PowerPoint Presentation

[Audio] Good morning everyone. Welcome to our meeting on L&T Finance and strategies for credit rejection control. My name is Uttam Maity and I am the Regional Training Manager for West Bengal. Today, we will be discussing methods to enhance sourcing productivity and quality, and maintain a high repayment record for our company. Let's begin with our first topic: Rejection Control at L&T Finance. Our company has been certified as a Great Place to Work for the years 2020-2021, and we are always working towards improvement and providing top-notch services to our customers. So, without any further delay, let's start our presentation..

[Audio] Slide number two will cover strategies for optimizing our sourcing process and increasing throughput. This is crucial because it directly affects our company's productivity and profitability. By focusing on increasing sourcing throughput, our operations can run more smoothly and efficiently. Next, we will discuss ways to improve the productivity of our financial loan offering, FLO. By increasing its productivity, we can increase revenue and better serve our customers. This will also help maintain a good reputation and strong client relationships. Our main goal is to reduce the cost of credit checks for our customers, making our services more affordable and improving their overall experience. Streamlining the credit check process will save time and resources and ultimately improve our bottom line. Additionally, we will also cover the importance of maintaining high standards and implementing quality control measures to ensure efficient and top-notch sourcing results. This will also contribute to building a strong and reputable brand image. Finally, it is crucial to maintain a good repayment record as it builds customer trust and confidence. By providing a positive experience for our customers, we can retain their business and attract new clients through positive word-of-mouth. These strategies will not only optimize our operations, but also create a positive and successful work environment. Let's continue to strive for excellence and make L&T Finance a great place to work..

[Audio] This slide discusses the reasons for credit rejection and their respective solutions. A table containing data on reason for credit rejection and solutions is provided for reference. The first reason for rejection is due to Association Rule. To prevent this, we recommend asking customers about their active loans before they log in to gain a better understanding of their financial situation. The second reason for rejection is due to Exposure Rule, in which we suggest calculating the outstanding loan amount of the customer's active loans. This will help us make a well-informed decision. The third reason for rejection is due to DPD in the MFI sector. To address this, we suggest checking the customer's repayment record before they log in to get a clearer picture of their payment history. It is important to note that having an active LTF loan is necessary for fresh customer sourcing. Additionally, for existing customers, it is important to use MERC and make a call log to understand their current situation. When reviewing the sanctioned loan amount, it is important to consider the minimum disbursed amount, known as MTRP. This ensures a more accurate evaluation of the loan's feasibility. With this, our discussion on Credit Rejection Reason & Solutions concludes. We appreciate your attention and hope this slide has provided valuable information on our Rejection Control methodology. Thank you for choosing L&T Finance, we look forward to meeting your financial needs. That's all for this slide, let's move on to our next topic..

[Audio] Today, we will discuss rejection control strategies for L&T Finance. As Regional Training Manager for West Bengal, I am responsible for ensuring our team is equipped to handle rejections effectively. Our organization takes pride in being certified as a Great Place to Work and strives to maintain this reputation by providing the best services to our customers. Slide number 4 out of 13 focuses on one of the most common reasons for loan rejections - FOIR (Fixed Obligation to Income Ratio). The table shows that the main reasons for FOIR rejections are high EMI obligations and a mismatch in minimum household income. To address these issues, we can implement the following solutions: Firstly, we can inquire about customers' total active loans and EMIs before they apply for a loan to better understand their financial situation and make informed decisions. Secondly, for cases where the minimum household income does not meet the required criteria, we can recheck the income details and verify any discrepancies to ensure we only offer loans to individuals who can comfortably afford them. By implementing these strategies, we can reduce the number of loan rejections and provide a smoother and more efficient experience for our customers. Let's continue to work towards making L&T Finance a top choice for individuals and businesses in need of financial assistance..

