LendingKart Interview Questions and Answers

Q1. How is collection
Ans. 
Collections involve the process of retrieving outstanding debts from customers or clients efficiently and professionally.
• Establish clear communication: Regularly contact clients via phone or email to remind them of overdue payments.

• Use a systematic approach: Implement a structured follow-up schedule to ensure timely collections.

• Offer flexible payment options: Allow clients to choose payment plans that suit their financ...read more
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Q2. What are the collection rype
Ans. 
Collections can be categorized into various types based on the nature of the debt and collection methods used.
• 1. **Consumer Collections**: Involves collecting debts from individual consumers, such as credit card bills.

• 2. **Commercial Collections**: Focuses on collecting debts from businesses, like unpaid invoices.

• 3. **Medical Collections**: Pertains to collecting unpaid medical bills from patients or insurance companie...read more
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Q3. How is relationship with the costemer in collection
Ans. 
Building strong customer relationships in collections fosters trust, ensuring timely payments and long-term loyalty.
• Empathy is key: Understanding a customer's financial situation can lead to better payment arrangements. For example, offering a payment plan.

• Clear communication: Regular updates and reminders about due payments help keep customers informed and engaged.

• Personalization: Tailoring communication based on cust...read more
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Q4. How management npa costemer
Ans. 
Effective management of non-performing assets (NPA) involves strategic collection efforts and customer engagement.
• Identify early warning signs of potential NPAs, such as missed payments or declining financial health.

• Implement proactive communication strategies, like regular follow-ups and reminders, to encourage timely payments.

• Offer flexible repayment plans or restructuring options to help customers manage their debts...read more
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Q5. Defferent of collection
Ans. 
Collections refer to the systematic process of gathering payments owed by customers or clients.
• Collections can involve various methods such as phone calls, emails, or letters to remind clients of overdue payments.

• For example, a collections executive may follow up with a client who has missed a payment deadline to negotiate a payment plan.

• Effective collections require strong communication skills to maintain positive rel...read more
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Q1. Procedure about Section 138
Ans. 
Section 138 addresses the offense of dishonor of cheques due to insufficient funds or if it exceeds the arrangement.
• A cheque is dishonored due to insufficient funds or exceeds the arrangement.

• The payee must issue a legal notice to the drawer within 30 days of dishonor.

• The drawer has 15 days to make the payment after receiving the notice.

• If payment is not made, the payee can file a complaint in a magistrate's court.

• Exam...read more
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Q2. Arbitration Act Procedure
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Q1. Explain the debugging principles of your current project
Ans. 
Utilize systematic approach to identify, isolate, and resolve issues in the project
• Start by reproducing the issue to understand the root cause

• Use debugging tools like breakpoints, logging, and monitoring to track the issue

• Isolate the problem area by narrowing down the scope of investigation

• Test potential solutions and verify the fix before implementation
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Q1. Design a food delivery app
Ans. 
A food delivery app that connects users with local restaurants for convenient ordering and delivery.
• User-friendly interface for browsing restaurants and menus

• Secure payment options for online transactions

• Real-time order tracking and delivery updates

• Rating and review system for restaurants and delivery drivers
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Q1. Why you want change reason to join company
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It was hackerrank test

They will give the situation accordingly you need to give answers

Q1. Basic introduction and role related questions
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Q1. Technical question about credit
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Q2. Lendingkart related questions
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Q1. Checking thinking ability
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Q1. Difference between BL and PL
Ans. 
BL stands for Business Loan, used for business purposes. PL stands for Personal Loan, used for personal expenses.
• BL is used for business purposes while PL is used for personal expenses

• BL requires documentation related to business while PL requires personal documentation

• BL may have higher loan amounts and longer repayment terms compared to PL

• Examples: BL can be used to expand a business, while PL can be used for home re...read more
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