IIFL Finance Branch Credit Manager Interview Questions and Answers

Basic maths and common science exam

Q1. Inroduce urself
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Q2. What is loan procurement
Ans. 
Loan procurement is the process of obtaining a loan from a financial institution or lender.
• Involves submitting an application for a loan

• Includes providing necessary documentation such as income verification and credit history

• May require meeting certain eligibility criteria set by the lender

• Can involve negotiating loan terms and interest rates

• Examples: applying for a mortgage, car loan, or personal loan
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Q1. What is this CIBIL in customer
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CIBIL is a credit information company that collects and maintains records of individuals' credit behavior.
• CIBIL stands for Credit Information Bureau (India) Limited.

• It provides credit scores and reports to lenders to help them assess the creditworthiness of potential borrowers.

• CIBIL scores range from 300 to 900, with higher scores indicating better creditworthiness.

• Lenders use CIBIL reports to make informed decisions o...read more
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Q2. What is this pramiry kyc and customer
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Primary KYC (Know Your Customer) is the initial process of verifying the identity of a customer before providing financial services.
• Primary KYC involves collecting basic information such as name, address, date of birth, and identification documents.

• It is a mandatory process for financial institutions to prevent money laundering and fraud.

• Customer due diligence is also conducted during primary KYC to assess the risk ass...read more
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