Vol 6: Jun 2009

Cover story
They have done it!
Read more on page 4...
Abhishek

Vikas

KK

Jaideep

Sai Krishna

inside this issue

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Letter from the MD Message from the EM CEO’s Desk Gift a Smile Your voice News round up We make it simple Your corner

Vol 6: Jun 2009

Letter from the MD

Dear Colleagues, I am glad that we could meet over the mini-town halls that were organised to introduce Mark and to share our priorities for the rest of 2009. Both Mark and I appreciate the way you came forward to share your views both during the interactions and in the survey that followed. Your candid feedback helps us strengthen our commitment and refine our focus. It is worth repeating that we have clarity on where we want to be and what we need to do to get there. Your efforts are already beginning to show results. One of the tenets underpining our priorities is employee engagement and we have great early results. GRCB India’s success at the Chairman’s Award led by Team Mirchiwadi and strengthened by India’s nationwide ‘Make a Difference, Paint a Difference’ initiative and two individual nominations by Inderpreet Kooner and Gururaj Rao, is a reflection of our socially engaged colleague base. In addition to this, there were a host of community initiatives organized by colleagues in the last two months, which received a heart warming response from staff across the country. The Environment Day initiatives, volunteering opportunities with Pratham, UNICEF and the launch of the Bal Asha playground were all occasions that brought out the best in us. I was particularly delighted to see that individual business units like the Prestige Banking team came forward to combine the community cause with business and have strengthened our claim as a bank with a social conscience in their ‘Plant a Tree’ customer acquisition campaign. The Wave provides an excellent tool to showcase our work and achievements to colleagues around the country and across the Emerging Markets region as a whole. So please do keep your contributions flowing.

Best regards

Ram Gopal

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Vol 6: Jun 2009

Vinit Chandra, Chief Executive, GRCB Emerging Markets
There is only one Barclays, wherever we operate and to whichever part of the business we belong.

It has been three months since I assumed charge of the Emerging Markets franchise. I am deeply honoured to inherit such a strong business, with so many talented people. I am sure that we would not have the business we have today had it not been for your relentless efforts. So I would like to take this opportunity to say 'thank you' for all that we have achieved so far. On the challanges we face: I would like to outline the challenges we face in the current market and to make clear what we need to do as a team so that Barclays wins in India and across the Emerging Markets as a whole. Since the Emerging Markets franchise was set up in early 2007, the pace of growth has been truly incredible. We expect this region to remain a source of valuable opportunities for Barclays with higher levels of growth, and faster recovery times than our mature counterparts. Our long-term strategy remains valid and intact. Together we will continue to earn, invest and grow. However, if we are to remain successful, we must constantly look at ways to adapt to changing market conditions. On our priorities for the year ahead: Our priorities for 2009 are common-sense responses to the downturn. Let me highlight five things that we need to continue doing:

? make full use of our global technology platforms in order to improve efficiency. This is an First, we must
important part of what we are doing in India;

? must continue to invest in internal training and development to ensure that we have a worldSecond, we
class workforce. One of the reasons Barclays is in India is because of the presence of a highly educated workforce. And in Barclays India, I know that HR is working with the business to help you develop your career with us;

? to improve our risk management systems; Third, we need ? Fourth, we must improve the productivity of our distribution network; ? have to enhance our management information and analytical capabilities, in order to drive And fifth, we
down costs and improve profitability. We have done a lot here but there is potential for further improvement. If you have any ideas, please tell me about them. On India – The market: For many years, as you would be aware, our attention in the Emerging Markets was focussed on tapping into the robust opportunities that Africa had to offer. We now plan to leverage and grow our businesses in India,

