The government telecommunication employees co operative society ltd

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REPORT ON INSTITUTIONAL TRAINING AT THE GOVERNMENT
TELECOMMUNICATION EMPLOYEES CO - OPERATIVE
SOCIETY.LTD,
COIMBATORE
A Report submitted to the Degree of Bachelor of Commerce with Business Process Services,
PSG College of Arts & Science, (Autonomous) in partial fulfillment of the requirement for
the award of the degree of Bachelor of Commerce with Business Process Services of the
Bharathiar University, Coimbatore.
SUBMITTED BY
V. VIKNESH
(1XXXXXX2)
Under the Guidance of
DEPARTMENT OF COMMERCE WITH BUSINESS PROCESS
SERVICES
XXX COLLEGE OF ARTS & SCIENCE
An Autonomous College - Affiliated to XXXXXXXXXX University
Accredited with A Grade by NAAC (3rd Cycle)
College with Potential for Excellence
(Status awarded by the UGC)
Star College Status Awarded by DBT - MST
An ISO 9001: 2008 Certified Institution
JUNE 2016

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DECLARATION
I V. VIKNESH (1XXXXXXX2) hereby declare that the report of INSTITUTIONAL
TRAINING is an original record of the training undergone by me at
THE GOVERNMENT TELECOMMUNICATION EMPLOYEES' CO - OPERATIVE
SOCIETY, COIMBATORE 18 from 13.05.2016 to 10.06.2016 submitted to the
Department of Commerce with Business Process Services, XXX College of Arts and
Science, (Autonomous) in partial fulfillment of the requirements for the award of the
Degree of Bachelor of Commerce with Business Process Services of xxxxxxxxx
University, Coimbatore.
Student
Submitted on:
Guide Head of the Department
Viva voce conducted on:
Examiners: 1.
2.

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INDEX
Chapter No CONTENT Page no.
I INTRODUCTION 1 - 19
II ORGANIZATION PROFILE AND
CHART
20 - 28
III DEPARTMENTS (SECTIONS) AND
ITS FUNCTIONS
28 - 48
IV SUMMARY OF WORK DONE 49 - 52
V CONCLUSION 53, 54

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CHAPTER - I
INTRODUCTION : CO-OPERATIVE SOCIETY
A co-operative society is an autonomous association of persons united voluntarily to
meet their common economic, social and cultural needs and aspirations through a
jointly-owned and democratically-controlled enterprise. A co-operative society is
another means for forming a legal entity to conduct business besides forming a
company. It pools together human resources in the spirit of self and mutual help with
the object of providing services and support to members. In India credit co-op. sector
developed to help the peoples of low income group whom banks generally do not give
loans because of risk, they are taking loans from the financiers at high interest rates.
So society is the better option to help them. Society generally gives a wide range of
banking and financial services like Loans, F.D., R.D., Saving, Insurance etc.
Generally Co-operative Credit Society is formed by members, who are at the same
time the owners and the customers of their Society. The Co-operative Principles under
which a co-operative society operates and carries out its business are :-
1. Voluntary and open membership.
2. Democratic control, one member one vote.
3. Autonomy and independence.
4. Promoting economic activities.
5. Promoting education and information technology.
6. Co-operation among co-operatives.
7. Concern for the social and ecological environment.
The co-operative society is the only alternative to protect the weaker sections of the
society and to promote the economic interest of the people. In certain situations when
it is not possible to achieve the target by individual effort, collective effort in the form
of a co-operative society is preferred. Housing co-operatives, Marketing co-
operatives, etc., are formed to achieve the common economic objectives of the
members.

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ACTIVITIES OF A CREDIT SOCIETY:
Credit Co-op. Society in India has a big role to play in economical development of
Low class and middle class peoples. Generally these societies are resisted under
District registrar office of state with Registrar of co-op society.
Big Multi State Societies Once Registration process is completed; they appoint Agent
for collection of deposit. Some societies also start MLM System in Society for deposit
collection. All Big Multi State society like Aadarsh credit co-op, Sahara Credit
Society etc. appoints agents to collect the deposit.
All credit Society than starts Deposit schemes like Member, Saving Account,
Compulsory Saving, and Fix deposit (FD), Recurring Deposit (RD), Monthly
Recurring (MR), Daily Deposit (DD), Pension schemes etc. After collecting money
from depositors they start giving loans with name Housing Loan, Vehicle Loan, Gold
Loan, Festival Loan, General Loan, Consumer Loan, Agriculture Loan etc. and decide
the Loan EMI. These Societies give high return on deposits schemes and give loan at
reasonable rate of interest as they have low running cost and every year declare
Dividend for its members.
RBI and NABARD give heavy fund to all agriculture society to give loan for farmers
at very low rate of interest.

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Employees Society generally starts for Welfare of their employees. This is a
society registered for the staff of a company or a department of government. Examples
of Employee Societies are as under Teachers co-op Credit society
 State Electric Board Employee co-op Credit Society
 Telephone Department Employee Co-op. Society
 Government Department Staff co-op. Credit Society
 Postal Department Employees society
 Insurance Co. Employees welfare Co-op. Soc.
 Bank Staff Co-op Credit & consumer society
 District & Tahesil Panchayat Staff co-op. society
 State Transport Department Staff co-op. Society
 Industries Employees co-op. credit & consumer co-op. society
 University Staff co-op. Credit society
 Military Staff co-op Credit Society
 Police & SRP Employees co-op. Society

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Regulations of Co-operative society :
The operation of co-operative societies is subject to control so as to prevent fraud
and to ensure that every member enjoys equal rights and benefits (equity and equality)
in respect of the business of the society. There are restrictions on profit disposal and
rules to sustain corporate governance. When a co-operative society is dissolved, the
remaining surpluses shall be disposed by the Registrar at his discretion for any
co-operative purpose. The Co-operative Societies Ordinance, Cap 33 enshrines the
Co-operative Principles and the Director of Agriculture, Fisheries and Conservation is
appointed as the Registrar to register and regulate co-operative societies. Other than a
registered co-operative society, or unless approved by the Chief Executive, no one
shall trade or carry on business under any name or title of which the word '
co-operative' is part.
Difference between co-operative society and a business enterprises
Co-operatives are enterprises that put people at the center of their business, not
capital. Co-operatives are business enterprises and thus can be defined in terms of
three basic interests: ownership, control, and beneficiary. Only in the co-operative
enterprise are all three interests vested directly in the hands of the user. Co-operatives
are also enterprises that follow a set of principles and values.
Co-operatives put people at the heart of all their business. They follow a set of values
than those associated purely with making a profit. Because co-operatives are owned
and democratically-controlled by their members (individuals or groups and even
capital enterprises) the decisions taken by co-operatives balance the need for
profitability with the needs of their members and the wider interests of the
community.

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OBJECTIVE AND WORKING OF SOCIETY:
 Vision of Society:
Vision of Society is social and economic betterment of its members. As well as
secure interests and objects of the society and member both. It is also seen as Mediator
between two persons, one person having excess money keep deposit in society as
F.D., R.D. etc. and other one is the people who need money for something as a loan.
 Development of Society:
In India Co-op. sector is developed. In Western India. Gujarat & Maharashtra are
the states where co-op. movement is very good following the real aim of co-operation
to the members. In other state development is slow.
 About Co-Operative:
Co-operatives are social enterprises formed by the members, for the members, of
the member. In fact, the Co-operatives can be found in all traditional economic
sectors, including agriculture, fisheries, consumer and financial services, housing, and
production (workers' co-operatives).
 Ownership of Credit Society:
Cooperatives are owned and democratically controlled by their members; Co-op
members elect their board of directors from within the membership.
 Social Impact of Credit Co-Op. Society:
Are motivated not by profit, but by service-to meet their member's needs or
affordable and high quality goods or services.
 Profit of Society – Dividends:
Society gives dividends on the share to the members depend on the profit.

