales Finance]
30
Atul Jain
[Chief Collections Officer]
Samir Mehta
[Business Head Commercial Lending]
B. Sreenivas
[Business Head - Insurance Services]
Vivek r. Likhite
[group corporate audit head]
M M Muralidharan
[Treasurer]
Deepak Bagati
[Business Head - Business Loans]
Samir Satyam
[BH - Loan Against Securities]
Sanjeevvij
[BH - Construction Equipment]
Organizional Hierarchy
31
RESEARCH DESIGN AND METHODOLOGY
Introduction
32
Sources of Data Collection
The study is exploratory in nature, makes use of mainly secondary data. The
data been collected from
The annual reports of the company
Company website
Internet
Objective of Project
33
Research Methodology
The study is exploratory in nature, makes use of mainly secondary data. The
data has been collected from the annual reports of the company, Books,
Company website, Internet etc.
Time Frame
Due to restricted period of time i.e. 45 days, I have collected 3 case studies.
Key concepts
Lending:
A person or organization that makes a loan. That is, a lender gives money
to a borrower with the expectation of repayment in a timely manner,
almost always with interest.
Surrogates:
A surrogate means document requirement criteria for loan approval
process.
Bajaj Dedupe:
Bajaj Dedupe means there is problem occurred in the previous Bajaj loan.
BRAND IDENTITY
34
Bajaj Finserv is the financial services company of the Bajaj Group. Its current
business lines include Protection through Bajaj Allianz Life Insurance and Bajaj
Allianz General Insurance. Lending through Bajaj Finance Limited and Wealth
Management through Bajaj Financial Solutions Limited. All underlying
business currently operate with their independent brands.
With the intention to build a set of financial services businesses in coming years
that share the Bajaj Finserv Groups of values of Reliability. Innovation and
Efficiency and provide customers with high quality products and services. Bajaj
Finserv has created its brand identity. The new identity is easily identifiable and
yet distinct. All the businesses under Bajaj Finserv would use the common
identity in a coherent manner such that consumers experience through arch
business. the Bajaj Finsen' values and identify the new brand identity with the
same.
Brand ‘Bajaj Finserv is symbolized by a unique identity that aligns our various
businesses for our consumers and business partners. distinguishes it from
competitors and promotes the strong values that Bajaj Finserv stands for. Bajaj
Fiservs brand completely embodies its growth and services
Current Bajaj logotype identifies and stands on the very established and
respected Bajaj identity and the 3-dimensional seal with the B and F makes the
new identity uniquely recognizable. The colour blue in the logo indicates
confidence & strength. The round ball symbolizes the world with focus on
India.The brand delivers a distinctive and contemporary identity, which
communicates Bajaj Finserv values in dynamic and consistent manner and is
designed to be easily recognizable and yet differentiated so as to build an
enriching and sustainable relationship with all who experience it.
35
36
37
Flow Chart Of The Application Process, To Loan Approval To File
Documentation And File Send
38
DOCUMENTS REQUIRED FOR THE LOAN APPROVAL
• Residential proof
• ID Proof
• Cancelled Cheque
• Credit Card
• Office ID (For Govt. Employee)
• Visiting Card (For Govt. Employee)
• ECS form
• Paper File
39
Surrogates Required for Loan Approval:
A.WOW Policy
B.WOW Lite Policy
C.WOW Extension Policy
A.WOW Policy:
WOW Policy mostly used for those customer who are in the listed companies,
have the credit card, as per the rule of company the maximum Loan to
Value(LTV) 83% to 90% it depends on
the customer document.
40
B.WOW Lite Policy:
WOW Lite Policy used for those customers whose net exposure is up to25000
to 35000.and as
per the company rules the maximum Loan to Value (LTV) is 83% for all
surrogates.
