BREEZE LETTER - scufhoftp.scufsanthome.com Breeze/March 2016 Breez… · Shriram City—News Letter - Breeze- 1st March 2016 3 FINANCE BUDGET 2016-17 The Union Finance Budget was

Shriram City—News Letter - Breeze- 1st March 2016

MARCH 2016

Breeze Committee wishes all

“ HAPPY EASTER” And “HAPPY HOLI”


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Mr.R.Paranthaman started his career in June–2004 as a

Field Investigator with Shriram City Union Finance Ltd. In the year 2007 ,he was promoted as a Team Leader and worked at Cuddalore and Chidambaram . In 2011, he was promoted as a Branch Manager and posted at Panruti Branch. During the financial year 2011-2012 he procured the total business for the value of Rs. 31.13 Crores. In 2012, he was promoted as a Senior Manager at Cuddalore and 9 branches at Kattumannarkoil, Chidambaram, Neyveli–I, Vadalur, Panruti,Tittakudi,

Virudhachalam, Attur and Kallakurichi were under his supervision. During the financial years 2012 – 2013 and 2013 – 2014 , he procured the total business for the value of Rs. 50.60 crores and 61.48 Crores respectively. . Mid 2014,he was elevated as Divisional Manager , Cuddalore and he continues to supervise the 10 branches. During the financial year 2014 - 2015, he procured the total business for the value of Rs.59.64 Crores. In the current financial year upto Feb’16 he has done a total business of about Rs. 58.35 Crores. In TW business, he has done 1,821 vehicles and 1,600 vehicles in the month of Jan & Feb 2016 respectively. Because of his earnest effects, the overall business of Cuddalore region has been increasing year on year. There are 10 Branch Managers and 98 employees in his team. He maintains a cordial relationship with his all Colleagues, Dealers as well as the Customers .The collection percentage is always maintained on par with the state average. Out of the overall TW business done through the dealers at Cuddalore region, a major share of 34% is done by Shriram City, leaving the balance to cash purchases by customers, and few small players in the Market.

Star of the Month from Tamil Nadu

Article contributed by Mr.Sundararaman.S.R Vice President , Tamil Nadu

mailto:[email protected]


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FINANCE BUDGET 2016-17

The Union Finance Budget was presented on 29th February 2016 by Mr. Arun Jaitley.

As per the budget for 2016-17, the Union Govt has estimated to raise Rs.19,78,060 crores to spend in the

Current Fiscal Year. This is around 11% higher than the 2015-16 Budget Allocation of Rs.17,65,436

crores. Summarized allocations are as below :

Rural Development – Rs.87,765 crores

Infrastructure Development – Rs.2,21,246 crores

Social Sector – Rs.1,51,581 crores

Education Sector for Skill Development – Rs.1,804 crores

Integrated Power Development Schemes – Rs.8,500 crores

Defence Sector – Rs.2,49,099 crores

IMPACT ON SALARIED CLASS

60% of Withdrawal under Employee Provident Fund taxable for contributions after April

1, 2016.

Staff contribution above Rs.1.5 lakh to EPF or Superannuation Fund taxable

Tax deduction at source on premature withdrawal of EPF savings over Rs.50000

60% of withdrawal under National Pension Scheme taxable as opposed to 100%

earlier.

Tax rebate for 2 crore taxpayers whose income does not exceed Rs.5 lakh, ceiling for

rebate increased by Rs.3000 to Rs.5000

Surcharge increased from 12% to 15% on persons having income above Rs.1 crore

New Dispute Resolution Scheme wherein a taxpayer who has an appeal pending

before the Commissioner (Appeals) can settle case by paying the disputed tax &

interest upto the date of assessment.

Compliance Window from June 1 to Sept 30 2016 where domestic tax payers can

declare undisclosed (black) income and clear up past tax transgressions by paying tax

at 30%, a surcharge of 7.5% and a penalty of 7.5% adding upto 45% of the


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undisclosed income. The surcharge amount will be called Krishi Kalyan surcharge and

will be used for agriculture & rural economy

For those living in rented house, there is an increase in tax relief on HRA from Rs.24000

per annum to Rs.60000 per annum.

