Recuritment Process in Reliance Money

7/30/2019 Recuritment Process in Reliance Money

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INTRODUCTION


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INTRODUCTION

RECURITMENT PROCESS

DEFINATION

Recruitment is the process seeking out and attempting to attract individuals in

external labor markets, who are capable of and interested in filling available job

Vacancies .Recruitment is an intermediate activity whose primary function is to serve

as a link between human resource planning on the one hand and selection on the

other.

To Recruit Means To Enlist, Replenish Or Reinforce.

Recruitment begins by specifying the human resource requirements, initiating

activities and actions to identify the possible sources from where they can be met,

communicating the information about the jobs, term and conditions, and prospectus

they offer, and enthusiast people who meet the requirement to respond to the

initiation by applying for the jobs.

AIM

The aim of recruitment is the information obtained from job description and job

specification along with precise staffing standards from the basis for determinig

manpower requirement to attain the organizational objective.


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Recruitment Needs Are Of Three Types:

1 Planned, anticipated and unexpected planned need arise from changes, in

organization and retirement policy.

2 Resignations, deaths and accidents and illness give rise to unexpected

needs.

3 Anticipated needs refer to those movements in personnel which an

organization can predict by studying trends in the internal and external

requirements.

Features Of Recruitment:

1 Process or series of activities rather than a single act or event.

2 A linking activity as it brings together those with the jobs(employer) and

those seeking jobs(prospective employees).

INTERNAL SOURCE OF RECRUITMENT

Internal Transfer/Promotion with necessary screening, training and selection to

meet the specified requirement. It would be desirable to utilize the internal

sources before going outside to attract the candidates. The two categories of

internal sources including a review of the present employees and nomination of

the candidates by employees.


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MERITS AND DEMERITS OF INTERNAL ECRUITMENT

Merits.

Following are the merits of the internal source of recruitment;

1. Increase in Morale

Recruitment through the internal sources, particularly promotion,

increases the morale of the employee. Every body in the organization know that they

can be promoted to a higher post, their morale will be boosted and their work

efficiency will increase.

2. Better Selection

The people working in the enterprise are known by the management and for selection

higher post does not carry any risk as the employees are known.

3. Economical Internal

Internal sources is highly economical because no expenditure is involved in locating

the source of recruitment and no time is wasted in the long process of selection. More

over, these employees do not need extensive training because they already know

about all the works of the enterprise.

4. Labor- turnover is Reduced

When the employees know that they can be promoted to higher posts, they do not

leave the enterprise. As a result of this policy labour turnover is reduced and the

status of the company increases.

5. Better Labour-Management Relation

When the internal source of recruitment is used the employees remains satisfied

which leads to the establishment of better labour-management relationship.

Demerits

The internal source of recruitment of employees suffer from the following demerits:


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1. Check on Young Blood

The defect of the internal source of recruitment is that the young people fully

equipped with the modern technical knowledge remain excluded

from the entry in enterprise. As a result, the old people run the enterprise with the old

ideas and experience.

2.Limited choice.

The internal recruitment of the employees reduces the area of choice. The reduction

in the area of choice means less number of applicants. The choice is to be made out of

people working in the enterprise.

3.Encourages Favoritism.

Internal source encourages favoritism in this system, the superiors usually select their

favorites. Sometimes even a less capable person is selected which harms the

enterprise. In this system , generally the personal impression of the managers about

the employee is given preference for selection.

EXTERNAL SOURCES OF RECRUITMENT

An external source of Recruitment is considered from the combination of consultant

and Advertisement

Merits and Demerits of External Recruitment

Merits.

The external recruitment has the following merits:

1.Entry of young blood.

Recruitment through external source brings in new persons with modern ideas which

can be profitable for the organization.


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2.Wide choice.

The use of external source of recruitment increases the number of candidates and

widen the choice. The managers judge the capabilities of the applicants and select the

best ones for appointment.

3.Less Chances of Favouritism.

All the candidates, under this system of recruitment, are new for the managers and

this exclude the possibility of favouratism.

Demerits.

In spite of many merits, the system of recruitment from external sources is not free

from defects. Its chief demerits are:

1.Decrease in Morale of Existing Employees.

By adopting the system of external recruitment the chances of promotion of the

present employees come to an end. Since there is no hope of any promotion the

morale of the employee decreases and they do not perform their work with

dedication.

2.Chances of Wrong Selection.

There are chances of wrong selection due to non-availability of information in case of

external recruitment. If the wrong selection will upset the working condition of the

organization.

3.Costly Source.

The external source of recruitment involves expensive advertisement, long selection

process and training after selection which increases organizational expenditure.

4.Increase in Labour-turnover.

When the employees know that they cannot be appointed on high posts in the

enterprise, they leave the organization at the first available opportunity, and as a


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result an increase in the labour-turnover which lowers the prestige or the reputation of

the enterprise.

5.Detorioration in Labour-Management Relationship.

Making use of the external source of recruitment affects the present employees and

there is an increase in the incidents of strikes and lock-out.

LEGAL & POLITICAL CONSIDERATIONS

The constitution provides for the following as the fundamental rights of a citizen:

Article 16 (1): No citizen shall, on ground of religion, race, caste, sex, descent,

place of birth, residence or any of them, be negligible for an discriminated against in

respect of any employment or office under the state.

Article 16 (3): Nothing in this article shall prevent parliament from making any law

persuading, in regard to a class or classes of employment on appointment to an office

(under the govt. of or any local or other authority within a state or union territory),

any requirement as to residence within that State or Union Territory prior to such

employment or appointment.

The constituent ensures, in the directive principles of state policy, certain safeguards

for scheduled castes, scheduled tribes & other weaker sections. Except in cases which

are covered by Article 46 of the constitution, there can be no discrimination in the

matter of employment anywhere in the country for any citizen.


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Steps on Recruitment Process

The recruitment process consist of the following steps:

Generally begins when the personnel department receives requisitions for

recruitment from any department of the company the personnel requisitions

contains detail about the positions to be filled. number of persons to be

recruited, required from the candidate, terms and conditions of employment

and at the time by which the persons should be available appointment etc.

Locating and developing the sources of required number and type of

employees.

Identifying the prospective employees with required characteristics.

Communicating the information about the organization, the job and the terms

and conditions of service.

Encouraging the identified candidates to apply for jobs in the organization.

Evaluating the effectiveness of recruitment process.

SELECTION

The selection procedure is concerned with securing relevant information about the

applicant. This information is secured in number of steps. The objective of selection

process is to determine whether an applicant meets the qualifications for a specific

job and to choose the applicant who is most likely to perform well in that job

The hiring procedure is not a single act but it is essentially a series of methods by

which additional information is secured about the applicant. At each stage facts,


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which came to light, make the acceptance or rejections of the candidate clear. Some

selection processes are quite easy and some with many hurdles this increases with the

level and responsibility of the positions to be filled.

Essentials of Selection Procedure

The selection process can be successful if the following requirements are satisfied:

1. Someone should have the authority to select. This authority comes from the

employment requisition as developed by an analysis of the work-load and

work force.

2. There must be some standard of personnel with which a prospective

employee may be compared i.e., a comprehensive job description and job

specification should be available beforehand.

3. There must be sufficient number of applicants from whom the required

number of employees may be selected.


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PROCESS OF SELECTION

Selection

Preliminary screening interview

Completion of application or form if not done previously

Employment tests

Comprehensive interview

Back ground investigation

Final employment decision


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Preliminary Interview or Screening

The initial screening is usually conducted by a special interviewer a high caliber

receptionist in the employment office. These interviews are short and are known as

stand-up interviews. The main objective of such interviews is to screen out

undesirable/unqualified candidates at very outset. Such interviews conducted by

someone who inspires confidence, who genuinely interested in people, and whose

judgment in the sizing up of the applicant is fairly reliable.

