Shared Services Excellence Award-winner Interview Nicola Stokes, Anz

SSON: How did you become involved with ANZs shared services program?

Nicola Stokes: I was appointed General Manager Shared Services in 2005. There was probably about two-thirds of the organization that exists today in place when I got there; the organization was all based in Melbourne at that stage. I think the most striking feature for me when I arrived was probably that the people didnt really understand why they were all put together in a shared service; each piece was run quite separately, and was very much a cost-driven service-delivery focus.

SSON: What functions are in place now?

NS: Basically as ANZ Shared Services exists now, we are responsible for HR Operations such as recruitment, remuneration, learning and development, pension/superannuation; Finance processes such as payroll, accounts payable, reconciliations, indirect taxes, information and reporting; Strategic Sourcing (IT and business services); and ANZ Environmental sustainability program and system. Weve expanded quite a lot over the last couple of years. We have a team of 400 now, half in Melbourne, and the other half are in India, in Bangalore with our captive center there. The clients are based in various geographies, Australia, New Zealand, India and SE Asia. The headcount for ANZ is about 35,000, and the 400 of us service all of them.

SSON: That does sound like a major expansion. So was this planned when you came in, or was it as a result of your own strategy formulated after your appointment?

NS: When I went in, you could just see the opportunity; I looked at ANZs strategy, where it was going with its five-year plan, and it was definitely based around having a very efficient and effective and high-quality infrastructure to support its planned expansion. ANZ had a captive center in Bangalore for nearly 18 years, and it was used for software development; my boss at the time – Mike Grime, managing director of Operations Technology and Shared Services (OTSS) understood we had a huge competitive advantage in India and we werent using it. So I looked at how we could use the captive for shared services and started to move the transactional elements of our service offering to Bangalore, with great success. We kept the roles that interacted with the client in the same country as the client a hub and spoke model. I also looked at overall cost, because obviously in all SSOs cost is an important factor, but we had quite a different way of approaching that I think. ANZs products are not the cheapest banking products on the market, but they are cost-effective, and so the question was, how could we match the cost-effective nature of shared services to meet that sort of customer delivery.

When I talk about customers I mean the customers of the bank; my clients are my internal customers, if you like. Sometimes when you use the term customer for your internal clients, you create a kind of master-servant relationship within the organization. That doesnt actually do any good, because in the end what were trying to do is all oriented around the end customers, which for us are the retail banking and institutional customers.

My strategy involved using the Heskett model of the service-profit chain, to help my own staff understand why they were all in a shared service: basically if you can deliver an excellent level of internal service, that will enable the front-line staff to deliver a similar level to customers. Indeed Hesketts model shows how front-line staff can ONLY deliver the level of service they receive on the inside of the organization. So that gave everybody a bit of vision as to how all the pieces fit together given everything we were responsible for was about the internal operations of the Bank. It also helped our clients understand what else we could do for them and what would or would not be effective. It was also important that we did not become the dumping ground for things the rest of the Bank did not want, so if a process/service was customer-facing or revenue-generating it did not belong in Shared Services. Then when we started to demonstrate this strategy/model to our clients, and to articulate our value proposition, thats when we started to grow and we started to take on more work for them, which was wonderful.

SSON: Does the SSO have any clients beyond ANZ or is it still all internal shared services?

NS: It is still all internal shared services.

SSON: Was there the plan eventually to sell services to other organizations?

NS: Its a really interesting question. Sourcing and partnerships are one of the strengths of what we developed, but a lot of shared services entities start to fail when they start to take on third-party work, because theyre going against the reason they were set up in the first place. What in my experience you need to do is draw a line in the sand – and then if you decide that now its about revenue generation, ANZ then becomes a client. There are many documented cases where this had been attempted and has been a failure as the shared service starts to believe it exists for its own revenue-generation – and the business we are in is banking. If this step is to be taken the most successful ventures I have seen are when the shared services is sold or JVd.

Part of the vision that we had for shared services was that we would enable the Banks growth whether organic growth or through acquisition. Shared services traditionally get involved after the acquisition has been decided, whereas what we believe is that because of the responsibility placed in our shared services organization we had financial stewardship of A$4bn we would become part of the decision-making process about what we would acquire because we would be able to demonstrate that we would enable the benefit delivery of the M&A by getting things up and running and integrated more quickly. So, my strategy was to ensure that shared services would move from a purely cost-focused, internal transaction operation to something that was a crucial part of the growth and development of the Bank through operational excellence and energetic and agile service delivery.

