A

REPORT

ON

3 C Report on Fullerton India Credit Ltd.

Submitted To

Mr. Ashutosh Kherde

Faculty Guide

Submitted ByMr. Anup Bajaj

(6ND20458)

INDEX

Sr. No. Particulars

1. Overview

2. Company Profile

3. Customer

4. Competitors

5. SWOT

OVERVIEWFullerton India provides a complete range of financial products and solutions, customized to the requirements of mass market and low income population

segments. This company follow a customer centric, community based business model.

Fullerton India is a subsidiary of Fullerton Financial Holdings Pvt. Ltd., a wholly owned subsidiary of the US $80 Billion Temasek Holdings Singapore.

Our operations commenced in January 2006, with a network of branches across the country to source and service our customers.

TEMASEK HOLDINGSMission To create and maximize long-term shareholder value as an active investor and shareholder of successful enterprises.

Corporate ProfileTemasek Holdings is an Asia investment house headquartered in Singapore.With a multinational staff of more than 300 people, we manage a portfolio of over S$160 billion, or more than US$100 billion, focused primarily in Asia. We are committed to fostering a sustainable future for our shareholder, staff, portfolio companies and the community. We are an active shareholder and investor in diverse industry sectors such as banking & financial services, real estate, transportation & logistics, infrastructure, telecommunications & media, bioscience & healthcare, education, consumer & lifestyle, engineering & technology, as well as energy & resources.Our total shareholder return since our inception is more than 18% compounded annually. We have a corporate credit rating of AAA/Aaa by Standard & Poor’s and Moody’s respectively.

COMPANY PROFILE

What We Are

Fullerton India Credit Company Limited, a fully owned subsidiary of Fullerton Financial Holdings, Singapore, is the fastest growing financial services company in India with an equity capital base of US$ 150 Mn (Rs. 7.00 bn). The company follows a relationship led, community based business model with close proximity & engagement with the customer to effectively reach out to them. In a short span of time the company has disbursed Rs over 1800 Crores, opened more than 700 branches spread across 150 locations and has more than 8000 employees on its rolls.

Human Capital Leave Policy

Leave for Probationary Employees

1. An employee during probation period is not entitled for leave unless under exceptional circumstances.

2. In case the leave during probation period exceeds 2 weeks, the probation period may be extended by at least a period equivalent to the leave taken.

3. The leave taken during probation will be adjusted with the leaves credited to an employee on confirmation.

Leave for Confirmed Employees

4. The employee is eligible for leave only if s/he is confirmed.

5. Employees are eligible to leave of absence for vacation, sickness, maternity & personal needs apart from public holidays.

6. All leave credit / leave availed is on a working days basis.

7. On confirmation,

a. 2 leaves for every month of the probation period i.e. 12 days will be credited on confirmation.The leaves taken during probation will be adjusted against the credit of 12 leaves

b. 2 leaves for every month post confirmation till December of the same calendar year will be credited..

8. All SM’s & above who join as confirmed employees, will have 2 leaves for every month post joining till December as their leave credit.

9. Any confirmed employee on board as on 1st of January of each year will be entitled to an advance leave credit of 24 working days for that calendar year of service.

10.Leave of a planned nature excluding holidays requires prior approval of his/her immediate supervisor.

11.Based on business exigencies, supervisor may refuse a specific leave request while ensuring an alternate leave schedule / request is reviewed on priority.

12.It is the supervisor’s responsibility to keep track and record of the attendance and leave of employees working with them. It is the employees responsibility to ensure that they formally seek approval for each leave proposed to be availed.

13.Leave in excess of available credit and any unapproved leaves will result in Loss of Pay.

14.Leave balances at end of each calendar year lapse and do not carry-forward.

15.There is no facility for encashment of unutilized leave.

16.Leave exceeding 7 working days will need the prior approval of the Supervisor & Regional HC coordinator.

Maternity Leave

Eligibility:

No woman shall be entitled to maternity benefit unless she has actually worked in an establishment of the employer from whom she claims maternity benefit, for a period of not less than (eighty days) in the twelve months immediately preceding the date of her expected delivery.

To be eligible for Maternity Leave, an employee should apply for leave at least 90 days ahead along with Doctor’s certificate indicating expected date of delivery. Human Capital shall issue a letter through the supervisor indicating duration of leave. Based on actual delivery date, updated leave period will be documented.

