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I am indeed indebted to the management and staff of UAE Exchange &Financial Services Ltd for permitting me to undertake the Organizational Study. I thank Mr. Johnee Praveen Head HR and Mr. Benny Joseph TX for guiding me throughout my study and for providing all necessary Information and assistance pertaining to my study in the organization. I express my gratitude to heads of various departments of The UAE Exchange& Financial Services Ltd for sparing me their valuable time and for taking pains to explain in detail regarding the functioning of the organization. I thank all my friends and colleagues at The UAE Exchange &Financial Services Ltd for assisting me throughout my period of study.


This report is based on an organizational study at U.A.E exchange and financial services ltd. A brief idea about the financial services industry in the Indian and global perspective was obtained. This study is a part of my curriculum. An idea about the organizational structure of U.A.E exchange and financial services ltd has been obtained from this study.

Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. There are various departments for the smooth functioning of the company and the country head is in charge and followed by regional, branch , department and divisional heads. The financial services space is a rapidly growing one in India. UAE Exchange was established in 1980 in Abu Dhabi and has been a pioneer insetting new standards in the global remittance industry. It is registered with the RBI as a public limited Non-Banking Financial Company (NFBC). The company offers Money Transfer, Money Exchange and Travel & Tour services, gold loan, insurance, online payment website in a highly automated environment. Presently, the company has over 282 fully automated operational branches and over 5000 sub agent locations spread across India and Propose to enhance the network with additional 1000 branches.



INTRODUCTION 1.1.Introduction to the Study 1.2.Scope of study 1.3.Objective of study 1.4.Methodology of the study 1.5.Limitations of study

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ANALYSIS OF THE BUSINESS ENVIRONMENT 2.1. Analysis of the remote external environment 2.2. Industry Profile 2.3. Industry Analysis

ORGANIZATIONAL ANALYSIS 3.1. Overview of the organization 3.2. Organization Structure


TITLE 3.3. Functional Analysis 3.4. Organizational Analysis

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Fig 3.1 Fig 3.2 Fig 3.3 Fig 3.4 Fig 3.5 Fig 3.6 Fig 3.7 Fig 3.8 Fig 3.9

Organization Structure Forex Department structure IT Department structure Accounts Department structure HR Department structure Finance Department structure Purchase Department structure Travel and Tourism Dept structure Business Development Dept structure

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1.1 AN INTRODUCTION TO STUDY This is a report on organizational study conducted in UAE Exchange &Financial Services Ltd, is submitted in partial fulfillment of the requirements for the MBA. (Full time) Degree of the Mahatma Gandhi University. Structure of an organization is very important for its functioning and growth. It provides the basic frame work for its progress and expansion. For future managers it is imperative to study the organizational structure and functioning of successful organizations, so that the future managers may guide the organization towards successful and profitable functioning. 1.2 SCOPE OF STUDY The study attempts to understand the performance of different departments. To obtain information regarding strength, weakness, opportunities and threats of various departments. The working condition in the organization, Financial position and Market position of the company. 1.3 OBJECTIVE OF STUDY 1. To learn about the financial services industry 2. To learn about the various aspects of the industry 3. To understand the basic functioning of UAE Exchange & financial service Ltd 4. To identify various practices and process followed by the company 5. To identify the functional areas in the organization and get an insight to various practices, policies & procedures. 6. To analyze the strength, weakness opportunities and threats for the organization.

1.4 METHODOLOGY The study was undertaken by visiting the UAE Exchange &Financial Services Ltd for a period of 2 weeks. Both primary and secondary data are used. Primary data were collected by conducting personal interviews with thedepartmental heads and secondary data were collected from the organization manuals and websites. Data Collection Primary sources: Direct interview with the departmental heads, detailed interview with the divisional heads and by interaction with workers in the company. The data is also collected by observing the functions of the organization. Secondary sources: The secondary sources of data are: l. Organization documents 2. Departmental manuals 3. Periodicals, books etc. published by the company 4. Websites 1.5 LIMITATIONS OF STUDY The study suffers from the limitations of time and resources. The whole data for the purpose of the study has to be collected within allocated time. As a student, resources at command were limited. Further much of the data required for the purpose of study were drawn from secondary sources, so the project cannot be free from the defects of secondary data.


