INTERNSHIP REPORTON IndianInfoline Limited
Submittedby underthe guidance of
Aishwarya v Nair Mr sony joseph
22nd batchMba mbadepartment
1. IIFL is a financial service conglomerate which was started by a group of passionate entrepreneurs in 1995. It
was a pioneer in the retail broking industry with its launch of 5 paisa platform which offered the lowest
brokerage in the industry and freedom from traditional way of transacting.
2. India Infoline Finance Limited, Thane, Mumbai was selected for the internship and organisation study during
the months of May and June 2017 which provided a hand on experience in the NBFC
3. The internship was primarily focussed on gaining first-hand experience in the SME department of IIFL which
provides loan to small and medium scale enterprises. The organisation study covered an understanding on the
organisational structure and preparing a swot analysis for IIFL.
4. This Organisation study and internship intends to cover the industry profile, company profile and also the
key learnings from the internship.
5. Apart from banks the Indian Financial System has a large number of privately owned, decentralized and small
sized financial institutions known as Non-Banking Financial Companies.
1. To Understand How An Organization Practically Works In Real Situation.
2. To Study About The Hierarchy And Organisational Structure Of The Company.
3. To Understand The Working Of SME Department.
4. To Study On Key Learnings Of The Company.
Scope of Study
1. The report is based on the study conducted at the Indian Infoline Finance Limited, Mumbai.
2. It aims at understanding the company’s establishment, organisation structure, departments, marketing strategies.
3. It helps in understanding the functioning of SME department and other related functions.
1. Managers and other officials were busy in their work so I didn’t get enough opportunity to discuss about the company
2. There were not much employees as they went to the field for doing their work.
3. Managers were not willing to disclose information regarding the organisation.
• Non-Banking Financial Company is a company registered under the Companies Act 1956 and is engaged in the
business loans and advances, acquisition of shares, stock, bonds, debentures, securities issued by government or
• It also includes securities of like marketable nature, leasing, hire purchase, insurance business, chit business
Types of companies
(a) Equipment leasing companies
(b) Hire- purchase finance companies
(c) Housing finance companies
(d) Investment Companies
(e) Mutual Fund Benefit Companies
(f) Chit fund companies
(g) Residuary companies
• NBFCs are emerging as an integral part of Indian Financial System and have commendable
contributions towards government agenda of financial inclusion.
• The banking sector is financing only 40% of the trading sector the rest is by the NBFCs. They have
been providing credit to retail customers in undeserved and unbanked areas.
• NBFCs play a key role in the development of important sectors like Road transport and infrastructure
which are the life lines of our economy.
• RBI’s financial stability report says NBFC loans expanded 16.6% in the year, twice as fast as the 8.5%
credit growth across the banking sector.
• The aggregate balance sheet of NBFC sector expanded 15.5% in fiscal 2016 compared with 15.7% the
Contribution to the country
• NBFCs play a critical role in the economic development of the country by developing the sectors like transport,
employment generation, wealth creation, bank credit in rural segments and to support financially weaker sections of
• The banking sector would always be the most important sector in the field of business. But despite this, the roles of
NBFCs are critical and their presence in the country would only boost the economy in right direction
• IIFL was founded on Oct 17, 1995 by Nirmal Jain, a 1989 graduate from Indian Institute of management ,
Ahmedabad and topper chartered accountant.
• Today, IIFL Holdings Limited is India’s leading integrated financial services group with diverse operating
businesses, mainly Non-Banking and Housing Finance, Wealth and Asset Management, Broking, Financial Product
Distribution, Investment Banking, Institutional Equities, Realty and Property Advisory Services.
• IIFL was the pioneer in the retail broking industry with its launch of 5paisa trading platform which offered the
lowest brokerage in the industry and the freedom from traditional ways of transacting.
• IIFL- SME business loan are designed to fund the working capital needs to run a business smoothly. A subsidiary of
IIFL Holdings Limited, India Infoline Finance Ltd.
• The mission of IIFL is “From an entrepreneurial start-up in 1995, we have steadily grown to emerge as one of
India’s leading financial services group.
• The Vision of IIFL is “To be the most respected company in India”
• It is a private company which was founded by Nirmal Jain to help people in getting loans in a faster way. There
was a need where people having business needed loan for running their business and a new idea of NBFC
emerged and this gave a starting to many NBFC’s in which one of them is IIFL.
