october 2016 - shriramcity.commail.shriramcity.com/upload/breeze_oct_2016.pdf · shriram...

Shriram City—News Letter - Breeze- 1st October 2016

Shriram City “Breeze” Committee wishes its readers and all your family members on the occasion of

Mahatma Gandhi Jayanti,Dussehra, Muharram,Diwali

First they ignore you, then laugh at you, then they fight you, then you win. –Mahatma Gandhi

OCTOBER 2016


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It gives us pleasure to present a recent article contributed by our Executive Director and CFO Ms. Subhasri Sriram, to CFO Forum - an apex body of India’s top 500 CFOs across PSUs, Private sector & MNCs and a thought leadership, knowledge sharing & engagement platform for business leaders, policymakers, academia etc. Women led MSMEs are in the rise

It is now an acknowledged fact that India’s economy is largely driven by its Micro, Small and Medium Enterprise (MSME) sector. Ninety five percent of all industrial units in the country comprises MSMEs which contribute to 45% of the country’s manufacturing output, 40% of its exports and

17% of the GDP. In the process, MSMEs offer employment to 60 crore people, making the sector the second largest employer, next only to agriculture. MSMEs in the country, num-bering around 2.60 crore units, are thus major growth drivers of the economy. An important subtext of these statistics is that a significant number of these MSMEs are owned or managed by women entrepreneurs. While there are several social, cultural and economic reasons for women to take to business, it has been proven repeatedly that women make natural entrepreneurs, especially in the MSME sector. The MSME space allows women to build and maintain small enterprises while working from home. The number of women in India’s workforce, while rising, is still far lower than that of men. The Central Statistical Organization reported in 2011 that overall, 25.51% women participated in the workforce versus 53.26% men. Within this, rural India saw a higher participation (30.02%) by women who contributed to their families’ earnings than in urban areas (15%). These figures indicate that the headroom for more women to join the workforce – especially as small business owners – is immense. A shift in the structure of entrepreneurship by women is also becoming evident. Entrepreneurial activity amongst women is gradually gathering strength in urban areas after originating in the Self Help Group model which was fostered for the most part by Microfinance Institutions in rural India. Urban entrepreneurship by women can most commonly be seen in businesses such as beauty parlours, hairdressing salons, fashion designing, operating boutiques, tailoring and catering besides being present in large numbers in the retail consumer business. These businesses in turn provide employment to other women, many of whom have the potential to branch out as entrepreneurs themselves someday. In an environment that is gradually becoming conducive for entrepreneurship, it is women from economically weaker sections who have chosen to follow entrepreneurship

Ms. Subhasri Sriram. Executive Director & CFO Shriram City Union Finance Ltd.

“Women are the real architects

of our Society” Most Solutions Made Easy (MSME)


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mainly as a poverty alleviation tool. Without an option of not being an earning member of the family and an option of entering organised employment being limited, entrepreneurship has been the natural choice. On the same note, women from higher echelons of the society are entering into family run businesses mainly on account of absence of male heirs. Like the middle of the pyramid, which is the most vibrant with high growth potential, women from the bourgeois of the society, are seeking various avenues to increase their family earnings without having to move out of their homes on account of not having dependable support systems. It is in this space that we expect to see a silent revolution. Aiding this change is the phenomenal increase seen in the usage of smart phones as a platform for product advertising. Completely unnoticed, marketing is being carried out and wares are being showcased without expensive showrooms! E-commerce is no more limited to large players. A more interesting development that is seen is that women entrepreneurship is now equally visible both in manufacturing and trading businesses. From low end service activities like beauty parlours and domestic catering, it has moved to industrial segments like automobile, textile, packaging, printing, etc. To conclude, women from both urban and semi urban locations that are currently not part of the organised sector are moving towards economic independence by choosing to be self-employed. When it comes to providing finance to these small businesses, be it manned by men or women, the challenge is first to overcome the bias towards asset back lending and move towards cash-flow based lending. Women entrepreneurs of course face several challenges in attempting to build and own profitable small businesses. Primary among these is the restricted access to funding, with the additional challenge of women not owning assets in their name to be able to leverage it for financing. Other difficulties include lack of information and/or training to scale up their business, the inability to access larger markets and restricted mobility. The Government seeks to alleviate these problems through initiatives on several fronts – commercial banks and financial institutions like SIDBI offer funding options to women entrepreneurs on terms softer than normal commercial ones. The Ministry for Micro, Small and Medium Enterprises, the Confederation of Indian Industries, SIDBI, NABARD and several banks and NGOs conduct Executive Development Programs for women business owners. To supplement the aforementioned initiatives, it is important to encourage women to save and retain their savings in their personal names. Financial intermediaries on their part have to come out of their comfort zone of secured lending and relying on proven business track record and actively encourage women entrepreneurs to progress in their chosen venture by providing timely financial support purely based on cash-flows.