SSON: Before we move on to talking about your role as thought-leader for which youve been recognised, can you tell us a little more about the environmental sustainability department you mentioned?

NS: Absolutely. Its quite unusual within shared services. Part of ANZs strategy under the previous CEO was ensuring the bank became more environmentally sustainable; there was quite a big community and employee engagement plan, but the environmental sustainability area, our understanding of our consumption, was still in its infancy. We started with the basics: we designed and implemented an environmental management system, around creating baselines and understanding performance. If you look at the other pieces of shared services especially the procure-to-pay process and the responsibility for the supply chain, the processes and methodologies we used, we could control the type of things the Bank consumed.

Our next step was to further understand how we could become carbon-neutral. We started working on a strategy and education program, internally for bank employees and all the way through our supply chain. We started to only select environmentally sustainable products for the catalogue; we worked with current suppliers so they could get to a benchmark with us; and we stopped doing business with people new work if they didnt understand their own footprint. We taught our suppliers things and they taught us things.

And I was actually voted onto the United Nations Environment Program Finance Steering Committee, and went to Geneva representing ANZ. I was voted onto the committee by 80 of the banks globally who are members of the UNEP-FI. And our crowning glory was that in the Dow Jones Sustainability Index we, ANZ, became the number-one sustainable bank for 2007/08 – pipping WestPac at the post which wasnt the aim! But it was a wonderful outcome, and its now embedded in the way that the bank does business. We can now monitor everyones buying behaviour on an ongoing basis. It was quite a wonderful achievement: a lot of hard work – and a lot of scepticism – but one of the great examples of shared services being able to demonstrate that its value is much more than transactional or purely operational functions.

SSON: Thats a very impressive achievement. Congratulations.

NS: Thank you. Were very proud of it.

SSON: You deserve to be. Lets move on to your award. Why do you think you were honoured as Shared Services Thought Leader of the Year?

NS: Two things I think. Firstly the leadership program I put I place and secondly the strategy, business plan and implementation methodology I designed and used to ensure the ongoing effectiveness of shared services in ANZ.

The leadership program that I put in place was a three-year rolling program for all of the leaders in shared services – so not only the leaders in line management, but my direct reports and their direct reports functionally. And then we added people who hadnt worked in a bank, because they bring in all this other experience. Shared services is full of young people, so we picked out all the older people with experience in life, and knowledge, so the whole leadership forum could get that sort of balance.

We used a Human Synergistics tool called Life Style Inventory which is very well-known in this part of the world, and it talks about moving from passive-aggressive or defensive-aggressive styles to constructive styles, and their tools show that the constructive styles lead to increased share price and profitability. We ran that over the first year of the program, putting 38 people through this: we launched it for the whole 400 in Melbourne and Bangalore because when people see shift in their leaders they get concerned, they dont know whats going on – so we simply articulated what was going on. I employed a leadership coach and for six months the 38 each met with me every eight to twelve weeks and with the coach every four weeks, working through the program – so they sort of practised for six months and then went up to implement for the next six months.

Then Year 2 of the program was positive psychology: this is a way of thinking and discussing whats good in life, and doing more of it, rather than as most organizations operate – on deficit, grading performances on what you havent done or what youve done wrong. This research is quite phenomenal. Its run as a course at Harvard, and its the most attended course. [Martin] Seligman did a lot in relation to happiness, and what hes actually shown is that its not about being happy but being happier, and the effects on the physiology of the brain and what that does for individuals and therefore the organization. By rolling this program through, we got the biggest shift to constructive profile that Human Synergistics have ever seen in their history and theyre actually doing a profile on us, thats out in the next couple of months.

The Heskett service-profit chain model worked really well for us; Im not sure if it has to be that one in particular, but it has to be something that will bind all the people who work in shared services together. And then we had a robust business-planning methodology which we developed that other parts of the bank started to use, using end-to-end process management approach, and Lean and Six Sigma, Balanced Scorecard and a lot of those basic tools that deliver an effective process but then free up the individuals in the process to think and be innovative for our clients. We automated end-to-end so we could use our ideas and our people to deliver a better service. You know, if our clients have a clunky process that takes their time away from managing existing and new clients the consequences are quite well documented.

The combination of these two elements ensured that we were moving up the value chain and would continue to do so.

SSON: You mentioned targets there; what were your personal targets? Did you set yourself specific benchmarks you wanted to surpass?

