A PROJECT REPORT ON

Study Of FICCL Used Car Market In Jaipur And Feedback & Opportunities Of FICCL Visavi Competition

Submitted in partial fulfillment for the Award of degree of

Master of Business Administration

Submitted By: Hemant Kumar Birla MBA Semester II

Submitted To: Ms. Tripti Bisawa

International School of Informatics and Management, Jaipur

2010-2012

INDEX

Sr. No.

Particulars

1. Overview 2. Company Profile 3. Customer 4. Competitors 5. SWOT

OVERVIEW
Fullerton India Credit Company Limited is one of Indias leading Non-Banking Finance Companies (NBFC). Fullerton Indias mission is to bridge the gap between inclusion and access to financial services in the mass market segment. It strives to realising this mission by widening its network and reach in the country and designing products and services that would fulfill the needs and aspirations of the mass market in India. Fullerton India is a subsidiary of Fullerton Financial Holdings Pte. Ltd., a wholly owned subsidiary of the over US $100 Billion Temasek Holdings, Singapore. Fullerton India launched commercial operations in January 2007. It has since established itself firmly in the countrys financial landscape, with a network of over 425 branches across the country catering to its customers. Financial services of the company now include financing of commercial vehicles to motorcycles, home mortgage loans to inventory funding, education loans to loans for medical exigencies, marriage loans to home improvement loans, working capital loans for the urban self-employed to shop improvement loans to the retail segment, from micro loans for livelihood advancement in rural areas to funding the growth of small and medium enterprises. Today, over 8000 employees of Fullerton India reach out to the mass market customer through 425 branches across over 400 towns and cities providing them financial solutions at their doorstep, so that they too could fulfill their needs and aspirations. Fullerton India now has a customer base of nearly a million and caters to a wide variety of their financial needs.

Fullerton India provides a complete range of financial products and solutions, customized to the requirements of mass market and low income population segments. This company follow a customer centric, community based business model. Fullerton India is a subsidiary of Fullerton Financial Holdings Pvt. Ltd., a wholly owned subsidiary of the US $80 Billion Temasek Holdings Singapore.

Our operations commenced in January 2006, with a network of branches across the country to source and service our customers. TEMASEK HOLDINGS Mission To create and maximize long-term shareholder value as an active investor and shareholder of successful enterprises. Corporate Profile Temasek Holdings is an Asia investment house headquartered in Singapore. With a multinational staff of more than 300 people, we manage a portfolio of over S$160 billion, or more than US$100 billion, focused primarily in Asia. We are committed to fostering a sustainable future for our shareholder, staff, portfolio companies and the community. We are an active shareholder and investor in diverse industry sectors such as banking & financial services, real estate, transportation & logistics, infrastructure, telecommunications & media, bioscience & healthcare, education, consumer & lifestyle, engineering & technology, as well as energy & resources. Our total shareholder return since our inception is more than 18% compounded annually. We have a corporate credit rating of AAA/Aaa by Standard & Poors and Moodys respectively.

COMPANY PROFILE What We Are Fullerton India Credit Company Limited, a fully owned subsidiary of Fullerton Financial Holdings, Singapore, is the fastest growing financial services company in India with an equity capital base of US$ 150 Mn (Rs. 7.00 bn). The company follows a relationship led, community based business model with close proximity & engagement with the customer to effectively reach out to them. In a short span of time the company has disbursed Rs over 1800 Crores, opened more than 700 branches spread across 150 locations and has more than 8000 employees on its rolls.
Fullerton India Credit Company Limited is one of Indias leading Non-Banking Finance Companies (NBFC). Fullerton Indias mission is to bridge the gap between inclusion and access to financial services in the mass market segment. It strives towards realizing this mission by expanding its network in newer areas and designing products and services that would fulfill the needs and aspirations of the mass market in India. Seeking out needs and aspirations of customers and helping fulfill them, is the philosophy on which this business is based. Enabling people to express their needs and customizing financial solutions for them is the core of the companys service in this segment.

Financial services of the company now include financing of commercial vehicles to motorcycles, home mortgage loans to inventory funding, education loans to loans for medical exigencies, marriage loans to home improvement loans, working capital loans for the urban self-employed to shop improvement loans to the retail segment, from micro loans for livelihood advancement in rural areas to funding the growth of small and medium enterprises. Today, over 8000 employees of Fullerton India reach out to the mass market customer through 425 branches across over 400 towns and cities providing them financial solutions at their doorstep, so that they too could fulfill their needs and aspirations. Fullerton India now has a customer base of nearly a million and caters to a wide variety of their financial needs - however small or big. For Fullerton India there is no dream too small.

Introduction to Fraud Control Unit (FCU) Fraud Control unit has been formed with the sole objective of minimizing fraud losses at the branch. This team would look at cases at Log in stage ,Pre disbursement & Post Disbursement stage

Log in stage: FCU would assist branch team in identifying loan applications where in documents and/or information has been manipulated. FCU team would go through 100% of the logged in files at branch & on sample basis would pickup cases for field verification

Pre Disbursement stage: In cases where few documents are collected post approval then FCU would again go through those documents & on sample basis would pickup these for verification

Post Disbursement Stage: Cases are picked up based on sample (File Review reports, FCU QC ,Bounced MIS,top5 RO, Top 5 branches, failed SMS , Failed welcome calls etc) & are sent for field verification of documents and/or discreet customer profile check

Daily FCU activities at Branch Screening: 100% of the files which have been sourced needs to be shown to FCU sampler along with completely filled application form, ID proof, Add Proof & Income proof (if required. Please note these are the minimum documents & if any other document is available in the file ,same too needs to be shown to FCU sampler. As a proof of screening one distinct stamp would be put on all the documents available in the file along with file cover. Screening of a document means FCU sampler didnt find any apparent trigger on the document & doesnt mean that document is genuine .Any document which has been collected after FCU screening must be shown to FCU sampler Sampling: On sample basis (Trigger/Random) few documents would be picked up for verification from the source of document. For e.g.. Salary slip/SC would be verified from employer, ITR from IT office etc. For all sampled cases FCU agency would submit a report De dupe: CO / Docs Officer should mail all the requests for De-dupe and for the same, there will be three windows in a day for sending the data (as per the prescribed format) i.e. (1) 10.0 AM (2) 3.00 PM & (3) 6. PM. Mandatory: All documents are mandatory pick-ups in secured loans. There could be location specific mandatory document depending on the trends in the particular location. For e.g. ITR is mandatory in Gujarat. Other FCU Activities & TAT Vendor/Outsource staff Check : All vendor & outsource staff which is appointed at branch needs to be checked through FCU. Details are to be sent in the format on mail to FCU vendor with cc to FC officer for verification Sampler Timing: FCU Sampler would visit at a fixed time once a day .based on convenience of branch provided that time slot is available. In case of multiple branches in the city available time slot would fixed for new branches. Please get in touch with local FCU officer for fixing the time
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TAT For sampled cases TAT is 1 working day, excluding holidays, Saturday Reports for 10 AM window will be provided at 3.30 PM, 3.00 PM window will be provided by 6.00 PM & reports for 6.00 PM window will be provided by next day morning, 10.00 AM. For Vendor /Outsource staff check TAT is 5 working days

MIS

 FCU submit daily tracker for all verified cases through mail. This mail is marked to Unit Head, Credit Officer & BPO There are two attachments sent by agency. One is the excel sheet which has case details & 2nd is the word document Which has single page FCU report for verified case. This word document is to be attached in the file Acknowledgement sheet is also submitted by sampler which indicates that mail has been received by branch Any case where in FCU report has not come within tat 0+1 day ,should be escalated to concerned FCU officer Excel report has two sheets ,one if for case wise details & 2nd sheet indicates MTD FCU sampling, CRS, mandatory Verification & fraud hit rate.

