Impact of customer point verification process for the Credit Risk Management Department under the Consumer Division: a study on IDLC Finance Limited

Abstract

In 1985, IDLC Finance Ltd., a non-banking financial institution, began operations as a leasing finance corporation. With 40 branches and booths, it now offers a variety of services in diverse financial sectors to clients across the nation. It is assisting people in achieving their aspirations of owning a house, a vehicle, beginning and expanding a business, creating more jobs, etc., with the aid of competent, qualified top management and devoted, efficient employees. They provide expert solutions for business, corporate, and consumer security, portfolio management, mutual funds, asset management, and financing. During my internship, I had the chance to work with the Credit Risk Management-Consumer Division, or CRM-CD for brief. In this report, I explained about the customer point verification process of credit risk management after the consumer division brings prospective clients who will be taking house loans, personal loans, or car loans. Customer Point Verification form transmission and receiving reports was my primary duty. A client's loan application cannot be approved or funded without these verifications being completed first. This report will provide a high-level overview of the Credit Risk Department's credit approval process, with a particular emphasis on the credit default aspect. In other words, the report details IDLC's credit approval process and how the company handles credit risk in the event of a default. Based on my internship experience and research, this article provides a SWOT analysis and Porter's Five Forces study of IDLC Finance Ltd. I am certain that my report will provide a comprehensive analysis of IDLC finance limited and the Credit Risk Management-Consumer department. Due to classified concerns, I have been unable to provide as much detail as I would want concerning the inner workings of IDLC Financing Ltd, particularly the Consumer Division.