Pudhuaaru KGFS Newsletter Issue VII

Volume No. I Issue No. VII

PUDHUAARU KGFS Newsletter

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


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.



WMs practicing the new standard script on field



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 - 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.



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 Newsletter Issue VII

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