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    Compliane in Mfi

    Uploaded by

    Sumit Kumar Sharma
    1. An audit found discrepancies in KYCs and agreements at two branches in Bareilly and Rudrapur regions. Missing or incorrect client documentation and loan details were identified. 2. The operations department was tasked with taking action to resolve the discrepancies. Actions taken included re-doing missing client signatures and updating loan details. 3. Timelines of 30 days or less were set for resolving the issues and ensuring future compliance. Branch managers and regional managers were required to sign off on the compliance submissions.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Compliane in Mfi

    Uploaded by

    Sumit Kumar Sharma
    44 views11 pages
    1. An audit found discrepancies in KYCs and agreements at two branches in Bareilly and Rudrapur regions. Missing or incorrect client documentation and loan details were identified. 2. The operations department was tasked with taking action to resolve the discrepancies. Actions taken included re-doing missing client signatures and updating loan details. 3. Timelines of 30 days or less were set for resolving the issues and ensuring future compliance. Branch managers and regional managers were required to sign off on the compliance submissions.

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    compliane in mfi

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    1. An audit found discrepancies in KYCs and agreements at two branches in Bareilly and Rudrapur regions. Missing or incorrect client documentation and loan details were identified. 2. The operations department was tasked with taking action to resolve the discrepancies. Actions taken included re-doing missing client signatures and updating loan details. 3. Timelines of 30 days or less were set for resolving the issues and ensuring future compliance. Branch managers and regional managers were required to sign off on the compliance submissions.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    44 views11 pages

    Compliane in Mfi

    Uploaded by

    Sumit Kumar Sharma
    1. An audit found discrepancies in KYCs and agreements at two branches in Bareilly and Rudrapur regions. Missing or incorrect client documentation and loan details were identified. 2. The operations department was tasked with taking action to resolve the discrepancies. Actions taken included re-doing missing client signatures and updating loan details. 3. Timelines of 30 days or less were set for resolving the issues and ensuring future compliance. Branch managers and regional managers were required to sign off on the compliance submissions.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 11

    Discrepancies found in KYCs

    No. Region Branch ID Center No. Member ID


    1 Bareilly Usawan 392000060 3920004303
    2 Bareilly Usawan 392000060 3920004303

    Discrepancies found in Agreement


    No. Region Branch Center No. Member ID
    Rudrapur Rudrapur 392000060 3920004303
    d in KYCs
    Discrepancy
    Osv not done
    Clients docs were not self attested.

    Agreement
    Discrepancy
    BM /CSO / CL/ sign were missed
    Branch audit complia
    Branch Mr.Abhishek
    Branch Sitarganj
    Manager Kumar
    Mr.Dhananj
    Territory
    Auditor Name Satyendra singh ay
    Manager
    Upadhyay
    Due Date
    Date Report
    for
    Submitted by 21-Mar-18 30-Apr-18
    Compliance
    Audit Team
    by Ops
    Date of
    verificatio
    Verifying
    n
    officer
    Issue to resolve (Compliance) (center/cli
    (Operation
    ent visit
    dept)
    date and
    1.Statutory Compliance and Infra Time)
    No. of branch staff is not up to mark as
    All Notices were not displayed on the no
    Number of Tabs are not equal to number

    Record Keeping
    Centre Monitoring not maintained & upd
    Key Movement Register not maintained &
    `Efficient fund management
    Cash Book (Physical/printed) not attache

    FA & Stationary`
    All Assets not Properly Tagged

    Branch Operations
    1. Center Meeting
    Center No . Issues
    Centre meeting don’t
    start with Verbal
    Contract (applicable
    only for above 50 %
    attendance )
    CSO don’t check Seating pattern followed
    Trend of attendance of past 4 centre meeting belo
    Centre meeting time of system don’t match with Ac
    No. of Instalment of all Loan Cards not matched wi
    127000368 Clients are not Aware
    Loan utilization not check before 45 days
    of interest rate
    (approx.),Processing
    fee and Insurance fee
    Centre Members are not Aware of Customer Grievanc
    No Understanding of Joint Liability (Observation)
    Centre meeting didn’t
    End with Verbal
    Contract (applicable
    only for above 50 %
    attendance )
    All Loan Cards not updated (Photo and signatures et

    2 .Area Allocation , Village survey , OGM , Group Formation , KYC collection & CB check and CGT
    Route map not prepared for Branch

    3. GRT

    4. Disbursement

    Branch Functioning & Monitoring


    DC not collected from clients within 30
    days (from death date) and uploaded in
    LMS for further action
    No Inter branch rotation of CSO (within

    HR
    All employees don’t have valid vehicle

    Discrepancies in KYCs and Agreem


    Discrepancies found in KYCs

    Center No. Cust/Member ID Client`s Name


    Disbursem

    160000096 1600005583 NASREEN 12/5/2017


    160000096 1600005583 NASREEN 12/5/2017

    Discrepancies found in Agreemen

    Center No. Cust/Member ID Client`s Name


    Disbursem

    160000096 1600005583 NASREEN 12/5/2017


    160000124 1600007092 BASANTI 12/5/2017
    Branch audit compliance
    Regional
    Region Name Rudrapur
    Manager

    Audit Evaluation Period from 1-Oct-17 To Date

    Date of Audit
    Date of Compliance Submission by Ops Compliance
    Verification

    Timelin
    e for
    What is the action taken?
    resoluti
    on
    ormation , KYC collection & CB check and CGT

    Discrepancies in KYCs and Agreement


    Discrepancies found in KYCs
    Timelin
    e for
    Discrepnacies What is the action taken? ( Operations)
    resoluti
    on
    Osv Sign Was missing
    Osv Sign Was missing

    Discrepancies found in Agreement


    Timelin
    e for
    Discrepnacies What is the action taken? ( Operations)
    resoluti
    on
    Loan Details was Not updated like as- R
    Loan Details was Not updated like as- R
    0

    31-Dec-17

    Signature of the
    compliant
    Signature of the
    compliant

    Signature of the
    compliant

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