Female employees will be entitled to maternity leave as per the provisions of the Maternity Benefit Act, which currently provides maximum of 12 weeks (84 days inclusive of holidays and weekends) of leave which may be availed pre and post natal, subject to a maximum of 6 weeks pre natal and minimum of 6 weeks post natal

Fullerton India Credit Company Limited

HUMAN CAPITAL POLICY: RELATED EMPLOYEE POLICY

OVERVIEW

To ensure that all employees are provided framework that states the company’s position on specific situations

(which could be deemed as conflict of interest) that involve dealing / interactions with other individuals to

which the employees are directly related.

APPLICABILITY

This is applicable to all the employees in the company.

RELATED EMPLOYEES POLICY

The policy states that related staff members may not be assigned to positions where one relative might have

the opportunity to check, process, review, audit or otherwise affect the work of another relative.

They may not be assigned to positions where one relative might influence the salary progress of another.

Relative is defined as :

• Spouse

• Children

• Parents

• Sibling

• In - Laws

It is Mandatory for all candidates to declare in the Application Form about any relatives employed with the company. Employees must self-declare any relationship that arise subsequent to employment

This is applicable for employment: Permanent, Temporary, Contract categories or deployment of personnel through service providers

If eventually an employee becomes related to anyone working in the Company by virtue of change in their marital status or if any of their relatives joins the Company, they will be required to inform the respective regional Human Capital contact and their immediate Supervisor.

Should a conflict of interest situation arise, the company will, on a best effort basis try to reassign one of the employees to an alternate non-conflicting role.

In the event this is not practical, or a suitable role a not available, one of the related employees will be required to discontinue services with the company. No compensation will be payable to the employee in such cases

Introduction to Fraud Control Unit(FCU)

Fraud Control unit has been formed with the sole objective of minimizing fraud losses at the branch. This team would look at cases at Log in stage ,Pre disbursement & Post Disbursement stage

Log in stage: FCU would assist branch team in identifying loan applications where in documents and/or information has been manipulated. FCU team would go through 100% of the logged in files at branch & on sample basis would pickup cases for field verification

Pre Disbursement stage: In cases where few documents are collected post approval then FCU would again go through those documents & on sample basis would pickup these for verification

Post Disbursement Stage: Cases are picked up based on sample (File Review reports, FCU QC ,Bounced MIS,top5 RO, Top 5 branches, failed SMS , Failed welcome calls etc) & are sent for field verification of documents and/or discreet customer profile check

Daily FCU activities at Branch

Screening: 100% of the files which have been sourced needs to be shown to FCU sampler along with completely filled application form, ID proof, Add Proof & Income proof (if required. Please note these are the minimum documents & if any other document is available in the file ,same too needs to be shown to FCU sampler. As a proof of screening one distinct stamp would be put on all the documents available in the file along with file cover. Screening of a document means FCU sampler didn’t find any apparent trigger on the document & doesn’t mean that document is genuine .Any document which has been collected after FCU screening must be shown to FCU sampler

Sampling: On sample basis (Trigger/Random) few documents would be picked up for verification from the source of document. For e.g.. Salary slip/SC would be verified from employer, ITR from IT office etc. For all sampled cases FCU agency would submit a report

De dupe: CO / Docs Officer should mail all the requests for De-dupe and for the same, there will be three windows in a day for sending the data (as per the prescribed format) i.e. (1) 10.0 AM (2) 3.00 PM & (3) 6. PM.

Mandatory: All documents are mandatory pick-ups in secured loans. There could be location specific mandatory document depending on the trends in the particular location. For e.g. ITR is mandatory in Gujarat.

Other FCU Activities & TAT

Vendor/Outsource staff Check : All vendor & outsource staff which is appointed at branch needs to be checked through FCU. Details are to be sent in the format on mail to FCU vendor with cc to FC officer for verification

Sampler Timing: FCU Sampler would visit at a fixed time once a day .based on convenience of branch provided that time slot is available. In case of multiple branches in the city available time slot would fixed for new branches. Please get in touch with local FCU officer for fixing the time

TAT

- For sampled cases TAT is 1 working day, excluding holidays, Saturday

- Reports for 10 AM window will be provided at 3.30 PM, 3.00 PM window will be provided by 6.00 PM & reports for 6.00 PM window will be provided by next day morning, 10.00 AM.

