{"id":28180,"date":"2010-12-11T13:54:24","date_gmt":"2010-12-11T13:54:24","guid":{"rendered":"http:\/\/beta.tehelka.com\/?p=28180"},"modified":"2010-12-11T13:54:24","modified_gmt":"2010-12-11T13:54:24","slug":"meet-the-new-age-loan-arranger","status":"publish","type":"post","link":"https:\/\/tehelka.com\/meet-the-new-age-loan-arranger\/","title":{"rendered":"Meet the new age loan arranger"},"content":{"rendered":"<p><strong><em>Abhishek Anand<\/em><\/strong><em>\u00a0<\/em><em>tracks down those who can crack the code using a mix of networking and bribes<\/em><br \/>\n<figure id=\"attachment_28184\" aria-describedby=\"caption-attachment-28184\" style=\"width: 250px\" class=\"wp-caption alignright\"><a href=\"http:\/\/www.tehelka.com\/wp-content\/uploads\/2012\/08\/meet.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-28184\" title=\"Anyone trusting the loan arranger may find himself in deep trouble\" src=\"http:\/\/www.tehelka.com\/wp-content\/uploads\/2012\/08\/meet.jpg\" alt=\"Anyone trusting the loan arranger may find himself in deep trouble\" width=\"250\" height=\"177\" \/><\/a><figcaption id=\"caption-attachment-28184\" class=\"wp-caption-text\">Anyone trusting the loan arranger may find himself in deep trouble<br \/>Illustration: Naorem Ashish<\/figcaption><\/figure><br \/>\n<strong>THEY ARE<\/strong>\u00a0suave, glib talkers, well educated and, more importantly, well networked. That\u2019s the typical profile of the \u2018loan arranger\u2019 who helps corporates get huge loans even if they do not qualify or do not have the credit worthiness. They do their job to perfection in connivance with bank staff, who in turn help them by either manipulating or skirting the rulebook.<br \/>\n\u201cBig-ticket customers usually outsource their loan requirement through a loan arranger. But the prescribed route is not adhered to because some tweaking is required for every loan that is extended to new or existing customers,\u201d says a banker on condition of anonymity.<br \/>\nOn how the system is bypassed, he reveals, \u201cThe rules of loan disbursal are always set and differ from bank to bank. This is where the loan arrangers step in. They have the right connections in the credit committee, which decides whether or not the loan would be disbursed.\u201d<br \/>\nThe arranger adds, \u201cOnce the committee is convinced, disbursal is just a matter of time.\u201d<br \/>\nBut is it that easy to pull the wool over the eyes of a credit committee? \u201cNot always. There are dirty fish in every pond. These are the people who, in connivance and for a predetermined commission, help the arranger,\u201d he says.<br \/>\nA brief chat with another such arranger throws light on the modus operandi. \u201cIn one case, I helped a banker fund his son\u2019s education abroad. I picked up a tab of nearly 20 lakh and since then there have been very few occasions where I have been denied a loan,\u201d reveals the arranger.<br \/>\nIn other cases, loan arrangers help corporates over invoice or under invoice projects or hike up the project cost and the difference is shared among what can be called \u201cbeneficiaries\u201d.<br \/>\nSo well-connected are the loan arrangers that there are instances where they oen arrange a bridge loan, generally taken for a short period ranging between a few weeks to a couple of years. They are meant for an interim period till the arrangers manage to find long-term finance.<br \/>\nThe loan arrangers are a shrewd lot. Generally, they have multiple bank accounts and transact mainly in cash. At times, they use bank accounts of their relatives or friends.<br \/>\nNeedless to say, anyone trusting the loan arranger may find themselves in deep trouble. If the investigating agency smells shadowy deals, the relative or friend who received dubious funds will stumble into the line of fire.<br \/>\n<strong>abhishek.anand@fw.tehelka.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abhishek Anand tracks down those who can crack the code using a mix of networking and bribes<\/p>\n","protected":false},"author":71,"featured_media":28216,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[56],"tags":[6578,4839,6594,6595,6596,6597,6063,6598],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/28180"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/71"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=28180"}],"version-history":[{"count":0,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/28180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=28180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=28180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=28180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}