FCU Status & Approval Authority Positive: This means that the document which has been picked up for verification is found positive & case can be possessed by branch subject to all other policy norms met Negative: These are documents where in though document is not fraud but some adverse information has been received during verification Fraud-FD/FP/TC: These documents have been verified & are found to be fraud. i.e. details are not matching with records maintained by issuing office. In some cases documents may be genuine but person is a industry defaulter or had submitted forged documents to another confirmed/not institution. In another category of Fraud(TC) document may be verbally

confirmed by issuing office but if technically document is showing wrong calculations then too it is termed as fraud. such cases should be declined & can be approved only by RFCU Head Failed: This means that FCU couldnt verify the document from issuing office. In such cases Credit Officer can take decision after satisfying himself/herself that document is genuine Referred to Credit: This status indicates that some additional information is received or document is having some triggers but couldnt be verified. In such cases credit officer should ensure that concerns raised in FCU report are addressed

Escalations Any case, decision may be taken up by branch if they are not satisfied with the status sent by FCU vendor as per below mentioned Escalation matrix: 1st Level: Mail should be marked to FCU officer .Normally he would revert within 2 working days but if it is urgent please call him 2nd Level: If TAT is exceeded and/or BUM is not satisfied with decision this can be escalated to Regional Manager of FCU.TAT is 2 working days, in case of urgency please feel free to call 3rd Level: If TAT is exceeded and/or BUM is not satisfied with decision this can be escalated to National Field Risk Manager .TAT is 2 working days, in case of urgency please feel free to call 4th Level: If TAT is exceeded and/or BUM is not satisfied with decision this can be escalated to RFCU Head. TAT is 2 working days, in case of urgency please feel free to call

Some actionable at branch All cases which have been sourced must be logged In at the branch All cases logged in at the branch must be shown to FCU sampler even cases which have been declined should be shown to FCU sampler Any document which has been added in the file after FCU screening should be shown to FCU sampler No document should be removed from the file after FCU screening FCU sampler must visit branch on daily basis Daily reports to reach Branch through email & acknowledgement copy to be signed by CO/Docs officer & returned to FCU sampler File screening/sampling register to be maintained by FCU sampler to capture details of all cases seen by him Mails should not be marked directly to the vendor without keeping in the loop, the concerned FCU Manager.

ACTIVITY PLAN each relationship officer to screen their respective zones under the guidance of rm/b u manager basis texture of the zone all zones of the branch will be covered under blitz zonning activity wherein all branch staff will go to single zone (one by one) use flip chart & explain the advantages of cmm, sambandh etc.. for ro to carry forward the legacy depending upon the suitability of vyapaar samaroh or mortgage samaroh one of the two activities will be planned end to end with targets & achievement in excess of plan preferably in the first week of month full eligibility & how do we do this rejection rate analysis Weaker ro addressal on a daily basis.. thru peer level feedback & support Vijay path training schedule alternate Saturday learning sharing & training schedules all Saturdays second half

Sampoorna Suraksha For loans less than and equal to 25k All customers aged between 20 to 40 years will be covered for a sum assured of Rs. 25,000 for a price of Rs. 1050 All customers aged between 41 to 45 years will be covered for a sum assured of Rs. 25,000 for all benefits, except Critical Illness cover which will be limited to Rs. 10,000 for a price of Rs. 1050 All customers aged between 46 to 50 years will be covered for a sum assured of Rs. 25,000 for all benefits, except Critical Illness cover which will be limited to Rs. 10,000 for a price of Rs. 1250

ELIGIBILITY CRITERIA GENERAL INSURANCE All loan customers between the age of 20 -50 years will be covered under the pack The maximum amount of coverage offered under the scheme is Rs. 1,50,000

The minimum tenure of coverage will be 24 months. All customers availing of a loan with a tenure of less than 24 months will be covered for a 24 month period and a maximum of 36 months. In case of customers opting for a tenure of greater than 36 months, then the coverage will be provided for 36 months The policy expires on occurrence of any of the following Payment of personal accident or Disability and critical illness claims. Customer attaining the age of 55 years. In case of fraud, misrepresentation etc.

STANDALONE LIFE COVERAGE A standalone life insurance coverage from Bajaj Allianz Life Insurance Company can be offered to all customers who not keen on the Sampoorna Suraksha offer A flat fee based on the loan ticket size will need to be collected from each customer, in addition to the base premium. The fee structure will be dependent on the loan size and is as given below:

Loan ticket > 1 lac 1 lac 2 lacs

Fee charged Rs 500/Rs 750/-

Fee charged (inclusive of service tax) Rs. 562 Rs. 843

PROCESS FLOW At the time of personal discussion with the customer pitch the Sampoorna Suraksha proposition The sum assured for each customer will be equivalent to the pack amount, irrespective of the loan amount opted for
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Loan ticket >=25,000 Loan ticket b/n 25,001 and 50,000 Loan ticket b/n 50,001 and 100,000

: Pack of Rs. 1050 / 1250 (Age dependent) : Pack of Rs. 1749 / 2250 (Age dependent) : Pack of Rs. 3250 / 3750 (Age dependent)

Loan ticket b/n 100,001 and 150,000

: Pack of Rs. 4750 / 5250 (Age dependent)

Case 1: In case a customer aged 35 years applies for a loan amount of Rs. 100,000, he will be eligible for a pack of Rs. 3250. However, though his total loan amount will be Rs, 103,250 the sum assured will remain at Rs. 100,000 Case 2: In case a customer aged 35 years applies for a loan amount of Rs.75,000, he will be eligible for a pack of Rs.3250. However, though his loan amount will be Rs, 78,250, the sum assured will remain at Rs.100, 000 Upgrade to the higher pack is permissible. Downgrade to the lower pack is not possible Based on the pack offered to the customer, the credit officer to check with the customer if he needs an increase in loan amount equivalent to the value of the pack. If the customer opts for any of the packs then he is eligible for an automatic increase in the loan amount, equivalent to the pack opted for If the customer wants to buy the pack off the shelf and not include it in the loan amount, then the premium amount can be deducted from the sanctioned loan amount Specify that the customer has opted for general insurance or life insurance, as the case may be on the Credit Appraisal Memo Mention the general insurance premium amount / the life insurance premium and service charges separately in CAM based on the rate card / calculator given Fill up the application form of ICICI Lombard or Bajaj Allianz Life Insurance Company along with the loan form, depending on the product opted for by the customer Collection of following additional documents while sourcing loan for customer opting for the cover Signed Application form ICICI Lombard form in case of Sampoorna Suraksha Only Bajaj Allianz form in case of BALIC Declaration form from the customer, mentioning that he is opting for the scheme on a voluntary basis, only in case of Sampoorna Suraksha Collected documents would form a part of the loan file of the customer and will need to be scanned as per the normal process

Scan the 2 documents (listed above) to Operations along with the loan booking documents. Instruct operations to: Offer the additional loan amount inclusive of the pack charge, in case the customer has opted for the enhanced loan amount Issue a welcome letter to the customer for both the life or the general insurance coverage, clearly mentioning the premium charges as well as the additional service charges Handover the terms and conditions sheet along with the welcome letter of Sampoorna Suraksha In case the customer opts for BALIC, only handover the BALIC welcome letter In case of a co-applicant / private limited / partnership / public limited company the key applicant will be covered In case of top-ups the original cover will continue and a fresh / incremental cover can be sold on the new loan In case of foreclosure of the loan, the surrender value premium amount will be refunded to the customer. The service charge will not be refunded In case of NPAs, the coverage will continue till the end of the original tenure In case of general insurance claims the nominee / relative can get in touch directly with ICICI Lombard through their toll free call centre (1800-222-555) or through the Fullerton India branches. In case of Life Insurance claims the customer has to route all claims through the Fullerton India branches. Receive intimation about occurrence of any of incidents (Critical Illness, Accident, Permanent Total Disability or Death) from nominee or any relative of the customer. Get the claim intimation letter filled by nominee and collect the necessary documents Accidental Death - Claim form ; Doctors report / Hospital report ; Death Certificate ; Police report; Post mortem report ; Bank Loan statement Accidental PTD (Additional docs) - Doctors disability report; Investigation report ; Laboratory test; X-rays and reports essential for confirmation of injury ; Police report ; Loan statement Critical Illness - Doctors certificate; Loan statement; Relevant medical reports

