Ms. Akhila Srinivasan among Forbes ‘50 Power … Breeze/March 2015...Akhila is the recipient of...

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Shriram City - News Letter - Breeze - 1st March 2015

“Whenever you see a successful business, someone once made a courageous decision.” - Peter Drucker

1st MARCH 2015

It gives us immense pleasure to report that Ms.

Akhila Srinivasan, Managing Director of Shriram Life

Insurance Co Ltd, has been featured as one of the

50 Power Businesswomen in Asia for 2015 by Forbes

Magazine. Ms. Akhila is one of the Directors of the

Shriram Group, and part of the Shriram Ownership Trust

which holds the parent company – Shriram Capital

Limited. She is among the key Board Level Executives of

the $13.3 billion Shriram Group, and its only female

Managing Director.

Strategizing of business models, building effective

winning teams and forging productive relationships with all

the stakeholders have been Ms. Akhila’s forte. She is also

the Managing Trustee of Shriram Foundation which runs

schools in rural villages for marginalized children and

currently has 15,000 beneficiaries. Under her leadership,

Shriram Life is now one of the top five private insurers in India in terms of profitability. Total premi-

ums collected have surged almost 17-fold in 7 years to $695 million.

Ms. Akhila is one of 6 Indian women to feature in the prestigious list, the others being

Ms. Arundhati Bhattacharya (CMD, State Bank of India), Ms. Chanda Kochar (MD & CEO, ICICI Bank),

Ms. Kiran Mazumdar Shaw (Founder, Biocon), Ms. Shikha Sharma (MD & CEO, Axis Bank), and

Ms. Usha Sangwan (MD, LIC of India). Ms. Akhila is the recipient of numerous business awards and

has featured twice in Business Today’s annual list of the 25 most powerful businesswomen in India.

We take this opportunity to congratulate Ms. Akhila Srinivasan on this

achievement, and wish her many more laurels in the days ahead!

Ms. Akhila Srinivasan among Forbes ‘50 Power Businesswomen’

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BUDGET 2015 For the benefit of all SCUFians, here’s a summary of the key features of the latest

Budget. Let’s see what the Railway and Union Budgets have to offer this year.

Railway Budget - 26th February 2015

52% increase in Plan Outlay to Rs.1,00,011 crores, of which 17% is to be funded through

Institutional Finance.

The Net Revenue Estimate for 2014-15 is Rs.16,453 crores as against Rs.11,749 crores

revenue in 2013-14. The estimated revenue for 2015-16 is Rs.25,076 crores.

Key Features

Increase Daily Passenger Carrying Capacity from 21 Million to 30

Million

Increase Track Length by 20% from 114000 kms to 138000 kms

Increase Annual Freight Capacity from 1 Billion to 1.2 Billion tonnes

77 projects totalling to Rs.96182 crores to expand capacity

Rs.2000 crores for Coastal Connectivity

Rs.6581 crores to eliminate Level Crossings, build Underpasses &

Bridges

9 High- Speed Rail Corridors to be set up

6000 kms of route km to be electrified this year.

Book Rail Tickets 4 months in Advance

For Unreserved Passengers, booking will take no longer than five

minutes through “Operation 5-minutes”

Button / Coin-Vending Machines for Railway Tickets

Order food online from some of the best food chains – Dominos

Pizza is the first to hop onto the bandwagon !!!

Disposable bed linen in trains can be booked through IRCTC Website

For Senior Citizens & Differently- abled : Wheel chairs & retiring

rooms can be booked online for few stations

Integrated Customer Portal to be launched soon to avail various

services.

SMS for Arrival / Departure Updates

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BUDGET 2015 - contd.

Key Features

Improved Passenger Facilities in 200 more stations under “Adarsh

Station” Scheme

Self-operated lockers to be made available

Uninterrupted Internet at all A1 & A Category stations through WIFI

and also at few B Category Stations

See Arrival/Departure updates at more than 2000 stations via

Railway Display Network

Satellite Railway terminals to be set up to help Suburban Passengers

board trains

New Dept for Cleanliness of Stations

New toilets at 650 stations

17000 toilets in train coaches to be replaced by bio-toilets

Built-in dustbins to be provided in non-AC coaches

Programme for improving design, quality & cleanliness of bed linen

to be introduced within 6 months.