Basic criteria that must be met for an application to be eligible for consideration. If

these criteria are not met, there is no obligation on the employer to consider such

applications. The screening process therefore seeks to identify those applications that

meet the basic entry-level requirements applications that are therefore incomplete or

do not meet the basic appointment criteria are considered unsuccessful applications.

In order to be fair and objective in the screening of candidates, it is essential that a

fixed set of valid criteria be applied in terms of each and every candidate that applies

for a position.

Certain conditions should be met in relation to the format and content of -

a)Application forms b)Curricula Vitae (CVs) and c)All other relevant

documentation.

What is the purpose of short-listing?

After having completed the screening process and eliminated those applicants that do

not meet the basic requirements, the next objective should be to identify a

manageable size (pool) of applicants (a short-list) who are best suited to fill the

position successfully and from whose ranks the most suitable candidate(s) is/are to be


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selected. It is about identifying a manageable pool of best suited candidates for a

specific position, in the interest of the State, taking into account Affirmative Action

and Employment Equity objectives.

May short-listing be used to reduce a vast number of applications to a manageable

size?

As stated, the primary objective of the short-listing process is to reduce the

Number of qualifying applicants to a manageable size for purposes of selecting

the most suitable candidate. A further objective with short-listing is to rank

candidates, and to determine a cut-off point below which candidates will not be

interviewed. The criteria utilized for short-listing purposes should therefore be in

sufficient detail to allow for this and should be applied consistently.

Application Form

Application form is also known as application blank. The technique of application

blank is traditional and widely accepted for securing information from the prospective

candidates. It can also be used as a device to screen the candidate at the preliminary

level. Many companies formulate their own style of application forms depending

upon the requirement of information based on the size of the company, nature of

business activities, type and level of job etc. they also formulate different application

forms for different jobs, at different levels, so as to solicit the required information

for each job. But few companies in our companies in our country do not have

prescribed application forms.

Psychological Testing

Test is defied as a systematic procedure for sampling human behavior

TESTS ARE USED IN BUSINESS FOR THREE PRIMARY PURPOSES.


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1) for the selection and placement of new employees

2) for appraising employees for promotion potentials and

3) For counseling employees if properly used psychological tests can be of

paramount importance for each of these purposes.

Classification of Tests on the Basis Of Human Behavior

A. Aptitude or potential ability test

Such tests are widely used to measure the latent ability of a candidate to learn

new jobs or skills. They will enable us to know whether a candidate if

selected, would be suitable for a job, which may be clerical or mechanical.

These tests may take one of the following forms.

a) Mental or Intelligence Test - measures and enables to know whether he or she

has mental capacity to deal with new problems.

b) Mechanical Aptitude Test - measures the capacity of a person to learn a

particular type of mechanical wok. This could help in knowing a persons

capability for spatial visualization, perceptual speed manual dexterity, visual

motor coordination or integration, visual insights etc.

c) Psychometric tests these tests measures a persons ability to do a specific job

B. Achievement test

Also known as proficiency tests they measure the skill, knowledge which is

acquired as a result of a training program and on the job experience they

determine the admission feasibility of a candidate and measure what he/she is

capable of doing.


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a) Tests for measuring job knowledge this type of test may be oral or written.

These tests are administered to determine proficiency in shorthand and in

operating calculators adding machines dictating and transcribing machines

and simple mechanical equipment.

b) Work sample tests demand the administration of the actual job as a test. A

typing test provides the material to be typed and notes the time taken and

mistakes committed.

C. Personality tests

These tests aim at measuring those basic make up or characteristics of an

individual which are non-intellectual in their nature. In other words they probe

deeply to discover clues to an individuals value system, his emotional

reactions and maturity and motivation interest his ability to adjust himself to

the illness of the everyday life and his capacity for interpersonal relations and

self image.

a) Objective tests it measures neurotic tendencies self-sufficiency dominance

submission and self-confidence. These are scored objectively. They are paper

and pencil tests or personality inventors.

b) Projective tests it is a test in which a candidate is asked to project his own

interpretation into certain standard stimulus situation. The way in which

he/she responds to these stimuli depends on his own values, motives and

personality.

c) Situation tests these tests measures an applicants reaction when he is placed

in a peculiar situation his ability to undergo stress and his demonstration of

ingenuinity under pressure. Such tests usually relate to leaderless group


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situations, in which some problem is posed to a group and its members are

asked to reach some conclusion without the help of a leader.

d) Interest tests these tests aim at finding out the types of work in which a

candidate is interested. They are inventories of the likes and dislikes of the

people of some occupation hobbies and recreational activities. They are useful

in vocational guidance and are assessed in the form of answers to a well

prepared questionnaire.

Interviews

Interviews are a crucial part of the recruitment process for most organizations. Their

purpose is to give the selector a chance to assess the candidate and to demonstrate

their abilities and personality. Its also an opportunity for an employer to assess them

and to make sure the organization and position are right for the candidate. An

interview is an attempt to secure maximum amount of information from candidate

concerning his suitability for the job under consideration.

The recruitment process for most organizations follows a common theme:

Applications/CVs are received, either online or by post; and candidates are short-

listed and invited for interview. The interview format can vary considerably and may

include an assessment centre and/or tests. The number of interviews also varies.

Some companies are satisfied after one interview, whereas others will want to recall a

further shortlist of candidates for more. If successful at the final interview stage, an

official job offer is sent to the candidate. Interview format is determined by the nature

of the organization, but there are various standard formats.


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Chronological Interviews -These work chronologically through the candidates life

to date and are usually based on the CV or a completed application form.

Competency-Based Interviews -These are structured to reflect the competencies that

an employer is seeking for a particular job (often detailed in the recruitment

information). This is the most common type of interview for graduate

positions today.

Technical Interviews - If a candidate has applied for a job or course that requires

technical knowledge (e.g. positions in engineering or IT) it is likely, at some

stage in the selection process, that the candidate will be asked technical

questions or have a separate technical interview to test his/her knowledge.

Questions may focus on the final year project and his/her choice of approach

to it or on real/hypothetical technical problems. It seen that the candidate

proves himself/herself but also they admit to what they dont know.

Kinds of Interviews:

1. One to one interview: in this type of interview one selector interviews one

candidate alone.

2. Informal interview: in this type there are discussions between the candidate

and two or more interviewers.

3. Panel of interviews: in these pre planned standard questions ranging overall

aspects of the job are asked. They focus directly on elements of person

specification.

4. Direct planned interview: this interview is straight forward, face to face,

question and answer situation intended to measure the candidates knowledge

and background.


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5. Indirect and direct interview: in this type of interview the interviewer refrains

from asking direct and specific questions but creates an atmosphere in which

the interviewee feels free to talk and go into any subject he considers

important. The object of the interview is to determine what individual himself

considers of immediate concern, what he thinks about these problems, and

how he conceives of his job and his organization.

6. Patterned interview: in this interview a series of questions which illuminates

validated against the record of employees who have succeeded or failed on the

job.

7. Stress interview: in this interview the interviewer deliberately creates stress to

see how an applicant operates in stress situation. To induce stress, the

interviewer responds to the applicants answers with anger, silence and

criticism. This interview aims attesting the candidates job behavior and level

of withstanding during the period of stress and strain.

8. Depth interview: in this type of interview, the candidate would be examined

extensively in core areas of knowledge and skills of the job.

Background Checks and Enquiries

Offers of appointment are subject to references and security checks. The references

given in the candidates application will be taken up and a security check will be

conducted. Security checks can take a while if the candidate has lived abroad for any

period of time.

Final Selection Decision

Those individuals who perform successfully on the employment tests and the

interviews, and are not eliminated by development of negative information on either

the background investigation or physical examination are now considered to be


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eligible to receive an offer of employment. Who makes that employment offer? For

administrative purposes the personnel department should make the offer. But their

role should be only administrative. The actual hiring decision should be made by the

manager in the department that had the position open.