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LIST OF BIG MULTI STATE CO-OPERATIVE SOCIETY IN INDIA:
There are so many big Multi state societies in India out of them some societies for
your reference are
 Sahara Credit Society
 Aadarsh Credit Society
 Kheteshwer Credit co-op. Society
 Lokhit Bharti Credit Co-op. society
 Arogya Dhan Varsha Credit Society
 Navjivan co-op soc.
 Sanjivani Credit Society
 Arth Multi state credit society
 Prithvi Credit co-operative Society
 Peers co-operative Society; and so many societies are working in India,
Generally all these societies have their network in many states.

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HISTORY OF CREDIT CO-OP SOCIETY IN INDIA:
THE ROCHDALE PIONEERS:
Co-operatives started out as small grass roots organizations in Western Europe, North
America and Japan in the middle of the last century; however, it is the Rochdale
Pioneers that is regarded as the prototype of the modern co-operative society and the
founders of the Co-operative Movement.
In 1844 a group of 28 artisans working in the cotton mills in the town of Rochdale, in
the north of England established the first modern co-operative business, the Rochdale
Equitable Pioneers Society (photo). The weavers faced miserable working conditions
and low wages, and they could not afford the high prices of food and household
goods. They decided that by pooling their scarce resources and working together they
could access basic goods at a lower price. Initially, there were only four items for sale:
flour, oatmeal, sugar and butter. The Pioneers decided it was time shoppers were
treated with honesty, openness and respect, that they should be able to share in the
profits that their custom contributed to and that they should have a democracy.
ADVANTAGES:
a) Unlike other retailers, cooperative stores supply quality goods. Consumers are
thus saved from adulteration and other malpractices.
b) As consumers are the owners and managers of such stores, genuine
requirements of the majority of consumers can be met. In other words, goods
required by a majority of the customers are always dealt by such stores.
c) Cooperative societies are an important form of democratic business enterprise
because of its diffused ownership. As a result, no single group can secure
control over the organization.

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I. EASY FORMATION:
Formation of a co-operative society is very easy compared to a joint stock company.
Any ten adults can voluntarily form an association and get it registered with the
Registrar of Co-operative Societies.
II. OPEN MEMBERSHIP:
Persons having common interest can form a co-operative society. Any competent
person can become a member at any time he/she likes and can leave the society at
will.
III. DEMOCRATIC CONTROL:
A co-operative society is controlled in a democratic manner. The members cast their
vote to elect their representatives to form a committee that looks after the day-to-day
administration. This committee is accountable to all the members of the society.
IV. LIMITED LIABILITY:
The liability of members of a co-operative society is limited to the extent of capital
contributed by them. Unlike sole proprietors and partners the personal properties of
members of the co-operative societies are free from any kind of risk because of
business liabilities.
V. ELIMINATION OF MIDDLEMEN’S PROFIT:
Through co-operatives the members or consumers control their own supplies and thus,
middlemen’s profit is eliminated.

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VI. STATE ASSISTANCE:
Both Central and State governments provide all kinds of help to the societies. Such
help may be provided in the form of capital contribution, loans at low rates of interest,
exemption in tax, subsidies in repayment of loans, etc.
VII. STABLE LIFE:
A co-operative society has a fairly stable life and it continues to exist for a long period
of time. Its existence is not affected by the death, insolvency, lunacy or resignation of
any of its members.
DISADVANTAGES:
a) It caters to the needs of small and medium-income groups.
b) There is too much dependence on the honesty, integrity and loyalty of members
and workers.
c) There is lack of proper sales promotion drives by the sales force of these stores.
d) Management of such stores usually rests in the hands of amateurs. Professional
managers cannot be hired due to lack of funds.
I. LIMITED CAPITAL:
The amount of capital that a cooperative society can raise from its member is very
limited because the membership is generally confined to a particular section of the
society. Again due to low rate of return the members do not invest more capital.
Government’s assistance is often inadequate for most of the co-operative societies.

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II. PROBLEMS IN MANAGEMENT:
Generally it is seen that co-operative societies do not function efficiently due to lack
of managerial talent. The members or their elected representatives are not experienced
enough to manage the society. Again, because of limited capital they are not able to
get the benefits of professional management.
III. LACK OF MOTIVATION:
Every co-operative society is formed to render service to its members rather than to
earn profit. This does not provide enough motivation to the members to put in their
best effort and manage the society efficiently.
IV. LACK OF CO-OPERATION:
The co-operative societies are formed with the idea of mutual co-operation. But it is
often seen that there is a lot of friction between the members because of personality
differences, ego clash, etc. The selfish attitude of members may sometimes bring an
end to the society.
V. DEPENDENCE ON GOVERNMENT:
The inadequacy of capital and various other limitations make cooperative societies
dependant on the government for support and patronage in terms of grants, loans
subsidies, etc. Due to this, the government sometimes directly interferes in the
management of the society and also audits their annual accounts.

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TYPES OF CO-OPERATIVE SOCIETIES
Although all types of cooperative societies work on the same principle, they differ
with Regard to the nature of activities they perform. Followings are different types of
co-operative Societies that exist in our country.
1. CONSUMERS’ CO-OPERATIVE SOCIETY:
These societies are formed to protect the interest of general consumers by making
consumer goods available at a reasonable price. They buy goods directly from the
producers or manufacturers and thereby eliminate the middlemen in the process of
distribution. Kendriya Bhandar, Apna Bazar and Sahkari Bhandar are examples of
consumers’ co-operative society
2. PRODUCERS’ CO-OPERATIVE SOCIETY:
These societies are formed to protect the interest of small producers by making
available items of their need for production like raw materials, tools and equipments,
machinery, etc. Handloom societies like APPCO, Bayanika, Haryana Handloom, etc.,
are examples of producers’ co-operative society.
3. CO-OPERATIVE MARKETING SOCIETY:
These societies are formed by small producers and manufacturers who find it difficult
to sell their products individually. The society collects the products from the
individual members and takes the responsibility of selling those products in the
market. Gujarat Co-operative Milk Marketing Federation that sells AMUL milk
products is an example of marketing co-operative society.
4. CO-OPERATIVE CREDIT SOCIETY:
These societies are formed to provide financial support to the members. The society
accepts deposits from members and grants them loans at reasonable rates of interest in
times of need. Village Service Co-operative Society and Urban Cooperative Banks are
examples of co-operative credit society.

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5. CO-OPERATIVE FARMING SOCIETY:
These societies are formed by small farmers to work jointly and thereby enjoy the
benefits of large-scale farming. Lift-irrigation cooperative societies and pani-
panchayats are some of the examples of co-operative farming society.
6. Housing Co-operative Society:
These societies are formed to provide residential houses to members. They purchase
land, develop it and construct houses or flats and allot the same to members. Some
societies also provide loans at low rate of interest to members to construct their own
houses. The Employees’ Housing Societies and Metropolitan Housing Co-operative
Society are examples of housing co-operative society
CHARACTERISTICS OF CO-OPERATIVE SOCIETY
A co-operative society is a special type of business organization different from other
forms of origination you have learnt earlier. Let us discuss its characteristics.
I. OPEN MEMBERSHIP:
The membership of a Co-operative Society is open to all those who have a common
interest. A minimum of ten members are required to form a cooperative society. The
Co–operative society Act does not specify the maximum number of members for any
co-operative society. However, after the formation of the society, the member may
specify the maximum number of members.
II. VOLUNTARY ASSOCIATION:
Members join the co-operative society voluntarily, that is, by choice. A member can
join the society as and when he likes, continue for as long as he likes, and leave the
society at will.

