Frequently Asked Questions
Getting started with Capri Global
Find answers to all your questions here. Browse through these FAQs to find answers to commonly raised questions. If you are going to avail our loans, we encourage you to read through the relevant articles.
How do I approach for loan?
Fill up enquiry form at website or contact at the customer care no’s, we will love to serve you.
What Documents are needed for approving a loan?
At Capri we ensure that minimum documents are collected and evaluation is done of your proposal. We require below mentioned documents: ID proofs, address proofs, Bank statements, Property Papers, Financials
How many days you take to sanction a loan?
At Capri each case undergoes a thorough evaluation process. We normally take 7 to 15 working days to decision the loan depending upon sufficient fulfillment of requirements.
What Charges do I need to pay along with interest?
Kindly refer the section schedule of charges.
What type of installment options are available to me?
Capri offers Equated instalment as well as Structured installment options for tenors 12 to 120 months.
What type of properties are funded by CCGL?
You can speak to the Relationship Manager for more details on this.
We have customized income programs to calculate your loan eligibility which takes into account your actual income. We will determine your loan eligibility largely by your income and repayment capacity and collateral offered. Other important factors include your age, qualification, number of dependents, your spouse’s income (if any), Other Income, Assets & Liabilities, Savings History and the Stability & Continuity of occupation.
Our interest rates depend upon creditworthiness and market conditions.
Your requirement is assessed on the following parameters: Quantitative Parameters 1. Financial Ratios 2. Sales Turnover and Profitability Record 3. Credit History Qualitative Parameters 1. Management Details / Shareholding Pattern 2. Understanding Business Models through Personal Discussions 3. Industry
Minimum age of the self employed applicant should be 25 years & Maximum age of 65 years.
Following will be taken as security 1. The Asset financed (Equipment proforma Invoice mandatory prior to disbursement in all cases) 2. Hypothecation endorsement in the invoice and insurance (Including Transit Insurance) to be present before disbursement of loan along with Equipment Loan cum Hypothecation agreement. 3. Additional Property collateral or any suitable collateral such as Fixed Deposits and LIC policies (as specified from time to time by us)
The rate of interest varies depending upon your loan amount, property type, income etc and this will be communicated to you by our sales representatives.
The stages involved are: 1. Application 2. Processing 3. Documentation 4. Sanctioning of the loan 5. Disbursement
Still have questions?
As history dictates, women globally,have faced an uphill battle on an uneven playing field to earn the right to be treated as equal citizens, both legally and socially. In India, discrimination and marginalisation is evident even in political and economic involvement, access to education and decision-making positions. While the feminist movement has made great strides, struggle is still prevalent today. In 2019, the hindrance for women to thrive in the workplace is certainly not the lack of qualification or ability. Everyday sexism, lack of transparency, gender wage gap and sexual harassment is the tip of the ice berg.
It was Melinda Gates who said, ‘When we invest in women, we invest in the people who invest in everyone else.’ In order for India’s economy to progress, we need to create an empowering environment that promotes women at all levels to reshape the conversation, change the dynamic and make sure that their voices are heard. In a deeply patriarchal society, one may ask the question, ‘Why is there a need for equal female representation in the workplace?’ The answer lies in the statistics.
The current female population in India is 48.4%. From this, the labour force participation rate for Indian women is a meagre 28.5%. This means that there are 235 million missing workers. An unbalanced ratio that certainly puts India (the second largest economy in the world) at a developmental disadvantage. We have made humble progress in closing the gender gap in the last decade, rising from the rank of 98th to 87th in the World Economic Forum’s Gender Gap Report. It aggregates a range of indicators from health and education to economic and political participation. If we were to rebalance and equalize our workforce, the IMF estimates, that India would be 27% richer, effectively turning into a developed nation. This unrealized contribution of women is one unfortunate reason why 60% of India is still in poverty.
The Working Woman
Oxford Dictionary defines success as ‘the accomplishment of an aim or purpose’. Who/What defines this yardstick to measure success in the workplace is open to interpretation. Is it the amount of zeroes in a salary? Or the field of authority in one’s possession? Or even the capacity to balance a personal and professional life? Our conversation with various female employees at Capri holding different positions, having had unique experiences in the world of Finance, revealed that there is a shared link. The appreciation for being accountable for the decisions made by them i.e. the ambition and monetary independence earned through the role of a working woman. ‘In the next 5 years, I see myself as the head of the Administration Department. I want to become stronger within my own identity and achieve all the goals I set for myself’ says Charu.
We have all heard the saying, ‘All work and no play makes Jack a dull boy (or Jill a dull girl!)’. Maintaining a work-life balance is essential for productivity, holistic living and mental health. For women employed in typically male dominated industries, finding this balance can be an idealistic fantasy. Extended office hours, pressure to work harder than male counter parts for equal recognition and the challenge against remaining in a subordinate position to prioritize household responsibilities can be the dominant deterrents. ‘A routine work day makes me feel that 24 hours is not adequate. Time passes so fleetingly; it is hard to grasp the speed of the passing days. It’s only home to office and office to my home’ says Priyanka.
