Deepak Kumar Jha
Head - Business
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Message from the Management
Dear Team,
As we embark on a new year at Chaitanya India Fin Credit Pvt. Ltd., I am filled with pride and gratitude for the remarkable achievements of our Business team and the entire Chaitanya family. Together, we have forged a path of excellence, driving business growth, enhancing operational efficiency, and most importantly, uplifting the lives of millions of poor households across rural India.
We, as a team have showcased the best growth consistently also have maintained one of the highest quality portfolios in the Industry. This was possible because we have been consistently working to build a good high performing team with great culture resulting in great business.
The coming year is going to be more demanding as the expectations of growth along with a decent quality portfolio continues. We will be relooking at how we can serve our customers better. Innovation in product and process will be one of the key focus areas for the company.
Improving discipline, adhering to the defined processes, maintaining the center and branch quality, improving the collection efficiency, ensuring that our staff are treated well across, enhancing our culture to make it more people and performance friendly will be some of the major focus areas in the field for us.
I am confident that as a team we will deliver better than what is expected from us. Wishing you all the very best for the year ahead.
With gratitude,
Deepak Jha
Exploring Boundaries
Milestones Achieved
"Where there is a stepping stone, there is a milestone”
As an organization, we have been working hard to convert every stepping into an admirable milestone. Our exceptional performance this quarter is a testament to our collective efforts.
Celebrating ₹6,000 crores AUM
We are thrilled to share a significant milestone in Chaitanya India's journey: our portfolio has grown to ₹6,000 crores AUM, a testament to the collective efforts, dedication, and hard work of every member of the Chaitanya family. This achievement stands as a beacon of our commitment to excellence and innovation in delivering impactful financial assistance across India.
As we celebrate this milestone, we reaffirm our dedication to embracing innovation and fostering excellence in all aspects of our operations. Our goal remains clear: to become the largest and the best MFI in India. With a steadfast focus on our mission, we will continue to chart new milestones and create lasting impact, weaving opportunities for low-income families to thrive nationwide.
At Chaitanya India, our journey is fueled by the belief that financial inclusion can transform lives. As we look ahead, we are excited to embark on this journey together, empowering individuals and communities to achieve their dreams and build a brighter future for generations to come.
Kaleidoscope of Holistic Development Efforts
Chaitanya places a strong emphasis on fostering continuous learning and personal growth through comprehensive learning and development programs. We firmly believe in the importance of holistic well-being. Therefore, all of our training programs include dedicated physical and mental wellness sessions. Following are some of the ravishing glimpses of the last quarter:
Batch Trainings @ Chaitanya
Since June 2023, our training team has been actively engaged in establishing Chaitanya's training centers nationwide, with the aim of providing comprehensive training to our newly appointed Customer Relations Executives (CREs). These centers, spanning across 13 locations throughout India, serve as hubs for imparting essential process knowledge to our trainee CRE's.
Our approach emphasizes an intensive six-day batch training program designed to equip CREs with the requisite skills and knowledge. The training regimen incorporates innovative techniques such as role-playing exercises and daily assessments to ensure optimal comprehension and retention.
The first day of the program is dedicated entirely to induction, laying the groundwork for understanding Chaitanya's organizational culture, values, and operational protocols. Subsequently, the following five days are devoted to in-depth process training facilitated by experienced trainers.
By adhering to this structured training model, we aim to furnish our trainee CREs with a robust foundation in Chaitanya's processes, products, and operational systems. This comprehensive approach not only enhances their understanding but also equips them with the necessary expertise to excel in their roles. Fostering a win-win situation for both the employees and our organization.