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III. STATE CONTROL:
To protect the interest of members, co-operative societies are placed under state
control through registration. While getting registered, a society has to submit details
about the members and the business it is to undertake. It has to maintain books of
accounts, which are to be audited by government auditors.
IV. SOURCES OF FINANCE:
In a co-operative society capital is contributed by all the members. However, it can
easily raise loans and secure grants from government after its registration.
V. DEMOCRATIC MANAGEMENT:
Co-operative societies are managed on democratic lines. The society is managed by a
group known as “Board of Directors”. The members of the board of directors are the
elected representatives of the society. Each member has a single vote, irrespective of
the number of shares held. For example, in a village credit society the small farmer
having one share has equal voting right as that of a landlord having 20 shares.
IV. SERVICE MOTIVE:
Co-operatives are not formed to maximize profit like other forms of business
organization. The main purpose of a Co-operative Society is to provide service to its
members. For example, in a Consumer Co-operative Store, goods are sold to its
members at a reasonable price by retaining a small margin of profit. It also provides
better quality goods to its members and the general public.
V. SEPARATE LEGAL ENTITY:
A Co-operative Society is registered under the Co-operative Societies Act. After
registration a society becomes a separate legal entity, with limited liability of its
members. Death, insolvency or lunacy of a member does not affect the existence of a
society. It can enter into agreements with others and can purchase or sell properties in
its own name.

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VI. DISTRIBUTION OF SURPLUS:
Every co-operative society in addition to providing services to its members also
generates some profit while conducting business. Profits are not earned at the cost of
its members. Profit generated is distributed to its members not on the basis of the
shares held by the members (like the company form of business), but on the basis of
members’ participation in the business of the society. For example, in a consumer co-
operative store only a small part of the profit is distributed to members as dividend on
their shares; a major part of the profit is paid as purchase bonus to members on the
basis of goods purchased by each member from the society.
VII. SELF-HELP THROUGH MUTUAL COOPERATION:
Co-operative Societies thrive on the principle of mutual help. They are the
organizations of financially weaker sections of society. Co-operative Societies convert
the weakness of members into strength by adopting the principle of self-help through
mutual co-operation. It is only by working jointly on the principle of “Each for all and
all for each”; the members can fight exploitation and secure a place in society.
SUITABILITY OF CO-OPERATIVE SOCIETIES:
You have learnt that the main objective of co-operative form of business
organization is to provide service rather than to earn profit. The co-operative society is
the only alternative to protect the weaker sections of the society and to promote the
economic interest of the people. In certain situations when it is not possible to achieve
the target by individual effort, collective effort in the form of a co-operative society is
preferred. Housing co-operatives, Marketing co-operatives, etc., are formed to achieve
the common economic objectives of the members. Generally co-operative society is
suitable for small and medium size business operation. However, large scale co-
operative societies like IFFCO, KRIBHCO etc. are also found in India.

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FORMATION OF A CO-OPERATIVE SOCIETY:
A Co-operative Society can be formed as per the provisions of the Co-operative
Societies Act, 1912. At least ten persons having the capacity to enter into a contract
with common economic objectives, like farming, weaving, consuming, etc. can form a
Co-operative Society. A joint application along with the bye-laws of the society
containing the details about the society and its members has to be submitted to the
Registrar of Co-operative Societies of the concerned state. After scrutiny of the
application and the bye–laws, the registrar issues a Certificate of Registration.
Requirements for Registration:
1. Application with the signature of all members
2. Bye-laws of the society containing:
a. Name, address and aims and objectives of the society;
b. Names, addresses and occupations of members;
c. Mode of admitting new members;
d. Share capital and its division.

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BUSINESS PROCESSOUTSOURCING (BPO)
Business process outsourcing (BPO) is a subset of outsourcing that involves
the contracting of the operations and responsibilities of a specific business process to a
third-party service provider. Originally, this was associated with manufacturing firms,
such as Coca Cola that outsourced large segments of its supply chain.
BPO is typically categorized into back office outsourcing, which includes internal
business functions such as human resources or finance and accounting, and office
outsourcing, which includes customer-related services such as contact centre services.
BPO that is contracted outside a company's country is called offshore outsourcing.
BPO that is contracted to a company's neighboring (or nearby) country is called near
shore outsourcing.
Often the business processes are information technology-based, and are referred to
as ITES-BPO, where ITES stands for Information Technology Enabled
Service. Knowledge process outsourcing (KPO) and legal process outsourcing (LPO)
are some of the sub-segments of business process outsourcing industry.
ITPL, Bangalore, India, the hub of information technology companies
The main advantage of any BPO is the way in which it helps increase a company's
flexibility. However, several sources have different ways in which they perceive
organizational flexibility. In early 2000s BPO was all about cost efficiency, which
allowed a certain level of flexibility at the time. Due to technological advances and
changes in the industry (specifically the move to more service-based rather than
product-based contracts), companies who choose to outsource their back-office
increasingly look for time flexibility and direct quality control. Business process
outsourcing enhances the flexibility of an organization in different ways:

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Most services provided by BPO vendors are offered on a fee-for-service basis, using
business models such as Remote In-Sourcing or similar software development and
outsourcing models. This can help a company to become more flexible by
transforming fixed into variable. A variable cost structure helps a company responding
to changes in required capacity and does not require a company to invest in assets,
thereby making the company more flexible.
Another way in which BPO contributes to a company’s flexibility is that a company is
able to focus on its core competencies, without being burdened by the demands of
bureaucratic restraints. Key employees are herewith released from performing non-
core or administrative processes and can invest more time and energy in building the
firm’s core businesses. The key lies in knowing which of the main value drivers to
focus on – customer intimacy, product leadership, or operational excellence. Focusing
more on one of these drivers may help a company create a competitive edge.
A third way in which BPO increases organizational flexibility is by increasing the
speed of business processes. Supply chain management with the effective use of
supply chain partners and business process outsourcing increases the speed of several
business processes, such as the throughput in the case of a manufacturing company.
Finally, flexibility is seen as a stage in the organizational life cycle: A company can
maintain growth goals while avoiding standard business bottlenecks. BPO therefore
allows firms to retain their entrepreneurial speed and agility, which they would
otherwise sacrifice in order to become efficient as they expanded. It avoids a
premature internal transition from its informal entrepreneurial phase to a more
bureaucratic mode of operation.
A company may be able to grow at a faster pace as it will be less constrained by large
capital expenditures for people or equipment that may take years to amortize, may
become outdated or turn out to be a poor match for the company over time.

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Although the above-mentioned arguments favor the view that BPO increases the
flexibility of organizations, management needs to be careful with the implementation
of it as there are issues, which work against these advantages. Among problems,
which arise in practice are: A failure to meet service levels, unclear contractual issues,
changing requirements and unforeseen charges, and a dependence on the BPO which
reduces flexibility. Consequently, these challenges need to be considered before a
company decides to engage in business process outsourcing.
A further issue is that in many cases there is little that differentiates the BPO providers
other than size. They often provide similar services, have similar geographic
footprints, leverage similar technology stacks, and have similar Quality Improvement
approaches.
Threats
Risk is the major drawback with Business Process Outsourcing. Outsourcing of an
Information System, for example, can cause security risks both from a communication
and from a privacy perspective. For example, security of North American or European
company data is more difficult to maintain when accessed or controlled in the Indian
Sub-Continent. From a knowledge perspective, a changing attitude in employees,
underestimation of running costs and the major risk of losing independence,
outsourcing leads to a different relationship between an organization and its
contractor.
Risks and threats of outsourcing must therefore be managed, to achieve any benefits.
In order to manage outsourcing in a structured way, maximizing positive outcome,
minimizing risks and avoiding any threats, a Business continuity management (BCM)
model is set up. BCM consists of a set of steps, to successfully identify, manage and
control the business processes that are, or can be outsourced.

