From the Contribution Lab being held at SBLC, Indore
Name of the participant and present branch / office : Rita Shukla, CM (Admin.), RBO,
Name of the branch where project was undertaken: Mayur Market, Gwalior.
Brief description of the project :
Takeover of bulk housing loan of employees of Cadbury Ltd. and SRF Ltd. from ICICI and HDFC. We have contacted the Cos. to get their salary accounts and after 4-5 meetings we came to know that employees are interested to shift their housing loans to us but with some concessions. We started to talking to their employer, HR officials and noted theitr points and with the help of our RM we successful in getting sanction of some concessions from our GM.
Now we started to plan for first opening of their salary accounts and received list of interested customers and received 300 names out of which 50% were not eligible as their houses are built in illegal colonies. When we started taking their applications we have received a fax that your branch has been delinked from RACPC. I was shocked because doing complete sanction and all within a limited time of 2 months was a tough task but my team encouraged me and we have planned for allocation of duties like field visit, receiving and completion of application, search report and valuation formalities dream home preparation and execution of documents amongst all of us and started the work, we all worked from 10.00 a.m. to 10.00 p.m. daily and could complete this hand work with the support of my team.
Why the need for the project arose :
Mainly for growth in P segment, then also cross selling business (salary accounts + personal loans + housing loans + SBI Life + Mutual Fund).
How it was implemented & results:
1. Did it involve many people from the unit? What kind of teaming / team work took place?
Ø Yes, all branch staff.
Ø Team work started from convincing these customers for takeover, opening of their salary accounts, filling up their applications of housing loans, sanctioning, printing of dream homes, execution of documents, field verification & disbursement (As RACPC delink our branch).
2. How did it energize the people in the unit?
It was accepted as a challenge by staff, as I expressed my concern of minimal growth in P Seg. Advances and that can be attained if we all want to do something, thus the full team was enthusiastic.
3. What kind of fulfillment did it result in for the collective involved (team members & customers)?
Regarding customers, they were happy as initially they were thinking this task very difficult, just impossible.
My team members were feeling fulfilled.
4. How did it enhance the interaction with the customer community?
The customers of Cadbury and SRF Ltd. now became friendly with the staff of the branch and afterwards they became the companies like Surya Bulb, Godrej etc. also stated coming to the branch.
5. What were the sustainable results of this Contribution Project in the unit?
1. P Advanced target achieved.
2. As we opened their salary accounts first, so Express Credit loans figure increased like anything.
3. Cross Selling – SBE, MF and SBI Life, we have surpassed the targets.