S No Parameter Policy description

GST Surrogate
1 Loan Type Business loans
Business loans

· As per Approved
· As per
2 Locations Approved Location
Location list
list

· SENP and SEP

· SENP and SEP (Self-
3 Scope (Self-employed and
employed and Self-
Self-employed
employed professionals)
professionals)

· Proprietorship · Proprietorship
Entities Entities

· Registered/Non- · Registered/Non-
Registered Partnership Registered
Firms Partnership Firms

4 Constitution · Limited Liability · Limited Liability

Partnership firms Partnership firms

· Private Limited · Private Limited

Companies Companies

· Closely held
· Closely held Public
Public Limited (not
Limited (not listed)
listed)

· Manufacturing,
· Manufacturing,
5 Business Type Trading – wholesale,
Trading – wholesale,
Trading – Retail,
Trading – Retail, Services
Services

6 Sourcing channels · All sourcing · All sourcing

channels channels

· Business · Business
7 End Use development, working development,
capital working capital

8 Repayment Type · EMI – Monthly · EMI – Monthly

Repayment Repayment

9 Loan Amount · Min 5 Lakhs; Max 30 · Min 5 Lakhs; Max

Lakhs 20 Lakhs
9 Loan Amount · Min 5 Lakhs; Max 30 · Min 5 Lakhs; Max
Lakhs 20 Lakhs

· Min: 12 Months; Max: · Min: 12 Months;

10 Tenor 36 Months (in intervals of 6 Max: 24 Months (in
months) intervals of 6 months)

11 Turnover · Min 3 Crore; Max 100 · Min 2 Crore; Max

Crores 100 Crores

12 Business Vintage · 3 years · 3 years

· Residence Stability: · Residence

12 Months Stability: 12 Months

13 Stability
· Business Stability: · Business
12 Months Stability: 12 Months

· To be verified · To be verified
through CPV / PD through CPV / PD

· Growing Business
· No Drop in Sales
i.e., 5% growth in
as per last 24
revenue as per latest
months GST Data
financials available

· Net worth and PAT · Net worth and

14 Financials to be Positive as per PAT to be Positive as
latest financials. per latest financials.
 14 Financials

· Minimum 6 months
gap in filing between NA
latest 2 years ITR

15 Max Unsecured Exposure

· Max 10 Unsecured · Max 10 Unsecured

16 No of Unsecured Loans loan allowed. i.e., We can loan allowed. i.e., We
be max 11th lender can be max 11th lender

· Minimum risk rating

of 50 required (ML
Score)
17 Internal Risk Rating

· < 50 is not allowed

· Min: 25 years;
· Min: 25 years; Max:
Max: 65 years
65 years (including
(including proposed
proposed tenor)
tenor)

· For Proprietors Age

18 Age > 60, business heir / next
generation to be verified · For Proprietors Age
and/or collected as co- > 60, business heir /
applicant. next generation to be
verified and/or collected
as co-applicant
· Applicable to All
Individual Applicant /
Co-applicants

· As per the list of · As per the

Documents Document Policy
 · KYC (ID & Address · KYC (ID &
Proofs) Address Proofs)

· Business Proof · Business Proof

19 KYC & Document Policy

· Ownership
· Ownership Proof
Proof

· 12 Months
· 12 Months Banking
Banking

· 12 Months GSTR · GST Registration

documents Certificate

· 3 Years Audited
Financials, 3 years Tax
Audit report / ITR with
Annexures.
· 24 Months GSTR 3B
· Provisional financials, documents
Cases logged in after July
should have mandatorily
provisional of last financial
year

· Co Applicant spouse · Co Applicant

to be collected for all spouse to be collected
Proprietorship entities. for all Proprietorship
entities.

· In case spouse is
· In case spouse is not not available or
available or exceeds age exceeds age norms,
norms, immediate family immediate family
members can be collected members can be
as Co applicants. collected as Co
applicants.
 · Immediate family · Immediate family
members are Father, members are Father,
Mother, Spouse, Son, Mother, Spouse, Son,
Unmarried Daughter Unmarried Daughter

· 100% partners to be · 100% partners to

collected as co-applicants be collected as co-
for Partnership firms. applicants for
Partnership firms.

20 Co-Applicants · 51% of
· 51% of shareholders
to be collected as co- shareholders to be
applicants for Pvt ltd / collected as co-
Closely held Pub Ltd firms applicants for Pvt ltd /
(unlisted) Closely held Pub Ltd
firms (unlisted)

· Personal
· Personal Guarantee Guarantee of
of Managing Director and Managing Director and
shareholders holding more shareholders holding
than 20% stake in the more than 20% stake
company for all Pvt ltd / in the company for all
Closely held Pub Ltd firms Pvt ltd / Closely held
(unlisted) Pub Ltd firms (unlisted)

· Entities cannot be
· Entities cannot be collected as Co-
collected as Co-applicants. applicants.

· Applicant / Co- · Co-applicants can

applicants can be Indian be Indian Residents
Residents only only

· Trans Union (CIBIL) · Trans Union

Consumer bureau version (CIBIL) Consumer
3 to be considered, cut off bureau version 3 to be
650. considered, cut off 650

· NTC / No Score (0, -1 · NTC / No Score

or 1 to 5) to be allowed as (0, -1 or 1 to 5) to be
per Product details allowed as per Product
21 Bureau policy details

· No Deviation allowed · No Deviation

for CIBIL Score 6 to 650, allowed for CIBIL Score
(>=6 - <=650: NoGo) 6 to 650, (>=6 - <=650:
NoGo)

· Guarantor / Joint
· Guarantor / Joint trade line derogatory
trade line derogatory details can be omitted
details can be omitted with with proper
proper justification justification

22 Bureau Derogatory Policy · As per Annexure · As per Annexure

 · At least 1 own
· At least 1 own
property in the name
property in the name of
of the borrower or
the borrower or the co-
the co-applicant or
applicant or immediate
immediate family
family member of the
member of the co-
co-applicant.
applicant.

· Immediate
· Immediate family
family members
members mean – father,
mean – father,
mother, Spouse, Son,
mother, Spouse, Son,
Unmarried Daughter
Unmarried Daughter

· It may be a · It may be a
residential or a residential or a
commercial property commercial property
currently owned. currently owned.

· It may be self- · It may be self-

occupied or let-out. occupied or let-out.

23 Own Property
· Property should
· Property should be
be available at
available in Operating
Operating Business
Business location only.
location

· Rented Residence · Rented

cum office is NOT Residence cum office
allowed. is NOT allowed.

· Both Rented
· Both Rented Profiles with 3 years
Profiles: Max Loan Business Vintage:
amount to be capped at Max Loan amount to
10 Lakhs & CPV of be capped at 10
Permanent address to Lakhs & CPV of
be verified. Permanent address
to be verified.
 · Owned RCO: Max Loan Owned RCO: Max Loan
amount to be capped at 10 amount to be capped at
Lakhs 10 Lakhs

· 12 Months
· 12 Months Current
Current account
account bank statement
bank statement
required.
required.

· Overdraft / Cash
· Overdraft / Cash
credit accounts are
credit accounts are
allowed as per
allowed as per method.
method.

· Saving account
· Saving account
statements can be
statements can be
considered provided
considered provided
business
business transactions
transactions are
are observed for sole
observed for sole
proprietorship.
proprietorship.

· Clubbing of banking · Clubbing of

is allowed of same banking is allowed of
business. same business.

· Group company
· Group company /
/ Sister concerns
Sister concerns accounts
accounts clubbing is
clubbing is not allowed.
not allowed.
23 Banking Requirements

· Short banking can · Short banking

be clubbed with other can be clubbed with
accounts with proper other accounts with
justification. proper justification.

· Loan deposits,
· Loan deposits, Interest
Interest credits, non-
credits, non-business-
business-related
related transactions, Group
transactions, Group
entity transfers to be
entity transfers to be
deducted while considering
deducted while
banking
considering banking
 · Loan deposits,
· Loan deposits, Interest
Interest credits, non-
credits, non-business-
business-related
related transactions, Group
transactions, Group
entity transfers to be
entity transfers to be
deducted while considering
deducted while
banking
considering banking

Banking Turnover · Minimum 80%

of BTO
· Minimum 80% of BTO
24 i.e., Total Effective Credits
versus Top line · i.e., Total
Effective Credits
versus Top line

25 Minimum Credits per Month

· TOL/ATNW <= 4 for

26 Leverage manufacturing and 5 for NA
Trading

· Debtor days <= 120

days for manufacturing NA
& 90 days for trading

· Inventory days <=

120 days for
manufacturing & 60 NA
days for trading
27 Guiding Financial Ratios
· Cash cycle <= 180
days for manufacturing NA
& days for traders

· Term Debt/ EBITDA

<= 4 NA

· Above ratios are

Guiding principles only. NA
 · Not more than 2% · Not more than
in of Total cheque issued 2% in of Total
(or) cheque issued (or)
28 Inward Cheque Returns
· Not more than 5 in · Not more than 5
last 6 months whichever in last 6 months
is higher whichever is higher

29 Outward Cheque Returns · Not more than 7% in · Not more than 7%

last 12 months in last 12 months

· 1 EMI bounces
· 1 EMI bounces due
due to insufficient
to insufficient funds in
funds in last 3
last 3 months are
months are allowed
allowed and same must
and same must be
be paid within 8 days of
paid within 8 days of
due date.
due date.

· Overall, not
· Overall, not more more than 3 Emi
30 EMI Returns than 3 Emi bounces bounces allowed in
allowed in last 6 months last 6 months due to
due to insufficient funds insufficient funds
and to be repaid within and to be repaid
8 days with sufficient within 8 days with
mitigations. sufficient
mitigations.

· Technical
· Technical bounces
bounces to be
to be excluded and must
excluded and must
be justified in credit
be justified in credit
appraisal.
appraisal.

· Interest service
· Interest service in
in first 10 days (not
first 10 days (not more
more than 3
than 3 instances in last
instances in last 12
12 months of late
months of late
servicing)
31 OD / CC Performance servicing)

· No
· No overutilization in
overutilization in last
last 6 months (Not more
6 months (Not more
than 95%)
than 95%)

HRP - High Risk Profiles · As per Standard · As per Standard

32
(Negative Industry list) Policy Policy
 HRA - High Risk Area · As per Standard · As per Standard
33
(Negative) Policy Policy

34 OGL – Out of Geo limits · As per Standard · As per Standard

Policy Policy
· Mandatory for all · Mandatory for
Co-Applicants all Co-Applicants

35 Residence CPV
· Mandatory at
Business / Office
premises

· Mandatory at · Mandatory at
Business / Office Business / Office
premises premises visit report

37 Business / Office CPV

· In case
· In case Operating Operating business /
business / manufacturing unit is
manufacturing unit is different, in that
different, in that case case CPV to be
CPV to be conducted for conducted for those
those premises – basis premises – basis
Local credit decision Local credit decision
optionally optionally

· For Loan amounts 1 · For Loan

Lakh to 5 Lakhs – Video amounts 1 Lakh to 5
PD Lakhs – Video PD

· For Loan
· For Loan amount >
38 Business Discussion amount > 5 Lakhs -
5 Lakhs - Physical PD by
Business premises
Credit
visit by Credit

· Photos with
· Photos with Name
Name board and
board and activity to be
activity to be
documented
documented
 · RIU verification · RIU verification
39 RIU Mandatory for all Mandatory for all
documents documents

40 References
NA

· Consumer CIBIL of · Consumer CIBIL

all promoters and PG of all promoters and
provider PG provider

· Commercial
· Commercial CIBIL of
CIBIL of borrowing
borrowing entity and
entity and group
group entities other
entities other than
than proprietorship
proprietorship
entities
entities

· Negative country · Negative

list country list

· PF Check · PF Check

· CA Membership · CA Membership
Check Check

Hygiene Check / Online

41
Verifications · MCA / ROC
· MCA / ROC check
check (Insta
(Insta financials etc.)
financials etc.)

· PAN Number
· PAN Number check
check
· India Kanoon
· India Kanoon Check
Check
· RBI Defaulter
· RBI Defaulter list
list

· Political
· Political exposure
exposure check (My
check (My Neta etc.)
Neta etc.)
 · GSTR to be
· GSTR to be verified;
verified; No dues
No dues should be
should be available
available (except for last
(except for last 3
3 months from login
months from login
date
date

· Commercial CIBIL · Commercial

Score: CMR 1 to 8 CIBIL Score: CMR 1
allowed to 8 allowed

· CMR 9 & CMR

· CMR 9 & CMR 10:
10: NoGo / Not
NoGo / Not allowed
allowed

· Commercial
· Commercial CIBIL
CIBIL will be
will be applicable for all
applicable for all
Entities except for
Entities except for
Proprietorship cases
Proprietorship cases
42 Commercial CIBIL

· Group
entities / Sister
· Group entities / concerns
Sister concerns commercial cibil
commercial cibil is also is also
applicable to other than applicable to
Proprietorship entities. other than
Proprietorship
entities.

· Post Funding DSCR

should be Minimum 1 NA

Debt Service Coverage Ratio · DSCR to be

43
(DSCR) calculated based on the
latest financials and
current obligation NA
including EMI of
Proposed Loan.

Following are to be
considered as part of NA
obligation:
 · EMI of all term
loans in the name of
applicant entity. In case
of latest disbursed loan
which is not reflected in NA
CIBIL, tentative EMI to
be obligated, if sanction
letter is not available.

· Loan getting closed

in next 3 months need NA
not be obligated.

· EMIs of loans in the

name of
Calculation of Obligation for Director/Partner to be
44 obligated only in cases
DSCR NA
where EMI is been
debited from
Company’s/Firm’s/LLP’s
Bank Account.

· In Case of Sole
Proprietorship all Loans
of Proprietor to be NA
obligated.

· EMI of the Ashv

proposed loan to be NA
obligated.

· For overdraft
facilities, average of the
interest charged over NA
last 6 months on the
OD/CC account.

· For drop-line-
overdrafts, 5% of the
limit or actual if NA
available.

