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COMPANY OVERVIEW
IOC (Indian Oil Corporation) was formed in 1964 as the result of merger of Indian Oil
Company Ltd. (Estd. 1959) and Indian Refineries Ltd. (Estd. 1958).
Indian Oil Corporation Ltd. is currently India's largest company by sales with a turnover of
Rs. 2 441 329 600, and profit of Rs. 25 994 000 for fiscal 2009.
Indian Oil Corporation Ltd. is the highest ranked Indian company in the prestigious Fortune
‘Global 500’. It is ranked at 109th position in 2010. It is also the 20th largest petroleum
company in the world.
Indian Oil and its subsidiaries today accounts for 49% petroleum products market share in
India.
Indian Oil group has sold 59.29mn tonnes of Petroleum including 1.74mn tonnes of natural
gas in the domestic market and exported 3.33mn tonnes in the yr 2008-09.
IOCL GROUP
IOCL Group consists of Indian Oil Corporation Ltd. and the following subsidiaries:
VISION OF IOCL
A major diversified, transnational, integrated energy company, with national leadership and
a strong environment conscience, playing a national role in oil security & public distribution.
MISSION OF IOCL
To cultivate high standards of business ethics and Total Quality Management for a
strong corporate identity and brand equity.
To help enrich the quality of life of the community and preserve ecological balance
and heritage through a strong environment conscience.
VALUES OF IOCL
Values exist in all organizations and are an integral part of any it. Indian Oil nurtures a set of
core values:
CARE
INNOVATION
PASSION
TRUST
OBJECTIVES OF INDIAN OIL
IOCL has defined its objectives for succeeding in its mission. These objectives are:
To serve the national interests in oil and related sectors in accordance and consistent
with Government policies.
To enhance the country's self-sufficiency in crude oil refining and build expertise in
laying of crude oil and petroleum product pipelines.
To optimize utilization of refining capacity and maximize distillate yield and gross
refining margin.
To maximize utilization of the existing facilities for improving efficiency and
increasing productivity.
To minimize fuel consumption and hydrocarbon loss in refineries and stock loss in
marketing operations to effect energy conservation.
To avail of all viable opportunities, both national and global, arising out of the
Government of India’s policy of liberalization and reforms.
To inculcate strong ‘core values’ among the employees and continuously update skill
sets for full exploitation of the new business opportunities.
India’s flagship national oil company and downstream petroleum major, Indian Oil
Corporation Ltd. (Indian Oil) is celebrating its Golden Jubilee in 2009. It is India's largest
commercial enterprise, with a sales turnover of Rs. 2, 85,337 core – the highest-ever for an
Indian company – and a net profit of Rs. 2, 950 core for the year 2008-09. Indian Oil is also the
highest ranked Indian company in the prestigious Fortune 'Global 500' listing, having moved up
11 places to the 105th position in 2009.
For the year 2008-09, the Indian Oil group sold 62.6 million tones of petroleum products,
including 1.7 million tones of natural gas, and exported 3.64 million tones of petroleum
products.
The Indian Oil Group of companies owns and operates 10 of India's 20 refineries with a
combined refining capacity of 60.2 million metric tons per annum (MMTPA, .i.e. 1.2 million
barrels per day). These include two refineries of subsidiary Chennai Petroleum Corporation Ltd.
The Corporation's cross-country network of crude oil and product pipelines, spanning
over 10,000 km and the largest in the country, meets the vital energy needs of the consumers in
an efficient, economical and environment-friendly manner.
Indian Oil is investing Rs. 43,400 core (US $10.8 billion) during the period 2007-12 in
augmentation of refining and pipeline capacities, expansion of marketing infrastructure and
product quality up gradation as well as in integration and diversification projects.
