pudhuaaru kgfs newsletter issue vii

Volume No. I Issue No. VII

PUDHUAARU KGFS Newsletter

Pudhuaaru KGFS, II Floor, No.66/2999, No.1, Trichy Main Road, Thanjavur, Tamil Nadu-613 007

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”

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

One of our Alakudi branch customers, Smt.V.Umarani aged 33, a daily wage labourer met with an accident on 24th of Sept. The fire accident occurred on the evening of 24th September around 08.30 pm while she was cooking. Accord-ing to initial reports, she was using a kerosene stove and a leakage occurred while filling in kerosene, leading to a fire outburst. She was immediately rushed to the Government hospital in Thanjavur and she underwent treatment for two days. The treatment was not successful and was declared dead on the evening of 26th September. She is survived by her husband, Sri.Veemaraj, who 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).

The branch was informed of her death on 29.09.09. The duly filled in claim form and a copy of FIR were submitted on Monday(12.10.09). A delay in the submission of post-mortem report de-railed the timeliness, albeit slightly. The claim was adjudicated on 17.11.09 and the cheque was received on 3.12.09 This is a clear case where a higher sum insured could make a bigger impact to the household especially considering the fact that a steady source of income brought in by Smt.V.Umarani is now no more. A better sum would have ensured for better future plans of the five little children.

First case of personal accident claim at Alakudi

In order to understand and have clarity on the financial position of household, 4 WMs of Pudhuaaru KGFS (Ramalingam, Rajasekar, Rajkumar and Govindaraj) were provided with a standard script.

WM Script Implementation

ramping up this across all branches including better understanding of all aspects of Wealth Management. He along with Bharathi of training team conducted training for 32 Wealth Managers on 14th November 2009.

Pudhuaaru KGFS

Induction training at PKGFS and the new standard script for WMs

At PKGFS this year 4 batches of Induction Training have been conducted for the newly recruited WMs. We have been adding value by including sessions like ‘A day in the life of a WM’ wherein a WM from a branch is called to narrate what all he does and what all happens in the branch & in the service area. The session after ‘Branch Attach-ment’ is very lively as the WMs get to see what is actually happening at the branch after they learn about products and processes in the theory ses-sions. Also the 3 case studies we are discussing during the training is to give a clear insight into cash flow and understanding the impact of our products in improving the financial well being of the household. We have recently piloted the standard script at two branches involving 3 Wealth Managers (Ramalingam, Govindaraj and Rajasekar) who have been in the system for over an year. The IFMR Rural Finance Training team handheld them for 2 weeks in order to have a proper flow of conversa-tion with the villagers The standard script which is mission aligned, is drafted in such a way to essen-tially make the WMs understand that our dialogue with the villagers should reflect our concern for the financial well being. The WMs start off with introducing PKGFS and a brief introduction as to how Pudhuaaru KGFS has progressed. Thereafter we seek permission from the villager for asking a few questions. 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 pursue any income generating activity

Also we extend loans for income generating activ-ity as well for paying off high cost debts. In all these the WMs convey the message that the surplus the villagers get out of income generating activity or by paying off high cost loans can be invested in our savings scheme (MMMF). The WMs also intimate the villagers the details of our enrollment process and how easy it is & simple. The WMs intimate the villagers that in tune with our mission we shall ensure that every household is enrolled in Pudhuaaru KGFS. The WMs are trained to show immense patience and commit-ment during the entire conversation to demon-strate to the villagers that we are here to achieve our mission and we will take all necessary steps in this direction. The WMs give feedbacks on the positives as well as concerns raised by the villagers. This standard script is discussed in the training ses-sions as well. We have been intimating the WMs that they are in fact ‘financial doctors’ prescribing appropriate products to each household and for this it is essential to capture household informa-tion in Customer Management System (CMS) as correctly as possible. The importance of CMS is clearly explained to the trainees. Going forward using tools like FELIH (Financial Engineering for Low Income Household) , Wealth Index and Safety Index, we are planning to empower the WMs to prescribe appropriate Financial Products to each household.

PKGFS Wealth managers, who are implementing Wealth Managers Standard Script across the branches of PKGFS.

Vol. 1 Issue. VII


Pudhuaaru KGFS

WMs practicing the new standard script on field

Vol. 1 Issue. VII



PKGFS @ a glance Snapshots of the numbers for the months of Nov & Dec 2009 will be released in January 2010

Total Enrollments as on 31st Oct 2009: 22,421

Total Enrollments In October 2009: 2,876

High Enrollments in Branches

Paruthiyappar Kovil: 362

Umayalpuram: 263

Varagur: 219

Total no. of PAI policies issued: 1,884

Total no. of MMMF New Customers: 1,844

MMMF Investments sum total (Rs): 11,42,425

Products Amount

JLG Loan 380.60

Jewel Loan 133.37

Retailer Loan 1.60

Individual Loan

Livestock Insurance Loan 0.02

Premises Loan

School Loan

Grand Total 515.59

Product Wise Disbursements (in lakhs)


PKGFS in October ‘09

Total number of branches: 34 Number of branches opened in the last 5 months: 19

Snapshots - New Branches


Pudhuaaru KGFS - Getting ready for expansion

Pudhuaaru has planned to scale up their 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-ling) who is one of the four Certified Trainers in India for Louis Allen International, U.S.A. a reputed Training and Development Organization. The training focused on leadership, feedback, problem solving abilities and team building which will result in improving organisational efficiency. The COO, RM, ARMs, IT manager, HR manager, Training manager and some identified WMs participated in the two day program. Participants were taken through each of the important concepts using games and this kept the participants engrossed

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 and covered in detail how to coach/mentor.

All the above were intertwined with exercises and group activities, which made the training very ab-sorbing & exciting. All the participants said that they were immensely benefitted and suggested that similar program be organized for the larger group and cover WMs as well. The training session concluded with Chandrachudan and Gurunath talking to the participants and stressing the importance of ensuring that the takeaways are implemented in their daily routine, which every-one wholeheartedly assured. All the participants 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 PKGFS have conducted competitions on submission of case studies for 3 batches of WMs as a part of the induction process. One conducted in the first week and two conducted in the third week. Besides this, a competition was conducted for the existing WMs on the similar lines as well. The first case was aimed at understanding the rural household and was helpful in enabling the WMs to understand the method and the necessity of collecting information. The WMs were able to understand and appreciate the importance of assets / liabilities / income / expenditure etc. The objective of the second case was to introduce the WMs to risk and also understand from them, the consequences that can arise given the situation in hand or any likely unforeseen happenings.

The third case touched upon the cash flows in operations and how to manage it. It also explains the necessity to look into the income and expendi-ture and also the assets and liabilities and thereby judging the capacity to repay the loan obtained. The end result of the case studies were to come up with a suitable product that would satisfy the customer, given his requirements. WINNERS (In order of merit) Among the existing WMs: Ramalingam, Jothimani and Shanti K As a part of Induction: Batch II: Manokaran M, Karthik C Batch III: Prema G, Anbumani R 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.

We love to hear from you ... Write to us at

[email protected]


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http://www.flickr.com/groups/ifmr To know about the latest happenings at PKGFS on an up to date basis, Follow PKGFS @ Facebook:

http://www.facebook.com/group.php?gid=90982374640

pudhuaaru kgfs newsletter issue vii

Documents

pudhuaaru kgfsvol

wms of better understanding

accident of fir

pudhuaaru ceogurunath

new standard script

theusage of standard

wm script implementation

batches of induction