Ganesh K V
Head - Internal Audit
Ganesh K V
Head - Internal Audit
Message from the Management
We are at the halfway mark of the financial year and no doubt this has been a challenging one for us. The challenges have been two-fold, both internal and external. As we all know we are navigating through the merger process of two large entities and so far with the support of all, it has been smooth. The structure has been announced for the field functions and the new guard has taken over. We are now all set to become the best MFI in the country.
The external environment has been challenging as we have seen defaults going up in certain pockets. This is the time for us to get back to basics and play to our strengths. The focus has to be on getting to follow the right process and ensure that centre and branch quality standards are met. We will work on improving the service quality to customers by innovating products and services to ensure good customers are retained. We have shown that as a team we have overcome crises in the past and that has been possible by keeping our focus on internal processes and support to field staff to ensure high quality customer service. The role of each one of us is crucial to ensure we reach our objectives.
In the coming months we will see integration of two teams at various levels leveraging the best of all talents available. I am confident that we will come out stronger and better. Here is wishing all a very happy festive season and a great year ahead.
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.
We are thrilled to share that India Ratings has upgraded Chaitanya India’s rating to "IND AA/- Stable" in August 2024. This significant milestone underscores the strength of our company’s growth, robust operational performance, and solid capitalization profile.
This upgrade reflects not just numbers, but the firm commitment of the entire Chaitanya team towards driving financial inclusion and empowering communities across India. It is a testament to our resilience in overcoming challenges, our dedication to responsible growth, and, most importantly, the trust our stakeholders place in us.
As we continue this remarkable journey, we are focused on maintaining our momentum and delivering meaningful impact in the communities we serve.
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 glimpses of the last quarter:
Bihar North -21st Batch Training
Bihar North - 26th Batch Training
Bihar North- 22nd Batch Training
Bihar North - 29th Batch Training
Ayodhya - BM & ABM Refresher Training
Ayodhya - CREs Refresher Training
Gadag - ABMs Refresher Training
Dharwad - 1st Time Manager Training
Gokak - BMs Refresher Training
Tamil Nadu - Credit Refresher Training
Haveri - BMs Refresher Training
Hazaribagh - Unit CRE Refresher Training
Tamil Nadu - UMs Induction Training
Tamil Nadu - Business and Suport team with MD
Ranchi - 1st Time Manager Training
Ranchi - 6th Batch Training
Ranchi - 10th Batch Training
Ranchi - 14th Batch Training
Ranchi - 16th Batch Training
South Zone - L & D Meet
Sultanpur - Batch 22nd TCRE Classroom Training
Sultanpur - Batch 32nd TCRE Classroom Training
Sultanpur - Batch 34th TCRE Classroom Training
Sultanpur - Batch 31st TCRE Morning Yoga Training
Madurai - UM Refresher Training
Madhya Pradesh- UMs Refresher Training
Rajasthan - UMs refresher training
Gujarat - UMs Refresher Training
Consistent performers of the weekly quizzes
(from pan-India branches of our organization)
Our CREs have consistently excelled in the weekly quizzes on process and policies, showcasing their deep knowledge and commitment. This initiative, undertaken by Training team powered by our HRMS platform, ensures all employees from CRE to RM levels stay sharp, with questions available in multiple languages for their convenience.
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! Here are the names of our consistent performers of this quarter - July - September’24:
Rajesha U
Gudekota Branch Kudligi Unit
A Raja
Kudligi Branch Kudligi Unit
Ibrahim Husen Shaikh
Renapur Branch Murud Unit
Kotreshagowda A M
Hoovina Branch Hadagali Unit
Sagar
Radaur Branch Nilokheri Unit
Sudeepa K
Bharamasagara Branch Chitradurga Unit
(The backbone of our Operations)
The Admin Department at our organization serves as the vital force ensuring smooth and efficient operations across the organization. Without the meticulous efforts of this department, led by Kupputhangadurai G, none of Chaitanya's day-to-day operations would function seamlessly. Their commitment to operational excellence touches every aspect of the company's functioning, from setting up new branches to implementing innovative projects, contributing to our overall success.