- For Vendor /Outsource staff check TAT is 5 working days

MIS

FCU submit daily tracker for all verified cases through mail. This mail is marked to Unit Head, Credit Officer & BPO

There are two attachments sent by agency. One is the excel sheet which has case details & 2nd is the word document

Which has single page FCU report for verified case. This word document is to be attached in the file

Acknowledgement sheet is also submitted by sampler which indicates that mail has been received by branch

Any case where in FCU report has not come within tat 0+1 day ,should be escalated to concerned FCU officer

Excel report has two sheets ,one if for case wise details & 2nd sheet indicates MTD FCU sampling, CRS, mandatory

Verification & fraud hit rate.

FCU Status & Approval Authority

Positive: This means that the document which has been picked up for verification

is found positive & case can be possessed by branch subject to all other policy

norms met

Negative: These are documents where in though document is not fraud but some

adverse information has been received during verification

Fraud-FD/FP/TC: These documents have been verified & are found to be fraud. i.e.

details are not matching with records maintained by issuing office. In some cases

documents may be genuine but person is a industry defaulter or had submitted

forged documents to another institution. In another category of Fraud(TC) document

may be verbally confirmed/not confirmed by issuing office but if technically

document is showing wrong calculations then too it is termed as fraud. such cases

should be declined & can be approved only by RFCU Head

Failed: This means that FCU couldn’t verify the document from issuing office. In

such cases Credit Officer can take decision after satisfying himself/herself that

document is genuine

Referred to Credit: This status indicates that some additional information is

received or document is having some triggers but couldn’t be verified. In such cases

credit officer should ensure that concerns raised in FCU report are addressed

Escalations

Any case, decision may be taken up by branch if they are not satisfied with the status sent by FCU vendor as per below mentioned Escalation matrix:

1st Level: Mail should be marked to FCU officer .Normally he would revert within 2 working days but if it is urgent please call him

2nd Level: If TAT is exceeded and/or BUM is not satisfied with decision this can be escalated to Regional Manager of FCU.TAT is 2 working days, in case of urgency please feel free to call

3rd Level: If TAT is exceeded and/or BUM is not satisfied with decision this can be escalated to National Field Risk Manager .TAT is 2 working days, in case of urgency please feel free to call

4th Level: If TAT is exceeded and/or BUM is not satisfied with decision this can be escalated to RFCU Head. TAT is 2 working days, in case of urgency please feel free to call

Some actionable at branch

All cases which have been sourced must be logged In at the branch

All cases logged in at the branch must be shown to FCU sampler even cases which have been declined should be shown to FCU sampler

Any document which has been added in the file after FCU screening should be shown to FCU sampler

No document should be removed from the file after FCU screening

FCU sampler must visit branch on daily basis

Daily reports to reach Branch through email & acknowledgement copy to be signed by CO/Docs officer & returned to FCU sampler

File screening/sampling register to be maintained by FCU sampler to capture details of all cases seen by him

Mails should not be marked directly to the vendor without keeping in the loop, the concerned FCU Manager.

ACTIVITY PLAN

EACH RELATIONSHIP OFFICER TO SCREEN THEIR RESPECTIVE ZONES – UNDER THE GUIDANCE OF RM/B U MANAGER

BASIS TEXTURE OF THE ZONE – ALL ZONES OF THE BRANCH WILL BE COVERED UNDER BLITZ ZONNING ACTIVITY – WHEREIN ALL BRANCH STAFF WILL GO TO SINGLE ZONE (ONE BY ONE) USE FLIP CHART & EXPLAIN THE ADVANTAGES OF CMM, SAMBANDH ETC.. FOR RO TO CARRY FORWARD THE LEGACY

DEPENDING UPON THE SUITABILITY OF VYAPAAR SAMAROH OR MORTGAGE SAMAROH – ONE OF THE TWO ACTIVITIES WILL BE PLANNED END TO END – WITH TARGETS & ACHIEVEMENT IN EXCESS OF PLAN – PREFERABLY IN THE FIRST WEEK OF MONTH

Full Eligibility & how do we do this

REJECTION RATE ANALYSIS

WEAKER RO ADDRESSAL ON A DAILY BASIS.. THRU PEER LEVEL FEEDBACK & SUPPORT

VIJAY PATH TRAINING SCHEDULE – ALTERNATE SATURDAY

LEARNING SHARING & TRAINING SCHEDULES – ALL SATURDAYS SECOND HALF

Sampoorna Suraksha – For loans less than and equal to 25k

All customers aged between 20 to 40 years will be covered for a sum assured of Rs. 25,000 for a price of Rs. 1050