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Yamaha

announces

national

retail

finance

partnership

with

Shriram City

We have signed a MoU with Yamaha

(India Yamaha Motor Pvt Ltd.).

Yamaha has proudly announced Shriram City as their “Preferred Financier” . The information has already been communicated by them to all their dealers. The national retail finance partnership that comes into effect from17/09/2016, it provides financing options for salaried & self-employed individuals. Key benefits comprise of features like attractive interest rates, simple documentation process, customized repayment options, repayment tenure of up to 36 months, personalized services and pan India network. Through this tie-up, we can penetrate to all Yamaha dealers and thus scale up our two wheeler business volumes. The MoU has been signed by our COO Shri Y.S.Chakravarti and Mr. Roy Kurian Vice President – Yamaha..

Commenting on the tie-up, Mr Y. S. Chakravarti said the company aims to

reach 1 lakh vehicles per month

Commenting on the tie-up, Mr Roy Kurian said that Customers can also avail the offer through easy EMIs. Therefore, this festive season of Diwali , Customers can have a hassle free buying. Through an extensive reach of more than 1000 branches spread across India, Shriram City’s retail finance will help many people realize the Dream of owning a Yamaha vehicle.

Contributed by Mr.C. Lakshminarayanan & Mr.T.A. Gopinath


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Nagpur Branch

(Amravati Road)

Contributed by: KIRTIKUMAR R.YAWALE Amravati Road, Nagpur

Contributed by: SUNNY NAIR, Asst Manager, Mumbai Branch

2016 Ganesh Chaturthi

Celebrations at our offices

Belapur Branch CPU

It was a 2 ½ Day Ganesh Chaturthi

Celebration, where all the Employees actively

contributed in all activities.

Pooja were performed, Prasad Distribution

and at last day Bhojan (Prasad) was kept for

all devotees.


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GUIDE TO OFFICE ETIQUETTE

IT’S NOT FUNNY Emails | Do not flood inboxes by hitting “reply all”. Avoid sending emails when upset. Pick up the phone instead. Include ‘please’ / ‘Thank You’ Mobiles | In Whatsapp, use a formal picture. Do not forward inappropriate jokes/videos. Avoid ‘Speaker’ for Personal Calls in office. Do not use Crazy ring tones

NOT OPEN FOR BUSINESS Time Zones | Manage calls to Clients in late evenings, not late nights Odd hours | Do not call or expect emails at odd hours/on off days

MEETING’S STARTED Not being Punctual | This shows lack of respect, along with not informing/apologizing for being late and expecting participants to repeat what you missed. Doodling | Doodling with paper/Smartphone, not contributing to discussion shows that you are distracted.

PICK THAT CUP UP After Meetings | Do not leave meeting rooms messy Nuisance | Do not invade personal space with noise/odours, or chatter or visit each other’s workstation constantly

Contributed by Mr.Sanker .R , AVP , Chennai


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UNTANGLING THE WEB

SAFER SURFING WITH BETTER DNS –

CHANGE YOUR DNS for Security Online

It was a strange internet problem I was facing. A little bit of investigating later. I discovered that the problem was with the BSNL DNS gateways at Hyderabad. When I was trying to browse the WEB, I was redirected to a phishing website

I fixed the problem by going into the Wi-Fi router and changing the DNS settings and now I am surfing happy with no strange happening that I have heard of. Just a quick refresher on DNS. DNS refers to Domain Name System. It is like a Telephone directory for the internet. DNS tells your browser that a seemingly random string of numbers like 127.0.0.1 (actually refer to Shriram City Union Finance Ltd). DNS is what translates the machine language that the Internet operates on into human language that can un-derstand and use. It is also interesting to note that DNS that could also affect your online security. This is something that is very easy to overlook because it seems so technical, at which point most people’s eyeballs glaze over. It is actually quite easy, as long as you follow some simple instructions Changing your DNS will save you from facing issue like I did (along with many others), Apart from making your browser more reliable and secure, changing the DNS setting on your Internet router can also make your browsing noticeably faster and let you filter unwanted Internet content. To change the DNS setting in your router, all you need to do is login to the router, navigate to the area that has the DNS information and make the change. Your router’s manual will show you exactly how to change your DNS settings. A quick Web search with model name and number will give you a PDF version of the manual, in case you have lost it. Now that you know how to change the DNS, you need to decide what DNS to use. There are a couple of choices out there, both with are definitely better that the DNS that most ISPs use by default. Open DNS and Google Public DNS. Google’s public DNS service is probably the easiest to configure. Using it also appreciable speeds up your browsing, especially if you are moving from your ISPs default DNS. Open DNS offers a free and a paid for service. The free service is great and will provide more than enough features for most people. If you use Open DNS, you can filter Web traffic right at the router, Black list certain sites and much more. It just gives you lot of control over surfing I highly recommend visiting both the Google and Open DNS websites to check out what moving away from the default DNS your ISP provides can do for you - Believe me, you won’t regret.

