Equitas Small Finance Bank Branch Credit Manager Interview Questions and Answers for Freshers

A 13-year legal search report is required in mortgage to ensure the property's legal status and minimize risks.

• A 13-year legal search report provides a comprehensive overview of the property's legal history.

• It helps identify any potential legal issues or encumbrances on the property.

• Lenders require this report to assess the risk associated with the mortgage.

• It ensures that the property has a clear title and is free fro...read more

Leasehold property is leased for a specific period while freehold property is owned indefinitely.

• Leasehold property is leased for a specific period of time, usually decades.

• Freehold property is owned indefinitely by the owner.

• Leasehold property may require payment of ground rent to the freeholder.

• Freehold property does not require payment of ground rent.

• Leasehold property may have restrictions on alterations or use.

• Fre...read more

Suit filed refers to a legal action taken by a plaintiff against a defendant in a court of law.

• It is a formal legal complaint filed by a plaintiff against a defendant.

• It initiates a civil lawsuit and sets the legal process in motion.

• The plaintiff must provide evidence to support their claim.

• The defendant has the opportunity to respond and defend themselves.

• Examples include breach of contract, personal injury, and prope

Penal interest is an additional interest charged by lenders on overdue payments.

• Penal interest is a penalty charged by lenders on overdue payments.

• It is an additional interest rate that is added to the original interest rate.

• The purpose of penal interest is to encourage borrowers to make timely payments.

• Penal interest rates vary depending on the lender and the type of loan.

• For example, credit card companies may charge ...read more

DPD, STD, SMA, LSS are different categories of overdue payments in CIBIL credit report.

• DPD stands for Days Past Due and indicates the number of days a payment is overdue.

• STD means Standard and indicates that the payment is being made on time.

• SMA stands for Special Mention Account and indicates that the payment is overdue for 1-90 days.

• LSS means Loss and indicates that the payment is overdue for more than 180 days and i

Ownership documents are legal papers that prove ownership of a property or asset.

• Ownership documents can include deeds, titles, and certificates of ownership.

• These documents are important for establishing ownership and transferring ownership to another party.

• Examples of ownership documents include a car title, a property deed, and a stock certificate.

• Ownership documents may also include information about any liens or m...read more

Audited financials are verified by an external auditor while unaudited financials are not.

• Audited financials are reviewed and verified by an external auditor while unaudited financials are not.

• Audited financials provide more credibility and assurance to stakeholders while unaudited financials may be viewed as less reliable.

• Audited financials are required for publicly traded companies while privately held companies may ...read more

Yes, I know how to prepare cash flow statements.

• Cash flow statements show the inflow and outflow of cash in a business.

• They are prepared using the indirect or direct method.

• The indirect method starts with net income and adjusts for non-cash items and changes in working capital.

• The direct method lists all cash receipts and payments.

• Cash flow statements are important for assessing a company's liquidity and financial heal