Professional Documents
Culture Documents
We sell personal insurance including home, auto, marine, life, animal, health,
group health etc. We offer strong company representation in commercial lines as
well, including commercial property, liability including products, commercial
auto, professional liability, and certain kinds of bonds. We have markets for
specialty risks and also sell employment practices liability insurance. For
helping people make decisions about their insurance needs we are on. In these
trying economic times, youre looking for an agency and a company that you
can rely on.
STATEMENT OF PROBLEM:
In the current scenario where it is seen that big financial institutions have been
bankrupted just because of credit default so Credit Appraisal has become an
important aspect in the financial institutions and is gaining prime importance. It
is the incident of credit defaults that has given rise to the financial crisis of
2008-09. But in India the credit default is comparatively less that other
countries such as US. One of the reasons leading to this may be good appraisal
techniques used by financial institutions in India. Eventually the importance of
this project is mainly to understand the credit appraisal techniques used by the
financial institutions with special reference to straightace group.
SERVICES
Medical Insurance
The policy covers all hospitalization expenses for the treatment of illness/injury
provided hospitalization is more than 24 hours. Pre-hospitalization expenses for
30 days and post hospitalization expenses for 60 days are also payable.
Ambulance Charges for shifting the insured from residence to hospital are also
covered. This insurance is available to persons between the age of 10 years to
65 years. Children between the age of 3 months - 18 years can be covered
provided parents are covered simultaneously.
ACCENTUAL INSURANCE
This policy offers compensation in case of death or bodily injury to the insured
person, directly and solely as a result of an accident, by external, visible and
violent means. The policy operates worldwide and is a 24 hours cover. Different
coverage are available ranging from a restricted cover of Death only, to a
comprehensive cover covering death, permanent disablement's and temporary
total disablement's. Family Package cover is available to Individuals under
Personal Accident Policy whereby the proposer, spouse and dependent children
can be covered under a single policy.
VEHICLE INSURANCE
This policy covers all types of vehicles plying on public roads such as:-
Scooters & Motorcycles, Private cars, commercial vehicles, Motor Trade
(vehicles in show rooms). As per the Motor Vehicles Act, 1988 it is mandatory
for every owner of a vehicle plying on public roads, to take an insurance policy,
to cover the amount, which the owner becomes legally liable to pay as damages
to third parties as a result of accidental death, bodily injury or damage to
property. A Certificate of Insurance must be carried in the vehicle as a proof of
such insurance. No- claim discounts are available on renewal of policy, ranging
from 20% to 50%, depending upon the type of vehicle and the number of years
for which no claim has been made.
Fire Insurance
Life insurance that pays out a fix sum of money either on the death of the
insured person or after a set time period. here all kinds of life insurance Avilabal
for the customers like Term insurance, Traditional or Endowment plane, ULIPs,
Cash Back etc of all IRDA Registered insurance players who already moving in
the market either from general insurance or life insurance sector. we will
committed to provide all kinds of services to the customer apart from the policy
like renewal premium remainder and deposit on time to time, claim settlement
as soon as possibly, time to time information about fund value etc.
FIXED DEPOSITS
A mutual fund is a mediator that brings together a group of people and invests
their money in stocks, bonds and other securities. Each investor owns shares,
which represent a portion of the holdings of the fund. Thus, a mutual fund is one
of the most viable investment options for the common man as it offers an
opportunity to invest in a diversified, professionally managed basket of
securities at a relatively low cost. Investing in a mutual fund offers you a gamut
of benefits. Mutual fund usually spreads the money in companies across a wide
spectrum of industries. This not only diversifies the risk, but also helps take
advantage of the position it holds. A wide variety of schemes allow investors to
pick up those which suit their risk / return profile.
Sales Manager, Senior Sales Manager, Relationship Manager, Senior
Financial Relationship Manager
Varanasi, Uttar Pradesh
StraightAce Financial Advisors Pvt. Ltd.
Job Description
We deal in General Insurance sectors with the reputed brands across the
nation.
Functional Expertise: Sales in any sector & willingness to work in General
Insurance Sector.
Salary: 6000 to 15000 + Incentives / month (Negotiable)
JOB PROFILE
Attainment of individual sales.
Undertake joint field work and demonstrate successful sales skills.
Generate business or business development.
Professionalisms.
Provide feedback to trainers or circle manager.
Requirements
CANDIDATES
Should be residing in this location for at least 2 years.
Must carry two wheeler.
Graduate.
Sales background.
Smart communication.
Company Description
StraightAce Financial Advisors Pvt. Ltd. Is very young and new begin our
operations on Nov 1st... Read full description
Additional Information
Vacancies: 10
Salary range:
1,00,000 - 2,00,000 / Yearly (Gross Pay)
Bonus: + Incentives
Let Us See Some Videos And Understand How To Succeed With Something
New. With New Thinking And Capability, Because We Are The Only Person Or
Creature Of Our Own Career, Identity And Batter Future.
