PowerPoint Presentation

[Virtual Presenter] Welcome everyone, we are here today to provide training on L&T Finance and its specialized tactics for controlling rejection. As the Regional Training Manager for West Bengal, it is my responsibility to introduce this topic to you. L&T Finance is dedicated to creating a positive working environment for its employees, and we are eager to share our certified strategies with you. So, without delay, let's begin our discussion on the first topic - rejection control..

[Virtual Presenter] Today, we will be discussing the topic of Rejection Control in the context of L&T Finance. As the Regional Training Manager for West Bengal, I have seen firsthand the challenges that many businesses face in increasing sourcing throughput, improving FLO productivity, and reducing customer credit check costs. By implementing rejection control strategies, we can effectively address these challenges and work towards improving sourcing quality and maintaining a good repayment record. Our ultimate goal is to become a certified Great Place to Work by MAY 202'-MAY a02S..

[Virtual Presenter] Today's training video is about Rejection Control. We will be discussing credit rejection reasons and solutions. As a regional training manager, I have witnessed the difficulties our customers face when it comes to credit rejection. It can be frustrating, but with the right knowledge and tools, we can find solutions. On slide number three, you will find a table with important data on credit rejection reasons and solutions. The first reason for credit rejection is due to the customer's association rule. If a customer has active loans before logging in, they may be rejected. To resolve this, we should ask the customer about their active loans before login. The second reason for credit rejection is the exposure rule. If the customer has a high outstanding loan balance of active loans before logging in, they may be rejected. To address this, we should calculate the outstanding loan balance of active loans before login. The third reason for credit rejection is DPD (Days Past Due), meaning the customer's MFI (Microfinance Institution) has not received loan repayments on time. To resolve this, we can check the customer's loan passbook for their repayment record before login. The fourth reason for credit rejection is when a customer has an active LTF (L&T Finance) loan. For new customers, it is necessary to check their loan eligibility. This can be done by checking the active loan status through MERC (Microfinance Enterprise Resource Center). If the loan is still active, it is important to make a call log and review the sanctioned amount. In summary, credit rejection can be a hindrance in the loan approval process, but by understanding the reasons and implementing the right solutions, we can help our customers obtain the loan they desire. I hope this information will aid you in your journey towards Rejection Control..

[Virtual Presenter] Slide number 4 of our presentation on Rejection Control will cover the FOIR Rejection Reason and Solutions. FOIR, or Fixed Obligation to Income Ratio, is a measurement used to evaluate a borrower's total fixed obligations in comparison to their income. A high FOIR can lead to loan rejection. To address this, we suggest asking customers about their active loans and EMIs before they apply for a loan to ensure their FOIR falls within an acceptable range. Another common reason for rejection is not meeting the minimum household income criteria. Our solution for this is to double check the household income and ensure it meets the required minimum. Implementing these solutions can reduce the number of rejections and increase the chances of successful loan applications. Effectively managing rejection reasons and finding appropriate solutions is crucial to maintaining a high approval rate and improving our services. This not only benefits our customers but also helps us achieve our goal of providing the best financial solutions. More valuable insights on rejection control will be shared in the upcoming slides..

[Virtual Presenter] This is slide 5 out of 15, where we will discuss the first two rejection reasons for BPM, or Business Process Management. These reasons pertain to potential customers who may not be interested in our services. The first reason being low sanction amounts, meaning the customer feels that the loan amount we can offer does not meet their needs. The second reason involves customers associated with FLO, or Foreign Lending Organizations, who may have different requirements and may not be interested in our services for various reasons. It's important to note that these reasons do not reflect our own performance, but external factors that can influence a customer's decision to use our services. Moving on to the next slide, we will cover two additional rejection reasons..

[Virtual Presenter] Slide number 6 of our L&T Finance training video discusses rejection control in the BPM process. The top reasons for rejection in the loan processing journey are reviewed, including issues in KYC such as unavailable or invalid original documents and blood relatives being group members. Rejection may also occur if the customer is outside the branch's geographical limit or if both the applicant and co-applicant are outside the age limit. Additionally, rejection may occur if the customer's profile or income do not meet our satisfactory criteria. It is important to be aware of and address these reasons in order to improve our rejection control process. Stay tuned for more information on this topic in our L&T Finance training video..

[Virtual Presenter] Slide number 7 will cover the checkpoints for reducing loan rejection in the application process. These steps must be carefully considered in order to increase the chances of loan approval. The first checkpoint is the age of the applicant and co-applicant, which determines their repayment capacity and the loan duration. The second checkpoint is their occupation, including their source of income and stability in their profession. Another key factor in evaluating their ability to repay the loan is their agreement to the JLG model, a joint liability group. It is important for all parties involved to be on board with this model. Being a member of the same or nearby village is also taken into consideration, as it shows a sense of community and potential support during unforeseen circumstances. The co-applicant's consent is crucial as it demonstrates their willingness and commitment to the loan. The commission for taking the loan is another factor that can indicate the applicant's intentions. Next is the purpose of the loan, which should be valid and necessary in order to determine the seriousness of the applicant. The quality of the applicant's house is also important, as it serves as collateral for the loan. The number of earners and their disposable income on a monthly basis can help evaluate their repayment capacity. The number of dependent children is also considered, as it can impact their disposable income and ability to repay. A valid bank account is a requirement, as it provides a secure mode of transaction and indicates the applicant's financial stability. Finally, the fixed obligation to income ratio is an important factor, as it shows the percentage of monthly income that goes towards fixed obligations such as loan payments and rent..