2.1 ANALYSIS OF REMOTE EXTERNAL ENVIRONMENTAL Business Environment refers to the micro and macro environment in which a business operates. A business should be always flexible and dynamic so that it can change according to the various situations it comes across. 2.2 INDUSTRY PROFILE Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds are the Participants in the financial services Industry. Foreign exchange services Foreign exchange services are provided by many banks around the world. Foreign exchange services include: Currency Exchange where clients can purchase and sell foreign currency Bank notes. Wire transfer - where clients can send funds to international banks abroad. Foreign Currency banking banking transactions are done in foreign The financial services industry constitutes the largest group of companies in the world in terms of earnings and equity market cap. However it is not the largest category in terms of revenue or number of employees. It is also a fast growing and extremely fragmented industry.

2.2.1 Global scenario


Foreign Exchange Market The foreign exchange market is a fast paced, international currency exchange that is without rival among financial markets. Its immense popularity among large banks, financial institutions, international companies, and even retail investors ensures that its growth will continue into the future. Characteristics of foreign exchange market 1. The foreign exchange market is unique because of 2. Its trading volumes 3. The extreme liquidity of the market 4. Its geographical dispersion 5. Its long trading hours: 24 hours a day except on weekends 6. The variety of factors that affect exchange rates 7. The low margins of profit compared with other markets of fixed 8. Income (but profits can be high due to very large trading volumes) 9. The use of leverage 2.2.2 Indian scenario The foreign exchange market India is growing very rapidly. The annual turnover of the market is more than $400 billion. The transactions are made on spot and also on forward basis. The Indian foreign exchange market consists ofthe buyers, sellers, market intermediaries and the monetary authority of India. The main centre of foreign exchange transactions in India is Mumbai, the commercial capital of the country.There are several other centers for foreign exchange transactions in the country including Kolkata, New Delhi, Chennai, Bangalore, Pondicherry and Cochin.

In past, due to lack of communication facilities all these markets were not linked. But with the development of technologies, all the foreign exchange markets of India are

working collectively.The foreign exchange market India is regulated by the reserve bank of India through the Exchange Control Department. At the same time, Foreign Exchange Dealers Association (voluntary association) also provides some help in regulating the market. The Authorized Dealers (Authorized by the RBI) and the accredited brokers are eligible to participate in the foreign Exchange market in India. When the foreign exchange trade is going on between Authorized Dealers and RBI or between the Authorized Dealers and the overseas banks, the brokers have no role to play. Apart from the Authorized Dealers and brokers, there are some others who are provided with the restricted rights to accept the foreign currency or travelers cheque. Among these, there are the authorized money changers, travel agents, certain hotels and government shops. The IDBI and EXIM bank are also permitted conditionally to hold foreign currency.The whole foreign exchange market in India is regulated by the ForeignExchange Management Act, 1999 or FEMA. Before this act was introduced, themarket was regulated by the FERA or Foreign Exchange Regulation Act, 1947.After independence, FERA was introduced as a temporary measure to regulate the inflow of the foreign capital. But with the economic and industrialdevelopment, the need for conservation of foreign currency was felt and on therecommendation of the Public Accounts Committee, the Indian governmentpassed the Foreign Exchange Regulation Act, 1973 and gradually, this act became famous as FEMA. 2.2.3 Regional Scenario The financial services space is a rapidly growing one in India. With market sentiment turning positive due to the formation of a stable newly elected government, the ripple effect is likely to felt across all the financial services in India. According to the latest Central Statistical Organization (CSO) data, financial services sector rose by 9.5 per cent during the end of last year.

2.3 Industry analysis

The purpose of the foreign exchange market is to facilitate the trading of various currencies around the world. Although many different types of currency are exchanged, the majority of trades involve only a small number ofthem, including the U.S. Dollar, Yen, Euro, Swiss Franc, Pound Sterling, Australian Dollar, and Canadian Dollar. The U.S. Dollar is involved in over 90% of all exchanges on the forex markets. Contrary to popular belief, there is no one centralized market in which all currency trading occurs rather, the foreign exchange is a loose conglomerate of several different markets, each of which hasits own rules and regulations. Major markets are located in the U.S., London, and Tokyo, and each is open during different hours according to their time zones. Naturally, trading is heaviest when the market hours overlap, and almost two thirds of the trading activity at the New York market takes place during the morning while the European markets are still open. Because there is no centralized market, a single exchange rate for a given currency does not exist. Because of the over the counter (OTC) nature of the markets, the bid and ask rates for a currency can vary among different geographic markets and market makers, although they are usually fairly close to each other. 2.3.1 Industry key players Western union money transfer Thomas cook(money exchange) Akbar and Ria travels (travel and tourism) Manappuram Finance (gold loan) 2.3.2 Competitor analysis As UAE Exchange includes various products , the number of competitors for the organization as a whole is less apart from the competitors in the marketing of various product services. The efficiency and effectiveness in which the organization functions leads to its success.