All customers aged between 41 to 45 years will be covered for a sum assured of Rs. 25,000 for all benefits, except Critical Illness cover which will be limited to Rs. 10,000 for a price of Rs. 1050

All customers aged between 46 to 50 years will be covered for a sum assured of Rs. 25,000 for all benefits, except Critical Illness cover which will be limited to Rs. 10,000 for a price of Rs. 1250

ELIGIBILITY CRITERIA – GENERAL INSURANCE

All loan customers between the age of 20 -50 years will be covered under the pack

The maximum amount of coverage offered under the scheme is Rs. 1,50,000

The minimum tenure of coverage will be 24 months. All customers availing of a loan with a tenure of less than 24 months will be covered for a 24 month period and a maximum of 36 months. In case of customers opting for a tenure of greater than 36 months, then the coverage will be provided for 36 months

The policy expires on occurrence of any of the following

Payment of personal accident or Disability and critical illness claims.

Customer attaining the age of 55 years.

In case of fraud, misrepresentation etc.

STANDALONE LIFE COVERAGE

A standalone life insurance coverage from Bajaj Allianz Life Insurance Company can be offered to all customers who not keen on the Sampoorna Suraksha offer

A flat fee based on the loan ticket size will need to be collected from each customer, in addition to the base premium. The fee structure will be dependent on the loan size and is as given below:

Loan ticket              Fee charged Fee charged (inclusive of service tax)

> 1 lac Rs 500/- Rs. 562

1 lac – 2 lacs Rs 750/- Rs. 843

PROCESS FLOW

At the time of personal discussion with the customer pitch the Sampoorna Suraksha proposition

The sum assured for each customer will be equivalent to the pack amount, irrespective of the loan amount opted for

- Loan ticket >=25,000 : Pack of Rs. 1050 / 1250 (Age dependent)

- Loan ticket b/n 25,001 and 50,000 : Pack of Rs. 1749 / 2250 (Age dependent)

- Loan ticket b/n 50,001 and 100,000 : Pack of Rs. 3250 / 3750 (Age dependent)

- Loan ticket b/n 100,001 and 150,000 : Pack of Rs. 4750 / 5250 (Age dependent)

Case 1: In case a customer aged 35 years applies for a loan amount of Rs. 100,000, he will be eligible for a pack of Rs. 3250. However, though his total loan amount will be Rs, 103,250 the sum assured will remain at Rs. 100,000

Case 2: In case a customer aged 35 years applies for a loan amount of Rs.75,000, he will be eligible for a pack of Rs.3250. However, though his loan amount will be Rs, 78,250, the sum assured will remain at Rs.100, 000

Upgrade to the higher pack is permissible. Downgrade to the lower pack is not possible

Based on the pack offered to the customer, the credit officer to check with the customer if he needs an increase in loan amount equivalent to the value of the pack. If the customer opts for any of the packs then he is eligible for an automatic increase in the loan amount, equivalent to the pack opted for

If the customer wants to buy the pack off the shelf and not include it in the loan amount, then the premium amount can be deducted from the sanctioned loan amount

Specify that the customer has opted for general insurance or life insurance, as the case may be on the Credit Appraisal Memo

Mention the general insurance premium amount / the life insurance premium and service charges separately in CAM based on the rate card / calculator given

Fill up the application form of ICICI Lombard or Bajaj Allianz Life Insurance Company along with the loan form, depending on the product opted for by the customer

Collection of following additional documents while sourcing loan for customer opting for the cover

Signed Application form

ICICI Lombard form in case of Sampoorna Suraksha

Only Bajaj Allianz form in case of BALIC

Declaration form from the customer, mentioning that he is opting for the scheme on a voluntary basis, only in case of Sampoorna Suraksha

Collected documents would form a part of the loan file of the customer and will need to be scanned as per the normal process

Scan the 2 documents (listed above) to Operations along with the loan booking documents.