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Industry size
India has revenues of US$10.9 billion from offshore BPO and $30 billion from IT and
total BPO (expected in FY 2008). India thus has some 5-6% share of the total BPO
Industry, but a commanding 63% share of the offshore component. This 63% is a drop
from the 70% offshore share that India enjoyed last year: despite the industry growing
38% in India last year, other locations like Philippines, and South Africa have
emerged to take a share of the market. By the year 2016, the BPO Industry in
the Philippines will employ 1.2 million workers with $25 billion in revenues. The
South African call centre industry has grown by approximately 8% per year since
2003 and it directly employs about 54,000 people, contributing 0.92% to South
Africa's gross domestic product (GDP). China is also trying to grow from a very small
base in this industry. However, while the BPO industry is expected to continue to
grow in India, its market share of the offshore piece is expected to decline. Important
centers in India are Bangalore, Gorgon, Chennai, Kolkata, Mumbai, Pune, and New
Delhi.
The Association of Southeast Asian Nations (ASEAN) countries, along with the
People's Republic of China and India—known collectively as ACI countries—are
likely to see services like BPO figure strongly in their economies over the medium
term. Services trade among ACI countries has been growing at a very rapid rate over
recent years, despite starting from a relatively low baseline. Although data are scarce
and must be interpreted with caution, an analysis of applied services sector policies in
the region suggests there is much policymakers can do to intensify this process, and
increase the pace at which the transformation to a service economy is taking place.

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CHAPTER - II
ORGANISATIONAL PROFILE
NAME OF THE The Government Telecommunication
ORGANISTAION Employees' Co- operative Society ltd..
DATE OF ESTABLISHMENT 07.07.1924
REGISTRATION NUMBER MSCS CR 10/86
CASH ON HAND Rs. 1,33,69,080.00/- (as at 31.03.2015)
BALANCE WITH BANKS Rs. 50,41,52,714.01/- (as at 31.03.2015)
SHARE CAPITAL Rs. 34,29,36,980.00/- (as at 31.03.2015)
TOTAL BORROWNGS Rs. 6,11,18,09,068.60/- (as at 31.03.2015)
NET PROFIT Rs 5,79,39,725.86/- (as at 31.03.2015)
ADDRESS OF THE 37A, Sembudoss street, Chennai - 600001
HEAD QUARTER
ADDRESS OF THE Coimbatore: No. 82-A, State Bank Road,
BRANCH OFFICES Subbu Plaza, Cbe- 641018
Trichy: No. 9, Sri Ranga Towers,
Royal Road, Contonment,
Trichy - 620001.
Salem: BSNL Staff Quarters,
Chinna Thirupathi PO,
Salem - 636008
Madurai: BSNL Staff Quarters,
Telephone Exchange,
70 Feet Road,
Madurai - 625010
Bangalore: No.13, SubashNagar,
Battrahalli,
Bengaluru - 560049

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THE GOVERNMENT TELECOMMUNICATION EMPLOYEES'
CO - OPERATIVE SOCIETY
The Government Telecommunication Employees’ Cooperative Society Ltd., Chennai
is a Multi-State Cooperative Society with Registration No: MSCS CR 10/86. This
society is under the control of the Central Registrar, New Delhi. It is originally
registered as a Cooperative Society under Act II of 1912 with registration No.G 499
and converted as Multi State Cooperative Society in the year 1986.
The date of registration of the society was 07.07.1924 and started working on from
09.07.1924. The society is functioning with Head Office at Chennai, No.37 A,
Sembudoss Street, Chennai –1 and branches at Coimbatore, Trichy, Salem, Madurai
and Bangalore. The society is being managed by the elected Board of Directors.
The primary function of the society is to issue ordinary loans to members those who
are working in Bharat Sanchar Nigam Limited and the society’s area of operation is
all over Tamil Nadu, Pondicherry, part of Kerala, Karnataka and Andhra Pradesh.
The society also issues jewel loans to the needy members. The society raises funds
for the business of the society primarily from borrowed funds from the private and
Nationalized Banks by way of term loan and to a limited extent and by way of
deposits from the members. The society has issued loan to the members and the
amount outstanding is Rs. 393.85/-crores as on 31.03.2011.
The Objectives of the society are
 Generally to encourage Thrift, Self help and Co-operation among the
members
 To borrow funds from members or banking institutions for utilization of
issuance of loans to members for useful purposes.
 To act as agent for the joint purchase of the domestic and other requirements
of its members.
 To raise funds required for the business of the society
 To open Branches within the area of operation of the society.

Page | 25
Staffs
The society has five branches spread over different geographies and has over 94 staff
including permanent and temporary. The organization constantly thrive on servicing
their members to their fullest satisfaction and with fastest response time. Towards
that direction they have set themselves a goal of computerizing their entire operations
within the 2010 and also train their entire staff in all basic computer skills and
advanced computer skills so that they can serve their members better. They provide a
very relaxed work environment with the open door policy so that any of their
employees can approach the senior management and the board including the
President any time with their grievances and suggestions to improve. As we are the
India's first ever society which is in the process of total automation and they proudly
say that all their staff members are truly excited about the new Board and the recent
developments.
GTECS is very proud to inform that their service to their members by introducing
various innovative schemes for welfare and benefits of their members. Scheme of
Fixed Deposit is best in the financial surroundings by all standards. We would like
you to compare yourself with the following information.
S.No Institution % AS OF June 2011
1 POST OFFICE 8%
2 STATE BANK OF INDIA 9 .25 %
3 INDIAN BANK 9 .25%
4 CANARA BANK 9 .25%
5 PUNJAB NATIONAL BANK 9 .25%
6 REPCO BANK 10 .10%
7 TAMILNADU MERCANTILE BANK 10 .25%
8 KARUR VYSYSA BANK 10%
9 ICICI BANK 8 .25%
10 GTECS(Ours) 11 .5 %

Page | 26
Members
They are always happy to have new members into their society family. They
accept two type of membership into their society.
(a)RegularMember : (A-Class)
GTECS provides regular membership facilities to the employees of Bharath Sanchar
Nigam Limited (BSNL) and Department of Telecommunications (DoT). The
eligibility criteria for the joining as a regular member is as follows:
 The member must be a confirmed employee (or) a permanent employee (or)
must have worked in regular service for more than one year and be
contributing to General Provident Fund in the BSNL / DoT, Chennai or TN
circle.
 The remaining period of service in the mentioned establishments shall not be
less than five years. The retirement age is currently at 60 years
Regular members have voting power and can avail all the facilities provided by
GTECS
(b) Nominal or Associate Member: (B-Class)
GTECS provides a nominal membership option from retired employees of BSNL.
These nominal members do not have voting power and also cannot avail all the
facilities availing by a typically regular member.
There is no restrictionon the age or service or remaining service for the associate
members, They are permitted to avail FD facilities.

Page | 27
Member Admission
(a) Regular Member : (A-Class)
On eligibility and with the approval of the board, the applicant shall be admitted into
the society as a regular member. At the time of admission, the member shall pay:
 Share Capital of at least Re 10/- (one share)
 A non-refundable entrance fee of Re 1/- per share up to a maximum of Rs
50/- overall. The fee may be paid proportionately at the time of taking the
shares.
 Postage charges of Rs 6/- for sending membership admission intimation
Total amount payable: Rs 17/- ((may change if postage charges is changed)
Regular members have voting power and can avail all the facilities provided by
GTECS for regular members (given later)
(b) Nominal or Associate Member: (B-Class)
At the time of admission, the member shall pay a non-refundable entrance fee of
Rs. 25/-.
Deposits for regular members
a) Thrift Deposit (TD)
This is a compulsory monthly contribution to be deducted every month from every
member. The current prevailing amount being deducted from regular members is Rs.
800/-. The member may optionally request for an amount greater than the minimum
amount of Rs. 800/-. Typically, 8% interest shall be paid by the society to the member
at the end of the year. This deposit and its accumulated interest due to the member
cannot be withdrawn until their cessation of membership.

