Classification: Internal - Non - Shareable
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0
SOP for Pragati Business Loans
Version 7.0
Classification: Internal - Non - Shareable
For internal circulation only 
1
Document Control
Document / SOP ID
Version No. 6.0
Release No. 6
Release Date 12.10.2023
Previous Release Date 30.12.2021
Written By Sridip Sur
Reviewed By Vinayachandran U
Approved by (physical or electronic) Dhaval Oza
Name of File SOP for Pragati Business Loans
Document Amendment History
Version Date Change Details Initiated by Approved By
1.0 10.10.2018 First version Vinayachandran U Rahul Ghule
2.0 20.07.2019 Updated document Himanshu Ohja Dhaval Oza
3.0 16.07.2020 Updated document Himanshu Ohja Dhaval Oza
3.1 23.11.2020 Updated document 
– Property Paper 
Management 
incorporated
Himanshu Ojha Dhaval Oza
3.2 06.01.2021 Updated document 
– E Sign and E 
stamping Process
Himanshu Ojha Dhaval Oza
3.2 06.01.2021 Updated document 
– Shredding of 
Rejected 
Applications
Himanshu Ojha Dhaval Oza
3.3 04.03.2021 Key Management at 
Branch
Himanshu Ojha Dhaval Oza
3.3 04.03.2021 Update in collection 
Process
Himanshu Ojha Dhaval Oza
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3.4 13.10.2021 Update in SO 
Incentive process
and SO onboarding
Jayesh Malvankar Dhaval Oza
4.0 30.12.2021 SOPs for legal and 
technical along with 
formats and 
deviation matrix 
have been added to 
this document as an 
annexure in lieu with 
launch of Micro 
LAP/Micro LAP BT
under MBL
Sridip Sur Dhaval Oza
5.0 29.12.2022 Updated document Sridip Sur Dhaval Oza
6.0 25.08.2023 Updation in key 
handling process.
Sridip Sur Dhaval Oza
7.0 29.12.2023 Modification in 
branch opening key 
handling process.
Sridip Sur Dhaval Oza
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Table of Contents
1. INTRODUCTION…………………………………………………………………………………….….…………3
2. SCOPE……………………………………………………………………………………………….………………...3
3. PRODUCT BRIEF……………………………………………………………………………………….………...3
4. LOAN ORIGINATION PROCES……………………………………………………….…………………...3-8
5. E SIGN & E STAMP PROCESS……………………………………………………...…………………….8-10
6. DIGITAL WORKFLOW……………………………………………………………………………………10-11
7. HANDLING OF REJECTED FILES…………………………………………...………………….……………………12
8. COLLECTION……………………………………………………………………………………….…………………………13
9. Key Management Process at the MBL Branches…………………………………...…………...….……..19
10. SALES OFFICER ONBOARDING & RESIGNATION PROCES…………………………………......23
11. SALES OFFICER SEPERATION/TERMINATION PROCES………….…………………………….24 
12. INCENTIVE PAYOUT PROCESS …………………………………………………...……………………….25
13. SALES ONE APPLICATION ……………………………….…………….……………………………….30-35
14. RISK REGISTER……………………………….……………………………..………………….………………………..36-41
15. Annexures……………………….…………………………………..……………………………………….………………..42
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1. INTRODUCTION
Pragati Business Loan is a funding program which specifically targets the entrepreneurs with the multiple 
objectives of: 
• Helping these businesses realize their full growth potential. 
• Creating a high yield and high PAT portfolio. 
• Benefiting from a very granular and diversified portfolio where the risks are minimized. 
• Cross-sell opportunities in this segment which have largely been untapped till this point of time. 
2. SCOPE
This document will cover standard product construct and process guidelines for the stakeholder to avoid any 
ambiguity with respect to the processes which need to be followed. The document will also cover the roles and 
responsibilities of different functions involved in the end-to-end process. 
3. PRODUCT BRIEF 
Parameter Loan Range in INR
Ticket size 
(Min-Max)
25,000-
10,00,000
2,00,000-10,00,000 2,00,000 – 30,00,000
Maximum 
Tenure 
(in months)
60 Up to 84 Up to 240
Nature of 
product
Un-secured Un-secured Secured
Collateral No Collateral Negative Lien marked on his 
owned property and title deed 
taken in custody,
Properties as defined in product 
policy. MODT and RM as applicable 
as per state laws.
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4. LOAN ORIGINATION PROCESS 
Steps, system, responsible person and expected TAT - Un-secured.
Activity System Responsibility TAT
Sourcing
• Source business through Beat sourcing only. No connector or DSA 
business is allowed.
• Sourcing of customers within approved radius of the MBL branch. 
SO can source from the allocated pin codes in SO application.
• Leads generated during the field visit are to be captured with the 
basic details: name, contact number, and business name also.
• Leads can be generated through partner referral model as well, but 
all these leads will be processed through FOS by the SO. Partner can 
also take access of FOS in sourcing the leads, for all these cases the 
approved on-boarding and underwriting process will follow.
• Classify the lead in hot/warm/cold and capture follow up date if any.
• Follow up on the hot leads as per the as well select correct 
disposition post feedback received from the customer.
• Brief the Interested customer on product features basic eligibility 
criteria, document requirements.
• Take appointment with the customer for future visit for onboarding.
SO App SO NA
ONBOARDING OF CUSTOMER
• Visit the customer’s business premises on the scheduled date and 
time.
• Capture the phone number of the applicant/co-applicant to trigger 
the OTP to verify the number and take the consent from the 
customer for fetching CKYC details (if available) and checking credit 
history from credit bureau.
• OTP along with a message for consent goes to the customer. 
Customer can click the URL under the SMS to visit to our website to 
read the terms and conditions. 
• Post reading and understanding the terms and conditions, customer
enter the OTP in assisted model not shared with FOS to proceed 
further. 
• Capture the PAN Card (OCR or manual)/ form 60 to proceed.
• NSDL call out will happen to verify PAN details.
• Choose out of the 3 available workflow options:
o EKYC
o CKYC 
SO App SO T
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o Manual
• If EKYC is selected, then biometric of applicant/co-applicant will be 
done with the handheld device to fetch applicant/co-applicant
details. For lady co-applicants, OTP based EKYC option available as 
well. Here we can do address modification with the help of 
biometric EKYC with customer consent taken via OTP.
• On success, verify the details (name, DOB, address) retrieved from 
UIDAI, if correct then the information will be flown further, and 
demographic data and current address will be non-editable.
• If CKYC option is opted, then available demographic details to be 
fetched from CERSAI database.
• If the 3
rd option is selected, then capture details from OVD 
(Aadhar/Voter Id/Passport/Driving License).
• SO can either capture the data through OCR or enter the details 
manually.
• Take a clear picture of the customer.
• Take a clear picture of the Business premise.
• Capture Requested loan amount.
• Capture the scheme under which customer wants to apply the 
loan – Unsecured/ Quasi Secured/Micro LAP/Micro LAP 
BT/Property Power.
• Post capturing of details for applicant/co-applicant trigger dedupe.
• In case of dedupe rejection, the customer journey ends there and 
the same is communicated to the customer.
• In case of dedupe approval, capture further details of the
employment of applicant/co-applicant.
• Capture details of business – name, ownership type, constitution 
of entity, date of inception, nature of business, duration of current 
business at current location and total duration of business.