Milestones:
In just first few years from inception, we disbursed, 150 crores in vehicle
loans, SME loans, etc.
Exhibiting fabulous unlimited potential and quick growth prospects, we
entered into the channel business with a strategic relationship with HDFC
bank.
This was an immensely crucial year for the company as Motilal Oswal
Private Equity Advisors Pvt. Ltd. Infused Rs. 20 Crores worth of equity
and strategic acumen on board with a strong product support and constant
process development, we expanded our base to Gujarat
Established a relationship with IDBI, Central Bank of India and State
Bank of Patiala.
RBI classified the company as the only Systematically Important Asset
Finance Company in Rajasthan
Our exceptional long term facilities was were rated A-by CARE.
Based on high performance and consistent growth, CRISIL has upgraded
its rating to BBB+/ Positive
BOARD OF DIRECTORS:
DEPARTMENTS
Marketing Department.
Accounts Department.
Collection Department.
Credit Departments.
Human Resources Departments.
IT Department.
Insurance Department.
BRAND
Straightace group means gold which is precious and worthy across all
cultures and times. It symbolizes in service, wealth and happiness.
Financiers mean those who finance. As the name of the company
suggests, we are the company who finance thorough imperil service to
create happiness in the lives our precious and worthy customers. We
have launched the new logo of our company which is having
manifolds.
Firstly, it is symbolic to Swastik, the most prominent auspicious
symbol of the present era. Swastik symbolizes auspiciousness, well
being and let good prevail.
Secondly, it is made up with 4 Fs which means- Fast, Fair, Flexible
& Friend.
Thirdly, the color associated with it has deep meaning. Blue color is
considered to be a corporate color which symbolizes calmness, peace,
confidence, intelligence, stability, unity, trust, loyalty, wisdom, faith,
tranquility and sincerity.
Red color which a very emotionally intense color is associated with
energy, strength, courage, power, determination as well as passion,
desire, and love.
STRENGTHS
It highly focused on credit quality of the borrowers. Each file has to go through
layered filtration process of the company including credit verification at
different levels and final approval from head office. Company assesses the
synergy & viability between product, customer profile and products proposed
use.
Company has in house collection team with expert legal advisors who on
regular basis follows up with delinquent accounts. Company has layered
process which includes telecalling, personal visit, legal actions, repossession of
vehicles etc.
Straightace has a strong, highly motivated and enthusiastic team with rich
experience and knowledge of on-the-ground business. The core team has
worked with each other for the past several years. The team has been able to
establish strong relationships in the marketplace, as well as with various
authorities/establishments.
SOCIAL RESPONSIBILITY
Akshay Patra Foundation runs Nutritious food for children in schools a well
known mid-day meal program targeted towards school going children from the
under privileged sections of society. In the current year the company donated a
Mahindra Vehicle to Akshay Patra foundation
1. Saving of fuel with better fuel efficiency with new technology vehicles.
2. Improvement by way of reduction in remission of polluting gases by funding
of EURO certification vehicles.
OBJECTIVE OF STUDY
The Credit Policy for commercial vehicle caters the following segment of
customers.
First Time User (FTU) : Customer who do not have any commercial
vehicle or do not having any experience in the same segment directly of
indirectly will be classified as FTU
Transporter: These are the customers who have at least one commercial
vehicle in same or higher segment and minimum ownership period of 12
month.
2. Borrower Profile
a. Non Income Proof Customer: These are the segment, where customer
do not have any banking habit or do not have any proof to established his her
business or in other terms their income cannot be verified through any
document. It can be assessed only based on personal discussion and by
verifying his business or living standard. It can be again reclassified in
following two category:
II. Self Employed (Business): These are typically small business men,
who do not have any income proof. For example Shopkeeper / small trader /
agents / property dealer / Private teacher /employee getting salary in cash etc.
Document Required: Any proof which established the existence of business
like RST/SCT copy / Copy of purchase Bill/ Utility Bill in the name of Shop /
Salary Certificate on letter head / Photograph of Business premises supported
by CPV report or any other relevant document as per operation policy
(All such proof will help us in classifying the asset in PSL/Agri)
b. Income Proof Customer: These are the profile where income can be
accessed through various documents like banking / ITR / Salary Slip / Form
16 /Balance sheet etc.
Research type:
Sampling:
Sampling Size: 50
Research tools:
Pie charts
Line diagrams
Tables
Percentages
Source of data:
This study also helped me as I have not done any study at this level before, so
by this study I came to know about different Financial Institutions other than
banks, I came to know about the credit appraisal procedure of straightace,
various loan schemes of Straightace etc. by meeting the different high level
officials of straightace & different customers of straightace I think I have also
improved my confidence, communication skills etc.