All investors getting dividend over Rs.10 lakh per annum need to pay tax @ 10% of it’s

gross amount

First-home buyers to get deduction for additional interest of Rs50,000 a year for loans

upto Rs.35 lakhs; however, cost of house should not exceed Rs.50 lakhs.

BANKING REFORMS

Formation of Monetary Policy Committee – to increase transparency and

accountability of framing monetary policy.

Rs,25,000 crore infusion in Public Sector Banks

Bank Board Bureau to be operational, roadmap for consolidation for public sector

banks – thus, govt will not be involved in top management & board level appointment.

Consolidation will lead to banks with bigger balance sheets which is required to

finance large infrastructure.

Paring stake in IDBI Bank below 50% - make it at par with private banks & thereby

increase efficiency

100% FDI in asset reconstruction companies through automatic route – will bring in

more players, absorb bad loans

Listing of General Insurance Companies – to bring in transperancy, accountability &

forward looking approach through IPO


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RAILWAY BUDGET – 2016 – 2017

2015 – 2016 PERFORMANCE

Commissioning of 2500 kms of Broad Guage Lines, 1600 kms of electrification

Tuna Port commissioned & connectivity projects underway to ports of Jaigarh, Dighi,

Rewas & Paradip

Barak Valley in Assam connected to rest of the country; Agartala moved to Broad

Gauge Network

Online recruitments initiated in 2015-16 to bring in transparency for all positions

WHAT WILL BE CHEAPER WHAT WILL BE MORE EXPENSIVE

Footwear Eating out

Routers, Modems, Set Top Boxes Movies

Braille Paper Telephone Bills

Disposable Sterilized Dialyser & Micro barrier of artificial kidney

Air Travel

Solar Lamps Industrial Solar Water

Sanitary pads, napkins, tampons Mineral water, Aerated Drinks

Digital Video Recorder Cigarettes

CCTV Cameras Locally Manufactured Mobiles

Hybrid Electric Vehicles E-readers

Locally made Microwave Ovens Readymade Garments

Jewellery

Desktops, Laptops

Cars & Utility Vehicles


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Comfortable travel by generating over 65,000 additional berths, installing 2,500 water

vending machines, Mahamana Express introduced with modern refurbished coaches,

17,000 bio-toilets in trains

1,780 Automatic Ticket Vending Machines introduced, mobile apps & GoIndia smart-

cards, enhanced capacity of e-ticketing system from 2,000 tickets per minute to 7,200

tickets per minute & to support 1,20,000 concurrent users as against 40,000 earlier.

Wi-Fi provided in 100 stations

350 manned level crossings & 1000 unmanned level crossings eliminated

Security through helplines & CCTVs.

BUDGET 2016-17

For the Unreserved Passenger

o Antyodaya Express unreserved, superfast service

o Deen Dayalu coaches – unreserved coaches with potable water & higher num-

ber of charging points

For the Reserved Passenger

o Humsafar : Fully air-conditioned 3rd AC service with an optional service for meals

o Tejas : Future Train Travel in India – 130kmph speed, onboard services like

entertainment, local cuisine, WiFi

o Uday : Overnight double-decker, Utkrisht Double-Decker Air-conditioned Yatri

Express on busiest routes

Ticketing

o Sale of tickets through hand held terminals

o E-ticketing facility to foreign debit/credit cards

o Bar coded tickets

o Expansion of Vikalp – train on demand to provide choice of accommodation in

specific trains to wait-listed passengers

o Cancellation facility through 139 helpline using OTP sent on registered phone

number

o Improvement of Tatkaal services

o Integrate all facilities into 2 mobile apps dealing with ticketing issues & for re-

ceipt & redressal of complaints & suggestions

o Optional travel insurance for rail journeys at time of booking


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Infrastructure

o “Clean my Coach” service through SMS

o Additional 30000 bio-toilets

o Waste segregation & recycling centers

o Portable bio-toilets for Senior Citizens

o 10 more IRCTC operated base kitchens

o Rail Mitra Sewa to include bookings for battery operated cars, porter services

alongwith existing pickup & drop and wheelchair services

o Children’s menu items on trains, baby foods, hot milk & hot water

o SMART (Specially Modified Aesthetic Refreshing Travel) Coaches providing new

amenities like automatic doors, bar-code readers, bio-vacuum toilets, water-level

indicators, accessible dustbins, ergonomic seating, improved aesthetics, vending

machines, entertainment screens, LED lit boards for advertising, PA systems

o Installation of a high-tech centralized network of 20,000 screens across 2000

stations for enabling real time flow of information to passengers.

o Provision of passenger amenities & beautification on stations at pilgrimage centers

o Porters, to be provided with new uniforms & soft skill training and to be called

Sahayaks.

o Partnering with State Governments for operating tourist circuit trains.

