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Posted on Friday February 28th, 2020

The role of DSA is somewhere same in all financial institutions but when you Apply For a DSA Role for a particular lending institution, you have to go through a specific DSA Agreement which contains all the rules and regulations applicable.The loan direct selling agents are the one who connects an interested customer to the lender, take care of the required documentation for loan application forms, do fundamental check and ensure that the submitted papers are in accordance with the guidelines of the lending institution. In this article, we will discuss about what is the role of DSA in loan processing and disbursal.

1. Applicability
The code of conduct for DSA will be applicable to all the person employed by DSA who would be involved in marketing and distributions of the financial products of banks and NBFCs. In case of any failure to adhere with this requirement may result in permanent termination of the business tie-up of the DSA with lending institution.

2. Tele-calling a prospective customer
A prospect has expressed his/her desire to take a product via lending website/branch or has been referred by another client or through the Relationship manager, or is an existing customer of the bank who has given acceptance for receiving calls for the other services of the bank or NBFCs.

3. Keep the borrower’s interest secret
The borrower’s privacy should be the first priority of DSA. If the borrower has authorized any other individual/spouse/accountant/family member can be contacted.

4. Messages and contacting the customer
DSA should call the borrower only. However the customer is not available, a message may be drafted for him/her. The main objective of the message should be to get the customer to call back or to check for a convenient time to call again.

5. No misrepresentations permitted
The DSA will not misguide the interesting customer on any offered service/product or about the bank and NBFCs and can’t make any fake promises on behalf of the bank and any lending institution.

6. Calling Etiquettes
1. Do not make before or after office hours.
2. No calls if you identify the do not disturb numbers.

During call
1. DSA should introduce himself/herself.
2. Seek a permission to proceed and don’t force if denied.
3. Talk in the language that is most comfortable to the customer.

If the client plans to buy the financial product:
1. Confirm the next call and visit details.
2. Provide your contact number if asked by the customer.
3. Thank the customer for giving his/her valuable time.

7. Do not accept any gifts or bribe
DSA must not accept any kind of bribe or gifts offered by the customer. She/he must inform about this to the management.

8. Few precautions to take
DSA should:

Respect the privacy of client.
Do not enter the client’s office/residence without his/her permission.
Take care of customer’s requirements.
Maintain professional relationship.

9. Handling the letters and communication
DSA should follow the prescribed format assigned by the lending institution.”