Deputy Credit Manager Interview Questions and Answers

Assessing the income of a business without any documented incomes

• Analyze the business's expenses and compare them to industry benchmarks

• Review the business's bank statements and cash flow to identify sources of income

• Evaluate the business's assets and investments to estimate potential income

• Consider the business's reputation and customer base to gauge income potential

• Interview the business owner and key personnel to gather information about income sources

Settled in CIBIL refers to a status where a borrower has repaid a loan or credit card in full after defaulting or being delinquent.

• Settled in CIBIL means that the borrower has cleared the outstanding dues on a loan or credit card after being in default or delinquent.

• It indicates that the borrower has resolved the debt by paying the full amount or negotiating a settlement with the lender.

• Settled status is considered negative by lenders as it suggests a history of payment issue...read more

The required documents for a home loan include proof of identity, income, employment, property documents, and bank statements.

• Proof of identity: Valid passport, driver's license, or Aadhaar card.

• Proof of income: Salary slips, income tax returns, or bank statements.

• Proof of employment: Employment letter or appointment letter.

• Property documents: Sale deed, agreement to sell, or property registration documents.

• Bank statements: Statements showing regular income and savings.

Yes, I am aware of the verification process.

• Verification process involves confirming the accuracy and authenticity of information or documents.

• It is commonly used in credit management to assess the creditworthiness of individuals or businesses.

• Verification can include checking employment history, income, references, and other relevant information.

• It helps in minimizing the risk of fraud and ensuring the reliability of credit decisions.

• For example, in the credit approval proce...read more