Inter Office Memo 14-March-2017

To:
Mr. Praveen P Kadle
Managing Director

Puneet Sharma
CFO – Tata Capital

Mr. Govind Sankaranarayanan

COO – Retail Business & Housing Finance

Mr. Deepak Shimpi

Head Risk – TCL

Mr. Ramachandra Mallya

Head – CF & AB

From:
Mr. Vikram Verma
Head Risk – CFAB

Mr. Manu Singh

Head Sales - Consumer Finance – CFAB

Mr. Sudhir Tandon

Head Credit – Vehicle Loans

Mr. Premanshu Chatterjee

Head Operations – CFAB

Mr.Mayuresh Durve
Head-RIC

Mr.Vineet Tripathi
Product Head

Mr. Karun Gupta

Product Manager-Auto loans

Gopi Gujarathi
Product Risk Manager – Auto Loans

1
Overview (Page-3)
Profiling Norms

  Approved borrower profile (Page -3)
  Special Profile A and B (Page -4)
  Profile Codes (Page -5)

Funding Norms

   10-20 Lacs/ > one vehicle – Income, LTV, Tenure and asset classification (Page – 6-7)
   Deviatiable Credit Norms (Page – 8 to 10)
   Group exposure, CIBIL Norms, RCU norms (Page – 10 - 11)
   Product Variant (Page - 12-17)

 Captive Usage Financial Norms (Page - 17)

Deviation Rationalisation – Amendment Nov-2016 (Page 18-22)

Commercial Policy – Used Car

   Common Name for Commercial Usage (Page – 23)

   Commercial Income based program for loan amount up to Rs. 7 Lakhs (Page - 24)
   Fleet Operator Product (Only for repurchase cases) (Page -25)
   Refinance to Other fleet operators (Page -26)
   Refinance to large fleet operators) (Page -27)

 Surrogates Product

   LOW LTV- KYC based product and Low Banking Product (Page – 28)
   Agri product for used car (Page - 29)
   KNIP product for used car (Page -30)
   FOIR based product (Page -31-32)
   Organized Players and No Income Program for Organized players (Page -33-34)
   Credit Card Surrogate (Page – 35)
   TW loan Surrogate (Page - 36)
   Premium Cars-Purchase Product (Page -37)

 Definitions: Repayment classification, Approved financiers, ABB (Page 38-40)

 Non Deviatable norms (Page -41-42)
 Annexures (Asset categorization, List of corporates for FOIR) (Page 43-47)

2
Section 1: Overview

Objectives

 To standardize Risk Assessment and Acceptance Criteria (RAAC) and align it in accordance with the risk
 management philosophy of the organization.
  Define the mandatory conditions to be satisfied for acceptance of a Used Vehicle loan proposal.
 To define the deviations allowed in the policy along with the approval authorization matrix for these
deviations
 Define the product Used Car:

o Used Car: Funding towards purchase of second hand vehicle. Provided the vehicle is >2 months
old.
o Refinance: Funding against existing free vehicle.

Section 2 - Profiling Norms

RAAC Norms (Risk Assessment and Acceptance Criteria)

RAAC norms: Proposals meeting all the norms without any deviation (excluding pricing deviations).

A proposal should meet the below mentioned RAAC norms/ criteria, to qualify as a RAAC proposal. Which are as
follows:


 Approved borrower profile

 Approved vehicle category

 Meet the LTV/ Income/ and Tenure norms

 All credit norms mentioned in this policy

 Dedupe and CIBIL checks are positive

 FI and tele verification are positive

Satisfy the

KYC norms as defined.


 All files meeting the RAAC shall be approved by the credit manager or above of the respective locations on a
Credit Approval Memo/ Disbursement Memo, as per the approval authority matrix circulated separately.

 Files not meeting RAAC norms to be approved by the respective approving authorities as defined in this
note.
Approved borrower profiles:

  Salaried Individual
  Self Employed individuals (Proprietor, Partner, Professional and Director)
  Partnership Firms
  Private and Public Limited companies
 Others ((Trusts, HUF and Societies (excluding credit society))



3
 Special profile A
  Policemen (excluding IPS cadre) 
 Politicians – As defined below: 
 PEP: Politically Exposed Persons are individuals who are or have been entrusted with
prominent Public functions in India or foreign country, e.g., Heads of States or of
Governments, senior politicians (e.g. MPs, MLAs, MLC, Municipal Counsellors, Panchayat
President, Members), all political party Officials, etc. The above norms may also be applied to
the accounts of the family members or close relative of PEPs.
 Time share, Motel and holiday companies (Excluding – Mahindra Holidays)
 Plantation companies
 Video Parlor operators
 Single digit lottery
 Multi-level marketing
 Class IV employees including peons, drivers, and helpers etc. (excluding drivers working with
Govt. departments). This to be moved to normal profile if the gross income is >=3lacs (as per policy
note signed on Nov 16).
 Private finance companies not registered with RBI
 Advocates – non salaried, practicing advocates below high court. Excluding those empaneled by Tata
group companies
 Religious professions such as Priests, Pujari, Gurdwara priest etc
 Chit fund and Nidhi companies (includes individuals with business of money lending or chit fund as
ancillary business)
 Bar cum restaurant owners without license

Special Profile A – The above profiles are not to be funded. Deviations on the above can be approved at Credit Head &
collections Head level jointly subject to minimum repayment track of 12 months for minimum loan amount of 50% of
proposed loan.
Special profile B:
  DSA and their employees 
  Internet café’s 
  Contractual and part time employees 
 Dotcom companies (Companies who are in the business of generating income from providing services on
the internet with less than 5 years’ stability) 
  Bar cum restaurant owners with license. License to be documented. 
 Financial service agencies and agents involved in distribution of products like insurance, mutual fund etc. 
 Film industry professionals includes –Actors, Directors, financers, producers, distributors and all employees
working in the same industry.
  STD and photocopier centers 
  Wine merchants - wholesale and retailers 
  FI agents and all verification agents. 
  Commission agents 
  Spare part dealers (retailer or from unorganized sector) 
  Share brokers and sub brokers 
  Money lenders 
  Automobile mechanics 
  Placement Agencies 
  Media reporters & media companies 
  Contractors 
 Builders, real estate brokers, building material suppliers including sand operators, construction and
infrastructure companies. 
Special Profile B – Deviation on the above profiles to be allowed up to Rs. 10 Lakhs at Credit Manager’s level
with repayment track & up to Rs. 20 Lakhs at Regional Credit Manager level without repayment track. Beyond
this at Credit Head level.
 Repayment means minimum repayment track of 12 months for minimum loan amount of 50% of proposed loan. ETR
of two wheeler or consumer durable loan for a minimum period of 12 months to be considered as a valid repayment
proof under this policy for vehicle categories of A1 and A2.

4
  Profile Codes: To be mandatory captured in the system
 Personal Usage

Sr.No Profile Sub profile Profile code

1 Salaried Salaried-Government SALG
2 Salaried Salaried-Non Government SALNG
3 Self employed Self-Employed-non professional SENP
4 Self employed Self-Employed-Professional SEP
5 Partnership firm Partnership firm PFIRM
6 Corporate PVT Ltd and Public Ltd CORP
7 Others HUF HUF
8 Others Trust TRUST
9 Others Society SOCIETY

(B) Commercial usage

Sr. No Profile Sub profile Profile code

1 Fleet Small Fleet Owner SMLFLEET
2 Fleet Fleet Owner FLEET

(C) Process coding

Sr. No. Process Profile code

1 RC Limit RCL
2 Non RC Limit NONRCL

(D) Product Coding

As these codes are no longer in use, it has been removed from this policy note.

5
Section 3: Funding norms – 10-20 Lacs/ > one vehicle

Income, LTV and tenure matrix:

1. Minimum income of Rs. 2 lakhs to Rs. 5 lakhs for Self Employed and Rs. 3 Lakh to Rs. 10 lakhs for
Salaried. (Please refer Table 1 below). Deviation allowed at Credit Head and Risk Manager joint sign
off.

2. Multiplier - Lower of multiplied value (income*multiplier) or LTV will be the loan eligibility, subject to
defined FOIR norms. Multipliers in the range of 2 to 4 for SE and 1 to 2.5 for salaried profiles. (Please
refer Table 1 below)

Classification of assets:

 Categorization of assets are Tier 1 to 4. Industry segmentations are A1 to A6, MUV and SUV which is
similar to new cars. Please refer to Annexure below for categorization of assets.

Table 1 --- Not applicable for Premium Cars

Segment Self Employed Salaried Income
Vehicle
Categorization Income Income
Multiplier Multiplier
(Lakhs) (Lakhs)
A2 Compact Tier 1 2 2.5 3 1
Tier 2 2 2.5 3 1
Tier 3 2 2.5 3 1
Tier 4 2 2.5 3 1
A3 Mid-Size Tier 1 2 3 3 2
Tier 2 2 3 3 2
Tier 3 2 3 3 2
Tier 4 2 2 3 2
A 4 Executive Tier 1 2 4 5 2
Tier 2 2 4 5 2
Tier 3 2 3 5 2
A 5 Premium Tier 1 3 4 7.5 2
Tier 2 3 4 7.5 2
Tier 3 3 3 7.5 2
A 6 Premium Tier 1 5 4 10 2.5
Tier 2 5 4 10 2.5
MUV Tier 3 3 2 5 1
Tier 4 3 2 5 1
SUV Tier 1 3 3 7.5 2
Tier 2 3 3 7.5 2
Tier 3 3 2 7.5 2

6
Table 2 (LTV Matrix)

LTV grid for loan amount up to Rs. 20 Lakhs

Vehicle 37 to 60 months
Category Up to 36 months (37 to 48 months for Tier-3)
Tier 1 90 90
Tier 2 85 85
Tier 3 75 65
Tier 4 65 NA

LTV grid for loan amount above Rs. 20 Lakhs

Vehicle 37 to 60 months
Category Up to 36 months (37 to 48 months for Tier-3)
Tier 1 85 80
Tier 2 80 75
Tier 3 75 65
Tier 4 65 NA

 LTV for refinance cases: LTV should be 5% lesser than the RAAC grid subject to a maximum of 85%
 No unsecured loans (PL/BL) should have been availed by the customer in the last 6 months
 Any inclusion/ exclusion or change in the category can be approved by CH and Risk Manager.
 A5, A6 and SUV segment assets can be approved by Credit Manager for loan amount up to Rs. 15 Lakhs,
 above Rs 15 Lakhs CH level.
 Imported car will not be funded.
 Tenure of loan (Please refer table below of this section)
 Loan amount above Rs 10 Lacs 1-year Car Age deviation allowed at CH Level.