Over 550 direct offices across 29 countries make UAE Exchange, the largest networked remittance brand. Strong correspondent banking relationship with over 150 global banks further adds to its might. 3.1.1Background and History Parent Company, New Medical Centre (NMC) Group The NMC is one of the fastest growing and most prestigious business conglomerates in the UAE Established in Abu Dhabi in l975, the group is led by two visionaries, His Excellency Abdulla Humaid Al Mazroei, former Minister of Justice and Law in the UAE cabinet and the business magnate Dr. B.R. Shetty. The group has a global network of companies engaged invarious business interests across the Middle East, India, Sri Lanka, Bangladesh, Australia, USA, UK- ranging from Healthcare, Pharmaceuticals(manufacturingand trading), Medical &scientific equipment to foodstuff, catering &hospitality, information Technology, gold & Diamond Jewellery, Engineering services, Financial services and Advertising & public Relations. UAE EXCHANGE GROUP UAE Exchange was established in 1980 in Abu Dhabi and has been a pioneer insetting new standards in the global remittance industry.UAE Exchange is an ISO certified company and has won various global business excellence and quality awards. It has been awarded the prestigious Dubai QualityAppreciation Program of the Dubai Quality Group, based on the European Foundation for Quality Management model. It is also the recipient of the Mohammed bin Rashid Al Maktoum Business Award, based on Business High Performance model. UAE Exchange aims at 100% customer satisfaction, and focuses on religiously follows its 3P approach People, Product and Process. Exchange in its pursuit of excellence in all areas of operation.The seamless integration of operations using quality systems such as 5 S and Six Sigma, bring absolute control to end processes. Various proactiveprocesses such as SMS intimation and dynamic customer enquiry systems are thevalueadded services provided by the company. A UAE Exchange is a prominent member of the NMC Group one of the leading business conglomerates in Abu Dhabi, UAE, having diverse activities spread across the world. UAE Exchange celebrates 25 progressively

successful years of commitment toquality products and an unblemished image, which has empowered it to becomean acknowledged force in the world remittance market. All the activities of the Indian liaison offices are controlled and managed form the Kochi office. UAE Exchange& Financial Services Ltd, India The UAE Exchange Group commenced its Indian Operations in 1999 with 5 Branches in the state of Kerala, the name UAE Exchange & Financial Services Ltd. The company was incorporated as a public limited company under the IndianCompanies act 1956. It is registered with the RBI as a public limited Non-Banking Financial Company (NFBC). The company offers Money Transfer, Money Exchange and Travel & Tour services, gold loan, insurance, onlinepayment website in a highly automated environment. Presently, the company has over 242 fully automated operational branches and over 5000 sub agent locationsspread across India and Propose to enhance the network with additional 1000 branches. The company also has a full- fledged IT division for developing comprehensive, user friendly software solutions for Indian as well asInternational markets. 3.1.2 Corporate Vision and Mission Corporate Vision "To be the nation's natural first choice" Our goal is not just to expand our realms steadfast and explore further opportunities for growth but to be reckoned as the nations best liked and natural first choice in financial services.

Corporate Mission "To continue our commitment to excellence" UAE Exchange was founded on the towering resolve to provide service that surpasses all conceivable notions of excellence. Our mission has been fulfilled but untiring

efforts still continue to constantly rededicate ourselves and redefineour service to meet the heightened Expectations of our esteemed clients. 3.1.3 Products and Markets Money Transfer Service UAE Exchange & Financial Services Ltd is the Paying Agent for 'Xpress Money' in association with UAE Exchange Centre LLC, Abu Dhabi and for 'MoneyGram' services in association with MoneyGram payments Systems Inc. USA.
Money Transfer service is provided at the company's countrywide branches and subagent locations, including several esteemed banks and financial institutions, in accordance with the specific permission accorded to us by the Reserve Bank of India for Money Transfer Service Scheme.

