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Read this thread for tips and tricks to the young officers working in advance section of banks.
Disclosure: Following these tips and tricks are upto you only, I may or may not follow these in actual.
Let me start with the things you must know.
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Read this thread for tips and tricks to the young officers working in advance section of banks.
Disclosure: Following these tips and tricks are upto you only, I may or may not follow these in actual.
Let me start with the things you must know.
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1. KYC is most important. KYC doesn't only mean PAN and AADHAAR, but it also includes residential address and place of work also.
Never underestimate KYC.
2. Do follow every process laid by your bank for each and every loan.
Process is more important than work.
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Never underestimate KYC.
2. Do follow every process laid by your bank for each and every loan.
Process is more important than work.
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3. Complete every loan's document in such a way that even if this loan becomes NPA in future, nobody should be able to point out mistakes in your documents.
If the documents are in order, nobody could harm you in any situation.
Now the trickier part follows.
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If the documents are in order, nobody could harm you in any situation.
Now the trickier part follows.
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4. Avoid mortgage loans. Mortgage creates extra paperwork. Extra paperwork makes you prone to mistakes, and mistakes take you down.
If a loan could be covered in MUDRA or CGTMSE, cover it. Never demand collateral in the form of land and building.
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If a loan could be covered in MUDRA or CGTMSE, cover it. Never demand collateral in the form of land and building.
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5. Always give moratorium wherever possible, that too for the longest period possible. Even if customer doesn't wish to avail moratorium, allow it.
6. If you gave a moratorium of 18 months in a housing loan, tell customer that you have given 12 months moratorium.
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6. If you gave a moratorium of 18 months in a housing loan, tell customer that you have given 12 months moratorium.
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In this way 6 extra EMIs shall be served by the customer, and chances of quick mortality would be mitigated, and so shall the chances of action against you.
7. Whenever possible, sanction greater amount than customer has demanded. Deposit this extra amount back to loan a/c.
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7. Whenever possible, sanction greater amount than customer has demanded. Deposit this extra amount back to loan a/c.
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This way also the loan shall be in overflow, and chances of quick mortality shall be mitigated.
8. To complete the targets, you may open any loan account without documentation, but never disburse any loan without proper documentation at any cost.
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8. To complete the targets, you may open any loan account without documentation, but never disburse any loan without proper documentation at any cost.
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9. Always take PDCs in each and every loan accounts. Even if you finance someone an amount as little as Rs. 10,000/-, take PDCs.
10. Always demand one more stamp paper, than what is needed. Keep this extra stamp paper in another folder. These stamps shall come handy.
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10. Always demand one more stamp paper, than what is needed. Keep this extra stamp paper in another folder. These stamps shall come handy.
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11. Always take 3 balance confirmations at the time of first documentation.
12. Loans to Politicians, Journalists, Lawyers and Police personnel could be more risky. Inspect thoroughly.
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12. Loans to Politicians, Journalists, Lawyers and Police personnel could be more risky. Inspect thoroughly.
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