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Introduction:

Bajaj Auto Finance Limited which was incorporated on 25th March, 1987 with the main

objective of financing of two-wheelers and three-wheelers manufactured by Bajaj Auto

Limited, with due approvals, has changed its name to Bajaj Finance Limited (rated CRISIL

AA+/FAAA/Stable/CRISIL A1+) with effect from 6th September, 2010 is a subsidiary of

Bajaj Fiserv Ltd, the financial services arm of the Bajaj group. Registered with Reserve Bank

of India (RBI) as a systemically important deposit-taking non-banking finance company.

(NBFC-D-SI), which reflects in its current activities. Over the years, the Company has added

more lending products to its portfolio and is now a diversified consumer and small business

lending company. The company currently offers six lending products including small

business loans, construction equipment finance, mortgages and loan against securities, loans

for two-wheelers and three-wheelers, consumer durables. Bajaj Finance is the largest

financier of two-wheelers and consumer durables in India.

ORGANISATIONAL STRUCTURE OF BAJAJ FINSERV LENDING

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Since Inception

A simple consumer truth about India's license days helped them realize two things. One, that

maybe it's not just two wheelers that consumers hate waiting for, but just about for everything

else as well. Two that just like always in the past, time will be the most precious commodity

that consumers will be willing to pay a premium for, especially if it's got to do with their need

for financing their dreams.

Each of the two realizations they started their journey with, helped shape them as a company

that has carefully invested in understanding processes to cut time for consumers and as a

company that has created the most diversified portfolio of finance products in India.

The company was incorporated as Bajaj Auto Finance Limited on 25 March 1987. In the

same year on 20 October they became a deemed public company u/s 43A (1) of the

Companies Act 1956. On 24 September 1988 they were registered as a Public Limited

Company. On 5 March 1998 they were registered with RBI as a Non-Bank Company. In

1994-95 they had their initial Public issue of Equity shares and were listed on the BSE and

NSE.

2000 - 2010

Human aspirations need means to finance it into reality. There are as many needs as there are

humans.

In the 2000-10 decade the company expanded their expertise to finance dreams beyond Two

& Three wheelers and Durables to Business & Property and a whole host of other Personal

needs.

They crossed Rs.500crore of annual disbursement in 2000. They doubled it within six years

to Rs.1, 000crore.

In line with their fast diversifying finance portfolio it was natural that their name reflects the

expanded sphere of the companys presence in customers' life. They changed name from

Bajaj Auto Finance to Bajaj Finance on 6 September 2010.

2011 - 2012

In order to keep the original spirit and belief alive and kicking, you got to innovate and the

company firmly believed on that.

Innovate products.

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Innovate in Process.

Innovate in delivery.

The company is sensitive to sustainability. Hence, they are careful about growing soundly

and place a lot of emphasis therefore on governance. Bajaj Finance Ltd is one of the few

NBFCs in the country to be awarded a rating of FAAA/Stable for fixed deposits, indicating a

very strong degree of safety with regard to timely payment of interest and principal on the

instrument by the Credit Rating and Information Services India Limited (CRISIL). In

addition to this, they are also rated high (P1+ rating) for Short-Term Debt Programme and

AA+/Stable for Long-Term Debt Programme by CRISIL and LAA+ for Long-Term Debt

Programme by ICRA.

The BFL Way

Today the company has a network of over 81 branch offices throughout the country to

finance a growing set of needs of ever more impatient customers.

Their approach to consumers, market and industry is unique. In 25 years of history there's

nothing that they've 'copied' and 'pasted'. Be it products or processes, there's an innovation

you'll come across every now and then.

From technology to processes and from hardware to software their partnerships are their

innovation engines. The company partners with the best and only the best in the world.

PRODUCT

EXECUTIVE SUMMARY OF BAJAJ FINSERV:

26 year old non bank with a demonstrated track record of profitability.

Focused on Consumer, SME & Commercial lines of businesses.

Strategic business unit organization design supported by horizontal common utility support

functions to drive domain expertise, scalability and operating leverage.

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Strategy is to focus on cross sell, customer experience and product & process innovations to

create a differentiated & profitable business model.

The company has `24,061 Crores of Asset under management with a net NPA of 0.28% and

a capital adequacy of 19.13% as at March 2014. The company in FY14 has delivered a full

year pre tax profit of `1,091 Crores & a post-tax profit of 7,19 Crores at a ROA of 3.6%. The

company in Q4 FY14 has delivered a pre tax profit of `277 Crores and a post-tax profit of

`182 crores at a ROA 1 of 0.8%.

EXECUTIVE SUMMARY OF SME BUSINESS:

Focused on high net worth SMEs with an average annual sale of ` 25 Crores with established

financials & demonstrated borrowing track records.

Offer a range of working capital & growth capital products. 84% of the business is secured

by mortgages & marketable securities.

Offer full range of mortgage products (LAP, LRD & HL) to salaried, SME & self employed

professionals.

