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Questions and Answers
What must be assessed for the income of the applicant and co-applicant?
What must be assessed for the income of the applicant and co-applicant?
- Previous tax filings
- Business income as per the cash flow template (correct)
- Projected income for the next year
- Total assets owned by the applicant
What methodology is suggested for determining net income from the business?
What methodology is suggested for determining net income from the business?
- Triangulation (correct)
- Annual percentage growth calculation
- Linear regression analysis
- Accounting for depreciation
Which individual is responsible for approving any waivers or deviations?
Which individual is responsible for approving any waivers or deviations?
- Chief Financial Officer
- Chief Business Officer (correct)
- Loan Officer
- Branch Manager
What type of income is NOT mentioned in the guidance for income assessment?
What type of income is NOT mentioned in the guidance for income assessment?
Which document is required for assessing business income?
Which document is required for assessing business income?
What should be included in incidental charges during a loan?
What should be included in incidental charges during a loan?
What is the primary purpose of the cash flow analysis?
What is the primary purpose of the cash flow analysis?
Which of the following is a feature of the cash flow analysis process?
Which of the following is a feature of the cash flow analysis process?
What components are included in the Total Income calculation?
What components are included in the Total Income calculation?
Which method is used for calculating loan eligibility?
Which method is used for calculating loan eligibility?
What does FOIR stand for in the context of cash flow analysis?
What does FOIR stand for in the context of cash flow analysis?
When determining the final loan eligibility amount, which of the following factors is NOT considered?
When determining the final loan eligibility amount, which of the following factors is NOT considered?
What is the maximum FOIR percentage considered in the cash flow assessment?
What is the maximum FOIR percentage considered in the cash flow assessment?
In the cash flow method, what is the purpose of the triangulated Q & A?
In the cash flow method, what is the purpose of the triangulated Q & A?
What qualifies as 'Other Income' in the Total Income calculation?
What qualifies as 'Other Income' in the Total Income calculation?
How is the loan amount derived based on the cash flow assessment?
How is the loan amount derived based on the cash flow assessment?
What is the primary factor in determining loan eligibility based on Cash Flow Assessment?
What is the primary factor in determining loan eligibility based on Cash Flow Assessment?
What happens to the loan offer after the 90-day validity period?
What happens to the loan offer after the 90-day validity period?
Which of the following is NOT a mode of disbursal mentioned?
Which of the following is NOT a mode of disbursal mentioned?
What is the validity period of the bureau check from the latest date?
What is the validity period of the bureau check from the latest date?
How long is the sanction validity of the offer letter from the date of sanction?
How long is the sanction validity of the offer letter from the date of sanction?
Which of the following parties is primarily considered when recommending the loan amount?
Which of the following parties is primarily considered when recommending the loan amount?
What must happen before a loan is disbursed after the bureau check?
What must happen before a loan is disbursed after the bureau check?
Which of these statements is accurate regarding the loan process timeline?
Which of these statements is accurate regarding the loan process timeline?
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Study Notes
Loan Charges and Fees
- Foreclosure letter charge is Rs. 200 plus applicable taxes for the soft copy of the foreclosure statement.
- Any incidental charges incurred by Criss Financial Limited during the loan tenure are allocated to the loan account.
Loan Approval Process
- Waivers or deviations require final approval from the Chief Business Officer (CBO).
Cash Flow Analysis
- Income assessment for the applicant and co-applicant follows specific guidelines.
- Business income is evaluated using a cash flow template, with triangulation methods to ascertain net income.
Total Income Calculation
- Total income is aggregated from:
- Income from business
- Salary income
- Other income
Loan Eligibility Calculation
- Utilizes cash flow analysis method, with income and expenses structured in a templatized format.
- Final loan eligibility amount is determined by the least of:
- Requested loan amount
- Loan eligibility based on cash flow assessment considering FOIR at 50%
- Customer's affordable EMI
- Loan amount recommended by the Credit Manager
Disbursement and Repayment
- The validity of the offer/sanction letter is 90 days from the date of system sanction; cases are treated as fresh post this period.
- Bureau validity stands at 30 days until disbursement following the latest bureau check.
- Disbursement occurs via IMPS, NEFT, RTGS, transferring funds to the customer's account (applicant/co-applicant).
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