10+ Poonawalla Fincorp Interview Questions and Answers

During equipment breakdown, prioritize safety and minimize downtime. Cost-cutting measures can be implemented by optimizing equipment usage.

• Immediately stop the equipment and isolate it from power sources to prevent further damage or accidents.

• Assess the extent of the damage and determine if it can be repaired on-site or if it requires professional assistance.

• If the equipment needs to be replaced, consider the cost of repair versus replacement and the impact on production.

• To ...read more

The loan life cycle includes processes such as application, approval, disbursement, repayment, and closure.

• Application: Customer submits loan application with required documents.

• Approval: Loan officer reviews application and creditworthiness of customer.

• Disbursement: Loan amount is transferred to customer's account.

• Repayment: Customer makes regular payments towards the loan.

• Closure: Loan is fully repaid and account is closed.

NPA stands for Non-Performing Asset. It refers to a classification for loans or advances that are in default or are in arrears.

• NPA is a term used in the banking sector to categorize loans that are not being repaid as per the agreed terms.

• Banks classify loans as NPA when the borrower fails to make interest or principal payments for a specified period of time.

• NPA adversely affects the profitability and liquidity of banks.

• Examples of NPAs include loans where the borrower has sto...read more

Generating leads and growing business requires a strategic approach and consistent effort.

• Identify target audience and create a marketing plan

• Utilize social media and online advertising

• Attend networking events and conferences

• Offer referral incentives to current clients

• Provide exceptional customer service to retain clients

• Collaborate with other businesses for cross-promotion

Legal process is used to enforce the recovery of debts through court proceedings.

• Legal process involves filing a case in court to recover the debt.

• The court will issue a summons to the debtor to appear in court.

• If the debtor fails to appear, the court may issue a warrant for their arrest.

• If the debtor appears, the court will hear both sides and make a judgment.

• If the judgment is in favor of the creditor, the court may order the debtor to pay the debt.

• If the debtor still fails...read more

NBFCs are financial institutions that provide banking services without meeting the legal definition of a bank.

• NBFCs cannot accept demand deposits like banks

• NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself

• NBFCs focus on specific business areas like lending, investments, etc.

• Banks are regulated by the RBI while NBFCs are regulated by the Companies Act, 2013

• Examples of NBFCs include Bajaj Finance, Muthoot Finance, etc.

Business sources refer to the various channels through which a company acquires goods, services, or information to support its operations.

• Business-to-business (B2B) transactions

• Supplier relationships

• Trade shows and conferences

• Online marketplaces

• Industry publications and reports

No, I will not engage in any under the table transactions as it goes against ethical business practices.

• Under the table transactions are unethical and illegal

• Engaging in such activities can lead to severe consequences including legal action and damage to reputation

• It is important to always conduct business in a transparent and ethical manner

FOIR stands for Fixed Obligation to Income Ratio, a measure used by lenders to assess an individual's ability to repay a loan.

• FOIR is calculated by dividing the total fixed obligations of an individual by their gross monthly income.

• Lenders use FOIR to determine the maximum amount of loan that can be sanctioned to an individual based on their income and existing obligations.

• For example, if an individual has a monthly income of $5,000 and fixed obligations of $1,000, the FOIR w...read more

Loans are financial agreements where a lender gives money to a borrower, who agrees to repay the loan with interest over a set period of time.

• Loans involve borrowing money from a lender

• Borrowers agree to repay the loan amount with interest

• Loans can be used for various purposes such as buying a house, car, or funding education

• There are different types of loans like personal loans, home loans, and car loans

Transparency in salary and compensation is crucial for building trust and ensuring fairness in the workplace.

• Transparency in salary helps employees understand how their pay is determined.

• Clear compensation structures can motivate employees to perform better.

• Open communication about salary can prevent misunderstandings and conflicts.

• Providing detailed information about benefits and bonuses can increase employee satisfaction.

• Regular reviews and updates of compensation policies ...read more

The deliverables included project documentation, data analysis reports, and recommendations for process improvements.

• Project documentation such as requirements documents, use cases, and user stories

• Data analysis reports outlining key findings and insights

• Recommendations for process improvements based on data analysis

• Presentation materials for stakeholders