Loss of job - Claim form; Confirmation from the company on the EMI schedule; Employers certificate confirming dismissal / termination; Any other relevant document Life Insurance Cover - DOB Proof: In case of claims upto, Rs.50,000 it is not necessary to submit a age proof. In case of claims above Rs.50,000, arrange for the DOB certificate which has been collected at the time of enrollment has to be submitted ; Claimants statement ; Death certificate from the Registrar of Births and Deaths ; FIR copy in case of accidental deaths

DOs Clearly articulate the features and all the terms and conditions of the product to the customer, not suppressing any critical information Encourage the customers to declare all critical information about his / her personal health, family health, illnesses to avoid repudiation at the claim stage Fill up the application form post a personal visit to the customer and take the customer signature on the form as well as on the declaration Clearly communicate to the customer that this is a group insurance policy and the insurance is underwritten by ICICI Lombard General Insurance and Bajaj Allianz Life Insurance as the case may be Share the benefits of the proposition and inform the customer that he can avail the loan without the insurance proposition as well. The customer shall have the liberty to choose and subscribe to the insurance policy Take the signature of the customer on the application form and the declaration sheet as well. Hand over the welcome letter along with a copy of the Terms and Conditions sheet

DONts Do not offer the Sampoorna Suraksha cover to any customer below 20 years of age and above 50 years of age Do not sublet / source business through third parties Do not encourage rebating of premiums from the customer

The sanction and eligibility of the loan should not be linked to subscription of Insurance by the Borrower. We should not extend Loan to a customer on the condition that the customer subscribes to the insurance. We should not fix or vary the cost /rate of any of the loan items, on the condition or requirement that the customer subscribes to insurance. Do not make any ambiguous statement to mislead the customer

What we Offer Fullerton India - Parivaar and Vyapaar We offer a range of financial products and solutions, tailor-made for the Salaried Individuals (Retail Mass Market) and the Small sized Shop-owners & Entrepreneurs (Commercial Mass Market). We are present through our own, specialized network of branches, separately for these two business segments. Our branches are always only a short distance away from our customers workplace or home. We service our customers only through our own employees. Each of our customers are assigned a dedicated Relationship Officer who acts as the primary contact point for all the financial requirements of our customers. Parivaar This business vertical is dedicated to address the unique requirements of the Salaried Individuals. A national network of Parivaar branches, caters to this segment exclusively. Fullerton India Parivaar has introduced a new concept in the Indian market. Here we have branches, which cater only to the specific needs of Salaried Individuals. Our Parivaar branches provide customized products and solutions, especially designed keeping in mind the unique circumstances and requirements of this segment. Our Parivaar Loans cover a wise range of products, which include: Unsecured Personal Loans Secured Loans Home Finance Home Equity Loans

We also provide Life Insurance. Our Mutual Funds products, are to be launched soon. Some of the key advantages of entering into a relationship with us are:

Our biggest proposition is our customer focus, both, in product design/ customization and service. As an organization, we are structured not around products but along customer segments. We have separate verticals for the Salaried Individuals (Parivaar) and for Small sized shop owners & Entrepreneurs (Vyapaar). This model lends itself to better understanding of our customers' financial situation and for a better products offering to them. With this holistic understanding of our customers, we are also able to combine secured and unsecured products and structure the loan in a manner which is ideally suited to meet individual customer requirements. For the first time in India, our own, company employed Relationship Officers service the needs of the customers. There are no agents or other intermediataries, coming in between the customer and us. These Relationship Officers are the end-to-end solution providers and act as a single point of contact" for all Product, Process and Service related needs of the customer. Our branches do business only within a 5 km radius. Our customers' office or residence has to be within the branch coverage area. This closer proximity of our customers to our branches, ensures better understanding of their local environment and immediate situation. We participate actively in serving the community in and around the vicinity of our branch. Our interest in the locality extends beyond just a business relationship. We believe in participating in other aspects of development of the community as well.

In a nutshell, the key values which we bring to the table are: Simplicity - Easy to understand, simple processes and standard documentation Speed - Average turnaround time in loan processing is just two days Neighborhood financing - Branches are located not more than 5 km away from our customers One Stop Shop - For all financial requirements

Vyapaar This business vertical is dedicated to meet the unique requirements of Small sized Shop-owners & Entrepreneurs. A national network of Vyapaar branches caters to this segment exclusively. India has a large self-employed population running small and basic businesses. When these businesses need financial support to grow and realize their full potential, the limited access to organized finance becomes a big retardant in their growth. For a country with India's depth, the next level of growth will come only if basic businesses (the mass market) graduate to the next level of empowerment and self-sufficiency. Fullerton India Vyapaar strives to improve the business and lives of the small business community. Our business is focused only on small establishments with a turnover of less than Rs.25 Mn per annum.

The key elements are as follows:

The business envisages setting up branches with employees dealing directly with the customers. This offering has elicited an enthusiastic response from our customers as it gives higher degree of transparency and faster value delivery. The relationship model includes a deep assessment of a customers' business resulting in an omnibus facility with a flexible combination of usage in parts, flexibility between a combination of short and long tenures, and from unsecured to partially secured and fully secured facilities. The facility set up for a customer is based on his risk profile, repayment capacity, as well as proposed expansion plan. A Relationship Officer is assigned to address incremental product needs, as well as for service requirements, through a process of continuous engagement. The business strives to deliver lifelong financing support and regular facility enhancement, based on business growth.

We understand that smaller customers do not create a distinction between personal borrowing and business borrowing; the facility is designed to cover both needs.

Businesses are built on people, and the company hires relevant local talent to serve the market, so that there is a connect between the employees and customers. The business wishes to bring a full service proposition encompassing loans and liabilities to the small business owners. Besides the variety of loans, life insurance has been introduced which will also be delivered through the branch based Relationship Officers. The business uses advanced technology tools to record customer history, and leverage track record to enhance credit exposure in line with the customer business cycle. This ensures continuous support through seasonal peaks. Value to customer

Simplicity - Easy to understand, simple process and standard documentation. Speed - Average turnaround time in loan processing is two days Neighborhood financing - Branches are located in the centre of business hubs convenient from an access and timing perspective One Stop Shop - For all business and personal financial needs CUSTOMERS Self Employed People (Businessman) Salaried People (Servicemen)

Self Employed People (Businessman) These people are those who are having their own business like General Stores, Medical Shop, Ladies Tailor, Retailers, Hardware Shops, etc.