Page | 28
b) Family Welfare Scheme Deposit (FWS)
Family Welfare scheme deposit is a mandatory deposit for regular members. An
amount of Rs. 1200/- is to be deducted every month from the member. The primary
purpose of the FWS deposit is to ensure that the welfare of the member’s family, in
case of unforeseen death, is taken care of.
c) Share Capital (SC)
Share capital is a mandatory deposit by all regular members of the society. Every
member should at least have on share (of Rs 10/-) to become a regular member with
voting rights in the society.
For loans availed, 5% of the loan amount should have been paid share capital at any
time in the member’s account. Else, the same is deducted at the time of loan
disbursement.
Yearly dividend is paid to the members for the share capital held with the society
by the member. The dividend rate is decided by the RGB every year and this typically
is dependent on the performance of the society. The maximum dividend that will be
paid subject to availability of profit may be provided is 15% as per the bye laws.
Loans Issued
Regular members can avail the following loans (or other new loans that may be
introduced from time to time):
a) Ordinary Loan (OL)
Currently the maximum limit for OL is Rs. 6,00,000. But the actual eligibility for
each member may vary depending on various conditions at the time of loan
application. The total eligibility for member depends on their basic salary, surety
eligibility, current deductions, etc. Each member is allowed only one OL but can
consolidate any number of times as long as there are minimum three recoveries should
have been completed. Please contact the societyfor further details. If you are a
member currently you can login online and check your eligibility.

Page | 29
b) Education Loan (EL)
Currently we allow maximum of Rs. 10,000 for Education Loan with the interest
rate of 16%. The maximum allowed installments are 10. Please contact the society for
further information.
c) Festival OccasionLoan (FOL)
Currently we allow maximum of Rs. 10,000 for Festival Loan with the interest rate
of 16%. The maximum allowed installments are 10. Please contact the societyfor
d) Jewel Loan (JL)
Jewel loans are given both Regular and Nominal members. One can avail any
number of Jewel Loans. We give up to Rs. 1800 per gram as the loan amount and
member can avail the jewel loan up to 8,00,000. with the interest rate of 13.5%.
e) Computer Loan (CL)
Currently we allow maximum of Rs. 20,000 for Computer Loan with the interest
rate of 16%. The maximum allowed installments are 20. Please contact the society for

HIGHLIGHTS OF THE SOCIETY
Page | 30
S.No Particulars 2003 –04
(audited)
2004 –05
(audited)
2005 –06
(audited)
2006-07
(audited)
2007-08
(audited)
2008-09
(audited)
2009-10
(audited)
2010-11
(audited)
1 No. of members 24290 23950 22806 21656 21402 21749 21389 21876
2 Members Share Capital
(Rupees in crores)
23.28 23.1 29.43 31.51 32.99 34.47 35.91 50.81
3 Working Capital
(Rupees in crores)
168.44 177.46 247.62 263.74 277.41 284.37 290.35 510.8
4 Fixed Deposit
( Rupees in Crores)
2.52 3.24 4.77 4.46 4.52 4.42 16.72 28.22
5 Members Thrift Fund
(Rupees in Crores)
54.98 55.3 57.78 64.82 72.4 80.34 87.65 97.77
6 Members Family Welfare
Fund (Rupees in crores)
16.47 18.06 20.36 24.17 27.93 31.39 34.32 39.93
7 Profit (Rupees in crores) 6.59 6.01 4.78 3.89 3.48 6.66 7.6 8.47
8 Dividend 12 12 12 12 12 - 12 12
9 Loan outstanding (Rupees
in crores)
68.6 75.24 132.96 136.67 137.49 131.19 113.31 291.07
10 Members Loan outstanding
(Rupees in crores)
177.01 171.4 228.13 243.02 255.94 261.2 269.09 393.85
11 Members overdue (Rupees
in crores)
1.72 1.55 1.3 2.35 3.13 2.68 2.59 3.31
12 % of overdue 0.97 0.91 0.57 0.97 1.23 1.03 0.96% 0.84%

ORGANISATIONAL CHART
Page | 28
President
Vice
president
Treasurer
Director
Representative
General Body
members
Members
Board of Management
(Elected Bodies)
Cheif Executive Officer
Seceratory
Assistant Manager
(Loan Section)
Floor
Managers
and
Branch
Incharge
Accountant
Counter
Clerks
Receipt
writer
Peon
Receptionist
Despatch
clerk
Peon
Assistant Manager
(Cash section)
Cashier
Day Book
Clerk
Staff loan
section
Employees
provident fund
section
Assistant manager
(Establishment
Section)
Establishment
clerk
Typist
Section
Peon
Assistant
Manager
(Audit
section)
Reconcilation
clerks
Assistant
Manager
(Computer
Section)
Section
clerks

Page | 29
CHAPTER - III
DEPARTMENTS (SECTIONS) AND ITS FUNCTIONS
1. Reception Section:
The Reception is a Front office and the first department of the institution in
each organization. Receptionist is the person who takes care of the reception section in
each of the organization and acts as a guide for the third person and helps the
organization through attending the enquires by face to face or through phone.
a. What is a Receptionist?
A Receptionist is a specialized type of Administrative Assistant. A receptionist
(sometimes referred to as an administrative assistant) is someone who performs
various administrative tasks, including answering telephones and giving information
to the public and customers. Receptionists are often the first employee that the public
or customer has contact with. They are responsible for making a good first impression
for the organization, which can affect the organization's success.
b. What does a Receptionist do?
Receptionists typically do the following:
 Answer, screen, and forward telephone calls
 Greet walk-in customers and other visitors and escort them to specific
destinations
 Contribute to the security of the office by helping to monitor visitors' access
 Obtain or send information or documents using a computer, mail, or a fax
machine
 Perform other administrative support tasks, such as keeping appointment
calendars
 Copy, file, and maintain documents and records
 Collect, sort, distribute, and prepare mail and courier deliveries
 Process and prepare travel vouchers or other documents

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Although some tasks are common to most receptionists, their specific
responsibilities vary depending on their work establishment. For example,
receptionists in hospitals and in doctors' offices may gather patients' personal and
insurance information and direct patients to the proper waiting room. In corporate
headquarters, they may greet visitors and manage the scheduling of the board room or
common conference area. In beauty or hair salons, they arrange appointments, direct
clients to the hairstylist, and may serve as cashiers. In factories, large corporations,
and government offices, receptionists may provide identification cards for visitors and
arrange for escorts to take visitors to the proper office. Those working for bus and
train companies respond to passengers’ inquiries about departures, arrivals, stops, and
other related matters.
Receptionists use the telephone, computers, and other electronic devices. Despite
the widespread use of voicemail or other automated systems, many receptionists still
take messages and inform other employees of the public’s or customers’ arrivals or
cancellations of appointments. When they are not busy, receptionists are usually
expected to help other administrative employees by doing a variety of office tasks.
c. In GTECS (work of the Receptionists):
The Receptionist helps the society through
i. receiving the application via post
ii. assisting the office staffs by diverting the phone call enquiries to the
concern staff or section (department).
iii. helps the members to reach the particular counter and guides them in the
correct manner to satisfy their queries.