NS: I had a three-year plan for shared services. My targets were around employee engagement; financials; risk; process effectiveness and client/service delivery. This was all wrapped up into an overall measure of how many new products or services were we asked to take on for the Bank. Did my colleagues want to do business with my organization? This combination of qualitative and quantitative data was fundamental for our success and progress towards the achievement of our strategy and of course to help us stop doing work that was no longer valued by our clients.

SSON: What were the biggest obstacles you encountered?

NS: Its really interesting question and I feel the longer I think about it the more I come up with, but there are a few key ones. The first one is understanding that most business units want to control their own stuff – not wanting to give anything up. If you think about why that is, in most organizations roles are scoped and scaled and paid relative to the actual size of the job headcount is important in this equation – so by taking peoples staff were actually decreasing their own roles within the organization. So we began taking in pieces of work, saying just give that to us, well put it through our process and then well give it back to you, and you can just run it and they thought this was just wonderful. Eight times out of ten they never took it back, because they were still getting the credit or the kudos or whatever were all human beings for the outcome of the process running really effectively or the engagement running really well. And I think thats something that people all over the world running any form of shared service continue to challenge. We in shared services need to keep our focus on the benefits to the whole organization, not the benefits for our own SSO.

Another challenge is that when you take on other work all of a sudden the expectations change. So somebody thatd been running their own process and had a quality score and a time rating and error rating and complaints rating, when we came into the equation the expectation changed massively and our clients want a much higher quality rating for example. So thats where we introduced client councils, so we could say this is what were taking over and thats what it looks like now. This started as a plan over 12 months but we were able to make traction much more quickly, achieving targets over six to eight months. This approach only works with a lot of face-to-face interaction.

Another major change maybe not an obstacle but the transformational change through the leadership from being a reactive organization to being proactive, so not only doing what was asked, when the answer was always yes irrespective of what was possible or not, but actually coming up with thoughts and ideas for our clients because we understood their business just as well as they do.

SSON: Lets look at the future now. What are your plans? Youve moved on from ANZ

NS: Well I moved from Sydney down to Melbourne to take the role, and had a three-year timeframe in my mind. And thats what I did. I think Im where a lot of people get at a certain time in their lives I got very involved in the environment and community agendas, and Ive decided that I want to work in more community-focused organizations. What I believe is that the things that I do around consolidating internal activities and organization, reducing costs while keeping service levels high, and enabling access to products and services – I want to do within a more community-oriented organization, rather than in an organization where any monies I was involved in saving or producing go back to the shareholder only.

Ive got to this stage in my career that I want to do something with a bit more purpose to get me up in the morning! Ive had a ball, ANZ was wonderful, and I want to do something that takes that commercial acumen that we develop in corporates into working for an organization thats more community-oriented. Its a pretty huge step for me. Ive given myself six months, by the way, to see if they want me and if not Ill get back into corporate and will still really enjoy it! But Im really very excited by trying to make the change.

SSON: Please do let us know how you get on!

NS: I certainly will. You can do so much within an organization, its really amazing. You can really positively impact on a lot of other people in their daily lives whether inside or outside the organization. But well see how I do!

SSON: So lets wrap up. What advice could you give to an individual or a team embarking on shared services?

NS: If youre going to establish shared services you need to understand two concepts. The first one is: why, and who are the sponsors? What does an organization think it can get from shared services? And understanding if there have been any attempts in the past and what were the outcomes of those attempts. So thats a really important piece.

The second piece is a bit about understanding the organizations culture and life-cycle. So in a command-and-control, why would you attempt a shared service model?

The glue that keeps it all together is knowing what leadership model youre going to bring into the SSO. Your classic line manager is one thing, but you need influencing skills and negotiation skills at all levels. Shared services clients are always there, whereas in any other organisation I think the average interaction with your customers in financial services is around four times a year; so this understanding of the clients access is really crucial, and you need the best leadership for that. Finally, if you only focus on getting all of your transactions and processes and data perfect before you move up the value chain, youll never get there.

Why Punjab And Sind Bank, Rbi And Upsc Recruitment 2013 Is Expected To Charter Progressive Careers

Depending on this foresight or at least the thought of it, people try to select the particular organisations in which they will apply when the vacancies are submitted for public applications. Jobs in RBI or Reserve Bank of India are helpful for the recruits as are the jobs in Punjab and Sind Bank.