• Capture requested loan amount, requested tenure and purpose of 
loan.
• Capture type of property offered as collateral in case of Quasi 
Secured/Micro LAP/Micro LAP BT/Property Power and current 
usage of the property.
• Trigger score card check.
• In case of score card rejection, inform the customer and journey 
ends there.
• In case of score card approval Proceed further by opting one of the 
following:
o Proceed digitally – scan and upload all the necessary 
documents required for appraisal along with bank 
statement.
o Digital without banking– submit banking statement later 
but scan and upload all the required documents for 
appraisal.
• After selecting the journey type, SO needs to upload the scan copy 
of all the mandatory doc’s as per login checklist for both applicant 
and co-applicant on SO App and submit the case to SFDC.
LOGIN OF FILE 
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• Post score card approval, case flows to SFDC and appears under
data verification stage.
• BOM to verify all the details entered by SO at the time of login. In 
case of any discrepancy, highlight it to the respective sales manager 
(SM). SM to rectify/resolve the highlighted discrepancies.
• SM/SO to collect clear copies of property paper from the customer
and submit them in the file for checking by BCM/BOM. 
• BOM/SM check the application form, KYC and other document 
submitted for login and cross check the details with the 
data/documents flown digitally through SO Application as per the 
login checklist.
• In case of any discrepancy or incompleteness in any document/CAF,
return the files to respective SM for correction and completeness.
• In case of no discrepancy, update FTS/Data Verification Stage.
• Move the approved case further to credit.
SFDC Sales Manager
Branch 
Operation 
Manager 
(BOM)
T+1
CREDIT APPRAISAL /ASSESSMENT/APPROVAL and RCU
• Contact Point Verification (CPV) as well as RCU gets triggered from 
system.
For Quasi Secured Cases (MBL Plus)/Micro LAP/Micro LAP BT/Property 
Power, Legal verification/search is initiated as per applicable product 
policy parameters, we need complete legal check/search report, 
technical valuation/desktop valuation and CERSAI as per MBL secured 
cases policy. Requirement of Registered mortgage, negative lien, 
MODT, registration of MODT will be as per product policy parameters 
and/or respective State bye laws. For Micro LAP-BT, legal is waived 
from the list of financers as mentioned in the existing policy where 
customer has availed a secured loan. However, title search continues 
to be applicable.
• BCM/BOM will co-ordinate in giving the hard/soft copies of 
property document to legal vendor & technical vendor (for Micro 
LAP/Property Power) respectively depending upon the 
requirement of Legal / Technical for respective schemes and 
receive the respective reports at the branch.
• BCM/BOM to share the hard/soft copies of the property document 
to legal vendor.
• Property verification report is prepared by BCM in case of secured 
loan. Any other on roll branch staff can also submit property 
verification reports in exceptional cases with specific approval
from NCM/BH.
• Property details need to be cross verified by BCM during collateral 
visit with the property documents (soft/hard copies) provided at 
the time of login for Quasi secured loan.
• Based on PD, internal policy & FI report, cases will be 
approved/rejected in system
• For secured cases, legal report, property verification and valuation 
report (for Micro LAP/Property Power) considered for approval 
and rejection.
• Customer to be communicated regarding the final decision of the 
case.
SFDC/P
D 
App/CP
V App
Branch Credit 
Manager,
vendor for CPV
RCU
T+2
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• RCU is done as per product policy norms in parallel to credit 
assessment.
• In case RCU is negative, the case can be deviated only with 
approval from RCU team basis mitigates provided as per RCU DOA 
matrix.
POST SANCTION PROCESS
• Post sanction, SM can do all the rate approvals (if any) & Insurance 
product offerings in SFDC.
• Physical copy of system generated; prefilled loan agreement &
NACH Form are signed by the customer.
• Security PDCs and other documents as per disbursement checklist 
are collected from the customer.
• Customer File with all the collected documents, signed CAF & loan 
agreement are uploaded in filenet.
• SM/BM to submit the property Paper as per legal report 
requirement to Branch Operation Manager/Branch Credit Manager. 
• BOM/BCM/BM keep property paper in vault and give the same to 
vendor staff for vetting during his visit to the branch. Vetting can be 
done at the branch.
• If required, vendor/ staff will collect property papers from branch 
and vetting will take place in vendor's office.
• In exceptional cases original property papers will be handed over 
directly in vendor office by BSM/BM/BCM/BOM/Customer.
• A separate process needs to follow for BT case once we receive 
property papers from other financer as per policy. 
• Post vetting vendor will deliver original property paper to Branch 
Operation Manager at the Branch. In case BOM is not available at 
the branch, BCM or BM will receive the original papers from the 
Vendor.
• As an exception any on-role staff (BSM / BM / BCM / BOM) can pick 
property papers in sealed envelope from vendor and submit the 
same to BOM/BCM/BM with approval from BM and above.
• In case of any discrepancy raised by legal vendor, need to be solved
before disbursal and obtaining revised LSR if required. 
• Post vetting property papers need to be kept safe in vault by 
BOM/BCM/BM and property paper management register to be 
updated with the record of property papers kept in the vault. In the 
case of one vault custodian not being present on that day, the vault 
will not be operational, hence the property papers will be kept in 
the drawer of BM/ BCM or BOM in lock and key for that day. This 
would require approval from PH/ZOM.
• RCU screening of property paper required as per policy before or 
same day of disbursal is mandatory. 
• RCU will stamp on sheet mentioning details of vetting report and list 
of documents seen by them, this will be dispatched to RMU with 
property papers docket.
• BCM/BOM to do PDD entry in system for property papers for all 
quasi / secured schemes. PDD tracking and deviation policy is same 
across mortgage product, BCM/BOM sends all the documents as per 
SM/BOM/BCM T + 3 
/ 4
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legal, vetting report to Central Operations team. The Central 
operations team receives the same and updates records.
DISBURSEMENT
• Check the file for completeness and related documents submitted 
for disbursement.
• BCM/BOM to cross verify all the captured information and digitally 
flown documents as per the disbursement checklist.
• BCM/BOM punches the required details in system for 
disbursement, capture mode of repayment and account details
and disburse the case in system.
• BCM or BM to give property paper confirmation before D 2 to 
BOM / CPA.
• In case of any discrepancy mentioned in vetting report like, name 
mismatch, whitener, cutting, over writing, damage from corner 
should be approved by concern authority as per policy document.
• For Quasi scheme negative lien and other secured scheme MODT
or RM as applicable should be error free with respect to content 
and format and checked before submission for disbursement, for 
secured schemes all documents need to check as per requirement 
of legal, technical reports.
• D1 to be done by BCM /Branch Manager /BOM/CPA.
• D2 to be done by Branch Operations Manager (if D1 is not done by 
him/her).
• In case BOM is not available at the branch or D1 done by BOM, D2 
to be done by CPA attached to the branch basis scanned 
documents uploaded on SFDC or by BOM who has rights to the 
branch.
SFDC/
Finnone
BCM/BOM/BM T + 
4/5
POST DISBURSAL PROCESS – DISPATCH OF CUSTOMER FILE TO 
RECORD MANAGEMENT UNIT (RMU)
• Check the documentation of the file with respect to login and 
disbursement checklist.
• Put the SPDCs in an envelope.
• Scan the NACH Mandate using the third-party application to 
register NACH mandate.