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2. Loan Section:
This is the section where the company scrutinizes the details given by the
persons those who request loans from the company. This is section is the
section where the company is indulges
 Clerical staffs
 Receipt Writers
 Peons
in the work.
a) Loan
In finance, a loan is the lending of money from one individual, organization or
entity to another individual, organization or entity. A loan is a debt provided by an
entity (organization or individual) to another entity at an interest rate, and evidenced
by a promissory note which specifies, among other things, the principal amount of
money borrowed, the interest rate the lender is charging, and date of repayment. A
loan entails the reallocation of the subject asset(s) for a period of time, between
the lender and the borrower.
In a loan, the borrower initially receives or borrows an amount of money, called
the principal, from the lender, and is obligated to pay back or repay an equal amount
of money to the lender at a later time.
The loan is generally provided at a cost, referred to as interest on the debt, which
provides an incentive for the lender to engage in the loan. In a legal loan, each of these
obligations and restrictions is enforced by contract, which can also place the borrower
under additional restrictions known as loan covenants. Although this article focuses on
monetary loans, in practice any material object might be lent.
Acting as a provider of loans is one of the principal tasks for financial
institutions such as banks and credit card companies. For other institutions, issuing
of debt contracts such as bonds is a typical source of funding.

Page | 32
I. Types of Loans:
i. Secured
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or
property) as collateral.
A mortgage loan is a very common type of loan, used by many individuals to
purchase things. In this arrangement, the money is used to purchase the property. The
financial institution, however, is given security – a lien on the title to the house – until
the mortgage is paid off in full. If the borrower defaults on the loan, the bank would
have the legal right to repossess the house and sell it, to recover sums owing to it.
ii. Unsecured
Unsecured loans are monetary loans that are not secured against the borrower's
assets. These may be available from financial institutions under many different guises
or marketing packages:
 credit card debt
 personal loans
 bank overdrafts
 credit facilities or lines of credit
 corporate bonds (may be secured or unsecured)
 peer-to-peer lending
The interest rates applicable to these different forms may vary depending on the
lender and the borrower. These may or may not be regulated by law. In the United
Kingdom, when applied to individuals, these may come under the Consumer Credit
Act 1974.
Interest rates on unsecured loans are nearly always higher than for secured
loans, because an unsecured lender's options for recourse against the borrower in the
event of default are severely limited. An unsecured lender must sue the borrower,
obtain a money judgment for breach of contract, and then pursue execution of the
judgment against the borrower's unencumbered assets (that is, the ones not already
pledged to secured lenders).

Page | 33
iii. Demand
Demand loans are short term loans that are typically in that they do not have
fixed dates for repayment and carry a floating interest rate which varies according to
the prime lending rate. They can be "called" for repayment by the lending institution
at any time. Demand loans may be unsecured or secured.
iv. Subsidized
A subsidized loan is a loan on which the interest is reduced by an explicit or
hidden subsidy. In the context of college loans in the United States, it refers to a loan
on which no interest is accrued while a student remains enrolled in education.
v. Concessional
A concessional loan, sometimes called a "soft loan", is granted on terms
substantially more generous than market loans either through below-market interest
rates, by grace periods or a combination of both. Such loans may be made by foreign
governments to developing countries or may be offered to employees of lending
institutions as an employee benefit.
II. Target markets:
i. Personal
Loans can also be subcategorized according to whether the debtor is an individual
person (consumer) or a business. Common personal loans include mortgage loans, car
loans, home equity lines of credit, credit cards, installment loans and payday loans.
The credit score of the borrower is a major component in and underwriting and
interest rates (APR) of these loans. The monthly payments of personal loans can be
decreased by selecting longer payment terms, but overall interest paid increases as
well. For car loans in the U.S., the average term was about 60 months in 2009.

Page | 34
ii. Commercial
Loans to businesses are similar to the above, but also include commercial
mortgages and corporate bonds. Underwriting is not based upon credit score but
rather credit rating.
b. Clerks:
The clerks are the official staffs those who checks all the details of the
entering third party and scrutinizes al the details . They are the most important
staffs in each office.
i. Duties and Tasks of Clerk
 Collect, count, and disburse money, do basic bookkeeping and complete
banking transactions.
 Communicate with customers, employees, and other individuals to answer
questions, disseminate or explain information, take orders and address
complaints.
 Answer telephones, direct calls and take messages.
 Compile, copy, sort, and file records of office activities, business transactions,
and other activities.
 Complete and mail bills, contracts, policies, invoices, or checks.
 Operate office machines, such as photocopiers and scanners, facsimile
machines, voice mail systems and personal computers.
 Compute, record, and proofread data and other information, such as records or
reports.

Page | 35
 Maintain and update filing, inventory, mailing, and database systems, either
manually or using a computer.
 Open, sort and route incoming mail, answer correspondence, and prepare
outgoing mail.
 Review files, records, and other documents to obtain information to respond to
requests.
 Deliver messages and run errands.
 Inventory and order materials, supplies, and services.
 Complete work schedules, manage calendars and arrange appointments.
 Process and prepare documents, such as business or government forms and
expense reports.
 Monitor and direct the work of lower-level clerks
 Type, format, proofread and edit correspondence and other documents, from
notes or dictating machines, using computers or typewriters.
 Count, weigh, measure, and/or organize materials
 Train other staff members to perform work activities, such as using computer
applications.
 Prepare meeting agendas, attend meetings, and record and transcribe minutes.
 Troubleshoot problems involving office equipment, such as computer hardware
and software.
 Make travel arrangements for office personnel.

Page | 36
ii. Job Activities for: "Office Clerk"
 Interacting With Computers -- Using computers and computer systems
(including hardware and software) to program, write software, set up functions,
enter data, or process information.
 Getting Information -- Observing, receiving, and otherwise obtaining
information from all relevant sources.
 Communicating with Supervisors, Peers, or Subordinates -- Providing
information to supervisors, co-workers, and subordinates by telephone, in
written form, e-mail, or in person.
 Performing Administrative Activities -- Performing day-to-day
administrative tasks such as maintaining information files and processing
paperwork.
 Establishing and Maintaining Interpersonal Relationships -- Developing
constructive and cooperative working relationships with others, and
maintaining them over time.
 Processing Information -- Compiling, coding, categorizing, calculating,
tabulating, auditing, or verifying information or data.6) Processing
Information --
 Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying
information or data.
 Documenting/Recording Information -- Entering, transcribing, recording,
storing, or maintaining information in written or electronic/magnetic form.
 Performing for or Working Directly with the Public -- Performing for
people or dealing directly with the public. This includes serving customers in
restaurants and stores, and receiving clients or guests.

Page | 37
 Organizing, Planning, and Prioritizing Work -- Developing specific goals
and plans to prioritize, organize, and accomplish your work.
 Making Decisions and Solving Problems -- Analyzing information and
evaluating results to choose the best solution and solve problems.
 Identifying Objects, Actions, and Events -- Identifying information by
categorizing, estimating, recognizing differences or similarities, and detecting
changes in circumstances or events.
 Communicating with Persons Outside Organization -- Communicating
with people outside the organization, representing the organization to
customers, the public, government, and other external sources. This
information can be exchanged in person, in writing, or by telephone or e-mail
 Updating and Using Relevant Knowledge -- Keeping up-to-date technically
and applying new knowledge to your job.
iii. In GTECS (works in the Loan Section):
In this section the society 's clerical staffs indulge in the following activities
 Scrutinizing of application
 Processing of Loan Application
 Fulfilling the members' satisfaction
 Calculating the amount of loan to be issued as per the Pay bill
produced by the member
 Calculating the amount of principle and the interest to be paid each
month

Page | 38
 Feeding the Members' respective account in the computer for an
updated view of the society
 Mentioning whether the loan payment should be made through
 Cash (as per RBI rules cash transaction should not exceed
Rs. 20,000/- )
 Cheque
 ECS
 Letter corresponding
 Preparation of Demand Statement
 Preparing cut of data 10th of every month
 Recovery statement
 Posting in loan ledger
 Preparing General Loan - Adjustment slip