Facility for Mobile Phone Charging in General Comparments

High Quality food to be served by building base kitchens, operated

by credible agencies

Climbing upper berths to be easier by implementing new ladders de-

signed by National Institute of Design

24*7 Complaint Helpline 138 and Security Related Helpline 182

Surveillance Cameras in Suburban Trains for Women’s Safety

On-board Entertainment on select Shatabdi Trains

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Finance Budget - 28th February 2015

Key features

INDIVIDUALS

Tax Exemption can go up to Rs.44200

Transport Allowance increased from Rs.800 to Rs.1600 per month

Deduction for health insurance premium hiked from Rs.15000 to Rs.25000

Same Deduction hiked for Senior Citizens from Rs.20000 to Rs.30000

For Senior Citizens, 80 & above, deduction of Rs.30000 on treatment costs

Additional deduction of Rs.25000 for disabled

Deduction of Pension Fund/NPS contribution hiked from Rs.1 lakh to Rs.1.5

lakh

Additional deduction of Rs.50000 for contribution to NPS under Section

80CCD

Wealth Tax to be abolished

Additional Surcharge of 2% on Super-Rich with taxable income of over Rs.1

crore

COMPANIES Corporate Tax to be reduced from 30% to 25% over the next 4 years

Rationalisation & Removal of various Tax Exemptions

GST (Goods & Service Tax) to come into force from April 1, 2015

Service Tax to increase from 12% to 14%

Income Tax on Royalty/Fees for Technical Services cut from 25% to 10%

Clean Energy Cess hiked from Rs.100 to Rs.200 per tonne of coal

FINANCIAL SECTOR FMC to be merged with SEBI

NBFCs having asset size of Rs.500 crore to be covered by Sarfaesi Act,

2002

New Bankruptcy Code to be established

General Anti Avoidance Rules (GAAR) will be deferred by two years

Capital Gains Tax for REITs to be rationalised

INFRASTRUCTURE Total Allocation : Rs.70000 crores

National Investment & Infrastructure Fund with a corpus of Rs.20000 crores

5 new Ultra Mega Power Projects of 4000 MWs each in plug-and-play

mode

Tax-free infrastructure bonds for projects in rail, road and irrigation setors

Additional 100000km of roads to be built

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*Amounts in Rupees

AGRICULTURE &

RURAL DEVELOPMENT

Agricultural credit target : Rs.8.5 lakh crore

Rs.25000 crores for Rural Infrastructure Development bank

Rs.34699 crores initial allocation for MGNREGA

Rs.45000 crore for Short Term Cooperative Rural Credit Refinance Fund

SOCIAL SECURITY PM Suraksha Bima Yojana with accidental death cover of Rs.2 lakh

Atal Pension Yojana with government contributing 50% of the premium

PM Jeevan Jyoti Bima Yojana : natural / accidental death cover upto

Rs.2 lakh

Rs.9000 crore unclaimed in PPF/EPF to be used for a Senior Citizen

Fund

GOLD Gold Monetisation Scheme to replace existing schemes

Sovereign Gold Bond proposed

Indian Gold Coin to be developed with Ashoka Chakra on its face

MICROFINANCE

Micro Units Development Refinance Agency (MUDRA) Bank to be set up

with a corpus of Rs.20000 crore.

Tax Incentive Instruments Earlier Pro- Total possible IT deduction Amount

Health Insurance Premium 15,000 25,000 Under Section 80C (Life Insur-

ance, ELSS, Housing Loan Princi-

pal, NSC, PPF, etc)

1,50,000

Health Insurance Premium (Sr Citizen

below 80)

20,000 30,000 Under Section 80CCD (Payment

towards New Pension Scheme) 50,000

Health Insurance Premium (Sr Citizen

above 80)

- 30,000 Interest on Housing Loan 2,00,000

Deduction for expenditure on specified

diseases

60,000 80,000 Under Section 80D on Health

Insurance Premium 25,000

Deduction for maintenance/treatment of

disabled dependents

50,000 75,000 Exemption of Transport Allowance 19,200

Contribution to Pension Fund/ new Pen-

sion Scheme

1,00,00

0

1,50,000 TOTAL 4,42,000

Additional deduction for investment in

new Pension Scheme

- 50,000

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We wish all our women employees a very happy

INTERNATIONAL WOMEN’S DAY!

What becomes cheaper

Locally manufactured mobile handsets and

LED lamps

Leather footwear

Pacemakers & Ambulances

Incense Sticks

Solar water heater systems

Wafers for manufacture of IC modules for

smart cards

What becomes costlier

Imported mobile phones, tablets, computers

Insurance premiums, brokerage fees

Airfares for Business and Executives

Tickets to Amusement parks, Water parks

and unrecognized sporting events

Condensed milk

Aerated water, iced tea, lemonade & other

beverages containing added sugar

Peanut butter

Snacks and bags (including cones) of plastic

Cut tobacco, cigarettes

Cement

By

Ms. Sandhya Iyer

Credit Team, Santhome

INTERNATIONAL WOMEN’S DAY - 8TH MARCH 2015

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Did You Know Series (DYKS) - 19

PART I – Rules of DYKS

The details and rules of the DYKS are as follows:

Each issue will contain 3 multiple answer questions

All staff members are eligible and are encouraged to reply to the questions

All replies to be sent only to [email protected]

The mails should be sent from the official mail ID of the employee.