Getting recruitment through IBPS in Punjab and Sind Bank in officer rank

Since banking jobs are sought by people in India in general, people from different backgrounds have gone for these vacancies. In the Punjab and Sind Bank recruitment 2013, there will be a lot of posts which would be coming out in the subsequent months. This is one of the participating nationalised banks in the IBPS or Institute of Banking Personnel Selection process. With the clerical level exam for IBPS already over in December 2012, the results will soon be declared. Then, candidates can apply for this particular bank, when the vacancies are published. One can enter into the posts of clerks or probationary officers or specialist officers.

RBI as the highest banking institution and hence a privileged posting

RBI is the highest banking institution in the country, responsible for regulation of the banking rules and financial situation of the entire country. The enormity of the function is only possible to be known if one clears the RBI recruitment 2013, which is going to be conducted in the recent months. Working in capacities of clerks or officers in RBI in itself is a great achievement. Further, it can be a learning experience in managerial and executive levels. It is a privilege working with the top minds in financial world while in RBI. RBI recruitment 2013 will be therefore in the top of the list of preferences among the banking job aspirants of India.

Pay scale is quite good in banking sector In these banks such as Punjab and Sind Bank there is a good pay scale, which comes along with a variety of perks and allowances. In the officer levels, these are among the best paid executives in the country. RBI officers are also highly paid and have variety of perks. It can be easily said that the pay scales in these banks are among some of the best organisations in the country.

Gazetted, officer positions through UPSC

UPSC recruitment 2013 is supposedly among the best ways to find a prosperous and progressive career in India. Union Public Service Commission or UPSC is the body constituted in the country, to look after the recruitment process of Group A and B category, gazetted officers in the country, in different departments. For the purpose, it conducts written exams and interviews for various organisations. There are exams like Special Class Railway Apprentices for engineering graduates, CDS and NDA for army recruitments at 12th and graduation levels respectively, IES, ISS, civil services, etc for selecting candidates to work in the highest administrative and managerial positions in various organisations. This suggests that UPSC recruitment 2013 will be, a dream come true for many candidates, much because of the high level of designations that they will receive after clearing the exam.

These organisations of RBI and Punjab and Sind Bank have the potential to bring up the best in the careers of the recruits due to their variety of posts, pay scales and managerial positions. UPSC recruitment has intake of thousands of posts in various gazetted officer positions, which are the dreams of millions of students in the country.

Things To Know Before Getting Loan Against Securities In India

There are many types of loan available for your need. You can opt for loan against property, securities, shares, etc. in India. But you need to judge these loans and go through papers and agreement before opting one. But before opting for any type of loan, you need to compare the options and choose the best one that suits you.

Many times, people opt for personal loans from banks and financial institutes but remain unaware of other types of loans. One of these is loan against securities, shares, mutual funds and other financial instruments. In India, many banks, PSUs and other institutions offer these loans in the market. The rate of interest many vary from 12% to 15% depending on the lender.

The method to find out the best loan option is to find the reason and purpose for the loan, cost and time period of the loan amount and lastly mode of loan. Many experts feel that loan against securities and shares have its own advantages and disadvantages.

The interest on loan against security is charged only on utilization of limits sanctioned and only for the number of days it is utilized. This can be used for various reasons like buying a property, personal expenses, marriage, studies and other requirements. One of the cautions that people taking these loans should take not to invest it back to the market. This can be risky factor.

As per guidelines of Reserve Bank of India, a borrower can’t be given more than Rs. 20 lakhs against shares and equity mutual funds depending on value of security used for loan. Also, drawing power of a loan amount depend upon liquidity. For example, debt securities can grant you 80% drawing power.

One of the drawbacks that loan against securities has is market crash. Before borrowing the loan, you should be able to fund the loan account or you should have additional securities. Hence it is advised to borrow a loan amount depending on the ability to repay.

After borrowing the loan, if you want to revise the portfolio and upgrade it, the lender can grant your request depending on terms and conditions of the bank or lending institute.

Before borrowing the loan, you should know the financial instrument that you are using for loan. Banks and lending institutes has list of approved securities against which they offer loan. This may get revised regularly depending on lender and policy and rules in India. In general, almost all lenders offer loan against equity shares, mutual fund units (equity, debt, FMPs), government relief bonds, policies issued by LIC etc. You should check the list before you opt for this option.

If you are looking for short term loan, then loan against securities and shares is viable option provided that you check the amount utilized.

Wainganga Krishna Gramin Bank – Housing Loan Scheme

Wainaganga Krishna Gramin Bank came in to existence on 15th December 2008 through amalgamation of Wa…

Wainaganga Krishna Gramin Bank came in to existence on 15th December 2008 through amalgamation of Wainganga Kshetriya Gramin Bank, Chandrapur, Solapur Gramin Bank, Solapur and Ratnagiri-Sindhudurg Gramin Bank, Ratnagiri.