YIELD RATIO

A yield ratio for many recruiting step reflects the number of candidates avail at a step

and the step. For example, a series of newspaper ads may result in thousand

applications for employment of these thousand applicants 100 are judged to meet

some minimum qualifications, thus the yield ratio at this initial stages is 10% of a

group of 100 candidates 50 accepted invitations to be interviewed (yield ratio is 50%

at this stage) of the 50, 10 were given job offers 20% yield ratio.

Assuming the labor market has not changed dramatically from when the yield ratio

was derived and similar methods of the recruiting are to be used (eg. Advertising in

the same papers, employment screening resource.com, using a website or head

hunters). This ratio then can be used as the basis for planning future recruitment

efforts by going backwards from the yield ratio; the recruiter can estimate how many

applicants will be necessary In order to fill a certain number of position. The recruiter

then can adjust the recruiting efforts according with more / less advertising more or

fewer trips to college campuses and so forth.

The use of yield ratio is another area where there is a wide gap between what

academic texts are scholarly research recommends and the extent to which such data

are collected in organization to drive future recruitment planning, while almost every

scholar on the subject recommends a recruitment evaluation process to assist decision

makers in efficient recruitment planning very few companies actually collect these

data as a part of recruitment evaluation.


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OBJECTIVES OFTHE STUDY


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OBJECTIVES OF THE STUDY

To attract people with multidimensional skills and experiences that suit the

present and future organizational strategies.

To induct outsiders with a new perspective to lead the company.

To infuse fresh blood at all levels of the organization.

To develop an organizational culture that attracts competent people to the

company.

To search or head hunt/head pouch people whose skills fit the companys

Values.

To devise methodologies for assessing psychological traits.

To seek out Non Conventional development grounds of talent.

To search for talent globally and not just within the company.

To design entry pay that competes on quality but not on quantum.

To anticipate & find people for positions that do not exist yet.


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SCOPE OF THESTUDY


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SCOPE OF THE STUDY

1. To structure the Recruitment & Selection policy of Reliance Money for different

categories of employees.

2. To analyses the recruitment & Selection policy of the organization.

3. To compare the Recruitment & Selection policy with general policy.

4. To provide a systematic recruitment & Selection process.

5. It extends to the whole Organization. It covers corporate office, sites and works

appointments all over India.

6. It covers workers, Clerical Staff, Officers, Jr. Management, Middle Management

and Senior Management cadres.


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LITERATUREREVIEW


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LITERATURE REVIEW

India is a growing market. While the advanced world is seeing decline in growth,

India, china and other emerging countries will continue to experience boom time for

almost the next 20-30 years. These possess a unique challenge for the corporates who

are interested in quality recruitment. Understanding requirements is the first most

important step towards effective recruitment. Despite knowing it well both

organizations and Recruitment Service Providers (RSPs) do not spend time either in

defining requirements or in understanding them. Organizations must recruit

recruiters carefully, insist on good measures of value add, define and communicate

requirements, build and enlist high performing RSPs to work for them as brand

promoters. Similarly, RSPs must provide services appropriate to the need of the

organization , learn to say no when they cannot, improve their match making abilities

and not merely push CVs.outsourcing recruitment to external RSPs should not be

purely on cost considerations. Cost saving is only an initial excitement. RSPs those

who provide guaranteed service levels will be more effective and would be sort after

as partners for companies finding right-fit will be the key focus. Cost of wrong hires

will be measured while refining the act of recruitment says S. Chandra Sekhar who

works with CAP GEMINI CONSULTING INDIA at Mumbai in his article published

in HRD newsletter.

In one of the studies conducted by the HR consulting firm HEWITT it was found

that 45% of 129 companies surveyed did not see cost saving as their main


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consideration. Top three reasons for recruitment outsourcing in corporate are reported

to be:

Gaining outside expertise

Improving service quality

Focusing on core business.

So the companies must not go for RSPs simply to reduce the cost of recruitment but

they should focus more on improved structure, standardization, efficiency,

technology, compliance and other value adds.

Behind every Attrition there is recruitment! Whenever an employee leaves an

organization without informing and without giving notice or leaves the organization

in the middle of the project it should be known that he or she is joining some other

organization. Many times the employees of the recruitment consultants are hired by

their own clients and are asked to join at a very short notice period. They are been

told that relieving letter is not required and some even offer incentives for early

joining. There must be some guidelines and ethics for recruitment so that there can be

fair recruitment policies. There must be some ethical guidelines such as

a) Notice period must be served and nobody must be hired without relieving

letter or providing proof of serving the notice period.

b) Corporate should not hire anyone who has spent less than one year in his

current organization. The logic is obvious. Employees six months to begin

their contribution and at least one year is required to recover recruitment

process. More importantly if some body is hired who has worked less than a

year with the current organization, that individual will ditch in even shorter

period.


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c) Corporates should not head hunting from competition. They should advertise

and encourage employees seeking change to voluntarily respond to this

advertisement.

d) Corporate should not bail out the prospective employee commitments such as

employment bond etc. the corporate should realize that employee signed the

bond and if he wants to break it, he should do at his own cost and the

corporate should not reimburse or compensate him for violating the

employment contracts says Mr. T. MURALIDHARAN who is the chairman

of TMI NETWORK one of the Indias leading recruitment consultancy.

In one of the study conducted on recruitment and selection process at BIOLOGICAL-

E LTD conducted by Manik Rao in the year 2005. It was found that company has

used internal search for recruiting the employees into more higher or the positions in

different departments who can fit into the job. It was found that the company has

done it by considering it as the most cost effective way of filling the vacancies. It has

also been found that the company opted for external sources such as advertisement

agencies to fill vacancies. Employee referrals were also one of the internal sources of

recruitment.

In another study on recruitment and selection in DW PRACTICE LLC which is a HR

consultancy, it was found that most of the employees felt that the telephonic

interview is not effective and instead direct interviews are more feasible.

These are some of the studies conducted earlier on the recruitment and selections.


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COMPANY PROFILE


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COMPANY PROFILE


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RELIANCE INDUSTRIES LIMITED

Reliance Group Holdings has grown from a small office data-processing

equipment firm in 1961 into a major insurance and financial-services group in one

generation under one chief.

Reliance's insurance operations constitute the nation's 27th-largest property

and casualty operation. The parent company also includes a development subsidiary

in commercial real estate. Reliance's international consulting group contains several

subsidiaries in energy, environment, and natural resources consulting. A financial arm

invests in other businesses, primarily television stations.

Reliance Insurance started as the Fire Association of Philadelphia in 1817,

organized by 5 hose and 11 engine fire companies. It became the nation's first

association of volunteer fire departments.

Business got a boost as a result of the Great Chicago Fire of 1871.The

association soon developed a field of agents to write policies across the country. For

the first two years, shareholders received dividends twice a year of $5 a share, which

increased gradually to $10 in 1876.

In 1972, the Reliance insurance group divided its pool so that Reliance

Insurance Company and its subsidiaries handled most standard lines, while United

Pacific Insurance Company handled the nonstandard and other operations.


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In 1977, the company moved into real estate, forming Continental Cities

Corporation, which became Reliance Development Group, Inc. This division handled

all real estate operations of the parent company and other subsidiaries.

Reliance Capital Group, L.P. constituted the investment branch of the

Reliance conglomerate.

In December 1989, Reliance Capital sold its investment, Days Corporation, parent

company of Days Inn of America, the world's third-largest hotel chain; it had been

purchased in 1984.

Reliance Industries Limited. The Group's principal activity is to produce and

distribute plastic and intermediates, polyester filament yarn, fibre intermediates,

polymer intermediates, crackers, chemicals, textiles, oil and gas. The refining

segment includes production and marketing operations of the Petroleum refinery. The

petrochemicals segment includes production and marketing operations of

petrochemical products namely, High and Low density Polyethylene.

"Growth has no limit at Reliance. I keep revising my vision.

Only when you can dream it, you can do it."

Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a

global leader in the materials and energy value chain businesses.


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He is credited to have brought about the equity cult in India in the late seventies and

is regarded as an icon for enterprise in India. He epitomized the spirit 'dare to dream

and learn to excel'.