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Vol 6: Jun 2009

Vinit Chandra, Chief Executive, GRCB Emerging Markets

Pakistan and Indonesia and, over time, expand to other markets in the region to build a strong Asian presence as well. As one of the world's fastest growing economies, India has long been the proverbial 'Jewel in the Crown'. The fact that India is projected to grow between 4-5% even in these difficult times reinforces India's position, and the faith of the corporate world in India, as one of the most exciting markets to be in. The Indian regulators have time and again shown that they are progressive, but prudent in their approach to risk. The stimulus packages launched by the government and the Reserve Bank of India to limit the impact of the global financial crisis and increase liquidity, soften interest rates and jumpstart consumer demand have been lauded by financial institutions globally. And while they will no doubt take some time to show positive results, the first signs of a change in sentiment can be seen on the horizon. On our strategy: We are, of course, not immune to these pressures that the banking system in India as a whole is having to weather. Our focus going ahead will be true to our strategy determined at the end of last year. This is a year where we will need to consolidate on the firm foundation that we have set for ourselves in terms of our franchise, our reputation, our distribution channels and our people. The downturn surfaces many opportunities for enlightened organisations. These emerge out of a nimblefooted management that is abreast of the many opportunities and challenges that the changing market realities present. I am confident that the India management team is well equipped to capitalize on many of these opportunities that have and will present themselves going ahead. Although we may have to hold off on some of our more ambitious expansion plans for now, the prospects for our region still look very good. And, I am very pleased to be leading GRCB Emerging Markets at such an exciting time. Looking ahead, I am counting on you to help build on the solid foundations that have been established. And to work towards realising our vision: to be the best retail and commercial bank – every customer, every market, every product, every time. On how we should all work together? The starting point for us all is to acknowledge that there is only one Barclays, wherever we operate and to whichever part of the business we belong. I respect diversity, uniqueness and the importance of ‘local’, but I cannot stress how important it is for our customers to recognise the same Barclays character whether they're dealing with us in Kenya, India or London. And the customer must always remain at the centre of everything we do. To summarise, we have achieved much, but we have much still to do. To this end, I've no doubt that you have high expectations of me. That's good. That's as it should be. You should therefore know that I see it as my job to support you, wherever possible, in the right way. You should also know that I have high expectations of you… I also see it as my job to challenge you. As a team you show real promise, what I expect to see now is that you live up to that promise, deliver for our customers and deliver for Barclays. I look forward to working with you to build a strong team that is focused on achieving the five priorities I outlined earlier. Do this and together we will take the next steps to build a winning business.

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Vol 6: Jun 2009

India Shines
Congratulations to TEAM MIRCHIWADI for not only winning the Team Achievement of the year for the Asia Pacific region but also bagging the Overall Chairman’s Award this year.

at the Emerging Markets level. Four of the six made it to the global finalists’ list. One won the Asia Pacific Award and the Overall Chairman’s Award for 2009
! Barclays GRCB India tied with Barclaycard US for the

highest number of finalist nominations amongst all Barclays entities globally, at the Chairman’s Award this year
! The Awards reached India on the 7th and our offices

Team Mirchiwadi receives award from Mani Subramanian, CEO,Barclays Capital and Ram Gopal, Interim MD,Barclays GRCB,India

– after a fair bit of drama around a demand draft – on the 8th. The Awards boxes were left unopened for a full day and a half in Ram Gopal’s room– though we often walked past the boxes trying to fathom what surprises they could hold inside!
! The Overall Chairman’s Award reached us in three

By the time you read this, TEAM MIRCHIWADI would have been complimented and congratulated many times over, not only by our colleagues in India but from countries across the Emerging Markets and Group. And why not. Connecting an entire village to the world is something that everyone would have loved to see happen, but these colleagues have acted and actually made it happen! While we collectively bask in the glory of their achievement, let us share with you some of the lesserknown highlights leading up to this milestone.
! Swine flu took its toll on the Chairman’s Awards this year.

pieces, thanks to the courier company! Special arrangements have been made to deleiver a replacement. When we clicked on the link on the 9th morning, we were awe-struck. The headlines said, “Colleagues in Barclays India are celebrating after 'Team Mirchiwadi' was named the overall winner of the Chairman's Awards 2009”. We were not! But then, we soon made amends!! Congratulations to all the finalists once again and to all our colleagues across the country. Our finalists and winners have really made us proud. Next year, let's look at achieving ‘perfect vision’ – 6 finalist nominations out of a maximum possible of 6 nomination slots!

Finalists were asked to cancel their trips to Madrid, Spain well after many of them had all of their travel arrangements in place.
! Barclays GRCB India had sent nine nominations to the

Chairman’s Awards this year. Six of the nine got selected

Just In!

You would be thrilled to know that two members of Team Mirchiwadi have been invited for lunch with Marcus Agius, Chairman, Barclays Bank in London. Three cheers for Team Mirchiwadi!

yourself to a community initiative programme this year? Poll Would you commit to internalcommunicationsind@barclays.com Send in your answers
We asked - Do you like the landscape version or the portrait version of The Wave? 66% of the respondents said that they would like to read The Wave in the portrait version while 34% were happy with either version.

66%

34%

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Vol 6: Jun 2009

India Shines
CHAIRMAN'S AWARDS 2009 FINALISTS' SNAPSHOT TEAM CATEGORY Team Achievement of the Year (Asia Pacific) Team Mirchiwadi, GRCB Emerging Markets, India Rural Mirchiwadi suffered from a lack of education facilities, scarce drinking water and poor transport links. But five Barclays India volunteers have helped transform the village. Abhishek Sharma and his colleagues improved the community’s infrastructure dramatically, cleaning and repairing the village well, building a new road and renovating Mirchiwadi’s only school, with help from more than 150 villagers. donations from the business, Michael's efforts have led to more than 4,000,000 JPY (£27,000) being presented to various charities and organisations.