· EBITDA-tax-Other
Income NA

45 Income
 · Any other incomes
45 Income like Partner / Director
remuneration / Interest
to partners etc or non- NA
business or non-
recurring incomes are
not to be considered
 Banking Surrogate
Cluster loans Micro Business Loan Gati Loans
loans

· As per · As per · As per · As per

Approved Location Approved Location Approved Location Approved Location
list list list list

· SENP and SEP · SENP and SEP

(Self-employed and (Self-employed and · Self Employed · Kirana stores &
Self-employed Self-employed customers Medical stores
professionals) professionals)

· Proprietorship · Proprietorship · Proprietorship

Entities Entities Entities

· Registered/Non- · Registered/Non- · Registered/Non-

Registered Registered Registered
Partnership Firms Partnership Firms Partnership Firms

· Limited Liability · Limited Liability · Proprietorship

Partnership firms Partnership firms Entities only

· Private Limited · Limited Liability

Companies Partnership firms

· Closely held
Public Limited (not
listed)

· Manufacturing, · Manufacturing, · Manufacturing,

Trading – wholesale, Trading – wholesale, Trading – wholesale,
· Trading – Retail
Trading – Retail, Trading – Retail, Trading – Retail,
Services Services Services

· All sourcing · All sourcing · All sourcing · All sourcing

channels channels channels channels

· Business · Business · Business

· Business
development, development, development,
development
working capital working capital working capital

· EMI – Monthly · EMI – Monthly · EMI – Monthly · EMI – Monthly

Repayment Repayment Repayment Repayment

· K Segment
· Min 1 Lakh; Max
Score: Min 1 Lakhs;
10 Lakhs
Max 20 Lakhs
· Min 50,000; Max 3 · Min 1 Lakhs; Max
Lakhs 10 Lakhs
 · Min 50,000; Max 3 · Min 1 Lakhs; Max
Lakhs 10 Lakhs
· Min: 12
· R Segment
Months; Max: 36
Score R3: Min 1
Months (in intervals
Lakhs; Max 10 Lakhs
of 6 months)

· Tenor in regular
course of business to be
maximum 24 months.
· 12, 18, 24
Tenor of 36 months
Months
permitted on a case-to- · Min: 12; Max :24
case basis based on Months; intervals of 6 · 12, 18, 24 Months
merit. Months allowed

· For > 10 Lakhs:

30 Months / 36
Months

· Min 3 Lakhs;
Max 50 Lakhs
· Min 15 Lakhs; Max
· Min 1Crore; Max 40 · Min 50 Lakhs; Max
2.5 Crores (Effective
Crores 2 Crores
Banking Credits) · Turnover
measured as per
Effective Banking
Credits

· For Loan · For Loan

amount 1 to 10 amount 50k to 1
Lakhs: 2 years · 3 years Lakhs: 2 years · 3 years
· For >10 Lakhs: 3 · For >1 Lakhs: 3
years years

· Residence
· Residence Stability: 24 Months · Residence · Residence
Stability: 12 Months (Owned Residence – Stability: 12 Months Stability: 12 Months
12 months)

· Business · Business · Business · Business

Stability: 12 Months Stability: 12 Months Stability: 12 Months Stability: 12 Months

· To be verified · To be verified · To be verified · To be verified

through CPV / PD through CPV / PD through CPV / PD through CPV / PD

NA NA NA NA

NA NA NA NA
 NA NA NA NA

· MUE: 40% · As per Grid /

capping Annexure 1-

· MUE: Total
Unsecured Live
Outstanding Loan
amounts (POS) /
Total Effective
Credits
Refer to policy

· Allowed 3
· Max 7
existing unsecured · As per Grid /
Unsecured loan · Max 3 Unsecured loans, i.e. we can be Annexure 1
allowed. loan allowed. i.e., We Max 4th lender
can be max 4th lender

· i.e., We can be · Unsecured is PL

max 8th lender. & BL Refer to policy

· K (K1, K2, K3), · K (K1, K2, K3) to

R3 to be processed. be processed
· Not Applicable
· R2, R1, N (N1,
· N (N1, N2, N3)
N2, N3) to be
to be Rejected
Rejected

· Min: 25 years; · Min: 25 years; · Min: 25 years;

Max: 65 years Max: 65 years Max: 65 years
(including proposed (including proposed (including proposed
tenor) tenor) tenor)

· Min: 23 years; Max:

65 years (including
· For Proprietors Age · For Proprietors Age proposed tenor) · For Proprietors Age
> 60, business heir / > 60, business heir / > 60, business heir /
next generation to be next generation to be next generation to be
verified and/or collected verified and/or collected verified and/or collected
as co-applicant as co-applicant as co-applicant

· KYC (ID &

· As per the Address Proofs) As per the Document · As per the
Document Policy as per the list of Policy Document Policy
Documents
 · KYC (ID & · Business 1. KYC (ID & · KYC (ID &
Address Proofs) Proof Address Proofs) Address Proofs)

2. Business
Proof (*): Can
be confirmed
through RM
visit (SVR) or · Shop & Estb
· Ownership
· Business Proof PD, mandatory License ( Live) -
Proof
(Required Business Proof
proof) for loan
amount > 1
lakhs

3. Ownership
Proof: required
· Ownership · 12 Months for > 1 Lakhs · Ownership
Proof Banking (<1 Lakhs not Proof
required)

· ITR of last
· 12 Months Assessment year
Banking shall be collected
(including
computation)

· 3 Months GSTR
documents NA
4. 12 Months Banking
required · 12 Months Banking

NA
NA

NA

NA

· Co Applicant · Co Applicant · Co Applicant

spouse to be collected spouse to be collected · 1 co-applicant spouse to be collected
for all Proprietorship for all Proprietorship mandatory for all Proprietorship
concerns. entities. concerns.

· In case spouse is · In case spouse is · In case spouse is

not available or not available or not available or
exceeds age norms, exceeds age norms, · Co applicant can exceeds age norms,
immediate family immediate family be spouse or immediate family
members can be members can be immediate family members can be
collected as Co collected as Co member only collected as Co
applicants. applicants. applicants.
· Immediate family · Immediate family · Immediate family
members are Father, members are Father, members are Father,
Mother, Spouse, Son, Mother, Spouse, Son, Mother, Spouse, Son,
Unmarried Daughter Unmarried Daughter Unmarried Daughter

· 100% partners to · 100% partners to · 100% partners to

be collected as co- be collected as co- be collected as co-
applicants for applicants for applicants for
Partnership firms. Partnership firms. Partnership firms.

· 51% of · 51% of
shareholders to be · Entities cannot be shareholders to be
collected as co- collected as Co- collected as co-
applicants for Pvt ltd / applicants. applicants for Pvt ltd /
Pub Ltd firms (Closely Pub Ltd firms (Closely
held) held)

· Entities cannot be · Co-applicants can · Entities cannot be

collected as Co- be Indian Residents collected as Co-
applicants. only applicants.

· Applicant / Co- · Applicant / Co-

applicants should be applicants should be
Indian Residents only Indian Residents only

· Trans Union · Trans Union

(CIBIL) Consumer · Trans Union · Trans Union (CIBIL) Consumer
bureau version 3 to be (CIBIL) Consumer (CIBIL) Consumer bureau version 3 to be
considered, cut off bureau version 3 to be bureau version 3 to be considered, cut off as
650. considered, cut off 650 considered, cut off 650 per grid / annexure 1

· NTC / No Score · NTC / No Score · No Score (0, -1 or · NTC / No Score

(0, -1 or 1 to 5) to be (0, -1 or 1 to 5) to be 1 to 5) to be allowed as (0, -1 or 1 to 5) to be
allowed as per Product allowed as per Product per Product details allowed as per Product
details. details details.

· No Deviation · No Deviation · No Deviation · No Deviation

allowed for CIBIL Score allowed for CIBIL Score allowed for CIBIL Score allowed for CIBIL Score
6 to 650, (>=6 - <=650: 6 to 650, (>=6 - <=650: 6 to 650, (>=6 - <=650: 6 to 650, (>=6 - <=650:
NoGo) NoGo) NoGo) NoGo)

· Guarantor / Joint · Guarantor / Joint · Guarantor / Joint

trade line derogatory trade line derogatory trade line derogatory
details can be omitted details can be omitted details can be omitted
with proper with proper with proper
justification justification justification

· As per Annexure · As per Annexure · As per Annexure · As per Annexure

· At least 1 own · At least 1 own · At least 1 own
property in the name property in the name property in the name
· Both Rented
of the borrower or of the borrower or of the borrower or
Profiles: Max Loan
the co-applicant or the co-applicant or the co-applicant or
amount to be
immediate family immediate family immediate family
capped at 1 Lakhs
member of the co- member of the co- member of the co-
applicant. applicant. applicant.

· For > 1 Lakhs, at

· Immediate · Immediate
least 1 own property
family members · Property owners family members
in the name of the
mean – father, to be collected as Co- mean – father,
borrower or
mother, Spouse, Son, applicant. mother, Spouse, Son,
immediate family
Unmarried Daughter Unmarried Daughter
member is required

· Immediate
· Immediate family members
· It may be a · It may be a
family members mean – father,
residential or a residential or a
mean – father, mother, Son, Son-in-
commercial property commercial property
mother, Spouse, Son, law, Daughter,
currently owned. Daughter-in law, currently owned.
Unmarried Daughter
Spouse

· It may be a · It may be a
· It may be self- residential or a residential or a · It may be self-
occupied or let-out. commercial property commercial property occupied or let-out.
currently owned. currently owned.

· Property · Property should

available in any Ashv · It may be self- · It may be self- be available ONLY in
operating location is occupied or let-out. occupied or let-out. operating business
acceptable location

· Property · Property
· Rented · Rented
available in any Ashv available in any Ashv
Residence cum office Residence cum office
operating location is operating location is
is NOT allowed is NOT allowed.
acceptable. acceptable

· Both Rented
Profiles with 3 years
Business Vintage:
· Rented · Both Rented
Max Loan amount to
Residence cum office Profiles is NOT
be capped at 5 Lakhs
is NOT allowed. allowed.
& CPV of Permanent
address to be
verified.
· Rented Residence
cum office is NOT
allowed
 · Rented Residence
cum office is NOT
allowed

· Both Rented
Profiles: Not Allowed
· Owned Residence
· Owned RCO: Max
Cum Office: Max Loan
Loan amount to be
amount to be capped at
capped at 5 Lakhs
5 Lakhs
· Owned RCO:
Max Loan amount to
be capped at 5 Lakhs

· 12 Months · 12 Months · 12 Months · 12 Months

Current account Current account Current account Current account
bank statement bank statement bank statement bank statement
required required. required required.

· Overdraft / Cash · Overdraft / Cash · Overdraft / Cash · Overdraft / Cash

credit accounts are credit accounts are credit accounts are credit accounts are
allowed as per allowed as per allowed as per allowed as per
method method. method method.

· Saving account · Saving account · Saving account · Saving account

statements can be statements can be statements can be statements can be
considered provided considered provided considered provided considered provided
business business business business
transactions are transactions are transactions are transactions are
observed for sole observed for sole observed for sole observed for sole
proprietorship proprietorship. proprietorship proprietorship.

· Clubbing of · Clubbing of · Clubbing of · Clubbing of

banking is allowed of banking is allowed of banking is allowed of banking is allowed of
same business; same business. same business same business.

· Group company · Group company · Group company

· Banking cut off
/ Sister concerns / Sister concerns / Sister concerns
date is of 10th of
accounts clubbing is accounts clubbing is accounts clubbing is
every month
not allowed not allowed. not allowed.

· Short banking · Short banking · Group company · Short banking

can be clubbed with can be clubbed with / Sister concerns can be clubbed with
other accounts with other accounts with accounts clubbing is other accounts with
proper justification proper justification. not allowed proper justification

· Short banking
can be clubbed with
other accounts with
proper justification

· Loan deposits, Loan deposits, Interest · Loan deposits,

Interest credits, non- credits, non-business- Interest credits, non-
business-related related transactions, business-related
transactions, Group Group entity transfers transactions, Group
entity transfers to be to be deducted while entity transfers to be
deducted while considering banking deducted while
considering banking considering banking
 · Loan deposits, Loan deposits, Interest · Loan deposits,
Interest credits, non- credits, non-business- Interest credits, non-
business-related related transactions, business-related
transactions, Group Group entity transfers transactions, Group
entity transfers to be to be deducted while entity transfers to be
deducted while · Loan deposits, deducted while
considering banking Interest credits, non-
considering banking considering banking
business-related
transactions, Group
entity transfers to be
deducted while
considering banking

· Minimum 70%
of BTO basis PD
details
· Not Applicable
· i.e. Total
Effective Credits
versus Top line as
per PD

· Minimum 5 · Minimum 5 · Minimum 2 · Minimum 1

Credit transactions Credit transactions Credit transactions Credit transactions
per month required per month required per month required per month required
to consider banking to consider banking. to consider banking to consider banking

· In case any one

· Combined · Combined of the Month, credits · Combined
credits across all credits across all are less than 2, Max credits across all
banking banking loan amount is banking
capped to 1 Lakh

NA NA NA NA

NA NA NA NA

NA NA NA NA

NA NA NA NA

NA NA NA NA

NA NA NA NA
 · Not more than · Not more than · Not more than
· Not more than 2
3% in of Total 2% in of Total 3% in of Total
per month
cheque issued cheque issued (or) cheque issued

· Not more than 5 · Not more than 5 · Not more than 6 · Not more than 5
in last 6 months in last 6 months in 12 months in last 6 months
whichever is higher whichever is higher banking whichever is higher

· Not more than 5

per month
· Not more than 7% · Not more than 7% · Not more than 7%
in last 12 months in last 12 months · Not more than in last 12 months
10 in 12 months
banking

· 1 EMI bounces · 1 EMI bounces · 1 EMI bounces

due to insufficient due to insufficient due to insufficient
· 1 EMI bounces
funds in last 3 funds in last 3 funds in last 3
due to insufficient
months are allowed months are allowed months are allowed
funds in last 3
and same must be and same must be and same must be
months are allowed
paid within 8 days of paid within 8 days of paid within 8 days of
due date. due date. due date.

· Overall, not · Overall, not · Overall, not · Overall, not

more than 3 Emi more than 3 Emi more than 3 Emi more than 3 Emi
bounces allowed in bounces allowed in bounces allowed in bounces allowed in
last 6 months due to last 6 months due to last 6 months due to last 6 months due to
insufficient funds insufficient funds insufficient funds insufficient funds
and to be repaid and to be repaid and to be repaid and to be repaid
within 8 days with within 8 days with within 8 days with within 8 days with
sufficient sufficient sufficient sufficient
mitigations. mitigations. mitigations. mitigations.

· Technical · Technical · Technical · Technical

bounces to be bounces to be bounces to be bounces to be
excluded and must excluded and must excluded and must excluded and must
be justified in credit be justified in credit be justified in credit be justified in credit
appraisal. appraisal. appraisal. appraisal.