CLI / GI Funding:

Up to 5% increase in LTV for CLI / GI to be allowed as RAAC.

Age of asset at the end of tenure are as follows (Please refer table below)

Table 3 (Maximum tenure and car age at the end of the loan tenure)

Age of asset at end of

Category of asset Tenure tenure
Tier 1 5 9
Tier 2 5 8
Tier 3 4 7
Tier 4 3 6

Models which are typically used for taxi operations should be appraised under commercial usage. (Such as Indicab, Sumo,
Tavera etc.) Documents like RC copy/ Valuation report / insurance should be referred to identify taxi operation.

7
End of tenure norms in commercial usage cases

Particulars Old norms New norms

Maximum age of 5 years 8 years
the vehicle at
the end of the
tenure in
commercial
usage

Section 4 – Deviatable Credit Norms:

Notes:
For Loan amt upto Rs 10 lacs, few deviations are rationalized separately, for rest others we have to refer here.
Banking norms as mentioned in this matrix are for loan amt more than Rs 10 lacs (Because for loan amt up
to rs 10 lacs, is covered under deviation rationalization matrix of Nov 16)

Norm
Sr. No. Criterion s Deviation Authority
1. Eligible  An Indian Credit Head-For Society, trust and HUF.
borrower Individual.
category
 Partnership firm/
Pvt. Ltd/Ltd
company
All age deviations to be signed off at Credit
Manager level with co-applicant, if co-applicant is
not available then RCM level. Age <18 yrs is not
allowed even with co-applicant for age.

2. Maximum 60 Years in case of

Age at the salaried profile
time of loan 65 years in case of others
termination
(in case of
individuals)
3. Maximum For private usage as per 48 months at RCM level in NIP
grid provided in section
tenure above
& 36 months in NIP. Credit Head can deviate Up to 36 months
for commercial usage.
30 months for
commercial usage.
4. LTV As per grid provided in Maximum of up to 5% on LTV can be
section above. deviated at RCM for all private usage
vehicles, subject to a maximum of 85%.

LTV deviation >5% up to 10% can be

deviated by CH subject to maximum cap
of 90% (95% under Rs. 10 Lakhs)

Maximum LTV for commercial usage up

to 65%.

5. CM level

8
 Permanent Landline connection
phone and/ or WLL/ post paid
connection connection mandatory at
both residence and
office
6 Banking:
Min requirement >=1 times RAAC
Credit tested
Banking (>=50% of
proposed EMI for <1 & >= 0.50 RCM level
minimum seasoning
of 6 months) <0.50 CH level
<1 & >=0.50 CH level
Non Credit tested <0.5 Non deviatable
Minimum loan amount of Rs 1 lakh. Below Rs. 1
lakh deviation at CM plus NSM for new and used
7. Minimum Rs.1,00,000/- both.
Funding
Mandatory for all
8. CIBIL proposals As per CIBIL deviation matrix defined below
9. Internal Mandatory & To be As per Dedupe Deviation Matrix defined
Dedupe positive. Not in Database
to be considered as
positive match.
10. Field To be Positive. As defined in policy
Investigation

11. RCU Proposals which are As defined in policy

sampled to be positive.
No ‘hold’ or ‘report
pending’ proposals to be
disbursed
For rented residence –

Minimum current residence

stability for normal cars - 2 Minimum of 2 years for all categories of borrowers in
yrs case of rented residence or self owned/company
And for Premium cars - 5 provided.
yrs
Deviation up to 1 year at RCM level and below that
Or --- Self owned / CH level.
Company provided
residence for Super Cat A/ (For self owned residence ownership proof to be
12. Residence stability A / B companies documented)
Salaried - Minimum of 1 year at current employment
and total employment of 2 years –

Deviation on minimum current employment stability

up to 6 months at RCM level subject to minimum
total employment of 2 years.

Self employed - Current business or profession of

Employment/ 2 yrs in Current Job / 5 yrs minimum 2 years.
13 Office Stability of Total Work Ex

9
 CH level deviation up to 1 year. A co-applicant may
be included to satisfy this norm jointly with the
applicant.
If FI report (residence or Minimum repayment of 12 months
14. Negative office) states that the (ETR/ GTR)
area premise is located in Comfort from collections team
negative area. documented

SELF EMPLOYED :
RAAC 100%
Credit Manager 200%
Regional Credit Manager - 200% - 400%
NCM – 400% - 600%

SALARIED:
RAAC 70%
Regional Credit Manager - 70% - 100%
100% - 200% National Credit Manager
Self Employed RAAC –
15. FOIR (Fixed 100%
Obligation to Salaried RAAC – 70%
Net Income
Ratio)

FOIR based
underwriting for
Non individuals &
Individuals is
applicable Upto
Rs 20 lacs
16. Residence Deviation for SENP at CH level subject to
cum office RTR as per norms
SEP – RCM level
For a salaried employed working from
house, deviatable at CH level with
supporting documents – appointment
letter and salary slip and any other

Other deviatable norms:

All deviations of Product Risk Manager Level or Policy Level to be approved at Deputy Product Risk Manager and RCM level
jointly subject to a value cap of Rs. 20 Lakhs.
Group exposure norms

 While appraising an Auto loan proposal only TCL Auto loans exposures (New & Used deals) to be considered as group
exposure. TCL Business loan and Personal loan exposures to be considered as reference points and need not be clubbed
for DoA purposes.

 In event of one entity having a majority stake (51%) holding in another entity in the form of individual (director, partner etc) or
non-individual (partnership, private ltd etc) then the same will be considered as group exposure and the proposal will be
signed at the specific authority as per assigned DoA.

10
CIBIL policy.

Proposed CIBIL Policy – for > 10 lacs

CIBIL Deviation Matrix for other than derogatory remarks

CIBIL Score Deviation Level

0 or -1 RCM
Score < 650 CH
650-700 RCM
700-800 CM
>800 RAAC

CIBIL deviation Matrix for with derogatory CIBIL remarks

Loan Amount Score Deviation Level
10-20 lakhs <700 CH
10- 20 lakhs >700 RCM
> 20 Lakhs Any Score Risk /Policy level
Derogatory status in CIBIL are as follows

 Suit Filed (SF)

 Willful Default (WD)
 Suit Filed (Willful Default) (SWD)
 Written Off (WO) except for credit cards
 Suit Filed & Written Off (SWO)
 Willful Default & Written Off (WWO)
 Suit Filed (Willful Default) & Written Off (SWW).
 DBT (Doubtful)/ LSS (Loss)

RCU Deviation Matrix.

Negative report on RCU

 RCU credit referred negative and could not verify to be signed off at RCM level
 RCU decline or deferral of any document pertaining to RCU would be Head RCU level call

11
Product Variants:

1. Product Norms for Rs. 10 Lakhs product

Deviations - As per Deviation

Rationalization Matrix dated Nov
Repurchase and Vanilla 2016 mentioned below
Norms Refinance
Loan Amount Up to Rs. 10 Lakhs
Models All tiers
Income based:
\
Eligible LTV of 90% - Minimum
income of Rs. 2 Lakhs for self
employed and Rs. 3 Lakhs for
salaried

Eligible LTV of 85% - Minimum

income of 1.5 Lakhs for self
employed and Rs. 2.5 Lakhs for
Salaried

CIBIL Score based:

Income or
CIBIL score above 775 – LTV of
Banking or 80%
CIBIL score of 750 to 775 – LTV
CIBIL score or of 75%
CIBIL score of 725 to 750 – LTV
Residence ownership of 70%

proof & eligible LTV Banking and residence

(Eligible LTV shall be 10%
lesser for tier 3 and Tier 4
assets)
ownership proof based
Average bank balance in last 3
months with no inward cheque
returns and minimum balance

ABB of 2 times – LTV of 75%

ABB of 1.5 times – LTV of 70%

Residence ownership proof

based

Eligible LTV of 60%

(Portfolio cap of Rs. 50 Crs or 1

year or 90+ of 2%)

Repayment Track Norms Not Mandatory

No of Units one vehicle

FOIR applicable if income FOIR up to 70% for salaried &

proof documented up to 100% for SE

12
 Last 3 months Average
1 times EMI
Banking
Rented RCO to be signed off at CH level with
LTV reduction by 10%

For Owned RCO cases, please refer Deviation

Rented residence cum office not Rationalization Matrix issued on Nov 2016.
allowed.
Residence cum office In case of owned residence cum
office eligible LTV's to be reduced
by 10%
Credit Head sign off required for negative FI on
account of following reasons:
Person does not exist
Address not traceable/Does not exist
Defaulter/Bad Market
FI To be positive Reputation Negative Neighborhood Check

Other reasons to be signed off at

CM level
Special Profiles
Special Profile A not to be funded

Usage Personal Usage only

Minimum age of 21 years and
maximum age of 60 years for
Age salaried and 65 for self employed
EOT norm
Tier 1 Asset – Up to 9 years
Vehicle age
Tier 2 Asset – Up to 8 years
Tier 3 and Tier 4 - 7 year
36 months for NIP and residence RCM can deviate up to 48 months under NIP
Loan Tenure ownership proof based variant
60 months for others

Residence and As per existing policy

As per existing policy
Employment Stability
Mandatory at residence or Office
on landline or WLL or post paid
Contact ability mobile

RCU To be positive Verify to be signed off at RCM level

13
Repayment product for self-employed individuals for personal usage:

Repayment based lending is targeted at customers who have ETR (Excellent Repayment Track)/ GTR (Good
Repayment Track). A multiplier on the value of loan serviced based on the seasoning of the repaid loan will be the
eligibility.