Employers are required to provide 26 weeks of paid maternity leave, while they are not obligated to provide paternity leave. This creates the stigma of a ‘motherhood penalty’ for working women. Additionally, this influences hirers to prefer men over women to reduce the burden of the added wage. Along with this, Indian mothers are expected to shoulder the burden of domestic duties. By creating flexible work hours, childcare benefits, on-site day care facilities to be utilized by both parents would promote equality, reduce stress, and promote an efficient employment approach and lifestyle. This also enables an inclusive and women-friendly work environment.
The Concern for Safety in the Workplace
The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act was enacted in 2013 by the Indian Government. It covers all women, irrespective of their age or employment status and protects them against sexual harassment at all workplaces both in public and in private sector, whether organized or unorganized. At the time of employment, women should be made aware of their rights and how to apply them. A secure human resources department, having transparent procedures in place and a ‘prevention is better than the cure’ mentality already fixes a lot of problems.
Small steps for change
The Ministry of Women and Child Development has invested over Rs.300 crores in the past 15 years to empower rural women. The initial underprivileged women gain access to skills, markets and business development services. As a result, they have experienced greater food security, better access to finance, and higher incomes that benefit themselves and their families. Last year, Prime minister, Narendra Modi launched the Amma Scooter Scheme - the All India Anna Dravida Munnetra Kazhagam Government’s flagship programme – in Chennai. In this initiative, the state government offers a Rs 25,000 subsidy for women to buy two-wheelers for an easy and safe commute to work. Women are able to secure positions at the village council level and are being included in decision making alongside men in rural parts of India.
“IN THE FUTURE, THERE WILL BE NO FEMALE LEADERS. THERE WILL JUST BE LEADERS.” — SHERYL SANDBERG
A decade ago, a kirana store owner could not even consider approaching the bank for a loan. If a poorly educated woman wished to start her own boutique, she was better off reaching out to her relatives than getting sucked into the time-consuming process of borrowing from a bank that would eventually deem her creditworthiness to be nil. Today, the scenario is very different. NBFC’s have played a critical role in the financial inclusive growth of India. It is considered to be a ‘consumer finance revolution’ due to its swift processing and the substantial reduction in time taken for credit decisions. Their biggest contribution to the economy has been their role as financiers to the unorganised sector as well as to individuals without adequate collaterals to mortgage. It is undeniable that traditional banking still holds dominance in many ways but NBFCs have formed a new, parallel system that has the ability to accomplish things other financial institutions are unable to.
In 2018, the financial markets faced an extremely turbulent time when one of the biggest financial services NBFC defaulted on meeting its repayment obligations. The underlying issue was that IL&FS was using short-term instruments like Commercial Papers ( CPs) and Non-Convertible Debentures (NCDs) to meet its long-term funds requirement. They were defaulting on payments to their creditors because of Asset-Liability mismatch (ALM). Due to this cycle of borrowing funds from the market for a shorter tenure but lending for longer as well as being overleveraged resulted in market disruption.
Although IL&FS should not be compared to the rest of the NBFC sector, the event fuelled loss of confidence from creditors such as banks, corporates, insurance companies and mutual funds.
There were sharp losses in NBFC stocks, higher funding costs and massive pressure on margins. Business investors and leaders subsequently shied away from lending resulting in liquidity crisis slowing down economic growth at large. NBFC’s were abided by stringent rules from the RBI that further restricted funding. Moreover, 1500 NBFC registrations were cancelled by RBI as it stepped up supervision.
Capri’s management of the situation
While NBFCs, especially the ones catering to the urban and rural poor faced setbacks, Capri with AA rating in the industry faced this difficult time pragmatically. With financial liquidity in backup, Capri continued lending on strict merit and selective basis . It has always followed strict monitoring policies which prevented delinquency. While regulators required capital adequacy (CAR) is 15%, Capri was standing tall at 40%. The capital cover was way over 1300 crores, which ensured smooth functioning of its business. “The rich discipline of the management rules followed during this time fortified further lending provisions to its esteemed clientele,” Surender Sangar – Head of Construction Finance, Capri Global.
The underlying problem for the crisis was poorly managed ALM. However, Capri enjoyed comfortable liquidity position in the crisis as its ALM is supported by sufficient capital (CAR), long term funding and no dependency on short term funding instruments such as CP.
Capri enjoys the vision of very agile business leaders that have prepared the organisation to stay ahead of the curve. “It is the combination of our sound lending policies, vigilant monitoring, prudent and experienced top management that helped us remain unaffected by this crisis.” added Surender.