· Interest service
in first 10 days (not
more than 3
instances in last 12
months of late
servicing) · To be Less than 10 · Not Applicable
days per quarter

· No
overutilization in last
6 months (Not more
than 95%)

· As per Standard · As per Standard · As per Standard · As per Standard

Policy Policy Policy Policy
· As per Standard · As per Standard · As per Standard · As per Standard
Policy Policy Policy Policy
· As per Standard · As per Standard · As per Standard · As per Standard
Policy Policy Policy Policy
· Mandatory for · Mandatory for · Mandatory for
all Co-Applicants all Co-Applicants all Co-Applicants

· SVR (Site
Verification report) · Mandatory
confirming details to Residence CPV visit · Mandatory at
be submitted by Business / Office
Relationship premises
Manager / Sales
Manager

· In case
Operating business /
manufacturing unit is
· Mandatory at · Mandatory at · Mandatory at different, in that
Business / Office Business / Office Business / Office case CPV to be
premises premises premises visit report conducted for those
premises – basis
Local credit decision
optionally

· In case In case Operating

Operating business / · SVR (Site business /
manufacturing unit is Verification report) manufacturing unit is
different, in that confirming details to different, in that case · For Loan
case CPV to be be submitted by CPV to be conducted for amounts 1 Lakh to 5
conducted for those Relationship those premises – basis Lakhs – Video PD
premises – basis Manager / Sales Local credit decision
Local credit decision Manager optionally
optionally

· For Loan
· For Loan · For Loan
amount > 5 Lakhs -
amounts 1 Lakh to 5 amounts 1 Lakh to 5 · Tele / Video PD
Business premises
Lakhs – Video PD Lakhs – Video PD
visit by Credit

· For Loan
· For Loan
amount > 5 Lakhs -
amount > 5 Lakhs -
Business premises
Physical PD by Credit
visit by Credit · Photos with Name · Photos with Name
board and activity to be board and activity to be
· Photos with · Photos with documented documented
Name board and Name board and
activity to be activity to be
documented documented
· RIU
· RIU verification · RIU verification · RIU verification
verification
Mandatory for all Mandatory for all Mandatory for all
Mandatory for
documents documents documents
all documents

· 2 reference · 2 reference
required required

1. Consumer 1. Consumer 1. Consumer

CIBIL of all CIBIL of all 1. Consumer CIBIL of all
promoters and promoters and CIBIL promoters and
PG provider PG provider PG provider

2. 2. 2.
Commercial Commercial Commercial
CIBIL of CIBIL of CIBIL of
borrowing borrowing borrowing
entity and entity and 2. AML Check entity and
group entities group entities group entities
other than other than other than
proprietorship proprietorship proprietorship
entities entities entities

3. Negative 3. Negative 3. PAN 3. Negative

country list country list Number check country list
4. India
4. PF Check 4. PF Check 4. PF Check
Kanoon Check
5. CA 5. CA 5. CA
5. RBI
Membership Membership Membership
Defaulter list
Check Check Check

6. MCA / ROC 6. MCA / ROC 6. Political 6. MCA / ROC

check (Insta check (Insta exposure check check (Insta
financials etc.) financials etc.) (My Neta etc.) financials etc.)

7. PAN 7. PAN 7. PAN

Number check Number check Number check
8. India 8. India 8. India
Kanoon Check Kanoon Check Kanoon Check
9. RBI 9. RBI 9. RBI
Defaulter list Defaulter list Defaulter list

10. Political 10. Political

exposure check exposure check
(My Neta etc.) (My Neta etc.)

10. Political exposure

check (My Neta etc.)
 11. GSTR to be 11. GSTR to be 10. Political exposure
verified, No verified, No check (My Neta etc.)
dues should be dues should be
available available
(except for last (except for last
2 months from 2 months from
login date login date

· Commercial · Commercial · Commercial · Commercial

CIBIL Score: CMR 1 CIBIL Score: CMR 1 CIBIL Score: CMR 1 CIBIL Score: CMR 1
to 8 allowed to 8 allowed to 8 allowed to 8 allowed

· CMR 9 & CMR · CMR 9 & CMR · CMR 9 & CMR · CMR 9 & CMR
10: NoGo / Not 10: NoGo / Not 10: NoGo / Not 10: NoGo / Not
allowed allowed allowed allowed

1.
Commercial
· Commercial · Commercial · Commercial CIBIL will be
CIBIL will be CIBIL will be CIBIL will be applicable for
applicable for all applicable for all applicable for all all Entities
Entities except for Entities except for Entities except for except for
Proprietorship cases Proprietorship cases Proprietorship cases Proprietorship
cases

2. Group
· Group entities / · Group entities / · Group entities / entities / Sister
Sister concerns Sister concerns Sister concerns concerns
commercial cibil is commercial cibil is commercial cibil is commercial cibil
also applicable to also applicable to also applicable to is also
other than other than other than applicable to
Proprietorship Proprietorship Proprietorship other than
entities. entities. entities. Proprietorship
entities.

NA NA NA NA

NA NA NA NA

NA NA NA NA
NA NA NA NA

NA NA NA NA

NA NA NA NA

NA NA NA NA

NA NA NA NA

NA NA NA NA

NA NA NA NA

NA NA NA NA
NA NA NA NA
 Mansha Loan

· As per
Approved Location
list

· Women
Entrepreneurs only

· Proprietorship
Entities only

· Manufacturing,
Trading – wholesale,
Trading – Retail,
Services

· All sourcing
channels

· Business
development,
working capital

· EMI – Monthly
Repayment

· Min 50,000; Max 3

Lakhs
· Min 50,000; Max 3
Lakhs

· Min: 12; Max :36

Months; intervals of 6
Months allowed

· Min 3 Lakhs;
Max 20 Lakhs

· Turnover
measured as per
Banking Credits

· For Loan
amount 50k to 1
Lakhs: 2 years
· For >1 Lakhs: 3
years

· Residence
Stability: 12 Months

· Business
Stability: 12 Months

· To be verified
through CPV / PD

NA

NA
 NA

· 2 existing
unsecured loans, i.e.,
we will be 3rd lender.

· Unsecured is PL
& BL

· K (K1, K2, K3), R

(R2, R3) to be
processed.

· R1, N (N1, N2,

N3) to be Rejected

· Min: 23 years; Max:

65 years (including
proposed tenor)

As per the Document

Policy
 1. KYC (ID &
Address Proofs)

2. Business
Proof
(optional): Can
be confirmed
through RM
visit (SVR) or
PD, mandatory
for loan amount
> 1 lakhs.

3. Ownership
Proof: required
for > 1 Lakhs
(<1 Lakhs not
required)

4. 12 Months Banking

· 1 co-applicant
mandatory,
· Co applicant can be
immediate family
member, if immediate
family member not
possible then Nonfamily
members can also be
considered

· Trans Union
(CIBIL) Consumer
bureau version 3 to be
considered, cut off
650.

· No Score (0, -1 or
1 to 5) to be allowed as
per Product details.

· No Deviation allowed
for CIBIL Score 6 to 650,
(>=6 - <=650: NoGo)

· As per Annexure
 · Both Rented
Profiles: Max Loan
amount to be
capped at 1 Lakh.

· For > 1 Lakhs, at

least 1 own property
in the name of the
borrower or
immediate family
member is required.

· Immediate
family members
mean – father,
mother, Spouse, Son,
Unmarried Daughter

· It may be a
residential or a
commercial property
currently owned.

· It may be self-
occupied or let-out.

· Property
available in any Ashv
operating location is
acceptable.

· Rented Residence
cum office is NOT
allowed
· Rented Residence
cum office is NOT
allowed

· 12 Months
Current account
bank statement
required.

· Overdraft / Cash
credit accounts are
allowed as per
method.

· Saving account
statements can be
considered provided
business
transactions are
observed for sole
proprietorship.

· Clubbing of
banking is allowed of
same business.

· Group company
/ Sister concerns
accounts clubbing is
not allowed.

· Short banking
can be clubbed with
other accounts with
proper justification.

· Loan deposits,
Interest credits, non-
business-related
transactions, Group
entity transfers to be
deducted while
considering banking
 · Loan deposits,
Interest credits, non-
business-related
transactions, Group
entity transfers to be
deducted while
considering banking

· Minimum 2 Credit
transactions per month
required to consider
banking

NA

NA

NA

NA

NA

NA
· Not more than 2
per month

· Not more than 6

in 12 months
banking

· Not more than 5

per month
· Not more than
10 in 12 months
banking

· 1 EMI bounces
due to insufficient
funds in last 3
months are allowed.

· Overall, not
more than 3 Emi
bounces allowed in
last 6 months due to
insufficient funds
and to be repaid
within 8 days with
sufficient
mitigations.

· Technical
bounces to be
excluded and must
be justified in credit
appraisal.

· As per Standard
Policy
 · As per Standard
Policy
· As per Standard
Policy

· Mandatory
Residence CPV visit

· Mandatory at
Business / Office
premises visit report.

In case Operating
business /
manufacturing unit is
different, in that case
CPV to be conducted for
those premises – basis
Local credit decision
optionally

· Tele / Video PD

· Photos with Name

board and activity to be
documented
· RIU verification
Mandatory for all
documents

1. Consumer
CIBIL

2. AML Check

3. PAN
Number check
4. India
Kanoon Check

5. RBI
Defaulter list

6. Political
exposure check
(My Neta etc.)
Product Parameters

S No Parameter Policy description

1 Loan Type · Business loans

2 Locations · As per Approved Location list
3 Scope · SENP and SEP (Self-employed and Self-employed
professionals)
· Proprietorship Entities
· Registered/Non-Registered Partnership Firms
4 Constitution · Limited Liability Partnership firms
· Private Limited Companies
· Closely held Public Limited (not listed)
5 Business Type · Manufacturing, Trading – wholesale, Trading – Retail,
Services

6 Sourcing channels · All sourcing channels

7 End Use · Business development, working capital
8 Repayment Type · EMI – Monthly Repayment
9 Loan Amount · Min 5 Lakhs; Max 30 Lakhs
10 Tenor · Min: 12 Months; Max: 36 Months (in intervals of 6
months)
11 Turnover · Min 3 Crore; Max 100 Crores
12 Business Vintage · 3 years
· Residence Stability: 12 Months
13 Stability · Business Stability: 12 Months
· To be verified through CPV / PD
· Growing Business i.e., 5% growth in revenue as per
latest financials available

14 Financials · Net worth and PAT to be Positive as per latest

financials.
· Minimum 6 months gap in filing between latest 2
years ITR
No of Unsecured · Max 10 Unsecured loan allowed. i.e., We can be max
15
Loans 11th lender
· Minimum risk rating of 50 required (ML Score)
16 Internal Risk Rating
· < 50 is not allowed
· Min: 25 years; Max: 65 years (including proposed
tenor)

17 Age · For Proprietors Age > 60, business heir / next

generation to be verified and/or collected as co-applicant.

· Applicable to All Individual Applicant / Co-applicants

· As per the list of Documents

· KYC (ID & Address Proofs)
· Business Proof

KYC & Document

18
Policy
 · Ownership Proof
KYC & Document · 12 Months Banking
18
Policy · 12 Months GSTR documents
· 3 Years Audited Financials, 3 years Tax Audit report / ITR
with Annexures.

· Provisional financials, Cases logged in after July should

have mandatorily provisional of last financial year

· Co Applicant spouse to be collected for all Proprietorship

entities.

· In case spouse is not available or exceeds age norms,

immediate family members can be collected as Co applicants.

· Immediate family members are Father, Mother, Spouse,

Son, Unmarried Daughter
· 100% partners to be collected as co-applicants for
Partnership firms.
19 Co-Applicants
· 51% of shareholders to be collected as co-applicants for
Pvt ltd / Closely held Pub Ltd firms (unlisted)

· Personal Guarantee of Managing Director and

shareholders holding more than 20% stake in the company for
all Pvt ltd / Closely held Pub Ltd firms (unlisted)

· Entities cannot be collected as Co-applicants.

· Applicant / Co-applicants can be Indian Residents only

· Trans Union (CIBIL) Consumer bureau version 3 to be

considered, cut off 650.
· NTC / No Score (0, -1 or 1 to 5) to be allowed as per
Product details
20 Bureau policy
· No Deviation allowed for CIBIL Score 6 to 650, (>=6 -
<=650: NoGo)
· Guarantor / Joint trade line derogatory details can be
omitted with proper justification
Bureau Derogatory
21 · As per Annexure 1
Policy

· At least 1 own property in the name of the borrower

or the co-applicant or immediate family member of the
co-applicant.
· Immediate family members mean – father, mother,
Spouse, Son, Unmarried Daughter
· It may be a residential or a commercial property
currently owned.
· It may be self-occupied or let-out.
22 Own Property
· Property should be available in Operating Business
location only.
· Rented Residence cum office is NOT allowed.
· Both Rented Profiles: Max Loan amount to be
capped at 10 Lakhs & CPV of Permanent address to be
verified.
· Owned RCO: Max Loan amount to be capped at 10
Lakhs
 · 12 Months Current account bank statement
required.
· Overdraft / Cash credit accounts are allowed as per
method.
· Saving account statements can be considered
provided business transactions are observed for sole
proprietorship.
Banking
23 · Clubbing of banking is allowed of same business.
Requirements
· Group company / Sister concerns accounts clubbing
is not allowed.
· Short banking can be clubbed with other accounts
with proper justification.
· Loan deposits, Interest credits, non-business-related
transactions, Group entity transfers to be deducted while
considering banking

24 Banking Turnover · Minimum 80% of BTO i.e., Total Effective Credits

versus Top line

25 Leverage · TOL/ATNW <= 4 for manufacturing and 5 for Trading

· Debtor days <= 120 days for manufacturing & 90

days for trading
· Inventory days <= 120 days for manufacturing & 60
Guiding Financial days for trading
26
Ratios · Cash cycle <= 180 days for manufacturing & days for
traders
· Term Debt/ EBITDA <= 4
· Above ratios are Guiding principles only.

· Not more than 2% in of Total cheque deposits (or)

Inward Cheque
27
Returns
· Not more than 5 in last 6 months whichever is higher

Outward Cheque
28 · Not more than 7% in last 12 months
Returns

· 1 EMI bounces due to insufficient funds in last 3

months are allowed and same must be paid within 8 days
of due date.

29 EMI Returns · Overall, not more than 3 Emi bounces allowed in last
6 months due to insufficient funds and to be repaid
within 8 days with sufficient mitigations.
· Technical bounces to be excluded and must be
justified in credit appraisal.
· Interest service in first 10 days (not more than 3
OD / CC instances in last 12 months of late servicing)
30
Performance · No overutilization in last 6 months (Not more than
95%)
 HRP - High Risk
31 Profiles (Negative · As per Standard Policy
Industry list)

HRA - High Risk

32 · As per Standard Policy
Area (Negative)
OGL – Out of Geo
33 · As per Standard Policy
limits
34 Residence CPV · Mandatory for all Co-Applicants
· Mandatory at Business / Office premises

Business / Office · In case Operating business / manufacturing unit is

35
CPV different, in that case CPV to be conducted for those
premises – basis Local credit decision optionally

· For Loan amounts 1 Lakh to 5 Lakhs – Video PD

· For Loan amount > 5 Lakhs - Physical PD by Credit

36 Business Discussion
· Photos with Name board and activity to be
documented
37 RIU · RIU verification Mandatory for all documents

· Consumer CIBIL of all promoters and PG provider

· Commercial CIBIL of borrowing entity and group

entities other than proprietorship entities
· Negative country list
· PF Check
Hygiene Check / · CA Membership Check
38
Online Verifications · MCA / ROC check (Insta financials etc.)
· PAN Number check
· India Kanoon Check
· RBI Defaulter list
· Political exposure check (My Neta etc.)
· GSTR to be verified; No dues should be available
(except for last 3 months from login date
· Commercial CIBIL Score: CMR 1 to 8 allowed
· CMR 9 & CMR 10: NoGo / Not allowed
· Commercial CIBIL will be applicable for all Entities
39 Commercial CIBIL except for Proprietorship cases

· Group entities / Sister concerns commercial cibil is

also applicable to other than Proprietorship entities.

· Post Funding DSCR should be Minimum 1

Debt Service
40 Coverage Ratio · DSCR to be calculated based on the latest financials
(DSCR) and current obligation including EMI of Proposed Loan.

Following are to be considered as part of obligation:

 · EMI of all term loans in the name of applicant entity.
In case of latest disbursed loan which is not reflected in
CIBIL, tentative EMI to be obligated, if sanction letter is
not available.