Rail Development Authority to be set up to enable fair pricing of services, promote

competition, protect customer interests & determine efficiency standards.

A f rog decided to reach the top of a t ree

Al l f rogs shouted, I t ' s imposs ible , i t ’ s imposs ible

S t i l l the f rog reached the Top…

How? Because He was DEAF…and He thought, , ,

everyone was encouraging h im… to reach the top. .

“BE DEAF TO NEGATIVE THOUGHTS….

IF YOUR AIM IS TO REACH YOUR GOAL”


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HOW TO START THE DAY


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DYKS – MARCH 2016

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] only.

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 for each of the states.

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

mailto:[email protected]


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PART V – This month’s Quiz

A) What is our LTV for a customer with no income proof?

1. 80% 2. 90% 3. 100% 4. 60%

B) Who is responsible for settlement marking?

1. Operational Accounts 2. Regional Accounts 3. Others 4. None of the above

C) If the welcome letter is given to the customer properly without making any

delay. What are the problems which will not arise?

1. Loan Information given 2. Cheque bounce queries 3. NOC queries

4. All the above


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Business Enterprises in general are established to generate profits on a sustained basis . The concept of breakeven point helps in un-derstanding whether a business unit is run on profit-able lines and to determine the point of profitability

Definition of Break Even Point It is a point where the company is neither making a profit or nor suffer a loss. In other words, it a point where the amount sales or revenue equals its ex-penses. In simple terms it provides insight into whether or not revenue from a product or service has the ability to cover the relevant costs of produc-tion of that product or service.

Components of Break Even point A) Total Revenue – Income B) Total Cost – This includes Variable cost and Fixed cost Variable costs are those costs which increase with quantity produced ; Example in a manufacturing company if more units are produced more materials will be used and correspondingly cost will go up. Fixed Cost are those costs which will be incurred by the business even if no units are produced. In a single product/service company all costs like administrative costs , depreciation , are included . In a multi product company suitable allocation maybe made product wise if distinction is possible . Determination of Break Even point: This can be arrived by making use of the graphical method The unit outputs are measured in horizontal axis and the amounts both Revenue and the both the costs are measured in vertical axis. The Break Even point is where the quantity at which total revenue and total cost are equal. Above this quantity the total revenues will be greater than total costs generating profits for the company and conversely below this quantity total costs will exceed total revenues creating loss

Determination of Break Even Quantity This can be worked out by using a mathematical formula . The components are a) Total Revenue b) Total costs c) Selling Price d) Fixed Cost e) Variable Cost and f) Quantity of output . It assumed that profit is the difference between total revenues and total costs This is also known as contribution margin model as it defines the break even quantity as the number of times the company must generate the unit contribution margin or selling price minus variable costs to cover the fixed costs.

Break Even analysis is made use of by the companies for ensuring that they are on the right track, which product or service generate profit and for adopting best strategies for moving forward. Since we are focused on lending to SME units understanding the concept will be useful .

WHAT IS BREAK EVEN POINT


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Editorial Committee

Shri K.Subramaniam

CO, Mylapore

Smt M.Subhashree

BSC, Santhome

Shri M.Radhakrishnan

BSC, Santhome

Shri N.R. Sivakumar

SFPS,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]

“ The best preparation

for

TOMORROW

Is doing your best

TODAY ”

Documents

BREEZE LETTER - scufhoftp.scufsanthome.com Breeze/March 2016 Breez… · Shriram City—News Letter - Breeze- 1st March 2016 3 FINANCE BUDGET 2016-17 The Union Finance Budget was