The authorized capital of the Bank is Rs. 500.00 lakhs and the paid up capital is Rs. 400.00 lakhs. Government of India, Government of Maharashtra and Bank of India has contributed 50 %, 15%, and 35% of the share capital respectively

Purpose: This loan finances acquiring a house.

Quantum of Loan: Up to a maximum amount of Rs. 20 Lakhs is granted as loan Under Priority Sector & above Rs. 20 lakhs NPS maximum Rs. 50 lakhs.

Eligibility: This loan scheme is restricted to allotted 12 Districts of Maharashtra.

Margin: Up to Rs. 10 lakhs there is a margin of 15 % and above Rs 10 lakhs the margin is 20%.

Rate of Interest: Interest rates differ on the basis of amount of loan & repayment period. The maximum rates for the repayment period of 15 to 20 years are as below. Up to Rs. 05.00 lakhs -10%,

Rs. 5.00 to 20.00 lakhs – 10.50%,

Over & above Rs. 20.00 – 11.50%

Exploring Top 10 Business Sectors In India

The Indian economy is one of the fastest growing economies in the world and this is evident from the increase in b2b business space India shares with the world. Apart from the big business houses, the real contributors towards the economic growth are the small and middle sized enterprises belonging to different industries.

To learn about different business sectors of India, there is no better place than a b2b
business directory, where these businesses open their doors for the world. Considering the popularity and growth rate of businesses, here is a list of the top 10 business sectors of India.

Foods and Beverages
The foods and beverage industry of India has gained popularity in the past 3-4 years, mainly due to the changing lifestyle and eating habits of the people. Most of the segments have recorded an increase in revenue from 2005 to 2009, the alcohol segment being on the top. A growth rate of 7.5 percent is expected between 2009 and 2013 to make it a 330 billion dollar industry by 2013.

IT Industry
The information technology business sector of India is expected to increase by 14.1 percent from 2009 to 2010. The expert analysis predicts the industry to become 67 billion dollar industry in 2010 and to increase by 11 percent by the year 2013. IT services, software as well as hardware segments are making great contributions towards the growth rate of IT industry as a b2b business.

Health Industry
Due to a huge different in the healthcare costs in India and the western countries, the health industry of the country is experiencing a growth in terms of business. The analysis shows that the current 35 billion dollar industry is going to touch the figure of 75 billion dollars in 2012 and 150 billion dollar by the year 2017.

Telecom Industry
The growth of telecommunication business sector in India can be easily termed as a revolution. The country enjoys the second rank as the telecom network provider. The rise of 3G services and mobile telephony has also contributed significantly towards the growth rate in the sector. The mobile subscribers in the country are expected to grow by 11 percent from 2010 to 2014.

Textile Industry
Textile industry of India is a globally reputed b2b business sector. The total textile exports from India contribute towards 27 percent of the total foreign exchange. Cotton, silk, jute, woolen, hand-crafted and readymade textiles are the main segments one can find in a global Indian b2b business directory.

Auto Industry
The Indian auto component industry has been growing with a consistent growth rate of about 20 percent since 2000 and the rate is expected to remain consistent till 2015. Engine parts, drive transmission ad steering parts, suspension and braking parts and electrical parts are main contributors towards the growth of this global b2b business sector.

Construction Industry
Accounting towards 11 percent of Indias total GDP, the construction industry is an exporter of various raw materials to the world. For example, China is the biggest consumer of steel exported by India. Besides, the cement industry is a significant contributor in this category.

Handicrafts
Indian handicrafts enjoy a great demand in the foreign markets like those of USA, UK and Australia. Wooden handicrafts, jewelry, hand printed textiles and crocheted goods are some of the main segments that bring foreign exchange of the worth of 3 billion dollar to the country.

Energy
Both renewable and non-renewable energy sources have contributed towards the growth rate of energy sector of India. Natural gas, LPG and solar energy are the segments that have been consistently growing.

Banking and Insurance
Investment banking, credit cards, mortgage and insurance products are the segments that contribute towards the growth of banking and insurance sector of India. For example, the number of debit cards increased by 40 percent from 2006 and 2009.

To find the companies showing growth in the above-mentioned business sectors, you can refer to a b2b business directory. Apart from them, there are many other industrial sectors growing in the domestic as well as global markets.