· Loan getting closed in next 3 months need not be

obligated.

Calculation of · EMIs of loans in the name of Director/Partner to be

41 obligated only in cases where EMI is been debited from
Obligation for DSCR
Company’s/Firm’s/LLP’s Bank Account.

· In Case of Sole Proprietorship all Loans of Proprietor

to be obligated.
· EMI of the Ashv proposed loan to be obligated.
· For overdraft facilities, average of the interest
charged over last 6 months on the OD/CC account.
· For drop-line-overdrafts, 5% of the limit or actual if
available.
· EBITDA-tax-Other Income

42 Income · Any other incomes like Partner / Director

remuneration / Interest to partners etc or non-business
or non-recurring incomes are not to be considered

CIBIL Derog Policy

CIBIL Derogatory - < = 3 years reported date, trade line from CIBIL pull date
Criter
No Deviation Deviation, Level 1
ia
Overd
ue Credit Card: 1 to 2000 Credit Card: 2001 to 1,00,000
Amou
nt Loans: 1 to 1000 Loans: 1001 to 50,000
No DPD in last 6 <= 30 days in last 6 months
months
DPD
No DPD in > 6 months DPD < 60 days in more than 6 months
to 3 years

Negat
ive No negative Status -
Status

CIBIL Derogatory - > 3 years reported date, trade line from CIBIL pull date
Criter
No Deviation Deviation, Level 1
ia
Overd
ue
Amou Overdue: 1 to 5000 overdue: 5001 to 1 Lakh
nt
 DPD < = 90 days in
DPD more than 3 years old DPD > 90 days / DBT / SMA / LSS reported in any trade line
trade line

Negat
ive No negative Status Write off / settlement amount: < = 10k
Status

Amendments
· Any changes or modification to this document can be signed off by Chief Risk Officer

Dev
iati
ons

S. No Deviation Code Deviation Type

1 DFPCMRSCR Policy

2 DFPCIB1 Policy
3 DFPCIB2 Policy

4 DFPAge1 Policy

5 DFPAge2 Policy

6 DFPRES Policy

7 DFPOFF Policy

8 DFPVIN Policy

9 DFPIW Policy

10 DFPOW Policy

11 DFPEMI Policy

12 DFPMUL Policy

13 DFRRCPV Process

14 DFROCPV Process

15 DFRTO1 Policy

16 DFRTO2 Policy
17 DFPHRP Policy

18 DFPHRA Policy

19 DFPOTH Policy

20 DFRFCU1 Refer

21 DFRFCU2 Refer

22 DFRFCU3 Refer

23 DFRFCU4 Negative

24 DFPDSCR Policy

25 DFPTO Policy

26 DFRGST Process

27 DFPLVR Policy

28 DFPBTO Policy

29 DFPNW Policy

30 DFPPAT Policy
rade line from CIBIL pull date
Deviation, Level 2
NoGo
Approval

Credit Card: > 1 Lakh -

Loans: > 50k -

> 30 days in last 6 months -

DPD > 60 days in more -

than 6 months

Suit filed, Restructured,

write off, settled Wilful Default

ade line from CIBIL pull date

Deviation, Level 2
NoGo
Approval

Overdue: > 1 Lakh -

 -

Suit filed, Restructured,

Write off / settlement Wilful Default
amount: > 10k

ef Risk Officer

Deviation Description Approval Authority

Commercial CIBIL Score

NCH / NPH
less than cut off

CIBIL Derog Level 1 ACH / SH

CIBIL Derog Level 2 NCH / NPH

Max Age norms not met CRO

Min Age norms not met CRO

Residence stability less

ACH / SH
than 1 year
Office stability less than
ACH / SH
1 year
Business Vintage Norms
NCH / NPH
not met
Inward returns norms
NCH / NPH
not met
Outward returns norms
ACH / SH
not met
Recent EMI Bounces in
NCH / NPH
last 3 Months
Max Unsecured Loans
CRO
cap not met
Residence or Office CPV
ACH / SH
Refer
Residence or Office CPV
NCH / NPH
Negative
Min turnover norms not
NCH / NPH
met

Max turnover not met NCH / NPH

High Risk Profile / NoGo
CRO
Profile
High Risk Area /
CRO
Negative Area
Any other Policy
CRO
Deviation

Only Bank statement is

refer and rest all results
are positive. In this case
bank statement ACH / SH
processing must have
been done through
Perfios.

Report marked as refer

since docs could not be
verified and CM
validates the ACH / SH
correctness through
online government
portal

Few documents could

not be validated due to
NCH / NPH
some genuine reason
and rest all are Positive

Report negatives
however there are
genuine reason to CRO
believe its correctness
through other sources

DSCR norms not met up

NCH / NPH
to 0.7
Revenue Growth (Y-o-Y)
ACH / SH
not met

GST-3B returns Not filed

NCH / NPH
except last 3 months

Leverage (TOL/ATNW)
ACH / SH
not met
Banking Turnover Not
ACH / SH
met
Negative Net worth NCH / NPH
Negative PAT
(Depreciation loss only,
CRO
in case of Business loss -
NoGo)
Product Parameters
S No Parameter Policy description
1 Loan Type · Banking Surrogate loans
2 Locations · As per Approved Location list
3 Scope · SENP and SEP (Self-employed and Self-employed
professionals)
· Proprietorship Entities
· Registered/Non-Registered Partnership Firms
4 Constitution · Limited Liability Partnership firms
· Private Limited Companies
· Closely held Public Limited (not listed)
5 Business Type · Manufacturing, Trading – wholesale, Trading – Retail,
Services

6 Sourcing channels · All sourcing channels

7 End Use · Business development, working capital
8 Repayment Type · EMI – Monthly Repayment

· K Segment Score: Min 1 Lakhs; Max 20 Lakhs

9 Loan Amount
· R Segment Score R3: Min 1 Lakhs; Max 10 Lakhs
· 12, 18, 24 Months
10 Tenor
· For > 10 Lakhs: 30 Months / 36 Months
11 Turnover · Min 1Crore; Max 40 Crores
· For Loan amount 1 to 10 Lakhs: 2 years
12 Business Vintage
· For >10 Lakhs: 3 years
· Residence Stability: 12 Months
13 Stability · Business Stability: 12 Months
· To be verified through CPV / PD
· MUE: 40% capping
Max Unsecured
14 · MUE: Total Unsecured Live Outstanding Loan amounts
Exposure
(POS) / Total Effective Credits
No of Unsecured · Max 7 Unsecured loan allowed.
15
Loans · i.e., We can be max 8th lender.
Internal Risk · K (K1, K2, K3), R3 to be processed.
16
Rating · R2, R1, N (N1, N2, N3) to be Rejected

· Min: 25 years; Max: 65 years (including proposed tenor)

17 Age
· For Proprietors Age > 60, business heir / next generation to
be verified and/or collected as co-applicant

· As per the Document Policy

· KYC (ID & Address Proofs)
KYC & Document · Business Proof
18
Policy · Ownership Proof
 KYC & Document
18
Policy
· 12 Months Banking
· 3 Months GSTR documents
· Co Applicant spouse to be collected for all Proprietorship
concerns.
· In case spouse is not available or exceeds age norms, immediate
family members can be collected as Co applicants.
· Immediate family members are Father, Mother, Spouse, Son,
Unmarried Daughter
19 Co-Applicants
· 100% partners to be collected as co-applicants for Partnership
firms.
· 51% of shareholders to be collected as co-applicants for Pvt ltd /
Pub Ltd firms (Closely held)
· Entities cannot be collected as Co-applicants.
· Applicant / Co-applicants should be Indian Residents only
· Trans Union (CIBIL) Consumer bureau version 3 to be considered,
cut off 650.
· NTC / No Score (0, -1 or 1 to 5) to be allowed as per Product
details.
20 Bureau policy
· No Deviation allowed for CIBIL Score 6 to 650, (>=6 - <=650:
NoGo)
· Guarantor / Joint trade line derogatory details can be omitted
with proper justification
Bureau
21 · As per Annexure 1
Derogatory Policy

· At least 1 own property in the name of the borrower or the

co-applicant or immediate family member of the co-applicant.

· Immediate family members mean – father, mother, Spouse,

Son, Unmarried Daughter
· It may be a residential or a commercial property currently
owned.
· It may be self-occupied or let-out.
22 Own Property
· Property available in any Ashv operating location is
acceptable
· Rented Residence cum office is NOT allowed
· Both Rented Profiles with 3 years Business Vintage: Max
Loan amount to be capped at 5 Lakhs & CPV of Permanent
address to be verified.

· Owned RCO: Max Loan amount to be capped at 5 Lakhs

· 12 Months Current account bank statement required

· Overdraft / Cash credit accounts are allowed as per method

· Saving account statements can be considered provided

business transactions are observed for sole proprietorship

Banking · Clubbing of banking is allowed of same business;

23
Requirements
 Banking
23
Requirements · Group company / Sister concerns accounts clubbing is not
allowed
· Short banking can be clubbed with other accounts with
proper justification
· Loan deposits, Interest credits, non-business-related
transactions, Group entity transfers to be deducted while
considering banking
· Minimum 70% of BTO basis PD details
24 Banking Turnover
· i.e. Total Effective Credits versus Top line as per PD
· Minimum 5 Credit transactions per month required to
Minimum Credits consider banking
25
per Month
· Combined credits across all banking
Inward Cheque · Not more than 3% in of Total cheque deposits
26
Returns · Not more than 5 in last 6 months whichever is higher
Outward Cheque
27 · Not more than 7% in last 12 months
Returns

· 1 EMI bounces due to insufficient funds in last 3 months are

allowed and same must be paid within 8 days of due date.

28 EMI Returns · Overall, not more than 3 Emi bounces allowed in last 6
months due to insufficient funds and to be repaid within 8 days
with sufficient mitigations.
· Technical bounces to be excluded and must be justified in
credit appraisal.
· Interest service in first 10 days (not more than 3 instances
OD / CC in last 12 months of late servicing)
29
Performance
· No overutilization in last 6 months (Not more than 95%)

HRP - High Risk

30 Profiles (Negative · As per Standard Policy
Industry list)

HRA - High Risk

31 · As per Standard Policy
Area (Negative)
OGL – Out of Geo
32 · As per Standard Policy
limits
33 Residence CPV · Mandatory for all Co-Applicants
· Mandatory at Business / Office premises
Business / Office · In case Operating business / manufacturing unit is different,
34
CPV in that case CPV to be conducted for those premises – basis
Local credit decision optionally
· For Loan amounts 1 Lakh to 5 Lakhs – Video PD
· For Loan amount > 5 Lakhs - Business premises visit by
Business Credit
35
Discussion
 Business
35
Discussion
· Photos with Name board and activity to be documented
36 RIU · RIU verification Mandatory for all documents
1. Consumer CIBIL of all promoters and PG provider
2. Commercial CIBIL of borrowing entity and group
entities other than proprietorship entities
3. Negative country list
4. PF Check
Hygiene Check / 5. CA Membership Check
37 Online 6. MCA / ROC check (Insta financials etc.)
Verifications 7. PAN Number check
8. India Kanoon Check
9. RBI Defaulter list
10. Political exposure check (My Neta etc.)
11. GSTR to be verified, No dues should be available
(except for last 2 months from login date
· Commercial CIBIL Score: CMR 1 to 8 allowed
· CMR 9 & CMR 10: NoGo / Not allowed

1. Commercial CIBIL will be applicable for all Entities

38 Commercial CIBIL except for Proprietorship cases

2. Group entities / Sister concerns commercial cibil is also

applicable to other than Proprietorship entities.

CIBIL Derog Policy

CIBIL Derogatory - < = 3 years reported date, trade line from CIBIL pull date

Deviation
Criteria No Deviation Deviation, Level 1 , Level 2
Approval

Credit Card: 1 to Credit

Credit Card: 2001 to 1,00,000 Card: > 1
Overdue 2000 Lakh
Amount
Loans: 1 to 1000 Loans: 1001 to 50,000 Loans: >
50k

No DPD in last 6 > 30 days

months <= 30 days in last 6 months in last 6
months
DPD DPD > 60
No DPD in > 6 days in
months to 3 years DPD < 60 days in more than 6 months more than
6 months
 Suit filed,
Negative Restructur
Status No negative Status - ed, write
off, settled

CIBIL Derogatory - > 3 years reported date, trade line from CIBIL pull date

Deviation
Criteria No Deviation Deviation, Level 1 , Level 2
Approval

Overdue Overdue: 1 to 5000 overdue: 5001 to 1 Lakh Overdue: >

Amount 1 Lakh
DPD < = 90 days in
DPD more than 3 years DPD > 90 days / DBT / SMA / LSS reported in any trade line
old trade line

Suit filed,
Restructur
Negative ed, Write
Status No negative Status Write off / settlement amount: < = 10k off /
settlement
amount: >
10k

Eligibility Method: Average Bank Balance Program (ABB)

· 12 Months Banking required (refer Banking annexure for further details)
· Clubbing of accounts is allowed, saving accounts can be considered in case Business transactions are reflecting, O
· Even with standalone OD/CC account is accepted for eligibility, ABB will be calculated from balances after limit, s
· Wherever OD/CC account is considered, 1-year OD/CC statement to be uploaded.
· ABB to be computed from EOD balances of each day
· While calculating ABB Loan deposits, Interest credits, non-business-related transactions, Group entity transfers t
· Proposed EMI to be capped at 40% of ABB (i.e. Ashv Loan EMI = ABB * 40%)

Applied Lo 2,000,000
Applied Te 36
Applied RO 26%

ABB 200,000
ABB Cap 50%
Ashv Propo 80,000
Eligible L ₹ 1,985,573

Deviati
ons
S. No Deviation Code Deviation Type Deviation
 Commerci
al CIBIL
1 DBPCMRSCR Policy Score less
than cut
off

CIBIL
2 DBPCIB1 Policy Derog
Level 1

CIBIL
3 DBPCIB2 Policy Derog
Level 2

Max Age
4 DBPAge1 Policy norms
not met

Min Age
5 DBPAge2 Policy norms
not met

Residence
stability
6 DBPRES Policy
less than
1 year

Office
stability
7 DBPOFF Policy
less than
1 year

Business
Vintage
8 DBPVIN Policy
Norms
not met

Minimum
Credit
9 DBPCRD Policy
norms
not met

Inward
returns
10 DBPIW Policy
norms
not met

Outward
returns
11 DBPOW Policy
norms
not met
 Recent
EMI
12 DBPEMI Policy Bounces
in last 3
Months

Max
Unsecure
13 DBPMUL Policy d Loans
cap not
met

Residence
14 DBRRCPV Process or Office
CPV Refer

Residence
or Office
15 DBROCPV Process
CPV
Negative

Min
turnover
16 DBRTO1 Policy
norms
not met

Max
17 DBRTO2 Policy turnover
not met

High Risk
Profile /
18 DBPHRP Policy
NoGo
Profile

High Risk
Area /
19 DBPHRA Policy
Negative
Area

Any other
20 DBPOTH Policy Policy
Deviation
 Only Bank
statemen
t is refer
and rest
all results
are
positive.
In this
case bank
21 DBRFCU1 Refer
statemen
t
processin
g must
have
been
done
through
Perfios.

