A credit manager is primarily focused on obtaining money owed to their business, whether for a particular kind of service or specific product. If a person fails to pay what is due, the experts take legal action and may participate of the process to collect. Additionally, a credit manager is also a key player in negotiating payment options that could involve restructuring payment plans in order to allow them to be more manageable depending on the financial capacity. Credit managers are also accountable for monitoring specific accounts and keeping an watch on accounts which have been without payment for a long duration of. Credit managers may be assigned various responsibilities based upon the scale of business that they work for. A credit manager should also be capable of communicating clearly since a large portion of their work involves working with company leaders as well as independent clients and even the general public. Additionally, those who works in this field must maintain a thorough and well-organized financial records that can be utilized in legal proceedings as well as other phases in the process of collection.

In India, Credit growth in micro and small businesses continues to outperform, increasing by 33% from 8.9%, while credit to large businesses increased by 1.9%. As per RBI, the personal loans segment maintained its uptrend and grew by 16.4% in May 2022. Credit Sectoral Deployment Data states: that retail credit grew 16.4%; the credit to services sector grew 12.9%; the Agri portfolio saw 11.8% growth, and the industry sector witnessed 8.7% growth which clearly shows that the demand for Credit Managers is going to remain on the higher side. Credit demand has surged 60%, while commercial credit inquiries are also growing. While credit from private lenders has seen a 69% increase, the public sector banks have jumped 60%, surprisingly calling for more and more Credit Managers in the coming years.

How to Learn

A Credit Manager with 3-6 years of experience in India is responsible for:<ul><li> Analyzing financial data and creditworthiness of customers to determine credit limits.</li><li> Monitoring and evaluating customer accounts to ensure timely payments and minimize bad debt.</li><li> Resolving customer disputes and negotiating payment plans to ensure collections.</li><li> Developing and implementing credit policies and procedures to mitigate risk and improve cash flow.</li></ul>

Roles & Responsibilities

Average take home Salary for a Credit Manager in India is around C$13334 per year

Salary Breakup

A credit manager is primarily focused on obtaining money owed to their business, whether for a particular kind of service or specific product. If a person fails to pay what is due, the experts take legal action and may participate of the process to collect. Additionally, a credit manager is also a key player in negotiating payment options that could involve restructuring payment plans in order to allow them to be more manageable depending on the financial capacity. Credit managers are also accountable for monitoring specific accounts and keeping an watch on accounts which have been without payment for a long duration of. Credit managers may be assigned various responsibilities based upon the scale of business that they work for.

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Credit Manager

Salary Breakup

Skills That Affect Credit Manager Salaries

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