The Reliance Group is a living testimony to his indomitable will, single-minded

dedication and an unrelenting commitment to his goals.

RELIANCE MUTUAL FUND

This group dominates this key area in the financial sector..This mega business

houses show that it has assetsunder management ofRs. 90,938 crore(US$ 22.73

billion) and an investor base of over6.6 million

(Source:www.amfiindia.com).Reliances mutual fund schemes are managed by

Reliance Capital Asset Management Limited(RCAM), a subsidiary of

Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM.

The company notched up a healthy growth of Rs. 16,354 crore(US$ 4.09

billion)in assets under management in February2008 and helped propel the total

industry-wide AUM to Rs. 565,459 crore (US$ 141.36 billion)(Source:

indiainvestments.com). A sharp rise infixed maturity plans (FMPs) and collection of

Rs. 7000 crore (US$ 1.75 billion) through new fund offers (NFOs) created this surge.

In AU rankings, Reliance continues to be in the number one spot.

India's Best Offering: Reliance Mutual Fund

Investing has become global. Today, a lot of countries are waking up to the

reality that in order to gain financial growth, they must encourage their citizens to not


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only save but also invest. Mutual funds are fast becoming the mode of investment in

the world.

In India, a mutual fund company called the Reliance Mutual Fund is making waves.

Reliance is considered India's best when it comes to mutual funds. Its investors

number to 4.6 billion people. Reliance Capital Asset Management Limited ranks in

the top 3 of India's banking companies and financial sector in terms of net value.

The Anil Dhirubhai Ambani Group owns Reliance; they are the fastest growing

investment company in India so far. To meet the erratic demand of the financial

market, Reliance Mutual Fund designed a distinct portfolio that is sure to please

potential investors. Reliance Capital Asset Management Limited manages RMF.

Vision And Mission

Reliance Mutual Fund is so popular because it is investor focused. They show their

dedication by continually dishing out innovative offerings and unparalleled service

initiatives. It is their goal to become respected globally for helping people achieve

their financial dreams through excellent organization governance and customer care.

Reliance Mutual fund wants a high performance environment that is geared at making

investors happy.

RMF aims to do business lawfully and without stepping on other people. They want

to be able to create portfolios that will ensure the liquidity of the investment of people

in India as well as abroad. Reliance Mutual Fund also wants to make sure that their

shareholders realize reasonable profit, by deploying funds wisely. Taking appropriate


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risks to reach the company's potential is also one of Reliance Mutual Fund's

objectives.

Schemes

To make their packages more attractive, Reliance Mutual Fund created proposals

called The Equity/ Growth scheme, Debt/Income Scheme, and Sector Specific

Scheme.

i. Debt/Income Scheme, and Sector Specific Scheme.

The Equity/ Growth scheme give medium to long term capital increase. The

major part of the investment is on equities and they have fairly high risks. The

scheme gives the investors varying options like, capital augmentation or dividend

preference. The choices are not deadlocked because if you want you may change

the options later on.

Providing steady and regular income is one of the Debt/Income Scheme's

primary goals. The Debt/Income scheme has in its portfolio government

securities, corporate debentures fixed income securities, and bonds. returns on

Sector Specific Scheme are dependent on the performance of the industry at

which your money is invested upon. Compared to diversified funds this is a lot

more risky and you will need to really give your time on observing the market.

Although RMF is gaining good ground in the financial market, remember

that they are a risk taking bunch. They give higher profit because they take a lot

of risks. So, if you are faint hearted, then Reliance Mutual Fund is not for you.


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GROWTH OF RELIANCE MONEY THROUGH RECOGNITION

Growth through Recognition

Reliance has merited a series of awards and recognitions for excellence for businesses

and operations.

Corporate Ranking and Ratings:

Reliance featured in the Fortune Global 500 list of Worlds Largest Corporations

for the fourth consecutive year.

Ranked 269th in 2007 having moved up 73 places from the previous year.

Featured as one of the worlds Top 200 companies in terms of Profits.

Among the top 25 climbers for two years in a row.

Featured among top 50 companies with the biggest increase in Revenues.


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Ranked 26th within the refining industry.

Reliance is ranked 182nd in the FT Global 500 (up from previous years 284th rank).

Petro Fed, an apex hydrocarbon industry association, conferred the Petro Fed

2007 awards in the categories of Refinery of the Year and Exploration &

Production - Company of the Year.

Brand Reliance was conferred the Bronze Award at The Buzziest Brands

Awards 2008, organized by agencyfaqs!

Institute of Economic Studies conferred the Udyog Ratna award in October

2007 for contributions to the industry.

Chemtech Foundation conferred the Hall of Fame in February 2008 for

sterling contributions to the industry.

Chemtech Foundation conferred the Outstanding Achievement - Oil

Refining for work at the Jamnagar Manufacturing Division.

Petroleum Federation of India conferred the Refinery of the Year Award - 2007 to

Jamnagar Manufacturing Division

The Plastics Export Promotion Council - PLEXCOUNCIL Export Award in

the category of Plastic Polymers for the year 2006-2007 was awarded to

Reliance being the largest exporter in this category.

HEALTH:-

Jamnagar Manufacturing Division was conferred the Golden Peacock Award

for Occupational Health & Safety - 2007 by Institute of Directors.

Jamnagar Manufacturing Division was conferred the ICC Award for Water

Resource Management in Chemical Industry.


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Jamnagar Manufacturing Division was conferred the Good House Keeping

Award from Baroda Productivity Council.

Jamnagar Manufacturing Division was conferred the BEL-IND Award for

the best scientific paper at the 58th National Conference of Occupational

Health.

Naroda Manufacturing Division was conferred the Safety Award and

Certificate of Appreciation presented by Gujarat Safety Council &

Directorate of Industrial Safety & Health, Gujarat State for the recognition of

safety performance at the 29th State Level Annual Safety Conference.

Dahej Manufacturing Division received BSC 5-Star rating from British

Safety Council, UK.

Dhenkanal Manufacturing Division received the 2nd Prize for Longest

Accident Free Period from the Honble Minister of Labour, State of Orissa.

Hoshiarpur Manufacturing Division bagged the First Prize in Safety in

Punjab, organized by Punjab Safety Council.

Patalganga Manufacturing Division won the Gold Medal at CASHe (Change

Agents for Safety, Health and Environment) Conference. It also won the III

Prize in Process Management category for Presentation on Safety through

Design in chemical process industry in Petrosafe 2007 Conference.

Kurkumbh Manufacturing Division won the Greentech Safety Award silver

trophy for outstanding achievement in safety management in chemical sector.

Hazira Manufacturing Division received the TERI Corporate Environmental

Award (Certificate of Appreciation) for PET recycling project.


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Nagothane Manufacturing Division received the Shrishti G-Cube Award for

Good Green Governance from Minister for Commerce and Industry, on World

Earth Day.

Training and Development:-

Jamnagar Refinery was adjudged the winner of the Golden Peacock National

Training Award -2007.

Patalganga Manufacturing Division won the ASTD (American Society for

Training & Development) Excellence in Practice Award for innovative

practice titled Learning Functions role as Business partner: Empowering

people with Knowledge to achieve Business Goals.

Reliance won the CNBC TV-18 instituted Jobstreet.com Jobseekers Employer of

Choice Award.

Energy Excellence:-

Exploration & Production (E&P) Division won The Infraline Energy

Excellence Awards 2007: Hydrocarbon Columbus Award for Excellence in

Petroleum Exploration.

Patalganga Manufacturing Division won the First Prize in Energy

Conservation in State of Maharashtra organized by Maharashtra Energy

Development Agency (MEDA).

Jamnagar Manufacturing Division won the Oil & Gas Conservation Award

-2007 from the Centre for High Technology, Ministry of Power & Natural

Gas for the excellent performance in reduction/elimination of steam leaks in

the plant.


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Jamnagar Manufacturing Division was the recipient of the Infraline Energy

Award-2007 by Ministry of Power.