[Audio] Our presentation today is about L&T Finance Rejection Control. We will be discussing the various reasons for loan application rejections and strategies for effectively managing them. On slide 5, we will examine the BPM rejection reasons. One common reason is when the customer is not interested in our low sanction amount, which may be due to their financial situation or lack of trust in our organization. Another reason is when the customer is related to FLO and already has a loan from another financial institution, making them ineligible for another loan. A third reason is when the customer did not originally apply for a loan, potentially due to misinformation or lack of awareness about our products. The fourth reason is the presence of a "ring leader" within the customer's social circle, increasing the risk of loan default. Finally, rejections can also occur when the customer is from an unapproved village that does not meet our lending criteria. It is vital that we understand these reasons and work to minimize them in order to streamline the loan approval process. Thank you and let's move on to the next slide..

[Audio] To effectively reduce the number of rejected applications, it is crucial to understand the reasons behind them. This is why the team at L&T Finance has identified the top reasons for rejection in the BPM process. Number 6 on the list is issues with KYC, specifically when the original documents are unavailable or invalid, which can greatly impact the credibility and reliability of the customer's information. At number 7, we have found that having blood relatives as group members can lead to rejections due to potential conflicts of interest and impartiality. At number 8, we have seen rejections for customers who do not fall within the geographical limits set by their branch, an important factor for ensuring financial stability. Another common reason for rejection is when the applicants and co-applicants do not fall within the age limit, which can greatly impact their ability to manage financial commitments. Finally, at number 10, rejections can occur when the customer's profile and income do not meet satisfactory standards, highlighting the importance of adhering to necessary criteria for financial support. By being aware of these issues, we can work together to reduce rejection rates and improve success in the BPM process. Let's continue our efforts to make L&T Finance a great place to work with attention to detail in all aspects of our business." To effectively minimize the number of rejected applications, it is crucial to understand the reasons behind them. The team at L&T Finance has identified the top reasons for rejection in the BPM process. These include issues with KYC, such as unavailable or invalid documents, which can greatly impact the reliability of customer information. Additionally, having blood relatives as group members can lead to rejections due to conflicts of interest and impartiality. Geographical limitations set by branches may also result in rejections for customers, which is an important consideration for financial stability. Ineligibility for age limits can also lead to rejections, which can impact the ability to manage financial commitments. Finally, rejections may occur if the customer's profile and income do not meet satisfactory standards, emphasizing the importance of meeting necessary criteria for financial support. By being aware of these issues, we can work together to reduce rejection rates and improve success in the BPM process. Let's continue our efforts to make L&T Finance a great place to work with an emphasis on attention to detail in all aspects of our business..

[Audio] Welcome to slide number 7 of our presentation on "Rejection Control" for L&T Finance. In this presentation, we will be discussing the various checkpoints that can help reduce rejection of loan applications. The first checkpoint is the age of the applicant and co-applicant, as per our policies. The second checkpoint involves the occupation of the customer and co-applicant and the need for stable and reliable income. Another important factor is whether the customer and co-applicant agree to the JLG model or not. This can greatly impact the success of the loan. We also need to consider if the customer and co-applicant belong to the same or nearby village, as this can help build trust and rapport. The co-applicant's consent for the loan is also necessary to ensure mutual commitment. Additionally, it is crucial to check for any commission being taken for the loan process to prevent fraud. Moving on, we need to ensure the loan is being used for its intended purpose and that the quality of the house meets our standards. The number of earners and their disposable income in the family can give us a better understanding of their financial stability. We must also consider the number of dependent children and whether the customer has a valid bank account for loan disbursement and repayment. Finally, we need to know the fixed obligation to income ratio to determine the customer's ability to repay the loan. These are the various checkpoints that can help in reducing rejection of loan applications. Thank you for listening to slide number 7 of our presentation. Stay tuned for the remaining slides as we delve deeper into the topic of "Rejection Control"..

