How to get a DSA code

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DSA Code of Conduct for the Direct Selling Agents (DSAs) is a non-statutory code

issued by the Indian Banks Association for adoption and implementation by DSAs while operating as Agents of Banks and Financial Institutions. DSA code is issued by a bank or the institution you are working with. Once the due diligence is performed and there are no problems, a DSA registration agreement form with stamp duty will be sent to you. Fill in the necessary information, sign the agreement, and submit it. The DSA code will then be provided to you. Once you receive the code you can start working

with a bank or NBFC. The Direct Selling Agents have been included as part of the agreement between the bank and DSA establishment. This code will apply to all the persons employed by DSA and who have been involved in the marketing and distribution of loan and other services of banks or NBFC. There are various steps to be completed in order to get a DSA Code.

Here are the ways to get your DSA code:

You have to visit the particular bank or NBFC and submit your application to the bank or NBFC.
You have to make the payments ifnecessary.
The bank or NBFC will contact you after the payment is done, and they may ask for a few documents too.
After you submit the required documents, the bank or NBFC will verify them, and the legal team will complete the due diligence process, and after all this, your credit history and CIBIL score will bechecked.
After the verification process and due diligence, a DSA registration agreement with the stamp duty will be delivered to you.
After this process you have to fill in some required details, and then sign the agreement, and submit it.
When all this process is completed finally the bank or NBFC will issue you a DSA
Once you receive a DSA code you will be legally eligible to work, you can start uploading and submitting loan applications and loan documents.

The goal of the DSA agents is to make sure to secure potential borrowers for the bank. After the process is completed the bank or NBFC will provide you with a DSA code.

Every DSA code is unique. Every individual will have a different DSA code. Once you receive the DSA code you can start working as an agent and start uploading and

submitting loan applications and documents. The goal of the DSA agents is to make sure to secure potential borrowers for the bank. The main source of income for DSA agents is commission based. The average commission is 0.60% to 1% depending on the amount of loan sanctioned. You must have essential and basic knowledge about finance and banking and your skills persuading people with quality efficiency and

interpersonal skills. You must have to make sure that the assigned task is done in the most effective and efficient way. Your CIBIL score and credit score play a major role to get a DSA code.