Hazira Manufacturing Division won the Government of India Energy

Conservation Award (2007) conferred by the Bureau of energy efficiency and

Ministry of Power.

Hazira Manufacturing Division was adjudged Excellent Energy Efficient

Unit at Energy Summit - 2007 by CII.

Vadodara Manufacturing Division received the CII award for Excellence in

Energy Management - 2007 as energy efficient unit. This division also received

the 2nd prize in National Energy Conservation Award 2007 from Bureau of

Energy efficiency, Ministry of Power, Government of India.

The Companys manufacturing divisions at Vadodara and Hazira were honoured

with CII-National award for excellence in water management - 2007 as water

efficient unit in Within the fence category. Additionally, Hazira Manufacturing

Division was honoured as water efficient unit Beyond the Fence category.

Quality:-

For the first time ever, globally, a petrochemical company bagged the

Deming Prize for Management Quality. The Quality Control Award for

Operations Business Unit 2007 was awarded to the Hazira Manufacturing

Division for Outstanding Performance by Practicing Total Quality

Management.

QUALTECH PRIZE 2007, which recognizes extraordinary results in

improvement and innovation, was won by Hazira Manufacturing Division for

its Small Group Activity Project.


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Vadodara Manufacturing Divisions Polypropylene-IV (PP-IV) plant was

conferred the Spheripol Process Operability Award-2006 for the highest

operability rate with an on stream factor 98.97% by M/s. BASELL, Italy.

Allahabad Manufacturing Division won the Excellent Category Award at

National Convention of Quality Circle (NCQC) - 07.

Six-Sigma:-

Lean Six sigma project on Reducing retention time of caustic soda lye

tankers at Jamnagar won the 1st prize in the national level competition held

by Indian Statistical Institute (ISI).

Patalganga Manufacturing Divisions Six Sigma Project on Improve Transfer

Efficiency for Automatic winders in PFY won the 2nd Prize for Best design

for Six Sigma Project in International Six Sigma Competition organized by

IQPC (International Quality and Productivity center).

Barabanki Manufacturing Division won the 3rd prize in All India Six Sigma

case study contest 2008 for the Case study on Reduction of waste of Plant 2

from 16% to 8%.

Hoshiarpur Manufacturing Division won the 2nd prize in Six Sigma

competition at National Level organized by ISI and Quality Council of India

(in manufacturing category), while Dhenkanal and Barabanki Manufacturing

Divisions won the 3rd prize.

Vadodara Manufacturing Divisions Six Sigma project won the 1st prize as the

Best Six Sigma project at National level by CII.


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Technology, R&D and Innovation:-

Vadodra Manufacturing Divisions R&D bagged an award from Indian

Institute of Chemical Engineers for Excellence in Process / Product

Development for the work on Eco friendly Process for Acetonitrile

Recovery.

DSIR National Award for R&D Efforts in Industry (2007) was conferred on

Hazira Manufacturing Division for the Cyclehexane Recovery Project.

Patalganga Manufacturing Divisions Project titled Augmentation of ETP and

use of biogas in Fired heaters won the Best Innovative Project from CII.

Reliance bagged the Innovation Award at Tech Converge 2007 for

innovative developments in short-cut fibres.

Hazira Manufacturing Division won the Golden Peacock Innovation Award -

2007 for its Cyclohexane Recovery Process.

Information Technology:-

CIO of the Year Award for the best IT-enabled organization in India for the

Year 2007.

Ones to Watch - CIO - USA Award, for figuring among the top 20

organizations fostering excellence in IT team.

The Skoch Challenger Award conferred for the best IT Head (managing the

most IT enabled organization) of the Year 2007.

Best IT Implementation Award, by PC Quest for Knowledge Management

Systems portal (KMS).


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CIO Excellence Award for Chemical Industry Information Technology

Forum for exemplary Information Technology implementation amongst

global chemical companies.

CTO Forum Hall of Fame Award for the best CIOs in India for not only

providing service to their

PRODUCT PROFILE


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PRODUCT PROFILE

RELIANCE MONEY

CATEGORIES OF MUTUAL FUND:


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Equity/Growth Schemes

The aim of growth funds is to provide capital appreciation over the medium to

long- term. Such schemes normally invest a major part of their corpus in equities.

Such funds have comparatively high risks. These schemes provide different options

to the investors like dividend option, capital appreciation, etc. and the investors may

choose an option depending on their preferences. The investors must indicate the

option in the application form. The mutual funds also allow the investors to change

the options at a later date. Growth schemes are good for investors having a long-term

outlook seeking appreciation over a period of time.

Equity funds: These funds invest in equities and equity related

instruments. With fluctuating share prices, such funds show volatile

performance, even losses. However, short term fluctuations in the


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market, generally smoothens out in the long term, thereby offering

higher returns at relatively lower volatility. At the same time, such

funds can yield great capital appreciation as, historically, equities

have outperformed all asset classes in the long term. Hence,

investment in equity funds should be considered for a period of at

least 3-5 years. It can be further classified as:

i) Index funds- In this case a key stock market index, like BSE Sensex or Nifty is

tracked. Their portfolio mirrors the benchmark index both in terms of composition

and individual stock weightages.

ii) Equity diversified funds- 100% of the capital is invested in equities spreading

across different sectors and stocks.

iii|) Dividend yield funds- it is similar to the equity diversified funds except that

they invest in companies offering high dividend yields.

iv) Thematic funds- Invest 100% of the assets in sectors which are related through

some theme.e.g. -An infrastructure fund invests in power, construction, cements

sectors etc.

v) Sector funds- Invest 100% of the capital in a specific sector. e.g. - A banking

sector fund will invest in banking stocks.

vi) ELSS- Equity Linked Saving Scheme provides tax benefit to the investors.

Balanced fund: Their investment portfolio includes both debt and equity. As a

result, on the risk-return ladder, they fall between equity and debt funds. Balanced

funds are the ideal mutual funds vehicle for investors who prefer spreading their risk

across various instruments. Following are balanced funds classes:

i) Debt-oriented funds -Investment below 65% in equities.

ii) Equity-oriented funds -Invest at least 65% in equities, remaining in debt.


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Debt fund: They invest only in debt instruments, and are a good option for investors

averse to idea of taking risk associated with equities. Therefore, they invest

exclusively in fixed-income instruments like bonds, debentures, Government of India

securities; and money market instruments such as certificates of deposit (CD),

commercial paper (CP) and call money. Put your money into any of these debt funds

depending on your investment horizon and needs.

i) Liquid funds- These funds invest 100% in money market instruments, a large

portion being invested in call money market.

ii) Gilt funds ST- They invest 100% of their portfolio in government securities of

and T-bills.

iii) Floating rate funds - Invest in short-term debt papers. Floaters invest in debt

instruments which have variable coupon rate.

iv) Arbitrage fund- They generate income through arbitrage opportunities due to

mis-pricing between cash market and derivatives market. Funds are allocated to

equities, derivatives and money markets. Higher proportion (around 75%) is put in

money markets, in the absence of arbitrage opportunities.

v) Gilt funds LT- They invest 100% of their portfolio in long-term government

securities.

vi) Income funds LT- Typically, such funds invest a major portion of the portfolio

in long-term debt papers.

vii) MIPs- Monthly Income Plans have an exposure of 70%-90% to debt and an

exposure of 10%-30% to equities.

viii) FMPs- fixed monthly plans invest in debt papers whose maturity is in line with

that of the fund.

Return Safety Volatility Liquidity Convenience


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Equity High Low High High Moderate

Bonds Moderate High Moderate Moderate High

Co.