A dedicated SME Relationship Management channel created to provide wide range of cross

sell products to our SME franchise.

.

SMALL BUSINESS LOANS

FY14: Rs 23.4K Crores

LOAN AGAINST PROPERTY

FY14: Rs 29.5k Crores

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ASSET SEGMENT AND BRIEF DESCRIPTION

1. MORTGAGE LOAN-

75 per cent of mortgage portfolio comprises large ticket-size loans against

Properties to business community and self-employed professionals.

25 percent comprise home loans, predominantly disbursed to self employed segment,

and recently started offering home loans to salaried segment.

3. PERSONAL AND SMALL BUSINESS LOANS-

40 percent of personal and small business loan portfolio comprises low ticket size,

short duration unsecured small business loans offered to business community and

self-employed professionals

40 percent comprise personal loans, cross sales offered to Bajaj finance existing

customers demonstrating good repayment track record on their consumer durable

loans.

20 percent comprise personal loan offered to salaried individuals

BUSINESS PRODUCT LAUNCH JOURNEY

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SOURCING CHANNELS

2. Common underwriting process across segments.

The sales team collects bank statements and financial details of applicants along with

basic KYC documents, the sales team then forwards these to local credit and

underwriting team

Multiple verifications undertaken, credit approval memo generated based on

financials

MORTGAGE LOANS

SMALL BUSINESS LOANS

CONSTRUCTION EQUIPMENT LOANS

INFRASTRUCTURE FINANCE

LOANS AGAINST SECURITIES

DIRECT SALES AGENT

INDIVIDUAL AND AGENCIES

DIRECT SOURCING

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Personal interviews conducted by credit manager

Credit appraisal process is system driven and automated with defined approval limits

and deviation matrix

WHAT MAKES BAJAJ FINSERV DIFFERENT FROM OTHERS

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Objectives of the project:

To improve existing sales process from Tele calling to file disbursement.

To reduce cancellation and rebooking.

To increase the productivity of PSF (Personal Sales Force).

Methodology of study:

Data Collection

The primary data has been collected through structured questionnaire on Convenience

sampling and the primary data was collected from 26 respondents who belong to different

educational, experience from the study area. The secondary data has been collected from

different sources as follows:

a) Various views were taken from the PSFs, ASMs and the senior managers to get some

details on the process flow from Telecalling to login.

b) CPA(Credit Processing agency) Visit: Visited CPA many times to get the details of

various cases of cross sell department from the login to post disbursement, that what

is the process flow CPA follows.

c) Learning from PSBL/LAP/HL cases

d) Meeting with vendors

Sample unit Delhi, Mumbai, Indore, Surat, Ahmedabad.

Sample size - Sample sizes of 26 PSFs were taken.

Sampling Technique - Convenience sampling technique was used in this research project

Questionnaire A questionnaire was designed for PSFs which also includes some open

ended questions. Questionnaire was prepared in Google Doc and was mailed to all the PSFs

or the concerned ASMs to get it filled. Some questionnaires are filled through calling and

hardcopy.

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Data Processing - Data was entered into excel and then analysed by using simple techniques

of graphical and tabulation

SME -Cross Sell

In cross sell department we cater to those customers who are already a part of Bajaj Finserv

family.

How we get to know about our customer?

Bajaj Finserv is a smart company in using technology we have our strong database of

customer which is managed by Salesforce.com. Here at sales force.com we store the

information of our customer for building relationship as well for bringing business through

them.

What is salesforce.com?

It is customer relationship management software. For sale manager CRM cloud apps provide

real time visibility into their team activities so they can forecast sale with confidence and at

the same they easily manage customer information so that sales team spend less time

handling data and more time with customers and other hand it helps in lead generation.

Why Cross-selling is so important and how your Loan Origination System

can help?

Cross-selling is one of the biggest names in the profitability game in financial institutions

today, and a loan origination system can help tremendously. An LOS (Loan Origination

System) can utilize all of the information youve just captured for a new loan request to offer

the perfect additional loans or accounts right at the time that the customer is engaged with

you. And just as your new customer is happy to have been approved and has accepted their

new loan, you can offer them other pre-approved products to expand the relationship. And

also keep in mind that cross-selling allows you to:

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Create a long-term sticky relationship by serving your customers or members

with multiple products. Theres a saying that goes, If you dont ask, the answer is

always no. So, ask your customers what they need through cross-selling, and

improve your companys chances of your customers leaving with more than just a

single product. Use cross-selling to achieve your institutions goal of handling all of

your customers financial needs.

Maximize interactions with customers. Even in the age of Internet banking and

multiple ATMs on every corner, customers still value face-to-face interactions with

their financial institutions, and so too should you value that time. In addition to using

these interactions as an opportunity to showcase your customer service, use cross-

selling to take advantage of each sales opportunity.