The response mail should be as follows:

The name of the staff from whom the first correct response comes will be published in the subsequent issue of ‘Breeze’. This will be done for each of the states.

======================================================================

PART II – Answers to Quiz of February 2015 issue

SNo. Required Information Employee Entry / Answer to quiz

1 Employee Name

2 Employee Number

3 Designation

4 Email ID

5 Branch code and name

6 State

7 Answers:1

2

3

SNo Question Answer

1

Calculate the Loan To Value (LTV) in the fol-

lowing example: Vehicle cost-68500, Down Payment 18500,Gross

Loan Amount-50000, EMI-2800, Advance EMI

Nos.2, Advance EMI Amount -5600, Processing

Fees-1000, Stamp Charges-200, Net Loan

Amount 44400

b. 64.82% Vehicle cost 68500.00 Down Payment 18500.00 Gross Loan Amount 50000.00 EMI 2800.00 No. of Advance EMI’s 2.00

44400 X100 Value of Advance EMI’s 5600.00

68500 Processing Fees 1000.00 Stamp Charges 200.00 Ans. = 64.82% Net Loan Amount 44400.00

2

As per RBI, Electronic Clearing Service (ECS) is

going to be closed and only ACH (Automated

Clearing House) will be available. The last date

for receiving ECS mandates is :

c. 31 March 2015

3 What is Shriram City “YUVA”??(Refer our web-

site www.shriramcity.in) d. Fixed Deposit of Shriram City for people below 35

years

mailto:[email protected]

http://www.shriramcity.in

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PART IV – State wise correct response to Quiz in February 2015 Issue

By:

Sri D. Srinivasan (Sr. Manager)

BPR, Santhome

S.No State Name S. No State Name

1 Haryana Vijaya Kumar 2 New Delhi Anil Kumar Bhakta

PART IV – State wise 1st correct response to Quiz in February 2015 Issue

S.No State No. of responses S. No State No. of responses

1 Haryana 2 2 New Delhi 4

1) Who does the Whistle Blower and Vigil Mechanism Policy aim to protect?

A) Blower & Vigil Mechanism Policy provides for adequate safeguards against victimization of Directors & Employees and also provides Direct access to the chairman of the Audit & Risk Management Com-mittee of the company.

B) Blower & Vigil Mechanism Policy provides for adequate safeguards against victimization only for the Di-rectors.

C) Blower & Vigil Mechanism Policy provides for adequate safeguards against victimization only for the Chairman of the Audit.

D) Blower & Vigil Mechanism Policy provides for adequate safeguards against victimization only for the Em-ployees.

2) UMRN stands for ________________ it is used by Banks in ___ Process. Example for UMRN Number is Ex: KVBL1234567890001234.The 1st 4 digits refer to the ___________________.

A) Union Mandate Reference Number & ECS & Bank name of Collection

B) Unique Mandate Registration Number & ACH & Bank name of the customer

C) Union Mandate Registration Number & ECS & Bank name of collection

D) Unique Mandate Reference Number & ACH & Bank name of the Customer

3) FPC means _______________ and which one of the following are guidelines are stated by FPC? (refer www.shriramcity.in)

A) Fair Policy Code. All Customers should be treated consistently & fairly.

B) False Practices Code. All Employees should be treated consistent and equitable.

C) Fair Practices Code. All Customers shall be treated consistently & fairly, Employees should offer assis-tances, encouragement and service in a fair, equitable and consistent manner, FPC applies to the all catego-ries of products & services by the company.

D) None of the above

PART V – Quiz for March 2015

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Meeting Etiquette - Do’s and Don’ts

We are all familiar with meetings at office. Some of us probably attend meetings on a regular

basis too. However, it doesn’t end with arranging a meeting and turning up at the venue. Are you

aware that there is a code of conduct for participating in business meetings? To get the most out of

your business meeting, ensure that you conduct yourself in a respectful and professional manner. The

rules are simple, but breaking them could damage your reputation as a positive and committed

professional.

Let’s take a look at the most important rules for participating in a meeting.

1. Be on time.

Irrespective of whether you are the organiser or the participant in the meeting, being punctual

sends out a powerful message. It implies that you value your time and that of others, and also

conveys that you are a dependable person.

2. Make introductions.

Introductions are a must if everyone doesn’t know each other in the meeting room. It is

considered proper to present the person of lower rank to the person of higher rank. For example,

"Ms. Greater Importance, I would like you to meet Mr. Lesser Importance."

3. Have a strong agenda.

A good, strong agenda is necessary to ensure that the meeting stays on track and does not

take more time than is necessary.