Debentures

Moderate Moderate Moderate Low Low

Co. FDs Moderate Low Low Low Moderate

Bank

Deposits

Low High Low High High

PPF Moderate High Low Moderate High

Life

Insurance

Low High Low Low Moderate

Gold Moderate High Moderate Moderate Gold

Real Estate High Moderate High Low Low

Mutual

Funds

High High Moderate High High

Debt/Income Schemes

The aim of income funds is to provide regular and steady income to investors. Such

schemes generally invest in fixed income securities such as bonds, corporate

debentures, Government securities and money market instruments. Such funds are

less risky compared to equity schemes. These funds are not affected because of

fluctuations in equity markets. However, opportunities of capital appreciation are also

limited in such funds. The NAVs of such funds are affected because of change in

interest rates in the country. If the interest rates fall, NAVs of such funds are likely to

increase in the short run and vice versa. However, long term investors may not bother

about these fluctuations.

1. Systematic Investment Plan: under this a fixed sum is invested each month on a

fixed date of a month. Payment is made through post dated cheques or direct debit

facilities. The investor gets fewer units when the NAV is high and more units when

the NAV is low. This is called as the benefit of Rupee Cost Averaging (RCA)


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2. Systematic Transfer Plan: under this an investor invest in debt oriented fund and

give instructions to transfer a fixed sum, at a fixed interval, to an equity scheme of the

same mutual fund.

3. Systematic Withdrawal Plan: if someone wishes to withdraw from a mutual fund

then he can withdraw a fixed amount each month.

Sector Specific Schemes

These are the funds/schemes which invest in the securities of only those sectors or

industries as specified in the offer documents. e.g. Pharmaceuticals, Software, Fast

Moving Consumer Goods (FMCG), Petroleum stocks, etc. The returns in these funds

are dependent on the performance of the respective sectors/industries. While these

funds may give higher returns, they are more risky compared to diversified funds.

Investors need to keep a watch on the performance of those sectors/industries and

must exit at an appropriate time. They may also seek advice of an expert.


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RECRUITMENT & SELECTION PROCESS OFRELIANCE MONEY

Following includes in the procedure

RECRUITMENT&

SELECTION

PROCESS


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JOB ANALYSIS FORM

Job Title

. Date Location ..

Department Analyst.

Code No

Job Analysis Form

Job Specification Form

Interview Schedule

Application Form forEmployment

Interview Assessments Form


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Reason for the job Supervised..

Wage or salary range

Relation to other jobs: Promotion from..Promotion to..

Job summary:Work performed:

Major duties :.

Other tasks :

Equipment/Machines used:.

Working Condition

Skill Requirements:

Education: (Grade or Year)

Training :

Job experience : (a)Type of experience..

(b) Length of experienceSupervision : (a) Positions supervised.

(b) Extent of supervision..

Job knowledge : (a) General

(b) Technical

(c) Special

Responsibility : (a) For product and material .

(b) For equipment and machinery

(c) For work of others.

(d) For safety of others

Physical Demands : Physical efforts

Surroundings

Hazards

Resource fulness

JOB SPECIFICATIONS FORM

Job Title : Drill Operator Department

Job Code Date..


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REQUIREMENTS

1. EDUCATION : Ability to read and understand production orders and to

make simple calculations. Preferably High School Certificate.

2. TRAINING AND EXPERIENCE: No special training required . Requires

one month experience to learn job duties and to attain acceptable degree

of proficiency.

3. PHYCIAL EFFORT: No special physical effort is required.

4. MENTAL SKILL: Requires reasoning to interpret instructions and

drawings and productions orders. Must be able to concentrate when

operating.

5. SUPERVISION : Routine checking and no close supervision required.

Specific but no detailed instructions.

6. Responsible for own work only. Only routine responsibility for safety of

others.

The Reliance Money has the following way which it follows for

recruiting the person

A.PURPOSE

The purpose of the company is to define the procedure of Recruitment &

Selection in the company.

B.SCOPE

The scope of the company is to find the individuals seeking employment in

the company.

C.RESPONSIBILITY


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The Responsibility is on the Manager-HRD/Operations Director-EAI

Systems/Operation Director-TPB-India.

D.AUTHORITY

The Authority in the company is commenstrate with responsibility

E.PROCEDURE STEPS

1.MAN POWER RECRUITMENT

As and when the need arises , the Manpower Requirement Form is dually

filled by the HOD/Group Manager of the concerned department and

forwarded to the HRD Department.

The HRD Department initiates activity on the recruitment once the

"Manpower Requirement" form is approved by MD.

All "Manpower Requirement "Forms are maintained by the HRD Department.

2.IDENTIFYING SOURCES OF RECRUITMENT

On the basis of Manpower Requirement Form a recruitment source is

identified. The source of recruitment could be external or internal.

INTERNAL SOURCE OF RECRUITMENT

Internal Transfer/Promotion with necessary screening, training and selection

to meet the specified requirement. It would be desirable to utilize the internal

sources before going outside to attract the candidates. The two categories of


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internal sources including a review of the present employees and nomination

of the candidates by employees.

The COMPANY suggests that the effective utilization of internal sources

necessitates an understanding of their skills and information regarding

relationships of jobs. This will provide possibilities for horizontal and vertical

transfers within the enterprise eliminating simultaneous attempts to lay off

employees in one department and recruitment of employees with similar

qualification for another department in the company. Promotions and Transfers

within the plant where an employee is best suitable improves the morale along

with solving recruitment problems.

These measures can be taken effectively if we established job families through

job analysis programmes combining together similar jobs demanding similar

employee characteristics. Again, employee can be requested to suggest

promising candidates. Sometimes in a company the employees are given prizes

for recommending a candidate who has been recruited. The usefulness of this

system in the form of loyalty and its wide practice, it has been pointed that it

gives rise to cliques posing difficulty to management.

Therefore, in this company before utilizing the system attempts should be

made to determine through research whether or not employees thus recruited

are effective on particular jobs. Usually, internal sources can be used

effectively if the number of vacancies are not very large, adequate, employee

records are maintained, jobs do not demand originality lacking in the internal

sources, and employees have prepared themselves for promotion.

EXTERNA L SOURCE S OF RECRUITMENT


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An external source of Recruitment is considered from the combination of the

following options:

CONSULTANT

Consultant are given the requirement specifying qualifications, experience and

all other necessary details. In consultant we considers the employment agencies,

educational and technical institute, casual, labor and mail applicants, trade

unions and other sources. Our company have developed markedly in large

cities in the form of consultancy services.

Usually this company facilitate recruitment of technical and professional

personnel. Because of their specialization, they effectively assess the needs of

their clients and aptitude and skills of the specialized personnel. They do not

merely bring an employer and an employee together but computerize lists of

available talents, utilizing testing to classify and used advance techniques of

vocational guidance for effective placement purposes.

Educational and technical institutes also forms an effective source of manpower

supply. There is an increasing emphasis on recruiting students from different

management institutes and universities' commerce and management departments

by recruiters for positions in sales, accounting, finance, personnel and

production. These students are recruited as management trainees and then

placed in special company training programmes. They are not recruited for

particular positions but for development as future supervisors and executive.

Indeed , this source provides a constant flow of new personnel with leadership

personalities. Vocational schools and industrial training institutes provides

specialized employees, apprentices, and trainees for semiskilled and skilled


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All related documents of Advertisements released are maintained in the

"Advertisement" file.

In addition to the above sources, several organizations develop sources through

voluntary organizations such as clubs, attracts employees of competitors looking

for a change or good prospectus for employment, utilize women, older workers

and physically handicapped for specific positions where they are best suitable,

and use the "situation wanted" advertisement in newspapers.

3. SELECTION

A .SCREENING/SHORTLISING

Resumes received from consultants and/or from the advertisements released in

Newspaper/Magzine are screened by HRD Department in consultation with the

concerned department.

B.INTERVIEW CALL

The shortlisted candidates are contacted for interview through an interview call

letter/telephone call/e-mai l or through the consultants.

C.INTERVIEW SCHEDULE

Interview schedule is prepared and sent to the concerned Department's HOD,

Interview panel and a copy is kept for HRD Department records. The

Interview Schedule include the following requirement.


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INTERVIEW SCHEDULE

Authorized Signatory

Preliminary interview of the candidates is conducted by HRD based on

Personal Data Format given Reliance Moneyow filled up by the candidate

with the help of technical person along with the Dept.