Salaried People (Servicemen) These people are those who are salaried i.e. doing jobs or service in any stream or any professional like lawyer, C.A., Doctor, Engineer, or any Govt. Servant. COMPITITORS 1. Citi-Finance 2. Barklay 3. AXIS Bank 4. HDFC Bank 5. ICICI Bank 1. CITI -FINANCE Since 1912, CitiFinancial has been helping people realize their financial goals and dreams. We are in each province and in the Yukon Territory with more than 300 branches across Canada. We are part of the communites in which we serve. Our branches are staffed with friendly, knowledgeable people who live and work right in your neighborhood. They understand your needs and can tailor a loan solution for just about every situation. Read on for more details about our companys history. A Pioneering Beginning We started in the U.S. when Alexander Duncan founded Commercial Credit in 1912. Our company was a pioneer in the consumer finance industry. In 1916, we offered an installment loan program to help people purchase what was then an exciting new invention - the automobile. That led to the development of installment buying plans for home appliances and other consumer goods. Growing with America In the next decades, we acquired a major credit insurer and a casualty insurance company. In 1944, we organized an insurance unit that later became American Health & Life Insurance Company. In 1968, Commercial Credit became a wholly owned subsidiary of Control Data Corporation. Going Public Wall Street legend Sanford I. Weill assumed control of the operations of Commercial Credit in 1986 and took the company public. Within two years, the company acquired Primerica Corporation, the parent company of several investment, financial services and insurance firms, including the well-known Smith Barney. Joining the Travelers Group

In 1992, Primerica purchased 27% of Travelers Insurance, a company with one of the most recognizable logos in the U.S. - the red umbrella. Less than a year later, Primerica purchased the remaining 73% of Travelers, which later adopted the name Travelers Group. In subsequent years, Travelers Group acquired Shearson-Lehman's retail brokerage, Aetna's property and casualty business, Security Pacific Financial Services, and Salomon Brothers, creating the nation's third largest investment house - Salomon Smith Barney. The Creation of Citigroup In 1998, Travelers Group merged with banking powerhouse Citicorp to create Citigroup, a global financial services company serving 20 million customers worldwide. Citigroup's businesses include asset management, banking, credit and charge cards, insurance, investments, investment banking and trading. An International Company with A New Name In 1999, Citigroup purchased 128 offices of Texas-based Associates First Capital, giving us more than 1,400 offices in 45 states. We then turned our focus to Canada, buying Associates First Capital offices there. In September of that year, we changed our name to CitiFinancial to proudly recognize our affiliation with our parent company and to better reflect what we do today. In November 2000, we continued our growth with the acquisition of The Associates. As part of Citigroup, we continue to provide you with a full range of exceptional products and services to help you find a financial solution that's right for you. Citigroup is the world's most global financial services company whose other subsidiaries include: Citibank, Travelers Life & Annuity, Smith Barney and Primerica.

2. BARKCLAYS With a rich history dating back almost 300 years, Barclays plc has grown into one of the largest financial services groups in the United Kingdom. The company is involved in banking, investment banking, and investment management and operates 2,000 domestic branches and nearly 850 international branches in over 60 countries across the globe. Barclays is organized into seven business units: Barclays Africa; Barclaycard; Barclays Capital; Barclays Global Investors; Barclays Private Clients; and UK Banking. The company has over 4.5 million registered online bankers and over 10.6 million Barclaycard customers in the United Kingdom. In 2003, Barclays was the world's ninth-largest bank based on market capitalization. Early History Barclays takes it symbol, the spread eagle, from the Quaker goldsmithing and banking firm founded by John Freame in 1728. In 1736, James Barclay, Freame's brother-in-law, became a partner in the Black Spread Eagle. When two more of Barclay's relatives joined the firm

Silvanus Bevan in 1767 and John Henton Tritton in 1782the banking firm took the name by which it would be known for more than a century: Barclays, Bevan & Tritton. While fledgling joint-stock banks outside London struggled to establish themselves in the late 18th and early 19th centuries, Barclays, Bevan & Tritton was still occupied with the wellestablished and highly lucrative commercial life of London. A series of legislative changes enacted in the late 19th century created a new banking climate that threatened the existence of private banks such as Barclays. First, the Bank Charter Act of 1826 allowed banks with more than six partners to be formed only outside London. In 1833, the geographical restriction was removed. Stockholders of new joint-stock companies were granted limited liability for the first time in 1854. Finally, in 1879, existing joint-stock associations were allowed to convert to a limited-liability structure. Mergers in Late 19th and Early 20th Centuries As a result of these legislative changes, provincial limited-liability joint-stock companies started picking off private banks. After lengthy negotiations, three of the largest Quaker-run banking firmsBarclays (which had become Barclays, Tritton, Ransom, Bouverie & Company after a merger in 1888), Jonathan Backhouse & Company, and Gurneys, Birkbeck, Barclay & Buxton, along with 17 smaller Quaker-run banks, agreed to merge and form a bank large enough to resist takeover attempts. Barclays took its modern form in 1896 when the 20 private banks merged to form Barclay and Company, Ltd., a joint-stock association with deposits totaling an impressive 26 million. This marked the beginning of Barclays' tradition of service to farmers and fishermen. Francis Augustus Bevan, grandson of Silvanus Bevan, served as the new bank's first chairman for 20 years. The company's structure and course, however, were directed for its initial 40 years by Frederick Crauford Goodenough, as first secretary, until 1917, and then as chairman after Bevan's retirement until his own death in 1934. Goodenough was the only chairman recruited from outside the original founding families until 1987. Recruited from the Union Bank of London, Good enough remained aloof from family controversies and quickly proved his merit. Goodenoughs first task was to meld the constituent banks into a single enterprise. He took a decentralized approach that was to be Barclays' hallmark for most of the 20th century. Each member bank was independently operated under the control of its own board of directors. Senior partners of the constituent banks were given a seat on the Barclays board. In this way, longstanding relationships between each member bank and its customers were maintained, and the new company took advantage of the knowledge and experience of its leaders. At the same time, Goodenough initiated a series of mergers which eventually made Barclays one of the largest banks in Great Britain. In its first 20 years, Barclays acquired 17 private

banks throughout England, including Woods and Company of Newcastle upon Tyne in 1897, Bolitho Bank in Cornwall, and United County Banks, its first joint-stock bank acquisition, in 1916. The bank's merger with the London, Provincial and South Western Bank in 1918 made it one of the Big Five British banks. During this period, Barclays merged with 45 British banks and its deposit base grew to 328 million. This era of banking amalgamations came to an end in 1919, when the Colwyn Committee recommended, and banking authorities unofficially adopted, limitations on previously unregulated bank mergers. The committee suggested that thenceforth the Bank of England and the treasury approve only those mergers that provided important new facilities to customers or secured significant territorial gains for larger banks. Mergers were no longer approved if they resulted in a significant overlap in the areas served by constituent banks without countervailing benefits to customers or if they would result in "undue prominence" for a larger bank. After the Colwyn Committee report, mergers were increasingly difficult to justify, and the consensus was that mergers among the Big Five would not be approved. 3. AXIS Bank Axis Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The Bank today is capitalized to the extent of Rs. 357.71 crore with the public holding (other than promoters) at 57.49%. The Bank's Registered Office is at Ahmadabad and its Central Office is located at Mumbai. Presently, the Bank has a very wide network of more than 671 branch offices and Extension Counters. The Bank has a network of over 2764 ATMs providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence. MISSION AND VISION Our Mission Customer Service and Product Innovation tuned to diverse needs of individual and corporate clientele. Continuous technology upgradation while maintaining human values. Progressive globalization and achieving international standards. Efficiency and effectiveness built on ethical practices.

Core Values Customer Satisfaction through

o o o

Providing quality service effectively and efficiently "Smile, it enhances your face value" is a service quality stressed on

Periodic Customer Service Audits Maximization of Stakeholder value Success through Teamwork, Integrity and People

4. HDFC Bank The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. Mission Our mission is to be a World Class Indian Bank, benchmarking ourselves against international standards and best practices in terms of product offerings, technology, service levels, risk management and audit & compliance. 5. ICICI Bank ICICI Bank is India's second-largest bank with total assets of Rs. 3,767.00 billion (US$ 96 billion) at December 31, 2007 and profit after tax of Rs. 30.08 billion for the nine months ended December 31, 2007. ICICI Bank is second amongst all the companies listed on the Indian stock exchanges in terms of free float market capitalisation*. The Bank has a network of about 955 branches and 3,687 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in Unites States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium. ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

History ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry, and the move towards universal banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities, and would create the optimal legal structure for the ICICI group's universal banking strategy. The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI's strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmadabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. Consequent to the merger, the ICICI group's financing and banking operations, both wholesale and retail, have been integrated in a single entity.