“Every 5 years, NBFCs phase through some sort of growth pangs... This happens when NBFCs take an aggressive growth path. NBFCs slow down during times of stress; and when a sense of normalcy returns, they start doing brisk business. The current stress is just a minor blip. There are higher opportunities (for NBFCs) for at least 15 - 20 more years,” Umesh Revankar, MD-CEO of Shriram Transport Finance Company.
Currently the market is very vulnerable, still reeling in the aftermath of the default. The cost of borrowing has increased substantially. The guidelines from RBI are tight and unforgiving. While the liquidity squeeze is not a new issue, it has affected the growth and margins for many players. Slowly but steadily the markets are reaching a stage of financial agreeability but it is still very delicate and demands support from the borrowers. By increasing interest rates temporarily, it can reach a stage of higher discipline and survival of the fittest according to Surender.
“IN THE END, IT’S ALL ABOUT THE CONNECT. ALWAYS, THE CONNECT”
–Amar (Head Of Sales At Capri Global)
It’s been two fruitful months of getting to know Dikshaji Patel. She has been a source of inspiration for me. I remember the day, 14th December 2018 when I first approached her for a loan from Capri to help her expand her business of hand woven, dainty ladies’ bags. This time has been a struggle for both of us in a way- Me as a salesman and she as an MSME entrepreneur. This relationship has become more than just a sales deal for me. I genuinely want her loan to be sanctioned and I want her to succeed.
This time spent negotiating with her revealed our vulnerabilities to each other. At first reserved and guarded, during the course of our meetings, she and I have built connect over time.
That time she said, “I don’t know how my business will work Amar. Will this loan really help me?” And I assured her with the deepest conviction that it would. When she said, “I am just a sales deal for you right?” And I said, “You were at first, now you’re a friend and I’ll make sure to lend you the money in the most seamless way possible. Trust me.”
I recall her narrating the hard work that has gone into creating a life for herself in the past five years since her divorce and her perseverance to gain a loyal list of 200 clients who swear by her unique designs of bags.
The hard work of late night design ideation, the endless cups of tea to fuel her vigour, the dilemma to sell bags on credit and her fearless attitude to create her niche in a competitive market of ladies’ bags. I think of that pure innocence, after seeing my pre-occupied face on one of those meetings with her, with which she said, “What worries the great Salesman?” And I candidly told her, “I have to meet my sales target for the month. But don’t worry, I won’t pressurize you.” She just smiled so warmly that at that moment I wished the best in the world for her.
The travel in the 9:45 am rush hour local totally wakes me from my reverie as I push my way out the train. I plead the cabbie to reach me work in 10 minutes and he does! I almost forget to punch in when our receptionist calls me back to do the needful.
Anita calls out calmly, “Amar, please punch in” but sternly and compels me to obey. I run into the conference room where the morning meeting with the rest of the sales team is already in progress. I excuse myself with the usual “sorry” face to my annoyed boss and join the meeting. We discuss each of our prospects for the day, our targets for the month and again we zoom out the office to close the impending deals.
An established presence in over 10 states and more counting, Capri is serious business and I can really see myself growing here. As head of sales, with my ground work done and cold calls made, I reach out to my sources to give me more leads as I reach Dikshaji’s building. Repeating to myself my elevator pitch on why procuring a loan from Capri will help her further expand her business. I nervously ring the bell and she promptly answers the door with a determined smile.
I enter the door and she invites me to sit on the sofa in the living room. She offers me some tea and I accept gladly. I recite my pitch with quiet confidence and she stills seems unconvinced.
Then I break into a logical analysis, relying on my sales skills and explain to her the very vivid benefits of taking a loan from us. For a good 15 minutes, she is quietly contemplating her options. Feeling like I have lost out on her, I thank her for her time and start walking out unsteadily. Just when I am ready to enter the lift, she calls me. She says, “Amar, I think I will take the loan from Capri.”
I turn around jubilant with joy, trying to hide my emotions but failing badly at that. She smiles and tells me to login her details into our sales files and asks me the date of loan sanction.
I explain her loan sanction process and leave with a promise that I will get back with ready documents for her to sign to process the loan further in another 2-3 days.
I jump with joy in the lift and head to office with a winning expression to clock in again and file Dikshaji’s papers. I inform my boss about the conversion and he happily slaps me on the back beckoning me to continue doing great work!
I return home to a waiting wife and tell her the good news and she says, “There’s dal and rice for dinner.” I get back to reality and ask her to bring it for me. I eat stress free and go to bed with a satisfied soul waiting for the promise of the dawn of another day to close another deal.
I realized one thing that day, salesmanship is all about building relationships with customers. It’s about understanding their needs and delivering the right product that complies with their requirements. The nervousness of approaching a prospective client, the uncertainty of their unconvinced attitudes, the adrenaline rush of seeing them turn into customers and the joy of meeting my monthly targets beckons me to sweet dreams.