Report
marked
as refer
since docs
could not
be
verified
and CM
22 DBRFCU2 Refer
validates
the
correctne
ss
through
online
governme
nt portal
 Few
document
s could
not be
validated
due to
23 DBRFCU3 Refer
some
genuine
reason
and rest
all are
Positive

Report
negatives
however
there are
genuine
reason to
24 DBRFCU4 Negative
believe its
correctne
ss
through
other
sources

Amendments
· Any changes or modification to this document can be signed off by Chief Risk Officer
NoGo

-
 Wilful
Default

NoGo

Wilful
Default

ransactions are reflecting, OD/CC allowed

from balances after limit, standalone (only OD/CC account without current accounts) eligibility based on OD/CC, Max Loan amount cappe

ns, Group entity transfers to be deducted

Approval Authority
NCH / NPH

ACH / SH

NCH / NPH

CRO

CRO

ACH / SH

ACH / SH

NCH / NPH

NCH / NPH

NCH / NPH

ACH / SH
NCH / NPH

CRO

ACH / SH

NCH / NPH

NCH / NPH

NCH / NPH

CRO

CRO

CRO
ACH

ACH
NCH

CRO
D/CC, Max Loan amount capped to 15 Lakhs
Product Parameters
S No Parameter Policy description
1 Loan Type · Cluster loans
2 Locations · As per Approved Location list

3 Scope · SENP and SEP (Self-employed and Self-employed professionals)

· Proprietorship Entities
4 Constitution · Registered/Non-Registered Partnership Firms
· Limited Liability Partnership firms
5 Business Type · Manufacturing, Trading – wholesale, Trading – Retail, Services

Sourcing
6 · All sourcing channels
channels
7 End Use · Business development, working capital
Repayment
8 · EMI – Monthly Repayment
Type
9 Loan Amount · Min 1 Lakh; Max 10 Lakhs
· Min: 12 Months; Max: 36 Months (in intervals of 6 months)
10 Tenor · Tenor in regular course of business to be maximum 24 months.
Tenor of 36 months permitted on a case-to-case basis based on merit.

11 Turnover · Min 15 Lakhs; Max 2.5 Crores (Effective Banking Credits)

Business
12 · 3 years
Vintage

· Residence Stability: 24 Months (Owned Residence – 12 months)

· Business Stability: 12 Months

13 Stability

· To be verified through CPV / PD

No of
14 Unsecured · Max 3 Unsecured loan allowed. i.e., We can be max 4 th lender
Loans
· Min: 25 years; Max: 65 years (including proposed tenor)
15 Age · For Proprietors Age > 60, business heir / next generation to be
verified and/or collected as co-applicant
· KYC (ID & Address Proofs) as per the list of Documents
· Business Proof
KYC &
16 Document · Ownership Proof
Policy · 12 Months Banking
 KYC &
16 Document
Policy

· ITR of last Assessment year shall be collected (including computation)

· Co Applicant spouse to be collected for all Proprietorship entities.

· In case spouse is not available or exceeds age norms, immediate family
members can be collected as Co applicants.

· Immediate family members are Father, Mother, Spouse, Son, Unmarried

Daughter
17 Co-Applicants
· 100% partners to be collected as co-applicants for Partnership firms.

· Entities cannot be collected as Co-applicants.

· Co-applicants can be Indian Residents only

· Trans Union (CIBIL) Consumer bureau version 3 to be considered, cut off

650

· NTC / No Score (0, -1 or 1 to 5) to be allowed as per Product details

18 Bureau policy
· No Deviation allowed for CIBIL Score 6 to 650, (>=6 - <=650: NoGo)

· Guarantor / Joint trade line derogatory details can be omitted with

proper justification

Bureau · As per Annexure 1

19 Derogatory
Policy
·

· At least 1 own property in the name of the borrower or the co-

applicant or immediate family member of the co-applicant.

· Property owners to be collected as Co-applicant.

· Immediate family members mean – father, mother, Spouse, Son,

Unmarried Daughter

· It may be a residential or a commercial property currently owned.

20 Own Property · It may be self-occupied or let-out.

· Property available in any Ashv operating location is acceptable.

· Rented Residence cum office is NOT allowed.

· Both Rented Profiles: Not Allowed

 · Owned RCO: Max Loan amount to be capped at 5 Lakhs

· 12 Months Current account bank statement required.

· Overdraft / Cash credit accounts are allowed as per method.

· Saving account statements can be considered provided business

transactions are observed for sole proprietorship.
Banking
21 · Clubbing of banking is allowed of same business.
Requirements

· Group company / Sister concerns accounts clubbing is not

allowed.
· Short banking can be clubbed with other accounts with proper
justification.
Loan deposits, Interest credits, non-business-related transactions,
Group entity transfers to be deducted while considering banking

· Minimum 5 Credit transactions per month required to consider

Minimum banking.
22 Credits per
Month
· Combined credits across all banking

· Not more than 2% in of Total cheque deposits (or)

Inward Cheque
23
Returns
· Not more than 5 in last 6 months whichever is higher
Outward
24 Cheque · Not more than 7% in last 12 months
Returns
· 1 EMI bounces due to insufficient funds in last 3 months are
allowed and same must be paid within 8 days of due date.
· Overall, not more than 3 Emi bounces allowed in last 6 months
25 EMI Returns due to insufficient funds and to be repaid within 8 days with sufficient
mitigations.
· Technical bounces to be excluded and must be justified in credit
appraisal.

26 Days in
TOD/Quarter: · To be Less than 10 days per quarter
HRP - High Risk
Profiles
27 · As per Standard Policy
(Negative
Industry list)Risk
HRA - High
28 Area · As per Standard Policy
(Negative)
OGL – Out of
29 · As per Standard Policy
Geo limits
 · Mandatory for all Co-Applicants
30 Residence CPV
· SVR (Site Verification report) confirming details to be submitted by
Relationship Manager / Sales Manager

· Mandatory at Business / Office premises

Business /
31
Office CPV
· SVR (Site Verification report) confirming details to be submitted by
Relationship Manager / Sales Manager

· For Loan amounts 1 Lakh to 5 Lakhs – Video PD

Business
32
Discussion · For Loan amount > 5 Lakhs - Business premises visit by Credit

· Photos with Name board and activity to be documented

33 RIU · RIU verification Mandatory for all documents
1. Consumer CIBIL of all promoters and PG provider
2. Commercial CIBIL of borrowing entity and group entities
other than proprietorship entities
3. Negative country list
Hygiene 4. PF Check
34 Check / Online 5. CA Membership Check
Verifications 6. MCA / ROC check (Insta financials etc.)
7. PAN Number check
8. India Kanoon Check
9. RBI Defaulter list
· Political exposure check (My Neta etc.)
· Commercial CIBIL Score: CMR 1 to 8 allowed
· CMR 9 & CMR 10: NoGo / Not allowed
Commercial · Commercial CIBIL will be applicable for all Entities except for
35
CIBIL Proprietorship cases
· Group entities / Sister concerns commercial cibil is also applicable
to other than Proprietorship entities.
CREDIT GUARDRAILS FOR THE PORTFOLIO:

With the portfolio gaining pace, we are now stipulating the following credit guardrails from
a monitoring & control perspective:

Deviation Parameter

Business Vintage less than 3 years

Both Business Premises & Residence is “Rented”
& Business Vintage between 3 years & 5 years

NTC Customer &

Business Vintage less than 5 years

Cash Business is more than 50% & less than 75%

& Cash Business (entire portion) is made part of Assessment

Or

Average banking Credits + Cash component considered for assessment using

multiplier of 3 should not exceed proposed loan amount. If it exceeds loan amount
capped to 5 lakhs

Cash Business is more than 75%

& Cash Business (entire portion) is made part of Assessment

EMI/ABB > 2.5

EMI/ABB > 2 & <=2.5

EMI/ABB > 1.6 & <=2

EMI/ABB > 1 & <=1.6

EMI/ABB > 0.75 & <=1

EMI/ABB > 0.50 & <=0.75

ITR not filed
*Wherever multiple deviations are applicable, the permissible loan amount shall be lowest
of the limits as permitted by those deviations.
CIBIL Derog Policy

CIBIL Derogatory - < = 3 years reported date, trade li

Criteria

Overdue Amount

DPD

Negative Status

CIBIL Derogatory - > 3 years reported date, trade lin

Criteria

Overdue Amount

DPD

Negative Status

Amendments

· Any changes or modification to this document can be signed off by Chief Risk Officer
Deviations

S. No

10

11

12

13

14

15

16

17

18
19

20

21

22

23
 Maximum Exposure Permitted Exception Allowed

No Exposure Allowed -
Exposure above maximum permitted limit
allowed only with liquid security like FD/LIC
3 lacs policy/others etc. covering minimum 50% of
proposed limit.

3 lacs -

5 lacs -

For taking exposure where Cash Business is

No Exposure Allowed more than 75%, for purpose of assessment, the
Cash Component that can be considered is
capped at 75%.

No Exposure Allowed -
- Exposure allowed with liquid security like
FD/LIC policy/others covering minimum 50% of
2 lacs proposed exposure with maximum exposure
capped

2 lacs

3 lacs

5 lacs

7 lacs
2 lacs -
gatory - < = 3 years reported date, trade line from CIBIL pull date

Deviation, Level 2
No Deviation Deviation, Level 1
Approval

Credit Card: 1 to 2000 Credit Card: 2001 to 1,00,000 Credit Card: > 1 Lakh

Loans: 1 to 1000 Loans: 1001 to 50,000 Loans: > 50k

No DPD in last 6 months <= 30 days in last 6 months > 30 days in last 6
months

No DPD in > 6 months to 3 years DPD < 60 days in more than 6 months DPD > 60 days in more
than 6 months

No negative Status - Suit filed, Restructured,

write off, settled

ogatory - > 3 years reported date, trade line from CIBIL pull date

Deviation, Level 2
No Deviation Deviation, Level 1
Approval

Overdue: 1 to 5000 overdue: 5001 to 1 Lakh Overdue: > 1 Lakh

DPD < = 90 days in more than 3 years old DPD > 90 days / DBT / SMA / LSS reported in
trade line any trade line
Suit filed, Restructured,
No negative Status Write off / settlement amount: < = 10k Write off / settlement
amount: > 10k

y Chief Risk Officer

Deviation Code Deviation Type Deviation Description

Commercial CIBIL
DCPCMRSCR Policy
Score less than cut off

DCPCIB1 Policy CIBIL Derog Level 1

DCPCIB2 Policy CIBIL Derog Level 2

Max Age norms not

DCPAge1 Policy
met
Min Age norms not
DCPAge2 Policy
met
Residence stability
DCPRES Policy
less than 1 year
Office stability less
DCPOFF Policy
than 1 year
Business Vintage
DCPVIN Policy
Norms not met
Inward returns norms
DCPIW Policy
not met
Outward returns
DCPOW Policy
norms not met
Recent EMI Bounces
DCPEMI Policy
norms not met
Max Unsecured Loans
DCPMUL Policy
cap not met
Min turnover norms
DCRTO1 Policy
not met

DCRTO2 Policy Max turnover not met

High Risk Profile /

DCPHRP Policy
NoGo Profile
High Risk Area /
DCPHRA Policy
Negative Area
Any
Onlyother
Bank Policy
statement
DCPOTH Policy
Deviation
is refer and rest all
results are positive. In
DCRFCU1 Refer this case bank
statement processing
must have been done
through Perfios.
 Report marked as
refer since docs could
not be verified and
DCRFCU2 Refer CM validates the
Few documents
correctness could
through
not be government
online validated due
DCRFCU3 Refer to some genuine
portal
Report negatives
reason and rest all are
however
Positive there are
DCRFCU4 Negative genuine reason to
believe its correctness
through other sources
DCPABB Policy EMI / ABB norms not m

Minimum Credit
DCPCRD Policy
norms not met
NoGo

Wilful
Default

NoGo

Wilful
Default
Approval Authority

NCH / NPH

ACH

NCH / NPH

CRO

CRO

ACH

ACH

NCH / NPH

NCH / NPH

ACH

NCH / NPH

CRO

NCH / NPH

NCH / NPH

CRO

CRO

CRO

ACH
ACH

NCH / NPH

CRO

CRO

NCH / NPH
Product Parameters
S No Parameter
1 Loan Type
2 Locations
3 Scope
4 Constitution

5 Business Type

6 Sourcing
7 End Use
8 Repayment Type
9 Loan Amount

10 Tenor

11 Age

12 Turnover

13 Business Vintage

14 Stability

Max Existing No of
15
Loans

16 Internal Risk Rating

KYC & Document

17
Policy

18 Co-Applicants

19 Bureau policy
19 Bureau policy

Bureau Derogatory
20
Policy

21 Own Property

Banking
22
Requirements

Minimum Credits
23
per Month

Inward Cheque
24
Returns
Outward Cheque
25
Returns

26 EMI Returns
 26 EMI Returns

HRP - High Risk

27
Profiles (Negative)

HRA - High Risk

28
Area (Negative)
OGL – Out of Geo
29
limits
30 Residence CPV

Business / Office
31
CPV

32 Business Discussion

33 RIU

34 References

Hygiene Check /
35
Online Verifications

CIBIL Derog Policy

CIBIL Derogatory - < = 3 years reported date, trade line
from CIBIL pull date
Criteria No Deviation
Credit Card: 1 to 2000
Overdue Amount
Loans: 1 to 1000
No DPD in last 6
months
DPD
No DPD in > 6 months
to 3 years
Negative Status No negative Status

CIBIL Derogatory - > 3 years reported date, trade line from

CIBIL pull date
Criteria No Deviation
Overdue Amount Overdue: 1 to 5000
DPD < = 90 days in
DPD more than 3 years old
trade line
Negative Status No negative Status

Eligibility Method: ABB Method

· ABB to be computed from 365 days end of day balance
· ABB Capping of 50%
· i.e. our proposed EMI should be capped to Max 50% of ABB
· While calculating ABB Loan deposits, Interest credits, non-business-related transactions, Group entity transfers t

Applied Loan Amount 300000

Applied Tenor 36
Applied ROI 24%

ABB 20000
ABB Cap 50%
ABB after cap 10000
Proposed EMI after ABB Cap 10000
Eligible Loan Amount ₹ 254,000

Deviations
· No Deviations Allowed
Amendments
· Any changes or modification to this document can be signed off by Chief Risk Officer
Policy description
· Unsecured loans – Retail Segment
· As per Approved Location list
· Self Employed customers
· Proprietorship Entities only
· Manufacturing, Trading – wholesale, Trading – Retail,
Services
· All sourcing channels
· Business development
· EMI – Monthly Repayment
· Min 50,000; Max 3 Lakhs
· Min: 12; Max :24 Months; intervals of 6 Months
allowed
· Min: 23 years; Max: 65 years (including proposed
tenor)
· Min 3 Lakhs; Max 50 Lakhs