SWOT OF FULLERTON INDIA Strength Multi Branches all over India with Multi Relationship Officers. Weakness Borrowing rates from RBI is high i.e. 12%. Opportunities Converting into Bank through joint venture by 2011. Threats Citi-Finance, Barclays and other competitors.

Analysis of Data This research is based on primary and secondary data i.e. collected through primary and secondary sources. The primary data is collected with the help of questionnaire survey and the secondary data is collected from News papers, Internet, and Magazines. Therefore, the analysis of data is categorized under following two sub categories that are: Analysis of Primary Data Analysis of Secondary Data

Firstly the analysis of primary data includes the analysis of data collected through questionnaire. The analysis of Primary Data is as follow:Parameters selected for Collecting Primary Data 1. Age of the Respondent Age Percentage 18-28yrs 30% 28-38 yrs 26% 38-50 yrs 24% More than 50 20.00%

The respondent of research comprises of 30% of 18-28 years, 26% of 28-38 years, 24% of 3850 years and 20% of more than 50 years. This classification of age group is required to know the perception of person for taking loan at different stage of life. Generally Fullerton India provides loan to salaried individuals and new entrepreneurs, therefore our sample size is consists 56% of respondents lies between the age group of 18 to 38years. After setting the age group composition for survey the next parameter for differentiating respondent is Income level

P rc n g e e ta e 4% 0 3% 0 2% 0 1% 0 0 % 18 2 yrs 8 2 -3 8 8 y rs 3 -5 8 0 y rs M re o th n a 5 0

P rce ta e e n g

2. Annual Income of the Respondent

Income %age

Below 1 Lac 15%

1-2 Lac 40%

2-5 Lakh 35%

Above 5 Lakh 10%

Second classification of respondent is based on the basis of their annual income. This classification is done to know that mostly which income level people have more demand for loan. This research is targeted to know the demand of loan by salaried individual and small entrepreneurs, therefore the sample size consists of 15% Lower Income level and 40% middle income level for judging the demand of salaried individual and to judge the demand of small entrepreneurs the sample size consists of 35% upper middle income level and 10% that are having annual income more than 5 lakh.

P e rc e n t a g e 50% 40% 30% 20% 10% 0% B e lo w 1 1 -2 2 -5 A b o ve 5 Lakh Lakh Lakh Lakh

P e rc e n t a g e

3. Occupation of the Respondent

Occupation

Government Employee

Private Employee

Businessman

Percentage

30.00%

25.00%

45.00%

The third important consideration which helps to identify that whether the respondent is salaried individual or small entrepreneurs is occupation. The occupation comprises of Government Employee, private employee that fall into salaried individual category and third component of occupation is Businessman which indicate small entrepreneurs. The weight provided to salaried individual i.e. to Government and private employee is 55% because Fullerton offered more product to this category and For small entrepreneurs the weight assigned is 45% , because this weight can give justifiable result to divide the demand of loan on the basis of occupation.

P e rc entag e 50 .00 % 40 .00 % 30 .00 % 20 .00 % 10 .00 % 0 .00 % Governmen t Employee Private Employee Businessm an

P e rc e ntage

4. From which source you knew about the various schemes of Fullerton India?

Sources

News Paper

Television Media

Internet

Friends

Percentage

44%

12%

20%

24%

This question is asked in order to know the effectiveness of the advertisement strategy adopted by Fullerton India. The result found by the survey shows that most of the customer knew about the various loan schemes through news paper & internet. Therefore company can make more use of the news paper and internet to increase its customer base. Secondly the company also getting the benefit of its existing customer to advertise its product, because 24% of customer knew about the schemes of Fullerton India through their friends who had taken loan from Fullerton India. Fullerton India is not making use of Television media frequently because it is very costly, therefore resultantly it contributed only 12% in creating the awareness among the customer regarding various schemes of Fullerton India.

P erc entage 50% 40% 30% 20% 10% 0% News Paper Television Media Internet Friends

P erc entage

5. Which type of loan you availed from Fullerton India?

Types

Secured Loan

Unsecured Loan

Home Loan

Home equity loan

Percentage

42%

18%

28%

12%

The most preferred loan by customer is secured loan. This loan is easily available to customer because there is less risk faced by Fullerton in giving this type of loan as it is secured by some assets of customer. Second more preferred loan than secured loan is Home loan which is availed by 28% of customer other loan are availed by18% and 12% of sample size.

P e rc e n t a g e 50% 40% 30% 20% 10% 0% Secured Loan Home Loan

P e rc e n t a g e

6. Through which scheme of Fullerton India you availed loan?

Type Percentage

Parivaar 62%

Vyapaar 38%

The Fullerton India offers different types of loans under two main scheme that are Parivaar and Vyapaar. The Parivaar scheme is for salaried individual where as Vyapaar scheme available for small entrepreneurs. The result of survey shows that most of customer availed loan under parivaar scheme i.e. 62% as compare to Vyapaar. Therefore it shows that, the salaried

individual are more important for company, so the company is require to focus on this core product and simultaneously it require to improve the promotion of its Vyapaar scheme to attract more customers.

P e rc e n t a g e 80% 60% 40% 20% 0% P a riva a r V yapaar P e rc e n t a g e

7. What is your amount of loan?

Amount of Loan 0 - 2,00,000 2,00,000-5,00,000 5,00,000-10,00,000 10,00,000 or more

%age of Respondents 28% 45% 32% 5%

This question is asked to know that generally how much amount of loan is availed by the customer. The result of survey shows that 45% customer availed 2 lakh to 5 lakh loan, 32% availed 5 to 10 lakh, 28% availed loan up to Rs 2lakh and there are very less customer who availed loan more than 10 lakh. So the Fullerton India is famous for medium loan, but there are very less number of customer for large amount loan. Therefore the company needs to focus on

the

schemes

for

large

amount

loan

to

be

%age of Respondents 50% 40% 30% 20% 10% 0% 2,00,0005,00,000 02,00,000 5,00,00010,00,000 10,00,000 or more

%age of Respondents

8. What is the repayment period of your loan?

Number of Years Below 2 Years

percentage of Respondents 19%

2-5 Years 5-10 Years More than 10 Years

43% 28% 10%

The profit of the company depends on the repayment period, because if the repayment period is long than customer will pay interest for long period so it beneficial for company to issue loan for long repayment period. In the survey itb was found that 19% customer availed loan for maturity period less than 2 come famous in this segment also. years, 43% of customer availed loan for 2 to 5 years, 28% availed for 5 to 10 years and only 10 % availed for the repayment period more than 10years. The most preferred repayment period is 2 to 5 years. The company will earn more sustainable profit for long period if it increases the customer who avail loan for long maturity period, therefore the company need to formulate some attractive scheme to attract the customer towards long repayment period loan.

Percentage of Respondents 50% 40% 30% 20% 10% 0% Below 2 2-5 Years Years 5-10 Years More than 10 Years

Percentage of Respondents

9. Are you satisfied with the rate of interest charge by Fullerton India?

Yes 67%

No 33%

The Fullerton India charging different rate of interest for different type of loan. The rate of interest of unsecured loan is quite high because of risky nature whereas secured loan is available at less rate of interest. Therefore there are some customers who are not satisfied with the rate of interest. The sample size consists of 67% customers who are satisfied with the rate of interest charging by Fullerton India and only 33% are unsatisfied.