Following are the Surrogates included in that Policy:
41
42
SURROGATES REQUIREMENTS FOR LOAN APPROVAL:
43
FORMS PROVIDED BY BAJAJ FINSERV FOR LOAN PROCESS
44
45
BAJAJ FINSERV APPLICATION FORM
46
LOAN TERM SHEET
47
BAJAJ FINSERV OFFICIAL MOBILE APPLICATION
48
Features and Benefits
Products Covered
With a geographical span of over 140 cities across India, we cover the entire
length and breadth of the country with our range of products such as:
LED/LCD TV
Washing machine
Microwave oven
Refrigerators
Air conditioner
Music system
Smart phones
Tablets
Camera/camcorder
Laptop/desktop
Inverter
Generator
Air/water purifier
Dryer
49
Dishwasher
Cooking range
EXTENDED FINANCE
Extended Finance from Bajaj Finserv is the smartest option to buy durables like
printers, coffee makers, water purifiers, etc., on easy EMIs if you have already
purchased bigger durables like ACs, refrigerators, LED/LCD TVs and much
more using Bajaj Finserv Durable Finance. You can also avail of Extended
Finance using your EMI card.
Inverters
Documents Required:
To apply for Durable Finance from Bajaj Finserv, the following documents will
be required
Photo id proof
Address proof
Photocopy of RC book (not applicable for vehicles registered after 2004 &
commercial cars)
51
Fees and Charges
Product category Processing fees
How to Apply
You can available of Durable Finance without having to wait in never ending
queues or visiting the branch. Here's how you can buy your favourite durable on
easy EMIs:
You can also apply for durable finance through our easy-to-use Bajaj Finserv
App. All you have to do is download the app from the store and allow it to
retrieve your details either through your social media accounts or your Aadhaar
card.
The app will take 60 seconds to verify your details and accept your application.
Once it has been approved, you’ll receive a deal id. Present this ID at one of our
52
partner stores and walk away with your favourite durable products at interest-
free EMIs.
Partner outlets
Apart from submitting a few essential documents like PAN card, driving
license, etc., and filling a simple application form, most of the formalities
can be completed while you are choosing your favourite durable product
at the store.
EMI card
You can also use your EMI Card to buy your favourite durables at any of our
partner stores. All you need to do is swipe, sign and buy.
Apply online
You can apply for an EMI card online on our customer portal.
It will take 7-10 days for the EMI Card to be delivered to your registered
address.
Schemes Description
53
12/4 It means the 4 months payment will be taken as an advance
and
remaining payment will be distributed in 8 months.
As there are some disadvantages in going through BFL, but there are some
advantages as well over its competitors.
54
2. While paying through credit card. that much amount is blocked from the card.
As there is monthly limit in each card, so it is wise to go for BFL
3. If a customer uses credit card on payment, and doesn’t able to maintain the
minimum balance on the next month, them he has to pay fine on the complete
amount, whereas BFL customers don’t have to pay fine on the whole amount if
they unable to pay next time. Fine is being charged on the next month
installment only.
4. Credit card is not given to every customer. so those customers who can’t
afford credit card can definitely go for BFL.
5. BFL provided loan on many type of surrogates, not all company provides
loan on these many surrogates.
6. If a company is taking finance from BFL then he will get easily insurance
policy from Bajaj Alliance without any verification on insurance part.
7. Flexible EMI scheme in many products are available. BFL provides many
schemes such as 12/4. 10/2. 18/6. 24/6 etc. Customer can choose any EMI
option according to their paying capability.
Competitors
• Cash
• Capital First
• Tata Finance
• Reliance Capital
55
CAPITAL FIRST
Within a short time, Capital First has built a large network and provides
financing in 222 locations across the length and breadth of the country. The loan
56
book of the company is of high quality as compared to the industry, with Gross
and Net NPA 1.07% and 0.55% respectively. The company enjoys a high credit
rating of AA+ which has been achieved by very select financial institutions in
India. Capital First is focused on building an institution on strong pillars of
ethics, values and high corporate governance.
TATA FINANCE
Tata Capital Limited was established in 2007 with the sole aim of providing
focused and transparent financial solutions to help people realize their dreams.
57
Being a subsidiary of the legendary Tata Sons Limited, we strive hard to make
this happen.
