Hero FinCorp Interview Questions and Answers

We can resolve the issue by contacting the customer, offering payment plans, and escalating if necessary.

• Contact the customer to remind them of the missed payment and inquire about the reason for delay.

• Offer flexible payment plans or extensions to help the customer catch up on their payments.

• Escalate the issue to a higher authority or collections agency if the customer continues to default on payments.

• Maintain cle...read more

I will manage the collection process by implementing a systematic approach, tracking payments, following up with customers, and escalating issues when necessary.

• Implementing a systematic approach to track payments and monitor outstanding balances

• Following up with customers regularly to ensure timely payments

• Escalating collection issues to higher management or legal department if necessary

• Offering payment plans or ...read more

An account is a record of financial transactions for a specific asset, liability, equity, revenue, or expense.

• An account is used to track the financial activity related to a specific category.

• Accounts are typically organized in a chart of accounts.

• Each account has a unique number or code for identification.

• Examples of accounts include cash, accounts receivable, and sales revenue.

DSCR stands for Debt Service Coverage Ratio, it is important while lending to assess the borrower's ability to repay the loan.

• DSCR is a financial ratio that measures a company's ability to cover its debt obligations with its operating income.

• A higher DSCR indicates that the company has more income available to meet its debt obligations.

• Lenders use DSCR to evaluate the risk of lending money to a borrower, as a low ...read more

To achieve incentive and growth, focus on setting clear goals, providing training and support, fostering a positive work environment, and implementing effective sales strategies.

• Set clear and achievable goals for the territory manager to incentivize performance.

• Provide comprehensive training and ongoing support to enhance skills and knowledge.

• Create a positive work environment that encourages teamwork, collaborati...read more

The leverage ratio can be calculated by dividing the total debt by the total equity.

• Total debt divided by total equity

• Can be expressed as a percentage

• Used to measure a company's financial leverage

• Higher ratio indicates higher financial risk

• Lower ratio indicates lower financial risk