pkgfs newsletter - vol i , issue 6 - june \'09

$: PKGFS Newsletter - Vol I , Issue 6 - June \'09$
Volume No.1 Issue No.6

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. 6

Learnings from the field … Awareness levels of existing and potential customers

Duraisamy, Karambayam - A potential customer

Duraisamy lives with his mother, wife and 2 sons aged 4 and 2 respectively. His only source of income is from farming. He grows paddy/groundnut/dal/coconut in his farm. His wife is a PKGFS member and has availed a JLG loan. He is aware of jewel loans and JLG loans but is not aware of other services offered at PKGFS. Currently he does not have any additional need but in future he wants to make his children study well, so he wants to start saving for it. He is happy with the service of PKGFS to his wife and feels that JLGs are not a problem for him. He is aware that customer enrollment can be done free of charge but since he does not have any additional need, he does not want to enroll. Implications: Here is a potential customer who wants to save but is not fully aware of the products that are being offered at Karambayam

Rasathi - An existing customer

Rasathi lives with her daughter, son-in-law and 2 grandchildren aged 5 and 3. She is the breadwin-ner of the family. She works in fields as a laborer and does household chores for some people. Her son-in-law who has studied till Class 12 is trying to find a job abroad. They live in their own house - a thatched house - and Rasathi is planning to build a better house. She has been a PKGFS customer for almost a year and has availed JLG loan and jewel loan. She has not taken accident insurance. She is aware of all the products and services of-fered by PKGFS. She wants to have a higher credit limit so that it will help her to send her son-in-law abroad. She also borrows from local money lenders at 36-48% for big amounts. Implications: Rasathi is also into borrowing money from local lenders. Rasathi is the sole breadwinner and DOES NOT have the accident cover.

I feel that weekly installments are good

An organization which gives loans to women in JLGs

I don’t feel that I’m paying a substantial amount

It would be great if PKGFS conducts some workshop on career options in our village

I relate PKGFS to JLG and Jewel Loans. Is there any other services offered

I would like to have a higher loan limit than the currently set ceiling

I don’t know that enrollment process can be done free of charge

It also brings in a sense of responsibility in me

I can’t go and register to an unknown person in office

Other Customer and Non Customer One-liners

Sunitha Paithankar, an intern from IFMR, Chennai carried out a customer satisfaction study for PKGFS as a part of her internship. This article is based on the findings from her study

OUR MISSION

“To maximize financial well being of every individual and every enterprise by providing complete financial services in remote rural Thanjavur and Thiruvarur”

Creating much more awareness about the other products besides JLG and Jewel loan is necessary - described not only by Duraiswamy, but also many others. Furthermore, understanding in detail through ethnographic studies provides for better understanding of the customers and their needs and also provides space for new product ideas and development.



The study was a quantitative research that lasted for more than a couple of months in-volving as many as 252 respondents (customers and non customers) – both at the branches and the villages in the service areas.

The study focused on the awareness of the products offered by PKGFS, the degree of responsiveness of WMs to customer queries, the waiting time at the branches and product/service awareness and requirements of customers.

Please find below the findings in a tabular form.

95.00

117.00

40.000.00

Excellent Very Good Satisfactory Unsatisfactory

Questions Count of YES Count of NO Some

Are you aware of all the Products of KGFS ? 145 20 87

Were your queries answered properly by the WMs ? 252 0 0

Are you made to wait for a long time at the branch ? 8 213 31

Recommend KGFS to neighbor ? 244 1 7

Avail new KGFS facilities again ? 239 0 13

Experience with Pudhuaaru KGFS

239

152

3

217

0

50

100

150

200

250

300

JLG Jewel Loan MMMF PAI

Services availed @ Pudhuaaru KGFS



Happy Birthday Pudhuaaru KGFS

One year after the first branch of PKGFS was launched, we have attempted to come up with a write-up that showcases KGFS’ dedication to its mission and its contribution to inclusive growth.

1st June 2008, Karambayam Branch

A week long celebration - June 2009

On 1st June '09 Pudhuaaru KGFS stepped into its second year of operations. The first anniver-sary celebrations held from 1st to 6th June 09 started off by greeting the customers with sweets when they walked into the Karambayam branch (1st branch of PKGFS). The anniversary celebrations continued by in-volving the local community and conducting drawing competitions at four panchayat union primary schools around Karambayam branch on 4th & 5th June ‘09. The competition saw as many as 400 primary school students from the rural community participate enthusiastically. The bubbling school children who stood out with their drawings were awarded school-bags & certificates and all students were given a pencil, eraser, sharpener & Crayons.