Date:

Venue:

Position:


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NAME OF THE CANDIDATE TIME REMARKS

INTERVIEW CALL LETTER

Date ----------------

Dear Sir,

___________________________________________________

This has reference to your application for the above mentioned position in

our organisation.

We are pleased to invite you for a meeting with the undersigned

on.ata.m./p.m. please confirm this appointment.

We have enclosed a blank personal Data Form. Please fill this in and

bring with you along with your educational and experience certificates /

testimonials in original for the meeting.

No TA/DA shall be admissible for attending this interview.

You will be reimbursed to and for train fare by 1 st / 2nd class for attending this

interview.

We take this opportunity to thank for the interest you have shown in

joining our organisation.

Yours sincerely,

For RELIANCE MONEY

D.PERSONAL DATA FORM

Any candidate appearing for an interview in the company is required to fill inhis/her particulars in the prescribed "Personal Data Form"

APPLICATION FORM FOR EMPLOYMENT

CONFIDENTIAL

Refrence(including advt. ref. if any)

PositionApplied for

Time forJoining


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PERSONAL DETAILS:

Name: ( in Block letters as registered in school certificate)

(First Name) (Middle Name) (Last Name)

Present Address:

Permanent Address

Tel. Res. Mob.

Tel. Off. E-mail (Personal)

Date of Birth Age Place of Birth State

Martial Status: Married/ Single Children: Male of age

Female of age

EDUCATION: Details of all examination passed from matriculation or

equivalent onwards

Exam/Degree/Diploma/Certificate

School/College/University

YearofPassing

Branch ofStudyElectives/SpecializationSubjects

Class/Grade/Division& % ofmarks

Regular/PartTime/Correspondence

State reasons for gaps in studies, if any:Academic Achievements:

PROJECT WORK/PUBLICATION/THESIS

Organization Details From To

BRIEF DETAILS OF ANY PRESENTATION/ PUBLICATION/ THESIS, IF

ANY

WORK EXPERIENCE:

Present/ Last Job

Organization Period of Employment


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Address From: To:

Nature of Business

Telephone Current Position/Position held

Sales Turnover of the organization No. of employees in the orgn.

Sales Turnover of your unit No. of employees in your unit

No. of employees in the Dept. you work No. of Executive No.of-Non- Executive

No. of Direct report: No. of Executives No. of Non-Executive

List your 3 core competencies List 3 Key Achievements in your career1. 1.2. 2.3. 3.

Please draw a brief organization chart of your dept./ Division and outline yourresponsibilities (Attach sheets giving details if required)

Organisation Chart: Current Responsibilities


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Previous Employment Details: (Start from recent employment)

Name of

the

organizati

on

Period

From To

Position

Joined

Position

Last

Held

Brief description

of responsibilities

Last drawn

Gross salary

Per month

Present Remuneration Drawn:

A. Monthly:

Basic DA HRA/Lease Conveyance Any other (mentiondetails)

Totalp.m.

Totalp.a.

B. Annual:

LTA Variable pay/Bonus Medical Any other Total p.a.

C. Other Terminal Benefit p.a.

Pf Superannuation Gratuity Totalp.a.

D. Gross p.a.

(Total of A, B & C)

E. Other perk not included in Gross

Due date of next increment: Any other information relating to the above


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GENERAL

Language Known

Language Read Write Speak

1. Have you any relative working in RELIANCE MONEY?Yes/No

If yes please give details : Name Relationship

Designation Unit / Department

2. Have you earlier applied for any position in any of our factories/Offices? Yes/No

3. Is your spouse e employed? Yes/No

4. Have you any locational constraints? Yes/No

If yes, please give details/ reasons

5. Can you undertake frequent t travels: Yes/No

6. Extra Curricular Activities:

7. Interests/Hobbies:

8. References: Please give names, addresses & Telephone Nos., of twoPersons other than relatives to whom we may refer about you.

1. 2.

Any other information you would like to add:

Declaration

I declare that the information given by me in this application is true and complete

to the best of any knowledge and Reliance Moneyief. I am not aware of anycircumstances which might affect my fitness for employment. If any time, later, itis found that I have not disclosed any material information or have given incorrector false information, the company will be liberty to terminate my appointmentwithout any notice or compensation.

Date: Place: Signature of Applicant


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We thank you for information and assure you that this will be kept in strictConfidence.

E.CONDUCTING INTERVIEWS

Interviews are conducted by an panel, which includes a staff member from the

concerned department and may include an had representative.

F.INTERVIEW ASSESSMENT

Interview assessment Format is filled up by the interview panel immediately afterthe interview and all the relevant papers are forwarded to the HRD Department atthe earliest. The Interview Assessment include the following form which considersthe following information:

INTRVIEW ASSESSMENT FORM

Interviewees Name Date 2006Post Applied For Venue

1. 2. 3.ASSESSMENT FACTORS RATING REMARKS

Appearance

Technical Knowledge

General Knowledge

Experience

Communications Skills

Innovative Thinking& Logic

Growth Potential

Decision Making

Leadership Skills

MaturityInterest/Cultural background

A=Very Good B=Good C=Average D=RelianceMoneyow Average

Overall strong points

Overall weak points

Written Test/Remarks

Reason for leavingRemuneration Expected

Suitable for any otherDeptt./job

Comments, if any


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G.SALARY FIXATION

"Staff comparison statement" and " salary proposal" formats are used for this

purpose.

H.OFFER AND APPOINTMENT LETTER

A candidate selected for appointment is issued an offer letter mentioning theexpected date of joining.

Extension of time to join duties is granted to the candidate purely at

Management discretion.

A Detailed Appointment letter is issued after the individuals joins and fills the

joining report.

The offer and appointment letters are signed to all new joiners.

4.JOINING FORMALITIES

All the new joinees are required to fill-up the relevant papers such asNominations under Insurance and Gratuity schemes, PF Declaration Forms etc. andall these records are maintained in their personal files.Induction Training is organized for the new joinees. Induction is organizedinternally by HRD Department depending on the number of joinees in a month.Training needs o f the new joinees are identified as per the procedure.

On the joining detailed appointment letters are issued as per Reliance Moneyowmentioned levels:-

Selected Not- Kee Pendin Call for final


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1) APPOINTMENT LETTER Language for Reliance Moneyow Asst.

Manager level is given in the following format

RELIANCE MONEYOW ASSTT &MANAGER LEVEL

___________________ Dated :______________________________________

___________________

LETTER OF APPOINTMENT

Dear Mr. __________________________

With reference to the offer letter no.______________________dated __________ we are

pleased to appoint you as ____________________ on the following terms andconditions:

Ordinarily your period of probation will be Six months which could be further extended

for a period not exceeding three months and during probationary period/extended

probationary period your services are liable to be terminated without any notice or

without assigning any reason or compensation in lieu thereof.

EMOLUMENTS:

A) you will be paid following emoluments:

Basic Salary : Rs. __________ p.m.

House Rent Allowance : Rs. __________ p.m.

Local Travelling Expenses : Rs. __________ p.m.

You shall also be entitled to benefits like Bonus,Gratuity, PF, ESI & L.T.C as perrules of the company.

B) Further increment will be based on efficient, satisfactory and loyal discharge ofduties and may be withheld in case the standard of work and conduct is foundsubnormal of may be accelerated in case the same is adjudged to be commercial atthe discretion of the management.


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Your place of posting will be at our _________________situated at _______________-_____. However, you are liable to be transferred to any of our sites/factory/officeat the discretion of the management.

1. During the period of your employment, you shall not secure or try to secure any other

post and undertake any course of study or work on part time basis without thepronouncement or the Management in writing. You will also not hold any office ofprofit outside the company or engage yourself in any other trade or business eitherpart time, or full time, whether for profit or gain, or on honorary basis or otherwise,engage in an insurance agency or commission agency etc. without the prior writtenpermission of the management.

2. Your hours of attendance shall be regulated to suit the duties entrusted to you fromtime to time, subject to the statutory provisions.