Sr Parameter Norms
No.
1 Loan amount Maximum loan amount Rs. 10 Lakhs
2 Minimum seasoning of Minimum seasoning of existing loan 12 months
existing loan

3 Eligible LTV Seasoning of 33% - LTV of 75%

4 Eligible loan amount
multiplier
5 Repayment track of product
Seasoning of 50% - LTV of 80%
Seasoning of 75% - LTV of 85%
Seasoning of 33% - Existing loan*1
Seasoning of 50% - Existing loan*1.5
Seasoning of 75% - Existing loan*2
Personal loan and auto loan repayment to be considered.

6 Track record type ETR/GTR (please refer track record definition below) to be
allowed with no bounce in last 6 months.
7 RTR from approved from Refer the approved financer list
financials institution

8 Vehicle Tier All tiers are allowed

9
9 Usage of the vehicle Only personal usage allowed

P
g
a
e
10 Proposed EMI Proposed EMI should not be more than 1.5 times of
running EMI

 Repayment track should be for a live account or for an account closed not more than 6 months back –
Deviation at CH level
  Currently, account should not be in arrears – Deviation at CH level
 Repayment track should be supported by Statement of Accounts. Repayment track should be EMI based –
CH level
  NPDC cases are not eligible
  Repayment track of auto and personal loan to be considered for eligibility
  Repayment track to be ETR/GTR & there should be no bounce in last 6 months
  Repayment track should be from a live account or an account closed within last 6 months
 Repayment track should be supported by statement of account and should be EMI based (Repayment track
confirmation by empaneled agency is acceptable subject to EMI debits to be verified in last 6 months
 banking)
 Repayment track should be from approved institutions as per Annexure -1 (Any addition to the list to be
allowed at Product Risk Manager and Credit Head level jointly.


14
Car ‘n’ Cash Variant (Version-1)
Car n cash product is a repayment based product proposed for internal and external customers
S. No Parameter
1. Asset category eligible
2. Seasoning norms and
tenure norms
3. Balance transfer value
4. Loan Eligibility
5. Bounces in track
6. CIBIL
7. Dedupe/ RCU/ KYC
8. Disbursement
Other Norms
- Age of vehicle. – Age at the end of tenor of the loan to be guided by the used car loans policy.
- No PL disbursed in last 6 months, otherwise financial required and deviation will be as per FOIR matrix.
Norms
Tier 1 and 2 assets up to loan amount of Rs. 20 Lakhs. Tier
3 and Tier 4 vehicles for loan amount of Rs. 10 Lakhs
 Used or New Car loan of any approved financier
which are live (closed within 6 months from the date
of application) and with minimum 12 months or with
minimum 33% of sanctioned tenure serviced,
whichever is higher.
 Only EMI based loans to be considered under this
Program
 Minimum of 12 months’ track or 33% seasoning loan
tenor of the current loan should be serviced.
 Tenure will be less than or equal to the tenure of the
previous loan.
 Seasoning Deviation (for loan amt upto Rs 10
lacs)– please refer deviation Rationalization
matrix issued on Nov 2016, as mentioned
below
Balance transfer value will be POS (Principal Out Standing)
as on the date of take over.
LTV External -120%
Internal – 100%
For Internal customers: Loan closed less than or equal to 6
months from the date of application of the proposed loan can
be considered.
One bouncing allowed in a year with nil 30+DPD and no
bounce in last 12 months. Complete track required or
Schedule with banking to be documented.
CIBIL score of > 600 mandatory. Other deviations as
applicable under CIBIL policy will apply.
Norms as per credit policy will apply.
Existing customer can take option of eligible loan
amount w/o foreclosing original loan. Since RC is
already carrying TCL hypothecation.
For External customers the disbursement to be made
in favour of the existing financier for the BT
component. Top up amount to be in favor of the
existing financier for the BT component. Top up
amount to be in favor of the channel under RC limit
and handed over/transferred by OPS, only on
verification of NOC, RTO forms and other relevant
documents for removal of existing financier hypo and
addition of TCL Hypothecation.
All external customer cases will be routed through
 channel partners with RC limit
15
 - RTRs only from authorized financial institutions as mentioned in the credit policy.
- Not applicable imported cars.
- Not applicable for commercial usage vehicles
- For CNC IDV to be 90% of loan amount or asset value whichever is lower.
- Deviation of 5% can be allowed at CH level.

Car ‘n’ Cash Variant (Version-2)

Repayment track based offering with loan amount cap of Rs. 20 Lakhs – Applicable for both
internal and external customers – LTV restricted to 100%

Following are the norms which are different for version -2

Norms Revised Norm

LTV
100% maximum
Seasoning
Minimum seasoning of 12 months
Two bounces per year other than last 12 months where 1 bounce would
be allowed with no bounce in last 3 months.
Bounces
All bounces to be paid within 30DPD.

Tenor less than or equal to the tenor of the previous loan

Tenor
Deviation of 12 months to be allowed at RCM level for Tier-1 and Tier-2
cars subject to EOT norms being met.

Note: All other existing norms not specifically mentioned above would continue to be
applicable.

Product Code & Portfolio Triggers:

Code – CNCV2
Portfolio cap of Rs. 50 Crs 30+
<4% 90+ <2%

Innovative Product – CARNCASH

Profile Seasoning Repayment behavior
Innovative Car N
Cash product with
LTV of 140% (All T1
& T2 assets)
>= 12 months or 33% of original NIL bounces in last 12 months and
tenure whichever is higher maximum DPD never 30+

Pre-approved (Subject to verifications) Top-up loans to the above mentioned customers or any addition to this
customer list based on above mentioned parameters.

For the customers falling in the above category, we propose to offer upto 140% on Valuation or grid whichever
is lower (Two valuations to be done where grid is not available or where the variation is more than 20%
between the grid and the valuation).

These loans can be booked as TOPUP with foreclosure of existing loan on the same vehicle or can be booked
as a parallel loan after deducting the principal outstanding in existing loan. Both loan need to be linked so that
NOC is blocked.

16
 Other Norms

 Customers who have taken Car ‘n’ Cash or top up loan (including PL) in the last 12 months are not eligible
 Age of vehicle. – Age at the end of tenor of the loan to be guided by the used car loans policy
 Not applicable for commercial usage vehicles
 Maximum Loan amount of Rs. 20 Lakhs
 All verifications to be done except FI which is needed to be done if there is a change in address from existing
address as in system
 Deviation matrix as applicable for normal product would apply
 Cases with RC pending will not be eligible
 All other norms related to tenure, age of asset at the end of the tenure, KYC etc would be applicable as mentioned
in the used car policy note.
 For CNC IDV to be 90% of loan amount or asset value whichever is lower. Deviation of 5% can be allowed at CH level.


Business profiles to be excluded in addition to special profile A

 Customers engaged in business of real estate, construction and contractors
 Customers engaged in the business of mining.

States to be excluded:

1. States of West Bengal, Bihar, Jharkhand and Orissa.

Following captive usage norms to be applicable for Car –N- Cash or Refinance for above Rs. 20 Lakhs (Up
to Rs. 75 Lakhs for internal customers and Rs. 50 Lakhs for external customers)

Following high exposure norms would also be applicable for Non Individuals (Non Commercial) .
Sr. No. Norms Exposure > Rs. 20 Lakhs up to Exposure > Rs. 50 Lakhs
Rs. 50 Lakhs) up to Rs. 75 Lakhs
1 Stability in Current
business/ employment 5 years
2 Profit Before Depreciation > 10 Lakhs > 25 Lakhs
& Tax (PBDT)
3 Net Profit to Income To be positive
4 Debt/Equity <=2
5 DSCR >1.5
6 Current Ratio >1
7 Bank statement Average monthly balance should be >= 1 time the EMI of the
proposed loan
8 Repayment >12-month seasoning and 25% repayment of previous loan.
>CH can deviate on repayment norm

 DSCR & D/E – Deviation up to 0.75 at Credit Head Level and Debt/Equity – up to 3 at Credit Head Level.

17
DEVIATION RATIONALISATION – NOV 2016:

We have analyzed following data before arriving at recommendation:

Classifica 1. Grouping / Classification of the Deviations.
Deviations
tion
2. Deviation wise Delinquency for the cases
Standard of Living/Profile Mismatch
booked from April-14 onwards and their
End Use Commercial delinquency as on 30th November 2015.
Door Locked
CPV Residence cum Office(RCO)-Owned
GROUPING / CLASSIFICATION OF
Out of geo limits/Non Targeted Location THE
Defaulter/Bad Market reputation
DEVIATIONS
Application Score
cibil score Basis the nature of the deviation – Deviations
Internal dedupe other than NPA & Write- can broadly be classified into following class:
off
1. CPV – Factual finding.
Behavior Seasoning requirement (CnC) ST min
12MOB 2. Behavioral – Bureau, Repayment,
Bureau History (Good & Bad combo, latest Application score (Though application score
& higher trader to be good min 9M but has been taken into this category for
Vintage) simplification), Internal dedupe, Seasoning
Customer age-18 to 21 yrs (or)>65 YRS
3. Demographic – Customer
Demogra Employment/business/Profession stability characteristics
phic
Residence Stability 4. Income and Eligibility – As defined in policy
Contactability-Phone Requirement for various programs
Minimum Income norms
5. Offerings – Offer which can be made to a
Documents Banking (3 Months required)
customer basis his documents/Program.
Documents-Income
Banking (ABB, OD/CC)/Alternate banking-
Income & 3Months required 6. Others – Anything which does not fit in
Eligibility FOIR above.
DSCR
Debt/equity
Current Ratio
Seasoning/vintage requirement
LTV-Purchase & Refinance (excel CNC)
Tenor (up to 12M over & above defined)
Offering
Asset Age
Loan Amount/Product Cap
Non Eligible borrower
Non Eligible location
Other
Non Eligible Model
Location filters

18
Definitions:
Template Parameter Definition
Bureau Score >=780 Generic Score of CIBIL
Bureau Score >=780 with loan trade of 12MOB No AL/UCL/PL/BL/HL/CV loan trade of minimum 12
derogatory Never in 30DPD months
Seasoning Definition 12 Months track never in 30 DPD
Product definition Purchase
Refinance (excluding CNC)
CNC (Excluding Refinance)