Some glimpses of the batch trainings conducted in this quarter have been shared below:
Sultanpur Training Center - 11th Batch Training
Daltonganj Training Center- 1st Batch Training
Hata Training Center - 12th Batch Training
Aligarh Training Center - 7th Batch Training
Aligarh Training Center - 3rd Batch Training
Daltonganj Training Center - 2nd Batch Training
Bhopal Training Center - 19th Batch Training
Ajmer Training Center - 11th Batch Training
Chitradurga Training Center - 26th Batch Training
Bhopal Training Center - 13th Batch Training
Kalaburagi Training Center - 3rd Batch Training
Sultanpur Training Center - 12th Batch Training
Pudukkottai Training Center - 2nd Batch Training
Aligarh Training Center - 7th Batch Training
Vadodara Training Center - 17th Batch Training
Latur Training Center - 26th Batch Training
Other training initiatives undertaken in this quarter @ Chaitanya
Aurangabad Training Center - Morning Exercise
Hospet Training Center - Induction Training
Kolhapur Region - Induction Training
Hospet Region - Induction Training
Kalaburagi Region - Induction Training
Sultanpur Region - Induction Training
Pune Cluster Office - 2nd Batch of First Time Manager Training
Pune Cluster Office - First Time Manager Training
Consistent performers of the weekly quizzes
(from pan-India branches of our organization)
Nayana G N
Chitradurga, Karnataka
K T Rakesha
Chitradurga, Karnataka
Keerthi G
Chitradurga, Karnataka
B Ramesha
Chitradurga, Karnataka
Chittaiah
Chitradurga, Karnataka
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 (Jan - Mar’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!
10 years and beyond with Chaitanya
Our employees are our strength, our company is an embodiment of our employees hard work and dedication. We value each one of our employees association with us. In here, are the names of our teammates who have completed 10 glorious years with our organization.
Karnataka
Karnataka
Gokak
Gokak
C0383 - Manjunath Siddappa Naik
5 years and growing strong with Chaitanya
Bihar
Bihar
Aurangabad
Aurangabad
C4958 - Rajesh Kumar
C5027- Omprakash Kumar
C5037 - Vikash Kumar
C5215 - Jitendra Kumar Chandravanshi
C5187 - Anil Kumar
Bettiah
Bettiah
C5212 - Pankaj Kumar
Champaran
Champaran
C4954 - Sunil Prasad Bari
Gaya
Gaya
C5038 - Sonu Kumar
C5168 - Deepak Kumar
C5191 - Dularlal Das
Lakhisarai
Lakhisarai
C5021 - Vipin Kumar
C5048 - Santosh Kumar
C5049 - Bablu Kumar
C5050 - Sadabriksh Kumar
Patna
Patna
C4825 - Nishu Raj
Jharkhand
Jharkhand
Hazaribagh
Hazaribagh
C4947 - Dhiraj Kumar
C5213 - Arif Raza
C5167 - Vikram Kumar
Karnataka
Karnataka
Bangalore
Bangalore
CR0048 - Samyuktha S
C5107 - Amina G Bhavikatti
CR0050 - Neha N
CR0051 - Jyoti Appangouda Patil
Chitradurga
Chitradurga
C4859 - Boresha
Dharwad
Dharwad
C4892 - Vaijanath V Bogur
Gokak
Gokak
C4854 - Maruti Ghali
C5147 - Mahadev Maruti Chougale
C5149 - Padmanna Bhirappa Ganeshwadi
C5150 - Vittal Yallappa Ajjankatti
Kalaburagi
Kalaburagi
C4794 - Prashant
C4798 - Bogar Kishor
C4995 - Sunil
C5109 - Parameshwar Lalappa
Shahapur
Shahapur
C4992 - P Ravi
Shivamogga
Shivamogga
C4867 - Shridhara S U
C4985 - Manjappa N
Vijayapura
Vijayapura
C4791 - Mallanagouda Basanagouda Gudihala
Maharashtra
Maharashtra
Aurangabad
Aurangabad
C4939 - Atul Baban Salve
C5060 - Dipak Vijay Ovhal
C5196 - Sarjerao Raosaheb Korde
Latur
Latur
C4852 - Kamble Haridas Dnyanoba
C4976 - Santosh Shesherao Yerme
C4978 - Kiran Ramakant Sonpete
C4979 - Akash Bankat Rathod
Shirur
Shirur
C5158- Sachin Dnyaneshwar Gurav
Uttar Pradesh
Uttar Pradesh
Ayodhya
Ayodhya
C4942 - Pramod Kumar Shukla
Gorakhpur
Gorakhpur
C5057 - Avinash Kumar Verma
C5192 - Satya Prakash Tripathi
Lucknow
Lucknow
C5210 - Sushil Yadav
Maharajganj
Maharajganj
C5165 - Amar Nath Nishad
Varanasi
Varanasi
C5163 - Phiroj Khan
Captivating and Indispensable Insights
Through Chaitanya's Eyes
Ms. Preeti
Khurja, Uttar Pradesh
Creating a long-term meaningful impact in the lives of our customers is our guiding light. At times to inquire about the well-being of our employees at the branch as well as our customers, we are habitual of visiting the branches across the nation. Thus, a team from the Head office of Chaitanya from Bangalore set out for a field visit. Read on, to know more about one of our customer:
We would like to share a story of one of our customers - Ms. Preeti, a spirited entrepreneur, hailing from Bulandshahr. With the support of her family and a loan from Chaitanya, Preeti embarked on a transformative venture that not only uplifted her own livelihood but also revitalized the spirit of her community.
