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Hero FinCorp

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20+ Hero FinCorp Interview Questions and Answers

Updated 1 Mar 2025

Q1. Past location agency contacts. How to repossess vehicles. Type of sections used in legal activities. Approach on resolution of bucket collections if alone agency fails to achieve. How to perform audits internal...

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Ans.

Answering questions related to past location agency contacts, vehicle repossession, legal sections, bucket collections resolution, and internal/external audits for Collections Manager position.

  • Past location agency contacts can be maintained through a database or CRM system for easy access.

  • Repossessing vehicles typically involves following legal procedures and working with a towing company.

  • Legal activities may involve sections such as the Fair Debt Collection Practices Act (FD...read more

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Q2. Need a DSA Code?How apply?

Ans.

To apply for a DSA Code, you need to follow a specific process.

  • Contact the relevant authority or organization that issues DSA Codes.

  • Submit the required documents and information, such as identification proof and business details.

  • Complete any necessary training or certification programs.

  • Wait for the approval of your DSA Code application.

  • Once approved, you will receive your DSA Code.

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Hero FinCorp Interview Questions and Answers for Freshers
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Q3. Personality development Command in mail communication

Ans.

Effective mail communication requires a professional tone and clear, concise language.

  • Use a professional tone in all communications

  • Be clear and concise in your messages

  • Avoid using slang or informal language

  • Proofread your emails before sending to check for errors

  • Include a clear subject line and relevant information in the body of the email

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Q4. How can we resolve the issue if a customer does not pay their EMI on time?

Ans.

We can resolve the issue by contacting the customer, offering payment plans, and escalating if necessary.

  • Contact the customer to remind them of the missed payment and inquire about the reason for delay.

  • Offer flexible payment plans or extensions to help the customer catch up on their payments.

  • Escalate the issue to a higher authority or collections agency if the customer continues to default on payments.

  • Maintain clear communication with the customer to find a mutually agreeable...read more

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Q5. How can we address a situation in which a customer has passed away?

Ans.

Addressing the situation of a deceased customer requires sensitivity and empathy.

  • Express condolences to the family of the deceased customer

  • Request for a death certificate or obituary as proof

  • Update customer records to reflect the deceased status

  • Cease all collection efforts and close the account

  • Offer assistance in settling any outstanding debts with the estate

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Q6. How to manage collections agencies

Ans.

Managing collections agencies involves setting clear expectations, monitoring performance, and maintaining open communication.

  • Establish clear guidelines and expectations for collections agencies

  • Regularly monitor the performance of collections agencies

  • Maintain open communication channels with collections agencies

  • Provide feedback and address any issues promptly

  • Ensure compliance with legal and ethical standards

  • Consider implementing technology solutions for efficient collections ...read more

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Q7. How to Achieve Recovery target🎯 I achieve target given company rules.

Ans.

To achieve recovery target, one must set clear goals, prioritize tasks, track progress, and adapt strategies as needed.

  • Set specific and measurable goals for recovery

  • Prioritize tasks based on their impact on recovery

  • Track progress regularly to identify areas for improvement

  • Adapt strategies as needed to overcome obstacles and achieve goals

  • Collaborate with team members and stakeholders to ensure alignment and support

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Q8. Complete Process of operations from file checking to how to give services to the customers

Ans.

The process involves file checking, understanding customer needs, providing solutions, and follow-up.

  • Check files for accuracy and completeness

  • Understand customer needs and requirements

  • Provide solutions and options to customers

  • Follow-up with customers to ensure satisfaction

  • Maintain records and documentation of customer interactions

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Q9. Who is collection head in satna

Ans.

Sorry, I do not have the available data.

  • N/A

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Q10. How can archive incentive and growth

Ans.

To achieve incentive and growth, focus on setting clear goals, providing training and support, fostering a positive work environment, and implementing effective sales strategies.

  • Set clear and achievable goals for the territory manager to incentivize performance.

  • Provide comprehensive training and ongoing support to enhance skills and knowledge.

  • Create a positive work environment that encourages teamwork, collaboration, and motivation.

  • Implement effective sales strategies, such a...read more

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Q11. 5 lakh expection CTC growth

Ans.

I am willing to consider a 5 lakh CTC growth if it aligns with my career goals and the company's growth prospects.

  • I would need to understand the specific details of the growth opportunity, such as the timeline and performance expectations.

  • I would also want to discuss how this growth aligns with my career goals and the company's overall growth strategy.

  • Ultimately, I am open to considering a 5 lakh CTC growth if it is a mutually beneficial opportunity.

  • However, I would need to c...read more

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Q12. what is DSCR and why important while lending

Ans.

DSCR stands for Debt Service Coverage Ratio, it is important while lending to assess the borrower's ability to repay the loan.

  • DSCR is a financial ratio that measures a company's ability to cover its debt obligations with its operating income.

  • A higher DSCR indicates that the company has more income available to meet its debt obligations.

  • Lenders use DSCR to evaluate the risk of lending money to a borrower, as a low DSCR may indicate a higher risk of default.

  • For example, a DSCR ...read more

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Q13. How will you be managed the collection after sale out the product

Ans.

I will manage the collection process by implementing a systematic approach, tracking payments, following up with customers, and escalating issues when necessary.

  • Implementing a systematic approach to track payments and monitor outstanding balances

  • Following up with customers regularly to ensure timely payments

  • Escalating collection issues to higher management or legal department if necessary

  • Offering payment plans or negotiating settlements with customers in financial distress

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Q14. How can you increase our sale

Ans.

By identifying customer needs, building relationships, and offering personalized solutions.

  • Conduct market research to identify customer needs and preferences.

  • Build strong relationships with customers through regular communication and follow-up.