Up to 5 lacs Up to 10 lacs
Classificatio
Deviations Template PRM
n
Credit Buyer RCM CH
Standard of
Bureau A5, A6 &
Living/Profile A1, A2 & A3 MUV & A4
Score>=780 SUV
Mismatch

End Use Commercial All Cases

Door Locked TPC Positive Existing Matrix

Bureau
TDS/Contract
Residence cum Bureau score 700-
Copy/Current
CPV Office(RCO)-Owned Score>=780 780 Score
a/c>1 year
Zero/ (-)1

Out of geo with collection

limits/Non Targeted sign off No Deviation allowed at any level
Location mandatory

Bureau
Defaulter/Bad
Score>=780 with All cases
Market reputation
Loan trade 12MOB

19
 Application Score Bureau Salaried and All
Score>=780 with A1, A2 & A3 segments
Loan trade 12MOB Self-employed- up to 10
up to 5 lacs lacs

0 & 650-
779 with
(-) 1,650-779
Bureau Score derogatory <650 with
CIBIL score bands without
>=780 0 & 300- derogatory
Derogatory
649 without
derogatory
Behavior
Internal dedupe
Collection All
other than NPA &
feedback positive cases
Write-off
Without >100%
Seasoning Bureau
Financial financials without
requirement (CnC) Score>=780 with
required up to financial
ST min 12MOB Loan trade 12MOB
100% s

Bureau History Salaried

Self- Self-
(Good & Bad combo, Bureau and Self
employed employe
latest & higher Score>=780 with Employed
A4, A5 & d A6 &
trader to be good Loan trade 12MOB and A1, A2
MUV above
min 9M Vintage) & A3

Customer age-18 to All Cases up

Co-applicant <20 yrs
21 yrs (or)>65 YRS to 20yrs

Salaried
Salaried and and A1, A2
Employment/busines
Bureau A1, A2 & A3 & A3 Self- A6 &
s/Profession up to A5
Score>=780 Self-employed- employed- above
stability
up to 5 lacs up to 10
lacs
Demographic
Salaried
Salaried and and A1, A2
Bureau
A1, A2 & A3 & A3 Self-
Residence Stability Score>=780/owne Other
Self-employed- employed-
d accommodation
up to 5 lacs up to 10
lacs
Bureau
Contactability-Phone
Score>=780/owne No Deviation allowed at any level
Requirement
d accommodation

20
 Up to 5 lacs Up to to 10 lacs
Classificatio
Deviations Template PRM
n
Credit Buyer RCM CH

Minimum Income up to 25k up to

unto 50 k >50k
norms 5 lacs loan

Banking Min
banking/cha
Alternate Bank
nge of bank
PDC/ECS (min
for
Bureau one month) with
Documents Banking PDC/ECS
Score>=780 with SPDC (one for
(3 Months required) without
Loan trade 12MOB each 6M tenor)
SPDC from
from banking
Banking
meeting norms
meeting
norms

Form
16/Salary
certificate,
Salary reflection
Income & Form 16A,
(3M) Salary
Eligibility latest
Documents-Income Certificate (govt)
financial
Latest ITR (as
post cut
defined in policy)
off
VAT/Servic
e Tax/TDS

Salaried &
Banking (ABB,
Self-
OD/CC)/Alternate Bureau Salaried up to 5
employed
banking-3Months Score>=780 lacs loan
up to 10
required
lacs

Salaried:
Salaried:>7
Bureau Salaried:70% 100%-
0-100%
FOIR Score>=780 with Self 200% Others
SE:200%-
Loan trade 12MOB Employed:200% SE400%
400%
-600%
up to
DSCR >1.50
0.75%
Debt/equity <=2 up to 3

21
 up to
Current Ratio >1
0.75%
Seasoning/vintage Refinanc
Purchase
requirement e

Up to
Bureau Up to
up to 10% 20%
LTV-Purchase & Score>=780 with 15%
subject Subject
Refinance (excluding Loan trade 12MOB Subject
LTV cap of to LTV
CNC) up to 5% over & LTV cap
90% cap of
above defined of 90%
95%.

Salaried & Salaried Salaried

Tenor (up to 12M Self & Self & Self
over & above Employed employed Employe
defined) A1, A2 & A4, A5 & d A6 &
A3 MUV SUV

Offering
Bureau
Score>=780 Purchase up Purchase
Purchase-11 Yrs to 11 yrs. up to 11
for T1 & T2 for Tier yrs.
Asset Age
Purchase-9 Yrs T3 1&2 Up to Refinanc
Refinance-10Yrs 12M for e-10
for T1 & T2 Refinance Years
Refinance-9yrs T3

Bureau
Loan Up to
Score>=780 with up to 5%
Amount/Product Cap 10%
Loan trade 12MOB

A1, A2,
Non Eligible A5 &
A3, A4 &
borrower Above
MUV
A1, A2,
A5 &
Non Eligible location A3, A4 &
Above
MUV
Other
A1, A2,
A5 &
Non Eligible Model A3, A4 &
Above
MUV
A1, A2,
A5 &
Location filters A3, A4 &
Above
MUV

22
*Address not traceable- No Deviation at any level
*Customer does not exist in given address - No Deviation at any level
**Any deviation outside this table would be Policy deviation and would be decisioned at PRM level

Applicable to HUF/ Trust/ Society profiles only:

Any two of the under mentioned conditions to be satisfied (out of which one should be repayment condition)

Criteria Exposure up to Rs.10 lacs Exposure above Rs. 20 lacs

ITR Minimum Rs. 2 lacs Minimum Rs. 4 lacs

Repayment For last 12 months and the same
is minimum 50% of the proposed
exposure. *
Stability in Current More than 5 years
business/ employment
For last 18 months and the
same is minimum 50% of the
proposed exposure. *
More than 5 years

bank statement Average monthly balance should Average monthly balance

be >= 2 times the EMI of the should be >= 3 times the EMI of
proposed loan the proposed loan
Capital & Reserves 12 lacs 24 lacs

Note:

1. Repayment: Not more than 2 cheques bounces per year of loan but cleared in the same month. The
account should currently not be in arrears.

2. PDD: If the previous exposure is more than 75 days old, no PDD should be outstanding.

3. Any deviation on the above mentioned parameters can be approved at CH level subject to value caps and
mandatory conditions mentioned above.

Commercial Policy in USED CAR:

Common Norms for Commercial Usage in used car


  Small Fleet owners to document RC copies of entire fleet 
  Fleet owners to document RC copies of minimum 25% of the fleet. 
 Fleet list to be documented on the letter head of the company in the following format 

S.No. Asset Financed or Free Financed from RC Number

Income based program for loan amount up to Rs. 7 Lakhs - Product code – LA7 – Used Commercial
(It is applicable for fleet operator and not applicable for FTU. Additionally, product is available for re-purchase only)
23
 Income Program
Loan Amount Up to Rs. 7 lakhs
All approved models as per approved LTV grid. Eligible LTV to be 5% lower than mentioned in
Models & LTV
approved LTV grid.
 CM can deviate up to 5% from RAAC subject to a maximum of 75%
 RCM can deviate up to 10% subject to a max of up to 80%
LTV deviation
The above LTV deviations to be allowed subject to 12 months’ repayment track for a loan value of at
least 50% of proposed loan amount.
No of Units One vehicle.
Income is RCM can deviate subject to minimum Income at Rs. 1 lakh for SE and Rs. 1.5 lakhs for salaried
mandatory Deviatable at CH level for SE up to Rs. 60 K income

For Self Employed - RAAC of 100% 2. Up to 200% CM 3. Up to 400% RCM

4. Up to 600% CH
FOIR
For Salaried – RAAC of 70% 2. Up to 100% at RCM 3. Up to 200% at CH

Last 3 months
Average Minimum ABB of 1 time of EMI. Deviation allowed as per ABB deviation matrix.
Banking

 If FI is negative for traceability or defaulter/bad market reputation then the deviation can be
FI signed off at CH level.
 Other reasons to be signed off at CM level
 Special Profile A to be signed off by CH and Head Collections
Special
 Special Profile B with repayment track to be signed off at CM level
Profiles
 Special Profile B without repayment track to be signed off at RCM level

CIBIL and De- CIBIL - Refer Deviation Matrix

dup Matrix
De-dup - Refer Deviation Matrix
All age deviations to be signed off at CM with co-applicant except for age <18 yrs which cannot be
signed off at any level.
Age
If co-applicant is not there it can be signed off at RCM level
Tenor 12 to 60 months
Residence
and
Employment
Stability Refer residence and employment norms section
Resi Cum If not self-owned the same should be signed off at CH else shall be signed off at CM
Office
Mandatory at residence or Office on landline or WLL or postpaid mobile
Tele
Contactability In case of prepaid at both residence and office the same should be signed off at CM level for owned
residence cases else at RCM level
RCU Credit Refer Negative/Could not Verify to be signed off at RCM level
Any other reason to be signed off at RCU head level

Note: This product is available only for repurchase cases.