80% 70% 60% 50% 40% 30% 20% 10% 0% Y es No

S e rie s 1

10.

What are the main factors which persuade you to avail loan from Fullerton India?

Factors Easy Repayment Easy Documentation

No. Respondents 19% 26%

Attractive Rate of Interest Quick Processing Others

29% 17% 9%

This question is considered to know that which service of Fullerton India attract more and more customer. The result shows that an attractive rate of interest is the most important factor responsible for attracting customer toward Fullerton India, then easy documentation, easy repayment and quick processing is also work as supplement to attract customer for availing loan from Fullerton India. Only 9% customers are fall in the category of others who availed loan due to the references of some person, such as friends and relatives. No. Respondents 40% 30% 20% 10% 0% Easy Repayment Attractive Rate of Interest Others

No. Respondents

11. What grade you will assign to the services of Fullerton India?

Grades

Excellent

Very Good

Good

Fair

Poor

Percentage

12%

47%

31%

6%

4%

This result shows the perception of different customer toward services of Fullerton India. The 12 % customer thinks that the service delivery of Fullerton India is excellent whereas 47% thinks its service delivery is very good, 31% thinks that services delivery is only good and 6% thinks that the service delivery of Fullerton India is fair, but as nobody can satisfy everyone at same time, so this is same for Fullerton India, 4%customer are not satisfied with the services of Fullerton India.

P e rc e n t a g e 50% 40% 30% 20% 10% 0%

Fa ir Ex ce l le Ve nt ry Go od Go od Po or

P e rc e n t a g e

Analysis of Secondary Data Analysis of secondary data includes the review of the news and articles published in news paper or magazines regarding Fullerton India Credit Company Limited.

Article 1 Fullerton India Credit adopts Newgens BPM solution Newgen Software Technologies Limited announced the successful implementation of its BPM solution (based on Newgen OmniFlow) at Fullerton India Credit Company Limited (FICCL).. NEWGEN SOFTWARE Technologies Limited, a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), with impeccable track record of implementing mission-critical workflow and document imaging solutions, announced the successful implementation of its BPM solution (based on Newgen OmniFlow) at Fullerton India Credit Company Limited (FICCL). FICCL, one of the largest capitalised Non Banking Finance Companies (NBFC) in the country has taken a steep target of setting up a total of 800 branches in the country by the end of 2009 (Till now, the company has set up over 650 branches). Speaking of Newgens solution that has helped the FICCL in gearing up to meet its targets, Pramod Krishnamurthy, executive vice president, technology, FICCL said, One of the key factors that has accounted for Fullerton Indias rapid growth and ramping up of operations is the excellent support provided by the Newgen team. Their state of the art workflow routing and imaging system (Omniflow) has met our dynamic requirements very well; it has enabled us to provide high level of customer service internally and externally. We look forward to a continued long-term association with them as a valuable partner in our growth. Newgens implementation at FICCL covers the entire gamut of processes including loan origination and booking, collections and prospect tracking, loan against gold and early warning processes. FICCL currently has more than 350 branches across the country. Number of concurrent users (users across the branches who can be simultaneously logged into the system), which is already over 900, is expected to grow up to 1500 in near future.

Speaking of the successful implementation at FICCL, Punit Jain, vice president, sales and marketing, Newgen Software Technologies, said, In line with our objective to be an end-to-end BPM solution provider, our solution has offered FICCL continuous process improvement, rapid results, visibility and control. With this implementation, we are glad to support FICCL in reaching its steep targets and establishing a strengthened network in India.

Newgen OmniFlow 5.0 is a platform independent, scalable BPM solution that enables automation of organisational business processes. It is a complete software solution to design, deploy, modify, monitor and manage business processes, involving minimal programming effort, and is easily deployable thereby enabling enterprises to streamline their business processes for greater efficiencies. Built using open technologies Newgen OmniFlow has seamless integration abilities allowing it to be introduced into almost any existing IT infrastructure. About Fullerton India Credit Company Limited Fullerton India Credit Company Limited, a fully owned subsidiary of Fullerton Financial Holdings, Singapore, is the fastest growing financial services company in India with an equity capital base of US$150 million (Rs 7 billion). The company follows a relationship led, community based business model with close proximity and engagement with the customer to effectively reach out to them. In a short span of time the company has disbursed over 1800 crore rupees, opened more than 400 branches spread across 150 locations and has more than 8000 employees on its rolls. About Newgen Software Newgen Software Technologies Limited is a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), with impeccable track record of implementing mission-critical workflow and document imaging solutions. We have a global footprint, with an installation base of more than 700 customers in over 25 countries. More than 40 of our customers are Global Fortune 500 companies. Having domain expertise in industry verticals such as Banking, Financial Services, Insurance, BPO, Telecom, e-Governance and manufacturing among others, we are known as one of the fastest implementers of BPM solutions in the world.

The sales and support offices span across major cities in Asia, North America, Europe, Africa and the Middle East. Winner of several awards such as Frost and Sullivans Market Leadership Award for Document Management and Workflow Software & Services for 2006 and Distinguished Application Product Company by NASSCOM, Newgen Software is an ISO 9001:2000 certified and CMM Level 4 company.

Review of Article: 1 The first review based on the article published in web site BPM.com. This article talks about the adoption of Newgens BPM solution for their Business process management. NEWGEN SOFTWARE Technologies Limited is a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), with impeccable track record of implementing mission-critical workflow and document imaging solutions, has announced the successful implementation of its BPM solution (based on Newgen OmniFlow) at Fullerton India Credit Company Limited. Fullerton India has taken this step to achieve its target of setting up a total of 800 branches in the country by the end of 2009 (Till now, the company has set up over 650 branches). Newgens solution will help the Fullerton India to meet its targets and an another importance of this step is rapid growth. It also enabling Fullerton India to provide high level of customer service internally and externally.

Newgens implementation at FICCL covers the entire gamut of processes including loan origination and booking, collections and prospect tracking, loan against gold and early warning processes.

Article: 2 Fullerton India Credit Company Limited (FICCL) has bagged the Gold award for Excellence in Business Process Management (BPM) and Workflow with Newgen Softwares BPM solutions. The company has bagged the award for the Pacific Rim region. The Global Awards for Excellence in BPM and Workflow recognizes user organizations that have demonstrably excelled in implementing innovative business process solutions to meet strategic business objectives. The awards are given for five geographical regions: Europe, Middle East Africa, North America, Pacific Pacific Rim, and South & Central America with each region receiving one Gold and one Silver Award. In order to streamline the workflow and imaging process, Fullerton deployed the BPM solutions provided by Newgen. The implementation by Newgen Software at FICCL covered the entire gamut of processes including loan origination and booking, collections and prospect tracking, loan against gold and early warning processes. FICCL currently has more than 825 branches across the country. We are honoured to have been presented with this award. One of the most important factors which contributed to our success has been the ease with which business process change has been enabled through Newgens OmniFlow. The solution has enabled us to do this quickly and economically, said Pramod Krishnamurthy, executive vice president, technology, FICCL. Speaking of the successful implementation of their solution Rajvinder Kohli, VPSales, Newgen Software Technologies, said, The recognition is a reflection of our commitment towards our customers to provide them with best services. The deployment of OmniFlow BPM Suite at Fullerton India Credit has created history by enabling them to open more than 800 branches in just two years. The solution provides total automation for Loan Origination, CRM and Collection processes, including implementation of a unified interface that integrates four different core applications seamlessly. About the awards

The annual Global Awards for Excellence in BPM and Workflow is co-sponsored by WfMC, BPMFocus.org and BPM.com and now in their 15th year. While judging the winners, particular attention is paid to implementations that have showed processes extending beyond the corporate boundaries to support customers, suppliers, trading partners and more. There are five geographical regions: Europe, Middle East Africa, North America, Pacific Pacific Rim, and South and Central America. Each region receives one Gold and one Silver Award. About Newgen Software Newgen Software Technologies Limited is the market leader in Business Process Management (BPM) and Document Management System (DMS), with a global footprint of about 700 installations in over 30 countries. More than 100 of these implementations are large, missioncritical solutions deployed at world's leading BFSI, BPO and Fortune Global 500 companies. Newgen is recognized by distinguished analyst firm IDC in its exclusive report Newgen Software: Global Leader in Business Process Management and Document Management Solutions. Winner of prestigious awards, such as CNBC-TV18 Emerging India Award 2008, Frost and Sullivan's Market Leadership Award for Document Management System and Workflow Software & Services and Distinguished Application Product Company by NASSCOM, Newgen Software is an ISO 9001:2000, ISO 27001 certified and CMM Level 4 company.