[Virtual Presenter] Today, we will be discussing the importance of rejection control in financial institutions, particularly for L&T Finance. It is essential for the success and smooth functioning of any business. As the Regional Training Manager for West Bengal, I have observed a concerning increase in OPS rejections from May 2020 to May 2021. I would like to ask the team, including Rahul ji, the reasons behind this trend. It is crucial to remember that each rejection impacts our company's image and credibility, as well as financial losses. We must work together to identify the root cause of these rejections and take necessary steps to improve our rejection control. Our ultimate goal is to maintain our reputation as a great place to work, and this cannot be achieved without effectively addressing this issue. Let us continue working towards our goal of becoming the top financial institution in the country..

[Virtual Presenter] In this section, we will discuss rejection control as it is a crucial aspect of our work at L&T Finance. It is important for us to have a thorough understanding of this topic. According to the Certified Great Place To Work, we continuously strive for excellence, making it essential for us to have a clear understanding of rejection control in order to maintain our high standards. On slide number 9, we have the text "RPM Sir, I am also confused, how do I fix this?" This highlights a common concern many of us have regarding rejection control. Through this training, we will address any confusion and provide you with the necessary knowledge and skills to effectively handle rejections. Let's move on to the next slide to further understand rejection control and how we can improve our processes..

[Virtual Presenter] Understanding how to minimize rejection and increase chances of success is crucial for aspiring employees of L&T Finance. Today, on slide number 10 out of 15, we will discuss key checkpoints that will help achieve a zero rejection rate. Always follow company guidelines and protocols to avoid potential rejection. Thoroughly understanding client needs and expectations and working accordingly showcases dedication and improves chances of success. Pay attention to presentation and communication skills to build trust with clients. Conduct thorough research and analysis before taking on any task to ensure quality work and prevent rejection. Seeking feedback from superiors and colleagues can aid in continuous growth and improvement. Maintaining a positive attitude and staying motivated, even in the face of rejection, is important. Embrace failures as opportunities to learn and improve. With these checkpoints in mind, achieving a zero rejection rate and contributing to a great workplace is possible. It takes dedication and hard work to excel in any field, including at L&T Finance. Keep these checkpoints in mind to build a successful and thriving company. Best of luck in your journey with L&T Finance..

[Virtual Presenter] OPS rejections can create significant obstacles in your financial transactions. These rejections are usually caused by not adhering to the bank's document guidelines, as provided by the OPS team. It is crucial to follow these guidelines and submit all required documents to prevent any rejections. In the following slide, we will outline the key steps to avoid OPS rejections and ensure a seamless processing of your transactions..

[Virtual Presenter] In this presentation, we will be discussing rejection control in relation to L&T Finance on slide number twelve. It is important for us to prioritize providing exceptional services to our customers. At times, customers may have concerns or issues with their KIOSK passbooks. One common question that may arise is, "Can I approve this KIOSK passbook?" This is because the bank seal may not be visible on the passbook obtained from the bank KIOSK. Our rejection control process addresses this issue with a dedicated team and efficient procedures in place. We strive to resolve these matters promptly and ensure our customers are satisfied with the service they receive. Let's move on to the next slide..

[Virtual Presenter] At our institution, customer satisfaction and convenience are top priorities. We have streamlined the process for bank passbook approval to make it simple and efficient for you. The first step is to review your passbook and check for any discrepancies in the account details. This ensures that our records match the information on the passbook. After that, you can visit our nearest branch and our friendly staff will verify the details and make any necessary corrections. If you have any corrections to make, you can do so yourself by signing on the designated section and submitting it to our staff for further processing. Once the verification is complete, you will receive your approved passbook on the same day. We strive to make this process hassle-free for our customers. So, next time you have a question about your passbook, trust us to provide a simple and efficient solution. Thank you for choosing L&T Finance for your financial needs. We are committed to providing the best services and making your banking experience a great one..

[Virtual Presenter] On slide 14 of our presentation on "Rejection Control" in L&T Finance, we will discuss the importance of reducing rejections and maintaining a high standard of quality in our sourcing in order to achieve our goal of creating a great workplace and being certified as a great place to work. This will not only benefit our clients, but also contribute to our company's financial stability. Our key strategy is to carefully review each loan application and make necessary changes to reduce rejections and improve the overall approval rate. We understand the importance of timely support for our clients and it is our duty to work efficiently to ensure no customer is unnecessarily rejected. Our ultimate mission is to provide financial assistance to those who are eligible and in need, and by working together, we can make L&T Finance a preferred choice in this field. Thank you for your attention and dedication. This concludes our presentation on "Rejection Control" at L&T Finance..

L&T Finance. THANK YOU. PUBLIC.