Message from MD – July 2017

Dear friends,

June was the last month under the VAT regime and we are all looking forward to new times in independent India called GST ERA. GST stands for Goods and Services Tax levied by the Government in a move to replace all of the indirect taxes. The main reason behind introducing GST is to improve the economy of the nation. The business world across the globe looks at GST in India in a very positive way due to the following reasons

GST is a single taxation system that will reduce the number of indirect taxes. From now, a single taxation term would cover all of those indirect taxes.

The prices of products and services would reduce, thus this system would prove to be beneficial for the people who are fed up of paying high prices.

This would reduce the burden of the state and the central government. With the introduction of GST, all indirect taxes would come under a single roof.

GST would not be charged at every point of sale like other indirect taxes, and thus the market would develop.

GST would introduce a corruption-free taxation system.

We all believe that the new system will create a customer-friendly environment that’s conducive for business which will take our nation to greater heights of ease of doing business.

Friends, we believe that a happy and motivated team leads to happier customers and better business results. In order to foster a supportive culture where employees are happy and productive, the organization plans to launch a stakeholder-connect initiative named as Bandhan. We are planning this new activity to mainly aim at empowering branches and creating profit centres. The idea is to conduct a joint visit by First Circle members to each branch and to spend a whole day with all stakeholders. We, at First Circle level, believe that our leadership should be a gift and not a threat to our team members. We, as leaders, will take initiative to connect with our team members and then lead. As a result, all should feel trusted, heard and understood. Bandhan includes meetings with customers, employees, bank representatives, DSA team members, prospects, land owners, consultants, vendors, contractors, neighbours and well wishers. The whole meeting will be structured in such a way as to understand, share and resolve all the needs and provide the required assistance at each branch level. Bandhan will be a platform for all stakeholders mentioned above to participate in interactive sessions with First Circle to share suggestions, challenges, views and aspirations. These sessions nurture individual aspirations and encourage personal growth. Leaders across all levels should offer their support which will keep the whole group of stakeholders motivated and satisfied. We are planning to complete the first session of Bandhan in July itself. The next followup will be in the month of December.

The month of June was very special with the inauguration of our 48th project, Asset Green Ford, Tour de Asset across all branches, matured performance on the sales, execution and service fronts, and many well-appreciated PR activities. Congratulations to the key players and my best wishes for a much brighter month of July.

Regards,

Sunil Kumar V