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Agency for Specialised Monitoring

We are Empanelled with Indian Banks’s Association as Agencies for Specialised Monitoring.

Public sector banks (PSBs) have made significant progress with respect to improvement of credit underwriting and monitoring process in the PSB Reforms EASE Agenda. Ease of Access Service Excellence (EASE) was launched to encompass a synergistic approach to ensure prudential and clean lending, better customer service, enhanced credit availability and better governance.

As per RBI guidelines (RBI Circular DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019), Banks and financial institutions are mandated to engage Agencies for Specialized Monitoring (ASM) for large credit exposures. Accordingly, Department of Financial Services, Government of India, indicated several action points, one of which is Tie up with Agencies for Specialized Monitoring (ASM) for clean and effective post sanction monitoring and follow up on Common engagement basis in case of consortium lending, having large credit exposure (above ? 250 crore) and exposure of a specialized nature. In October 2018, Indian Bank’s Association (IBA) has released a framework for the appointment of ASMs qualified for monitor the technical, financial and legal aspects of project loans above ? 250 crore.

ASM audit involves complete credit assessment of the borrower including assessment of his ability to repay the loan. It also involves monitoring the financial operations of the borrower to track or identify any diversion/misuse of the borrowed fund. The Scope of work shall include:

Concurrent Review and Monitoring Procedures (for Working Capital)
Concurrent Review and Project Monitoring Procedures (for Term Loan); preferably deployed in when there is delay in implementation – ASMs for large accounts should be engaged in order to ensure proper monitoring of project implementation as per schedule and utilization of funds.
Concurrent cash monitoring which includes the following:
Cash Inflow Monitoring
Cash Outflow Monitoring
Fund Flow Analysis
Non-Cash Parameters

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