Our pursuit gave birth to Tata Capital Financial Services Limited, a one-stop
financial service provider that caters to the diverse needs of retail, corporate and
institutional customers across businesses.
Today, Tata Capital Financial Services Limited is 100 branches old and
counting.
At the core of brand Tata Capital is our proposition - 'We only do what's right
for you'. It is our belief system, our unwavering resolve to deliver financial
solutions that are 'right' for our customers and the society at large. It embodies
the relationship we wish to cultivate with our customers. An unshakeable bond
rooted in trust by delivering superior customer experience at all times.
RELIANCE CAPITAL
58
Reliance Capital Limited (RCL) was incorporated in year 1986 at Ahmedabad
in Gujarat as Reliance Capital 8: Finance Tm limited. the name RCL came into
effect from January 5. 1995. In 2002. RCL shifted its registered office to
Jamnagar in Gujarat before it finally moved to Mumbai in Maharashtra. in
2006. In 211%. Reliance Capital Ventures Limited merged with RCL and with
this merger the shareholder base of RCL rose from 0. 15 million shareholders to
l .3 million.
RCL entered the Capital Market with a maiden public issue in l990 and in
subsequent years further tapped the capital market through rights issue and
public issues. The equity shares were initially listed on the Ahmedabad Stock
Exchange and The Stock Exchange Mumbai.
Presently the shares are listed on The Stock Exchange Mumbai and the National
Stock Exchange of India.
RCL in the initial years engaged itself in steady annuity yielding businesses
such as leasing. bill discounting. and intercorporate deposits. Later. in I993
diversified its business in the areas of portfolio investment. lending against
securities. custodial services. money market operations. project finance advisory
services. and investment banking.
RCL has since diversified its activities in the areas of asset management and
mutual fund: life and general insurance: consumer finance and industrial
59
finance: stock broking: depository services: private equity and proprietary
investments: exchanges. Asset reconstruction: distribution of financial products
and other activities in financial services
MARKET
10.00%
Rel ai nce
35.00%
Tata Ca pi ta l
Bajaj Fi nance
30.00% Capi tal First
25.00%
60
SWOT ANALYSIS OF BAJAJ FINSERV LIMITED
Strengths:
Product design
Highly experienced
and development
management
capabilities
Widespread
Extensive R & D
distribution
focus
network
Great financial
support network High economies of
(For financing the scale
automobile)
High economies of
scope
61
Weaknesses:
Hasn't
employed the
excess cash
for long
Sales executives
Not a global
doesn't get
player in spite
support from
of huge
owner driven
volumes
stores
Weakness
62
Opportunities
Proposing to
Untapped market launch more other
above other Opportunities financial schemes
lending companies and more product
introduction
Growing demand
for 0% financial
schemes especially
in emerging
markets
63
Threats
Threat of cheap
imported from
china
Threat of other
Margins getting
financial lenders
squeezed from
like future
both the Threats finance etc
direction(Price
offering the
as well as Cost)
same benefits
The
competitions
catches-up any
new innovation
in no time
64
Q.1) HOW IS BAJAJ FINSERV DOING IN CONSUMER
DURABLE GOODS?
15.00% 15.00%
BEST
25.00% GOOD
BAD
WORST
45.00%
65
Q.2) ON WHAT BASIS YOU CHOOSE BAJAJ FINSERV TO
TAKE LOAN?
15.00%
66
Q.3) FROM WHICH SOURCE YOU GET TO KNOW ABOUT
BAJAJ FINSERV?
20.00%
35.00%
OUTDOOR MEDIA
15.00% T.V. ADVERTISEMENT
NEWSPAPER
MOUTH TO MOUTH
30.00%
67
Q.4) IS DOCUMENTATION OF BAJAJ FINSERV IS
LENGTHY?
YES NO
68
Q.5) ARE YOU SATISFIED WITH OUR SCHEMES AND
SERVIES?