Individual Achievement of the Year (Asia Pacific) Inderpreet Kooner,GRCB Emerging Markets, India

Team Achievement of the Year (Asia Pacific) Project Step by Step, Barclays Capital, Hong Kong In May 2008 Sichuan, China, was devastated by an earthquake which left millions of people homeless. Within weeks, more than 250 volunteers from Barclays Capital, Barclays Wealth and Barclays Global Investors in Hong Kong, India, China, Singapore and Tokyo had pledged to help. Led by Barclays Capital in Hong Kong, the volunteers organised activities across the region to raise funds, helping to pay for clinics and school equipment. A long-term volunteer with visually impaired people, Inderpreet Kooner recognised that due to a lack of suitable educational materials, partially sighted students were often unable to achieve their full academic potential. In 2008, Indepreet worked with Samarthanam,a nongovernment organisation to address the issue, helping develop a series of audio-based learning aids.

Team Achievement of the Year (Asia Pacific) Make a Difference, Paint a Difference team, GRCB Emerging Markets, India In Barclays India’s first nationwide community initiative, ‘Make a Difference, Paint a Difference’ saw 417 employees across the country create paintings under the theme of making the world a better place. The works of art were used in greetings cards and calendars, which were sold with proceeds going to the Concern India Foundation, a non-government organisation supporting education, training and welfare for visually impaired people, orphaned children and children in India’s slums and rural communities.

Individual Achievement of the Year (Asia Pacific) Gururaj Rao,GRCB Emerging Markets, India

INDIVIDUAL CATEGORY Individual Achievement of the Year (Asia Pacific) Michael Clemons, Barclays Capital, Japan Since joining Barclays Capital Japan, Michael has rallied colleagues to support charities across the country. Through a range of fundraising activities from sponsored walks to volunteering, and by co-ordinating matched

More than 11 million children in India are homeless and thousands more live in orphanages across the country, yet less than 3,500 children a year are adopted. It's a statistic Gururaj Rao is committed to improving. He has long supported the Bal Asha Trust, an organisation which cares for disadvantaged children, and his dedication has inspired colleagues to raise funds for the cause and share their time with the children too.

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Vol 6: Jun 2009

India Shines
Team Mirchiwadi says it all
Have you communicated the same with the people of Mirchiwadi and the NGO that you have won this? What is their reaction? Yes, we have touched base both with the people of Mirchiwadi as well as our partner NGO. All concerned are happy as they see it as their victory too. We look at this as only the beginning for the people of Mirchiwadi, with the hope – and ambition - of taking this project to greater heights!

What do you want to do beyond this at Mirchiwadi or other projects? What we have helped provide to the residents of Mirchiwadi are basic amenities. We believe that we still have a long way to go, in terms of addressing the villagers’ needs. We have in mind various other projects, such as starting community centres and providing opportunities for self employment (vocational courses such as sewing, computer courses, book binding etc). Enhancing infrastructure would also be a focus area, whether with regards to providing water, paving roads, rain water harvesting or a spot of kitchen gardening. This way, each villager would also be, to an extent, self-sufficient and contributing to the community. For the residents themselves, we would like to focus on upscaling the education facilities currently available to the children, as we firmly believe that not only is education a fundamental right that every child has, but also goes a long way in developing a sense of self-worth in the community at large. It is not an expense, but an investment towards the country’s future.

How do you feel now? Do you think that you will reach this far and win the Chairman’s Award? At the outset, Team Mirchiwadi would like to express its sincere and heartfelt gratitude towards Barclays for believing in us to be deserving of this honour. This is one of the most memorable moments – a personal milestone for each of us, and a humbling experience on realising that this is also a first for Barclays India. While doing the initial spadework, our only aim was to prioritise those activities that would go on to transform the lives of people at Mirchiwadi – while staying within the stipulated budget! Our focus has been mainly on providing connectivity to the village. We were sure that we would give a pathway to this lost little village. We also wanted to do our bit for the children of the village; it was a great joy to see happiness in the eyes of the children walking down the road donning their crisp new school uniforms. Some students confided that this was the first time in their lives that they wore new clothes. To us, that spoke volumes – seeing the hope shining in their eyes... It was experiences such as these, and the time we spent with the children, that made us realise that all the effort we had put in was worth it! It was our good fortune that we accomplished all the tasks that we undertook. Of course, winning the Chairman’s Award for 2009 has only made the experience more rewarding!