24
Fleet Operator Product (Only for repurchase cases)

Variant Small Fleet Medium Fleet Large Fleet

Defining 1-10 Units fleet size 11-25 units >25 units
Criteria
Tier of Assets All RAAC models

Max Loan One asset/up to Rs. 5 Up to Rs. 25 Lakhs Up to Rs. 50 Lakhs

Amount/ No of Lakhs for fleet 1 to 3
Assets to be vehicles.
funded Two assets/ up to 10
lacs for fleet Size 4 –
6 fleet owner
Three assets/ up to
15 lakhs for fleet size
7 - 10 fleet owner. If
> 50% sourced in
past 9 months funding
to be restricted to 2
assets
LTV RAAC 75% RAAC LTV 80% with 5% LTV RAAC LTV 85% with 5% LTV
deviation at RCM level deviation at RCM level
Repayment Minimum 12 months Minimum 12 months repayment Minimum 12 months repayment
track repayment track for loan track for loan value of 50% of track for loan value of 50% of
value of 50% of proposed proposed loan amount. proposed loan amount.
loan amount. Repayment
track not mandatory for 1
unit funding.
FFR Not Applicable Minimum 25% Minimum 15%
Tenor 36 Months 48 months 48 months
Business 2 Years 3 Years 3 Years
Income Not Applicable 1. Net worth and PAT should be 1. Net worth and PAT should be
positive positive

2. YOY growth in turnover 2. YOY growth in turnover

3. Any two of the below conditions 3. Any two of the below conditions
to be met to be met
a. Debt /Equity Ratio to be <= 2
a. Debt /Equity Ratio to be <= 2 times times

25

b. 50% of the proposed exposure
with minimum seasoning of 12
months with ETR/ GTR status
c. Monthly PBDT to proposed EMI
ratio should be 1.
1.The above is applicable only if the
proposed exposure is for more
than 2 assets. For exposure up to
2. Assets would be processed on
ITR & banking and detailed
financial statement would not be
mandatory.
Banking Not Applicable Should be >=1 time the EMI
b. 50% of the proposed exposure
with minimum seasoning of 12
months with ETR/GTR status
c. Monthly PBDT to proposed EMI
ratio should be 1.
The above is applicable only if the
proposed exposure is for more
than 5 assets. For exposure up to
5 assets would be processed on
ITR & banking and detailed
financial statement would not be
mandatory.
Should be >=1 time the EMI

Banking should be of at-least last Banking should be of at least last

3 months 3 months
Residence In the name of applicant Not Mandatory Not Mandatory
Ownership or blood relative of the
Proof applicant or 12 months
repayment track.

Refinance to Other fleet operators: - Code – Refinance small fleet

Product Norms for refinance to other fleet operators with loan amount cap of Rs. 10 Lakhs Portfolio cap of Rs.
10 Crs

Norms Refinance Deviation Level

Loan amount cap Rs. 10 Lakhs No deviation

Business stability Minimum of 5 years No deviation

Tier-1 & 2 up to A3 segment subject to exclusions No deviation
Eligible assets mentioned below**
Maximum LTV 80% No deviation
Vehicle age at EOT 8 years No deviation
Maximum Tenure 3 years
Minimum seasoning of 18 months or 1/3 rd of loan No deviation
tenure whichever is higher for a minimum value of
proposed loan amount.

No bounce in last 12 months, never 30+ and 1

Minimum repayment track bounce per year allowed prior to last12 months
Maximum loan tenure 3 years No deviation
Minimum fleet size 5 vehicles No deviation

All other norms including all verifications which are not specifically mentioned would continue to be applicable
**Vehicles excluded:

Omni, Octavia, Fiesta, Safari, Xylo, UVA, Captiva, Zen, Indica, Indigo, Punto, Optra, Lenia, Santro, SX4.

26
Refinance to large fleet operators - Code – Refinance large fleet

Product Norms for refinance to large fleet operators with loan amount cap of Rs. 50 Lakhs

Norms Refinance Deviation Level

Minimum Fleet size
Minimum business stability
Eligible vehicles
LTV
Maximum exposure/Loan
amount
Financial norms
Repayment tracks on
vehicles which is to be
funded OR
Other repayment tracks
Vehicle age at EOT
Maximum loan tenure
50 vehicles NA
10 years Up to 5 years at CH level.
Tier-1 & Tier -2, A, B and C segments NA
except vehicles as mentioned under
exclusion*
Maximum LTV of 80% NA
NA
Rs. 50 Lakhs
DSCR – 1.5, Debt/Equity - <=2 DSCR up to 1 at CH level
Year on year growth in turnover and net Debt/Equity - <=3 at CH level
profit
All loans should have at least 50% of No Deviation (100% of loan amount)
seasoning – No bounce in last 12
months, never 30+ and 1 bounce per
year allowed prior to last12 months. Loan
amount repayment tracks should be at
least equal to the proposed loan amount.
Repayment track of at least 12 months No deviation
for at least 50% of loan amount for
PL/BL, No bounce in last 12 months,
never 30+ and 1 bounce per year
allowed prior to last12 months.
8 Years No deviation
3 years No deviation

*Vehicles excluded:
Omni, Octavia, Fiesta, Safari, Xylo, UVA, Captiva, Zen, Indica, Indigo, Punto, Optra, Lenia, Santro, SX4.

All other norms including all verifications which are not specifically mentioned would continue to be applicable

27
Introduction of LOW LTV- KYC based product with maximum LTV of 55% - Portfolio size of Rs. 10 Crs - Code –
Used LOW LTV

Deviation Level
Particulars Norms
NA
Applicability Applicable for self-employed individuals
For personal usage. Not applicable for commercial NA
Usage usage and refinance
NA
Eligible vehicles A1, A2 and A3
NA
Eligible LTV Maximum LTV of 55%
NA
Maximum Loan amount A1 & A2 – 2.5 Lakhs and A-3 – 3.5 Lakhs
NA
Income Not mandatory
No ABB requirement. There should not be any NA
bounce or minimum balance charges in last 6
Banking months.
Residence ownership proof in the name of applicant NA
or blood relative to be documented (blood relative to
Residence ownership proof be roped in as co-applicant)

Mandatory sampling of residence ownership proof by RCU and report should be positive and should not be CRN/CNV.

All other norms including all verifications which are not specifically mentioned would continue to be applicable

Low Banking Product up to a loan amount of Rs. 5 Lakhs - Code – Used LOW ABB
Portfolio size of Rs. 10 Crs

Deviation
Level
Particulars Norms
Applicable for self-employed and salaried NA
Applicability individuals
For personal usage. Not applicable for
commercial usage and refinance NA
Usage
NA
Eligible vehicles A1, A2 and A3, Tier-1 & 2 Assets
NA
Maximum LTV LTV to be capped at 80%.
NA
Maximum Loan amount Rs. 5 Lakhs
Minimum income of Rs. 1.5 Lakhs for self
employed NA
Income and Rs. 2.5 Lakhs for salaried.
No ABB requirement. There should not be any NA
bounce or minimum balance charges in last 6
Banking months.
Residence ownership proof in the name of
applicant NA
or blood relative to be documented (blood
relative to
Residence ownership
proof be roped in as co-applicant)
NA
Special Profile Special profile A not be done

All other norms including all verifications which are not specifically mentioned would continue to be applicable

28
Agri product for used car

A1, A2, A3, MUV & SUV (compact)

Eligible Cars Vehicle should not be used for Commercial purpose and refinance not to be done
Exit age (EOT) 8 Years
LTV & Tenor 75% up to 36 months

70% LTV for tenure of 37- 60 months

Eligible LTV to be reduced by 10% in case of MUV & SUV
Max. Tenor (60 months)
Land Holding Documentary proof of the agricultural land - In Applicant / blood relatives name

7 / 12 (or) equivalent agri land holding document (documented to be based on tractor policy)

Minimum agricultural land holding

Min. 3 acres of agricultural land for A1 & A2 segment

Min. 7 acres of agricultural land for A3 segment

Loan Cap Min Land Loan Amount

Holding

3 Acres 2.75 Lacs

5 Acres 4.50 Lacs
6 Acres 5.50 Lacs
8 Acres 8.00 Lacs
Loan Cap of 8.00 Lacs
Eligible The product should be rolled out in states where we are doing agri products in new car.
locations
Verification  Only Residence FI to be done.
 If negative due to non-traceability or defaulter/ bad market reputation deviation can be
exercised at CH,
 Other reasons to be signed off at CM level
 Personal Visit to be done in every case irrespective of FI by a FTE (Full time Employee) or
CRE and report to be documented in proper format as defined in new car.CRE visit report
can be accepted with FTE verifying the details & counter signing the visit report submitted by
CRE.

Mandatory RCU sampling of land documents – For the first 6 months mandatory RCU sampling of land documents to
be done.
All other norms including all verifications which are not specifically mentioned would continue to be applicable

Code – Used Car Agri

29
 KNIP product for used car

Particulars
Eligible Profiles
Eligible locations
Eligible vehicles
Deviation Level
Norms
Self-employed, House wife (spouse should be NA
working NRI, Agriculturist
Any addition to the list to be
Cochin, Trisshur and Kottayam approved at RCC-1 level
A1, A2, A3 & Innova – Tier1 & 2 vehicles (Other NA
MUV & SUV not be funded)

A1 & A2 – 75%, A3 – 70% NA

Additional LTV of 5% to be allowed for organized

Eligible LTVs
Tenure
Minimum transactions in
banking
Maximum loan amount
Residence ownership proof
Personal visit report
Usage
Business stability for self
employed persons
players like Maruti True value, Mahindra First
Choice etc at RCM level
Maximum Tenure of 48 months NA
60 months for organized payers
Minimum 12 transactions or ABB of at least 1 time NA
of EMI in last 6 months’ bank statement with no
bounce and no minimum balance charges
Maximum loan amount of 4 Lakhs for A1 & A2 and NA
Rs. 6 Lakhs for A-3 segment
Residence ownership proof to be documented NA
Personal visit report by on roll employee including J NA
grade to be documented confirming business detail
along with at least two photograph of customer’s
residence.
Personal only. Commercial usage and refinance not
to be funded. NA
Minimum of 2 years RCM level

Profiles not to be funded:

 Special profile A as defined in policy

 Small Mobile and computer sales and service shops without license
 Vegetable vendors without business proof/Shop stability
 Computer peripheral sales
 All Plywood traders and manufactures (without license) without repayment and income
 Civil contractors

All other norms including verification not specifically mentioned above would continue to be applicable
Code – Used Car KNIP

30

Parameter
Scope
Age of applicant/ co-applicant
Applicable Products that can be
Availed individually or/in
combinations as deemed fit by
the customer
Loan Amount Eligibility
Maximum Loan Amount cap
Tenor & car age
CIBIL score
Current Employment Stability
Co-applicant
Banking
FOIR based product
Norm Deviation
Applicable for select list of reputed corporate as Any addition to this list
provided in Company list in last page to be done with the joint
approval of Head CFAB
and Head Risk CFAB.
Head Risk – TCL to be
kept informed for any
such addition.
21 years - 58 years. No Deviation
Loan tenure not to be beyond the retirement age of the
applicant / co-applicant individually.
No Deviation
Used Car Loan
Combination of income, FOIR & LTV as per grid No Deviation
mentioned below
 Used Car – LTV of up to 100% No Deviation
Note – Offer would be restricted to Tier-1 and 2
vehicles
 Used Car Loan – 12-60 Months No Deviation
 Age of the asset at the end of the tenor should
not be more than 10 Years
= > 650 No deviation on score
CIBIL policy would apply
on other norms
One year for the applicant and co applicant. Proof of
the No Deviation
same to be taken on records which could be either of
the following docs:
a) Form 16
b) Appointment Letter
c) Pay Slip if it states DOJ explicitly
Allowed for Income only. The co-applicant should be No Deviation
from the select corporate where this offering is made
applicable.
Average bank balances for last 3 months to be at
least one time the EMI. No Deviation
31
 Repayment has to come from the same bank
account.
RCU As per process No Deviation
Residence Mandatory - and should not be negative
Field Investigation for No Deviation

1. Non traceability
2. Defaulter /Bad Market Reputation
3. Poor Living Conditions
4. Person Does not exist

Office – Should be done & positive.