  • Offer personalized solutions that meet the specific needs of each customer.

  • Provide exceptional customer service to ensure customer satisfaction and loyalty.

  • Collaborate with marketing and product development teams to create targeted prom...read more

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Q15. Reducing and flat ret of interest?

Ans.

Reducing and flat rate of interest refers to the interest rate charged on loans or investments.

  • Reducing rate of interest means the interest is calculated on the outstanding principal amount, which reduces with each payment.

  • Flat rate of interest means the interest is calculated on the original principal amount throughout the loan tenure.

  • Reducing rate of interest is more beneficial for borrowers as they end up paying less interest over time.

  • Flat rate of interest is more benefic...read more

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Q16. How do you find out the leverage ratio

Ans.

The leverage ratio can be calculated by dividing the total debt by the total equity.

  • Total debt divided by total equity

  • Can be expressed as a percentage

  • Used to measure a company's financial leverage

  • Higher ratio indicates higher financial risk

  • Lower ratio indicates lower financial risk

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Q17. What are the top line and bottom line

Ans.

Top line refers to a company's revenue while bottom line refers to its net income.

  • Top line is the total revenue generated by a company from its sales.

  • Bottom line is the net income or profit earned by a company after deducting all expenses from its revenue.

  • Top line is important for measuring a company's growth and market share while bottom line is important for measuring its profitability.

  • For example, a company may have a high top line due to increased sales but a low bottom l...read more

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Q18. How would to assess a credit proposal?

Ans.

Assessing a credit proposal involves analyzing the borrower's financial history, creditworthiness, and ability to repay the loan.

  • Review the borrower's credit report and score

  • Analyze the borrower's income and expenses

  • Evaluate the purpose of the loan and the borrower's ability to repay it

  • Consider any collateral or guarantors offered by the borrower

  • Assess the overall risk of the loan and make a recommendation

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Q19. How can improve collection

Ans.

Improving collection can be achieved by implementing efficient data management systems and strategies.

  • Implement automated reminders for overdue payments

  • Offer discounts for early payments to incentivize customers

  • Utilize data analytics to identify trends and target high-risk accounts

  • Streamline the payment process to make it easier for customers to pay

  • Train staff on effective collection techniques and customer communication

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Q20. credit risk and its implications

Ans.

Credit risk refers to the potential loss that a lender may incur due to a borrower's failure to repay a loan or meet contractual obligations.

  • Credit risk is the risk of financial loss resulting from a borrower's failure to repay a loan or meet other financial obligations.

  • It is important for financial institutions to assess and manage credit risk to protect their assets and maintain financial stability.

  • Factors that contribute to credit risk include the borrower's credit history...read more

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Q21. Hero fincrop kolkata office place?

Ans.

Hero Fincrop has an office in Kolkata.

  • Hero Fincrop has a branch office in Kolkata.

  • The office is located in a prime location in the city.

  • The office provides various financial services to customers.

  • The staff at the office is well-trained and customer-friendly.

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Q22. How to handle Dealer & team.

Ans.

Handle dealers and team by establishing clear communication, setting expectations, providing support, and fostering a positive work environment.

  • Establish clear communication channels with dealers and team members.

  • Set clear expectations and goals for dealers and team members.

  • Provide necessary support and resources to help dealers and team members succeed.

  • Foster a positive work environment by promoting teamwork and collaboration.

  • Address any conflicts or issues promptly and prof...read more

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Q23. How to use fifo in store

Ans.

FIFO (First In, First Out) is a method used in store management to ensure that products are sold or used in the order they were received.

  • Organize products based on their arrival date

  • Ensure older products are sold or used before newer ones

  • Helps in reducing waste and spoilage

  • Commonly used in industries like food, retail, and manufacturing

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Q24. How to deal customer

Ans.

To deal with customers effectively, listen actively, empathize, provide solutions, and follow up.

  • Listen actively to understand customer needs and concerns

  • Empathize with the customer's situation and show genuine care

  • Provide personalized solutions that address the customer's specific needs

  • Follow up with the customer to ensure satisfaction and build long-term relationships

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Q25. Availability in the weekends

Ans.

I am available to work on weekends.

  • I have no prior commitments on weekends.

  • I understand the importance of weekend availability in customer service.

  • I am willing to work flexible hours on weekends.

  • I have worked in jobs before that required weekend availability.

  • I am excited to be part of a team that values weekend availability.

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Q26. Current company name

Ans.

I am currently unemployed and seeking new opportunities.

  • Currently not employed

  • Actively seeking new job opportunities

  • Previous experience in sales roles

  • Strong communication and interpersonal skills

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Q27. What is account?

Ans.

An account is a record of financial transactions for a specific asset, liability, equity, revenue, or expense.

  • An account is used to track the financial activity related to a specific category.

  • Accounts are typically organized in a chart of accounts.

  • Each account has a unique number or code for identification.

  • Examples of accounts include cash, accounts receivable, and sales revenue.

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Q28. Describe the biodata ?

Ans.

Biodata is a document containing personal and professional information about an individual.

  • Includes personal details such as name, age, address, contact information

  • Includes educational qualifications, work experience, skills, achievements

  • May also include hobbies, interests, and references

  • Used by employers to evaluate a candidate's suitability for a job

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Q29. Kinds of account

Ans.

There are five main types of accounts in accounting: assets, liabilities, equity, revenue, and expenses.

  • Assets: resources owned by the company (e.g. cash, inventory)

  • Liabilities: obligations owed by the company (e.g. loans, accounts payable)

  • Equity: the owner's claim on the company's assets (e.g. common stock, retained earnings)

  • Revenue: income generated from the company's operations (e.g. sales revenue)

  • Expenses: costs incurred to generate revenue (e.g. salaries, rent)

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