In this issue, we have focused on the first Anniversary celebrations at our Karambayam branch and attempted to get a brief insight on how PKGFS has transformed the lives of our WMs and more importantly the customers

The Prizes were distributed by the Wealth Managers (WMs) of Karambayam branch, in the presence of the School Principals, Teachers & PKGFS team. On 6th June '09, a celebration was specially organized for the PKGFS employees wherein the first five employees of PKGFS were felicitated. This celebration had all employees assembling at a marriage hall located close to the head office of PKGFS @ Tanjore. The celebrations be-gan with a sumptuous lunch, followed by a wel-come address by the CEO. The afternoon then saw a lot of events, games and loads of fun. One of the Wealth Managers Suresh (Black Belt) exhibited his talent in Karate by performing some extraordinary stunts along with his students.

Customers queue up the Karambayam branch on the day of inauguration of

KGFS’ first branch at Thanjavur

The people who took all the effort in setting up this first branch of KGFS at

Karambayam, Thanjavur



One year of hard work, One year of empowerment, One year of pride & One year of fun ...



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1057836

13481569

721

10541267

2026

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Enrollments at Pudhuaaru - Month on Month

PKGFS @ a glance

Total Enrollments

2733

526 789

1590

10121296

1685

48270

12525

17160

46695

32110

43910

64850

0

10000

20000

30000

40000

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60000

70000

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Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09

No.of Insurance Policies Insurance Premium

Third Party Product- Insurance

Koonancheri 836

Puducherry 1116

Melanamedu 957

Pudupatti 791

Orathur 919

Varagur 736

Thondarampattu 486

Pudhuaaru Total 14426

Branch Enrollments

Karambayam 1114

SanjayNagar 1033

Natuchalai 926

Udayasuriapuram 1049

Thittakudi 779

Ananthagopalapuram 909

Alakudi 1035

Devanancheri 1740



IFMR Rural Finance lending a hand to SEWA

Very recently, IFMR Rural Finance embarked on a knowledge sharing session and under-took for the first time a training program for SEWA Gram Mahila Haat, an external group from Gujarat, about KGFS at the Pudhuaaru KGFS Head Office. Incase if you are wondering who or what is SEWA, please read through; SEWA is a trade union registered in 1972. These are women who earn a living through their own labor or small businesses. They are the unprotected labor force of our country. SEWA’s main goals are to organize women workers for full employment. SEWA organizes women to be self reliant and by self-reliance they mean that women should be autono-mous and self-reliant, individually and collectively, both economically and in terms of their decision-making ability. For more info: visit (www.sewa.org) The training which lasted for 2 weeks was provided in Hindi and covered topics on the KGFS business model. The focus was mainly on the mission and operations strategy in pur-suit of the former, the organization structure, the HR policies along with a small talk on the exclusive training and development practices

the products, processes and technology involved. Furthermore, the visiting team was shown a live demonstration at the Model branch, on how things work at the local branches thus enabling them to get a first-hand feel at the grassroots level. Inspired by the learnings and with keenness about KGFS only increasing by the day, the visiting team returned to Gujarat with a resolve to share the knowledge and experi-ence they had gained with their team. The training was provided by Chandrachudan V, Kanak and Arun Vats.



Leading from the front

Mr. Balaji C COO, Pudhuaaru KGFS

“I am a Commerce graduate from University Of Calcutta. I worked briefly in a textile unit before joining City Union Bank (hereon re-ferred as CUB) in the year 1992.

The Pudhuaaru KGFS Team

Coming up ... In the next issue ... PKGFS Grows - A special focus on the new branches opened and the proposed expansion. Recruitment, Training and Development in full swing - A process study. Standardization - Short term objective for a long term dream run. A branch story - Karambayam. One year of change - Discussions with the first set of customers. and much more ...

I have worked in 4 branches of the bank, in-cluding the challenging International Banking Division. My primary experience is in Retail operations covering all areas of branch banking. When CUB implemented Core Banking solution, I was entrusted with overseeing the work in our branch and the entire operations was carried out smoothly. My last assignment was as second in charge of Tiruppur branch one of the major revenue generating branches of CUB.”

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pkgfs newsletter - vol i , issue 6 - june \'09

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