Volume No. I Issue No. VII

Pudhuaaru KGFS                                                                            Vol. 1 Issue. VII

Pudhuaaru KGFS                                                                                  Vol. 1 Issue. VII

Pudhuaaru KGFS                                                                  Vol. 1 Issue. VII

Pudhuaaru KGFS                                                                         Vol. 1 Issue. VII

Pudhuaaru KGFS                                                                            Vol. 1 Issue. VII

Pudhuaaru KGFS                                                                                  Vol. 1 Issue. VII

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Pudhuaaru KGFS Newsletter Issue VII

  1. 1. Volume No. I Issue No. VII PUDHUAARU KGFS Newsletter
  2. 2. Pudhuaaru KGFS Vol. 1 Issue. VII OUR MISSION “To maximize the financial well being of every individual and every enterprise by providing complete financial services in remote rural Thanjavur and Thiruvarur” First case of personal accident claim at Alakudi One of our Alakudi branch customers, The branch was informed of her death on Smt.V.Umarani aged 33, a daily wage labourer met 29.09.09. The duly filled in claim form and a copy with an accident on 24th of Sept. The fire accident of FIR were submitted on Monday(12.10.09). A occurred on the evening of 24th September delay in the submission of post-mortem report de- around 08.30 pm while she was cooking. Accord- railed the timeliness, albeit slightly. The claim was ing to initial reports, she was using a kerosene adjudicated on 17.11.09 and the cheque was stove and a leakage occurred while filling in received on 3.12.09 kerosene, leading to a fire outburst. She was immediately rushed to the Government hospital in This is a clear case where a higher sum insured Thanjavur and she underwent treatment for two could make a bigger impact to the household days. The treatment was not successful and was especially considering the fact that a steady source declared dead on the evening of 26th September. of income brought in by Smt.V.Umarani is now no more. A better sum would have ensured for better She is survived by her husband, Sri.Veemaraj, who future plans of the five little children. is a daily wage labourer and 5 female children (all minor). Veemaraj was the nominee for Umarani’s Personal Accident Insurance (Sum Assured Rs.25000). WM Script Implementation The idea was that they would precisely learn how to converse with the villagers in order to know the cash flow of the house- hold, assets & liabilities, the risks the house- holds may face and the savings opportuni- ties. The conversation will help the WMs to suggest/prescribe appropriate financial products from our suite in order to maxi- mize the financial well being of every house- hold in tune with our mission. The WMs did an excellent job and WM's from 6 branches have been trained on the usage of standard script. Pudhuaaru CEO Gurunath has now taken up the task of In order to understand and have clarity on the ramping up this across all branches including financial position of household, 4 WMs of better understanding of all aspects of Wealth Pudhuaaru KGFS (Ramalingam, Rajasekar, Management. He along with Bharathi of training Rajkumar and Govindaraj) were provided with a team conducted training for 32 Wealth Managers standard script. on 14th November 2009. Pudhuaaru KGFS, II Floor, No.66/2999, No.1, Trichy Main Road, Thanjavur, Tamil Nadu-613 007
  3. 3. Pudhuaaru KGFS Vol. 1 Issue. VII Induction training at PKGFS and the new standard script for WMs At PKGFS this year 4 batches of Induction Training Also we extend loans for income generating activ- have been conducted for the newly recruited ity as well for paying off high cost debts. In all WMs. We have been adding value by including these the WMs convey the message that the sessions like ‘A day in the life of a WM’ wherein a surplus the villagers get out of income generating WM from a branch is called to narrate what all he activity or by paying off high cost loans can be does and what all happens in the branch & in the invested in our savings scheme (MMMF). The service area. The session after ‘Branch Attach- WMs also intimate the villagers the details of our ment’ is very lively as the WMs get to see what is enrollment process and how easy it is & simple. actually happening at