Review of Article: 2 Second Review is based on the article published in similar web site i.e BPM.com. This article reveal about the gold award won by Fullerton India Credit Company Limited (FICCL) for Excellence in Business Process Management (BPM) and Workflow with Newgen Softwares BPM solutions. The company has bagged the award for the Pacific Rim region. This Awards for Excellence in BPM and Workflow recognizes user organizations that have demonstrably excelled in implementing innovative business process solutions to meet strategic business objectives. The awards are given for five geographical regions: Europe, Middle East Africa, North America, Pacific Pacific Rim, and South & Central America with each region receiving one Gold and one Silver Award.

Awards and achievements:-

Fullerton India Wins Award for Company with the Best Corporate Sustainability & Responsibility Practices 2009

On 22nd December 2009, Fullerton India was awarded the Company with the Best CSR Practices 2009 Award by the Indian Merchants Chamber and the Asian Centre for Corporate Governance & Sustainability. Fullerton India has been awarded this years award for Best Corporate Sustainability & Responsibility Practices for setting up a unique financial services company to promote inclusive growth in the mass market, community care initiatives and for evaluating its Socio-Economic impact through its Social Accounts in a comprehensive and unique manner. The annual Asian Centre for Corporate Governance, Sustainability & Leadership Awards are given to persons and organizations which have shown exemplary performance in the area of Governance, Sustainability & Leadership. The Citation for the Award reads: Fullerton India Credit Company Ltd. has provided yeoman service to the bottom of the pyramid segment. Their passion for inclusive growth through social investment and providing credit to those who need it the most and yet have been excluded from the formal borrowing system is exemplary

Their unwavering commitment to best practices of social responsibility of business towards society through highly successful partnerships with two NGOs and other entities of civil society and a transparent and accountable mechanism makes them a worthy recipient of the award Company with the Best CSR Practices 2009 conferred by Asian Centre for Corporate Governance & Sustainability & and the Indian Merchants Chamber Fullerton India Wins Golden Peacock Award for Product Innovation 2010

Fullerton India wins Golden Peacock Innovative Product Award 2010 for Sampoorna Suraksha the Group Insuarnce product proposition offered to customers of Fullerton India in the Innovative Product Award category. The award recognizes excellence in product design and concept, execution with benchmark attachment rates and claims service experience of customers. With over 600,000 customers covered under the proposition and still maintaining the customer attachment levels during the acquisition process, Sampoorna Suraksha has become synonymous to Insurance within the company and its customers.

Findings of the Study

From the above study it is clear that 62% of the respondents have taken loan under parivaar scheme and only 38% taken loan under Vaypaar scheme. Therefore it shows that Fullerton India is favourable in short term loan segment which is provided by Fullerton India under Parivar scheme and especially for salaried individual. From the above study it is clear that majority of the respondents got aware of different loan scheme provided by Fullerton India through News paper. Therefore company is require to advertise its schemes more frequently in News paper which will help company in getting more new customers.

The above study depicts that most of the respondents availed loan of amount ranging from Rs.2-5- Lakh. Therefore, if Fullerton India introduce more scheme under this range to meet the different demand of customers.

The above study depicts that mostly the respondents preferred the loan having

repayment period from 2-5. Therefore the company needs to add some more benefits to the long term period loan so that the demand of long term loan will increase which increase the profit of company, because as the repayment period is long than the source of income (Interest) is sustain for long period.

Most

of the people are satisfied with the rate of interest charged and by

Fullerton India.

Fullerton India mostly disbursed loan as secured loan, this will provide the safety
and it will avoid the increasing number of Non-performing asset and bad debts.

Customers are the main source of new ideas, and thus their suggestions

are

vital for every Company. From the above figure it is clear that majority of the respondents are satisfied with the services of their present bank so they do not want any change in the rate of interest and services, but no one can satisfy everyone at same time, Fullerton having respondents who are not satisfied with rate of interest and services of Fullerton India.

Suggestions

The following suggestions have been formulated on the basis of above study. These set of suggestions might help the Fullerton India to improve the quality of service regarding loan provisions and simultaneously these suggestions help the Fullerton India to tackle the competition prevailing in the market, thereby achieving success in the future. Firstly Fullerton India should create awareness among the common public about the various loan schemes of they are providing.. In order to create awareness regarding the loan schemes an electronic medium of media can put to use to advertise about the schemes and services provided by Fullerton India. This would help to change the attitude of the people regarding the Fullerton India. The interest rates should be regularly revised in order to attract more and more customer. Some new plans should be introduced regularly to cater the special needs of customer which provides them more offerings and benefits. New strategies should be made by the company which enables them to face the competition with other private leading Non Banking Financial companies. The company needs to focus more on providing value added services to its customer. This will create Brand loyalty among customer which indirectly attract more and more customer because a satisfied customer will always bring two more new customers. The management of company should be more efficient which enables in quick processing of the task regarding loans disbursement and loan collection, This will enable efficiency in the working capital cycle of the company. There should be customer relationship management concept in the company which help the company to understand the special need of customer. Accordingly company formulate schemes should be maintained. The Fullerton India need to concentrate on new target market by expanding its business through introducing new loan schemes and services. Currently the company is proving loans under main two category i.e Parivaar and vyapaar so, it looks limited. Therefore the company needs to introduce new schemes to enter in to new target market.

References

 http://www.emeraldinsight.com/10.1108/02652320010315325 http://www.emeraldinsight.com/10.1108/10610429610119469 http://www.emeraldinsight.com/10.1108/08944310510556982

http://www.emeraldinsight.com/10.1108/08876040410536495 http://www.emeraldinsight.com/10.1108/02634500410525841 http://www.emeraldinsight.com/10.1108/09604529610120294 www.fullertonindia.com/ www.fullertonindia.com/index.php?option=com_facileforms&Itemid=225

QUESTIONNAIRE

Name:

Contact No:

1. Age of the Respondent:a. 18-28yrs c. 38-50 yrs b. 28-38 yrs d. More than 50

2. Annual Income of the Respondent: a. Below 1 Lakh c. 2-5 Lakh b. 1-2 Lakh d. 2-5 Lakh

3. Occupation of the Respondent:a. Government Employee b. Private Employee c. Businessman

4. From which source you knew about the various schemes of Fullerton India? a. News Paper c. Internet b. Television Media d. Friends

5. Which type of loan you availed from Fullerton India? a. Secured Loan c. Home Loan b. Unsecured Loan d. Home equity loan

6. Through which scheme of Fullerton India you availed loan? a. Parivaar b. Vyapaar

7. What is your amount of loan? a. 0 - 2,00,000 c. 5,00,000-10,00,000 b. 2,00,000-5,00,000 d. 10,00,000 or more

8. What is the repayment period of your loan? a. Below 2 Years c. 5-10 Years b. 2-5 Years d. More than 10 Years

9. Are you satisfied with the rate of interest charge by Fullerton India? a. Yes b. No

10. What are the main factors which persuade you to avail loan from Fullerton India? a. Easy Repayment c. Attractive Rate of Interest e. Others b. Easy Documentation d. Quick Processing

11. What grade you will assign to the services of Fullerton India? a. Excellent c. Good e. Poor b. Very Good d. Fair

Thank You

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Contract copy and salary slip of NRI. Endorsement on passport for last 3 years. Proof of ownership of property. Post-dated cheques must be from the resident account of the borrower.