Not required if employment proof (Employee ID Card

and Letter from HR confirming employment/ Pay slip/
Form 16) on file.

Tele Verification Should be positive at either residence & office Credit Manager
Maximum Loan Rs. 20 Lakhs No Deviation
Income Last 3 months’ salary Slip No Deviation
As per the grid below which encompasses all
FOIR obligations No Deviation
as declared / appearing in CIBIL/Banking including the
current exposure proposed

Income considered to include only fixed components

and shall be the average of last 3 months’ salary
drawn.

Calculation of FOIR is the key for this product offering

hence this is required to be calculated in proper format
and details of all loans with EMI should be provided as
per format given in Annexure-1
Details of all EMI to be taken in to account
which
are live as per CIBIL (each outstanding loan
to
be mapped to bank statements with no
deviations). If there is any recent enquiry in
CIBIL that should also be clarified from
customer
whether he has already availed the loan or
not.
Bank statement to be scrutinized to check
whether the customer has availed any recent
loan and EMIs of all such loans to be taken in
to
account while computing leverage
Loan Eligibility Grid:

Net Salary 25K to < 50K 50K to < 75 K => 75 K

Maximum FOIR 55% 60% 65%

Note:
1. Any other norm not mentioned above would be guided by relevant existing policies of the concerned product.

32
 Format for calculation of leverage (FOIR – Fixed Obligation Income Ratio)

Product Loan amount Tenure Remaining Tenure EMI Banking where EMI is debited

Organized Players
Definition:
1. Manufacturer & Corporates driven private label programs for pre-owned cars are eligible under the program
2. Special Cat A & B are not eligible (refer annexure for list) class IV employees with 3.50lacs income excluded
3. Premium Cars are not eligible under the program

Criteria Credit norms Deviations

Eligible Borrower All Borrower segment
Vehicle Segment A1, A2, A3, A4 &MUV No Deviations
Asset Age CIBIL >=780 up to
Classification Tier 1 Tier 2 Tier 3 Tier 4 10 years else
Exit Age 10 Years 10 Years 09 years 09 Years Credit Head
No deviation
beyond 10 yrs
Stability-Residence 1 years at current residence for Self-employed to be owned-parents
name acceptable with relationship proof (or) 3 years if rented RCM
2 years for salaried or company provided/govt. leased/allotted
accommodation
Repayment of > 24Months vintage-PL/BL/Al/UCL/CV/LAP
Stability- Salaried: 1 year in Current job and total work experience of 2 years RCM
Business/job (or) Post graduate working in Super cat A, Cat A & Cat B companies
with 1 year of work experience
Self-employed: 02 years in business
Contactability Land line is mandatory at office Credit Head
Mobile phone of applicant-mandatory
Minimum Income Up to 20% lower
can be signed off at
Customer A1, A2, A3 A4 & MUV CH level
Salaried 2.5 Lacs 3 Lacs
Self Employed 2 Lacs 2.50 Lacs
Minimum  Repayment is mandatory for A4 & MUV of at least 30% of
Repayment proposed loan(Any loan repayment will do) (or) No Deviation at any
 Salaried customer with at least one credit card with 2 Lacs limit level
at least 40% usage in last one year and non- revolving (or)
 Income is equal to Loan amount
Loan Eligibility
Category Eligibility
Salaried 3Times
Others 4 Times
FOIR 70% for Salaried Credit Head
200% For Self employed
LTV Grid Maximum loan capped to 95% of valuation for Tier 1 & 90% for tier No deviations at
Classification Tier 1 Tier 2 Tier 3 Tier 4 any level
LTV +10% +5% As per As per
grid grid
2,3&4
Tenor Upto 60 Months for Tier 1,2 & 3 No Deviation
Max of 48 Months for Tier 4 allowed
Banking Latest 3 Months banking required(or) if no of transactions is more Template if score is
than 50 latest month bank statement can be accepted 780 else Credit
ABB of 1 Time of EMI (or) 5,000 whichever is Lower Head

Important note: Bureau (Cibil) score met with derogatory history have to be decisioned at RCM level
33
Credit Promo code Description
OTRUEVALUE Organized Maruti True value
OHYUNDADV Organized Hyundai Advantage
OAUTERRACE Organized Honda Auto terrace
OGENMOTOK Organized General motors OK
OTATASSURED Organized TATA Motors
OTKMUTRUST Organized Toyota U Trust
OFORDASSURED Organized Ford Assured
CMAHFIRCHOICE Corporate Mahindra First choice
CCARNATION Corporate Carnation

Decline reasons:
1. Dedupe Bad match
2. CPV Negative
3. Negative TVR
4. RCU Fraud
5. Income norms not met-applicable for income program only
6. Loan amount requested > Eligibility
7. Stability norms not met-Residence/Business

34
 Credit Card Surrogate

Definition:
1. Customers with Credit card history
2. Special Cat A & B are not eligible (refer annexure for list);
3. SE<30 Years (exceptions going concern >5 years and business is second generation proven through CPV report/PD)

Criteria Credit norms Deviations

Eligible Borrower All Borrower segment
Vehicle Segment A1, A2 &A3 No Deviations
Credit Card Only Private banks/MNC/SBI Cards with 3months statements No Deviations at
Minimum vintage:1year; 25% of Limit usage/ 25K for A1 & A2 and 50K any level
for A3
Should not be revolver
Never in 30DPD
Asset Age CIBIL >=780 up to
Classification Tier 1 Tier 2 Tier 3 Tier 4 10 years else Credit
Exit Age 10 Years 10 Years 09 years 09 Years Head
No deviation
beyond 10 yrs
Stability-Residence 1 years at current residence for Self-employed to be owned-parents
name acceptable with relationship proof (or) 3 years if rented RCM

Stability-Business/job Self-employed: 02 years in business RCM

Contactability Mobile phone of applicant-mandatory Credit Head
Credit Card Credit card Pvt. banks/MNC SBI 5% at CH level
(minimum limit) A & A2 75K 100K
A3 100K 150K
Loan Cap
Loan Amount Loan Cap
A1 & A2 2.50 Lacs
A3 4 Lacs

LTV Grid No deviations at any

Classification Tier 1 Tier 2 Tier 3 Tier 4 level
LTV 80% 75% 70% 65%

Tenor Upto 48 Months for Tier 1,2 & 3 No Deviation

Max of 36 Months for Tier 4 allowed
Banking Latest 3 Months banking required(or) if no of transactions is more than Template if score is
50 latest month bank statement can be accepted 780 else Credit
ABB of 1 Time of EMI (or) 5,000 whichever is Lower Head

Important note: Bureau (CIBIL) score met with derogatory history have to be decisioned at RCM level

35
 TW loan Surrogate

Definition:
1. Customers with TW loan history
2. Special Cat A & B are not eligible (refer annexure for list)
3. SE<30 Years (exceptions going concern >5 years and business is second generation proven through CPV report/PD)

Criteria Credit norms Deviations

Eligible Borrower All Borrower segment
Vehicle Segment A1, A2 &A3 No Deviations
TW loan track Minimum loan amount 30,000 No Deviations at
12MOB track with max one bounce paid in peak delay of 10 days any level
Never in 30DPD
Mfq Allowed Hero Motors/HMSI/Royal Enfield
Asset Age CIBIL >=780 up to
Classification Tier 1 Tier 2 Tier 3 Tier 4 10 years else Credit
Exit Age 10 Years 10 Years 09 years 09 Years Head
No deviation
beyond 10 yrs
Stability-Residence 1 years at current residence for Self-employed to be owned-parents
name acceptable with relationship proof (or) 3 years if rented RCM
2 years for salaried profile-Co provided/Govt/PSU quarters (not
applicable if owned)

Stability-Business/job Self-employed: 02 years in business RCM

Salaried 02 years
Contactability Mobile phone of applicant-mandatory Credit Head
TW loan TW loan 30Kto <50K >=50 Loan 5% at CH level
A & A2 6 times 5 times
A3 10 times 8 times
Loan Cap No deviation at any
Loan Amount Loan Cap level
A1 & A2 2.50 Lacs
A3 4 Lacs
Behavior Incase customer has other live loans other than TW cannot be done No Deviation at any
under this surrogate level
LTV Grid No deviations at any
Classification Tier 1 Tier 2 Tier 3 Tier 4
level
LTV 80% 75% 70% 65%
5% LTV deviation allowed as template over and above below grid for
score >=780
Tenor Up to 48 Months for Tier 1,2 & 3 No Deviation
Max of 36 Months for Tier 4 allowed
Banking Latest 3 Months banking required(or) if no of transactions is more than Template if score is
50 latest month bank statement can be accepted 780 else Credit
ABB of 1 Time of EMI (or) 5,000 whichever is Lower Head

36
 Premium Cars-Purchase Product

Definition:
All Category of Customers purchasing premium cars (A5, A6 & SUV’s) are eligible under the program
1. This program is not applicable where end usage is commercial even if the same is captured in as qualitative comment
in CPV
2. Note overrides all earlier policies on premium cars and all loans should be booked in this program