• Put the file in the dispatch packet and seal it properly.
• Put the POD bar code sticker as provided by the courier service 
provider.
• Handover the dispatch packet with the file to the courier.
• Mail the MIS to central Ops regarding the dispatch of the file.
FTS BOM T
(disb
ursal 
Day)
/T+1
POST DISBURSAL PROCESS – DISPATCH OF PROPERTY PAPERS TO 
RECORD MANAGEMENT UNIT (RMU)
• Arrange the property papers as per the legal and vetting report.
• Put the property papers in the dispatch packet.
• Put POD sticker as provided by the courier service provider.
• Send MIS update regarding the dispatch of files to the central Ops.
• Handover the packets with property papers to the courier person.
• Intimate RMU team also on mail regarding the dispatch of 
property documents by BOM/BCM.
• Acknowledgement mail of property papers need to keep safe for 
any reconciliation.
FTS
BM/BOM/BC
M
T 
(disb
ursal 
Day)
/T+3
(wor
king
days)
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• Any discrepancy highlighted needs to be resolved by BOM and 
knock off mail from RMU required to be documented.
• In case of any BT / Foreclosure / loan tenure closure property 
papers need to be received by branch from RMU.
• It should be stored in vault after entry in property paper 
management register by BOM/BCM. 
• After handing over property papers to property owner(s), a letter
of satisfaction needs to be sent to RMU. 
• In case of any BT / Foreclosure/ loan tenure closer, the abovementioned process of property handover should happen within a 
period of 30 days after full repayment/ settlement of the loan 
account.
• Letter Of Authority issued to BOM & BM along with BCM for 
o RM /MODT creation (if signature of Bank Official is 
mandatory).
o for discharging our charge on loan after closer of the loan.
• Revaluation of property to be done as per existing mortgage policy 
at bank level.
*Actual processing time depends on the time taken by applicant to provide complete set of documents.
Existing SOPs signed off and applicable for mortgages for handling legal and technical verifications for Micro 
LAP & Micro LAP BT and relevant formats have been made part of this document as Annexure 1 along with 
MODTD filing instructions.
The Borrower(s) shall be allowed to Foreclose the Loan as per the rules/policy of the Bank from time to time, 
including as to payment of Foreclosure charges, provided however that, such Foreclose shall be allowed only 
after a period of 6 (six) months from the date of loan disbursement. Any deviation from this will require BH 
approval.
Instrument Cancellation process in case of failed balance transfer has been added in the annexure.
SMS /Mail communications to customer at different stages of customer journey (from Application to 
Disbursement): 
Customer 
Communication.xlsx
5. E-Sign and E Stamp Process
Activity System Responsibility TAT
Post sanction process – System Generated documents
• BM/BSM will upload Negative Lien document (Only for 
quasi secured cases).
• Post sanction, SM can do all the rate approvals (if any) & 
Insurance product offerings in SFDC.
SFDC BM/BSM and 
above
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• After the mandate process is completed, SYSTEM 
GENERATED DOCUMENTS will be created in SFDC system.
• It will have documents uploaded by the user which will be 
automatically pushed to file net. For Loan Agreement, 
Sanction letter and Application form, BM/BSM will click on 
‘Generate’.
• BM/BSM will click ‘Submit’ to push the case for E stamp 
and E sign.
• In case documents are not pushed to filenet, it will not 
allow user to move ahead.
• RCU screening is done based on RCU scorecard and should 
be completed for documents uploaded in Sanction stage
before moving to ESTAMP and ESIGN.
Post sanction process – E stamp & E sign
• SO will meet customer as per pre-decided schedule for 
further process.
• SO will click ESTAMP & ESIGN on the home page of SO 
app.
• E stamp process will follow.
• SO will enter the LAN no on the next page.
• Click ‘Proceed’ individually for each document.
• The status of each document will change to ‘Requested’.
• Next message of updating details to SFDC server will 
come.
• Status will be shown as success if E-Stamp is successful on 
all documents.
• An Error! Page will pop up if any technical or network 
unavailability issue is faced.
• SO will have two options: a) RETRY b) OK.
• RETRY can be clicked three times for each of the 
documents, if it gets successful in any attempt, E stamp is 
complete. If even after three retries, it shows Error! Page, 
click OK.
• Its status will be shown as failed.
• After E-stamp process for each document is done, E-sign 
process will follow.
• SO will have to click Proceed to E-sign.
• Applicant’s name will be displayed on screen; SO will click 
on applicant’s/co-applicant’s name.
• Two options will be displayed:
o OTP.
o Biometric.
• If OTP option is selected, next SO will click initiate E-sign.
• Correct Aadhaar no. will be entered.
• Click ‘Accept’ conditions and Click Generate OTP.
• OTP will be received in Customers Aadhaar registered 
contact number.
• Enter OTP and click submit.
• If Biometric is selected, next SO will click initiate E-sign.
SO App SO
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• Correct Aadhaar no. will be entered, and process will be 
completed by using Morpho/SecureGen.
• Next, click on the co-applicant’s name and follow the 
same process as of Applicant.
• If a page with invalid OTP value pops up, click and re-enter 
the correct value, maximum three attempts are 
permissible.
• If all attempts are wrong, the screen will redirect to 
applicant/Co-applicant E-sign page.
• If E-sign retries are left, SO can retry again.
• If Error! Page pops up, SO will click RETRY (at bottom of 
page), maximum three retries are permissible.
• If it fails in all tries, SO will choose SKIP ESIGN and E-sign 
process will fail for that applicant/co-applicant and whole 
E-sign process will be terminated, BM/BSM will proceed 
for physical signatures.
• E-sign is successful only when E-sign is successful for 
applicants and all co-applicants.
• For E-Stamp failed documents, BM/BSM will have to 
download E-Signed documents applicable for stamping & 
get them physically stamped.
• In case any E-sign process fails (i.e., E-sign process 
terminated), BM/BSM will have to download all Estamped and other documents from filenet & get them 
Physically Signed by all applicants.
• If E-stamp is successful then e-stamped document is 
uploaded in filenet and post e-sign, if e-sign is 
successful then a consolidated e-stamped and e-signed 
document is uploaded again in filenet.
• For the cases where E-Stamping is successful, stamp 
charges to be deducted from the disbursal amount.
• BOM to enter the Stamping charges in Finnone under 
Stamp charge code before disbursement.
Finnone BOM
6. PSL Reporting Process
Activity System Responsibility
If Udyam Certificate or application for Udyam is provided by sales, 
then only BOM will mark PSL as "Yes" at CPA login stage else 
proceed as “No”.
SFDC BOM
If Udyam Certificate is provided at disbursal, BOM will check the 
data entry and upload the certificate in filenet.
Filenet BOM
Post disbursement, sales to collect and submit Udyam Certificate 
for all unsecured business loans and Micro LAP disbursed cases.
Sales
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Udyam Certificate received from sales team post disbursement, 
BOM will check and upload the certificate in filenet.
and submit to BOMs for checking, upload of URC in filenet and PSL 
reporting
Filenet BOM
BOM will do the data entry for all the cases where Udyam 
Certificate is received in the MS Forms link.
MS 
Form
BOM
Product team tracks the PSL data of last month and gets the 
Udyam details submission completed by branch ops team by 15th
of the subsequent month.