Article Courtesy: THE HINDU Contributed by Mr.Sanker .R , AVP , Chennai


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KNOW YOUR CUSTOMER ( KYC ) NORM - COMPLIANCE As part of compliance with regards to know your customer norm, we have been obtaining the prescribed documents in line with RBI guidelines. What is OVD in KYC ?

(ref: RBI/DBR/2015-16/18 Master Direction DBR.AML.BC.No.81/14.01.001/2015-16 dt February 25, 2016) “Officially valid document” (OVD) means the passport, the driving license, the Permanent Account Number (PAN) Card, the Voter's Identity Card issued by the Election Commission of India, job card issued by NREGA duly signed by an officer of the State Government, letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number. Explanation: Customers, at their option, shall submit one of the six OVDs for proof of identity and proof of address. ‘Simplified measures’ are applied for verifying the identity of the customers and the following documents shall be deemed to be OVD: 1. identity card with applicant’s photograph issued by Central/ State Government Departments, Statutory/ Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions; 2. Letter issued by a Gazetted officer, with a duly attested photograph of the person. Provided further that where ‘simplified measures’ are applied for verifying, for the limited purpose of, proof of address the following additional documents are deemed to be OVDs :

1. Utility bill, which is not more than two months old, of any service provider (electricity, tele phone, post-paid mobile phone, piped gas, water bill); 2. Property or Municipal Tax receipt; 3. Bank account or Post Office savings bank account statement; 4. Pension or family Pension Payment Orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address; 5. Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation; and 6. Documents issued by Government departments of foreign jurisdictions or letter issued by Foreign Embassy or Mission in India.

Regarding AADHAAR Card as OVD. Unique Identification Authority of India is taking all out efforts to issue Unique identification recognition to every citizen of the country through Aadhaar card and the steps are in process. Most of the Public and Private entities including Banks and Financial institutes have started seeking Aadhaar card details of each customer as part of their due diligence before the commencement of business relationship with them . Hence, to fall in line with the system, it is necessary for us also to have the customers’ Aadhaar card details while entertaining credit application from the customers Having Aadhaar card details as a single reference point for all the customers would help us to a great extent in proper de-duping done before lending. Hence, it is desired to seek the copy of Aadhaar Card from the prospective loan applicants on and from 1st Oct. 2016 along with the prescribed other documents in this behalf. However, if the customer had already enrolled for Aadhaar and is awaiting the receipt of the card, copy of the acknowledgement for registration of Aadhaar may be taken while entertaining the proposal for loan from the respective applicant. Thereafter ensure that the copy of the Aadhaar Card from such applicant is obtained and recorded. Let us collect all the other documents such as copy of Driving License, copy of PAN card, copy of Passport etc., after due verification of the original documents, and also the copy of Aadhaar Card wherever it is available from 1st Oct’2016 while entertaining the credit proposal from the applicant. All the concerned executives are requested to understand the spirit behind the above information and are advised for me-ticulous compliance of the same without any room for complaints.

- CREDIT DEPARTMENT , HO CHENNAI


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DYKS – OCTOBER 2016

Rules of DYKS

The details and rules of the Do You Know Series are as follows:

Each issue will contain 3 multiple answer questions

All replies to be sent to [email protected] only

The mails should be sent from the official mail ID of the employee.

The response mail should be as follows;

State wise correct response to quiz in September 2016 Issue

State wise 1st correct response to quiz in September 2016 Issue

SN

o

State Number of Responses

1 Tamil Nadu 5

SN

o

State Number of Responses

1 Tamil Nadu Ms. Shyamala, Devi. K

The name of the employee from each state and from whom the first

correct response comes will be published in the subsequent issue

of ‘Breeze’.

SNo Required Information Employee Entry/ Answer

to Quiz

1 Employee Name

2 Employee Number

3 Designation

4 Email ID

5 Branch code and name

6 State

7 Answers:1

2

3


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1. The main function of I.M.F is to

2. The maximum amount of the total revenue earned by the

Government of India comes from

3. The most powerful tool used by the Reserve Bank

of India to control inflation is to

DYKS – October 2016

SNo Question Answer

1 When the loans are NOT REPAID in time, it is called

A. Credit Risk

2 Value added tax (VAT) is a type of tax levied on value added by any economic activity, and covers :

E. Commodities and services at the manu-facturing, wholesaling, and retailing levels

3 NIXI stands for :

B. National Internet Exchange of India

Answers to Quiz of September 2016 issue


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Editorial Committee

Shri K.Subramaniam

CO, Mylapore

Smt M.Subhashree

BSC, Santhome

Shri M.Radhakrishnan

BSC, Santhome

Shri N.R. Sivakumar

SFPS,Santhome

Communication Address:

Editorial Committee, (News Letter—Breeze)

Shriram City Union Finance

144, Santhome High Road, Chennai—600 004

Phone: 044 43925300

Email: [email protected]

Help your friend in his problem without invitation..

but

do not go to your friend when in happiness without invitation

Golden words from Shakespeare