Provide the expertise the customer is looking for. Every sales opportunity that

cross-selling presents to you is also an opportunity for you to find the right product to

suit the customers unique needs. Just be sure to avoid a one-product-fits-all

mentality. Instead, use what you know about them from their application and their

credit file to offer the right products at the right time at the right price to maximize the

changes they will accept and even make them grateful for such a great offer. As an

example, you could capture their primary account business by cross-selling a

checking account on a loan product and offering a discounted rate on the loan when

they accept the checking account offer.

Types of Loans offered by Cross Sell:

CD(consumer durables) to HL(Home Loan)

CD to LAP(loan against property)

CD to PSBL(business loans)

CD dealer funding/LAP funding (13%)/PSBL (18%)

PSBL to LAP/HL

Doctors Loan

Salaried

Loan against Shares

A/A+ customers Pre approved offer line.

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Personal Loan Cross Sell

Through this business, we offer existing customers with good repayment history various pre-

approved personal loan offers. While maintaining focus on the balance between business

growth and the risk-reward equation, deployments under this category grew by 53% to Rs.

586 crore. The company financed over 86,000 new customers in the current year.

What is the organisational structure of cross sell department?

CEO

BUSINESS HEAD

ZONAL SALES MANAGER

WEST/CENTRAL NORTH/EAST SOUTH

REGIONAL SALES MANAGERS(LOCATIONWISE)

AREA SALES MANAGERS(LOCATIONWISE)

PSFs

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Data Types:

CIBIL Leads

Call Centre Leads

Propensity Leads

What is the sales process flow of cross-selling department?

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CPA PROCESS STAGE

1. Salesperson- It is the first stage of the process .Since salesperson is the first line of

interaction they meet customer and bring their loan application file TO sales coordinator.

2.Salescoordinator He is bridge between CPA and salesperson his job is go to through

each and every file and make sure that none of the information is missing . If he finds any

information which is missing and anything which has not been duly mentioned he sends it

back to the salesperson and on other hand if he finds out that application form contains

required information he sends it to the CPA (CREDIT PROCESS AGENCY) for further

verification.

3. CPA- The third and most important stage. The role of CPA is to unearth all the

information related to customer. Their job is to dig into customer basic details like

a) Financial details e.g. salary, previous loan etc

b) Legal details

c) Tracking of previous loan status.

d) Credit scores

After going through all these details they send it to the vendor for further verification

4. Vendors

There are two types of vendor in the company right now one is Valuator and other is Lawyer

The job of valuator is to provide advisory services related to valuation of loan and on the

other hand the job of lawyer is providing legal assistance to the company regarding issuance

of loan.

5. CPA team leader - After the vendor is over with their job the file once again land on the

desk of CPA team for going through further verification. The job of CPA team leader is

disperse the file to the concerned credit manager .Apart from that CPA team leader also put

the file on salesforce.com.Salesforce.com is a global cloud computing firm based in USA

once the data of file make it to the platform of this site concerned customer, DSA (Direct

sales associates) as well as PSF (PERSONAL SALES FORCE) can track the status of loan.

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6. Credit Manager The sixth stage of process .CPA team leader send the file to the

concerned credit manager for taking further decision regarding loans and its approval. Credit

manager is responsible for verifying all the aspect and attributes which plays important role

in approval stage. The job of credit manager is to assess the credit worthiness of the customer

base. It includes proper management of credit criteria which the customer must full fill before

getting go ahead from the higher authority.

There are separate team of credit manager who work for their respective loan department.

These are

1. Salaried Loan

2. Home loan

3. PSBL

4. Mortgage

5. Loan against properties

In case they find any information is incorrect or missing they contact and discuss the issue

with salesperson and then with customer .Once they are done with their doubt and

verification they send the file to RCM ,ZCM and other manager up in hierarchy .

Here in this stage loan application is approved.

7. Tata consultancy services- After they are done with their in house process they send the

file to TCS to steer the process to next level. They check the whole customer data and make

sure that everything is in right place. In case they find that something is missing they send it

back to the CPA for clarification and correction.

Once they are done with their doubt they release the batch id to HDFC bank to release the

payment.

8. Payment Stage- At this stage for general customer CPA hand over the cash cheque to

salesperson while for bank and property they steer the payment through lawyers.

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PROCESS FLOW-

Division of Tele calling to post disbursement in 4 stages:

SALES FORCE

SALES COORDINATOR

CPA

VENDORS

CPA TEAM LEADER

CREDIT MANAGER

RCM, ZCM AND

OTHER MANGER

UP IN

HEIRARCHY

TCS HDFC BANK

BATCH ID

CPA

CUSTOMER

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1. Steps involved in Tele calling to Login:

a) Lead generation and calling

b) PSF visit to customer to discuss the loan terms and product offerings.

c) Get documents from customer

d) File complete at sales end

e) Submit at CPA

If pendencys: Mail is dropped to SM and then PSF visits customer to get

pending documents

If no pendencys: File login

f) Login

2. Steps involved from Login to Sanctioned:

a) Files are checked on policy parameters and documentation.

b) Completed files are accepted on the SFDC and processed.

c) CAM report generated.