Although the project aims data making in depth study of credit appraisal process
at straightace but there are some practical limitation regarding the methodology
followed & the overall procedure these can be summed up under the following
points:
1. Time constraint
2. No direct access to company data
3. Lack of interest shown by some officials of straightace
4. Questionnaire is filled according to the response given by the
customers, it
may contain some biased information
5. Sample size is not quite enough to reach to any precise conclusion.
Ratio Analysis
Profitability Ratio:
Following are the important overall profitability ratios, which relevant to the
business concerns are:
Return on Assets
Return on Capital Employed
DATA ANALYSIS
Age Respondent
18-28 14
28-38 21
38-50 15
>50 0
Total 50
Respondent
25
20
15
Axis Title
10
0
18-28 28-38 38-50 >50
Interpretation:
The sample population was divided into four different age groups to better
understand their behavior. The survey results show that majority of the auto
loans were taken by the age group of 28 -38.
Respondent
< 1 Lakh 1-2 Lakh 2-5 Lakh > 5 Lakh
8% 4%
28%
60%
Interpretation:
Second classification of respondent is based on the basis of their annual income.
This classification is done to know that mostly which income level people have
more demand for loan. In Auto Loan on an average the annual earnings of 60%
% 1 - 2 lakh and the smallest percentage is 4% is less than 1 lakh.
Respondent
Farmer; 2%
Government Emp; 2%
Interpretation:
40
35
30
25 37
20
15
10 13
5 0 0
0
Respondent
Interpretation:
24%
Yes
No
76%
Interpretation:
As the graph depicts that 76% of people would recommend the company to
their friends and relatives. This shows the satisfaction level of the customers
with Straightace. And the 24% people will not recommend because of the high
interest rates and penalty charges not because of the services.
30% Yes
No
70%
Interpretation:
As the graph depicts that 70% of people would prefer the company once again.
This shows the loyalty level of the customers with Straightace. And the 30%
people will not prefer because of the high interest rates and penalty charges not
because of the services.
24%
Yes
No
76%
Interpretation:
The findings suggest that 76% customers are satisfied with the rate of interest
charging by STRAIGHTACE and only 24% are unsatisfied. But the company
should review its interest rates from time to time in order to be competitive in
the market and to improve customer satisfaction continually.
8. SATISFACTION LEVEL
Interpretation:
As per the survey, a majority of the people were satisfied of the facilities
provided by STRAIGHTACE. However, a certain segment of the population
was not at all satisfied with the services provided by STRAIGHTACE.
Dissatisfaction depends largely on other factors for example, bad customer
relationship, and many such factors which are discussed in detail in the latter
part of the report under the heading suggestions which have been originally the
complaints of dissatisfied customers.
FINDINGS
1. The company has taken funds in the form of loans and advances
irrespective of issuing equity capital and hence, the cash has been paid in
the form of interest which has increased manifold times from the last
year.
2. It is found during survey that company is not investing money in
advertising and promotion activities. All the customers got to know about
Straightace through their friends and relatives
SUGGESTIONS
FACTOR FIRST:
Some extra benefits can be introduced for the existing
customers.
Advantages:
It will reduce switching of customers
It will attract new customers.
Suggestion: Since Straightace doesnt provide two wheeler loans; it is
recommended that company should provide it so that it can capture more
market.
FACTOR SECOND:
FACTOR THIRD:
Stra Financiers (India) Pvt. Ltd. is growing company with roots in Rajasthan,
Maharashtra & Gujarat. The financial profile of the company is good because
company has good relationship with banks like HDFC, IDBI, SBI, DCB, AXIS,
BOI ANDHRA, PNB CBI, INDIAN, SIDBI, INDUSIND, & SBOP. The
number of people and customers is increasing very fast and the number of the
branches across the state is increasing very fast. Also the net worth of the
company showing that company is on good track.
The biggest USP of the company I found was it provide loan or it sanction loan
at very less documentation. Good coordination between organization and
customers, which reveals the importance of fair and clear business.
Bibliography
BOOKS
Websites:
1. www.Straightacefin.com
2. www.wikipedia.com
OTHER SOURCES:
1. Name
2. client Number
3. Vehicle
4. Finance Amount
5. Contact No.
3. Occupation of Respondent
(i) Government Employees
(ii) Private Employees
(iii) Businessman
(iv) Farmer
6. For the Past how many times you have taken loan from this company?
(i) 1
(ii) 2
(iii) 3
(iv) More than 3
7. Do you feel that the procedure to apply loan with the was difficult?
(i) Yes
(ii) No, it was easy
12. For the past how much time you have taken loan from this company?
13. How much time the Straightace took to sanction your loan? (From the
time of application)
14. How satisfied are you with the services provided by the straightace?
(i) Very satisfied
(ii) Satisfied
(iii) Somewhat satisfied
(iv) Dissatisfied
15. What are your suggestions for the betterment of the services provided
b straightace ?
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