MS 
Forms
Product 
Manager
Centrally, product team will do the basic data validation check and 
complete the data clean-up exercise by modifying the PSL tagging 
basis the Udyam Certificate details received in MS Forms and send 
it for BH approval and then to finance regulatory team.
Product 
Manager
Post Finance regulatory team concurrence, the data will be sent to 
central ops team for uploading the final data in Finnone. From 
there onwards, SOP of PSL tagging in Finnone is maintained and 
followed by central ops team.
Finnone Central Ops 
Team
Since detailed underwriting happens for each case of MBL where the credit team visits the customer’s 
business place mandatorily and appraises the customer. Business type related information is captured 
during these visits and validated with relevant documents and agreed by customers through the loan 
application. Thus, the following information: type of business – manufacturing/trading/service is more 
accurate than the URC document as the same is self-declared by the customer. We consider this information 
captured by credit for sub-classification during PSL reporting.
Please note, the average turnover for MBL customers is much below the threshold of micro classification as 
defined by RBI. Therefore, the customer predominantly continues to be in micro segment during the tenor of 
the loan.
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7. Digital workflow:
➢ Customer Journey:
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➢ STP Workflow:
➢ Sanction to E-Sign stage:
➢ Stage Wise responsible stake holders
➢ Login and Data Verification: BOM.
➢ UW: Credit Manager.
➢ Sanction: RO & Above.
➢ DV Hold: RO & Above.
➢ Sales Refer- RO & Above.
➢ FTS Hold - RO & Above.
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➢ U/W Hold- RO & Above.
➢ UW reject relook- RO & Above.
➢ CPA Disbursal FTS- BOM.
➢ Sales Disbursal FTS- RO & Above.
 NOTE: In case of hard rejection case moved out of the flow.
8. Handling of rejected files at the MBL Branches
SN Process Steps Role
System 
Involved
Expected 
Outcome
Duration
1
If any physical document collected for
rejected loan files, it is to be stored at the 
respective branches in custody of BOM/BM
for 90 days [from the date of rejection].
BOM/BM Manual
Rejected 
loan files are 
stored in 
branch 
custody
Monthly
1.1
Destruction of physical documents collected 
rejected loan file is to happen at the 
respective branch only once in a subsequent 
Month for files which are rejected more 
than 90 days.
List of rejected cases report is generated in 
system with below fields (upon system 
functionality in place). E.g.:
• Branch Code & Name
• Application Reference Number
• Customer Name
• Login Date
• Rejection Date
Rejected Files with >90 days from date of 
rejection are shredded in presence of 
BM/BSM by BOM.
Status of shredded files are updated in the 
excel sheet with the list of rejected cases. 
BOM/BM Excel 
Spreadsheet
Rejected 
loan file 
details are 
extracted
Monthly
9. Collection 
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Cash can be received only by the designated officer at the branch. For all cash/cheque payments received 
from a customer a receipt must be issued to the customer through En-collect App or Smart Collect App.
All the cash collected at the field is done by our collection officer who is controlled by the branch team. Field 
officers must deposit cash within 48 hours to the designated officer.
For all settlement cases cheque /cash / pay order /demand draft can be accepted as per the settlement 
plan/ advice from collections team. For all cash payments of Rs.50000/- and greater the PAN Card number 
of the customer or the person making the payment (3rd party settlement) is required and should be 
mentioned in En-collect/Smart collect app or web version while cutting the receipt.
Anytime a payment is taken towards part or full settlement which is either done by the collection department 
or a collection agency there must be a settlement approval / settlement letter issued by appropriate 
authority which needs to be given to the cash Officer before the payment is made. No payment can be 
accepted if it’s not supported by a settlement approval / Letter.
Rights Given –
Designation Rights
Branch Operation Manager To collect cash at branch and deposit to CMS
Product Manager Report access
User Creation & Deactivation –
Designation Rights
Branch Operation Manager Centrally by collection strategy team
Product Manager Centrally by collection strategy team
Activity System Responsibility
TAT
➢ The normal mode of repayment for the product is through NACH.
➢ The due date for all the accounts is the 5
th of every month. For loans booked till 
5th, EMI will start from next month and post 5th the due date will start from next to 
next month.
➢ A reminder SMS will go to the customer to remind him/her of the upcoming 
EMI.
➢ The call center team also reminds the customer on the upcoming EMI from 
21st of every month till 2nd of next month.
BOM/Col
lection 
Officer
BOM
Classification: Internal - Non - Shareable
For internal circulation only 
18
➢ In case of bounce, follow up is done to recover the bounced EMI along with 
the applicable charges/penalty from the customer through different 
channels.
➢ Customers can repay the EMI amount and charges through different 
channels provided by IDFC FIRST Bank – Online, NOVOPAY Centre, PAYTM, 
PINELABS POS Terminal or nearby branch to deposit the cash towards the 
repayments. 
➢ Acknowledgement/receipt is provided to customer for any repayment 
towards the loan.
➢ In case of customer branch visit to deposit cash:
• Ask for the Loan Account Number of the customer.
• Check the EMI amount and applicable charges to be recovered from the 
customer.
• Collect the cash from the customer towards the repayment.
• Update the recovered amount and charges against the loan account and 
issue the repayment receipt to the customer against the collected EMI 
amount and applicable charges.
• Issue the receipt of the collected amount generated by En-collect/Smart 
Collect application or Web Version (No physical receipt).
• Create a batch for the collections through En-collect/Smart Collect and 
deposit the amount with the batch to CMS Team (With Pay - in Slip) to 
deposit the cash collected.
• In case, cash has remained at the branch to be deposited in the vault at the 
branch the process defined by collections team to be followed for cash 
retention and CMS pickup. In the case of one vault custodian not being 
present on that day, the vault will not be operational, hence the cash will be 
kept in the drawer of BM/ BCM or BOM in lock and key for that day. This 
would require approval from PH/ZOM.
• CMS team will visit branch on daily basis for cash collection (If Any), for 
existing asset branches cash can be handed over to branch cashier available 
in the branch.
➢ Process for Cash Handover to CMS Team –
• The Branch Operation manager accepts the cash from the customer and cuts the 
receipt from SFDC, against respective agreement number after filling all the 
required details. All cash received will be entered in the cash inward register.
• At the end of the day Branch Operation Manager create the 
‘Batches’ in SFDC for all the cash collected / receipts issues in entire 
day and tally the amount and keep in the safe custody If the pickup 
for the day has already been done and cash collected needs to be 
stored overnight.
• Cash will be kept in the vault all the time. If the 2nd key custodian is 
not present in the office, then cash will be kept in the BOM drawer. 
But at EOD, all cash will be stored in the vault without fail. Teams are 
already maintaining a vault stock register for property paper
vaulting. In the same register, the BOM will enter the daily cash 
SFDC
Classification: Internal - Non - Shareable
For internal circulation only 
19
balances. The closing balance from this register will be matched with 
the closing batch balance at each EOD.
Once the CMS pickup agency comes for pickup at agreed timing, Branch 
Operation manager and banks pickup agent will scratch the HCIN (Hidden code 
Identification number) slip respectively and match the number to identify if the 
pickup agent is correct. (HCIN slip books are handed over at each pickup point by 
pickup agency at the time of startup). If it is next day, once the CMS pickup 
agency comes, the BOM will generate the Pay-in Slip from the system. He will 
also fill in the cash deposit slip. Both these will be signed and stamped by IDFC 
and CMS representatives. 