Criteria Credit norms Deviations

Eligible All Borrower segment
Borrower
Vehicle A5, A6 & SUV No Deviations
Segment
Asset Age EXIT Age: 08 Years CIBIL >=780 up
to 10 years
Stability- 2 years at current residence for Self employed
Residence 5 years for Salaried RCM
Norm not applicable:
If residence is owned(or) for self-employed office is owned(or)
Repayment of > 24Months vintage-PL/BL/AL/UCL/CV/LAP
Stability- Salaried: 1 year in Current job and total work experience of 7 years (or) Post Credit Head
Business/job graduate working in Super Cat A, Cat A & Cat B companies with 5 years of work
experience
Self-employed: 05 years in business
Contactability Land line is mandatory at office & Residence Credit Head
Mobile phone of applicant-mandatory
Minimum Up to 20% lower
Income than required
Customer Loan amount >10Lacs income for >7
Salaried 6 Lacs lacs Credit Head
Self Employed 4 Lacs
Minimum  Repayment is mandatory of a car loan of at least 30% of proposed loan (or)
Repayment  Salaried customer with at least one credit card with 3 Lacs limit and non- No Deviation
revolving (or)
 Income is equal to Loan amount
Loan Eligibility No deviation at
& LTV Category Income multiplier any level
Salaried 2-1.5 Times 1-1.5 Times 0.6-1 Times <0.6 Times Maximum loan
Others 4 Times 2.5-4 Times 1.5-2,5 Times <1.5 Times capped at 90%
LTV 5% lower Normal +5% +10%
offered
Special category:
Multiplier of 3 for salaried & 6 for SE with repayment track of Premium car with
loan amount of at least 60% of the proposed loan
Maximum 35 Lacs
Loan
FOIR 60% for Salaried Credit Head
200% For Self employed
Tenor Upto 60 Months No Deviation
allowed
Banking Latest 3 Months banking required(or) if no of transactions is more than 50 latest Template if score
month bank statement can be accepted is 780 else Credit
ABB of 1 Time of EMI (or) 10,000 whichever is Lower Head
Credit Promo Credit Promo Description
code code
PREMCARTRK Premium car with repayment track
PREMCARNRM Premium car with Normal
Important note: Bureau (CIBIL) score met with derogatory history have to be decisioned at RCM level

37
Decline reasons:
Dedupe Bad match
CPV Negative
RCU Fraud
Income norms not met
Loan amount requested > Eligibility
Stability norms not Met-Residence/Biz

Amendment in mandatory sampling of RC

Particulars New norms

Post transfer RCU sampling
to be done based on trigger
and would not be mandatory.

Mandatory RCU of vehicles RC – pre Pre transfer policy would be

and post transfer as per existing norm.

Repayment classification Track Record Definition:

Avg. Peak
Track Record Delay Delay
ETR (Excellent Track
Record) 5 days 10 days
GTR (Good track record) 10 days 30 days
ATR (Average Track
Record) 15 days 45 days

In addition to the above definition, the track record will be classified as ATR if either one of the following is applicable
1) Bounces in the last 6 months (or)
2) Bounces more than 25% of the total seasoning

Approved List of Banks/ Financiers

Repayment of Car/ PL can be taken from approved list of financiers/ banks. (Banks/NBFC/FI who share data with
bureaus)

Where a Customer has multiple contracts the track record of the worst performing contract would be taken. For instance,
if the customer has 4 running contracts of which in 3 contracts the average delay is less that 5 days and in one contract
the average delay is 12 days, then for the purpose of assessing the above condition the customer’s track record would be
treated as average delay of 12 days and hence not a ETR customer.

1) A track record is valid if and only if

 It is seasoned for minimum period of 12 months and
 Satisfy ETR or GTR norm and
 Validated with written proof.

2) Latest track record of live loans to be collected (not more than a month lag) with minimum seasoning of 12
months
 No overdue as on date
 If repayment frequency is quarterly then account should be online on quarterly basis, meaning all due
instalments and interest amounts are paid at the end of each quarter. However, at the time of application the
amount should not show any outstanding.
38
  If repayment frequency is quarterly, then one peak delay of maximum 30 days shall be allowed per year.

3) Track record should not be more than 6 months old.

4) NPDC repayment track will accepted only for TCL track records where the track needs to satisfy track record
definition provided above.
All nationalized banks offering EMI (Equated Monthly Installments)
(Any further addition to the list to be allowed at Product Risk Manager and Credit Head level jointly)

Track record validation:

1) Statement of account or debits in bank statement along with amortization schedule is considered as valid
document for repayment track record

2) Alternate proof for confirmation of repayment track - Repayment track confirmation through our empanelled
agency would be a valid document. EMI debits in last 6 months banking mandatory for considering the above
document as a valid document.

Average Bank Balance calculations and applicability

 Last 3 months banking to be documented

 Salary account in case of Salaried Individuals.
 Account from which PDC is given for self employed customers.
 In case of limited companies Bank Account to be the Concern’s Banking Account as per the Board Resolution.
 In case of others (Proprietorship, Professionals) the statement of primary account used for business transactions
to be collected.

Average bank balance in the bank

 For each month calculate the Monthly Average Balance where Monthly Average Balance = (Credit Balance in
account as on 1st, 5th, 15th and 25th /4)
 Let the Monthly Average Balance Be A1+ A2+ A3 (where A1 refers to the Monthly Average Balance in Month 1;
A2 refers to the Monthly Average Balance in Month 2 etc.) Average Bank Balance = (A1+ A2+ A3) / 3
 Minimum of 3 monthly credits mandatorily required.

Free Vehicles
Refers to vehicles free of any Loan and/or Hypothecation. RC book to be verified for the same.

Co-applicant
Co-applicant can be any of the following such as father, mother, son, daughter, brother, sister, father/ mother in law,
spouse.

Combined EMI
Combined EMI is to be calculated as the total of all EMI that are being serviced by the applicant. These should be verified from bank
statements, CIBIL and other repayment tracks submitted by applicant/ Co-applicant.

39
Other deviations
Salaried employees working for proprietorship /partnership firms or private limited companies getting cash salary. In such
cases a mandatory RCU check needs to be initiated on the salary slip/certificate and LTV and tenure to be considered as
in NIP norms.

Section 5 - Non Deviatable Norms

Sr. Criterion Norm

1. Minimum Age (in 21 Years (A co-applicant can be taken to meet age norms)
case of an
individual)
2. Minimum tenure 6 months
3. Imported car Not to be done
 Application form should be duly filled and signed completely and no blanks left.
Application form  Agreement to be signed from the customer where ever applicable and
5. and Agreement necessary stamp duty affixed or franked.

6. Tele verification Both residence and office to be positive as per FI/CPA

7. KYC Norms As per existing KYC norms
8. Group coding To be done, wherever existing/ multiple exposures exists for the
applicant or co-applicant.
9. Mode of Finance Loan (hypothecation)
10. Repayment Post Dated Cheque / ECS / NACH
Modality
11. Price The Base price for calculation of the EOF would be
Determination
• Valuation amount as indicated by the empaneled valuer to be
considered as price of the vehicle subject to difference not to
be more than 20%. Deviation of difference between valuation
and internal grid to be allowed at credit manager’s level.

• If difference between grid and valuation is more than 20%

than two valuations to be done and lower of the two valuations
to be considered.

• If difference between grid and valuation is more than 20% and

second valuation is not possible due to valuator’s availability
or any other reason than valuation amount would be capped
at 20% more than grid amount and that would be considered
as asset value.

• Valuation amount by approved manufacturer driven used car

outlets like Automart (Mahindra first Choice)/ True Value/
Honda Auto Terrace/ Hyundai Advantage/Tata Assured etc to
be considered as price of the vehicle and grid value need not
be referred in such cases.

12. Insurance Valid Insurance certificate/ICN with comprehensive cover

For sale purchase and refinance – 100% of loan amt with 5%
deviation at CH level
For CNC & Innovative CNC – 90% of asset cost or loan amount whichever is
lower,
40
 5% dev is allowed at CH level.

Validity of For policies expiring within one month from the date of application – New Policy
13. Insurance Policy effective from the date of expiry of the current policy (issued postdated) will have to be
collected before release of payment/RC Limit. – Credit Manager can deviate on this
Mandatory RCU of Post transfer RCU sampling to be done based on trigger and would not be mandatory.
vehicles RC – Pre Pre transfer policy would be as per existing norm.
14. & post transfer
For Commercial Registration – To have been paid till the last completed year/quarter/
15. Tax Certificate month as applicable. Applicability to be determined based on the previous tax challan.
16. Registration To be mandatory documented and checked with details provided in
book application.
17. Change of Funding restricted to 3rd owner only. The applicant should be the 3rd owner.
Hands
Two photographs (one of the engine – and one of the body from different angles) with
the registration number of the vehicle clearly visible to be collected. Not required in
case of manufacturer backed used car vehicles. This should be a part of the valuation
Photographs of report issued by the Empaneled valuer.
18. vehicle
Mandatory for all proposals. This should be a part of the valuation report issued by the
19. Chassis Imprint Empaneled valuer.
Hypothecation
20. clause Endorsement in RC Book:
 In case refinance is extended to a repeat customer of TCFSL, funding to be
done only based on NOC from TCFSL and hypothecation to be done in the name
of TCFSL.
In other cases:
 Non R/C limit cases – Hypothecation in favor of Tata Capital Ltd Pre
disbursement.
 R/c limit cases - Hypothecation post RO/ Disbursement/ Contract booking after
hypothecation in favor of Tata Capital Financial Services Limited.
21. Disbursement Disbursement can be made favoring:
towards Loan  The Borrower
 An intermediary/ seller of the vehicle with an authorization letter from the
borrower (KYC docs of such person to be collected.
 In favor of Channel where revolving credit facility is given. An authorization from
the customer to be collected.
All EMI due on the running (CV/PC/CE) contracts to be cleared before disbursal of the
22. Current Overdue new loan

Board resolution As per formats for all Pvt and Ltd companies and letter of authority for
23. and authority partnership firms.
letter
24. Repayment Monthly
frequency

