1. Introduction:
Xelvona branch (7232) was soft opened on 18/03/2014 as per the RBI directive of
opening branches in extremely rural (Tier-VI), unbanked areas. The cluster of villages
(3 no.), which encompasses the service area of the branch, altogether has a population
of 1500-2000 people, most of whom stay outside in suburban cities.
Locality: The branch is located in the Xelvona village, on a highway connecting
Margao to Curchorem, approximately 4-5 kms away from Curchorem town. The
nearest branch is Curchorem (7203).
Business and Economy: The entire local community was dependent on mining as its
primary income generating source. However with the ongoing mining ban in Goa, the
economy of the village and nearby town has come to a standstill. There is no
alternative source of income of the people as there is practically no agriculture or any
other allied activity in the village.
The progress of the Branch: After the branch was soft opened in the month of March
2014, the services were started from Curchorem branch, as the construction of the
premises were still going on. However in the month of July 2014 by continuing perusal
of the landlord, the premises was occupied, still with no IT and hardware. It was only
in the mid July that the branch began operations in its own premises.
The Astronomical Growth of Business:
Beginning in a small village was difficult, more so with the lack of resources available.
But after the initial hiccups, a detailed plan was made to focus on the growth of the
business and the journey has been an exciting and a rewarding one for the branch as
well as for the region. Here are the brief summary points of why we are a suitable
candidate to be christened as the star branch and how we achieved so much in so
little time.
Know Your Customers: For us, it wasn’t taking photocopies of ID and address proof.
For us it was all about knowing the customers personally. To achieve this, we visited
the Xelvona Panchayat, met the Sarpanch Mr. Sukas Dessai and started networking
aggressively from Day 1 itself. After gaining the trust of the Panchayat, we went ahead
and personally visited each and every household in all the three villages and made the
DATABASE of every person residing in the village. So presumably we now know each
and every household and have the complete database of people in our service area so
that as and when we have any function or campaign, we can invite everyone without
any hassle.
PMJDY: The launch of PMJDY fueled our progress. With ferocious campaigning
throughout the villages and holding more than 5 campaigns in 1 week, we garnered
the maximum no of PMJDY accounts in the PANAJI region, opening more than 400
2. accounts in a single campaign week and over 500 accounts during the campaign
month. The figure has now crossed 600. We were the first branch in PANAJI region to
cover 100% households under PMJDY and were invited to attend the function
organized by the Lead Bank at Margao.
Credit Cards:To diversify our business portfolio, we sought issuing of credit cards to
the eligible persons. In order to make this happen, we shifted our focus to Curchorem
town and checked out the people with the best financials having trustworthy banking
relationship with our Curchorem branch. To our sheer pleasure, we got the data of the
Govt. High School teachers maintaining salary accounts in our Curchorem branch. A
Eureka moment! We approached each and every teacher having a swanky SB account
and the result, 8 credit cards and a total exposure of 4,80,000/- in just 4 months.
(Not bad for an FI branch in existence for less than 6 months).
Self Help Groups: Now that we had database of all the women in the village, the
women were invited to open their SHG accounts in our bank. Now we have 3 women
SHG comprising of more than 40 women, in the village having the motivation of doing
something entrepreneurial. A successful REEP day on 11/11/2014 was organized for
them. (Report attached)
Official Language: With the help of PramukhIndi software, all our written
correspondence is done bilingually. (Sample letter attached)
Media Relations: Articles on various activities undertaken by the branch have been
regularly reported in both national and regional newspapers. Thanks to the literary
interest and Public Relations of the branch staff. (Newspaper reports attached)
Growth in Business: Business has grown manifolds since the branch opened in
March 2014. Deposits grew by 5673% (205.90 Lakhs as on 21/11/2014 as against
3.63 Lakhs on 31/03/2014). Advances have grown by 435% from 30th Sept 2014 to
20th Nov 2014. ATM hits have been up and daily withdrawals average out to be 85000
– 95000/- per day.
Branch Manager Profile:
Manish Petwal, Emp No 598536,27 Yrs, B-tech I class (Applied Petroleum Engg.), CFA
Level I candidate, CAIIB (1st Attempt Nov-Dec 2014), JAIIB (1st Attempt May 2014, 68%
aggregate), NISM series VI certified(75% aggregate), IIM Bangalore 2014 admit
(Declined admission offer).
3. From: To
Syndicate Bank The General Manager
Xelvona Branch Innovation Group
Plot No 18, House No 246/1 Planning and Development
Xelvona Dodyal Corporate Office
GOA Bangalore
Dear Sir,
Ref: HO Cir No. 389-2014-BC-P&D-126 dated 21-11-2014
With reference to above, we undertake to perform as per the guidelines under “STAR
BRANCH” scheme as per the above circular.
Our Branch present position is as follows:
1. Name of the Branch: Xelvona
2. BIC: 7232
3. Date of opening the Branch: 19/03/2014
4. Category: Financial Inclusion (Rural, Tier VI)
5. Region: PANAJI
6. FGMO: Mumbai
7. Business figures as on 30.09.2014: 171 Lakhs (215.9 Lakhs as on 21.11.2014)
Category (Figures in Lakhs)
Deposits Target Allotted: 0.00
Actuals : 168.6 (205.9 as on 21/11/2014)
CASA Deposits Target Allotted: 0.00
Actuals: 40.22
Advances Target Allotted:0.00
Actuals: 2.34 (10.05 as on 20/11/2014)
Performance under other areas Disbursement under SKCC/Retail MSME loans
from 01.04.2014 to 30.09.2014
Number: 2( 9 as on 20/11/2014)
Amount: 6.00 (11.25 as on 20/11/2014)
4. 8. Staff position as on 22/11/2014:
a) Officers including Branch head: 1
b) Workmen staff: 1
9. Condition of Branch Ambience: To say that the branch is nice and tidy would
be unfair on our part. To explain the same in 1000 words, pictures attached in
the end might be observed. Palm plants provide a cheerful atmosphere in the
branch and ATM room. ATM room is kept fragrant using room freshener sprays
twice a day. A collage of the pictures of branch achievements hangs beautifully
on the wall just next to the door so that each customer/executive visiting the
branch may glance at the hard work the branch staff has done to bring this
newly opened branch at par. Xelvona might be the first branch, not only of
Syndicate Bank but of all other banks where people (Including the Manager and
the Staff) voluntarily leave their footwear outside before entering in the
premises. And the best part is that the customers happily follow it.
Yours Faithfully
Branch Head
