By Accommodation Times News Service
Q1. It is said that leaders have to work in volatile environment? Do you agree this personally and how it affects your leadership?
A1. The competitive nature and constant evolution of the corporate world means that volatility exists for everyone. Keeping pace with the industry and thinking ahead is a must for any leader. My priority is to ensure that my colleagues and I are always receptive to change and find ways to adapt and use it to our advantage.
Q2. Indiabulls Housing Finance is a major Indian focused company. As the Business Head do you feel at times that it should be present throughout Asia or elsewhere?
A2. We have dedicated branches throughout India and in other markets like Dubai and London. Apart from this, we cater to the home loan requirements of a vast NRI segment from various countries.
Q3. Sebi has lowered the process of raising funds via bonds; does that impact the future of fund raising plans of all the HFCs?
SEBI recently came out on the exposure norms for MFs in NBFCs and HFCs. These norms will affect the fund raising plans of entities having a high reliance on funding from mutual funds.From our company’s point of view, our bonds are well diversified and accepted across all investors like insurance companies,banks andprovident funds apart from mutual funds.
Q4. What is your current status of borrowed bonds?
A4. Our borrowing program in bonds is doing well and is largely unaffected by the new SEBI norms.
Q5. Do you think the Real Estate Sector is always under pressure of resource crunch? How much do you agree on this?
A5. It is more cyclical in nature as we have seen Real Estate markets in better times quite often with no dearth of resources. With a lot of traction for end users at present, especially in the affordable segment, we can see collective resources moving in the right direction.
Q6.Frauds in Home loans or any kind of loan occurs. This problem is getting bigger day by day, how you look into it?
A6. Across the financial sector, frauds have dropped in number but increased in size. Technology has become the biggest driver of growth in financial services sector and this is making institutions susceptible to risks from fraudsters so are also controls in place. While adopting newer technologies, organizations should pursue a more strategic approach to fraud management within. There needs to be ample counter measures like well trained staff and a dedicated department to control this risk in the organization.
Q7. These frauds happen mostly in real estate. So is it a developer specific problem or sector specific problem?
A7. Frauds may happen in any sector. In fact, identity theft, mobile banking, fake KYC and credit/ debit cards related frauds are abundant. Therefore, we cannot apportion problems to any specific sector. In home loans the property is the main collateral and goes through several checks, hence, instances of fraud are low compared to other sectors.
Q8. Slowdown in economy has impacted the growth in home loans. Do you agree? Why?
A8. I partially agree here because we have taken timely steps of shifting our focus to Tier II cities and resale market which has cushioned us from the slowdown. Due to these corrective measures we have been able to clock growth year on year. Having said that, we have definitely seen a slowdown in the economy. Home loan sales have a direct correlation with economic growth which increases capabilities and generates new employment which furthers the growth for new houses.
Q9. You have a big time commitment with the company. Are there any particular challenges you face as the Business Head of the company?
A9. Keeping up with the constantly evolving technology standards to provide better customer experience is one of the primary challenges faced by the head of any financial sector organization today. In a tough market and long tenor product, acquiring and keeping customers happy is an everyday thought and challenge.