My experience at cholamandalam investment and finance limited:
>Induction training
A) HR basics
B)company functions
C)company products
D)Fraud control department
>BKC branch description
>Meaning of credit management
>My job profile
>Company staff
>Working hours
Induction training-Induction training is the training that an employee receives when he/she first joins a business or organisation.
When I joined here, many other people also joined as a fresher for a post called sales executive. So this induction was basically for them but the HR general manager, who was about to address them invite me also to join this induction programme.Then the induction programme started with Human Resource department which is explained in following paragraph:
A)HR BASICS- This topic has been explained by HR General manager of cholamandalam investment and finance limited.
He explained about the company’s group that company belongs to MURUGAPPA group which is basically Chennai based family. The headquarter of the company is in Chennai. The group has 28 business included nine listed companies trading in NSE and BSE.
Here I get know about the rules for the employees of the company. Each and every employee follow such instructions to work in this organisation.
1)Attendance- Every employee fills their attendance at company’s website portal with the help of TAB, which have been provided by the company to their employees(TAB facility is only for the sales executives who works in fields).
2)Salary- Employee gets salary to their bank accounts. Their some certain rules decided for leaves. If the employee have used all of their leaves and after that he is taking leaves then company will cut some amount of money from their salary.
3)Leaves- Employee gets 3 types of leaves annually:
Sick leaves-7 days
Causal leaves-7 days
Privilege leaves-19 days
Privilege leaves are those leaves where employee gets paid if he’s not using those leave and serving to company on those leaves.
4)Resignation period- If employee wants to resign from the company he have to inform to HR department and he will get 3 months notice period after which he will be able to leave the Organization.
5)Retirement- Tenure of the employee’s working is 58 year after which he will be retired from the company.
B) Company function-Non Banking Financial Company also known as NBFC company, functioning as per the Indian Companies Act, giving loans and advances to the public. An NBFC company can acquire shares, stocks, bonds, debentures and securities from Government as well as local authority or any other marketable securities.
Following functions of cholamandalam investment and finance limited:
1) Borrowings- There is a treasury department in the company which manages the overalls borrowings of the company.
2)Giving loans for purchase of new vehicles also new vehicles.
3)Giving loans for purchase of used vehicles.
4)Giving loans for purchase of agricultural equipments(Tractors).
5)Giving Home loans.
6)Giving corporate loans.
C) Company products-
Vehicle loan-Two wheeler loans
Commercial vehicle loan
Tractor loan
Car & MUV loans
Loans from INR 1 lakh onward,
Loans for both new and used vehicle,
Motor Insurance, life insurance and personal accident cover.
Home equity loans-
Loans for purchasing or modernizing plant and machinery,
Loans from INR 10 Lakhs up to INR 5 Crores
Secured long term loans
Floating rate of interest
Exclusive products for the self-employed
Fast track approval process
Interest rate lower than other modes of raising funds
Loan processing in 5-7 working days
Transfer of existing equity loan possible
Part pre-payment of loan facility available.
Home loans-
Home Loans for Self construction
Loans for purchase of plots
Loans for purchase of ready to occupy homes
Balance transfer of existing home loan.
SME loans-
Chola SME Loans are business loans created exclusively for Small and Medium Enterprises to grow and diversify their business.
Loans can be used for purchasing, installing or modernizing business equipment and other fixed assets.
Term loans can support your business expansion plans or acquisitions. Can be used to refinance an existing debt.
-Loans ranging from INR 10 Lakhs up to INR 5 Crores
-Convenient repayment options
-Flexible tenure
-Floating or fixed rate of interest
-Loans for small and medium business
-Loans to any Private LTD, Partnership or Proprietorship Company
-Acceptable Collateral: Commercial Property | Residential Property | Industrial / Factory Land and Building.
Rural and Agri loans-
Loans for purchase of Tractors and farming equipments.
Quick processing and hassle-free documentation.
Convenient and easy repayment options.
Enabling ownership opportunities for the Rural-Agri class.
Fraud control department- This department helps in minimise the frauds and in the company. That fraud can be related to customer or employees of the company.
Following jobs has been done by this department-
1) To check whether the customer is loyal to the company or not.
3) To check whether employees of the company are faithfully doing their job or not.
4) To check whether sales executives are not taking bribe when they are in field.
5)To check customer’s financial health and it’s residential authenticity.
6) To check the customer’s documents authentic or not.
BKC Branch description- Under this branch Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers
The subsidiaries of Chola are Cholamandalam Securities Limited (CSEC), Cholamandalam Home Finance Limited (CHFL).
Here there is a separate department for Cholamandalam securities limited where that business being operated by the employees. Major contribution of business in cholamandalam investment and finance limited is given by Vehicle department. Where they manages retail as well as corporate customers.
Meaning of credit management- Credit management is the process of granting credit, the terms it's granted on and recovering this credit when it's due. This is the function within a bank or company to control credit policies that will improve revenues and reduce financial risks. A credit manager is a person employed by an organization to manage the credit department and make decisions concerning credit limits, acceptable levels of risk and terms of payment to their customers. This function is often handled alongside Accounts Receivable and Collections in one department of a company. The role of credit manager is variable in its scope. Credit managers are responsible for:[1]