Consistent performers of the weekly quizzes 

(from pan-India branches of our organization)

The weekly quiz on process and policies, introduced as a novel initiative by the training team, has become a cornerstone of knowledge enhancement within the organization. Remarkably, the aforementioned CREs have showcased exemplary performances throughout this quarter's (April - June’24) quizzes, consistently demonstrating their deep understanding and mastery of the subject matter. 

The training team shares 5 process related questions, these are assigned to the concerned employees with the help of our HRMS platform - PeopleStrong. Since the questions are majorly assigned to CRE’s the training team translates these questions to 4 languages - Hindi, Kannada, Tamil and Odia for their convenience. The questions are generally assigned from CRE to Regional Manager (RM) level.  

A hearty congratulations to the consistent performers and we look forward to having many more of our employees names mentioned in our next issue of the newsletter!

 Departmental Spotlight -Treasury Department

(Fundraising and Treasury Functions)

At Chaitanya, the Treasury Department, comprises a dedicated team of 12 members whose collaborative efforts ensure the financial stability and growth of our organization. The department is structured into two key verticals: Fundraising and routine treasury functions. The primary responsibility of managing liquidity is at the core of the treasury team's mission, ensuring the organization always maintains sufficient cash and working capital to meet financial obligations. This involves prudent short-term investment management, cash flow forecasting, and strategic decision-making related to funding, investments, and risk management. Furthermore, the team excels in corporate finance, making informed decisions that drive growth and profitability through meticulous financial data analysis and managing both loan and non-loan disbursals efficiently.

The treasury department also plays a crucial role in debt servicing, banking operations, stakeholder management, and risk mitigation. They ensure timely interest and principal repayments, optimize cash flow through effective banking operations, and maintain robust relationships with bankers, lenders, auditors, vendors, and regulatory bodies. The team's efforts in stakeholder management build trust and transparency, essential for Chaitanya's operational success. By identifying and mitigating financial risks, the treasury department upholds the organization's commitment to stability and profitability. Their governance and reporting practices are instrumental in maintaining our financial health and supporting our mission to provide affordable financial services to low-income households.

In the realm of fundraising, the team manages the organization’s debt portfolio, proactively handling borrowing strategies to secure favorable terms and reduce overall debt costs. They are actively involved in asset transfers and co-lending activities, ensuring sufficient liquidity for operational needs. The fundraising team also oversees cash flow forecasting, credit rating updates, and cash reserve optimization. 

Their diligent efforts in reporting, covenant tracking, and compliance with regulatory requirements have resulted in significant achievements. In the financial year 23-24, they successfully raised over INR 5700 crore in borrowings and persevered to achieve a two-notch upgrade in credit rating from A/Stable to AA-/Stable by CARE and CRISIL Ratings, reflecting Chaitanya’s strong financial performance and sound management practices.

Karnataka

 Bihar

Karnataka

Captivating and Indispensable Insights

Fitness Enthusiasts of Chaitanya

In our recent virtual Field town hall last quarter several key topics were discussed to align our collective efforts towards achieving our organizational goals. Updates on our business performance, highlights of the significant organizational milestones and future growth strategies were discussed.

A comprehensive review of our manpower planning was conducted to ensure we continue to attract and retain top talent. Our company mission was reiterated, emphasizing our commitment to empowering low income families with financial inclusion. Additionally, we introduced the Central Helpdesk, a new initiative aimed at enhancing support and streamlining communication across all branches.

The session also included an interactive Q&A session where the HOD’s and Anand Sir (JMD) addressed queries from employees across PAN India, fostering a shared understanding and reinforcing our dedication to excellence and customer service. 

On May 24th, 2024, our Bangalore facility hosted an unforgettable year-end celebration. The event was a perfect blend of talent, entertainment, and recognition, making it a night to remember for all the HO Chaitanyaites.

The evening began with a heartwarming address from our Joint Managing Director, Mr. Anand Rao. His speech applauded the team's hard work and dedication throughout the year, highlighting our collective achievements and the spirit that propels us forward. Awards were given in multiple categories to employees who excelled in the last financial year, as well as to those who completed five years with Chaitanya. This recognition celebrated not only individual accomplishments but also the enduring commitment and loyalty of our teamates.

The night was alive with melodious tunes that got everyone grooving. A mesmerizing Karagam performance by a Limca Book of Records winner showcased the rich cultural heritage of our country, leaving the audience spellbound. Adding to the evening's charm, our own HR teammates presented a unique mime act that beautifully depicted how Chaitanya is impacting countless lives in rural India, bestowing them with better standard of living. This performance left a lasting impression on all Chaitanyaites, illustrating our mission and values through an amazing creative expression.

It was truly a night of joy, appreciation, and camaraderie, reflecting the vibrant and dynamic spirit of our organization.