Avail Loan Against Property – Secured Form Of Loan

In all kind of cases you need money. If you are planning to take a loan then avoid taking unsecured loan as youll end up paying huge amount as interest. It is always better to go for secured loan and financial consultants also advise for this kind of loan. If you own a property then you can get Loan Against Property.

The loan against property in India is a type of loan which is secured by the bank by putting property as a security. Many a times the value of the money can be somewhere between forty to sixty percent. Hence, if you have a property with good return value then this is one of the best types of credit to fulfill your requirement.

If you want apply for loan against property, then do a little bit of research about Indian market and various money lenders in order to compare various loans to get the best one.

RupeeZone is financial organization offering different kind of loans to its customers. If you have a property and dont want to sell it then RupeeZone can help you to get Loan Against your Property India at best loan against property interest rates. Loan Against Property is available in 3 types:
Loan Against Property for Salaried Individuals
Loan Against Property for Self-Employed
Loan Against Rentals

Thus, you can avail any of the following loans based on your requirement.

If you are NRI and want to apply for loan then RupeeZone also offers best Loan Against Property for NRIs.

Flexibility is the key factor these days, so there is no such fear that repayment would become difficult. These days money lenders offer various flexible repayment options. And this is the reason why people are opting for these kinds of finances.

If you are opting for loans against property then there is ample of time for repayment and this would not put any burden on you. Due to the availability of these facility people are going for these loans and tenants and homeowners are making use of these loans. As a property owner, you can keep your property as security and easily get loan against it. This is also one of the risk-free options for the money lender.

Search Jobs in Banking for a Fruitful Career

The banking sector in India has witnessed a huge expansion in recent years, throwing open a world of opportunities. If you are at a stage planning your career path, search jobs in banking positions to get an idea of the options it has to offer and be sure to be overwhelmed.

Benefits of a banking career

The size of the banking sector is proof enough of the multitude of career options it offers. It is still at the expansion stage and offers many openings at various levels. The benefits it offers are enough to attract talent towards this industry.
Expanding sector: Over the years, the banking sector has seen many changes. Liberalization in the year 1991 was one of the biggest changes the industry saw. The number of banks in the nation shot up greatly with many private players entering the market. However, compared to other developed economies, this sector in India is still at the developing stage with a huge scope for expansion.
Growth opportunities: As the banking sector is expanding, it is also offering a great amount of job opportunities. Multiple jobs are posted on various job portals and you can also get job updates on mobile phones. Entry into the industry is just a beginning of the growth process, as there are ample opportunities to grow and reach high levels. The fierce competition in this sector is forcing every organization to adopt means to retain the best talents. Even public sector banks are keeping up with the competition and formulating policies that go in favor of the employees.
Competitive pay packages: To control the attrition rate within an organization, it is important to match up with the demands of the time. Pay packages play an important role, when it comes to executives switching jobs. To see to it that talent is not lost, banks try to keep up with the salary standards compared to other sectors.
Good working conditions: A banking job is considered a white collar job with excellent working conditions. Compared to other industries, the working hours are decent with very rare occasions of late hours. The atmosphere is absolutely professional, and balancing work and family life is possible in this industry.
Job rewards: Being a part of the banking industry has rewards that go beyond the attractive pay packages. There are several benefits that a bank employee enjoys, which employees of other industries lose out on. One such significant benefit comes in the form of loans offered at lower rate of interests to bank employees as compared to non-bank employees. Consider this to be a job perk, but it is a rather significant one. In order to earn a living, one either goes for self-employment or service. If you are planning to take up a job, it would be advisable to take a look at the banking sector. Search jobs in banking companies and you may find a diverse range of requirement with opportunities not being limited to financial backgrounds. You could also enter the sales field or the technology handling section. Needless to say, the benefits are many with a chance to have a balanced life.

Search jobs in banking companies to explore the opportunities available. Talent is required in various fields like sales, marketing, and technology. Sign up with a job portal and get job updates on mobile phones to stay in touch with the industry needs.

Assam Gramin Vikash Bank – Car Loan Scheme

Government of India through a notification dated 12th January 2006 amalgamated the four Regional Rur…

Government of India through a notification dated 12th January 2006 amalgamated the four Regional Rural Banks sponsored by the United Bank of India in the state of Assam to form Assam Gramin Vikash Bank (AGVB).

The erstwhile RRBs amalgamated were Pragjyotish Gaonlia Bank (Established on 06-07-1976), Lakhimi Gaonlia Bank (Established on 29-07-1980), Cachar Gramin Bank (Established on 31-03-1981) and Subansiri Gaonlia Bank (Established on 30-03-1982).