Technical and legal verification initiation TVR with references is done.

d) CIBIL generated from system

e) ACM queue

f) Personal Discussion-Appointment from the customer is taken for PD and

accordingly visit to his office is made. During the visit details are confirmed and

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pendencys if any, are collected from customer and customer is requested to

acknowledge an email from his official email id.

ACM checks the eligibility and policy parameters and if case is meeting

policy parameters then decides to do a Physical/ Tele PD

If case is not meeting policy parameters then rejected.

g) Post PD ACM queue:

ACM analyse the facts discussed during PD vis-a-vis to verification

reports, CIBIL and financial.

All the deviations, email confirmation, verification reports, Tele

verification report are attached in SFDC and case is approved or escalated

to the appropriate authority for approval

h) Loan Sanctioned.

3. Sanctioned to Disbursement:

a) Property verification(legal or not)

b) Search report is prepared

c) Approval conditions & T&C is communicated to customer

If customer decline the offer (updation of SFDC with correct reject reason

and code).

If customer agrees and signs the loan kit, ECS or PDCs

d) File along with cleared subjective condition (if any) and kit is given to sales

coordinator for completion.

e) Approval for rate, PF or change in loan structure (if required) is taken from the

respective authority.

f) File is prepared in complete and all the pendencys, subjective conditions, kit and

approvals are placed by sales coordinator.

g) Complete files are handed over to branch Ops team for checking.

h) Docet send to PUNE(HO)

4. Post Disbursement:

a) Cheque generation & reached at CPA

b) Property visit (RESIFI) done by credit team.

c) OTC completion.

d) Cheque delivered to customer.

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Stage 1

Telecalling LOGIN APPROVAL

Current process (if pendency):

Current process (if no pendency):

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Our process:

1. Calling & Customer Meeting: In this stage PSFs get the data of Bajajs

existing customers from mortgage loans, PSBLs, CIBIL leads, Propensity leads and

call the customers for their requirement of loan and if required they fix a meeting with

Step 1

Calling customer

&

fix meeting

Step 2

Meeting Customer

Using Mobility, login

could be done on the same

day within an hour and

approval mail should be

sent to PSF & customer

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them and tell them about the products and features/benefits(ROI,PF,EMI bounce

charges, Foreclosure charges, Insurance) of that product.

2. Customer meeting: In this stage PSFs meet the customer and if customer is

convinced with the PSF then PSF should spend time with the customer and collect the

required documents on the same day instead of fixing a meeting on some other day.

3. Login: For login a file on the same day we can adopt MOBILITY while login

a) Mobility: Here after receiving the documents from the customer the file should be

login within an hour using mobile app in which all the documents to be submitted

by PSF and documents to be received at the other end i.e. CPA

b) After receiving the file, there should be an Automatic Mail Generation System

(AMGS) in which CPA acceptance should be sent automatically to customers as

well as PSFs and sales managers.

In case if there are any pendencys (pending documents), the PSFs and the

concerned customer will get a mail from AMGS and the concerned customer as

well as PSF have to revert back within a given time period(not more than 24

hours).

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Stage2

Current Login to Sanctioned Process:

Stage 3

Sanctioned to Disbursement:

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Stage 4

Disbursement to cheque delivered to customer (Current

process):

Disbursement to cheque delivered to customer (our

process):

During cheque generation time

Property visit (RESIFI) should be

done between this time and OTC

process should also start at this

time.

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Cancel & Rebooking (Reasons):

The case should be cancelled if the property papers(RESIFI) are not legal or

unauthorized

If the OTC papers are not completed.

Sometimes customer also cancels the case due to the late delivery of cheque.

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COMPLETE PROCESS

FLOW DIAGRAM

FROM

TELE CALLING

TO

POST DISBURSEMENT

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1

2

4 3

5

6

12 13

7 8 9 10

11

16

14

15

17

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Calling a customer fix meeting with customer

as soon as possible

Spend time with customer collect all the data required for Log-in

Scan the whole document using cam scan and send it to CPA through Moblity apps., make a

account of customer on company website where he can upload scanned copy of all the document

At CPA sales co-ordinator will get the printout of all document will send one to avaiiable credit

manager and one copy he will keep with him to see if their any thing missing.

Credit Manager for verfication to check if

the file is apt for getting approval.

Inform the customer and psf through automated generated mail about

pendencies if any.

Once every document is clear confirm and verified at the sales co-ordinator end send it

to it for Log-in

Central Server System

CNS willautosync the

data for De-Dupe

will send it to the salesco-ordinator for

CAM preparation

Send it technical and legal valuation Team

Send one copy to ACM and sales team for doing personal discussion

After getting Approval from both technical team,legal team ,PD feedback it will send all the

file to RCM for sanction of Loan once RCM is done with verfication it will feed the data in Central

Server System .

