‘Introduction to Banking, Loan Products and KYC Norms May 6, 2021, To provide exposure to the students in the area of Debt Collections, Don Bosco Tech, Sabbavaram, Andhra Pradesh center has organized a virtual guest lecture on ‘Introduction to Banking, Loan Products, and KYC Norms. The lecture was delivered by Mrs. Sumathi, Trainer of Debt Recovery Agent, Don Bosco Skill Machine (DBSM), Bangalore. The lecture focused on the various loan products and KYC Norms. Also explained the basic introduction of banking its functions and the structure of Indian Banking. She showed the structure of Indian Banks. Scheduled Banks Non-Scheduled BanksAlso covered are the banks that come under scheduled banks and non-scheduled banks. She also talked about the importance or role of Debt Recovery Agents that ‘Debt Recovery Agents reach out to customers to collect payment for overdue bills, loans or other payments.
They manage overdue accounts in the organization. They remind customers of their outstanding and long overdue bills that are unpaid. This they do via phone calls, emails, and through sending notices. Mrs. Sumathi then elucidated some vital concepts in debt recoveries like Legal aspects, debt collection procedure, and operations in debt collection. During the session, she shared the PowerPoint Presentation, it helped students to understand the concept very clearly. The lecture was highly insightful and threw light on several dimensions of debt recovery. Towards the end, she covered the various categories of loans such as; Mortgage Pledge HypothecationWe extend our deep gratitude to Mrs. Sumathi, who made the students aware of the various legal aspects and different categories of loan products. The session ended with a doubt clearing session by Mrs. Sumathi. On the whole, the entire session was very interactive and interesting.