Thus Assam Gramin Vikash Bank (AGVB) came into existence from 12th January 2006 covering the areas of operation of the pre-amalgamated RRBs. The bank has its Head Office at Guwahati.

Purpose: This loan finances purchase of Motor Car.

Eligibility:

i)Applicant must be a depositor of the Bank.

ii)Minimum Net Monthly income of the applicant should be Rs.5000/-

iii)Permanent employee of Government / Public Sector/Corporate Organization or Professional and Self Employed Persons with reasonable income surplus can also avail this loan.

Loan amount: The maximum loan amount is Rs.3.50 lakhs (in case wife is co-borrower Rs.4.50 lakhs). This is subject to the condition that loan amount does not exceed 15 months net income of the applicant and total deduction does not exceed 60% of Gross salary.

Money Matters Financial Services Limited

Money Matters Financial Services Ltd. is one of the fastest growing financial companies in India. Money Matters Financial services Ltd. is a Non Banking Financial Company and is categorized as a Non-deposit taking systemically important (ND-SI) Non Banking Financial Company (NBFC) by Reserve Bank of India (RBI). Money Matters Financial Services Ltd. is among the leading institutional debt market firm in our country which provides advisory, consultancy and other financial services to corporate and institutional clients.

Money Matters Financial Services Ltd. along with its group companies has set out to become the leading institutional debt market company in India. Money Matters Financial Services Ltd. intend to grow services related to its core debt market practice while scaling other businesses like investment banking and asset financing to support this practice. Money Matters Financial Services Ltd. punctual and dedicated services have given them a growing list of reputed corporate clients. Money Matters Financial Services Ltd. also provides merchant banking and broking services through its subsidiaries, and had about 100 employees as of June 30, 2010 at their Mumbai and Delhi offices.

Establishment:
Mr. Rajesh Sharma is a founder of Money Matters Financial Services Ltd. In the year 1997 with the help of couple of employees Rajesh Sharma started the small office of Money Matters at Fort area in Mumbai.

MISSION:
Excellency, passion, distinctiveness, integrity, knowledge are the core value of Money Matters which helps them build strong long-term relationship with their clients and that helped them to be one of the leading Financial Company in India.
The key to the success of Money Matters Financial Services Ltd. is based on experienced management, innovative structuring, strong relationship capital, effective execution, and diverse client base. Money Matters work closely with clients to understand their needs and they always provide customized solutions to the various financial needs of their clients.

ABOUT RAJESH SHARMA:
Mr. Rajesh Sharma, Chairman and Managing director of Money Matters Financial Service Ltd. has more than 17 years of experience in capital market and financial advisory services.

SPECIALIZATION:
Money Matters Financial Services Ltd. is expert in debt syndication, debt placement, financial restructuring, Financial Turnaround Advisory and Private Equity/M&A (mergers and acquisition) Advisory. Money Matters Financial Services Ltd. also gratifies other financial services (along with subsidiaries) like investment banking and corporate finance advisory and private equity funding. Money Matters Financial Services Ltd. has been serving various corporate sectors such as Real Estate, Power, Telecom, Hospitality, Retail and Financial services. Money Matters Financial Services Ltd. is full service investment bank which offers advisory services that are relevant across life cycle of a corporate.

Money Matters also provides asset financing which aims to accomplish short-term and long-term financing needs of corporate house which helps in asset financing, prompter funding, structured debt finance, and stressed asset funding and margin finance and debt syndication services like Project Finance: to increase the existing capacity or to set up a green field project.
Structured Finance: to increase the scope of financing by customizing financing structures as per business needs.
Working Capital Finance: short term finance to fill up the gap in operating cycle.
Acquisition Financing: finance to domestics or international acquisitions.
External commercial borrowing: Cost-effective long-term finance, denominated in foreign currency, to fund capital expenditure in Manufacturing and Infrastructure space.
Mezzanine Finance: High-yield debt with equity option for special business needs in the form of last-mile funding.

Debt Capital Market includes services like Long term corporate finance and Short term corporate finance. Money Matters Financial Services Ltd. provides complete investment solution in Equities, Derivatives, Debt Market Segment, IPO and Depository Services.

Money Matters Financial Services Ltd. has been servicing various corporate sectors such as Real Estate, Power, Telecom, Hospitality, Retail and Financial services.