YES NO
69
CASE STUDY:
Case No.1
Name of the Applicant Mr. Ranjeet Kumar
Age 35 year
Permanent Address Mahatma Gandhi Road
Nehru Nagar, Near Rajouri Garden
New Delhi-110021
Residential Address Gulmohar Park, ITI Road
near ICICI Bank, Aundh Pune -411007
Occupation Service
Company Name SunGard, Pune
Salary 80,000/-PM
Purchase of Products
I. Samsung LED TV
II. Samsung Washing Machine
Cost of Products
I. Rs. 40,000
II. Rs. 35,000
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Mr. Ranjeet Kumar has the address proof but this Address Proof of other city, so
as per loan requirement address proof should be of current city.
Occupation Service
Company Name SunGard
Salary Rs.9,60,000 PA
House Rented
Place(Stay) Aundh
Document Required
Address Proof Bank Statement
ID Proof PAN Card, Voting Card
Credit Card SBI Credit Card
(Platinum)
Products
Samsung 40’ LED TV Rs. 40,000
Samsung Washing Rs. 35,000
Machine
Solution: -
71
II. As an address proof for taken a loan it is must to Mr. Ranjeet Kumar to
submit either Rent agreement or credit card statement which is on current
city address.
III. As an ID proof requirement he should be provide voting card or PAN
Card or Passport.
Case No.2
72
Name of the applicant: - Mr.Anurag Kasat (Existing Customer)
Occupation Service
Company Name Mahindra and Mahindra
Salary Rs.6,00,000 PA
House Own
Place Aundh
Document Required
Address Proof Passport
ID Proof Passport
Credit Card HDFC Bank
Product
Sony LED Rs. 52,000
Solution:-
73
II. Due to the system Error the loan has been rejected, When the
Mr.Kasat has produced the copy of NOC to the Bajaj Finserv
Lending. Then the Company sorts out his problem by
updating the previous loan history of Mr.Kasat.
III. For reflecting the database changes system required the
duration of one month so after reflecting the changes his
loan get approved.
Case No.3
Age 27 year
Residential Address Swapnagari society, ajmera
Near H.A.Ground Pimpri, Pune -411018
Occupation Service
Company Name Alfa Laval
Salary 30,000/-PM
Purchase of Products
I. Sony LED TV
II. Samsung Washing Machine
Cost of Products
I. Rs. 42,000
II. Rs. 30,000
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Document Required for Loan
Name of Mr.Akshay kadam on the credit card and Pan Card is mismatch
i.e.Akshay Kadam on credit card and Akaash Kadam on PAN Card.
Occupation Service
Company Name Alfa Laval
Salary Rs.3,60,000 PA
House Own
Place Pimpri
Document Required
Address Proof Electricity Bill
ID Proof Pan Card
Credit Card ICICI Bank
Product
Sony LED Rs. 42,000
Samsung washing Rs. 30,000
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Machine
Solution:-
a) Calculation of EMI and Down payment:
Case No.4
I. Sony LED TV
II. Sony Home Theater
Cost of Products
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I. Rs. 52,000
II. Rs. 35,000
Minimum CIBIL Score required for loan approval is 750 or more; Mr.Avinash
Thite has 710 CIBIL Score, His score below the criteria so loan has been
rejected.
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OBSERVATIONS
While paying through credit card, that much amount is blocked from the
card. As there is monthly limit in each card, so it is wise to go for Bajaj
Finserv Lending.
Bajaj Finserv Lending provided loan on consumer durable product to the
customer as per the surrogates.
Flexible EMI scheme in many products are available. Bajaj Finserv
Lending provides many schemes such as 12/4, 10/2, 18/6, 24/6 etc.
Customer can choose any EMI Scheme option according to their paying
capability.
As per the requirement of finance company for address proof would be
required current place proof, and for ID proof required the valid name of
person it shows with the help of case studies.
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SUGGESTIONS
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CONCLUSION
There are many organizations in the world which are providing consumer credit
services which are helpful for the financial stability. Financial stability is very
important not only for the businesses but also for the consumers. The businesses
as well as the consumers need the stability regarding the financial matters
because without the stability no one could be very innovative in the longer run.
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BIBLIOGRAPHY
Online References:
WWW.Bajajfinservlending.in
WWW..com
WWW.Salesforce.com
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