the branch after they learn The WMs intimate the villagers that in tune with about products and processes in the theory ses- our mission we shall ensure that every household sions. Also the 3 case studies we are discussing is enrolled in Pudhuaaru KGFS. The WMs are during the training is to give a clear insight into trained to show immense patience and commit- cash flow and understanding the impact of our ment during the entire conversation to demon- products in improving the financial well being of strate to the villagers that we are here to achieve the household. our mission and we will take all necessary steps in this direction. The WMs give feedbacks on the We have recently piloted the standard script at positives as well as concerns raised by the two branches involving 3 Wealth Managers villagers. (Ramalingam, Govindaraj and Rajasekar) who have been in the system for over an year. The IFMR This standard script is discussed in the training ses- Rural Finance Training team handheld them for 2 sions as well. We have been intimating the WMs weeks in order to have a proper flow of conversa- that they are in fact ‘financial doctors’ prescribing tion with the villagers The standard script which is appropriate products to each household and for mission aligned, is drafted in such a way to essen- this it is essential to capture household informa- tially make the WMs understand that our dialogue tion in Customer Management System (CMS) as with the villagers should reflect our concern for correctly as possible. The importance of CMS is the financial well being. The WMs start off with clearly explained to the trainees. Going forward introducing PKGFS and a brief introduction as to using tools like FELIH (Financial Engineering for how Pudhuaaru KGFS has progressed. Thereafter Low Income Household) , Wealth Index and Safety we seek permission from the villager for asking a Index, we are planning to empower the WMs to few questions. prescribe appropriate Financial Products to each household. These are related to the family size, activity, asset, liability, income expenditure and based on the in- formation they get, the WMs make them under- stand why every family needs a safety net (Insurance : be it Personal Accident or Cattle) and also how small savings of say Rs 20 per day or Rs 100 per week grows to a large sum. The WMs inti- mate the villagers that PKGFS accepts investments of small amounts under our MMMF. The WMs drive home the point that savings are essential to meet the dreams and aspirations of the family, be it Education of children, Marriage of children, Renovating a house or building a corpus which will give a return during the period when they cannot PKGFS Wealth managers, who are implementing Wealth pursue any income generating activity Managers Standard Script across the branches of PKGFS. Pudhuaaru KGFS, II Floor, No.66/2999, No.1, Trichy Main Road, Thanjavur, Tamil Nadu-613 007
  4. 4. Pudhuaaru KGFS Vol. 1 Issue. VII WMs practicing the new standard script on field Pudhuaaru KGFS, II Floor, No.66/2999, No.1, Trichy Main Road, Thanjavur, Tamil Nadu-613 007
  5. 5. Pudhuaaru KGFS Vol. 1 Issue. VII PKGFS @ a glance Snapshots of the numbers for the months of Nov & Dec 2009 will be released in January 2010 PKGFS in October ‘09 Product Wise Disbursements (in lakhs)  Total Enrollments as on 31st Oct 2009: 22,421 Products Amount  Total Enrollments In October 2009: 2,876 JLG Loan 380.60  High Enrollments in Branches Jewel Loan 133.37  Paruthiyappar Kovil: 362 Retailer Loan 1.60  Umayalpuram: 263 Individual Loan  Varagur: 219 Livestock Insurance Loan 0.02  Total no. of PAI policies issued: 1,884 Premises Loan  Total no. of MMMF New Customers: 1,844 School Loan  MMMF Investments sum total (Rs): 11,42,425 Grand Total 515.59 Snapshots - New Branches Total number of branches: 34 Number of branches opened in the last 5 months: 19 Pudhuaaru KGFS, II Floor, No.66/2999, No.1, Trichy Main Road, Thanjavur, Tamil Nadu-613 007