· Turnover measured as per Effective Banking Credits

· For Loan amount 50k to 1 Lakhs: 2 years

· For >1 Lakhs: 3 years
· Residence Stability: 12 Months
· Business Stability: 12 Months
· To be verified through CPV / PD
· Allowed 3 existing unsecured loans, i.e. we can be
Max 4th lender
· Unsecured is PL & BL
· K (K1, K2, K3) to be processed
· N (N1, N2, N3) to be Rejected
As per the Document Policy
1. KYC (ID & Address Proofs)
2. Business Proof (*): Can be confirmed through RM
visit (SVR) or PD, mandatory (Required proof) for loan
amount > 1 lakhs
3. Ownership Proof: required for > 1 Lakhs (<1
Lakhs not required)
4. 12 Months Banking required
· 1 co-applicant mandatory
· Co applicant can be spouse or immediate family member
only
· Trans Union (CIBIL) Consumer bureau version 3 to be
considered, cut off 650
· No Score (0, -1 or 1 to 5) to be allowed as per Product
details
· No Deviation allowed for CIBIL Score 6 to 650, (>=6 - <=650:
NoGo)

· As per Standard Policy

· Both Rented Profiles: Max Loan amount to be capped

at 1 Lakhs

· For > 1 Lakhs, at least 1 own property in the name of

the borrower or immediate family member is required

· Immediate family members mean – father, mother,

Son, Son-in-law, Daughter, Daughter-in law, Spouse

· It may be a residential or a commercial property

currently owned.
· It may be self-occupied or let-out.
· Property available in any Ashv operating location is
acceptable
· Rented Residence cum office is NOT allowed

· 12 Months Current account bank statement required

· Overdraft / Cash credit accounts are allowed as per

method
· Saving account statements can be considered
provided business transactions are observed for sole
proprietorship
· Clubbing of banking is allowed of same business
· Banking cut off date is of 10th of every month
· Group company / Sister concerns accounts clubbing is
not allowed
· Short banking can be clubbed with other accounts
with proper justification
· Loan deposits, Interest credits, non-business-related
transactions, Group entity transfers to be deducted while
considering banking
· Minimum 2 Credit transactions per month required to
consider banking
· In case any one of the Month, credits are less than 2,
Max loan amount is capped to 1 Lakh
· Not more than 2 per month
· Not more than 6 in 12 months banking
· Not more than 5 per month
· Not more than 10 in 12 months banking
· 1 EMI bounces due to insufficient funds in last 3
months are allowed
 · Overall, not more than 3 Emi bounces allowed in last
6 months due to insufficient funds and to be repaid within
8 days with sufficient mitigations.
· Technical bounces to be excluded and must be
justified in credit appraisal.

· As per Standard Policy

· As per Standard Policy

· As per Standard Policy

· Mandatory Residence CPV visit

· Mandatory at Business / Office premises visit report

In case Operating business / manufacturing unit is different, in

that case CPV to be conducted for those premises – basis
Local credit decision optionally
· Tele / Video PD
· Photos with Name board and activity to be
documented
· RIU verification Mandatory for all documents (Risk
Intelligence Unit)
· 2 reference required
1. Consumer CIBIL
2. AML Check
3. PAN Number check
4. India Kanoon Check
5. RBI Defaulter list
6. Political exposure check (My Neta etc.)
 end of day balance

pped to Max 50% of ABB

s, Interest credits, non-business-related transactions, Group entity transfers to be deducted

ument can be signed off by Chief Risk Officer

Product Parameters
S No Parameter Policy description
1 Loan Type · GST Surrogate Business loans
2 Locations · As per Approved Location list
3 Scope · SENP and SEP (Self-employed and Self-employed
professionals)
· Proprietorship Entities
· Registered/Non-Registered Partnership Firms
4 Constitution · Limited Liability Partnership firms
· Private Limited Companies
· Closely held Public Limited (not listed)
5 Business Type · Manufacturing, Trading – wholesale, Trading – Retail,
Services

6 Sourcing channels · All sourcing channels

7 End Use · Business development, working capital
8 Repayment Type · EMI – Monthly Repayment
9 Loan Amount · Min 5 Lakhs; Max 20 Lakhs
10 Tenor · Min: 12 Months; Max: 24 Months (in intervals of 6
months)
11 Turnover · Min 2 Crore; Max 100 Crores
12 Business Vintage · 3 years
· Residence Stability: 12 Months
13 Stability · Business Stability: 12 Months
· To be verified through CPV / PD
· No Drop in Sales as per last 24 months GST Data
14 GST / Financials
· Net worth and PAT to be Positive as per latest financials.

No of Unsecured · Max 10 Unsecured loan allowed. i.e., We can be max 11 th

15
Loans lender

· Min: 25 years; Max: 65 years (including proposed tenor)

16 Age
· For Proprietors Age > 60, business heir / next generation
to be verified and/or collected as co-applicant

· As per the Document Policy

· KYC (ID & Address Proofs)
· Business Proof
KYC & Document
17 · Ownership Proof
Policy
· 12 Months Banking
· GST Registration Certificate
· 24 Months GSTR 3B documents
· Co Applicant spouse to be collected for all Proprietorship
entities.
 · In case spouse is not available or exceeds age norms,
immediate family members can be collected as Co applicants.
· Immediate family members are Father, Mother, Spouse, Son,
Unmarried Daughter
· 100% partners to be collected as co-applicants for Partnership
18 Co-Applicants firms.
· 51% of shareholders to be collected as co-applicants for Pvt
ltd / Closely held Pub Ltd firms (unlisted)
· Personal Guarantee of Managing Director and shareholders
holding more than 20% stake in the company for all Pvt ltd / Closely
held Pub Ltd firms (unlisted)
· Entities cannot be collected as Co-applicants.
· Co-applicants can be Indian Residents only
· Trans Union (CIBIL) Consumer bureau version 3 to be
considered, cut off 650
· NTC / No Score (0, -1 or 1 to 5) to be allowed as per Product
details
19 Bureau policy
· No Deviation allowed for CIBIL Score 6 to 650, (>=6 - <=650:
NoGo)
· Guarantor / Joint trade line derogatory details can be omitted
with proper justification

Bureau Derogatory
20 · As per Annexure 1
Policy

· At least 1 own property in the name of the borrower or

the co-applicant or immediate family member of the co-
applicant.
· Immediate family members mean – father, mother,
Spouse, Son, Unmarried Daughter
· It may be a residential or a commercial property currently
owned.
· It may be self-occupied or let-out.
21 Own Property
· Property should be available at Operating Business
location
· Rented Residence cum office is NOT allowed.
· Both Rented Profiles with 3 years Business Vintage: Max
Loan amount to be capped at 10 Lakhs & CPV of Permanent
address to be verified.

Owned RCO: Max Loan amount to be capped at 10 Lakhs

· 12 Months Current account bank statement required.

· Overdraft / Cash credit accounts are allowed as per

method.

· Saving account statements can be considered provided

business transactions are observed for sole proprietorship.
Banking
22 · Clubbing of banking is allowed of same business.
Requirements
 Banking
22
Requirements
· Group company / Sister concerns accounts clubbing is not
allowed.
· Short banking can be clubbed with other accounts with
proper justification.
· Loan deposits, Interest credits, non-business-related
transactions, Group entity transfers to be deducted while
considering banking
· Minimum 80% of BTO
23 Banking Turnover
· i.e., Total Effective Credits versus Top line
· Not more than 2% in of Total cheque deposits (or)
Inward Cheque
24
Returns · Not more than 5 in last 6 months whichever is higher

Outward Cheque
25 · Not more than 7% in last 12 months
Returns

· 1 EMI bounces due to insufficient funds in last 3 months

are allowed and same must be paid within 8 days of due date.

26 EMI Returns · Overall, not more than 3 Emi bounces allowed in last 6
months due to insufficient funds and to be repaid within 8
days with sufficient mitigations.
· Technical bounces to be excluded and must be justified in
credit appraisal.
· Interest service in first 10 days (not more than 3 instances
OD / CC in last 12 months of late servicing)
27
Performance
· No overutilization in last 6 months (Not more than 95%)

HRP - High Risk

28 Profiles (Negative · As per Standard Policy
Industry list)

HRA - High Risk

29 · As per Standard Policy
Area (Negative)
OGL – Out of Geo
30 · As per Standard Policy
limits
31 Residence CPV · Mandatory for all Co-Applicants
· Mandatory at Business / Office premises
Business / Office · In case Operating business / manufacturing unit is
32
CPV different, in that case CPV to be conducted for those premises
– basis Local credit decision optionally
· For Loan amounts 1 Lakh to 5 Lakhs – Video PD
· For Loan amount > 5 Lakhs - Business premises visit by
33 Business Discussion Credit

· Photos with Name board and activity to be documented

34 RIU · RIU verification Mandatory for all documents
· Consumer CIBIL of all promoters and PG provider
· Commercial CIBIL of borrowing entity and group entities
other than proprietorship entities
· Negative country list
· PF Check
· CA Membership Check
Hygiene Check /
35 · MCA / ROC check (Insta financials etc.)
Online Verifications
· PAN Number check
· India Kanoon Check
· RBI Defaulter list
· Political exposure check (My Neta etc.)
· GSTR to be verified; No dues should be available (except
for last 3 months from login date
· Commercial CIBIL Score: CMR 1 to 8 allowed
· CMR 9 & CMR 10: NoGo / Not allowed
· Commercial CIBIL will be applicable for all Entities except
36 Commercial CIBIL for Proprietorship cases

· Group entities / Sister concerns commercial cibil is

also applicable to other than Proprietorship entities.

Following are to be considered as part of obligation:

· EMI of all term loans in the name of applicant entity. In

case of latest disbursed loan which is not reflected in CIBIL,
tentative EMI to be obligated, if sanction letter is not
available.

· Loan getting closed in next 3 months need not be

obligated.

Calculation of · EMIs of loans in the name of Director/Partner to be

37 obligated only in cases where EMI is been debited from
Obligation
Company’s/Firm’s/LLP’s Bank Account.
· In Case of Sole Proprietorship all Loans of Proprietor to be
obligated.
· EMI of the Ashv proposed loan to be obligated.
· For overdraft facilities, average of the interest charged
over last 6 months on the OD/CC account.
· For drop-line-overdrafts, 5% of the limit or actual if
available.
· Net Income = (Turnover as per last 12 months sales*
Margin)/12 — Monthly Obligation
· Amount so derived or ABB of last 12 month, whichever is
less, Will be used for calculating eligibility post applying 40%
38 Eligibility cap.
· Ashv Proposed EMI = Minimum of (Net Income or ABB *
40%)
 38 Eligibility

· Margin Manufacturer & Service• 8%/ Trader- 3%

CIBIL Derog Policy

CIBIL Derogatory - < = 3 years reported date, trade line from CIBIL pull date

Deviation
Criteria No Deviation Deviation, Level 1 , Level 2
Approval

Credit Card: 1 to Credit

Credit Card: 2001 to 1,00,000 Card: > 1
Overdue 2000 Lakh
Amount
Loans: 1 to 1000 Loans: 1001 to 50,000 Loans: >
50k

No DPD in last 6 > 30 days

months <= 30 days in last 6 months in last 6
months
DPD DPD > 60
No DPD in > 6 days in
months to 3 years DPD < 60 days in more than 6 months more than
6 months

Suit filed,
Negative Restructur
Status No negative Status - ed, write
off, settled

CIBIL Derogatory - > 3 years reported date, trade line from CIBIL pull date

Deviation
Criteria No Deviation Deviation, Level 1 , Level 2
Approval

Overdue Overdue: 1 to 5000 overdue: 5001 to 1 Lakh Overdue: >

Amount 1 Lakh
DPD < = 90 days in
DPD more than 3 years DPD > 90 days / DBT / SMA / LSS reported in any trade line
old trade line

Suit filed,
Restructur
Negative ed, Write
Status No negative Status Write off / settlement amount: < = 10k off /
settlement
amount: >
10k
Amendments
· Any changes or modification to this document can be signed off by Chief Risk Officer

Deviati
ons
S. No Deviation Code Deviation Type Deviation

Commerci
al CIBIL
1 DGPCMRSCR Policy Score less
than cut
off

CIBIL
2 DGPCIB1 Policy Derog
Level 1

CIBIL
3 DGPCIB2 Policy Derog
Level 2

Max Age
4 DGPAge1 Policy norms
not met

Min Age
5 DGPAge2 Policy norms
not met

Residence
stability
6 DGPRES Policy
less than
1 year

Office
stability
7 DGPOFF Policy
less than
1 year

Business
Vintage
8 DGPVIN Policy
Norms
not met

Inward
returns
9 DGPIW Policy
norms
not met
 Outward
returns
10 DGPOW Policy
norms
not met

Recent
EMI
11 DGPEMI Policy Bounces
norms
not met

Max
Unsecure
12 DGPMUL Policy d Loans
cap not
met

Residence
13 DGRRCPV Process or Office
CPV Refer

Residence
or Office
14 DGROCPV Process
CPV
Negative

Min
turnover
15 DGRTO1 Policy
norms
not met

Max
16 DGRTO2 Policy turnover
not met

High Risk
Profile /
17 DGPHRP Policy
NoGo
Profile

High Risk
Area /
18 DGPHRA Policy
Negative
Area

Any other
19 DGPOTH Policy Policy
Deviation
 Only Bank
statemen
t is refer
and rest
all results
are
positive.
In this
case bank
20 DGRFCU1 Refer
statemen
t
processin
g must
have
been
done
through
Perfios.

Report
marked
as refer
since docs
could not
be
verified
and CM
21 DGRFCU2 Refer
validates
the
correctne
ss
through
online
governme
nt portal
 Few
document
s could
not be
validated
due to
22 DGRFCU3 Refer
some
genuine
reason
and rest
all are
Positive

Report
negatives
however
there are
genuine
reason to
23 DGRFCU4 Negative
believe its
correctne
ss
through
other
sources

GST
Revenue
24 DGPSTO Policy Growth
(Y-o-Y)
not met

Banking
25 DGPBTO Policy Turnover
Not met
ate

NoGo

Wilful Default

ate

NoGo

Wilful Default
Approval Authority

NCH / NPH

ACH / SH

NCH / NPH

CRO

CRO

ACH / SH

ACH / SH

NCH / NPH

NCH / NPH
ACH / SH

NCH / NPH

CRO

ACH / SH

NCH / NPH

NCH / NPH

NCH / NPH

CRO

CRO

CRO
ACH / SH

ACH / SH
NCH / NPH

CRO

NCH / NPH

ACH / SH
Product Parameters
S No Parameter Policy description
1 Loan Type · Gati Loans
2 Locations · As per Approved Location list
3 Scope · Kirana stores & Medical stores
· Proprietorship Entities
4 Constitution · Registered/Non-Registered Partnership Firms
· Limited Liability Partnership firms
5 Business Type · Trading – Retail
6 Sourcing channels · All sourcing channels
7 End Use · Business development, working capital
8 Repayment Type · EMI – Monthly Repayment
9 Loan Amount · Min 1 Lakhs; Max 10 Lakhs
10 Tenor · 12, 18, 24 Months
11 Turnover · Min 50 Lakhs; Max 2 Crores
12 Business Vintage · 3 years
· Residence Stability: 12 Months
13 Stability · Business Stability: 12 Months
· To be verified through CPV / PD
Max Unsecured
14 · As per Grid / Annexure 1
Exposure
No of Unsecured
15 · As per Grid / Annexure 1
Loans

16 Internal Risk Rating · Not Applicable

· Min: 25 years; Max: 65 years (including proposed tenor)

17 Age · For Proprietors Age > 60, business heir / next generation to be
verified and/or collected as co-applicant
· As per the Document Policy
· KYC (ID & Address Proofs)
KYC & Document
18 · Shop & Estb License ( Live) - Business Proof
Policy
· Ownership Proof
· 12 Months Banking
· Co Applicant spouse to be collected for all Proprietorship concerns.