How do you think that you can now help colleagues towards contributing to community service and people who are in need at large? We can actually see a lot of buzz and excitement in colleagues to do their bit towards the community. We are sure that as and when fresh initiatives are launched a lot more of our colleagues will come forward to do a lot of good work. We really hope that the overall winners award should make its home in India, we can win year after year. This has been an enriching experience for all of us. The last couple of months have been tough on the work front, but this award has come like a breeze of fresh air. The feeling that we have been getting is that this is an award for Team Barclays India and not only Team Mirchiwadi.

What is your message to other colleagues at Barclays ? We have all worked in different organisations but Barclays is different. The support that we have received through the entire chain of Corporate Sustainability initiatives has been amazing. The management should keep this momentum as we are truly making a difference to the lives of needy irrespective of caste, creed, and community. The difference in our initiative is that we have not just donated but participated, worked with them, shared with them and made them feel we are with them. If we have to touch these hearts its not donation alone but participation that is important.

Does it make the project bigger for you as you have now won the Chairman’s Award for the same? Yes, we would believe that, as winning is just the beginning. Every time a colleague congratulates us, it is in a way a reminder of our responsibility towards contributing to society. Each one of us now feels the responsibility even more. When we took up the project Mirchiwadi, there were no expectations but for the fact that we wanted to give our best, now we hope that our future endeavours are equally enriching for all of us.

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Vol 6: Jun 2009

Giving you more choices and opportunities to touch lives…

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Vol 6: Jun 2009

Giving you more choices and opportunities to touch lives…

We all have the desire to contribute towards the community and to do our bit to make the world a better place to live in. Somehow this desire often gets overshadowed by the hectic pace of our lives, and we forget where to start from. This is where the Corporate Affairs team steps in. Their vision is to provide each and every member of Barclays GRCB India family with the opportunity to be meaningfully engaged in community service activity at least once a year. Taking a step ahead in the same direction, they launched the ‘Gift a Smile’ programme in April 2009. The idea was to not only to give colleagues an opportunity to ‘connect’ with the community, but get associated with a cause of their choice. The tone and theme of the 15-day long launch campaign was carefully chosen to be positive and constructive (which the programme truly stands for) rather than morose and sympathetic. The smiles and innocence that come through in the visuals are a reflection of the belief and confidence of the people who we are supporting through this programme. The final list of five NGOs (chosen from a basket of over 80 NGOs shared with us by our partner, Charities Aid Foundation) mirror the five Barclays Corporate Sustainability platforms, while ensuring at the same time that they provide a fair mix of local and national charities.

! Akanksha Foundation – provides formal and non formal education ! Chetna – works with street children and has a special focus on the girl child ! Dignity Foundation – supports and caters to the needs of the elderly ! Banyan – provides care and rehabilitation to mentally ill and destitute women ! Bombay Society for Prevention of Cruelty to Animals (BSPCA) – focuses on animal welfare (outside the
original list of NGOs supported by CAF) With the launch of ‘Gift a Smile’, Barclays GRCB India became the first country across the Emerging Markets and the fourth in the Barclays world to roll out such an employee payroll giving programme. A total of 87 employees have signed up for the programme to date – close to 6% of our total workforce. While some colleagues might find this number small, this should be seen against the global success benchmark of 2% for colleagues opting it in the launch month. Our initiative has also inspired three other Barclays entities in India – BSS, BTCI and Barclays Finance – to roll out this programme. All three are in close talks with us to understand how we went about the same. Our efforts to raise colleague awareness and interest in the programme continues with our efforts to organize interactive sessions with the managers and beneficiaries of our chosen NGOs. Be a part of these programmes to understand how your contribution can indeed gift a smile to somebody’s life. If you wish to join the programme and be a part of our efforts to bring about change, please write in to our Community Manager, Gururaj Rao at Gururaj.rao@barclays.com to get more information on the same. Our Corporate Affairs team is committed to provide you with ways to keep your community quotient alive!

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Vol 6: Jun 2009

Your Voice
Mini Town Hall Survey Analyses

We are thankful to all colleagues who participated in the Mini Town hall survey organised in the Month of May. We have the results with us and we are happy to share these with you. We are working on the feedback you provided to us to make the townhalls more engaging and convenient for you.
? May 2009 Month – ? Participants – All colleagues, except the technology team, who participated in four mini-town halls

in Mumbai and Delhi
? method – Conducted through an online survey tool Research ? of respondents to the survey – 171 Number

Key findings:
? The format of the mini town-halls were liked by all colleagues ? Colleagues do appreciate the efforts that management has made to reach out to them. ? The maximum number of recommendations / views suggest that colleagues want more transparency

and clarity on business in town halls

Did you like the format of the town hall?

