Escolar Documentos
Profissional Documentos
Cultura Documentos
Presented by
Javed Hussain Kirti Jindal Karishma Bhandari Garima Dubey Garima Swami Hitesh Rajpurohit Gaurav yadav Hitesh Jeengar
Contents
Defination Durables which are financed Growth of consumer durables Future prospects of consumer finance Consumer finance growth drivers Consumer finance in Rural market About Bajaj Finance Organizational Hierarchy of Bajaj Finance
(Contd..)
Document required for financing Interest rates of finance Basis of Segmenting market Legal Procedure Situation of cases Limit of Finance Process of financing in Bajaj Finance Conclusion
Defination
Consumer finance in the most basic sense of the word refers to any kind of lending to consumers. One of the best ways to get the unsecured loans is through the consumer finance.
FICCI Research
1. 2. 3. 4. 5. ReportAttractive Schemes Phenomenal growth of Media Use of Internet The ability of Imports Reduction in Import duties and Input costs Table of Projected growth in Prodction
Sales were high during festive season. Rural people feel ease in giving installments instead of single down payment. Rural persons found consumer loans useful because consumer durables are used for productive purposes.
RECOVERY OF LOANS
Recovery of loans is the toughest job in rural area. Recovery rates are higher in cooperative banks. Schemes for hardcore defaulters discourages the consumers who pay on time.
Organization Hierarchy
There are four Departments: Sales Operational Credit Collection
2-3 Member
3-5 TL
6-8 Exec.
Documents Required
ID Income Proof Address Proof Interest Rate
For Dealer 0% rate For consumers on Durables 5%-8% rate Maximum 11%
Segmentation of Market
Step 1 Segmenting Market on Basis of Cities Step 2 Grading Cities - A Grade - B Grade - C Grade - D Grade Step 3 Designing Schemes Acc. to to Grades given
Legal Procedure
Reserve Bank of India has told banks that the recovery agents appointed by them cannot re-possess by resorting to illegal means, vehicles or property or any other goods, in case of defaults by borrowers.
Situation of Cases
Previously Till Oct 07 700 to 800 cases per Month
Action Taken Income proof made Essential Now 152 Cases Per month
Limit of Finance
Minimum Limit is of Rs.7000 Maximum Limit is of Rs.500000 Base for deciding limit - Self Employed - 60000 in ITR - Salaried person 5000 per mth
Conclusion
There are many organizations in the world which are providing consumer credit services which are helpful for the financial stability. Financial stability is very important not only for the businesses but also for the consumers. The businesses and as well as the consumers need the stability regarding the financial matters because without the stability no one could be very innovative in the longer run.
Special thanks to
Bajaj Finance Manish Parekh
Sources of Information
- Bajaj Finance - FICCI Report - Internet