Disbursment Support team(A)

1.Property Verfication and visits.

2.Search Report is prepared3. All the terms and

condition will be communicated to customer

through mail and Tele-calling.

after getting complete file from team B ,Team A will send instruction as well as

all documents to TCS team.

Disbursment Support Team(B)

1.Files will given to sales co-ordinator for checkng

Pendencies2.Personal Discusion ROI,PF change in Loan Structure will

be done here.3. Sales co-ordinator will part of team B after taking inputs

from both side he will complete the application

Dispatch Team A1. It will dispatch the file to TCS for

further verfication2.will mark Dispacth on SFDC so that Data can sail through SFDC to finone

TCS will generate batchid will send

information to central server system for

starting OTC process.

Cheque will be generated by HDFC bank before that we will

communicate customer to verify favouring and payment mode details this step will help us in cutting down cancellation and

rebooking .

After OTC is complete Dispatch Team B will

receive instruction for release of cheque.

CUSTOMER RECIEVES CHEQUE

NOTES1.PROCESS 3 AND 4 WILL GO

TOGETHER.2.7,8,9,10 WILL GO TOGETHER

I have divided the sales-coordinator part of process in two stages equally so

that two team at the same time can concentrate on two different

processes. This way we can reduce wait time.

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Stage 1:

Sales representative will fix a meeting with customer will meet and will understand what is

his /her needs and which product is suits their demand and need after this sales

representative will inform customer about all the documents which are required for getting

loan approval

Stage 2

Sales representative will fix an appointment with customer to collect all the documents as

well as for completing all the formalities which is required for getting loan in this stage sales

representative will fill the application form at the customer end and will collect all documents

in this stage itself he will scan all the documents and will send it to the CPA through mobile

app.

Stage 3

At CPA sales coordinator will make two copies of whole file one for himself other for credit

manager. Sales coordinator will check for discrepancy as well as pendency if he finds

anything is missing he will generate an email through AMGS (Automated Mail Generation

System) to inform both PSFs/ASM and customer.

Stage 4

Here credit manager will check the whole documents to verify the financial eligibility of

customer for getting loan. In case CM finds that customer is not eligible for getting loan he

will reject the case straightway without any further delay.

NOTE (Stage 3 and 4 will be parallel in nature, process will go together)

Stage 5

Once the case is approved by CM it will go for final log-in.in SFDC.

Stage 6

SFDC will send the whole information to central server system which will be based on client-

server Model for synchronisation of datas.

Stage 7

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The server system will send the file for De-Dupe verification .The file status will be updated

on central server system.

Stage 8

Will send it to sales co-ordinator for CAM preparation once the CAM is prepared the sales

co-ordinator will update it on Central server system.

Stage 9

Send one copy for technical and other copy for valuation. Once the verification is over the

vendor will make a report and will submit it to Central server system.

Stage 10

Will send one copy to ACM and sales team for doing PD verification. Once the verification is

done they will submit for a report of PD in Central server system.

Note (stage 7, 8,9,10 will go together in process)

Stage 11

It is a very important stage after getting approval from all vendors the central server system

passes on the file to regional credit manager for his approval once he is done with file he

approves it makes a report and update the status on central server system.

After this process sales co-ordinator through central server system will co-ordinate next

process into two stages by forming two teams at two different work station

Disbursement Team A at workstation 1 and Team B at workstation B.

Stage 12

From Central server system file will reach to disbursement Team A which is functioning

from workstation1 the job of the team will be as follows

1. Property Verification and visits.

2. Search Report is prepared

3. All the terms and condition will be communicated to customer through mail and Tele-

calling

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After getting complete file from team B it will send it to TCS.

Stage 13

While disbursement Team B will steer the following activities.

1. Files will given to disbursement co-ordinator for checking Pungencies

2. Personal Discussion ROI, PF change in Loan Structure will be done here.

3. Disbursement co-ordinator will part of team B after taking inputs from both sides he will

complete the application.

After file is complete it will upload updated file in Central Server System from where it will

be send to Dispatch team A.

Note (stage 12 and 13 will go together)

Stage 14

File will reach to Dispatch Team A which will be based at workstation 3.

1. It will dispatch the file to TCS for further verification

2. Will mark dispatch on SFDC so that data can sail through SFDC to Finone.

Stage 15

TCS will generate batch id will send information to central server system for starting OTC

process.

Stage 16

Cheque will be generated by HDFC bank before that customer will be communicated through

sales team to verify favouring and payment mode details. This step will help us in cutting

down cancellation and rebooking.

Stage 17

After OTC is complete Dispatch Team B (which will be based at workstation 4) will receive

instruction for release of cheque.

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Stage 18

Customer receives the cheque.

