Part 11 — Reference
Metrics Cheatsheet
This table consolidates formulas and metric definitions used in Parts 01-10. Where a metric is policy-configured rather than universal, the formula records the operating convention used in the docs.
| Metric | Formula / definition | Used in |
|---|---|---|
| Yield | Interest income plus recurring fee income, annualized on average assets or outstanding portfolio. | Unit economics |
| Cost of funds | Interest and borrowing cost divided by average borrowings or loan assets funded. | Unit economics, Pricing & ALM |
| Net interest margin (NIM) | Yield on assets - cost of funds, usually on average earning assets. | Unit economics |
| Operating expense ratio | Operating expense / average loan assets or disbursement base, depending reporting convention. | Unit economics |
| Credit cost | Annualized write-offs + provision movement - recoveries, divided by average loan assets. | Unit economics, Provisioning & P&L impact |
| Pre-tax RoA | Pre-tax profit / average assets. | Unit economics |
| RoA | Profit after tax / average assets. | Unit economics |
| RoE | Profit after tax / average equity. | Unit economics |
| Contribution spread | Customer yield + fees - cost of funds - expected credit cost - direct acquisition/servicing cost. | Unit economics, Pricing & ALM |
| APR | Annualized all-in cost to borrower including interest and covered charges as disclosed in KFS. | Conduct rules, Pricing & ALM |
| Blended co-lending rate | Sum of each lender’s share x that lender’s internal rate. Example: 80% x 13.5% + 20% x 22% = 15.2%. | Co-lending business |
| DLG cap | Maximum DLG cover is no more than 5% of disbursed amount of the fixed DLG portfolio. | Digital lending directions, Colending partner module |
| Co-lending minimum skin | Each participating RE must retain at least 10% share of each loan under the 2025 framework. | Co-lending directions |
| Partner share booking age | Calendar days between originator disbursement and partner share reflection; maximum 15 calendar days under cited co-lending rules. | Disbursement, Colending partner module |
| MSME investment threshold | Investment in plant/machinery/equipment must not exceed class threshold: micro ₹2.5 crore, small ₹25 crore, medium ₹125 crore. | MSME definition |
| MSME turnover threshold | Turnover must not exceed class threshold: micro ₹10 crore, small ₹100 crore, medium ₹500 crore. | MSME definition |
| Lead-to-login rate | Logged-in applications / qualified leads. | Lifecycle overview, Sourcing leads |
| Login-to-sanction rate | Sanctioned applications / logged-in applications. | Lifecycle overview |
| Sanction-to-disbursement rate | Disbursed loans / sanctioned loans. | Lifecycle overview, Disbursement |
| Pull-through rate | Disbursed loans / approved or offered applications. | Underwriting decisioning |
| STP rate | Applications completed without manual intervention / eligible applications. | Lifecycle overview |
| Bureau-hit rate | Successful bureau matches / bureau pulls or consented applicants. | Lifecycle overview, Pre-screening |
| Dedupe-hit rate | Dedupe matches / screened leads or applications. | Pre-screening |
| Policy-refer rate | Cases referred rather than passed or rejected / pre-screened cases. | Pre-screening |
| Approval rate | Approved applications / decisioned applications. | Underwriting decisioning |
| Reject reason mix | Rejects by reason code / total rejects. | Underwriting decisioning |
| Deviation rate | Cases with at least one policy deviation / decisioned cases. | Underwriting decisioning |
| Deviation approval rate | Approved deviations / submitted deviations. | Underwriting decisioning |
| CAM rework rate | CAMs returned for rework / CAMs submitted. | Underwriting decisioning |
| Decision TAT | Time from complete data pack or credit queue assignment to credit decision. | Underwriting decisioning |
| Model override rate | Human or policy overrides / model-recommended decisions. | Underwriting decisioning |
| First-payment default | Loans missing first scheduled repayment / newly disbursed loans in cohort. | Underwriting decisioning |
| Vintage bad rate | Loans in a cohort reaching defined bad bucket, often 30+ or 90+ DPD, by months-on-books. | Portfolio analytics |
| DPD | Number of days the oldest unpaid due remains overdue after its due date. | Delinquency fundamentals |
| SMA-0 | Principal or interest overdue up to 30 days. | IRAC provisioning |
| SMA-1 | Principal or interest overdue more than 30 and up to 60 days. | IRAC provisioning |
| SMA-2 | Principal or interest overdue more than 60 and up to 90 days. | IRAC provisioning |