? has received a thumping majority The format ? the maximum respondents who have said 'no' Coincidently,
are amongst the first 20 respondents to the survey

Please rate the town hall in terms of - providing clarity to the business situation and clarity in expectations? (Please regard 1 as the least and 5 as the best)
? 45% of respondents have voted in favour of the town hall

providing clarity on the situation

5 11% 13% No

1 9% 2 17%

87% Yes

4 34% 3 29%

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Vol 6: Jun 2009

News round-up

'Fan of India'
Barclays launched its search for the the ‘most passionate supporter of the Barclays Premier League’ in the country between 11 May to 9 June. India is the first Barclays country to launch this contest. From Kerala to Kolkata, Mumbai to Mohali and Goa to Guwahati, India has some of the most fervent fans of Barclays Premier League football in the world. Barclays wanted to find fans that went to extraordinary lengths to support their favourite Barclays Premier League team or player. Fans were requested to explain in no more than 100 words why they are the Barclays Fan of India and can include slogans, videos or photographs to support their entry. A special micro-site www.barclaysfanofindia.com, was also created to provide a chance to as many people as possible. All entrants in the Barclays Fans of India competition have the opportunity to win:
? two to watch their favourite Barclays A trip for

First anniversary of Timescard

Barclaycard recently celebrated the first anniversary of its co-branded Times Card (a joint initiative of Barclaycard and TimesofMoney) with a series of fabulous offers made available to its customers. The offers span popular consumer pursuits such as shopping, movies, personal grooming, entertainment and leisure. Times Card has, over the past year, continued to unveil exciting offers for its base of over 1,00,000 satisfied customers. Existing offers on the Card include: ‘Shoppers Whoppers’ – the promotion that allows you to ‘shop till you drop’ at amazing prices; ‘Movie Mania’ - wherein cardholders can avail of tickets of their favorite movie at the theatre of their choice and ‘Beauty & Body’ - for all who would like to indulge in rejuvenating beauty treatments at leading salons and spas around the country, at prices that are unbelievable. For all those who need to get away from the grind, the Times Card has a special ‘Holidays’ category, which offers cardholders irresistible holiday packages across the country. Foodies can also find solace in ‘Culinary Stops’, which acts as a guide to the country’s best restaurants. The card also provides privilege access to a host of prominent celebrity events and parties including Filmfare Awards and the Pantaloons Femina Miss India beauty pageant. The Barclayscard team is currently inviting colleagues who want to apply for a Barclays credit card. Please write into harioon.shaikh@barclays.com for more details.

Premier League team play ‘live’ in England during the 2009/10 season. This will include flights, 4-star hotel accommodation, tickets and transfers.
? 10 runners up will also receive a Barclays Premier

League team shirt of their choice The four leading sports stars who have endorsed the contest are, Bryan Robson (Manchester United’s legendary midfielder), Pepe Reina (Liverpool’s Spanish goalkeeper), Glen Johnson (Portsmouth) and Andrew Flintoff (England Cricket’s all rounder) More than 7000 football enthusiasts have participated in the contest. The winner announcement is expected to be made by first week of July. The Barclays Premier League is the most popular domestic football tournament anywhere in the world, with over 4.77 billion people watching it in over 200 countries

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Vol 6: Jun 2009

News round-up

Hello Money gets upgraded with NEFT services
Barclays Global Retail and Commercial Bank (GRCB) India has enhanced its flagship ‘Hello Money’ service, with National Electronic Funds Transfer (NEFT) facility. Through this facility, customers can now transfer funds to other bank accounts in India from their Barclays account with the help of their mobile phones. The facility will be offered free to customers availing of the Barclays ‘Hello Money’ service and will allow them to transfer their money faster and more conveniently, without having to visit a branch. The funds will be transferred to the beneficiary’s bank using the Reserve Bank of India’s Payment Interface (PI). Customers availing of Hello Money services would need the details given below of the beneficiary bank to initiate the transaction: 1.Beneficiary’s Account Number 2.Beneficiary Bank’s IFSC Code 3.Amount to be transferred. 4.Beneficiary’s Name Customers will need to work within a daily transfer limit is INR 5000/-.