Instruct operations to:

Offer the additional loan amount inclusive of the pack charge, in case the customer has opted for the enhanced loan amount

Issue a welcome letter to the customer for both the life or the general insurance coverage, clearly mentioning the premium charges as well as the additional service charges

Handover the terms and conditions sheet along with the welcome letter of Sampoorna Suraksha

In case the customer opts for BALIC, only handover the BALIC welcome letter

In case of a co-applicant / private limited / partnership / public limited company the key applicant will be covered

In case of top-ups the original cover will continue and a fresh / incremental cover can be sold on the new loan

In case of foreclosure of the loan, the surrender value premium amount will be refunded to the customer. The service charge will not be refunded’

In case of NPAs, the coverage will continue till the end of the original tenure

In case of general insurance claims the nominee / relative can get in touch directly with ICICI Lombard through their toll free call centre (1800-222-555) or through the Fullerton India branches. In case of Life Insurance claims the customer has to route all claims through the Fullerton India branches.

Receive intimation about occurrence of any of incidents (Critical Illness, Accident, Permanent Total Disability or Death) from nominee or any relative of the customer. Get the claim intimation letter filled by nominee and collect the necessary documents

Accidental Death - Claim form ; Doctor’s report / Hospital report ; Death Certificate ; Police report; Post mortem report ; Bank Loan statement

Accidental PTD (Additional docs) - Doctor’s disability report; Investigation report ; Laboratory test; X-rays and reports essential for confirmation of injury ; Police report ; Loan statement

Critical Illness - Doctor’s certificate; Loan statement; Relevant medical reports

Loss of job - Claim form; Confirmation from the company on the EMI schedule; Employer’s certificate confirming dismissal / termination; Any other relevant document

Life Insurance Cover - DOB Proof: In case of claims upto, Rs.50,000 it is not necessary to submit a age proof. In case of claims above Rs.50,000, arrange for the DOB certificate which has been collected at the time of enrollment has to be submitted ; Claimants statement ; Death certificate from the Registrar of Births and Deaths ; FIR copy in case of accidental deaths

DO’s

Clearly articulate the features and all the terms and conditions of the product to the customer, not suppressing any critical information

Encourage the customers to declare all critical information about his / her personal health, family health, illnesses to avoid repudiation at the claim stage

Fill up the application form post a personal visit to the customer and take the customer signature on the form as well as on the declaration

Clearly communicate to the customer that this is a group insurance policy and the insurance is underwritten by ICICI Lombard General Insurance and Bajaj Allianz Life Insurance as the case may be

Share the benefits of the proposition and inform the customer that he can avail the loan without the insurance proposition as well.

The customer shall have the liberty to choose and subscribe to the insurance policy

Take the signature of the customer on the application form and the declaration sheet as well.

Hand over the welcome letter along with a copy of the Terms and Conditions sheet

DON’ts

Do not offer the Sampoorna Suraksha cover to any customer below 20 years of age and above 50 years of age

Do not sublet / source business through third parties

Do not encourage rebating of premiums from the customer

The sanction and eligibility of the loan should not be linked to subscription of Insurance by the Borrower.

We should not extend Loan to a customer on the condition that the customer subscribes to the insurance.

We should not fix or vary the cost /rate of any of the loan items, on the condition or requirement that the customer subscribes to insurance.

Do not make any ambiguous statement to mislead the customer

What we Offer

Fullerton India - Parivaar and Vyapaar

We offer a range of financial products and solutions, tailor-made for the Salaried Individuals (Retail Mass Market) and the Small sized Shop-owners & Entrepreneurs (Commercial Mass Market). We are present through our own, specialized network of branches, separately for these two business segments. Our branches are always only a short distance away from our customers workplace or home. We service our customers only through our own employees. Each of our customers are assigned a dedicated Relationship Officer who acts as the primary contact point for all the financial requirements of our customers.

Parivaar

This business vertical is dedicated to address the unique requirements of the Salaried Individuals. A national network of Parivaar branches, caters to this segment exclusively.

Fullerton India Parivaar has introduced a new concept in the Indian market. Here we have branches, which cater only to the specific needs of Salaried Individuals. Our Parivaar branches provide customized products and solutions, especially designed keeping in mind the unique circumstances and requirements of this segment.

Our Parivaar Loans cover a wise range of products, which include:

Unsecured Personal Loans

Secured Loans

Home Finance

Home Equity Loans

We also provide Life Insurance. Our Mutual Funds products, are to be launched soon.