| NPA trigger | More than 90 DPD for ordinary term-loan overdue, subject to product/entity-specific IRAC rules. | IRAC provisioning, Delinquency fundamentals |
| Cure rate | Accounts returning to current / opening delinquent accounts in bucket. | Delinquency fundamentals |
| Roll rate | Accounts or amount moving from one delinquency bucket to a worse bucket / opening bucket population or amount. | Portfolio analytics |
| Flow rate | Same family as roll rate; exposure flowing from one bucket to another over a period / opening exposure in source bucket. | Portfolio analytics |
| Stabilisation | Cohort period after which early volatility reduces and vintage performance becomes more predictive. | Delinquency fundamentals |
| Bounce rate | Failed repayment presentations / total repayment presentations. | Portfolio analytics |
| First EMI bounce rate | First scheduled EMI bounces / loans with first EMI presented. | Lifecycle overview |
| Collection efficiency | Amount collected during period / amount due or demand raised for the period. | Portfolio analytics |
| Current collection efficiency | Current-cycle collections / current-cycle demand. | Portfolio analytics |
| Overdue collection efficiency | Overdue collections / opening overdue demand. | Portfolio analytics |
| Net collection efficiency | Collections net of reversals/bounces / demand. | Portfolio analytics |
| GNPA ratio | Gross NPA amount / gross advances. | Provisioning & P&L impact |
| NNPA ratio | Net NPA amount after provisions / net advances. | Provisioning & P&L impact |
| Provision coverage ratio | Provisions held / gross NPA amount. | Provisioning & P&L impact |
| Provision movement | Closing provision - opening provision, adjusted for write-offs/recoveries as finance policy defines. | Provisioning & P&L impact |
| Income reversal | Accrued income reversed or moved to realization basis when account becomes NPA. | Provisioning & P&L impact |
| ECL | Probability-weighted expected credit loss under Ind AS 109, usually PD x LGD x EAD with staging and forward-looking overlays. | Scorecards & models |
| PD | Probability of default over the relevant horizon. | Scorecards & models |
| LGD | Loss given default = unrecovered exposure after collateral, recoveries and costs / exposure at default. | Scorecards & models |
| EAD | Exposure at default, the outstanding or expected outstanding when default occurs. | Scorecards & models |
| Expected loss in pricing | PD x LGD x EAD, converted into a rate or rupee load for pricing. | Pricing & ALM |
| Scorecard points | Weighted sum of characteristic scores or model coefficients mapped to risk bands. | Scorecards & models |
| CMR band | Commercial risk rank band, with CMR-1 strongest and CMR-10 weakest in the cited CIBIL product. | Bureau report anatomy |
| FOIR | (Existing fixed obligations + proposed EMI) / assessed monthly income or surplus. | Underwriting decisioning, Cash-flow assessment |
| DSCR | Cash available for debt service / total debt service due for the period. | Underwriting decisioning, LAP secured |
| LTV | Loan amount / accepted collateral value. | LAP secured, Collateral, valuation & legal |
| Distress-value LTV | Loan amount / distress-sale value of collateral. | LAP secured |
| Current ratio | Current assets / current liabilities. | SME financial analysis, Working capital |
| Debt-equity ratio | Total debt / tangible net worth or equity, depending policy. | SME financial analysis |
| Gross margin | Sales - cost of goods sold, divided by sales when expressed as a percentage. | SME financial analysis |
| Net margin | Profit after operating costs, interest, tax and adjustments / sales. | SME financial analysis |
| Banking turnover | Sum of eligible business credits in bank statements over the assessment period. | Bank statement analysis |
| ABB | Average of daily or month-end bank balances over the policy lookback period. | Bank statement analysis |
| EMI buffer | Average balance or surplus / upcoming EMI; exact threshold is policy-defined. | Bank statement analysis |
| Inflow quality | Stable business inflows net of reversals, circular transfers, related-party funds and one-offs / total inflows. | Bank statement analysis |
| Cash deposit ratio | Cash deposits / total credits. | Bank statement analysis |
| Circular transaction flag | Related debit-credit loop detected by counterparty, amount, timing or narration pattern. | Bank statement analysis |
| GST turnover variance | Banking turnover or declared sales compared with GST turnover; variance = observed difference / benchmark turnover. | Cash-flow assessment |
| GST-surrogate income | Policy factor x verified GST turnover, adjusted for margin, seasonality and obligations. | Cash-flow assessment |
