Vol 6: Jun 2009

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

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Cover storyThey have done it!

Read more on page 4...

Sai Krishna

Vikas

Jaideep

KK

Abhishek

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

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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:

?First, we must make full use of our global technology platforms in order to improve efficiency. This is an

important part of what we are doing in India;

?Second, we must continue to invest in internal training and development to ensure that we have a world-

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;

?Third, we need to improve our risk management systems;

?Fourth, we must improve the productivity of our distribution network;

?And fifth, we have to enhance our management information and analytical capabilities, in order to drive

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,

Vinit Chandra, Chief Executive, GRCB Emerging Markets

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There is only one Barclays, wherever we operate and to whichever part of the business we belong.

Vol 6: Jun 2009

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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 nimble-

footed 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.

Vinit Chandra, Chief Executive, GRCB Emerging Markets

Vol 6: Jun 2009

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India Shines

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 lesser-

known highlights leading up to this milestone.

! Swine flu took its toll on the Chairman’s Awards this year.

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

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.

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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

– 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

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!

Vol 6: Jun 2009

Poll Would you commit yourself to a community initiative programme this year?

Send in your answers to internalcommunicationsind@barclays.com

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.

34%66%

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

Just

I !nYou 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!

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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.

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.

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 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

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Vol 6: Jun 2009

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

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 non-

government organisation to address the issue, helping

develop a series of audio-based learning aids.

Individual Achievement of the Year (Asia Pacific)

Gururaj Rao,GRCB Emerging Markets, India

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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India Shines

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Vol 6: Jun 2009

Team Mirchiwadi says it all

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!

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.

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 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.

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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

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!

Giving you more choices and opportunities to touch lives…

Your VoiceMini Town Hall Survey Analyses

9

Vol 6: Jun 2009

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.

?Month – May 2009

?Participants – All colleagues, except the technology team, who participated in four mini-town halls

in Mumbai and Delhi

?Research method – Conducted through an online survey tool

?Number of respondents to the survey – 171

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

87% Yes

13% No

Did you like the format of the town hall?

?The format has received a thumping majority

?Coincidently, the maximum respondents who have said 'no'

are amongst the first 20 respondents to the survey

434%

329%

511%

19%

217%

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% ave voted in favour of the town hall

providing clarity on the situation

of respondents h

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News round-up

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.

First anniversary of Timescard

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Vol 6: Jun 2009

'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:

?A trip for two to watch their favourite Barclays

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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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/-.

Hello Money gets upgraded with NEFT services

News round-up

Vol 6: Jun 2009

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.

Cash Management services

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.

Taking the lead in forging meaningful and responsible relationships

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We make it simple for you

“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

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

(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

12

Vol 6: Jun 2009

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 –

Ruchi Saraswat

Macro Risk (Affect the industry

as a whole)?Industry Risk?Market Risk?Political Risk?Regulatory Risk

Micro Risk(Affect the individual

business)?Financial Risk

?Management Risk?Supply Chain Risk?Competition Risk?Operational Risk?Concentration Risk

GivenBusiness orCompany

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.

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

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Your corner

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

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.

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.

In the lap of nature – The Hermitage

13

The Macchan

Cattle Egrets

On the river bank

Vol 6: Jun 2009

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

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Your corner

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

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 three-

storey 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

Oh Calcutta!

14

Vol 6: Jun 2009

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

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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Your corner

Sudoku

Feedback

Quiz

To share your views, suggestions, articles or photographs for The Wave, please write to internalcommunicationsind@barclays.com

5

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

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

15

nwiet n

xci i gr z sp i e !

Vol 6: Jun 2009

I have passed this on to our Corporate Affairs

team as it is certainly an engaging publication.

The layout is very classy and vibrant and the

pictures capture the great spirit of our

colleagues in India.

Sarah Mashhour

Internal Communications Manager

Barclays Bank Egypt SAE

1. Profit Before Tax FY 2008 2. Detailed Risk and Control Analysis 3. Bhaskar Venkateswaran

4. Walk a mile in my moccasins 5. called RMU Audit. 6. Paint My Dream

7. Aiming for customer delight 8. Latitude Club newsletter also the Latitude Co-ordinates of Delhi

9. October 2008 10. +000 800 440 1540

Answers to last issue’s quiz:

6 7

1

9

7 4

3 2

9

84

2

9

1

5

7 3

62

456

37

4

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.

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