• Once the HCIN slip is matched, Branch Operation manager will 
generate the pay in slip in SFDC for all the batches which are pending 
for Deposition and tally the cash with the denominations mentioned 
in Pay in slip and mention the total amount on HCIN slip as well.
• Pickup agents will count and verify the entire cash and tally with the 
Pay in slip copy, pickup agents supposed to identify any fake / toned 
/ cut note at the time of pickup and its CMS agencies responsibility if 
any such case identified once the pickup is done and they will not 
debit us for any such cases.
• The Branch Operation manager and pickup agent will exchange the 
HCIN slip, then pickup agent will provide their acknowledgment on 
the HCIN slip and Pay-in slip copy and accept the cash.
• The Branch Operation manager will file the acknowledged pay in a 
slip and HCIN slip for future reference.
In case of initial money deposit/processing fee cheque getting collected, same 
will be handed over by business team to the BOM. At the time of hand off, entry 
to be done in the register and the IMD tracker. Once the CMS agency comes for 
cheque pick up, the deposit slip needs to be filled and only then cheque needs 
to be handed over.
If in any exception scenario, cash collected is not given to CMS on the same 
day, the same should be kept in vault and record should be maintained in Vault
Stock Register.
10. Key Management Process at the MBL Branches
10.1 Purpose of Vault at the Branch & Custodians 
Vaults at the branches are provided to store the valuable and critical documents/assets at the branches.
Classification: Internal - Non - Shareable
For internal circulation only 
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➢ Following items can be stored at the vaults:
• Overnight Cash, collected from the customers against the repayment of the loan.
• Property Papers.
• Duplicate keys of other branches.
➢ Following can be the custodians of the vault at the branch:
• Branch Manager + Branch Operations Manager.
• Branch Manager + Branch Credit Manager.
• Branch Operations Manager + Branch Credit Manager.
➢ Any item can be stored or removed from the vault in the presence of the dual custodian only. 
➢ Inward and outward registered to be maintained for any movement of items in/out of the vault.
10.2 Lodgment of duplicate keys
• The branch should lodge all duplicate keys of the branch (except branch opening keys) in an off-site 
location / nearest other bank branch. Please note, both the primary and secondary branch opening keys 
will be with the on-role staff of that particular branch but with different employees. In case only 1 onrole staff is active at any point, the secondary key should be lodged in the nearest branch.
• The branch so selected should also be functioning on the days when the concerned branch is 
functioning.
• In cities, where only one branch is operational, the duplicate keys should be lodged with another cluster 
or state level office of the bank for safe custody under the custody of the state or cluster manager.
• The authority to lodge and withdraw the duplicate set of keys should be jointly by any two authorized 
signatories of the branch. Any change of authorized signatory should be communicated to the concerned 
Bank/ branch where the duplicate key is kept.
• The back up custodian can be common for the duplicate set of keys at different times.
Procedures for lodgment of keys:
• A list of keys should be prepared in duplicate, listing only the key number (The nature of key 
should not be mentioned in the list).
• One copy should be placed inside the envelopes along with the keys and the other copy should 
be retained in the branch in a separate file.
• The keys should be placed in a cloth cover along with the list and the Branch Manager and other 
authorized signatories (BOM/BCM) should sign across the flap and seal the envelope.
Classification: Internal - Non - Shareable
For internal circulation only 
21
• The sealed envelopes should be supported by a lodgment letter clearly indicating authority/ 
name of the person(s) designated to withdraw the keys (BM/BCM/BOM – in combination of two 
as mentioned in previous slide).
• These should be addressed to the branch/ bank where the keys are to be lodged.
• The sealed envelope containing the duplicate keys should be sent through an on-role employee 
for lodgment with another branch/ bank.
• An acknowledgement from BM/BOM where the packet is lodged should be kept in the custody 
of BM of the branch.
10.3 Withdrawal of duplicate keys
The request for withdrawal of duplicate keys should be made in writing to the Branch Manager/BOM holding 
the duplicate keys.
Duplicate keys may be withdrawn for following reasons:
• Carrying out exchange/ swapping of the keys currently in use (at an interval of 6 months).
• In case of emergency viz. loss of key.
• Key custodian not being able to hand over the keys.
• For audit purposes.
▪ The purpose for withdrawal of duplicate set of keys should be clearly mentioned in the key 
movement register.
▪ The withdrawal letter should be signed by the authorized signatory whose specimen signatures are 
already lodged with the branch/ Bank with whom the duplicate keys have been lodged.
▪ The keys should be collected by the authorized persons (BM/BOM/BCM) from the branch/ bank 
where they were lodged. 
In case the keys are collected by a bearer other than authorized persons, his/ her signature should be 
noted in the request letter for withdrawal signed by the Branch Manager.
The sealed envelope containing duplicate keys should be opened in the presence of both the custodians 
and the Branch Manager.
Keys should be re-lodged, as far as possible, on the same day after the purpose of withdrawal is 
accomplished.
10.4 Record of keys
The keys should be bunched as SET 1 and SET 2 based on the keys held by custodian 1 and custodian 2. 
Classification: Internal - Non - Shareable
For internal circulation only 
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Key movement register should record the relevant details of the keys in SET 1 and SET 2 viz. keys number, 
nature of keys, name of the holder, signature of the holder, etc. This would facilitate recording movement of 
frequently exchanged keys amongst the custodians.
Care and Precautions
Any overwriting/ cancellation in the register should be avoided, in case need be fresh entry, authenticated 
by signature(s) be made to rectify any erroneous recording.
Avoid use of correcting fluid to rectify an error.
Keys should always be carried in person and should not be left in desk drawers or other places in the branch.
After office hours, the keys should be retained in a secure place by the custodian but not in the branch 
premises.
Information regarding the custody of keys should not be divulged to any other person inside or outside the 
bank.
In the case of combo branch, the MBL vault position should be independent from vaults of other verticals 
and there should not be any inter-dependency in accessing/operating the respective vaults.
Handing over of keys
The following situation may require handing over of the keys by the custodian:
▪ The custodian is proceeding on leave.
▪ Taking Unplanned leave.
▪ Transfer of the staff (custodian) to another branch/ department.
▪ Internal change of job-responsibilities within the branch.
▪ Staff leaving the services of the Bank.
Branch Manager should ensure that all the keys are handed over to the new custodian and duly 
acknowledged by the new custodian and signed off in the key movement register before any employee 
proceeds on leave/ transferred/ relieved. 
The following procedure should be followed:
✓ The date of handover and name of the new custodian should be entered in the key movement 
register for every key handover.
✓ The new custodian should sign off the key movement register against the entry as acknowledgement 
of receipt of keys under presence of BM.
✓ It is mandatory for both custodians to visit vault at each handover. It must be ensured that the 
person taking over charge has taken stock of physical cash as well as secured stationery inside the 
vault.
Classification: Internal - Non - Shareable
For internal circulation only 
23
✓ Custodians entrusted with vault keys should always take proper care of the keys. It is to be ensured 
that the vault is always under dual control and the keys are not handed over or made accessible to 
any unauthorized person.
In case of handover of keys to any person other than who is authorized should be done after approval from 
the State Operations Managers/Cluster Manager only.