Some of the key advantages of entering into a relationship with us are: Our biggest proposition is our customer focus, both, in product design/

customization and service. As an organization, we are structured not around products but along customer segments. We have separate verticals for the Salaried Individuals (Parivaar) and for Small sized shop owners & Entrepreneurs (Vyapaar).

This model lends itself to better understanding of our customers' financial situation and for a better products offering to them. With this holistic understanding of our customers, we are also able to combine secured and

unsecured products and structure the loan in a manner which is ideally suited to meet individual customer requirements.

For the first time in India, our own, company employed Relationship Officers service the needs of the customers. There are no agents or other intermediataries, coming in between the customer and us. These Relationship Officers are the end-to-end solution providers and act as a �single point of contact" for all Product, Process and Service related needs of the customer.

Our branches do business only within a 5 km radius. Our customers' office or residence has to be within the branch coverage area. This closer proximity of our customers to our branches, ensures better understanding of their local environment and immediate situation.

We participate actively in serving the community in and around the vicinity of our branch. Our interest in the locality extends beyond just a business relationship. We believe in participating in other aspects of development of the community as well.

In a nutshell, the key values which we bring to the table are:

Simplicity - Easy to understand, simple processes and standard documentation Speed - Average turnaround time in loan processing is just two days Neighborhood financing - Branches are located not more than 5 km away from our customers One Stop Shop - For all financial requirements

VyapaarThis business vertical is dedicated to meet the unique requirements of Small sized Shop-owners & Entrepreneurs. A national network of Vyapaar branches caters to this segment exclusively.India has a large self-employed population running small and basic businesses. When these businesses need financial support to grow and realize their full potential, the limited access to organized finance becomes a big retardant in their growth. For a country with India's depth, the next level of growth will come only if basic businesses (the mass market) graduate to the next level of empowerment and self-sufficiency.

Fullerton India Vyapaar strives to improve the business and lives of the small business community. Our business is focused only on small establishments with a turnover of less than Rs.25 Mn per annum.

The key elements are as follows:

The business envisages setting up branches with employees dealing directly with the customers. This offering has elicited an enthusiastic

response from our customers as it gives higher degree of transparency and faster value delivery.

The relationship model includes a deep assessment of a customers' business resulting in an omnibus facility with a flexible combination of usage in parts, flexibility between a combination of short and long tenures, and from unsecured to partially secured and fully secured facilities. The facility set up for a customer is based on his risk profile, repayment capacity, as well as proposed expansion plan. A Relationship Officer is assigned to address incremental product needs, as well as for service requirements, through a process of continuous engagement. The business strives to deliver lifelong financing support and regular facility enhancement, based on business growth.

We understand that smaller customers do not create a distinction between personal borrowing and business borrowing; the facility is designed to cover both needs.

Businesses are built on people, and the company hires relevant local talent to serve the market, so that there is a connect between the employees and customers.

The business wishes to bring a full service proposition encompassing loans and liabilities to the small business owners. Besides the variety of loans, life insurance has been introduced which will also be delivered through the branch based Relationship Officers.

The business uses advanced technology tools to record customer history, and leverage track record to enhance credit exposure in line with the customer business cycle. This ensures continuous support through seasonal peaks.

Value to customer

Simplicity - Easy to understand, simple process and standard documentation. Speed - Average turnaround time in loan processing is two days Neighborhood financing - Branches are located in the centre of business hubs convenient from an access and timing perspective One Stop Shop - For all business and personal financial needs

CUSTOMERS

Self Employed People (Businessman) Salaried People (Servicemen)

Self Employed People (Businessman)These people are those who are having their own business like General Stores, Medical Shop, Ladies Tailor, Retailers, Hardware Shops, etc.

Salaried People (Servicemen)

These people are those who are salaried i.e. doing jobs or service in any stream or any professional like lawyer, C.A., Doctor, Engineer, or any Govt. Servant.

COMPITITORS

1. Citi-Finance2. Barklay3. AXIS Bank4. HDFC Bank5. ICICI Bank

1. CITI -FINANCESince 1912, CitiFinancial® has been helping people realize their financial goals and dreams. We are in each province and in the Yukon Territory with more than 300 branches across Canada. We are part of the communites in which we serve. Our branches are staffed with friendly, knowledgeable people who live and work right in your neighborhood. They understand your needs and can tailor a loan solution for just about every situation. Read on for more details about our company’s history.