Central server system:

Since we are suggesting the central server system for speedy loan approval. Central server

system will be centralised client server model in this model through computers at every

workstation will be connected to central server system. The clientserver model of

computing is a distributed application structure that partitions tasks or workloads between the

providers of a resource or service, called servers, and service requesters,

called clients.[1] Often clients and servers communicate over a computer network on separate

hardware, but both client and server may reside in the same system. A server host runs one or

more server programs which share their resources with clients. A client does not share any of

its resources, but requests a server's content or service function. Clients therefore initiate

communication sessions with servers which await incoming requests.

Each server listed above acts as a client when it submits data in a request to another server for

processing. In each step of this sequence of clientserver message exchanges, a computer

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processes a request and returns data. This is the request-response messaging pattern. When all the

requests are met, the sequence is complete and the web browser presents the data to the customer.

Limitations

One limitation that system has that in case of crash, all data or information can be lost so to avoid

those we are proposing a redundant server that will be connected to only main server which will

create backup of every file so that any data or information could not lost at the time of crisis.

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Survey Questionnaire Analysis

What is your total work experience?

0-1 2 8%

1-2 1 4%

2-4 6 23%

More than 4 17 65%

Interpretation: From the above data it is interpreted that most of the PSFs have more than 4

years of experience and this shows that PSFs have much experience to work.

For how long you are working with Bajaj Finserv?

0-3 months 3 12%

3-6 months 12 46%

6-12 months 8 31%

1-3 years 3 12%

More than 3 years 0 0%

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Interpretation: From the above data it is interpreted that most of the PSFs (46%) working

with BAJAJ are working from 3-6 months and 31% of the PSFs are working from 6-12

months.

What is your branch location?

Mumbai Indore, New Delhi, Rajkot, Pune, Surat

What are your sourcing methods of data collection?

DSA 4 7%

Tele calling 6 11%

Reference from CA 4 7%

Estate broker 1 2%

Reference from customer 8 14%

Cold calls 6 11%

Reference from other verticals 4 7%

Internal channel leads 21 37%

Other 3 5%

Interpretation: From the above data it is interpreted that the 37% PSFs use Internal Channel

Leads as method of data collection and Telecalling, Reference from customers and Cold calls

all form 11,14 and 11% respectively for data collection.

CIBIL [Rate the methods according to you]

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5 7 27%

4 4 15%

3 4 15%

2 10 38%

1 1 4%

Interpretation:. 27% PSFs rated CIBIL as most efficient and effective methods of data

collection and 38% PSFs rated as less effective and efficient method, hence the CIBIL leads

should be made most effective

PSBL [Rate the methods according to you]

5 6 23%

4 3 12%

3 13 50%

2 4 15%

1 0 0%

Interpretation:. 50% PSFs rated PSBL as neutral, methods of data collection and 23% PSFs

rated as most effective and efficient method

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Mortgage loans [Rate the methods according to you]

5 3 12%

4 4 16%

3 13 52%

2 5 20%

1 0 0%

Interpretation:. 52% PSFs rated Mortgage loans as neutral methods of data collection, hence

an mortgage leads can be improved and can be made as most effective and efficient.

Propensity Leads [Rate the methods according to you]

5 3 12%

4 3 12%

35

3 8 31%

2 10 38%

1 2 8%

Interpretation: Majority of the PSFs rated propensity leads as neutral or less effective and

efficient method.

CD leads [Rate the methods according to you]

5 1 4%

4 2 8%

3 3 12%

2 11 42%

1 9 35%

Interpretation: Majority of the PSFs rated CD leads as least effective and efficient method.

SO a big improvement is needed in CD leads to make it as more effective. As discussed with

the PSFs conversion rate for CD leads is 5% which is very less so a more filtration is required

in this process.

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How many days do you take on an average to process a file?

0-5 days 17 65%

5-10 days 8 31%

10-30 days 1 4%

More than 1 month 0 0%

Other 0 0%

Interpretation: To process a file from the first call to login, 65% PSFs responded that it will

take 0-5 days and 31% marked it as 5-10 days which is very big so to reduce this a mobile

app is recommended to upload all the documents on the server.

How many days do you take on an average to disburse a file?

0-3 days 0 0%

3-6 days 5 19%

6-10 days 10 38%

10-20 days 9 35%

More than 20 days 2 8%

Other 0 0%

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Interpretation: To disburse a file from the 38% PSFs responded that it will take 6-10 days

and 35% marked it as 10-20 days which is very large so to reduce a server system is

recommended through which most of the processes run parallel.

What kind of problems you face while interacting with customers?

Rate of interest of competitors 20 27%

Processing fee of competitors 18 24%

Brand value 1 1%

Communication skills 8 11%

Closure 1 1%

Product information 7 9%

Rigidity on insurance 12 16%

Negotiation 5 7%

Other 3 4%

Interpretation: Most of the PSFs are facing problems in ROI & PF of competitors and 16%

are facing Insurance problems.

