Final 2nd Report
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Transcript of Final 2nd Report
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Orientation Report On
India Infoline Gold Loan
Name: Sahil Manchanda
Roll No. : FT-(FS)-11-365
Name of SIP Faculty Mentor: Mr. Sachin Sinha
Date of submission: 7th May 2012
Organization for SIP: India Infoline Gold Loan
Company profile - IIFL was founded in 1995 by Mr .Nirmal Jain (Chairman
and Managing Director) as an independent business research and information
provider. It gradually evolved into a financial services solution provider. IIFL
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has a network of 2,500 business locations spread over more than 500 cities and
towns across India.
Date of joining - 2nd May, 2012
Branch location - 203, zoom complex
Devil more, near PNB bank,
Khanpur - 110062
Ph- 011- 29967960
Industry Mentor Mr.Akhilesh Gautam
Mail id delhi.kanpur.gl @indiainfoline.com
Contact no. 09311138870
Title of the project Project on Credit Appraisal on loan against Gold
As, an intern in IIFL Gold loan I am, being trained as a management trainee
under guidance of industry Mentor Akhilesh Gautam sir who is the branch
manager over here.
ACTIVITY REPORT 2
7th may 2012 - our branch manager told us to visit variousbank in khanpur market for analyze the banking sector
procedure for providing loan to consumers . I visited HDFC bank
they told us if you have the account in their bank the minimum
transaction could be of Rs. 30,000 otherwise minimum
transaction could be Rs. 40,000. They provided loan according
to the guidelines which are provided by the RBI for gold loan.
As compared with the other Banking and Non-banking sector
INDIA INFOLINE gives the minimum loan of Rs.2100 per gram
with the lower interest rate starting from 1.00% to 2.05%.
8th
may 2012 Today we thought how to deal with clientsand how to convince them that your 0rnaments are having 80-
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94% of purity depending upon the various KARAT and other
purity like HALLMARK gold ornament having 94% of purity.
We also learned how to calculate the purity of gold and
maximum amount of loan to be given to the consumer as perthe interest rate demanded by the consumer.
9th may 2012 Today we were introduce about the variousgold loan schemes provided by the IIFL gold loan for its
consumers. Various schemes are :-
FAST TRACK
FAST TRACK 1
LAON LAXMI I,II,III
READY MONEY I,II
JALDI MONEY
10TH MAY 2012 - Today we went to reliance capital in
friends colony New Delhi . There I was told about theconsumer dealing with BT(balance transfer) method where
the consumer who already have taken the gold from reliance
but as our company funding amount is high as compared to
other he was interested to make the transfer of loan to our
branch. Under this method we will give the money to the
consumer in advance so that consumer can pay the loan
amount to the existing firm and release their gold .
11th may 2012 - Today we learned about the procedurefor taking the money from the other branch. In this
procedure Ist of all our branch manager send the request for
cash from other branch with the latest information by our
territory head after the territory manager approved the
request for transferring cash from other firm.
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12th may 2012 Our branch had the case of balancetransfer from Muthoot Finance worth Rs.17,00,000. The
whole day spent in this case not much learning.
VARIOUS LEARNONG EXPERIENCE :- In this week Ilearned about the various procedures in the gold loan
organization and also learned the procedure of BALANCE
TRANSFER and CASH TRANSFER.
ACHIVEMENTS = I had lots of learning what to do whenthere is case of other BRANCH MONEY TRANSFER , BALANCE
TRANSFER .Now I am confident enough to deal with
consumers and also I may introduce them with variousschemes with different interest rate according to demand.
DIFFICULTIES FACED- Sometimes the consumers donot give the full information about their requirement as a
result we are unable to convert them in to our consumer.
SUPPORT REQUIRED- Our branch manager MR.
AKHILESH GAUTAM helped me at each and every stagewithout whom I was unable to do anything. He is only person
who trusted me and choose me for transferring the cash
from other branch with their staff.
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