A Pioneering Beginning We started in the U.S. when Alexander Duncan founded Commercial Credit in 1912. Our company was a pioneer in the consumer finance industry. In 1916, we offered an installment loan program to help people purchase what was then an exciting new invention - the automobile. That led to the development of installment buying plans for home appliances and other consumer goods.

Growing with America In the next decades, we acquired a major credit insurer and a casualty insurance company. In 1944, we organized an insurance unit that later became American Health & Life Insurance Company. In 1968, Commercial Credit became a wholly owned subsidiary of Control Data Corporation.

Going Public Wall Street legend Sanford I. Weill assumed control of the operations of Commercial Credit in 1986 and took the company public. Within two years, the company acquired Primerica Corporation, the parent company of several investment, financial services and insurance firms, including the well-known Smith Barney.

Joining the Travelers GroupIn 1992, Primerica purchased 27% of Travelers Insurance, a company with one of the most recognizable logos in the U.S. - the red umbrella. Less than a year later, Primerica purchased the remaining 73% of Travelers, which later adopted the name Travelers Group. In subsequent years, Travelers Group acquired Shearson-Lehman's retail brokerage, Aetna's property and casualty business, Security Pacific Financial Services, and Salomon Brothers, creating the nation's third largest investment house - Salomon Smith Barney.

The Creation of Citigroup In 1998, Travelers Group merged with banking powerhouse Citicorp to create Citigroup, a global financial services company serving 20 million customers worldwide. Citigroup's businesses include asset management, banking, credit and charge cards, insurance, investments, investment banking and trading.

An International Company with A New Name In 1999, Citigroup purchased 128 offices of Texas-based Associates First Capital, giving us more than 1,400 offices in 45 states. We then turned our focus to Canada, buying Associates First Capital offices there. In September of that year, we changed our name to CitiFinancial to proudly recognize our affiliation with our parent company and to better reflect what we do today. In November 2000, we continued our growth with the acquisition of The Associates.As part of Citigroup, we continue to provide you with a full range of exceptional products and services to help you find a financial solution that's right for you. Citigroup is the world's most global financial services company whose other subsidiaries include: Citibank, Travelers Life & Annuity, Smith Barney and Primerica.

2. BARKCLAYSWith a rich history dating back almost 300 years, Barclays plc has grown into one of the largest financial services groups in the United Kingdom. The company is involved in banking, investment banking, and investment management and operates 2,000 domestic branches and nearly 850 international branches in over 60 countries across the globe. Barclays is organized into seven business units: Barclays Africa; Barclaycard; Barclays Capital; Barclays Global Investors; Barclays Private Clients; and UK Banking. The company has over 4.5 million registered online bankers and over 10.6 million Barclaycard customers in the

United Kingdom. In 2003, Barclays was the world's ninth-largest bank based on market capitalization.

Early HistoryBarclays takes it symbol, the spread eagle, from the Quaker goldsmithing and banking firm founded by John Freame in 1728. In 1736, James Barclay, Freame's brother-in-law, became a partner in the Black Spread Eagle. When two more of Barclay's relatives joined the firm—Silvanus Bevan in 1767 and John Henton Tritton in 1782—the banking firm took the name by which it would be known for more than a century: Barclays, Bevan & Tritton. While fledgling joint-stock banks outside London struggled to establish themselves in the late 18th and early 19th centuries, Barclays, Bevan & Tritton was still occupied with the well-established and highly lucrative commercial life of London.

A series of legislative changes enacted in the late 19th century created a new banking climate that threatened the existence of private banks such as Barclays. First, the Bank Charter Act of 1826 allowed banks with more than six partners to be formed only outside London. In 1833, the geographical restriction was removed. Stockholders of new joint-stock companies were granted limited liability for the first time in 1854. Finally, in 1879, existing joint-stock associations were allowed to convert to a limited-liability structure.

Mergers in Late 19th and Early 20th CenturiesAs a result of these legislative changes, provincial limited-liability joint-stock companies started picking off private banks. After lengthy negotiations, three of the largest Quaker-run banking firms—Barclays (which had become Barclays, Tritton, Ransom, Bouverie & Company after a merger in 1888), Jonathan Backhouse & Company, and Gurneys, Birkbeck, Barclay & Buxton, along with 17 smaller Quaker-run banks, agreed to merge and form a bank large enough to resist takeover attempts. Barclays took its modern form in 1896 when the 20 private banks merged to form Barclay and Company, Ltd., a joint-stock association with deposits totaling an impressive £26 million. This marked the beginning of Barclays' tradition of service to farmers and fishermen.