In the absence of any of the key custodians, any one of authorized personnels can operate the vault single 
handedly by using both the keys. This would be noted and approved by PH/ZOM. The vault will be operated 
via dual key operation only at SOD and EOD. All operations during the day can be done by one key 
custodian.
In case, other BIUs are also operating from MBL branches, and a particular branch needs to be kept open for 
their business-related activities or MBL team leaving early; the branch key to be handed over to the 
concerned BIU team and the same to be updated in key movement register. In no scenario, branches are to 
be opened beyond designated timelines, unless approved by ZH of respective vertical (Ex: In case HL want to 
work later, respective ZH to approve) and AOM to be in loop on all approvals for tracking and monitoring.
If the custodian is unable to come to branch for hand over due to unavoidable reason/ circumstances, 
following procedure needs to be followed:
▪ Handing over person should intimate his supervisor immediately if he is not able to come in 
branch due any reason.
▪ The handing over person should pack his SET of keys in a sealed envelope and should 
handover the same to a person to whom he/she is authorizing for submission.
▪ An authorized person should be accompanied by an authorization letter.
▪ Taking over person should give a line of confirmation on an authorization letter that he has 
received keys in sealed packed condition and all keys are in place as per both Key Movement 
Registers.
▪ After confirmation, noting should be done in both Key Movement Registers also and register 
should be updated with a proper noting regarding process followed in the case.
▪ Branch should maintain a separate file for such authorization letter for audit purpose. 
▪ Loss of Keys 
The following steps should be initiated in case of loss of keys reported by any of the key custodians:
❑ Loss of keys should immediately be reported to Branch Manager, Cluster manager and Regional 
Operations by the BM and BOM.
❑ FIR should be lodged with the Police at the nearest station by the branch manager under guidance of 
cluster manager. 
❑ The branch manager should arrange for a changing of the locks in co-ordination with the facilities
team.
Classification: Internal - Non - Shareable
For internal circulation only 
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❑ Security should be alerted to note any employee/ person opening the vault after office hours and 
take appropriate precautions.
❑ The vault should be opened by the duplicate keys withdrawn from the branch/ bank where it is kept 
in safe custody.
Monitoring
Branch Manager/Cluster Manager should ensure the following:
• Carry out monthly review of key movement register.
• Duplicate keys are lodged in off-site locations and acknowledgement held on file.
• Keys in use and duplicate keys are swapped for use once in twelve months with the approval of 
Regional Ops manager / Regional Manager.
• This will ensure that both sets are used and wear and tear of one set only is not done.
Key Movement Register format
Key Movement Register
Date of 
Movement
Time of 
Movement
Name of 
the 
Custodian 
handing 
over
Name of 
the 
Custodian 
handing 
over 
charge
Name of 
the 
Custodian 
taking 
over
Contents 
Checked
Signature 
of 
Custodian 
taking 
over 
charge
Initial of 
DBM/BM
Remarks/Reason 
for Change
11.
Sales Officer & Collection Executive onboarding process
Sales Officers/collection Executives are in the pay role of IDFC FIRST BHARAT LTD. (subsidiary of IDFC FIRST 
Bank) and are responsible for promoting or selling the financial products and services of the Bank in the open 
market. Team of sales officers is supervised by sales managers/ Sales Team leader (STL).
• Applicants for the role of Sales Officer/Collection Executive can directly approach the sales team or can be 
referred by the existing Sales Officer/Sales Team Leader/Branch Sales Manager/Branch Manager.
• Branch Sales Manager/STL of IDFC FIRST Bank reviews the applications.
• Post reviewing and screening of applications based on the job requirement and skill set; eligible candidates 
are called for the interview.
• Branch Sales Manager/Branch Manager conducts the interview and shortlists the candidates.
• Shortlisted candidates submit the required documents to the Branch Manager/Branch Sales Manager.
• BSM/BM fill in the Master Template file of joining kit which includes new joiner information and share 
with onboarding team of IFBL to review it.
• IFBL HR also checks the CIBIL Score of the candidate where a minimum cutoff of 600 is required.
• IFBL team send an e-mail to candidate with login details credentials and link to upload documents.
• Candidates upload the necessary document and information on the portal and IFBL team checks it on daily 
basis. In case of any pending document IFBL team informs candidate through email. Candidates receive 
Classification: Internal - Non - Shareable
For internal circulation only 
25
an update through e-mail and or SMS for any rejection. In case of any documents pending then candidate 
must submit the same in provided link.
• Post review of documents and information, IFBL team send CTC approval request to Product Manager.
• Product Manager approve CTC basis on approved salary grid.
• Post PM approval, offer letters are released by the IFBL HR team to candidate email id with CC to LM.
• Post release of Offer Letter, IFBL HR team to initiate Background verification of the candidate:
• Documents are sent to BGV vendor through operating partner portal.
o IFBL Applicant form.
o Letter of authorization.
o PAN card copy.
o Aadhaar card copy.
o Previous employment relieving Letter /pay-slips/ service certificate.
o Relevant Qualification mark sheet & certificate.
• BGV vendor checks on the following:
o Criminal records- Pre-appointment letter.
o Residence verification – Post appointment letter.
o Employment verification- Post appointment letter.
o Education records- Post appointment letter.
• BGV vendor to submit the Verification report to IFBL HR team.
• Once all documents are verified and Partial BGV clearance (Address and Court records) is received, IFBL 
HR team will send a consolidated list of such cases to PM for approval to release appointment letter.
• Post approval, appointment letters along with Temporary ID card with validity of 15 days are emailed to 
the candidates on their personal email ID with a copy to respective supervisor.
• BM/BSM takes a printout of the same and the acknowledged scan copy of the appointment letter 
submitted to HR team within 2 working days.
12. Resignation/Separation of Sales Officer/Collection Executives on the role of IFBL 
• In case of resignation of the employees on the IFBL role, they need to submit their resignation through 
mail or hard copy to their line manager.
• All the employees in the IFBL role are required to serve the notice period as per the notice period 
mentioned on the appointment letter. Notice period can be waived off by PH.
• On the receipt of the resignation, line manager needs to share the following details in tabular format to 
their respective Regional Head for their approval:
o Employee No
o Name
o Line Manager Name
o Date of resignation
o Last Working Date
o Reason for exit
o Notice Period shortfall days
o Notice Period waived off: Yes/No
o Recovery Deduction (if any)
o Clearance status
• Once RH approves the resignation details, it should be forwarded to IFBL HR at <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS>. 
• IFBL team process resignation.
• In case of absconding IFBL employee following steps to be followed by line manager:
Classification: Internal - Non - Shareable
For internal circulation only 
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Day 1: Contact the employee through phone / mobile on the first day of his unauthorized absence.
Day 2: In case of no response, on the second day please write to the employee’s e-mail id that line manager 
is trying to contact him from (date), but there has been no response.
Day 3: Follow up on email. If employee still does not respond to the follow up mail, then the employee to be 
tagged as absconding and inform the same to the IFBL HR.
Day 4: Attach the email/communication that line manager has sent to the employee with Regional Head 
approval and send it to IFBL HR at <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> with the below details in tabular format.
• Employee No
• Name
• Line Manager Name
• Date of resignation
• Last Working Date
• Reason for exit
• Notice Period shortfall days
• Notice Period waived off: Yes/No
• Recovery Deduction (if any)
• Clearance status
IFBL HR will take further action post receipt of the above information.