3. You shall be governed by the rules and regulations of the company in force from timeto time, that may be applicable to you.

4. In the event of your confirmation in writing, in addition to the terms and conditionsmentioned in this letter, except para (1):

a) You will be liable to be retired on your reaching the age of 58 years or earlier iffound medically unfit. The organization shall have the right to have you medicallyexamined as and when considered necessary by a registered medical practitioneror by the Companys medical officer.

b) The employment will be liable to be terminated on either by giving one monthsbasic salary in lieu thereof. However, no notice would be necessary to be given bythe organisation if in their opinion you are found guilty of any gross misconductas generally understood in employment, particularly disobedience,insubordination, insolence and acts subversive of discipline, habitual negligenceof duties, distrust, dishonesty or embezzlement, illegal strike, habitual lateattendance, absence, go-slow etc.

5. In case any misconduct is alleged against you, you are liable to be suspendedforthwith without any salary or allowance, pending such inquiry, if in an inquiry youare exonerated of the charges, you will be entitled to full salary as if you were onduty. In the event you are found guilty of the charges levelled, irrespective of thepunishment imposed, you shall not be entitled to any payment for the period ofsuspension.

6. The above mentioned terms and conditions of services shall prevail so long as thesame are not either modified or they will also be subject to such other and furtherrules and regulations which may be notified by us by putting a notice in writing onthe notice board put inside the premises.


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7. Your date of joining the services in the organization is_________________________________

8. This letter is being offered to you in duplicate. In case the terms and conditions

expressly enumerated above are acceptable to you, please sign the duplicate copy ofthis letter in token of your having read, understood and accepted the terms andconditions mentioned above.

9. Please note that the court of jurisdiction shall be at New Delhi.

We welcome you to our organization and wish you a successful career with us.

Yours sincerely,For RELIANCE MONEY

AUTHORISED SIGNATORY

ACCEPTANCE

I have clearly understood the terms and conditions mentioned in this letter ofappointment and I hereby accept the same.

NAME SIGNATURE DATE


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2) Appointment letter language for asst. Manager to manager is given in

the following format.

FOR ASSISTANT MANAGER TO MANAGER

Dear Mr.Date..

APPOINTMENT LETTER

With reference to the offer letter no._________________dated________________, we are pleased to appoint you in our organisation onthe following terms and conditions:-

1) Designation : Your position in the company will be

2) Date of Joining: Your date of joining the services in the organisationis

3) Probation Period: Ordinarily your period of probation will be Sixmonths from the date of joining. Management may extends the probationperiod depending upon your performance. On successful completion ofprobation, you will be issued a confirmation letter.

During the probation period, your services are liable to be terminated

without assigning any specific reason, whatsoever without giving anynotice. After confirmation the notice period will be one month or onemonths basic salary on either side.

4) Salary Details:

Your Basic Salary will be Rs. ./- p.m.(Rupees only)In addition you will be entitled to House Rent Allowance of Rs./- p.m.(Rupees only)

You will entitled to reimbursement of Local Travelling Expenses upto amaximum limit of Rs. /- p.m. (Rupees. only)You shall also be entitled to benefits like ESI/Medical Reimbursement,LTC, Bonus Exgratia, Gratuity & PF as per rules of the company.


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5)Place of PostingHowever, you would be liable to be transferred/posted at any of theexisting or proposed locations of the company or its sister/associatescompanies at the sole discretion of the management.

6) The company normally does not permit employees to engage in any otherbusiness or work, either directly on their own account or indirectly andyou will be expected not to do so without prior consent of the managementin writing.

7) You will be governed by the rules and regulations of the company asapplicable in force, amended or altered from time to time during thecourse of your employment.

8) You will automatically retire from the services of the Company onattaining the age of 58 years. You may be retired earlier if found medically

unfit.

Please sign the duplicate copy of this letter signifying your acceptance and returnit to us.

We welcome you to our organisation and wish you a successful career with us.

With best wishes,



I agree to accept employment on the terms and conditions mentioned above andagree to abide by all the rules and regulations of the company.

NAME SIGNATURE

DATE


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3) Appointment letter language for sr. manager and above is given in

the following format.

FOR SR. MANAGER AND ABOVE

Dear Mr. . Date

APPOINTMENT LETTER

With reference to the offer letter no.____________________ dated ______________,we are pleased to appoint you in our organisation on the following terms and conditions:-

1) Designation : Your position in the company will be

2) Date of Joining: Your date of joining the services in the organisationis ..

3) Salary Details :Your Basic Salary will be Rs. /- p.m.(Rupees only)In addition you will be entitled to House Rent Allowance of Rs../-p.m.(Rupees only)You will entitled to reimbursement of Local Travelling Expenses upto amaximum limit of Rs. ../- p.m. (Rupees

.. only)

You shall also be entitled to benefits like Exgratia, Gratuity, PF etc. as per rules ofthe company.

You will be entitled to reimbursement of Medical Expenses for yourself andfamily, the total cost of which shall be a maximum of one month's basic salary ina year.

You will be entitled to reimbursement of LTC equivalent to one months basicsalary per completed year of service. Your first entitlement for LTC will be on

completion of 12 months service with the Company.


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4) Place of Posting: . However, you would be liable to betransferred/posted at any of the existing or proposed locations of the company orits sister/associate companies at the sole discretion of the management.

Your services are liable to be terminated without assigning any specific reason,whatsoever by giving you one months basic salary or one months notice. Likewise youwould be free to leave the services of thew company by giving one months notice orbasic salary to the company.

The company normally does not permit employees to engage in any other business orwork, either directly on their own account or indirectly and you will be expected not todo so without prior consent of the company in writing.

You will be governed by the rules and regulations of the company as applicable in force,amended or altered from time to time during the course of your employment.

You will automatically retire from the services of the Company on attaining the age of 58years. You may be retired earlier if found medically unfit.

Please sign the duplicate copy of this letter signifying your acceptance and return it to us.

We welcome you to our organisation and wish you a successful career with us.

With best wishes.



I agree to accept employment on the terms and conditions mentioned above and agree toabide by all the rules and regulations of the company.

NAME SIGNATURE DATE

Joining report to be filled by the new join in format given Reliance Moneyow andexperience certificate, Date of Birth Certificate, Relieving letter, Salary Certificate andEducational Certificate etc. to be submitted to personnel Department.


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Reliance Money

DATE:HRD DEPARTMENTMumbaiJOINING REPORT

This is to inform you that I have joined the organisation as

On in

Department. My present address is

Telephone No.

And my Date of Birth is . Any change in my address will be

intimated to you.

NAME :

SIGNATURE:

DATE:

VI) DOCUMENTATION

1. Individual personal files are maintained.2. Computerised Personal details are maintained.

3. After separation also the personal files are maintained of ex-employees.4. Position wise Data Banks are maintained for future reference.5. The following formats shall be generated as a result of implementation on this

procedure.

5.DEPARTMENT INTERFACE

HRD Department sends a Status Report updating on the recruitment process to theDepartment which has raised the manpower requirement.


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6.STATISTICAL ANNALYSIS

An Annalysis of the manpower requirements is prepared periodically based on thefollowing factor:

Source of recruitment

Resumes received and short-listed

Interviews conducted

Candidates selected

Candidates joined

F.FORMATSThe Formats of the company includes the following:

MANPOWER REQUIREMENT PERSONAL DATA FORM

INTERVIEW ASSESSMENT FORM

JOINING REPORT

STAFF COMPARISION SHEET

SALARY PROPOSAL SHEET

These Formats, when filled up, are available in the individual personal files along withother personal details of the individual, which are confedential in nature.

G.RECORDSThe company includes the following records

Manpower Requirement Forms

Correspondence for release advertisements

Correspondence with consultant


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RESEARCHMETHODOLOGY


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RESEARCH METHODOLOGY

OBJECTIVE OF THE STUDY

In Reliance Money the recrui

Documents

Recuritment Process in Reliance Money