The M.Com Department organized a Guest Lecture for Part-I students on 27th August 2019. The Resource Person was Mr. Ashwath Majalikar, Asst. Manager (Operations), Muthoot Finance. 24 students attended the session. The main objective of the Guest Lecture was to provide the students with a practical viewpoint about Financial Services with an emphasis on Non Banking Finance Companies (NBFCs).
Mr. Ashwath Majalikar began the session by pointing out the most important differences between banks and Non-Banking Finance Companies, viz. NBFCs cannot accept demand deposits, they do not form part of the payment and settlement system, they cannot issue cheques drawn on themselves and the Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs.
Mr. Majalikar gave an overview about gold loans and the ease of taking a gold loan. The basic features of gold loans are easy and fast processing – it takes an average of 15 minutes to process a gold loan at Muthoot Finance, not much documentation needed and they are secured loans.
In order to approve a gold loan, the gold has to be first tested. The tests performed are acid and salt test, sound test and smell test
The session ended with the vote of thanks by Ms. Renia Dias, student of M.Com Part I.