Taking the lead in forging meaningful and responsible relationships

The Barclays Retails Liabilities team has struck a unique cord between business, customers and community service in India. Strengthening Barclays commitment to the community and making customers a part of the same, the Barclays Prestige Banking team has decided to ‘plant a tree’ on behalf of every new customer relationship that they acquire between the 1st and 30th of June 2009 in celebration of ‘Earth Month’. The World Environment day on 05 June, set the background to the initiative. The initiative has been inspired by an activity undertaken on Earth Day, 22 April, by the Mumbai Branch who decided to do their bit for the environment by planting trees. The Prestige Banking team saw this as a unique way to welcome customers into the Barclays fold and strengthen existing customer relationships. As part of this initiative, all existing and potential customers of the Barclays Prestige Banking unit will be asked to opt for a ‘Systematic Investment Plan’ or avail of Insurance through Barclays. For every new relationship that the Prestige Banking unit acquires between 01 June and 15 July 2009, the team will plant a tree. Existing customers will be informed by their respective relationship managers via e-mail as to when this is being done. The team would also be sending text messages to existing customers to create greater awareness around the programme. The tree plantation drive will be carried out in the last week of July in Mumbai. The Prestige team has tied-up with Sage Foundation – an NGO that exclusive works for the cause of protecting environment – to take matters forward.

Cash Management services
Barclays Global Retail and Commercial Bank (GRCB) India, announced the launch of 'Easy Cash Management Solution', an end-to-end suite of products and services to enhance ease and efficiency. With this, Barclays commercial banking customers can now access a slew of customized products. Commercial banking today has a roster of over 2300 clients. This includes large multinationals, public sector companies and a growing base of small and medium enterprises. Barclays offers them a broad spectrum of services including loans, deposits, payments & cash management services, trade finance and treasury solutions. Barclays has already launched its receivable products under Cash Management last year. The three new products currently on offer are:
? Direct Debit ? Invoice Matching and Reconciliation ? Post Dated Cheque Management

Furthermore, these services will be linked through internet banking to provide easy accessibility and convenience to Barclays GRCB commercial banking customers.

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Vol 6: Jun 2009

We make it simple for you
It never costs to know more especially about the industry one works in. In our effort to add to your knowledge of functions beyond your domain, we are starting a series of articles which will tell you about one business in each edition. We start with Wholesale Banking and de-mystify the function for you. And doing so is Ruchi Saraswat, who is Credit Analyst with the Wholesale Banking Credit team at Barclays GRCB, Delhi. The series will be lead by colleagues. If you are interested and want to share your expertise with us, do write in to us about your business at internalcommunicationsind@barclays.com

Wholesale Banking
“All of life is the management of risk not its elimination.” - Walter Wriston, former chairman of Citicorp Walter Wriston aptly summarised the approach with which the risk, irrespective of magnitude, should be viewed and managed. Be it risk of Ruchi Saraswat crossing the road in your neighbourhood or assessment of a million pound lending proposal. In common parlance risk tends to be viewed in a very negative sense. It is generally defined in terms of something that might occur to adversely affect you in achieving your goals. Here, we would like to broaden that definition a little and suggest that risk may not always have an adverse impact. Let's just say that risk is not necessarily something going wrong - it is simply something turning out differently to how you expected or planned for. This view allows the possibility that risks can be turned into opportunities if managed effectively. It is a constant process of identifying the negatives of why a decision or action/opportunity should not be taken which leads to opportunities not being pursued. Credit Risk is the risk assumed for the possible non-payment of credit extended. While financial institutions have faced difficulties over the years for a multitude of reasons, the major cause of serious banking problems continues to be directly related to lax credit standards for borrowers and counterparties, poor portfolio risk management, or a lack of attention to changes in economic or other circumstances that can lead to a deterioration in the credit standing of a bank's counterparties. Identification of risk and developing a mechanism to address them is critical to appraisal of any lending opportunity. Although specific credit risk management practices may differ among banks depending upon the nature and complexity of their credit activities, a comprehensive credit risk management program will address under mentioned four areas – (I) Establishing an appropriate credit risk environment in India comprises of two major units –
? Credit Analysis ? Credit Administration & Control

While Credit Analysis unit is responsible for evaluating and assessing of lending proposals submitted by Commercial Banking relationship team and granting a decision on the same ( i & ii point of above mentioned 4 step approach), Credit Admin unit takes care of post sanction documentation, security creation and monitoring of accounts ( iii & iv point of above mentioned four step approach) However, credit risk must not be viewed and assessed in isolation, not only because a single transaction might have a number of risks but also one type of risk can trigger other risks. Since interaction of various risks could result in diminution or increase in risk, the risk management process should recognize and reflect risk interactions in all business activities as appropriate. With this view, wholesale banking credit doesn't manage only credit risk, but also looks at a number of other risks affecting the business. Let's now see how a given business is affected by various types of risks depending on a number of factors. The next diagram explains how a particular industry is affected by micro and macro forces –

Macro Risk (Affect the industry as a whole) ? Risk Industry ?Risk Market ? Risk Political ? Regulatory Risk

Given Business or Company

Micro Risk (Affect the individual business) ? Risk Financial ? Management Risk ? Supply Chain Risk ? Competition Risk ? Operational Risk ? Concentration Risk

(ii) Operating under a sound credit-granting process (iii) Maintaining an appropriate credit administration, measurement and monitoring process (iv) Ensuring adequate controls over credit risk Accordingly, Wholesale Banking Credit team at Barclays GRCB

Finally, assessment of a borrower’s application can be a combination of one or more of these risks. The credit team tries to manage these risks on an ongoing basis without losing sight of common objective of preserving banks capital without compromising on the returns to the stakeholders. So next time don’t be too surprised if a credit manger tells you, “I am in business of taking risk”, what he really means is capitalising of opportunities while managing calculated risks.