13. Incentive Structure for the sales team and the payout mechanism
1 – Normal Incentives
• The incentive structure for the sales team is rolled out at the beginning of the quarter.
• The Product Manager calculates the incentive and puts up for approval to Product Head/Business Head 
(as applicable).
• Post approval the same is shared with the HR for the release of the incentives.
• Incentives are released in the 1
st month of the next quarter based on individual/team performance.
 
❖ Members covered for incentive:
1. Sales Managers (SMs).
2. Branch Manager (BMs).
3. Cluster Heads (CHs).
4. Regional Heads (RHs).
❖ Score card parameters for Sales Managers (SM):
1. Disbursal volume.
2. Collection efficiency.
3. Cross sell (TPD premium).
4. Productive SOs.
❖ Score card parameters for Branch Managers (BM):
1. Disbursal volume.
2. Collection efficiency.
3. IRR.
4. SO productivity.
❖ Score card parameters for Cluster Heads/State Heads:
1. Disbursal volume.
2. Weighted IRR.
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3. Collection efficiency.
4. SO COA.
❖ Score card parameters for Regional Head:
1. Disbursal volume.
2. Collection efficiency.
3. SO COA.
4. SO productivity.
Based on the score card, certain up to 90% of the CTC can be released as an Incentive payout. A minimum 
benchmark is also kept for achieving incentive.
❖ Incentive structure for SO:
Incentive calculation for SO happens monthly and is released on monthly basis. There is a separate 
incentive slab for the SO for both secured and un-secured loans. Incentive parameters are based on the 
number of files disbursed/login as well as the volume of login/disbursed cases. This varies based on the 
business requirements. Central OPS team to calculate SO/TL monthly incentives and Product team to 
check the same. Separate detailed process is maintained in OPS team record.
❖ First Step (Micro Business Loan) STEP UP DST/TL Promotion Program is introduced to reward 
top achievers’ basis the parameters agreed and approved by Business Head and HR from time 
to time.
14. Sales One Application
 Sales One App is used by our sales team for many purposes which are as follows:
1) Manage Attendance: SO can apply for leave and can manage attendance.
Classification: Internal - Non - Shareable
For internal circulation only 
28
2) Generate Lead: SO can create a lead & can caption it as Hot/Warm/Cold.
Classification: Internal - Non - Shareable
For internal circulation only 
29
3) View Leads: SO can update the status of existing leads in SO App and view leads assigned to him/her
or created by him/her.
Classification: Internal - Non - Shareable
For internal circulation only 
30
4) Create Loan: Onboarding of customer through SO App.
1. OTP Verification:
Dear Customer, To proceed with your loan application with IDFC FIRST Bank, OTP needs to be 
entered. By sharing the OTP, you are hereby agreeing to the terms and conditions, available here 
https://idfcfir.st/00kf7c OTP to be entered is 536438
Classification: Internal - Non - Shareable
For internal circulation only 
31
2. Capturing of KYC:
3. EKYC, CKYC Workflow: -
Classification: Internal - Non - Shareable
For internal circulation only 
32
4. Capturing primary details of Applicant/Co-applicant:
Classification: Internal - Non - Shareable
For internal circulation only 
33
5. Performance and Incentive Dashboard: Sales Officer can view his performance and rank for 
current as well as previous month on SO App.
6. Geo-Fencing: Distance is captured from the location of lead creation and branch to which Sales 
Officer is mapped to.
• SO can mark attendance only in assigned pin codes.
• SO can create Lead/Loan in assigned pin codes only.
7. Perfios: SO can upload the bank statements on SO App to get the indicative eligibility and 
customer tier upfront.
Classification: Internal - Non - Shareable
For internal circulation only 
34
8. Smart Sell
Smart Sell on SO App is a feature introduced to send customized digital marketing available for 
different MBL Persona’s. Smart Sell helps salespeople across the sales cycle - to quickly and 
easily understand, show, or share marketing collateral.
Note: Digital flow is dynamic and evolving and may change as per the requirement and better available 
solutions. BRD for all digital solutions is prepared and necessary approvals are taken from stakeholders.
14.Risk Registers:
SN Risk Description Risk Owner Control Description Control Owner
1 Incorrect incentive and 
billing calculations may 
lead to excess pay out 
to employees/ Sales 
Officer/vendor
resulting in loss to the 
bank.
Business Incentives for off-role staff (SO) are 
calculated and reviewed by the maker – Ops 
team and checker - product team. The 
Product Head approved the incentives if the 
budget falls under his approval limit. In case, 
the incentive amount is above the approval 
limit of Product Head or in absence of 
Product team
Classification: Internal - Non - Shareable
For internal circulation only 
35
SN Risk Description Risk Owner Control Description Control Owner
Product Head, it can be approved by 
Business Head.
For on-role staff (BM/RM/Cluster Head/ 
Regional Head), Product Manager calculates 
the incentive and puts up for approval to 
Product Head/Business Head (as applicable). 
Post approval from Business Head/product 
Head it is sent to the respective HR (IFBL HR 
for SO and Bank HR for others) for 
processing. 
Incentives are released in the 1st month of 
the next quarter based on individual/team 
performance
2 Recruitment of Sales 
Officer / Collection 
Executive without
background 
verification checks like 
CIBIL, FCU, wherever 
required, etc.
Business All the employees who are not on the payroll
of IDFC FIRST Bank are in the role of IFBL. 
Necessary due diligence (CIBIL, BGV) as per 
the IFBL HR Policy is done before the 
onboarding of any such employee.
Product team.
3 Loss of customer 
documents (including 
Property Papers) 
before sending to 
Central Operations / 
Branch Credit Manager
/ in transit by vendor 
or bank staff will lead 
to customer 
grievances.
Business All the customer documents / property 
documents are submitted by the customer at 
the branch to the Sales Manager. 
BOM / BCM takes care of property papers and 
the same is dispatched to central RMU by 
BOM only. In case BOM is not available in 
branch then BCM to take care.
Other customer documents are handled by 
the operations team and sent across to the 
Central team for storage. Sales officers are 
not allowed to handle the property 
documents of customers.
Each document received from customer 
should be recorded in system and matched 
with LSR.
Business/ 
Operations
4 Deactivation of EnCollect Id not done / 
done with delay for 
Business In case of any absence of any collection 
executive without prior notification to 
Branch Manager for more than 3 working 
Business
Classification: Internal - Non - Shareable
For internal circulation only 
36
SN Risk Description Risk Owner Control Description Control Owner
Collection Executives
may lead to 
unauthorized usage 
resulting in loss to 
Bank and customer 
grievances.
day, Branch Manager will notify the 
collection team to deactivate the En Collect 
ID along with the reporting to the IFBL HR 
Team.
5 Lack of adequate 
control over vault 
(Collections cash and 
property paper 
management) and key 
management will lead 
to loss and 
accountability not 
being fixed.
Business Vault keys are under dual custodian and a 
register maintained for the items stored in 
vault. Any movement of the items in or out 
of the vault will be in the presence of the 
custodians of the vault keys and the same is 
updated on the register.
Operations
6 E signature not 
obtained on all pages 
before stamping / 
documents 
inadequately stamped.
Business The system is built in such a way that first we 
need to do ESTAMP first and then ESIGN on 
SO App. Also, once ESIGN is successful, the 
signature will appear in all the pages in 
footer and no page will be left without ESIGN 
for applicant/co-applicant(s).