4. Speak up and follow the rules

Speak loud enough so that you can be heard by everybody in the room. When asking a

question, it usually is more appropriate to raise your hand than to blurt out your question. In some

meetings it might be necessary to interrupt the speaker so that you can get your point across. Keep

your questions brief. If your question is detailed, break it into parts or several questions. But be

sure to ask only one question at a time; others may have questions as wellSet the ground rules at

the start of the meeting so that session is productive for everybody.

5. Do not have your phone out.

When it comes to mobile phones, follow the same rules as in a cinema theatre or music

concert – Switch it off or mute it completely. Avoid keeping your phone on the table as lights or vi-

brations can be distracting. Only the most urgent calls should be attended to, and that too, outside

the meeting room. It is very, very rude to text during a meeting, so no SMS or Whatsapp till you’re

done.

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Contd.

6. Leave your laptop alone

A meeting is not the place for you to check your email, or complete your project. Not only is

the tap-tap of a keyboard irritating, it also disrespectful to the speaker and others in the room. Use

a laptop only for the purpose of sharing the presentation, or if you are the person designated to

take notes and circulate the minutes later.

7. Attend the Entire Meeting.

Leave only when the meeting is adjourned. Leaving before the end of the meeting (unless

absolutely necessary and unless you have prior permission) can be disruptive to other attendees and

inconsiderate toward the speaker.

8. Clean up after yourself.

Once the meeting is over, leave things the way you found them at the start. It is extremely

unprofessional to leave behind a messy table/room.

---------------------------------------------------------------------------------------------------------------------------------

A painting sent in by our fellow SCUFian, Ms. Radha G.S.

(Executive II, Back office) from Bangalore. We appreciate how she is

pursuing her passion and hope that she develops her talents even further!

Different Strokes

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The Spirit of Sachin

December 1989, Sialkot, Pakistan. It was the fourth Test match of the India-Pakistan series.

The series was level 0-0 after three tests. Despite conceding a first innings lead of 65 in the fourth test, Pakistan hit back strongly through blistering spells from Waqar and Akram, reducing India to 38 for 4 in their sec-ond innings. India was suddenly staring at defeat, with which they would lose the series too.

It was the fourth test of Sachin’s career, who’d made his debut at sixteen. He walked in to join Sidhu. Experienced pros like Sanjay Manjrekar, Srikanth, Azhar and Ravi Shastri had found the Pakistan attack too hot to handle and gone back to the pavilion.

Waqar bowled a nasty bouncer that went smack on Sachin’s nose. The poor boy was badly hit and his nose began to bleed freely. Most women watching the match on TV were convinced that there must to be a law to prevent a sixteen year old from being subjected to such brutality.

The Indian team’s physiotherapist, Sidhu, and Pakistan players gathered to check out. Sidhu suggested Sachin to retire hurt and come out later. Even the physio suggested the same, but Sachin brushed them away and said “Main khelega!”.

In that moment, says Sidhu, a star was born. Those two words verbalized the fierce determination of a young man who wasn’t going to quit.

Blood was staining his gloves, his shirt, his face, his spirit, but the kid would have none of it. Sachin went on to score 57 runs and shared in the match saving 101 run partnership with Sidhu.

Just two words - “Main Khelega” - and talent transformed into genius that day in Sialkot. What separates champions from mere mortals is not just talent. It’s attitude. It’s mental strength. It’s the willingness to fight.

We will soon step into a new financial year 2015-16, which will bring many

challenges and the pressure to show ourselves as a profit generating team. Just say

“Main Khelega”. Our talents will transform into the positive attitude and mental

strength needed to overcome the challenges before us.

Contributed by

Mr. T.A. Gopinath

Risk Management Team, Luz

Adapted from http://santoshkotnis.blogspot.in/2011/09/main-khelega.html

http://santoshkotnis.blogspot.in/2011/09/main-khelega.html

http://santoshkotnis.blogspot.in/2011/09/main-khelega.html

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Editorial Committee

Shri K.Subramaniam

Senior Consultant, CO, Mylapore

Smt M.Subhashree

TED., BSC, Santhome

Sri M.Radhakrishnan

Consultant, BSC, Santhome

Ms. Teena Philip

Business Manager, BSC, Santhome

Communication Address:

Editorial Committee,

(News Letter—Breeze)Shriram

City Union Finance

144, Santhome High Road,

Chennai—600 004

Phone: 044 43925300

Email:

[email protected]

A parting thought

Look up to the sky.

You’ll never find

RAINBOWS if you keep looking

down.

- Charlie Chaplin

Ms. Akhila Srinivasan among Forbes ‘50 Power … Breeze/March 2015...Akhila is the recipient of...

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