· In case spouse is not available or exceeds age norms, immediate

family members can be collected as Co applicants.
· Immediate family members are Father, Mother, Spouse, Son,
Unmarried Daughter
19 Co-Applicants
· 100% partners to be collected as co-applicants for Partnership firms.

· 51% of shareholders to be collected as co-applicants for Pvt ltd / Pub

Ltd firms (Closely held)
· Entities cannot be collected as Co-applicants.
· Applicant / Co-applicants should be Indian Residents only
 · Trans Union (CIBIL) Consumer bureau version 3 to be considered, cut
off as per grid / annexure 1

· NTC / No Score (0, -1 or 1 to 5) to be allowed as per Product details.

20 Bureau policy
· No Deviation allowed for CIBIL Score 6 to 650, (>=6 - <=650: NoGo)

· Guarantor / Joint trade line derogatory details can be omitted with

proper justification
Bureau Derogatory
21 · As per Annexure 2
Policy

· At least 1 own property in the name of the borrower or the co-

applicant or immediate family member of the co-applicant.

· Immediate family members mean – father, mother, Spouse,

Son, Unmarried Daughter
· It may be a residential or a commercial property currently
owned.
22 Own Property
· It may be self-occupied or let-out.
· Property should be available ONLY in operating business
location
· Rented Residence cum office is NOT allowed.
· Both Rented Profiles is NOT allowed.
· Owned Residence Cum Office: Max Loan amount to be capped
at 5 Lakhs
· 12 Months Current account bank statement required.

· Overdraft / Cash credit accounts are allowed as per method.

· Saving account statements can be considered provided

business transactions are observed for sole proprietorship.
· Clubbing of banking is allowed of same business.
Banking
23 · Group company / Sister concerns accounts clubbing is not
Requirements
allowed.
· Short banking can be clubbed with other accounts with proper
justification
· Loan deposits, Interest credits, non-business-related
transactions, Group entity transfers to be deducted while
considering banking
24 Banking Turnover · Not Applicable
· Minimum 1 Credit transactions per month required to consider
Minimum Credits banking
25
per Month
· Combined credits across all banking
Inward Cheque · Not more than 3% in of Total cheque deposits
26
Returns · Not more than 5 in last 6 months whichever is higher
Outward Cheque
27 · Not more than 7% in last 12 months
Returns
 · 1 EMI bounces due to insufficient funds in last 3 months are
allowed and same must be paid within 8 days of due date.

28 EMI Returns · Overall, not more than 3 Emi bounces allowed in last 6 months
due to insufficient funds and to be repaid within 8 days with
sufficient mitigations.
· Technical bounces to be excluded and must be justified in
credit appraisal.
OD / CC
29 · Not Applicable
Performance
HRP - High Risk
30 Profiles (Negative · As per Standard Policy
Industry list)
HRA - High Risk Area
31 · As per Standard Policy
(Negative)
OGL – Out of Geo
32 · As per Standard Policy
limits
33 Residence CPV · Mandatory for all Co-Applicants
· Mandatory at Business / Office premises
34 Business / Office CPV · In case Operating business / manufacturing unit is different, in
that case CPV to be conducted for those premises – basis Local
credit decision optionally
· For Loan amounts 1 Lakh to 5 Lakhs – Video PD
35 Business Discussion · For Loan amount > 5 Lakhs - Business premises visit by Credit

· Photos with Name board and activity to be documented

36 RIU · RIU verification Mandatory for all documents as specified
1. Consumer CIBIL of all promoters and PG provider
2. Commercial CIBIL of borrowing entity and group entities
other than proprietorship entities
3. Negative country list
4. PF Check
Hygiene Check / 5. CA Membership Check
37
Online Verifications
6. MCA / ROC check (Insta financials etc.)
7. PAN Number check
8. India Kanoon Check
9. RBI Defaulter list
10. Political exposure check (My Neta etc.)
· Commercial CIBIL Score: CMR 1 to 8 allowed
· CMR 9 & CMR 10: NoGo / Not allowed

1. Commercial CIBIL will be applicable for all Entities except

38 Commercial CIBIL for Proprietorship cases
 38 Commercial CIBIL

2. Group entities / Sister concerns commercial cibil is also

applicable to other than Proprietorship entities.

Rule Grid (Annexure 1)

Loan Grid
Loan Amount<(In
= 10
lacs)
to > 7.5 < = 7.5 to > 5

Tenure
(In 12 /18/24 12 or 18 Months
Months)

Shop
Vintage
> = 3 years > = 3 years
(at same
place)

BTO last
12 > = 100 lac > = 75 lac
months
Existing
USL
< = 40% < = 45%
POS /
BTO
Count of
<=5 <=6
USL
CIBIL
> = 675 > = 650
Score
CIBIL –
<= 30 in last 3 months <= 45 in last 3 months
DPD

Overdue
<= 5000 <= 7500
Amount

EMI /
0.5 0.75
ABB

CIBIL Derog Policy (Annexure 2)

CIBIL Derogatory - < = 3 years reported date, trade line from CIBIL pull date

Criteria No Deviation Deviation, Level 1

 Credit Card: 1 to 2000 Credit Card: 2001 to 1,00,000
Overdue
Amount
Loans: 1 to 1000 Loans: 1001 to 50,000

No DPD in last 6
months <= 30 days in last 6 months

DPD
No DPD in > 6 months
to 3 years DPD < 60 days in more than 6 months

Negative
Status No negative Status -

CIBIL Derogatory - > 3 years reported date, trade line from CIBIL pull date

Criteria No Deviation Deviation, Level 1

Overdue Overdue: 1 to 5000 overdue: 5001 to 1 Lakh

Amount
DPD < = 90 days in
DPD more than 3 years old DPD > 90 days / DBT / SMA / LSS reported in any trade line
trade line

Negative
Status No negative Status Write off / settlement amount: < = 10k

Eligibility Method: Average Bank Balance Program (ABB)

· 12 Months Banking required (refer Banking annexure for further details)
· Clubbing of accounts is allowed, saving accounts can be considered in case Business transactions are reflecting, OD/CC all
· Even with standalone OD/CC account is accepted for eligibility, ABB will be calculated from balances after limit.
· standalone (only OD/CC account without current accounts) eligibility based on OD/CC, Max Loan amount capped to 5 Lak
· Wherever OD/CC account is considered, 1-year OD/CC statement to be uploaded.
· ABB to be computed from EOD balances of each day.
· While calculating ABB Loan deposits, Interest credits, non-business-related transactions, Group entity transfers to be ded
· Proposed EMI to be capped at Multiplier of ABB (i.e. Ashv Loan EMI = ABB * Multiplier – 0.5)
· Multipliers are as per Grid / Annexure 1
Applied
Loan
1,000,000
Amount
(INR)

Applied
Tenor in 24
Months

Applied
24%
ROI

ABB 200,000

ABB Cap 50%

Ashv
Proposed
80,000
EMI after
ABB Cap

Eligible
Loan ₹ 1,000,000
Amount

Deviati
ons
S. No Deviation Code Deviation Type

1 DBPCMRSCR Policy

2 DBPCIB1 Policy

3 DBPCIB2 Policy

4 DBPAge1 Policy
5 DBPAge2 Policy

6 DBPRES Policy

7 DBPOFF Policy

8 DBPVIN Policy

9 DBPCRD Policy

10 DBPIW Policy

11 DBPOW Policy

12 DBPEMI Policy

13 DBPMUL Policy

14 DBRRCPV Process
15 DBROCPV Process

16 DBRTO1 Policy

17 DBRTO2 Policy

18 DBPHRP Policy

19 DBPHRA Policy

20 DBPOTH Policy
21 DBRFCU1 Refer

22 DBRFCU2 Refer
 23 DBRFCU3 Refer

24 DBRFCU4 Negative

Amendments
· Any changes or modification to this document can be signed off by Chief Risk Officer
 < = 5 Lac

12 Months

> = 3 years

> = 50 lac

< = 50%

<=7

> = 650

<= 60 in last 3 months

<= 10000

pull date

Deviation
, Level 2 NoGo
Approval
 Credit
Card: > 1 -
Lakh
Loans: > -
50k
> 30 days
in last 6 -
months

DPD > 60
days in
more than -
6 months

Suit filed,
Restructur Wilful
ed, write Default
off, settled

ull date

Deviation
, Level 2 NoGo
Approval

Overdue: > -
1 Lakh

Suit filed,
Restructur
ed, Write Wilful
off / Default
settlement
amount: >
10k

nsactions are reflecting, OD/CC allowed

om balances after limit.
Max Loan amount capped to 5 Lakhs.

, Group entity transfers to be deducted.

Deviation Approval Authority

Commerci
al CIBIL
Score less NCH / NPH
than cut
off

CIBIL
Derog ACH
Level 1

CIBIL
Derog NCH / NPH
Level 2

Max Age
norms CRO
not met
Min Age
norms CRO
not met

Residence
stability
ACH
less than
1 year

Office
stability
ACH
less than
1 year

Business
Vintage
NCH / NPH
Norms
not met

Minimum
Credit
NCH / NPH
norms
not met

Inward
returns
NCH / NPH
norms
not met

Outward
returns
ACH
norms
not met

Recent
EMI
Bounces NCH / NPH
in last 3
Months

Max
Unsecure
d Loans CRO
cap not
met

Residence
or Office ACH
CPV Refer
Residence
or Office
NCH / NPH
CPV
Negative

Min
turnover
NCH / NPH
norms
not met

Max
turnover NCH / NPH
not met

High Risk
Profile /
CRO
NoGo
Profile

High Risk
Area /
CRO
Negative
Area

Any other
Policy CRO
Deviation
Only Bank
statemen
t is refer
and rest
all results
are
positive.
In this
case bank
ACH
statemen
t
processin
g must
have
been
done
through
Perfios.

Report
marked
as refer
since docs
could not
be
verified
and CM
ACH
validates
the
correctne
ss
through
online
governme
nt portal
 Few
document
s could
not be
validated
due to
NCH
some
genuine
reason
and rest
all are
Positive

Report
negatives
however
there are
genuine
reason to
CRO
believe its
correctne
ss
through
other
sources
 Small Ticket Secured Loans – Policy Note
Product Parameters
S No Parameter Policy description
1 Loan Type · Small Ticket Secured loans
2 Locations · As per Approved Location list
· Proprietorship Entities
· Registered/Non-Registered Partnership Firms
3 Constitution
· Limited Liability Partnership firms
· Private Limited firms
4 Business Type · Manufacturing, Trading – wholesale, Trading – Retail,
Services

5 Sourcing channels · All sourcing channels

6 End Use · Business development, working capital
7 Repayment Type · EMI – Monthly Repayment
8 Loan Amount · Min 5 Lakhs; Max 25 Lakhs
· Min Tenor: 12 Months
9 Tenor
· Max Tenor: 84 Months (in intervals of 6 months)
10 Turnover · Min 25 lacs; Max 5 Crores
11 Business Vintage · 3 years

· Residence Stability: 12 Months (Not Applicable for

SORP)
12 Stability
· Business Stability: 12 Months
· To be verified through CPV / PD
No of Unsecured
13 · As per Assessment Grid
Loans

· Min: 25 years; Max: 65 years (including proposed tenor)

14 Age
· For Proprietors Age > 60, business heir / next
generation to be verified and/or collected as co-applicant

· As per the Document Policy

· KYC (ID & Address Proofs)
· Business Proof
15
KYC & Document · Ownership Proof
Policy · 12 Months Banking
· 2 years ITR / financial statements to be collected (including
annexures)
· Collateral Documents
· Co Applicant spouse to be collected for all Proprietorship
entities.
 · In case spouse is not available or exceeds age norms,
immediate family members can be collected as Co applicants.

· Immediate family members are Father, Mother, Spouse, Son,

Unmarried Daughter
· 100% partners to be collected as co-applicants for
16 Co-Applicants Partnership firms.
· 51% of shareholders to be collected as co-applicants for Pvt
ltd / Closely held Pub Ltd firms (unlisted)
· Personal Guarantee of Managing Director and shareholders
holding more than 20% stake in the company for all Pvt ltd /
Closely held Pub Ltd firms (unlisted)
· Entities cannot be collected as Co-applicants.
· Co-applicants can be Indian Residents only
· All property owner to be co applicant of loan
· Trans Union (CIBIL) Consumer bureau version 3 to be
considered, cut off 650.
· NTC / No Score (0, -1 or 1 to 5) to be allowed as per Product
17 Bureau policy details.
· No Deviation allowed for CIBIL Score < 650.
· Guarantor / Joint trade line derogatory details can be
omitted with proper justification

Bureau Derogatory
18 · As per Annexure 1
Policy

· 12 Months Current account bank statement required.

· Overdraft / Cash credit accounts are allowed as per

method.

· Saving account statements can be considered provided

business transactions are observed for sole proprietorship.
Banking
19 · Clubbing of banking is allowed of same business.
Requirements
· Group company / Sister concerns accounts clubbing is
not allowed.
· Short banking can be clubbed with other accounts with
proper justification.
· Loan deposits, Interest credits, non-business-related
transactions, Group entity transfers to be deducted while
considering banking
· Minimum 5 Credit transactions per month required to
Minimum Credits consider banking.
20
per Month
· Combined credits across all banking
· Not more than 2% in of Total cheque deposits (or)
Inward Cheque
21
Returns · Not more than 5 in last 6 months whichever is higher
 Outward Cheque
22 · Not more than 7% in last 12 months
Returns

· 1 EMI bounces due to insufficient funds in last 3 months

are allowed and same must be paid within 8 days of due
date.

23 EMI Returns · Overall, not more than 3 Emi bounces allowed in last 6
months due to insufficient funds and to be repaid within 8
days with sufficient mitigations.
· Technical bounces to be excluded and must be justified
in credit appraisal.
Days in Interest
24 service, · To be Less than 10 days per quarter
TOD/Quarter:

HRP - High Risk

25 Profiles (Negative · As per Standard Policy
Industry list)

HRA - High Risk

26 · As per Standard Policy
Area (Negative)
OGL – Out of Geo
27 · As per Standard Policy
limits
· Mandatory for all Co-Applicants
28 Residence CPV · SVR (Site Verification report) confirming details to be
submitted by Relationship Manager / Sales Manager

· Mandatory at Business / Office premises

Business / Office
29 · SVR (Site Verification report) confirming details to be
CPV
submitted by Relationship Manager / Sales Manager

· Business premises and collateral security to be visited

Business by Credit Manager
30
Discussion
· Photos with Name board and activity to be documented

31 RIU · RIU verification Mandatory for all documents

· Consumer CIBIL of all promoters and PG provider

· Commercial CIBIL of borrowing entity and group

entities other than proprietorship entities
· Negative country list
Hygiene Check / · PF Check
32 Online
Verifications · CA Membership Check
· MCA / ROC check (Insta financials etc.)
· PAN Number check
· India Kanoon Check
· RBI Defaulter list
 · Political exposure check (My Neta etc.)
· Commercial CIBIL Score: CMR 1 to 8 allowed
· CMR 9 & CMR 10: NoGo / Not allowed
33 Commercial CIBIL · Commercial CIBIL will be applicable for all Entities
except for Proprietorship cases
Group entities / Sister concerns commercial cibil is also
applicable to other than Proprietorship entities.
Equitable or Registered Mortgage of below properties: -

• Residential Property – Bungalow/Flat/Row House

• Commercial Property – Commercial Building /

Commercial Complex / Office

34 Collateral Above properties should be free from any charge i.e. there
should be no other loan running on the property offered as a
security. Leasehold with permission/NOC of respective
governing body.