What kind of facilitation would you require from the company to solve your

problems?

Soft skills training 17 30%

Grooming sessions 12 21%

Eligibility calculations 3 5%

Negotiation skills 9 16%

Analysis of financials 11 20%

Other 4 7%

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Interpretation: The facilitation PSFs required as per are soft skills training, grooming

sessions, Negotiation skills and Analysis of financials

Customer past experience with company and its service. [To what extent the

following factors influence your performance, rate accordingly.]

5 14 54%

4 8 31%

3 3 12%

2 1 4%

1 0 0%

Interpretation: PSFs rated 54% as more beneficial if there is some kind of past experience

of the customer with the company.

Products features and benefits [To what extent the following factors influence

your performance, rate accordingly.]

39

5 12 46%

4 12 46%

3 1 4%

2 1 4%

1 0 0%

Interpretation: PSFs rated companys products features and benefits as beneficial for them,

means they are satisfied with the companys products features and benefits

Loan approval process [To what extent the following factors influence your

performance, rate accordingly.]

5 7 27%

4 12 46%

3 4 15%

2 3 12%

1 0 0%

Interpretation: Most of the PSFs rated good and beneficial to them the Loan Approval

process of the company.

Sales target set by the company [To what extent the following factors

influence your performance, rate accordingly.]

40

5 1 4%

4 20 77%

3 4 15%

2 1 4%

1 0 0%

Interpretation: PSFs rated 77% as sales target set by the company, through which they are

satisfied with them.

Training and induction programme [To what extent the following factors

influence your performance, rate accordingly.]

5 5 19%

4 18 69%

3 2 8%

2 1 4%

1 0 0%

41

Interpretation: The training and induction programme is beneficial and is effective for most

of the PSFs. Only 10% of the PSFs are not satisfied with this.

Gender?

Male 26 100%

Female 0 0%

Interpretation: All the PSFs are male in our survey, there is no female PSF working in.

Age?

20-25 0 0%

25-30 16 62%

30-35 8 31%

More than 35 2 8%

Interpretation: Most of the PSFs belong to the age group of 25-30 years.

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Qualification?

Higher secondary 0 0%

Graduation 18 69%

Post-Graduation 7 27%

Other 1 4%

Interpretation: Almost all the PSFs are well qualified according to our survey.

What are the two things competitors do better than us?

HDFC loan processing is good

Better ROI, PF

GEO LIMITS (Business Expansion)

Base rate primary lending rate approval ratio fast approval like India Bulls,

Good brand value of HDFC, ICICI so banking advantage

Specify top 2 reasons where a cold call doesn't mature to closure.

Profile of customer

Repeated calls, data validation is required.

ID cards are of BAJAJ Allianz, which makes PSFs suffer from lack of trust.

It becomes a surprise and many a times customer is not prepare to discuss the needs in

Surat most of time we go for five years old data but in Surat business men after every

five years so in this case demanding 5 years data create a problem

Customer is rigid over a lot of documents

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Most of the CIBIL leads have already availed loan facilities so they are not willing to

go for any negotiations.

Customer is not interested in product low LTV ratio for lap customer is not prepared

to handle the call customer is not interested

Sometimes a lot of issues crop up ranging from ROI to insurance

What are the 2 big challenges you face in sourcing customers?

Data is not enough

Visiting card

Data is not enough

Data should be more accurate

CIBIL data validation lead issues some CIBIL leads are not accurate

Datas are repeated

ROI HL advertise should be there.

CD and Propensity leads are not enough to pitch the customer various issues like

CIBIL profile existing loan from us cut throat competition in Mumbai among finance

companies rate and PF most disadvantage is limitation of DATA point & moreover

validation of existing Database Policy wise we don't have Low LTV and LIP

program.

Many profile in local level in negative data base

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Conclusions

Adopting the sales process with the central server system & mobile app

will improve the disbursement time.

Cancelled & rebooking cases will also be decreased.

All the PSFs are well qualified to work on mobile app.

Training of soft skills, negotiation skills should be given to PSFs.

As CIBIL leads and PSBL leads are more helpful to PSFs, so the data

should be more accurate.

Id Cards given to PSFs should be of BFL, as it helps to build more trust

among customers.

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Recommendations

- PSFs Efficiency

As 38% PSFs in our survey rated CIBIL leads as 2 which is less effective and efficient,

PSBL and Mortgage leads are rated as 3 and most of the propensity leads rated as 2 and

3, so in these leads there can be improvement if on every lead comprehensive feedback is

to be taken by RSMs, ZSMs on daily basis.

As the views taken by the PSFs and our survey conversion rate is very less, so if a

training based on objection handling (as in survey questionnaire PSFs asked for training

on negotiation skills) is given to PSFs will help

To start a conversation with the customers.

To understand what customer requires.