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Vol 6: Jun 2009

Your corner
In the lap of nature – The Hermitage
engaged. Our hostess cooked all meals, and she did a wonderful job of it. We found ourselves licking our fingers after every meal. We rounded off our trip trying our hands at pottery – a potters wheel has been placed in a hut with a sheet of instructions and all materials needed, for those who want to try it out. After a few trials and errors, we managed to make something resembling a pot, which brought us a great deal of satisfaction. It was with a heavy heart that we said goodbye to our hosts and returned back to the mundane city life, but enriched in ways more than one with our short, but sweet experience of nature at its best.
On the river bank

For more details about The Hermitage, visit their website: http://thehermitageguesthouse.com All details – contact numbers, tariff, activities etc. can be found on the site, which is quite well maintained.

Living in a concrete jungle, tied up in day to day chores, one wonders what it would be like to live far away from civilization. We got a glimpse of just that when we visited The Hermitage Guest House. Home of David and Morvarid Fernandez, The Hermitage is 45 Kms off Belgaum, nestled amidst the Western Ghats. The couple moved there 28 years ago, and they have created a haven for themselves into which for the past 7 years, they have accepted a few guests who would like to experience the beauty of nature in an eco-friendly manner. Travelling with our five year old son - Samhith, we were advised to settle down in the Gota, a rural style cottage, with electricity and an attached bathroom. The other options for stay are the Macchan – a tree house, and a Kadaba – a typical village hut, both which have no electricity and have open-roofed bathrooms outside. There are a number of activities that can keep you occupied during your visit to The Hermitage, especially if you are an avid birdwatcher, trekker or swimmer. We chose a nature walk through the jungle on the first day, followed by a part-drive, part-trek to the Mandovi River. Walking through the dense jungle was a wonderful experience, and though we did not come across any wild animals, the absence of human habitation itself was a wonderful thing. We saw a number of birds and insects, and could identify a few with the help of David, who knows this area like the back of his hand. Samhith enjoyed the visit to the river, getting into the water looking for stones to take back home, getting a piggy back ride with David to cross the river, and spotting a snake skin shed on the stones on the riverbank. The Hermitage has a central recreation area, which is tastefully decorated, the high point being a pair of bison skulls, which were found in the area. All meals are served here, and while you wait for food or relax after a heavy meal, there are plenty of games and crafts to keep you

The Macchan

Cattle Egrets Anuradha Shankar is the better half of J. Shankar Narayan, who works with the IT team

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Vol 6: Jun 2009

Your corner
Oh Calcutta!
I remember my first sight of Calcutta – the Coromandel Express turned a corner and there was the Howrah Bridge resplendent in all its dulled steel glory. My childhood memories about this place fill me with joy. Endless number of delicious, elaborate Bengali meals, small villages in West Bengal with quaint names, filthy lotus ponds and dense black greenery. Memories which will never fade away, though the the fond memories of that trip. Going to my relatives, my maternal family, was a revelation. I met the whole spectrum, from admiring aunts who told their sons what a scholar I was, to an awfully judgemental grand-uncle who asked me why I was so dark (“moila rong”, the colour of mud) when I had such good-looking, ruddy-complexioned parents. They petted and made much of me (much to my relief as I seemed almost ignored in other quarters, after the birth of my brother!) Best of all, life was one never-ending gastronomic parade-chochoris, chutneys, fish preparations , the savouries, the tea flavoured with community gossip, and the sweets. I was woken up in the morning with succulently soft sandesh, serenaded at lunch with mishti doi, and lulled to sleep with fresh rabri . …it was the same case whether in Gariahat or Cossipore. I can never forget standing in all my adolescent glory, on the banks of Belur Math, taken there by my garrulous cousin, wondering if Vivekananda stood there too and pondered the mysteries of life…while the glorious domes of Dakshineshwar glittered on the other side of the Hooghly. Nothing in all my experience since then even comes close to that matchless peace one feels, being rowed by a singing boatman, ever so slowly, across the Hooghly … to step right into the Goddess’s