Achievements:
In 2010, Money Matters Financial Services Ltd. was honored with Amity HR Excellence award for performance Management 2010 at global HR summit of Amity International.

By completing Qualified Institutional Placement (QIP) Last year in October 2010 Rajesh Sharmas Money Matters Financial Services Ltd. raised Rs. 445 crores to meet the funding requirement and capital. Expenditure for proposed asset financing business to house products such as Bridge financing, corporate loan/ Project financing structured product funding, Pre- IPO financing etc. to corporate. Money Matters Financial Services Ltd has a corporate lending book of Rs.257 Crore as on Nov 2011.

Net profit of Money Matters Financial Services Ltd. rose from Rs.9.92 crore in Dec 2010 to Rs.12.39 crore in Dec 2011 (by 24.90%), and sales rose from Rs.51.87 crore in Dec 2010 to 149.04 crore in Dec 2011(187.0%). Net worth of Money Matters Financial Services Ltd. is Rs.750 till this date.

Money Matters Financial Services Ltd. supports NGOs like Atma Mumbai, which works in the field of education and children, to bring positive change in the lives of thousands of poor and needy children in Mumbai.
Money Matters has over 70 employees working for them and have offices in Mumbai and Delhi

Nirmal Singh Bhangoo set to Spice-up Australian Property Market.

Nirmal Singh Bhangoo, one of India’s largest land owners and founder of Pearls Global, aims to spice up the Australian Property Development and Housing Market.

Having recently entered the Australian market, Nirmal Singh Bhangoo’s latest concentration on the local market has been led through Pearls Australasia, the Australian property arm of his New Delhi – based Pearls conglomerate. Since his investment in late 2009 of the famous Sheraton Mirage Holiday resort and Spa on the Gold Coast, Mr Nirmal Singh Bhangoo or ‘the Chairman’ as he likes to be called, has released a series of major deals and projects which feature his significant intentions in becoming a key and long-lasting player in the nation’s marketplace.
Headed by award-winning house pair, Joint Managing Directors and Entrepreneurs Peter Madrers and Paul Brinsmead, Pearls Australasia has launched a multi-million dollar update of the Sheraton; a joint business venture with David Devine’s Metro Property Development to create 1000 flats in Brisbane and a thousand property lots in Melbourne; and the local and international development of its MiiHome brand name.
Pearls MiiHome is an worldwide copyrighted creating system that is dispensing original housing for the out of the way location, indigenous, turmoil along with sociable sectors in Australia and India, and workers lodging to mining and infrastructure projects in Qld. It is a product that the chairman stands firmly behind and is convinced will become the future.
Pearls MiiHomes have already been recognized for their ability to withstand the toughest of Australian conditions. A 9.5 star rating and capacity flood, tsunami, cyclones, flames and earthquakes are making these products the ideal replacement for houses ravaged in particular by the early 2011 deluges and storms in Queensland.
Nirmal Singh Bhangoo so far has contributed a couple of houses to homeless families that allows them reconstruct in flooded areas, and gained the right to help the re-build of the Grantham township in the Lockyer Valley.
Nirmal Singh Bhangoo created Pearls in 1983 and under his guidance it’s become one of India’s fastest growing firms and among its greatest non-public landholders, acquiring a diversified investment portfolio with extensive pursuits in infrastructure; civil, commercial and residential development; property development; private hospitals and academic organizations; food, spices and liquor; insurance; tourism; farming; and, mass media and entertainment.
Headquartered in New Delhi, Pearls Group leads the Indian property field, with a coveted focused land bank of agricultural, semi-urban and urban parcels totalling more than 1.5 million acres, which is being engineered by the firm’s real estate and construction arms. Mr Nirmal Singh Bhangoo has long been a founder in real estate, with his entities creating residential complexes and villas, farm houses, residences, hotels & major resorts; business complexes, shopping malls and entire townships.
Pearls Global is today undertaking numerous hospitality, utility and commercial projects on its land to satisfy the requirements of one of the swiftest rising economies in the world. This includes five star hotels, resorts and business hotels at several destinations including Bangalore, Mumbai, Lonavala, Pune and Gurgaon.
Born in the Punjab, Nirmal Singh Bhangoo is also now being acknowledged for his incredible commitment to bettering financial interactions, both with Great britain and Australia. In the past 1 year his family members have accepted honours on his behalf at Parliament Houses as far afield as London and Sydney.
At an earlier ceremony at Britain’s Parliament, Mr Nirmal Singh Bhangoo was also awarded International Entrepreneur of the Year by the British India Society.