  6. 6. Pudhuaaru KGFS Vol. 1 Issue. VII Pudhuaaru KGFS - Getting ready for expansion and there was no dull moment in the training. After the icebreaker session, by means of a game the participants were taught the power of repetition, planning, and how teams should work. This was followed by an exercise where partici- pants understood that there can be no problem/ issue which is beyond their control. The teams then understood the concept of group dynamics. The day then saw concepts of leadership, how to provide feedback, how to resolve issues Pudhuaaru has planned to scale up their and covered in detail how to coach/mentor. operations by opening 36 additional branches in 2009-10 (from 34 existing to 70). This expansion requires the leadership team adequately trained on Team Building, Mentoring and problem solving abilities. To meet this challenge, for the first time, a training program was organized for a select set of PKGFS employees on the 24th and 25th of July using the services of an external certified trainer. The training was delivered by Mr. Stephen in Tamil (Of Abba Career Guidance & Counsel- All the above were intertwined with exercises and ling) who is one of the four Certified Trainers in group activities, which made the training very ab- India for Louis Allen International, U.S.A. a reputed sorbing & exciting. All the participants said that Training and Development Organization. The they were immensely benefitted and suggested training focused on leadership, feedback, problem that similar program be organized for the larger solving abilities and team building which will result group and cover WMs as well. The training in improving organisational efficiency. The COO, session concluded with Chandrachudan and RM, ARMs, IT manager, HR manager, Training Gurunath talking to the participants and stressing manager and some identified WMs participated in the importance of ensuring that the takeaways are the two day program. Participants were taken implemented in their daily routine, which every- through each of the important concepts using one wholeheartedly assured. All the participants games and this kept the participants engrossed were issued with the training material in Tamil. Pudhuaaru KGFS, II Floor, No.66/2999, No.1, Trichy Main Road, Thanjavur, Tamil Nadu-613 007
  7. 7. Pudhuaaru KGFS Vol. 1 Issue. VII Employee’s Corner @ PKGFS From this edition, we are introducing another new series called “Employee’s Corner @ PKGFS”. The focus of the series will be on the employees of Pudhuaaru KGFS and bring to light their commendable work and their journey with PKGFS. It will also throw light on the employee oriented programs conducted at PKGFS. Over the last 3-4 months, the training team at The third case touched upon the cash flows in PKGFS have conducted competitions on operations and how to manage it. It also explains submission of case studies for 3 batches of WMs the necessity to look into the income and expendi- as a part of the induction process. One conducted ture and also the assets and liabilities and thereby in the first week and two conducted in the third judging the capacity to repay the loan obtained. week. Besides this, a competition was conducted The end result of the case studies were to come for the existing WMs on the similar lines as well. up with a suitable product that would satisfy the customer, given his requirements. The first case was aimed at understanding the rural household and was helpful in enabling the WINNERS (In order of merit) WMs to understand the method and the necessity of collecting information. The WMs were able to Among the existing WMs: understand and appreciate the importance of Ramalingam, Jothimani and Shanti K assets / liabilities / income / expenditure etc. The objective of the second case was to introduce the As a part of Induction: WMs to risk and also understand from them, the Batch II: Manokaran M, Karthik C consequences that can arise given the situation in Batch III: Prema G, Anbumani R hand or any likely unforeseen happenings. Batch IV: Valarmathi M, MappilaiMydeen M AMFI Certification Six of our employees, Pandian (RM), Prasanna, Mohamed Asik, Naresh Kumar, Vinoth Kumar (all ARMs) and Mohamed Ansaree (WM) have successfully cleared the AMFI Certification exam conducted on 22nd November 2009. Congratulations to them in achieving this feat. They are only the second set to have come out in flying colors after Jagadeesan and Abirami. To access the photographs taken within the Ecosystem, Follow IFMR @ Flickr: http://www.flickr.com/groups/ifmr To know about the latest happenings at PKGFS on an up to date basis, Follow PKGFS @ Facebook: We love to hear from you ... Write to us at http://www.facebook.com/group.php? gid=90982374640 pkgfsnewsletter@pudhuaarukgfs.co.in Pudhuaaru KGFS, II Floor, No.66/2999, No.1, Trichy Main Road, Thanjavur, Tamil Nadu-613 007