Supriya Rajan

childhood did! The train chugs into Howrah station and there is my uncle, waiting for us with my cousin. After the initial hugs and pleasantries are exchanged, my eyes look around to scan to check if everything is the same as I had left. I look around curiously at the sacks of litchees on their way to goodness, God knows where. There are mounds of mangoes biding their time in a corner of the station and all around, there is a teeming mass of humanity, talking, spitting, chewing paan – but I don’t care! I am happy, I have arrived home. Of all the places in my mixed-up identity and existence of twelve years, this is one place I identify with the most. My uncle scoops up my little brother in his arms, admiring his sweet smile and the almost fluorescent fairness of his skin while I happily skip along beside him, talking nineteen to a dozen. ‘Calcutta’, my uncle says is “cultured, garrulous, thirsty for knowledge and intellectual exchange and the quintessential bhadralok”. Though, he isn’t Bengali. He takes us to the line for taxis, snaking along, never-ending. We await our turn and I see the Marwari women in their self-secure existence, the Bengali women hen-pecking and screaming down humanity in general, with their precocious children running all over the place, screaming that they are hungry. The hunger of a Bengali child never ceases to amaze me. They feel hungry at the oddest of times and in the vaguest of places.Their mothers are devoted to them and hunger of her child is the Bengali woman’s first priority. Even in those fleeting moments, I am struck by the beauty of the Bengali woman – her flashing eyes (now she’s angry, now she’s flirting), her luminous skin and her black, black hair, falling way past her waist in a thick rope or coiled tight at the nape of her neck. Miraculously, our yellow taxi is in front of us with a cheerful Sikh driver urging us to climb in. The taxi creaks, shudders when it moves, right from the roof to the boot. I imagine that we will all be thrown out especially when we go over a pothole …the taxi shakes like one taking his last breath, and keeps going. Just like Calcutta, it keeps going… The next two weeks pass quickly. Visits to and by relatives and outings to “places of educational interest” - the massive threestorey museum, a local book store to buy the next edition of ‘Tell Me Why’ by Arkady Leokum with my uncle, and to the more plebeian places like the local Lake market, the Kaali Bari, Priya theatre for the latest movie and the puchkawala, are some of

abode in Dakshineshwar. Here is the fearsome glory of the mother goddess, Kali –and her other more peace loving form, Durga. Here is all the glory of Ramakrishna and his simple teachings of humanity and faith. The colour red is all-pervading here – complete in its holiness, its passion of belief and above all, its sense of the living. Life in Calcutta just flows – as mellifluously, as constantly and heartfelt as the Bengali tongue. I sometimes think if there ever is a universal language, it’ll be Bengali – its sweetness and more importantly its ability to describe any feeling completely makes it my first choice. I haven’t been to Calcutta for nine years now. I can almost not bear to go back there– freeze-framed as it is, in my mind’s eye – I know I cannot bear to see the changes. For I am sure, Calcutta has changed – just as I have. Supriya Rajan works in Chennai and is associated with the Query Resolution Unit, Cards and Assets.

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Vol 6: Jun 2009

Your corner
w exci in t priz ing es!

Sudoku
1 5 6 4 2 9 4 7 3 6 5 2 4 7 3 6 7 8 1 5 9 9 7 4 3 2

Quiz

It is a very easy quiz provided you have read the magazine and follow the communications sent to you 1) Who were the two finalists in the individual category for the chariman's awards? 2) Commercial Banking announced the launch of which service? 3) Mirchiwadi project was all about? 4) Wholesale Banking Credit unit comprises of? 5) Latest addition to Hello Money service is? 6) Five priorities as stated by Vinit in his address for 2009 are? 7) Prestige Banking team's recent initiative related to environment? 8) In total, how many nominations did India get for the Chairman’s award? 9) India launched the Payroll giving initiative after which all countries? 10) The five NGOs that ‘Gift a Smile’ supports are:
Rush in your entries. The first three all correct entries will win a prize.

Mail your answers to internalcommunicationsind@barclays.com
Please join me in congratulating Lovneesh Bansal from Risk Control and Rigour and Tushad Bilimoria from HR for giving all correct answers for the Quiz in the last edition. Your Prizes will reach you in the next 24 hours.

Answers to last issue’s quiz: 1. Profit Before Tax FY 2008 4. Walk a mile in my moccasins 7. Aiming for customer delight 9. October 2008

2. Detailed Risk and Control Analysis 3. Bhaskar Venkateswaran 5. called RMU Audit. 6. Paint My Dream 8. Latitude Club newsletter also the Latitude Co-ordinates of Delhi 10. +000 800 440 1540

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A good one...better actually Asif Upadhye Prestige Banklng Good One, Cheers ! keep it up. Armine Mehta Credit Operations - GRCB It's pretty well done….!!!!!!!! Shruti Choudhary Commercial Banking

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