· One TSR for 13 years (Title Search Report) and

Valuation Report will be mandatory. (Not more than 3
months old from the date of disbursement).
· 6 months old property for Gift deed
Below Properties are not acceptable
· Chawl / Slum
· School /Hostel / Hospital / College / Mall / Place of faith

Not Acceptable · Third Party Property

35
Collateral · Vacant Property
· Agri Land /Open Plot /Half or Partial Constructed
Property
· Pagdi Properties
· POA Property

ASSESSMENT GUIDELINE:
Loan Grid
Loan
Amount < = 25 to > 20 < = 20 to > 15 <=15 to >10
(In lacs)
Tenure (In up to 84 Months up to 84 Months up to 84 Mo
Months)
Business > = 5 years > = 5 years >= 5 years
Vintage

BTO last 12
months > = 200 lac > = 100 lac >= 60 lac

Count of <=4 <=4 <=6

USL
CIBIL Score > = 700 > = 700 >=650

EMI / ABB EMI/ABB > 0.50 & <=0EMI/ABB >0.75 & <=1 EMI/ABB > 1

type of
Security
(located at
sourcing SORP/SOCP SORP/SOCP SORP/SOCP
branch
only)

SORP: 70% SORP: 70% SORP: 70%

LTV
SOCP: 65% SOCP: 65% SOCP: 65%
ITR for 2 Yes Yes Yes
years
Positive Yes Yes Yes
net worth
Sales
Growth Minimum 5% Minimum 5% No Decline
YoY
Positive Yes Yes Yes
PAT

BTO %
(Total
Sales / 85% 80% 70%
Effective
Credits)

CIBIL Derog Policy

CIBIL Derogatory - < = 3 years reported date, trade line from CIBIL pull date

Deviation
Criteria No Deviation Deviation, Level 1 , Level 2
Approval

Credit Card: 1 to Credit

Credit Card: 2001 to 1,00,000 Card: > 1
Overdue 2000 Lakh
Amount
Loans: 1 to 1000 Loans: 1001 to 50,000 Loans: >
50k

No DPD in last 6 > 30 days

months <= 30 days in last 6 months in last 6
months
DPD
DPD DPD > 60
No DPD in > 6 days in
months to 3 years DPD < 60 days in more than 6 months more than
6 months

Suit filed,
Negative Restructur
Status No negative Status - ed, write
off, settled

CIBIL Derogatory - > 3 years reported date, trade line from CIBIL pull date

Deviation
Criteria No Deviation Deviation, Level 1 , Level 2
Approval

Overdue Overdue: 1 to 5000 overdue: 5001 to 1 Lakh Overdue: >

Amount 1 Lakh
DPD < = 90 days in
DPD more than 3 years DPD > 90 days / DBT / SMA / LSS reported in any trade line
old trade line

Suit filed,
Restructur
Negative ed, Write
Status No negative Status Write off / settlement amount: < = 10k off /
settlement
amount: >
10k

Amendments
· Any changes or modification to this document can be signed off by Chief Risk Officer

Deviati
ons
S. No Deviation Code Deviation Type Deviation
CIBIL
1 DCPCIB1 Policy Derog
Level 1

CIBIL
2 DCPCIB2 Policy Derog
Level 2

Max Age
3 DCPAge1 Policy norms
not met

Min Age
4 DCPAge2 Policy norms
not met
 Residence
stability
5 DCPRES Policy
less than
1 year

Office
stability
6 DCPOFF Policy
less than
1 year

Business
Vintage
7 DCPVIN Policy
Norms
not met

Inward
returns
8 DCPIW Policy
norms
not met

Outward
returns
9 DCPOW Policy
norms
not met

Recent
EMI
10 DCPEMI Policy Bounces
norms
not met

Max
Unsecure
11 DCPMUL Policy d Loans
cap not
met

Min
turnover
12 DCRTO1 Policy
norms
not met

Max
13 DCRTO2 Policy turnover
not met

High Risk
Profile /
14 DCPHRP Policy
NoGo
Profile
 High Risk
Area /
15 DCPHRA Policy
Negative
Area

Any other
16 DCPOTH Policy Policy
Deviation

Only Bank
statemen
t is refer
and rest
all results
are
positive.
In this
case bank
17 DCRFCU1 Refer
statemen
t
processin
g must
have
been
done
through
Perfios.
 Report
marked
as refer
since docs
could not
be
verified
and CM
18 DCRFCU2 Refer
validates
the
correctne
ss
through
online
governme
nt portal

Few
document
s could
not be
validated
due to
19 DCRFCU3 Refer
some
genuine
reason
and rest
all are
Positive

Report
negatives
however
there are
genuine
reason to
20 DCRFCU4 Negative
believe its
correctne
ss
through
other
sources
 EMI / ABB
21 DCPABB Policy norms
not met

22 DCPCRD Policy Minimum Cr

Banking
23 DCPBTO Policy turnover
not met

Negative
Net worth
24 DCPNW Policy or
Negative
PAT
cy Note
5 to <= 10

up to 84 Months

> = 3 years

> = 40 lac

<=6
 > = 650

EMI/ABB > 1.5 & <=2

SORP/SOCP

SORP: 70%
SOCP: 65%

NA

NA

NA

NA

NA

te

NoGo

-
 -

Wilful
Default

NoGo

Wilful
Default

Approval Authority

ACH

NCH / NPH

CRO

CRO
ACH

ACH

NCH / NPH

NCH / NPH

ACH

NCH / NPH

CRO

NCH / NPH

NCH / NPH

CRO
CRO

CRO

ACH
ACH

NCH / NPH

CRO
NCH / NPH

NCH / NPH

NCH / NPH

NCH / NPH
 Mansha (Women Entrepreneurs) Loan – Policy Not
Product Parameters
S No Parameter Policy description
1 Loan Type · Unsecured loans – Retail Segment
2 Locations · As per Approved Location list
3 Scope · Women Entrepreneurs only
4 Constitution · Proprietorship Entities only
5 Business Type · Manufacturing, Trading – wholesale, Trading – Retail, Services
6 Sourcing · All sourcing channels
7 End Use · Business development
8 Repayment Type · EMI – Monthly Repayment
9 Loan Amount · Min 50,000; Max 3 Lakhs
10 Tenor · Min: 12; Max :36 Months; intervals of 6 Months allowed
11 Age · Min: 23 years; Max: 65 years (including proposed tenor)
· Min 3 Lakhs; Max 20 Lakhs
12 Turnover
· Turnover measured as per Banking Credits
· For Loan amount 50k to 1 Lakhs: 2 years
13 Business Vintage
· For >1 Lakhs: 3 years
· Residence Stability: 12 Months
14 Stability · Business Stability: 12 Months
· To be verified through CPV / PD
Max Existing No of · 2 existing unsecured loans, i.e., we will be 3 rd lender.
15
Loans · Unsecured is PL & BL
Internal Risk · K (K1, K2, K3), R (R2, R3) to be processed.
16
Rating · R1, N (N1, N2, N3) to be Rejected
As per the Document Policy
1. KYC (ID & Address Proofs)
2. Business Proof (optional): Can be confirmed through RM visit
KYC & Document (SVR) or PD, mandatory for loan amount > 1 lakhs.
17
Policy
3. Ownership Proof: required for > 1 Lakhs (<1 Lakhs not
required)
4. 12 Months Banking
· 1 co-applicant mandatory,
18 Co-Applicants · Co applicant can be immediate family member, if immediate family
member not possible then Nonfamily members can also be considered

· Trans Union (CIBIL) Consumer bureau version 3 to be considered, cut off

650.
19 Bureau policy
· No Score (0, -1 or 1 to 5) to be allowed as per Product details.
· No Deviation allowed for CIBIL Score 6 to 650, (>=6 - <=650: NoGo)
 Bureau
20 · As per annexure 1
Derogatory Policy

· Both Rented Profiles: Max Loan amount to be capped at 1 Lakh.

· For > 1 Lakhs, at least 1 own property in the name of the borrower
or immediate family member is required.
· Immediate family members mean – father, mother, Spouse, Son,
Unmarried Daughter
21 Own Property
· It may be a residential or a commercial property currently owned.

· It may be self-occupied or let-out.

· Property available in any Ashv operating location is acceptable.

· Rented Residence cum office is NOT allowed

· 12 Months Current account bank statement required.

· Overdraft / Cash credit accounts are allowed as per method.

· Saving account statements can be considered provided business

transactions are observed for sole proprietorship.
· Clubbing of banking is allowed of same business.
Banking
22
Requirements · Group company / Sister concerns accounts clubbing is not allowed.

· Short banking can be clubbed with other accounts with proper

justification.

· Loan deposits, Interest credits, non-business-related transactions,

Group entity transfers to be deducted while considering banking

Minimum Credits · Minimum 2 Credit transactions per month required to consider

23
per Month banking

Inward Cheque · Not more than 2 per month

24
Returns · Not more than 6 in 12 months banking
Outward Cheque · Not more than 5 per month
25
Returns · Not more than 10 in 12 months banking
· 1 EMI bounces due to insufficient funds in last 3 months are
allowed.
· Overall, not more than 3 Emi bounces allowed in last 6 months
26 EMI Returns due to insufficient funds and to be repaid within 8 days with sufficient
mitigations.
· Technical bounces to be excluded and must be justified in credit
appraisal.

HRP - High Risk

27 · As per Standard Policy
Profiles (Negative)
 HRA - High Risk
28 · As per Standard Policy
Area (Negative)
OGL – Out of Geo
29 · As per Standard Policy
limits
30 Residence CPV · Mandatory Residence CPV visit
· Mandatory at Business / Office premises visit report.
Business / Office In case Operating business / manufacturing unit is different, in that case
31
CPV CPV to be conducted for those premises – basis Local credit decision
optionally
Business · Tele / Video PD
32
Discussion · Photos with Name board and activity to be documented
33 RIU · RIU verification Mandatory for all documents (Risk Intelligence
Unit)
1. Consumer CIBIL
2. AML Check
Hygiene Check / 3. PAN Number check
34 Online
Verifications 4. India Kanoon Check
5. RBI Defaulter list
6. Political exposure check (My Neta etc.)

CIBIL Derog Policy

CIBIL Derogatory - < = 3 years reported date, trade line from CIBIL pull date

Criteria No Deviation Deviation, Level 1

Credit Card: 1 to
Credit Card: 2001 to 1,00,000
Overdue 2000
Amount
Loans: 1 to 1000 Loans: 1001 to 50,000

No DPD in last 6
months <= 30 days in last 6 months

DPD
No DPD in > 6
months to 3 years DPD < 60 days in more than 6 months

Negative
Status No negative Status -

CIBIL Derogatory - > 3 years reported date, trade line from CIBIL pull date
Criteria No Deviation Deviation, Level 1

Overdue Overdue: 1 to 5000 overdue: 5001 to 1 Lakh

Amount
DPD < = 90 days in
DPD more than 3 years DPD > 90 days / DBT / SMA / LSS reported in any trade line
old trade line

Negative
Status No negative Status Write off / settlement amount: < = 10k

Eligibility Method: ABB Method

· ABB to be computed from 365 days end of day balance
· ABB Capping of 55%
· i.e. our proposed EMI should be capped to Max 55% % of ABB
· While calculating ABB Loan deposits, Interest credits, non-business-related transactions, Group entity transfers t

Applied
Loan 300000
Amount
Applied
36
Tenor
Applied
24%
ROI

ABB 20000
ABB Cap 50%
ABB after
10000
cap

Proposed
EMI after 10000
ABB Cap

Eligible
Loan ₹ 254,000
Amount
Deviations

S. No Deviation Code Deviation Type

1 DMPCIB1 Policy

2 DMPCIB2 Policy

3 DMPAge1 Policy

4 DMPAge2 Policy

5 DMPRES Policy

6 DMPOFF Policy

7 DMPVIN Policy

8 DMPCRD Policy

9 DMPIW Policy

10 DMPOW Policy
11 DMPEMI Policy

12 DMPMUL Policy

13 DMRRCPV Process

14 DMRNCPV Process

15 DMRTO1 Policy

16 DMRTO2 Policy

17 DMPHRP Policy

18 DMPHRA Policy

19 DMPOTH Policy
20 DMRFCU1 Refer

21 DMRFCU2 Refer
 22 DMRFCU3 Refer

23 DMRFCU4 Negative

Amendments
· Any changes or modification to this document can be signed off by Chief Risk Officer
n – Policy Note
ull date

Deviation
, Level 2 NoGo
Approval

Credit
Card: > 1 -
Lakh
Loans: > -
50k
> 30 days
in last 6 -
months

DPD > 60
days in
more than -
6 months

Suit filed,
Restructur Wilful
ed, write Default
off, settled

ll date
 Deviation
, Level 2 NoGo
Approval

Overdue: > -
1 Lakh

Suit filed,
Restructur
ed, Write Wilful
off / Default
settlement
amount: >
10k

actions, Group entity transfers to be deducted

Deviation Approval Authority
CIBIL
Derog ACH
Level 1

CIBIL
Derog NCH / NPH
Level 2

Max Age
norms CRO
not met

Min Age
norms CRO
not met

Residence
stability
ACH
less than
1 year

Office
stability
ACH
less than
1 year

Business
Vintage
ACH
Norms
not met

Minimum
Credit
ACH
norms
not met

Inward
returns
ACH
norms
not met

Outward
returns
ACH
norms
not met
Recent
EMI
Bounces NCH / NPH
in last 3
Months

Max
Unsecure
d Loans NCH / NPH
cap not
met

Residence
or Office
ACH
CPV:
Refer

Residence
or Office
NCH / NPH
CPV:
Negative

Min
turnover
ACH
norms
not met

Max
turnover ACH
not met

High Risk
Profile /
CRO
NoGo
Profile

High Risk
Area /
CRO
Negative
Area

Any other
Policy CRO
Deviation
Only Bank
statemen
t is refer
and rest
all results
are
positive.
In this
case bank
ACH
statemen
t
processin
g must
have
been
done
through
Perfios.

Report
marked
as refer
since docs
could not
be
verified
and CM
ACH
validates
the
correctne
ss
through
online
governme
nt portal
 Few
document
s could
not be
validated
due to
NCH / NPH
some
genuine
reason
and rest
all are
Positive

Report
negative
however
there are
genuine
reason to
CRO
believe its
correctne
ss
through
other
sources