TVS Credit Legal Manager Interview Questions and Answers

AML stands for Anti-Money Laundering. It is a set of laws, regulations, and procedures designed to prevent the generation of income through illegal activities.

• AML is used to prevent money laundering, terrorist financing, and other financial crimes.

• It involves identifying and verifying the identity of customers, monitoring transactions, and reporting suspicious activity.

• AML regulations apply to banks, financial institut...read more

Locker management involves ensuring the security and proper usage of lockers.

• Assign lockers to individuals and keep a record of who has access to which locker

• Regularly inspect lockers to ensure they are in good condition and not being misused

• Implement security measures such as CCTV cameras and access control systems

• Train staff on proper locker usage and security protocols

• Handle lost or forgotten locker keys or combinat...read more

My strengths include leadership, problem-solving, and communication skills.

• I have experience leading teams and delegating tasks effectively.

• I am able to analyze complex problems and come up with practical solutions.

• I am a clear and concise communicator, able to convey ideas and instructions effectively.

• I am adaptable and able to work well under pressure.

• I am highly organized and able to prioritize tasks to meet deadlin

Advance against import refers to a loan provided by a bank to an importer to finance the purchase of goods from a foreign supplier.

• This type of loan is usually secured by the goods being imported.

• The loan amount is typically a percentage of the value of the goods being imported.

• The importer must provide documentation such as purchase orders and invoices to the bank.

• The loan is repaid once the goods are sold or otherwis...read more

KYC stands for Know Your Customer and it is a process of verifying the identity of a customer before providing services.

• KYC is mandatory for all LLPs

• It involves collecting and verifying personal and financial information of the LLP and its partners

• Documents such as PAN card, Aadhaar card, and address proof are required for KYC

• KYC helps prevent fraud and money laundering

BRD and FRD are prepared by gathering requirements from stakeholders and documenting them in a structured format.

• Identify stakeholders and gather requirements through interviews, surveys, and workshops.

• Document requirements in a structured format such as use cases, user stories, or functional requirements.

• Ensure requirements are clear, concise, and measurable.

• Validate requirements with stakeholders to ensure they meet ...read more

UAT is performed by creating test cases based on user requirements and executing them to ensure the system meets user needs.

• Understand user requirements and create test cases accordingly

• Execute test cases and record results

• Report any defects found during testing

• Collaborate with development team to resolve defects

• Repeat testing until all defects are resolved

• Obtain user sign-off on the system before release

NPA stands for Non-Performing Asset, which refers to a loan or advance where interest or principal payment remains overdue for a period of 90 days or more.

• NPA is a term used in banking and finance

• It refers to a loan or advance where interest or principal payment remains overdue for a period of 90 days or more

• NPA is a sign of financial distress for the borrower and a risk for the lender

• Banks and financial institutions h...read more

Collection rules are guidelines and regulations that dictate how a company or organization collects outstanding debts from customers.

• Collection rules outline the steps that must be taken to collect debts, including when and how to contact customers.

• They also specify the consequences of non-payment, such as late fees, interest charges, and legal action.

• Collection rules must comply with local and national laws governing ...read more