INTERNSHIP DEPARTMENT PROFILE
• SMEs contribute immensely to the industrial output and export of goods and services. Indian Small and
Medium Enterprises (SME) sector has emerged as a highly vibrant and dynamic sector of the Indian
• Small and medium enterprises (SMEs), particularly in developing countries, are the backbone of the
• SME Department in IIFL looks after the needs of the small and medium scale enterprises to run their
business and helps them by providing loan for their requirements. Its major role is providing loan for
conducting of the businesses of small and medium scale enterprises.
• SME department of IIFL has three products they are insta, fast track and business loan
SALES CREDIT FCU OPERATIONS PAYMENT
These are the following processes being done by the employees of IIFL before passing the file for payment.
• Sales - The sales team identifies the segment in which there is requirement for business loans,
collects necessary documents from the clients & arrange them in File as per check list given. RM
handover the file after the required checks to Inward Desk for further process.
• Credit - CPA checks if the file is complete or not and if the file is accepted then a CAM & System entry
(LOS) is being done then the file is sent to respective credit manager.
Decision Making Process
• FCU- FCU team verifies the documents and they send the FCU report to the credit team. The credit team
verifies the documents & find if there are fraud or Mismatched, etc.If the FCU report is negative then it is
either rectified or else the file will get rejected and if report is positive then it goes for further process.
• Operations- Operation Team checks all documents as per the check list and raises the queries if any found and
in case the query is in system then sales team is informed and then it is send to credit team for rectification if
any. After the query is resolved then it is send to credit manager for taking the final decision.
• Payment- The Disbursement team gets the mail from ooperations team and he checks if the case is favourable,
and if found favourable then the checks are scanned and send for payment by the customer.
Departmental Core Competencies
SME department is one of the important departments of IIFL, which fulfils the working capital needs of the
organization. SME is a well-organized department which works in a systematic manner and accomplishes the
objectives being set.
The department aims at generating customer satisfaction as the key to satisfying organisational goals. Good
customer service (by way of providing the loan amount in a timely manner and helping them when the need
arises) is the life blood of any business.
Key Result Areas
• SME is a department of IIFL which looks after the loan requirements of the customers having small and
medium scale enterprises.
• The department looks if the following is fulfilled or not like the customer should atleast be in business
since three years, either the residence or the corporate office should be owned by the customer, the
customer should have atleast two years to which he has earned the profit, there shouldn't be any EMI
bounces made by the customer, the industry in which the client shouldn't be a negative industry.
• The credit manager looks after the five C’s which is used for checking eligibility, they are character, capacity,
capital, collateral and condition.
• The disbursement desk again checks for any queries and if found sends it back to the sales department and
after resolving it, the file is sanctioned for payment of the amount stated by the customer.
• In SME department of IIFL, there were basically two divisions( sales and credit) which works together and
constitute the SME department as a whole.
• To work with the sales team of IIFL.
• To work with credit team
• To have an understanding on digital finance department
• KYC (Know Your Customers) - It’s a form which contains all the details about the customer like name,
place, place of office, PAN Card and Aadhar card details. This is to be checked by the sales guys and after
that only it is passed to credit team.
• Cold calling- It is a market tool which is used to interact with customers regarding the loan products and
help them in getting loan when needed.
• Balance sheet- a statement of the assets, liabilities, and capital of a business or other organization at
a particular point in time, detailing the balance of income and expenditure over the preceding
• Profit and loss account- an account in the books of an organization to which incomes and gains are
credited and expenses and losses debited, so as to show the net profit or loss over a given period.
a. Company Profile
b. Company Documents
c. Company Staffs
d. Head of the Department
Challenges and Opportunities Faced by the department
• High income urban families
• More penetration into the growing cities
• Intensified competition
• Customers more interested in bank than Non-Banking Financial Corporation
• Higher interest rates as compared to other banks
• They do not accept demand deposits
Findings and Suggestions
• Customers are not aware about the organization
• There is a company bus in which employees could travel easily after their working hours till 9 pm.
• Demand deposits are not accepted by the organization.
• Gifts or incentives were not provided by the organization.
• There were less space in the credit and marketing department to inculcate the increasing number of
• The interest rate is high as compared to other banks
• There was no system being provided for interns.
• Advertisements can be raised and hence it will bring more customers towards the company and make
• Interest is charged less could encourage more customers towards the organization.
• Tenure for repaying the loan could be increased so that people could relax and pay as per their
• Timely awareness of the progress of their loan amount could help the customers in being intact with
the progress of their loan sanction.
• Internship was aimed to have an experience on the job and also to have a study on the organisation.
• IIFL is a company which provides the loan for their small and medium scale enterprises.
• They provide three types of loan they are insta, fast track and business loan. They provide many services
and this is being done as these activities increase the customers by treating them loyally.
• These company provide customer better services and thereby increases convenience and thus