In February 2023, with Chaitanya’s financial assistance of INR 40,000, Preeti took her first step towards realizing her dream. What began as a humble venture has now blossomed into a thriving factory. Each day, Preeti and her dedicated family members mold clay into exquisite products, infusing each piece with the essence of their unique craftsmanship. The journey from raw material to finished product is a labor of love and dedication. After shaping the clay, the products undergo meticulous drying processes in a furnace. The family members then contribute their expertise in painting and adding the finishing touches, ensuring that each creation is a masterpiece in its own right.
Preeti's ambition knows no bounds. Her products, once limited to local markets, now grace the bustling streets of Delhi and beyond. This expansion was made possible by Chaitanya India’s loan, which catalyzed the growth of Preeti's venture.
Preeti's story stands as a testament to the transformative power of entrepreneurship and the significant impact of Chaitanya's support. Her journey from a self-employed artisan to a successful factory owner is an inspiring example of how financial assistance and community support can turn dreams into reality.
CLE trust visit
CLE trust visit
At Chaitanya, transparency isn't just a buzzword; it's woven into the fabric of our culture. Exemplifying the commitment to openness and communication, one of our town hall meeting at our Bangalore facility welcomed Mr. Rahul Pandey and Ms. Leela O M from the CLE Trust. Their dedication to educating children from low-income families and underprivileged backgrounds left an indelible mark on our hearts. Through a blend of online and offline initiatives, they illuminate the lives of these children with the invaluable gift of knowledge.
This initiative emerged in response to the onset of the Covid-19 pandemic, which brought the activities of the CLE Trust to a standstill. In adapting to the new normal, the trustees devised a strategy to continue teaching through online methods. Today, in collaboration with the CLE Trust, Chaitanya operates these learning centers for tribal students aged 6-14 years in rural areas. Over the course of July 2023 to March 2024, we have established 10 learning centers, offering both offline and online classes. These centers are staffed by a total of 10 offline teachers and 17 online teachers, catering to 541 students. Throughout the year, 1295 offline and 579 online classes have been conducted, covering subjects such as English, Math, and Science.
While these initiatives may appear modest, their impact is profound. With sustained support, they have the potential to transform the promising minds of rural villages into the luminaries of tomorrow. We take great pride in championing noble causes such as this and actively encourage our team members to consider volunteering with them, thereby contributing to a brighter future for the communities we are privileged to serve.
Fitness Enthusiasts of Chaitanya
Mr. Imran Khan
Cyber Security
Program Manager
Bangalore
Transformative journey of Imran - losing 8 kg's - Prioritizing health, overcoming challenges, and finding joy
Imran's fitness journey is a testament to the power of dedication and self-discovery. It all began with an observation that even healthy people are getting heart attacks, we know how Kannada film star Puneet Rajkumar who was a regular at the gym also succumbed to a heart attack at the young age of 46.
Imran is a new father, with his baby being just 11 months old, it became a pivotal decision for him to prioritize his health and well-being for his baby, a choice that set him on a transformative path towards a healthier and happier life.
Setting realistic goals was the cornerstone of Imran's journey. With a balanced focus on both physical and mental fitness, he embarked on a quest to sculpt not just his body but also his mindset. Incorporating a nutritious diet and regular exercise into his daily routine became non-negotiables, forming the backbone of his newfound lifestyle. Imran's commitment and discipline remained unwavering, even in the face of challenges and setbacks. He embraced each hurdle as an opportunity for growth, learning valuable lessons along the way and adapting his approach accordingly.
One of the most rewarding aspects of Imran's journey was the discovery of activities that truly ignited his passion, like hiking and yoga. These pursuits not only fueled his physical transformation but also brought him immense joy and fulfillment. Celebrating small victories became a ritual for Imran, he lost a phenomenal 8 kg's along the way, serving as a milestone to mark his progress and fuel his motivation to push further. Surrounded by a supportive network of colleagues, friends and family, he found strength and accountability in their encouragement. Today, Imran's fitness journey continues to evolve, a perpetual quest towards self-improvement and well-being. With newfound energy levels and confidence, he stands as living proof that with commitment and perseverance, anyone can achieve their fitness goals and lead a fulfilling life.