[Audio] Today, we will discuss the topic of OPS rejections and how to overcome them. On slide number 8, we see a question asking about the large number of OPS rejections. This question reflects the concern of our team and emphasizes the importance of the topic. In the finance world, we often face rejection of our proposals and requests. These rejections can be demotivating and hinder our progress. But fear not, as we have a solution on this slide. L&T Finance has been certified as a great place to work, reflecting our dedication to continuous learning and growth. Under the guidance of our esteemed Regional Training Manager, Mr. Uttam Maity, we will navigate the challenges of rejection control. Through our training, we will gain the necessary skills to understand reasons for OPS rejections and how to effectively overcome them. By implementing these strategies, we can turn rejections into opportunities for improvement and success. Let's keep moving forward with determination and a positive mindset..

[Audio] Slide number 9 out of 13 focuses on the topic of "Rejection Control" as part of our ongoing workplace training. Our Regional Training Manager, Mr. Uttam Maity, will be leading this session. One common question that arises is how to handle rejection, and we are not alone in this confusion. Let's discuss the steps we can take to improve our rejection control. First, we need to identify the reasons for rejection, such as inadequate training, lack of resources, or poor communication. Once we know the root cause, we can work on finding solutions to overcome these challenges. Next, let's focus on maintaining a positive mindset. Rejection can be discouraging, but it is an opportunity for learning and growth. Effective communication is also crucial in preventing misunderstandings and rejections. This includes both our verbal and non-verbal communication, so being mindful of our body language is important. Lastly, we should be open to feedback and use constructive criticism to improve and avoid future rejections. Remember, rejection is not a failure but a chance for growth. Let's embrace it and strive for better rejection control. Now, onto our next slide..

[Audio] Today I will be sharing some important checkpoints that can help reduce the number of rejections in your work. Following these guidelines can significantly decrease your rejection rate. It is crucial to have a clear understanding of the standards and processes set by our organization to ensure that all necessary requirements are met and to minimize the chances of rejection. Attention to detail is essential to avoid errors and discrepancies, which not only saves time and resources but also prevents rejections. Effective communication with all parties involved is key in preventing misunderstandings and delays that can lead to rejections. Continuously reviewing and updating your work can help identify potential issues and address them before they cause rejections. Proper training and performance evaluations also play a role in reducing rejections. With training, we can equip ourselves with the necessary skills and knowledge to avoid common mistakes. Evaluations can help identify areas for improvement and work on them to minimize rejections. Maintaining a positive and professional attitude is vital in producing quality work and preventing unnecessary rejections. By keeping these checkpoints in mind and implementing them in your work, you can significantly reduce the number of rejections. Let's strive towards achieving zero rejections and continue to make L&T Finance a great place to work..

[Audio] We are now on slide number 11 out of 13 in our discussion on Rejection Control. Our focus now is on the main cause of OPS rejections. It has been found that most rejections occur because the bank document guidelines provided by the OPS team were not followed. The OPS team has established specific guidelines for all bank documents to prevent rejections. Not complying with these guidelines not only results in rejected applications but also causes delays in the loan process and impacts the efficiency of our operations. To improve our rejection control rates, it is crucial that we closely adhere to these guidelines. Let us continue working together towards achieving a higher success rate in rejection control. This concludes slide number 11, and we will now move on to our final slide..

[Audio] This slide focuses on L&T Finance's Rejection Control. Our rejection policies aim to reduce rejections and ensure quality sourcing. In the loan application process, certain fields and documents, such as the applicant and co-applicant's name and KYC-1, are essential. However, we recognize that errors or missing information in other fields can lead to rejections. We are pleased to announce that our new system allows editing of all fields, except for the applicant and co-applicant's name and KYC-1. This means that minor discrepancies or mistakes in these fields will not result in immediate rejection. Our goal is to give every customer a fair chance and not let small errors hinder their financial goals. Together, let us make L&T Finance a great place to work, with a commitment to reducing rejections and providing exceptional customer service. Thank you for your time and attention on this important matter..

L&T Finance. THANK YOU. PUBLIC.