Page | 39
3. Accounting Section:
This is the section where the company's accounts are being calculated and the
balance sheet is being produced for each and every day.
a. Accounting
Accounting or accountancy is the measurement, processing and communication
of financial information about economic entities. The modern field was established by
the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the
"language of business", measures the results of an organization's economic activities
and conveys this information to a variety of users,
including investors, creditors, management, and regulators.] Practitioners of
accounting are known as accountants. The terms 'accounting' and 'financial reporting'
are often used as synonyms.
Accounting can be divided into several fields including financial
accounting, management accounting, auditing, and tax accounting. Accounting
information systems are designed to support accounting functions and related
activities. Financial accounting focuses on the reporting of an organization's financial
information, including the preparation of financial statements, to external users of the
information, such as investors, regulators and suppliers; and management accounting
focuses on the measurement, analysis and reporting of information for internal use by
management. The recording of financial transactions, so that summaries of the
financials may be presented in financial reports, is known as bookkeeping, of
which bookkeeping is the most common system.
Accounting is facilitated by accounting organizations such as standard-
setters, accounting firms and professional bodies. Financial statements are usually
audited by accounting firms, and are prepared in accordance with generally accepted
accounting principles(GAAP). GAAP is set by various standard-setting organizations
such as the Financial Accounting Standards Board (FASB) in the United States and
the Financial Reporting Council in the United Kingdom. As of 2012, "all major

Page | 40
economies" have plans to converge towards or adopt the International Financial
Reporting Standards (IFRS).
Accounting has several subfields or subject areas, including financial
accounting, management accounting, auditing, taxation and accounting information
systems.
i. Financial accounting
Financial accounting focuses on the reporting of an organization's financial
information to external users of the information, such
as investors, regulators and suppliers. It calculates and records business transactions
and prepares financial statements for the external users in accordance with generally
accepted accounting principles (GAAP). GAAP, in turn, arises from the wide
agreement between accounting theory and practice, and change over time to meet the
needs of decision-makers.
Financial accounting produces past-oriented reports—for example the financial
statements prepared in 2006 reports on performance in 2005—on an annual or
quarterly basis, generally about the organization as a whole.
This branch of accounting is also studied as part of the board exams for qualifying
as an actuary. It is interesting to note that these two professionals, accountants and
actuaries, have created a culture of being arch rivals.
ii. Management accounting
Management accounting focuses on the measurement, analysis and reporting of
information that can help managers in making decisions to fulfill the goals of an
organization. In management accounting, internal measures and reports are based
on cost-benefit analysis, and are not required to follow the generally accepted
accounting principle (GAAP). In 2014 CIMA created the Global Management
Accounting Principles (GMAPs). The result of research from across 20 countries in
five continents, the principles aim to guide best practice in the discipline.

Page | 41
Management accounting produces future-oriented reports—for example the
budget for 2006 is prepared in 2005—and the time span of reports varies widely. Such
reports may include both financial and non financial information, and may, for
example, focus on specific products and departments.
iii. Auditing
Auditing is the verification of assertions made by others regarding a payoff, and
in the context of accounting it is the "unbiased examination and evaluation of the
financial statements of an organization".
An audit of financial statements aims to express or disclaim an opinion on the
financial statements. The auditor expresses an opinion on the fairness with which the
financial statements presents the financial position, results of operations, and cash
flows of an entity, in accordance with the generally acceptable accounting principle
(GAAP) and "in all material respects". An auditor is also required to identify
circumstances in which the generally acceptable accounting principles (GAAP) has
not been consistently observed.
iv. Accounting information systems
An accounting information system is a part of an organization's information
system that focuses on processing accounting data.
Tax accounting
Tax accounting in the United States concentrates on the preparation, analysis
and presentation of tax payments and tax returns. The U.S. tax system requires the use
of specialized accounting principles for tax purposes which can differ from
the generally accepted accounting principles (GAAP) for financial reporting. U.S. tax
law covers four basic forms of business ownership: sole
proprietorship, partnership, corporation, and limited liability
company. Corporate and personal income are taxed at different rates, both varying
according to income levels and including varying marginal rates (taxed on each
additional dollar of income) and average rates (set as a percentage of overall income).

Page | 42
b. What are an Accountant’s Roles and Responsibilities?
An accountant has several roles and responsibilities to meet in their job, both in
terms of their competence at carrying out accounting practices as well as their ethics
and approach to the job.
i. Ethics and Approach
It is the responsibility of an accountant to ensure they’re working within the law
at all times. For example, an accountant might give advice on how a person could
reduce their tax bill, but they shouldn’t be advising a person to do something illegal,
such as deliberately misinforming the relevant authority about business revenues or
earnings, for example.
An accountant should also notify the relevant authorities if they become aware
of a person or business that is breaking the law within their financial affairs.
ii. Impartiality
It is crucial that accountants maintain their impartiality; their role is to advise
clients and act as they’re instructed, not to try to sell services. Yes, accountants will
naturally tell clients what additional services they provide and how they might benefit
from using them, but they shouldn’t be pushy or insistent while doing so.
An Accountant’s Job Role Accountancy is one of the most detailed and diverse
roles in the finance industry and as such accountants are required to be competent in a
number of areas.

Page | 43
iii. An Accountant’s Job Role
Accountancy is one of the most detailed and diverse roles in the finance industry and
as such accountants are required to be competent in a number of areas.
The role of an accountant might include the following:
 Prepare profit and loss statements on behalf of a business.
 Set up accounting practices and procedures for new companies and
advise on how to manage these.
 Analyze budgets and other financial information and advise where
savings could be made.
 Help to produce budgets for businesses and implement strategies for
cost savings.
 Ensure company accounts and tax returns are prepared and filed
correctly and on time.
It is such a diverse role that these areas might not ever be explored by some
within the industry, although this is a typical representation of what an accountant will
do.
It is important that an accountant has impeccable standards when it comes to both
competence and behavior, as without them they’ll be unable to do their job correctly
and potentially harm their organization, certainly their own reputation, and perhaps
even the whole industry.
c. In GTECS (works of an Accountant):
i. Tallying the Accounts and passing it.
ii. Approving the official letters sent to the members and forwarding it
directly to the Dispatch section or to the Secretary for the approval.
iii. Maintenance of Scorral Book (Payments)

Page | 44
4. Cash Section:
This is the section of the organization where the cash flow takes place. This is
one of the most important section in the organization since the main process of the
organization takes place. The Cashier is the incharge of this section for maintaining all
the Receipts and Payments.
a. Duties and responsibilities of Cashier Job
As name suggest cashier is a person who deals with cash. There are many
organization like bank, schools, shops etc that deals with cash transactions. And this
are the places where there is a need of cashier. Cashier plays very important role in the
field of banking.
The job of cashier includes many things and it is job of accuracy. They have to
interact with customer on daily basis for solving queries, handling money etc.
Here are some job duties and responsibilities of cashier job:-
i. The first duty of cashier is to greet the customers entering into organization
ii. Handling all the cash transaction of an organization
iii. Receive payment by cash, cheques, credit card etc
iv. Checking daily cash accounts
v. Guiding and solving queries of customer
vi. Providing training and assistance to new joined cashier
vii. Maintaining monthly, weekly and daily report of transactions
These are some common responsibilities of cashier. And one more thing to
become a cashier he/she should be graduate in accounting and should have knowledge
of bank policies. He/she should be strong in mathematics and statistics. The skills
required for a cashier are communication, honesty, sincerity etc.

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b. In GTECS (works of a Cashier):
i. Dispersal of the cash payments
ii. Cheque payment for loan via cheque issue
iii. Preparation of ECS payment and send them to the respective bank
iv. Book to be maintained:
1. Take over and Make over
2. Chitta
3. Scorral Book (Receipts and Payments)
4. Coin ware
5. Dispatch Section:
Dispatch is a procedure for assigning employees (workers) or vehicles to
customers. Industries that dispatch include taxicabs, couriers, emergency services, as
well as home and commercial services such as maid services, plumbing, HVAC, pest
control and electricians.
With vehicle dispatching, clients are matched to vehicles according to the order
in which clients called and the proximity of vehicles to each client's pick-up location.
Telephone operators take calls from clients, then either enter the client's information
into a computer or write it down and give it to a dispatcher. In some cases, calls may
be assigned a priority by the call-taker. Priority calls may jump the queue of pending
calls. In the first scenario, a central computer then communicates with the mobile data
terminal located in each vehicle; in the second, the dispatcher communicates with the
driver of each vehicle via two-way radio.