To understand the obligations

To know the profile of the customer

As 10% of the PSFs are facing problems with Product information and 16% facing

insurance problems so to have efficient skills Product/Policy training should be given to

PSFs by RCM/RSM/ZSM/Collateral managers on monthly or quarterly basis.

Buddy Training:

A buddy programme seeks to develop one mentally and professionally. In buddy training

new PSF will receive training from those who are senior to them in them in the system

that will help him understanding the company culture as well as functioning.

For every PSFs a sales handbook should be there to have better understanding which

includes

Products info

Documents checklist

Some tips on objection handling

Competitors info

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- Cancelled and Rebooking

As most of the cases are cancelled due to:

OTC not completed

Original property papers not there

Delay in cheque

So to overcome these problems a few recommendations are as

1. Futuristic OTC/Deferral should not be taken: Key legal and technical documents

which customer promised to give later should be taken before.

2. In LAP cases original property documents should be taken before disbursement

which if not provided at the time leads to cancellation.

3. Sanctioned letter should be done prior to deal booking so that if customer is

cancelling its case due to rate approvals will be cleared at this point of time.

4. For BT cases- LOD, Foreclosure letter should be taken prior to disbursement.

.

Some more recommendations for better efficiency

We collect MOF through cheque, so we recommend in MOF cheques NEFT to be

promoted, so offering one more option will leads to customer convenience.

CIBIL is done post complete file login at CPA, so CIBIL should be done before login

as it will eliminate CIBIL reject cases and it will increase the efficiency as it will

avoid collection of all the documents in such cases.

For pricing/fees approval different mail approvals are taken and attached in file before

dispatch so there could be one common format and approvals should be taken on that

format as it will help in better handling of documents as well as for customer

convenience.

RTGS payments are released post OTC is received at OPS, so RTGS should be

allowed basis confirmation from branch ACM for receipt of OTC, ACM to mark OTC

on system as per new project as it will improve TAT for payment release.

47

References/Bibliography

http://www.bajajfinservlending.in/investors-presentations.aspx [Accessed: 2014, May 17]

http://www.bajajfinservlending.in/loan-against-property.aspx [Accessed: 2014, May 05]

www.bajajfinservlending.in/.../CRISIL-Issuer-Profile-Bajaj-Finance-Ltd. [Accessed: 2014,

April 30]

www.nseindia.com/content/corporate/eq_BAJFINANCE_base.pdf

en.wikipedia.org/wiki/Bajaj Group [Accessed: 2014, April 28]

en.wikipedia.org/wiki/Clientserver model [Accessed: 2014, May 09]

www.unm.edu/~network/presentations/course/appendix/.../tsld043.htm

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APPENDIX

Questionnaire

1. What is your total work experience?

a) 0-1 year

b) 1-2 years

c) 2-4 years

d) More than 4 years

2. For how long you are working with Bajaj Finserv?

a) 0-3 months

b) 3-6 months

c) 6-12 months

d) 1-3 years

e) More than 3 years

3. In which branch you are working?

.....................................................

Exploratory variables

1. What are your sourcing methods of data collection? (Tick all of them you use)

a) DSA

b) Tele calling

c) Reference from CA

d) Estate Broker

e) Reference from customer

f) Cold calls

g) Reference from other verticals

h) Internal Channel leads

2. Rate the methods according to you(5 being the most effective and efficient and 1

being the less effective and efficient)

a) CIBIL

b) PSBL

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c) HL/LAP

d) Propensity Leads

e) CD leads

3. How many days do you take on an average to process a file (First call to the customer

to login)?

a) 0-5 days

b) 5-10 days

c) 10-30 days

d) More than 1 month

4. How many days do you take on an average to disburse a file (after login)?

a) 0-3 days

b) 3-6 days

c) 6-10 days

d) More than 10 days

5. What kind of problems you face while interacting with customers?(Tick

a) Competitor offerings

A1) Rate of Interest

B1) Processing fee

b) Brand value

c) Communication skills

d) Closure

e) Product Information

f) Rigidity on insurance

g) Negotiation

6. What kind of facilitation would you require from the company to solve your

problems?

a) Soft skills training

b) Grooming sessions

c) Eligibility Calculations

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d) Negotiation skills

e) Analysis of financials

f) Others

7. To what extent the following factors influence your performance, rate accordingly. (5

being the strongly agree and 1 being strongly disagree)

a) Customer past experience with company and its service.

b) Products features and benefits

c) Loan approval process

d) Sales target set by the company

e) Training and induction programme

Personal Information:

1. Gender?

a) Male

b) Female

2. What is your age?

a) 20-25 years

b) 25-30 years

c) 30-35 years

d) More than 35

3. What is your qualification?

a) Higher Secondary

b) Graduation

c) Post-Graduation

d) Others

Please spare a minute more to answer the following in as many words you want per

your convenience.

`

0

51

What are the two things competitor do better than us?

Specify two reasons where a cold call doesnt mature to closure.

What are the big two challenges you face while sourcing customers?