No Income-Document Loan Plan: Now, you can get a car loan without proof of income. Under this scheme, you get the loan amount up to 60% of the car invoice value. The tenure of loan can be a maximum of 3 years.

100% Loan Plan with Fixed Deposit Lien: This allows you to take a loan against your deposit at HDFC Bank. You can get a loan for 100% of the invoice value amount with the required margin placed as a fixed deposit in HDFC Bank. Lien is marked on the specified deposit. Installments can be paid separately or out of the deposit (if deposit is large enough). Salaried Individuals Self Employed Partnership Firms Private Limited Company Public Limited Company Eligibility & Documentation: Salaried Individuals Eligibility Criteria: Minimum age of Applicant: 21 years. Maximum age of Applicant at loan maturity: 58 years. Minimum employment: 1 year in current employment and minimum 2 years employment. Minimum Annual Income: Rs 100000 net annual income. Telephone: Must at residence.

Documents required: Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving license( Laminated, Recent, Legible). Income Proof:- Latest salary slip with form 16. Address Proof:- Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card. Bank Statement:- Not mandatory

Self Employed Eligibility Criteria:

Minimum age of Applicant: 21 years. Maximum age of Applicant at loan maturity: 65 years. Minimum employment: Atleast 3 years in business. Minimum Annual Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars.

Telephone: Must at residence

Documents required: Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence (Laminated, Recent, Legible). Income Proof:- Latest ITR Address Proof:- Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card. Bank Statement:- Waived for small cars, for mid - sized and premium cars if incomee greater than Rs. 1.5 lacs then bank statement requirement can be waived.

Partnership Firms Eligibility Criteria: Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p.a. for midsized and premium cars. Minimum turnover: Turnover Rs. 4.5 lacs. Telephone: One phone at least at business and at residence of the loan executing partner.

Documents required:

Proof of Identity:- NA Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years and the latest 2 years IT returns of the company.

Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate.

Bank Statement:- Waived for small cars, for mid - sized and premium cars if income Is greater than Rs 1.5 lacs then bank statement requirement can be waived.

Private Limited Company Eligibility Criteria: Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for midsized and premium cars. Minimum turnover: Turnover Rs 4.5 lacs. Telephone: One phone at least at business premises.

Documents required: Proof of Identity:- NA Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years and thee latest 2 years IT returns of the company. Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate. Bank Statement:- NA

Public Limited Company

Eligibility Criteria: Minimum Income: Net profit Rs. 60000 p.a for standard cars and Rs.100000 p a for midsized and premium cars. Minimum turnover: Turnover Rs 4.5 lacs. Telephone: One phone at least at business premises.

Documents required:

Proof of Identity:- NA Income Proof:- Audited balance sheet, Profit & Loss Account for latest two years. Address Proof:- Telephone Bill/Electricity Bill/Shop & Establishment Act certificate/SSI registered certificate/Sales Tax certificate.

Bank Statement:- NA

NRI Loans: NRIs can avail of new car loans from HDFC Bank for the use of the vehicles by their relatives in India. Additional documents required are as follows : Contract copy and salary slip of NRI. Endorsement on passport for last 3 years. Proof of ownership of property. Post-dated cheques must be from the resident account of the borrower.

Past re-payment history: Plan for customers who have taken a car loan and have repaid that loan fully without any outstandings. Credit approval on the basis of past re-payment record.

Approval Plan: If you have an HDFC Bank Preferred Account or a Corporate Salary Account with HDFC Bank for more than six months, you can get fast approvals on your loans with minimal documentation

Eligibility & Documentation: Best Guide to Car Segments and Funding segment A:Mini B:Compact C:Mid-Size D:Executive D+:Premium D+: Luxury Ex-Showroom Funding % Value (In lac) <=2.15 80-100 2.2-4.5 4.5-10.0 9.5-16.0 16.0-25.0 25.0+ 90-100 75-100 75-95 75-90 75-85 Examples Maruti 800 Alto, Swift, Indica, Santro, Getz, Estillo, A-Star, Palio, i10 i20, Accent, Swift ,Dzire, Honda City, Honda Jazz, Verna, SX4, Linea, Ikon, Fusion, Optra, Fabia, Indigo Toyota Corolla, Civic, Skoda Ocatvia, Hyundai Elantra, Optra Magnum Honda Accord, Camry, Hyundai Sonata, Skoda Laura, Superb, Passat, Jetta, Teana, Fiat 500 Mercedes, BMW, Audi, Porche and all other imported

Omni, Innova, Xylo, Scorpio, Tavera, Bolero, Victa, Safari CR-V, Endeavour, Pajero, Montero, SUV 14.0+ 75-85 X-Trail, Prado, Tucson, Captiva, Grand Vitara, Mitsubishi Outlander Funding range is indicative. Pre-approved customers could get up to 100% ex-showroom funding in segments A-D. MUV 2.20+ 75-90 Fees & Charges for New Car Loans:

Description of charges

New Car Loans 6 % of POS for preclosures within 1 year from 1st EMI 5% of POS for preclosures within 13-24 months from 1st EMI FC Charges 3% of POS for preclosures post 24 months from 1st EMI No foreclosure allowed within 6 months from date of availing the car loan Stamp Duty At actuals Late Payment Penalty 2% per month Upto 2.5 Lacs : Rs.2150/Processing fees 2.51 to 4 lacs : Rs.3150/> 4 Lacs :Rs. 3650/Cheque swapping charges Rs 500/Loan cancellation / re-booking charges Rs 1000/Duplicate Repayment Schedule Rs 500/charges Legal, Repossession & Incidental At actuals charges Duplicate no due certificate / NOC Rs 500/Transaction fees for Suraksha Kavach Rs 500/- per case Loan Reschedulement charges As applicable at the time of reschedulement Special NOC Rs. 500/- per request

Who can avail of HDFC Bank New Car Loans? We offer New Car Loans to the following: Salaried individuals in the age group of 21 to 60 years (at the end of the tenure) Self-employed individuals in the age group of 21 to 65 years (at the end of the tenure) Partnership Firms Public & Private Ltd. companies HUFs and Trusts

Which cars can be financed? HDFC Bank finances most passenger cars and multi-utility vehicles manufactured by India's leading automobile companies. How much finance can I avail of? You can borrow up to 90% of the invoice value. However, the minimum loan amount is Rs.100000. What are the tenure options? The choice is yours. You can choose any repayment option from 12 to 84 months all specially designed to suit your requirements. How long will it take to process the loan? Within 48 hours of completing documentation. Do I have the option of pre-paying the entire loan amount? Yes. One can pre-pay the loan any time after 6 months of availing of the loan. One merely has to pay a small prepayment fee on the outstanding loan amount. If I don't have an account with HDFC Bank, can I still avail of loans? Of course, you can get HDFC Bank Car Loans. You need not necessarily have an account with us.

Do I need a guarantor? Generally no. But if your income does not meet our credit criteria, then you may be required to have a guarantor to stand surety for your loan.