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With home or commercial service dispatching, customers usually schedule
services in advance and the dispatching occurs the morning of the scheduled service.
Depending on the type of service, workers are dispatched individually or in teams of
two or more. Dispatchers have to coordinate worker availability, skill, travel time and
availability of parts. The skills required of a dispatcher are greatly enhanced with the
use of computer dispatching software
a. In GTECS (works of a Dispatcher):
i. Sale of forms to the members of the society
ii. Posting the official letters and the couriers to be sent from
the society
iii. Maintenance of the registers:
 Dispatch register
 Stamp note
6. Establishment Section:
This section in the society deals with the society's discipline and acts as the
discipline keeper of the society. This section ensures the company's staffs are working
under the rules and regulations of the society. This section takes actions on the staffs
and the officers if they do not abide by the rules and regulations of the company. This
section ha s the rights to punish the workers by giving memos or suspension for them
with a correct reason.
The Establishment clerks work as the inspectors and see to it the company runs in
the proper way and all the staffs are under the rules of the company.
The Typist works as the assistant for the establishment clerk in typing the official
orders passed by the higher authorities or the establishment clerks.

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7. Audit Section:
An audit is a systematic and independent examination of books, accounts,
statutory records, documents and vouchers of an organization to ascertain how far the
financial statements as well as non-financial disclosures present a true and fair view of
the concern. It also attempts to ensure that the books of accounts are properly
maintained by the concern as required by law. Auditing has become such a ubiquitous
phenomenon in the corporate and the public sector that academics started identifying
an "Audit Society". The auditor perceives and recognize the propositions before
him/her for examination, obtains evidence, evaluates the same and formulates an
opinion on the basis of his judgment which is communicated through his audit report.
Any subject matter may be audited. Audits provide third party assurance to
various stakeholders that the subject matter is free from material misstatement. The
term is most frequently applied to audits of the financial information relating to a legal
person. Other areas which are commonly audited include: secretarial & compliance
audit, internal controls, quality management, project management, water management,
and energy conservation.
As a result of an audit, stakeholders may effectively evaluate and improve the
effectiveness of risk management, control, and the governance process over the
subject matter.
In GTECS the Reconciliation clerks audits the monthly reports and the balance
sheet of the company. The clerk makes the recovery statement and the
subsidiary statement of the members of the society. The clerk makes the woks
of the loan section clerks for the posting of the ledger in the loan subsidiaries
and their recovery.

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8. Computer Section:
This section is the society's important department where the all the automation
of the entries and the society's details are updatedly mentioned in the company's
website. These are the responsibilities of the computer section clerk
i. Selection of Hardware/Software.
ii. Purchase of Hardware and Software for the society.
iii. Providing infrastructure for automation.
iv. Installation of Hardware/Software.
v. Provide In-service training for automation.
vi. Work relating to participation in network.
vii. Provide INTERNET and e-document services.
viii. Orientation to users for use of e-resource.
ix. To develop and maintain website & Portal for the society.
x. Digitization of resources.
xi. Maintenance of Hardware & Software.
xii. Creation and maintenance of data bases of the society's members.
xiii. Maintenance of statistics/record of the section.
xiv. Other works concerned with the section.
In this computer section the GTECS outsources the work of uploading the details of
the new members those who join the society.

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CHAPTER - IV
SUMMARY OF WORK DONE
Day Date DETAILS OF WORK DONE
1 13.05.2016 Theory classes:
 Introduction of the Institution
 History of the Institution
 Membership details
 Eligibility to be a member
 Rights of the members
 Types of membership
 Types of Loans Issued:
 Long Term Loan
 Mid Term Loan
 Short Term Loan
 Calculations of the interest for the loans issued
 Compulsory subscriptions collectedby the institution
from the members
 Thrift fund
 Family welfare Deposit scheme
 Sureity Relief Fund
2 14.05.2016 Theory classes:
 Departments / Sections in the office
 Reception
 Loan Section
 Accounting Section
 Cash Section
 Dispatch Section
 Reception

Page | 50
 Face to Face and Phone enquiries
 Loan Section
 Scrutinizing of Loan application
 Duties and Responsibilities
 Accountant
 Checking of Loan accounts
 Scorral Book maintenance
 Supervising official activities
 Cashier
 Issuing the cash payments
 Issuing of cheque
 Preparation of ECS payment and send
them to the respective bank.
 Books Maintained
 Take over and Make over
 Chitta
 Scorral Book
 Coin ware
 Secretary / Branch In - Charge
 Head of the Branch
 Passing authority
 Maintenance of Scroll Book
 Cask takeover / Make over
3 17.05.2016 Reception
 Face to Face and Phone enquiries
 Receiving Loan application
4 18.05.2016 Reception
 Receiving letters
 Maintaining register on received letters and

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application
5 19.05.2016 Loan Section
 Scrutinizing of Loan application
 Processingof Loan application
 Preparation of Demand Statement
 Calculating Interest to Loans
 Monthly Recovery Statement
 Funds Recovery Statement
 General Ledger Posting
 Adjustment Slip
11 27.05.2016 Cash Section
 Issuing the cash payments
 Issuing of cheque
 Preparation of ECS payment list
 Take over and Make over
 Chitta

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 Scorral Book
 Coin ware
15 02.06.2016 Accounting Section
 Ordinary Loan Subsidiary
 Computer Loan Subsidiary
 Festival Loan Subsidiary
 Educational Loan Subsidiary
 Jewel Loan Subsidiary
 Fixed Deposit
 Recurring Deposit
 Day Book
 Adjustments and other Payments
 Calculation of Loan amount
21 09.06.2016 Dispatch Section
 Postage
 Stamp note
22 10.06.2016 Dispatch Section
 Maintenance of Dispatch Register

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CHAPTER - V
CONCLUSION
The institutional training was helpful to acquire practical knowledge in the
functioning of a cooperative credit society. This has provided a wide knowledge about
the procedures carried out in the cooperative credit society. It was a great experience
and privilege to step into the real live cooperative credit society operations. It helped
me get the much needed practical knowledge about credit management.
The past months of my internship have been very instructive for me. The
GTECS.ltd has offered me opportunities to learn and develop myself in many areas. I
gained a lot of experience from the society. A lot of the tasks and activities that I have
worked on during my internship are familiar with what I’m studying at the moment. I
worked in many areas where I did different work. This gave me the chance to find out
which areas I want work in after my education
Before my internship started my ideas did not match the experiences that I had
gained during my internship. This internship was definitely an introduction to the
actual work field for me. I have learned to work in a organization and apply my
knowledge into practice. I learned a lot from the different interns that I have been
working with during my internship. Each intern had a different educational
background and that made it interesting for me. By working with them I got to learn
from them and become aware of educational background.
I enjoyed working in the GTECS.ltd. I learned a lot about the areas of the society
and the departments of it. Interning at The GTECS was definitely a learning
experience. This had helped me to understand the various departments and its
functions in the cooperative credit society. The best strategy to get the best inventory,
the traffic building technique and crowd control that I observed were impressive. I

Page | 54
understood about the hurdles in the operation of a cooperative credit society and how
to overcome it successfully.
This internship was definitely beneficial for me and I’m grateful and thankful that
I got to experience and learn many things.

The government telecommunication employees co operative society ltd

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