Key Initiatives and Achievements
Centralized Vendor Management: In Madhya Pradesh, Maharashtra, and Gujarat, the procurement process has been centralized, reducing complexities and saving approximately ₹18,000 per branch. This has significantly improved procurement efficiency for materials and services during branch setups.
Timely Branch Setups: The Admin team has successfully set up nearly 40 new branches within the stipulated turnaround time (TAT), ensuring smooth operations from day one.
Standard Operating Procedures (SOPs): A total of 34 SOPs have been developed and implemented, setting a high standard for administrative consistency and quality across all operations.
Service Quality: With a service rating consistently above 4.0, the department continues to deliver excellence, maintaining high service quality and customer satisfaction.
HR Tracker Implementation: By integrating mobile numbers of employees from all zones into the HR tracker, communication has been streamlined, significantly improving connectivity within the organization.
Corporate Social Responsibility (CSR): The Admin Department has also actively contributed to CSR initiatives, successfully completing projects within time and budget, demonstrating their versatility beyond operational roles.
Innovative Process Enhancements
The Admin Department's continuous focus on innovation has led to several impactful projects:
One Branch, One SIM & Mobile: This initiative ensures that each branch has a dedicated SIM and mobile device, enhancing communication capabilities and improving overall efficiency.
Safe Locker Procurement: By simplifying the procurement process for safe lockers, the department has bolstered security for sensitive documents and assets across branches.
Inverter & Battery Maintenance: The repair and maintenance processes have been streamlined, minimizing downtime and ensuring operational continuity.
Courier Management: Direct dispatch of courier items from the Corporate Office to branches has eliminated delays, significantly enhancing delivery efficiency.
SIM Requests & CRE Bag Management: Simplifying the processes around SIM requests and CRE bag amounts has not only reduced email traffic but also improved response times and transparency in financial handling.
The department conducts daily huddle meetings to ensure that operational gaps are addressed, tasks are aligned, and project progress is monitored, helping maintain clear communication and focus.
The Admin Department’s attention to detail, commitment to operational efficiency, and dedication to innovation continue to support Chaitanya India’s growth. Under the leadership of Kupputhangadurai G, this department remains the backbone of our operations, ensuring we are always ready to meet the evolving needs of our employees and customers. As we expand, the Admin Department's critical role in sustaining Chaitanya’s success becomes even more indispensable.
15 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 15 glorious years with our organization.
C0008 - Suresha S M
C0009 - Naveen Kumar H
10 years and growing strong with Chaitanya
C0487 - Sangappa
5 years of commitment and counting with Chaitanya
C5905 - Shailendra Kumar
C5819 - Mukesh Kumar
C5823 - Swarn Tilak
C5965 - Mantu Kumar
C6019 - Aditya Kumar Dubey
C5579 - Gunjan Kumar Mishra
C5832 - Santosh Kumar Gupta
C6012 - Munna Kumar
C5811 - Uday Shanker Kumar
C6035 - Sumit Kumar
C5609 - Rajeev Ranjan
C5613 - Bikram Kumar
C5810 - Pankaj Kumar
C5817 - Sudhir Kumar
C5596 - Parveen Kumar
C5903 - Ambuj Ray
C5603 - Chandra Shekhar Kumar
C5808 - Shalendra Manjhi
C5818 - Dinesh Kumar
C5595 - Shankar Prasad Gupta
C5816 - Kumar Aman
C5954 - Vikash Bharti
C5957 - Sunny Kumar
C5805 - Nageshwar Kumar Saw
C5849 - Dharmendra Singh
C5589 - Anand Mahto
C5955 - Harendra Mahto
C5651 - Basavaraju A
C5877- Shrishail Yallatti
C5941 - Vitthal Ashok Talanatti
C6022 - Nagendra Huliya Gouda
C6044 - Nagaraja M A
C5556 - Santosh Kumar
C5739 - Chandrakant
C6014 - Siddaram
C5706 - Annappa T P
C5528 - Parveen
C5637 - Nagaraj
C5964 - Jagadeesh
C6041 - Basavaraj
C5777 - Sangappa Shivanand Somanakatti
C5519 - Ankush Devidas Kudar
C5649 - Ambresh Patingrao Ghode
C5678 - Sunita Uttam Salve
C5687 - Angad Gorkhanath Sonsale
C5861 - Suraj Santosh Kashid
C5990 - Mahadev Kundlik Gore
C5996 - Balaji Chandrakant Pawar
C5882 - Ramesh Pandurang Bavkar
C5569 - Tejaswini Amol Gumate
C5621 - Hasan Shabbir Shaikh
C5748 - Sandip Ratilal Pandhare
C5732 - Sayabu
C5586 - Abhinav Gupta
C5930 - Dileep Kumar Gautam
C5585 - Kundan Kumar Shukla