| Banking-surrogate income | Policy factor x stable eligible banking credits, adjusted for business type and obligations. | Cash-flow assessment |
| Assessed income | Underwriter-adjusted sustainable income after reconciling ITR, GST, banking, margins and add-backs. | Cash-flow assessment |
| Merchant cash advance repayment share | Agreed percentage of daily/settlement receipts swept toward repayment. | Unsecured business loans |
| Factor rate | Total repayment / advance amount, often used in merchant cash advance language; APR must still be disclosed where applicable. | Embedded lending |
| TReDS discount | Invoice amount x discount rate x days to maturity / 365. Example: ₹25,00,000 x 8.9% x 75 / 365. | Invoice & supply-chain finance |
| Turnover/Nayak working-capital requirement | 25% of projected annual turnover for eligible MSE working-capital assessment in cited UCB framework. | Working capital |
| Borrower margin under turnover method | 5% of projected annual turnover; bank finance is minimum 20% of projected annual turnover. | Working capital |
| MPBF | Projected current assets - projected current liabilities excluding bank borrowings - required borrower margin. | Working capital |
| Borrower margin under MPBF example | 25% of current assets in the example table. | Working capital |
| Drawing power (DP) | Eligible stock after margin + eligible receivables after margin - unpaid creditors/overdues - deductions. | Working capital |
| Stock-statement overdue rate | Overdue stock statements / statements due. | Monitoring & EWS |
| Drawing-power exception rate | Accounts with DP breach or stale DP / monitored working-capital accounts. | Monitoring & EWS |
| EWS-to-delinquency hit rate | Accounts flagged by EWS that later become delinquent / accounts flagged by EWS. | Monitoring & EWS |
| Watchlist cure rate | Watchlisted accounts returning to normal status / watchlisted accounts. | Monitoring & EWS |
| Covenant breach ageing | Days since covenant breach was due, detected or remained unresolved. | Monitoring & EWS |
| Collateral revaluation variance | New valuation - previous valuation, divided by previous valuation. | Monitoring & EWS |
| RCU-negative rate | RCU-negative cases / cases reviewed by RCU. | Lifecycle overview, Due diligence |
| FI-negative rate | FI-negative cases / field investigations completed. | Lifecycle overview, Due diligence |
| Legal-title rejection rate | Title-rejected collateral files / legal files reviewed. | Lifecycle overview |
| Document pendency age | Current date/time - document request date/time for pending items. | Application documents |
| Mandate success rate | Mandates approved / mandates initiated. | Disbursement |
| Disbursement failure rate | Failed disbursement attempts / attempted disbursements. | Disbursement |
| Reconciliation break rate | Unmatched or disputed ledger/escrow/partner items / total items or value. | Colending partner module |
| Escrow ageing | Days or value of unresolved escrow movements since transaction date. | Colending partner module |
| DLG utilisation | Invoked or blocked DLG amount / DLG cap amount. | Colending partner module |
| OTS recovery rate | Settlement cash realized / contractual dues or approved settlement amount, depending context. | Settlements & OTS |
| Settlement haircut | Waived amount / contractual dues. | Settlements & OTS |
| Net present value of settlement | Present value of expected settlement cash flows compared with expected legal/recovery path. | Settlements & OTS |
| Auction recovery ratio | Net sale proceeds / outstanding dues or forced-sale value. | Repossession & asset sale |
| Write-off recovery rate | Recoveries after write-off / written-off amount. | Repossession & asset sale |
| Agency productivity | Amount collected, visits completed or cures achieved per collector/agency, adjusted for bucket and allocation. | Collections operations |
| PTP kept rate | Promises paid as agreed / promises due. | Collections operations |
| Contact rate | Successful borrower contacts / contact attempts or allocated accounts. | Collections operations |
| Complaint rate | Complaints / active accounts, contacts or disbursements depending control dashboard. | Collections compliance |
| TAT/SLA breach rate | Tasks breaching defined SLA / tasks due or completed. | Workflow specs |
| Availability target | Required uptime or recovery objective for a module; expressed as percentage or RTO/RPO target. | Nonfunctionals & regulatory constraints |
| RTO | Recovery time objective: maximum acceptable time to restore service. | Nonfunctionals & regulatory constraints |
| RPO | Recovery point objective: maximum acceptable data loss window. | Nonfunctionals & regulatory constraints |