CREDIT FACILITY AVAILABLE FROM STATE BANK OF INDIA
CORPORATE OFFICE
CASH FLOW MANAGEMENT
RESORUCE MOBLISATION
MARKETING HO
REFINERS HO CASH FLOW INPUTS
CASH FLOW INPUTS PRODUCT IMPORT PAYMENTS
CRUDE IMPORTS/EXCIES COLLECTION/PAYMENTS
PAYMENT DEPOSIT
WITHDRAWL ACCOUNTS-AT
WITHDRWAL ACCOUNTS LOCATION
REFINERS/UNITS PIPELINES/BD
LOAN LOAN
AVAILEMENTS/REPAYMENTS AVAIEMENTS/REPAYMENTS
EXPORT PROCEEDS
SUMMARY
Banks enjoy the float till funds are not cleared Float of 2 –3 days phased out
Instrument Collection
DCR Generation & Checking
Depositing at Branch
Follow Up
Collections
Charges
PROCEDURE of rtgs
IOCL A/c No. – An 18 digit Code & Unique for each Customer
Remitting bank branch of customer processes the transaction and transmits to RBI which
in turn processes the transaction on real time basis and sends it to Beneficiary Bank
(here SBI)
SBI on Receipt of Incoming RTGS affords credit to IOCL RTGs A/c reading the first 11
digits and simultaneously generates MIS using 12th digit as product code description and
13-18th digit as SAP Code of remitting customer
MIS is sent through E-mail by SBI CMP section which is uploaded in SAP for crediting
customers account under respective CCA
Any Customer banking with State Bank of Patiala, Indore, Hyderabad, Mysore,
Travancore and Bikaner & Jaipur.
Customer avails Corporate Internet Banking Facility with his SBI Associate Bank
Branch
Customer Logs in with Admin ID and Password and Creates Users for making day to
day payments to IOCL
Maps IOCL-RTGS as a Supplier mentioning SAP Code, Supply Location etc which is
approved by HO Banking
After Approval, users can start making E-payments
RTGS FROM ANY BANK TO SBI
Customer banking with any Bank across the country except State Bank of India
Customer is issued 18 digit Bank A/c no. of IOCL maintained at SBI Mumbai
Customer approaches his Banker to effect RTGS or may avail Internet Banking Facility
and execute RTGS from his Desktop PC / Cyber Cafe
Customers having A/c in SBI or any other Bank except BNP Paribas can avail the facility
Willing to Transfer Funds to IOCL A/c in BNP Paribas vide RTGS / NEFT
Customer is provided details of 18 digit Bank A/c No. of BNP Paribas including IFSC Code
Customer approaches his Banker to affect RTGS or may avail Internet Banking Facility
and execute RTGS from his Desktop PC / Cyber Café.
TRANSFER OF FUNDS
After the transfer of funds thru various modes, such as RTGS/NEFT, Core
banking, Internet banking, the funds are credited in the designated Account
opened in SBI/BNP Paribas Banks.
On the basis of funds received, SBI/BNP Paribas generates MIS as per the format
designed by IOC and the data is stored in the bank’s server. From bank’s server,
it is directly transferred to IOC’s SAP server for posting in customer’s a/c.
FACILITES AVAILABLE TO CUSTOMERS
CUSTOMER’S
OPTIONS CHARGES TIMINGS
BANK
0.1 % of Transaction
During Bank Hours
Core Banking Amount
only
[Max : Rs. 1250]
State Bank of
Max. Rs. 25 per
India
RTGS transfer in Transaction for transfers
9am – 4.30 pm [Mon-
IOCL 18 digit A/c Rs.1-5 lakh
Fri]
no with BNP Max. Rs. 50 per
Paribas 9am – 1.30 pm [Sat]
Transaction for transfers
above Rs.5 lakh
State Bank of Online RTGS Max. Rs. 25 per 9am – 4.30 pm [Mon-
Transaction for transfers Fri]
9am – 1.30 pm [Sat]
Rs.1-5 lakh
India Associates
RTGS in 18 digit Max. Rs. 50 per 9am – 4.30 pm [Mon-