C5924 - Teja Prasad
C5937 - Ajay Kumar Bharti
C5536 - Abhishek Kumar
Captivating and Indispensable Insights
Through Chaitanya's Eyes
Rathnamma's Journey: Empowered through Sericulture
Rathnamma, from Kembuthagere village, Malavalli taluka in Mandya district, Karnataka has been dedicated to the intricate art of sericulture for over 20 years. Sericulture, the cultivation of silkworms to produce silk, is a highly labour-intensive but rewarding practice that has been a significant source of livelihood for her family. The process involves nurturing silkworms through their lifecycle until they form cocoons, which are then harvested for their silk—a valuable commodity in the textile industry.
Through her dedication to sericulture, Rathnamma has played a crucial role in supporting her family of five, with her husband engaged in agriculture and her son working in a private company. Her expertise in silkworm rearing has enabled her to contribute to her family's financial stability.
However, her journey took a significant leap when she received financial support from our organization Chaitanya India. With a loan of ₹50,000, Rathnamma was able to expand her operations, improve productivity, and further invest in her business. This financial backing not only boosted her income but also provided her the means to uplift her family's standard of living.
Rathnamma's story exemplifies the impact that microfinance can have on rural entrepreneurs, especially in traditional occupations like sericulture. With Chaitanya India's support, she continues to thrive, contributing to her community and serving as an inspiration to others who dream of financial independence through hard work and dedication.
Elevating skills through Trainings
At Chaitanya India, continuous learning isn't just encouraged—it's a way of life. Last quarter, our Head Office employees participated in a series of transformative training sessions as part of a novel HR initiative designed to foster both personal and professional growth. The impact was profound, as all participants walked away enriched, with many stating that these sessions were game changers for their work and daily routines.
The "Balanced Living" session truly resonated with employees, shedding light on the vital connection between fitness, nutrition, and mental health. Many discovered how small changes in lifestyle could significantly enhance workplace productivity and overall well-being.
The "Dynamic Communication" session offered practical techniques for clear, assertive interactions, and employees found themselves better equipped to build lasting professional relationships. This was particularly eye-opening for those who had previously struggled with communication challenges.
For those outside the finance realm, the "Finance for Non-Finance Professionals" session demystified complex financial concepts. Many participants expressed how empowered they felt, realizing they could now confidently make informed financial decisions in both personal and work-related situations.
In today’s fast-evolving world, "Effective Decision-Making in a VUCA World" provided a fresh perspective on navigating volatility, uncertainty, complexity, and ambiguity. Employees gained new tools to make sound decisions even in challenging environments, transforming their approach to problem-solving.
Finally, the "Excelling through MS Excel" session unlocked the potential of this everyday tool in ways most had not considered. For many, this session was a revelation, demonstrating how Excel could be used to tackle both professional and personal challenges with greater efficiency.
This initiative was a true learning milestone, enriching every employee involved and aligning them with Chaitanya India’s commitment to continuous development. Training is not just about skill development—it's a key investment in the future of our workforce. At Chaitanya India, we believe that the true success of any organization lies in the growth of its people. These transformative sessions not only sharpened employees' abilities but also fostered a culture of lifelong learning. By equipping our teams with the tools to excel, adapt, and innovate, we are ensuring their continuous evolution alongside the company.
The enthusiastic responses from participants in this quarter's sessions highlight the tangible improvements in their work and personal lives. As we move forward, we will continue to prioritize training as a core component of our mission, ensuring that our employees are well-prepared for the challenges of tomorrow.