41
Tier Classification: -
Model Degrade Existing CAT contribution% New CAT
AVEO - UVA Y Tier1 0.04% Tier4
Beat Y Tier1 1.86% Tier2
BOLT Tier1 0.02% Tier1
Captiva Y Tier1 0.22% Tier2
CELERIO Tier1 0.22% Tier1
Civic Tier1 0.71% Tier1
Corolla Altis Tier1 0.46% Tier1
Cruze Y Tier1 1.01% Tier2
Enjoy Tier1 0.31% Tier1
ERTIGA Tier1 1.89% Tier1
Estilo Y Tier1 0.41% Tier3
Figo Y Tier1 2.40% Tier2
Ford Eco Sport Tier1 0.47% Tier1
Honda Amaze Tier1 0.52% Tier1
HONDA BRIO Tier1 0.32% Tier1
Honda City Tier1 2.82% Tier1
Hyundai Eon Tier1 1.10% Tier1
Hyundai Xcent Tier1 0.04% Tier1
I 10 Tier1 3.80% Tier1
I 20 Tier1 4.58% Tier1
Indica Vista Y Tier1 1.77% Tier2
Innova Y Tier1 7.12% Tier2
Jaguar Y Tier1 0.11% Tier2
LODGY Tier1 0.01% Tier1
MARUTI CIAZ Tier1 0.03% Tier1
MARUTI STINGREY Tier1 0.02% Tier1
Micra Tier1 0.68% Tier1
MOBILIO Tier1 0.07% Tier1
Polo Y Tier1 1.64% Tier2
RANGE ROVER Tier1 0.02% Tier1
REXTON Tier1 0.12% Tier1
Ritz Tier1 2.01% Tier1
SKODA RAPID Y Tier1 0.79% Tier2
Swift Tier1 7.97% Tier1
Swift Dezire Tier1 6.22% Tier1
SX4 Tier1 1.23% Tier1
Terrano Tier1 0.19% Tier1
Toyota Etios Tier1 1.58% Tier1
Toyota Liva Tier1 0.31% Tier1
Vento Y Tier1 1.62% Tier2
Verna Tier1 3.46% Tier1

42
VOLVO (ALL VARIANTS) Tier1 0.03% Tier1
Wagon R Tier1 3.99% Tier1
ZEST Tier1 0.04% Tier1
A Star Y Tier2 0.39% Tier2
Accent Y Tier2 0.56% Tier3
Accord Tier2 0.26% Tier2
Alto Tier2 4.09% Tier1
Audi (All variants) Tier2 0.60% Tier2
AVVENTURA Y Tier2 0.01% Tier4
BMW (All variants) Tier2 0.87% Tier1
CAMRY Tier2 0.02% Tier2
Chevrolet Sail UVA Tier2 0.21% Tier2
CR-V Tier2 0.14% Tier2
Datsun Go Tier2 0.04% Tier2
ELLEGANCE Tier2 0.01% Tier2
Endeavor Y Tier2 0.45% Tier3
Fabia Y Tier2 0.77% Tier4
Fiat Linea Tier2 0.32% Tier2
FORD CLASSIC Tier2 0.01% Tier2
Fortuner Y Tier2 1.97% Tier2
GETZ Tier2 0.09% Tier2
Hyundai Santa Fe Tier2 0.11% Tier2
Indigo CS Y Tier2 1.21% Tier3
Indigo Manza Y Tier2 1.04% Tier3
Jazz Tier2 0.23% Tier2
Jetta Tier2 0.29% Tier2
Laura Y Tier2 0.83% Tier3
Linea Tier2 0.17% Tier1
Mahindra XUV 5OO Y Tier2 2.16% Tier2
Mahindra Quanto Tier2 0.27% Tier2
Maruti 800 Y Tier2 0.04% Tier4
Mercedes Benz (All variants) Tier2 0.68% Tier1
Nissan Sunny Tier2 0.39% Tier1
Octavia Tier2 0.12% Tier2
OPTRA Y Tier2 0.14% Tier4
PAJERO Y Tier2 0.22% Tier3
Passat Tier2 0.09% Tier2
Porsche(All variants) Tier2 0.02% Tier2
Punto Y Tier2 0.56% Tier3
Renault Duster Tier2 1.38% Tier1
RENAULT KOLEOS Tier2 0.02% Tier2
Renault Scala Tier2 0.27% Tier2
Santro Tier2 2.04% Tier2
Spark Tier2 0.70% Tier2
Superb Tier2 0.17% Tier2
Yeti Y Tier2 0.09% Tier4
Aria Tier3 0.17% Tier3

43
Aveo Y Tier3 0.11% Tier4
BEETLE Tier3 0.02% Tier3
CEDIA Tier3 0.01% Tier3
ELANTRA Tier3 0.04% Tier3
Fiesta Tier3 0.73% Tier3
FORCE ONE Tier3 0.02% Tier3
HYUNDAI ELENTRA NEO Tier3 0.04% Tier3
Indica – All other Variants Tier3 0.52% Tier3
INDIGO ALL OTHER VARIANTS Tier3 0.47% Tier3
MAHINDRA THAR Tier3 0.01% Tier3
MARUTI KIZASHI Tier3 0.01% Tier3
NANO Tier3 0.10% Tier3
Optra Magnum Tier3 0.04% Tier3
OUTLANDER Tier3 0.07% Tier3
RENAULT FLUENCE Tier3 0.08% Tier3
Renault Pulse Tier3 0.09% Tier3
Scorpio Tier3 3.26% Tier2
Sonata Tier3 0.01% Tier3
Tavera Tier3 0.61% Tier3
TEANA Tier3 0.01% Tier3
Venture Tier3 0.04% Tier3
Verito Tier3 0.23% Tier3
VITARA Tier3 0.01% Tier3
X-TRAIL Tier3 0.02% Tier3
Xylo Tier3 1.29% Tier2
Zen Tier3 0.18% Tier3
ZEST Tier3 0.01% Tier3
Bolero Tier4 0.93% Tier3
Eeco Tier4 0.99% Tier3
IKON Y Tier4 0.01% Tier4
Omni Tier4 0.36% Tier3
Safari Tier4 0.98% Tier3
Sumo Grande Tier4 0.18% Tier4
SUMO VICTA Tier4 0.06% Tier4

*Model addition tier classification-would be approved by Risk Unit

44
 List of approved corporate for FOIR based product

Corporate Name Website Category

Adhunik Metalic Ltd adhunikgroup.com Super Cat A
Advinus Therapeutics advinus.com Tata Group
Bharti Airtel Ltd. airtel.in Super Cat A
Apollo Hospitals apollohospitals.com Super Cat A
Croma cromaretail.com Tata Group
Dabur Industries dabur.com Super Cat A
Ginger Hotel gingerhotels.com Tata Group
Glaxo Smithkline gsk.com Super Cat A
Godrej Group godrejappliances.com Super Cat A
HCL Technologies Ltd hcl.com Super Cat A
HPCL hindustanpetroleum.com Super Cat A
HSBC hsbc.co.in Super Cat A
Idea Mobile idea.adityabirla.com Super Cat A
Indian Hotels Co. Limited tajhotels.com Super Cat A
Indusind Bank Ltd. indusind.com Super Cat A
Infosys Ltd. infosys.com Super Cat A
Infrastructure Leasing & Financial Services Ltd. ilfsindia.com Super Cat A
J K Tyre & Inds. Ltd. jktyre.com Super Cat A
J K Cement Ltd. jkcement.com Super Cat A
JUSCO juscoltd.com Tata Group
Larsen & Toubro Ltd. larsentoubro.com Super Cat A
Mjunction Services Limited metaljunction.com Tata Group
North Delhi Power Limited ndpl.com Tata Group
Oil & Natural Gas Corpn. Ltd. ongcindia.com Super Cat A
Oracle Financial Services Software Ltd. oracle.com Super Cat A
Rallis India Ltd. rallis.co.in Super Cat A
SHAPOORJI PALLONJI GROUP shapoorji.com Super Cat A
Siemens Ltd. siemens.com Super Cat A
Simplex Infrastructures Ltd. simplexinfrastructures.com/india.aspx Super Cat A
Steel Authority Of India Ltd. sail.co.in Super Cat A
Tanishq tanishq.co.in Tata Group
Tata Advanced Systems Ltd. tataadvancedsystems.com Tata Group
Tata AMC tataamc.com Tata Group
Tata BP Solar tatabpsolar.com Tata Group
Tata Business Support Services tata-bss.com Tata Group
Tata Capital Ltd (TCFSL & TCHFL) www.tatacapital.com Tata Group
Tata Chemicals Limited tatachemicals.com Tata Group
Tata Communications Limited tatacommunications.com Tata Group
Tata Consultancy Services Limited tcs.com Tata Group
45
TATA Docomo tatadocomo.com Tata Group
Tata Elxsi tataelxsi.co.in Tata Group
TATA GLOBAL BEVERAGES LTD tataglobalbeverages.com Tata Group
Tata Growth Shop tatagrowthshop.com Tata Group
Tata Hitachi tatahitachi.co.in Tata Group
Tata Industries Ltd tata.com Tata Group
Tata International tatainternational.com Tata Group
Tata Macropolo tatamotors.com Tata Group
Tata Metaliks Ltd. tatametaliks.com Tata Group
Tata Motors Finance Ltd tmf.co.in Tata Group
Tata Motors Limited tatamotors.com Tata Group
Tata Power Co Limited (Strategic Electronics Division) tatapower.com Tata Group
Tata Projects Ltd tataprojects.com Tata Group
TATA Realty And Infrastructure Ltd. tata-realty.com Tata Group
Tata Refactories tataref.com Tata Group
Tata Sky tatasky.com Tata Group
Tata Sons tata.com Tata Group
Tata Steel Ltd tatasteel.com Tata Group
Tata Technologies Ltd tatatechnologies.com Tata Group
Tata Teleservices Limited tatateleservices.com Tata Group
TCE Consulting Engineers tce.co.in Tata Group
Titan Industries titan.co.in Tata Group
TMTC tmtctata.com Tata Group
Torrent Pharmaceuticals Ltd. torrentpharma.com Super Cat A
Trent Limited (Westside) trent-tata.com Tata Group
TRF Ltd trf.co.in Tata Group
Viom Networks viomnetworks.com Tata Group
Visa Steel visasteel.com Super Cat A
Vodafone vodafone.com Super Cat A
Voltas Limited voltas.com Tata Group

46