Chaitanya's Women's Day Celebrations
On 11th March 2024, Chaitanya India honoured the incredible women in our organization by celebrating International Women's Day at all our facilities across India. The day was marked with engaging games and activities at our field offices, where our women employees were also presented with thoughtful gifts. A delightful cake cutting ceremony added to the festive atmosphere, fostering a sense of camaraderie and appreciation.
At our Bangalore headquarters, the celebration reached new heights as the office was adorned with beautiful decorations. This visual spectacle welcomed our women employees with warmth and appreciation. In addition to the festive ambiance, we prioritized the health and well-being of our female workforce by organizing free dental check-ups and health screenings for everyone. This initiative underscores our commitment to recognizing and supporting the women in our organization while promoting a healthy lifestyle for all.
At Chaitanya India, we understand the invaluable contributions of women to our organization and society at large. By celebrating International Women's Day in such a meaningful way, we reaffirm our dedication to fostering an inclusive and supportive workplace where every individual can thrive.
Departmental Spotlight
Departmental Spotlight
This space intends to give a sneak peek at the various departments of our organization. In this feature, we have spotlighted our QC & Credit department.
At Chaitanya India Fin Credit Pvt Ltd, under the adept leadership of Mr. Manjunath BV, the QC (Quality Check) and Credit teams play pivotal roles in ensuring the customer profile of the company's operations and the satisfaction of its customers. Let's delve into the responsibilities and functions of each team:
Quality Check (QC) Team
Led by a meticulous approach, the QC team undertakes high-level hygiene checks to uphold the quality and accuracy of processes. Their responsibilities encompass:
Document screening: Thoroughly examining customer KYCs to ensure compliance and accuracy, thus eliminating erroneous entries.
Data validation: Verifying the authenticity of information and data provided by customers, ensuring that only valid KYCs are processed.
Automation: Implementing automated solutions wherever feasible to streamline processes and minimize errors, thus enhancing efficiency.
Error reduction: Employing stringent measures to minimize errors in data capturing and processing, thereby maintaining the integrity of the company's operations.
Field visits: Conducting regular field visits to identify any process gaps firsthand, ensuring continuous improvement and adherence to established standards.
Credit Team
The Credit team, often synonymous with the quality checking department, is primarily responsible for assessing the financial viability of customers and ensuring prudent lending practices. Their key responsibilities include:
Customer onboarding: Through a meticulous understanding of customers' financial status and cash flow analysis, the Credit team facilitates seamless onboarding while mitigating risks.
Income assessment: Conducting verifications and analyzing customer profiles to assess income levels, thereby determining the creditworthiness of applicants.
Risk mitigation: Utilizing deviation matrices and credit history analysis to distinguish between good and bad customers, thus minimizing the risk of default and enhancing the quality of the loan portfolio.
Virtual underwriting: Embracing technological advancements, the team aims to automate the credit and underwriting processes, paving the way for virtual underwriting and greater efficiency.
Long-Term Plans: Beyond immediate objectives, the company harbours long-term aspirations, including the following-
Automation of processes: Continuously striving to automate credit and underwriting processes, thereby improving efficiency and reducing manual intervention.
Employee skill enhancement: Focusing on uplifting the skill set of employees through ongoing training programs, ensuring they remain abreast of industry developments and best practices.
Policy strengthening: Committing to maintaining robust processes and policies to underwrite loans effectively, thereby safeguarding the interests of both the company and its customers.
In summary, under the guidance of Mr. Manjunath BV, the QC (which comprises of 223 employees) and Credit (188 employees) teams at Chaitanya India are committed to upholding the highest standards of quality, efficiency, and customer satisfaction, while continuously striving for innovation and improvement in their processes and operations.
Through this communication, we aim to establish a regular channel of contact with you. Our purpose is to keep you updated on the latest developments within our organization on a quarterly basis. The Corporate Communications team expresses its gratitude to all our fellow colleagues who continuously share their journey @Chaitanya with us.
If you have something interesting to share, such as pictures of your team's activities, an intriguing story from a field visit, an encounter with an exceptional customer, or even a thought-provoking article you came across, we encourage you to reach out to us at communication@chaitanyaindia.in. We eagerly anticipate more contributions in the future.
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