Fitness Initiative: Building team spirit and staying fit
At Chaitanya, we believe in the power of physical activity to not only boost health but also foster team spirit and collaboration. That’s why our Head Office has introduced a fitness initiative where the admin team books turfs for our teammates on weekends. With the company sponsoring popular sports like cricket, football, and badminton, teammates have the opportunity to gather, play, and enjoy some much-needed physical activity.
This initiative has quickly become a favorite among our teammates. Whether it's an intense cricket match, a fast-paced football game, or a friendly badminton rally, there’s an undeniable excitement as colleagues come together outside of their usual work environment. The competitive spirit, mixed with laughter and camaraderie, creates a vibrant atmosphere that many look forward to each weekend. Our teammates frequently share how these games offer them a refreshing break from the workweek, helping them recharge both mentally and physically.
More than just a physical outlet, these activities have fostered connections among teammates from different departments who might not typically interact. Whether they are teaming up in a football match or cheering each other on during a badminton game, the sense of togetherness and mutual support is evident. These interactions strengthen workplace relationships, creating a stronger, more united team across the board.
By promoting fitness and teamwork, Chaitanya continues to prioritize the well-being of its teammates, ensuring a balanced work-life routine. This fitness initiative is not only about staying active but also about building stronger teams and relationships, both on and off the court.
Our teammates are thrilled to have these opportunities to play and engage in sports, with many expressing how much they enjoy these weekends filled with friendly competition and fun. We look forward to even more participation as this initiative continues to inspire health, happiness, and a sense of togetherness.
A comprehensive update on our CSR activities:
Flood relief efforts
Our CSR team extended critical support to families affected by floods in Karnataka and Maharashtra. Grocery kits, bedspreads, and mats were distributed to 1,900 families across 49 villages. This aid provided immediate relief to those impacted by the devastation. Our teams in Gokak and Kumta played a key role in distributing the items, ensuring the CSR outreach benefitted the most vulnerable.
Education initiative: Learning centers
Under our education project, the Learning Centers in Palamu district, Jharkhand, have been a beacon of hope for young minds. Operating in partnership with the CLE Trust, the centers cater to 480 students across 10 locations, offering a hybrid of online and offline teaching. The after-school program, running from 3:30 p.m. to 6:30 p.m., has consistently engaged students, helping bridge the education gap and providing a better future for these children.
Mobile Health Unit (MHU)
Our mobile health unit in Gaya district, Bihar, continues to provide essential healthcare services to remote villages. From July to September 2024, over 5,180 people (2,020 men and 3,160 women) received medical attention. Common conditions treated include BP, sugar, arthritis, anemia, dermatitis, muscle pain, and gastritis. The MHU also referred four cases for higher-level medical care. In addition, health awareness programs were conducted to educate communities on maintaining their well-being.
Afforestation program
Our afforestation efforts, initiated last year in Jagalur, Davangere district, Karnataka are now under maintenance. In collaboration with school teachers and SDMC members, the planted areas have been well-maintained, with water supplies and protection ensuring the young trees thrive. As of September 2024, the plants are 11 months old and growing healthily, reinforcing our commitment to environmental sustainability.
Our Bengaluru headquarters in this quarter witnessed two beautiful celebrations—Ganesh Chaturthi and Onam—that strengthened our workplace bond and reminded us of the importance of togetherness.
During the Ganesh Chaturthi celebration, our team gathered in vibrant ethnic wear, participating in a heartfelt pooja that filled the office with positivity. The space was adorned with colourful decorations, and the occasion was marked by the sharing of snacks, smiles, and joyous conversations. The day not only celebrated the divine blessings of Lord Ganesha but also brought out the strength of our Chaitanya India family.
Soon after, we welcomed the vibrant festival of Onam. Our team indulged in a delightful Onam Sadhya, savouring traditional Kerala dishes that symbolized the harvest season. This festive lunch became more than just a meal—it was a moment of bonding, laughter, and shared cultural heritage. The joyful spirit of Onam was beautifully captured as we came together, enjoying the richness of tradition and unity.
As we celebrate these festivals, we are reminded that our collective happiness, prosperity, and success are built on the foundation of togetherness. Wishing everyone the blessings of these wonderful festivals!
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.