Francis Augustus Bevan, grandson of Silvanus Bevan, served as the new bank's first chairman for 20 years. The company's structure and course, however, were directed for its initial 40 years by Frederick Crauford Goodenough, as first secretary, until 1917, and then as chairman after Bevan's retirement until his own death in 1934. Goodenough was the only chairman recruited from outside

the original founding families until 1987. Recruited from the Union Bank of London, Goodenough remained aloof from family controversies and quickly proved his merit.

Goodenough's first task was to meld the constituent banks into a single enterprise. He took a decentralized approach that was to be Barclays' hallmark for most of the 20th century. Each member bank was independently operated under the control of its own board of directors. Senior partners of the constituent banks were given a seat on the Barclays board. In this way, longstanding relationships between each member bank and its customers were maintained, and the new company took advantage of the knowledge and experience of its leaders.

At the same time, Goodenough initiated a series of mergers which eventually made Barclays one of the largest banks in Great Britain. In its first 20 years, Barclays acquired 17 private banks throughout England, including Woods and Company of Newcastle upon Tyne in 1897, Bolitho Bank in Cornwall, and United County Banks, its first joint-stock bank acquisition, in 1916. The bank's merger with the London, Provincial and South Western Bank in 1918 made it one of the Big Five British banks. During this period, Barclays merged with 45 British banks and its deposit base grew to £328 million.

This era of banking amalgamations came to an end in 1919, when the Colwyn Committee recommended, and banking authorities unofficially adopted, limitations on previously unregulated bank mergers. The committee suggested that thenceforth the Bank of England and the treasury approve only those mergers that provided important new facilities to customers or secured significant territorial gains for larger banks. Mergers were no longer approved if they resulted in a significant overlap in the areas served by constituent banks without countervailing benefits to customers or if they would result in "undue prominence" for a larger bank. After the Colwyn Committee report, mergers were increasingly difficult to justify, and the consensus was that mergers among the Big Five would not be approved.

3. AXIS BankAxis Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India

(LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The Bank today is capitalized to the extent of Rs. 357.71 crore with the public holding (other than promoters) at 57.49%.The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. Presently, the Bank has a very wide network of more than 671 branch offices and Extension Counters. The Bank has a network of over 2764 ATMs providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country.The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.

MISSION AND VISION

Our Mission Customer Service and Product Innovation tuned to diverse needs of individual

and corporate clientele. Continuous technology upgradation while maintaining human values. Progressive globalization and achieving international standards. Efficiency and effectiveness built on ethical practices.

Core Values Customer Satisfaction through

o Providing quality service effectively and efficiently

o "Smile, it enhances your face value" is a service quality stressed on

o Periodic Customer Service Audits

Maximization of Stakeholder value Success through Teamwork, Integrity and People

4. HDFC BankThe Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

MissionOur mission is to be “a World Class Indian Bank”, benchmarking ourselves against international standards and best practices in terms of product offerings, technology, service levels, risk management and audit & compliance.

5. ICICI BankICICI Bank is India's second-largest bank with total assets of Rs. 3,767.00 billion (US$ 96 billion) at December 31, 2007 and profit after tax of Rs. 30.08 billion for the nine months ended December 31, 2007. ICICI Bank is second amongst all the companies listed on the Indian stock exchanges in terms of free float market capitalisation*. The Bank has a network of about 955 branches and 3,687 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in Unites States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium. ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

HistoryICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its business from a development financial institution offering

only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE.

After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry, and the move towards universal banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI with ICICI Bank would be the optimal strategic alternative for both entities, and would create the optimal legal structure for the ICICI group's universal banking strategy. The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services.

The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI's strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. Consequent to the merger, the ICICI group's financing and banking operations, both wholesale and retail, have been integrated in a single entity.

SWOT OF FULLERTON INDIA

Strength Multi – Branches all over India with Multi – Relationship Officers.

Weakness Borrowing rates from RBI is high i.e. 12%.

Opportunities Converting into Bank through joint venture by 2011.

ThreatsCiti-Finance, Barclay’s, and other competitors.