Operations
7 E stamping charges not 
recovered from the 
customer.
Business Once E STAMP is successful, then ‘Maker’ will 
have to mandatorily enter the total stamp 
duty amount in FinnOne at PDOC stage, this is
again checked at D2 stage by checker. E 
stamping charges are part of Ops checklist.
Operations
8 Multiple Estamp 
payment could lead to 
financial implications.
Business Validation is built in SFDC wherein SO cannot
reinitiate E-stamp process for existing loans.
In case of any changes in loan 
parameter/application-level changes which 
has direct impact on agreement case is 
returned in SFDC and in that case physical 
stamping procedure is initiated and e-stamp 
will not happen (Only physical stamping 
charges will be borne).
Operations
9 Customer data 
compromised due to 
rejected files are not 
shredded.
Business Branch Ops manager maintains a tracking of 
rejected cases and files are shredded after 90 
days. The central ops team also inspects the 
same and takes a report of the same from 
Branch Ops Manager on regular frequency. 
This check is also part of branch selfOperations
Classification: Internal - Non - Shareable
For internal circulation only 
37
SN Risk Description Risk Owner Control Description Control Owner
assessment tool which is done at a monthly 
basis.
10 Non reconciliation of 
cash at End of the day 
may lead to cash 
shortages / excesses.
Business At the end of the day Branch Operation 
manager create the Batches in SFDC for all the 
cash collected / receipts issues in entire day 
and tally the amount and keep in the safe 
custody If the pickup for the day has already 
been done and cash collected needs to be 
stored overnight.
Operations
11 Cash collection 
exceeding 50 k from a 
customer without PAN 
will result in nonadherence to 
regulatory norms.
Business For all cash payments of INR 50000/- and 
greater the PAN Card number of the 
customer or the person making the payment 
(3rd party settlement) is required and should 
be mentioned in En-collect/Smart collect app 
or web version while cutting the receipt. App 
is built in a way that without PAN details 
receipt will not cut.
Operations
12
Non monitoring of cash 
in vault being more 
than the branch 
insurance limit may 
lead to issues.
Business We have sufficient insurance for MBL 
branches, and this will be tracked quarterly 
and in case of excess case we can increase the 
insurance cover if required.
Operations
13 Improper due diligence 
and required 
verifications (CPV, RCU,
TVR, valuation, PD, 
CIBIL) not performed 
may lead to customer 
onboarded not filing 
the required criteria.
Business 1. FICO engine decides verification as per the 
policy.
2. As all FI are done through FI App, location 
is captured through GPS of mobile which will 
be a control activity.
3. Further, the system initiates the cases for 
CPV to the empaneled agencies. The agencies 
conduct their activities as per allocation and 
submit their reports as per their SLA which is 
reviewed by the credit underwriting team. No 
TVR in MBL, all PD takes place by BCM, 
external agency role is limited to CPV, Vetting, 
legal, RCU check, valuation (depends on 
scheme code).
4. Underwriter checks the verification,
dedupe, income and banking details and 
Credit
Classification: Internal - Non - Shareable
For internal circulation only 
38
SN Risk Description Risk Owner Control Description Control Owner
accordingly decisions cases as per policy and 
process.
5. Monthly hindsight review of decisioned 
cases to check adherence to policy and 
processes as per defined sampling criteria.
14 Title is not clear/ 
encumbered of the 
property being 
mortgaged.
Business For quasi secured cases the scope of legal is 
limited to confirming the current title from 
available documents, original verification and 
search if required. For fully secured cases the 
scope of legal is extensive and cases are 
considered basis on positive legal opinion. In 
case of any deviation, it is signed off as per 
legal deviation matrix applicable to other 
mortgage products.
Credit
15 Inadequate valuation 
of the property being 
mortgaged.
Business For quasi cases there is no property value 
threshold though teams are advised to assess
approximate property value of during 
collateral visit and decide loan amount 
accordingly. For fully secured cases valuation 
is done by empaneled agency following our 
SOPs.
Credit
16 Incorrect PSL 
classification.
Business PSL classification is done based on the 
Udyam Registration Certificate received from 
the customer.
Quality checks will be performed on a 
monthly basis. PSL classification logic has 
been built in system which covers all industry 
type as mentioned by RBI guidelines on PSL.
Operations
17 Incorrect update of 
receipt of PDD 
document or miss out 
in checking the Legal 
vetting & RCU 
confirmation may lead 
to customer issues.
Business BOM/BCM marked all PDD entry of property 
papers in system before disbursement. PDD 
tracking and deviation policy is same across 
mortgage product, BOM/BCM sends all the 
documents as per legal, vetting report to 
Central operations team. The Central 
operations team receives the same and 
update records.
Operations
Classification: Internal - Non - Shareable
For internal circulation only 
39
SN Risk Description Risk Owner Control Description Control Owner
18 Inappropriate D2 
access could lead to 
unauthorized 
approvals.
Business D-2 Rights are given to authorized users of
MBL branches who are on the pay roll of Bank 
post training and conducting tests for these 
employees. Rights are restricted to the user 
as per his location and product only. 
Activation and deactivation of ID are 
managed through UAM team of the bank. As 
per UAM process, periodic reviews are 
conducted through system by reporting 
authorities.
Operations/ 
Business
19 Incorrect data entry 
during QDE/DDE stage 
may lead to incorrect 
details being updated.
Business BOM/CPA to verify all the details entered by 
SO at the time of login. In case of any 
discrepancy, highlight it to the respective 
Sales Manager (SM). SM to rectify/resolve the 
highlighted discrepancies.
Operations/ 
Business
Classification: Internal - Non - Shareable
For internal circulation only 
40
Annexure 1
1. Format of Negative Lien as applicable for Quasi Secured Loan:
Negative Lien 
Agreement - IDFC FIRST Bank.docx
2. Technical related details:
a) Approved Technical SOP for other secured loans which will be applicable for Micro LAP as well: 
Technical-SOP-V3-2
9-06-20.pdf
b) Approved Technical Report format (both pdf and word doc format attached for ready reference):
IDFC First 
Bank-Valuation Report Format( With Declaration).pdf
 
IDFC First 
Bank-Valuation Report Format.docx
c) Desktop Valuation Format:
Desktop valuation 
format-MBL.pdf
3. Legal related details:
a) Approved Legal SOP for other secured loans which will be applicable for Micro Lap as well: 
SOP-Legal-V3-29-06
-20.pdf
b) Approved Legal Report formats (both pdf and word doc format attached for ready reference):
TCR-Revised.pdf TCR-Revised.doc TSR-Revised -NON 
BT.pdf
TSR-Revised -NON 
BT.doc
Classification: Internal - Non - Shareable
For internal circulation only 
41
c) Legal Deviation Matrix for other secured loans which now will be applicable for Micro Lap as 
well:
Legal Deviation 
Matrix.pdf
4. Filling Instruction - MODTD 
The format for MODT / RM and registration of MODT will be as per state laws or as prescribed by respective 
SROs. Where the same is not mandated, the format of MODT to be used is as follows. 
New MODT 
Specimen.pdf
New MODT 
Format.DOCX
Please Note: Any changes in format in mortgages will be replicated in Micro LAP on an ongoing basis.
5. Instrument Cancellation Process
Instrument 
Cancellation Process.pdf please summarize each content in best possible manner covers everythings