A fast-growing private sector bank in India was looking to significantly scale its operations. The Bank needed a reputable professional firm to which it could outsource various Assurance services. By this expertise, the Bank wished to focus on its key activities, have only a variable cost impact commensurate with growth, while not affecting any quality, standards and diligence in lending
NHBS LLP was engaged based upon its deep domain knowledge and expertiseUnit inspection and audit of stock and book debts were conducted on a regular basis, along with reporting on borrowers’ statutory compliance, position of stock and book debts, insurance of assets and financial adequacy. Based on NHBS LLP reports, the Bank has effectively monitored borrower accounts, and has also identified opportunities for enhancing the facilities.
NHBS LLP also assists the Bank for calculating the Drawing Power (DP) of its borrowers. This includes responsibility for collection of required documents (Stock & Book Debts Statements), educating the borrowers for timely submission of statements in the desired manner and review of statements before calculation of DP.
NHBS LLP provides two layers of quality control to the Bank – at the local office and at its headquarters, where work is re-verified for complete accuracy.
Bank was able to focus on business matters and take effective decisions based on our report.
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