Money exchange UAE Exchange & Financial services Ltd is approved by the Reserve Bank of India as Authorized Dealer Category II to conduct Money changing operations.Today, the company is one of the Largest Money Changers in the country inTerms of both volume and network. The company is engaged in the following activities. l) Buying and selling of foreign currency and its export 2) Issuance and encashment of major travellers cheques 3) Tours, Travel and International calling cards 4) SWIFT transfer Foreign exchange UAE Exchange & Financial Services Ltd was approved by the Reserve Bank of India, as a Full Fledged Money changer (FFMC), and then RBI elevated us into AD Category II status in the year 2006. Today, the company is one of the largest Money Changers in the country in terms of both volume and network. The company is engaged in the following money changing activities: 1. Buying and selling of foreign currency and travelers cheque

2. FCDD 3. SWIFT The company purchases foreign exchange from retail, bulk, from FFMC (Full Fledged Money Changers) as well as Authorized dealers. The purchase process takes place at branch level. The customers can directly approach a branch to retrieve Indian currency in exchange of the foreign currency held by them. Travel & Ticketing UAE exchange has Travel Division at the Head Office, Kochi by nameUAE Exchange Travel and tour Services. It commenced travel and ticketing operations in 2001 and it is accredited as an approved passenger Sales Agent by IATA, Canada (IATA Registration Number HO-14-3 5588). UAE Exchange Travel services provide domestic and international Air tickets for customers and renders assistance in getting Emigration Clearance/ Document Attestations, Passport application and other allied service. Gold Loan UAE Exchange has been successfully doing Gold Loan as value added service to their loyal and valuable customers from June 2008. The company is working hard on promoting this product through hoardings, banners etc due to heavy competition in the market

X trade We offer stock broking services to the investing public at very competitive rates. Today, The company is recognized
and appreciated for the inimitable service standards and quality assurance in the field of Share Trading services.



We are online with LIC of India to sell their select polices across our branches and have tied up with them as their Corporate Agents. We are LIC's renewal Premium Collection Centre for the public. We have also tied-up with Bajaj Allianz General Insurance Co and Reliance Insurance as the Corporate Agents for the sale of their General insurance policies. XPAY- Payment at your Fingertips XPAY is a revolution which is going to change the way payment and settlements work in India. It will be a milestone in the modern payment history. XPAY
is an RBI licensed modern payment facility introduced by UAE Exchange. It is a convenient, safe and secure method of making payment towards day to day purchases at merchant establishments like utility providers, shops and institutions where XPAY service is available.

3.1.4 Awards, Recognitions and Certifications UAE Exchange wins prestigious UAE Emiratisation Award. UAE Exchange, the leading global remittance company based in UAE, has won the Human Resource Development Award from the HRD Committee in the Banking & Financial Sector. Chairman of UAE Exchange, H E Abdullah Humaid Ali Al Mazroei, and Managing Director & CEO,DR. B.R. Shetty received the Award at a glittering function held at the National Careers Exhibition which opened in Sharja under the patronage of H H Sheikh Dr. Sultan Bin Mohammed Al Qasimi, member of Supreme Council and Ruler of Sharja.

The Award, established in 1999, is the UAE`s most prestigious UAE Emiratization Award for organizations in the banking and financial sectors. It focuses on recognizing organizations from the sectors for their efforts and achievements in the areas of Emiratization and
UAE National employment, training & development, and provides detailed independent feedback to all participating organizations to help them in their continuing Emiratization journey.

UAE Exchange has a comprehensive mechanism for the development of UAE Nationals which includes its popular internship and career development program, `Taaleen`, which provides opportunities for students to join the company for internship during which day will be provided stipend and a valuable work experience, which would arm them to jumpstart their career. Taaleen also provides the interns to gain as on experience in a diverse corporate work environment which includes 39 different nationalities. Taaleen is part of a continuing program called the `Al


Rehla`, which aims to establish and strengthen pro-active communication links of the company with various educational institutions in UAE; identify candidates through participation in all career exhibitions and events and campus recruitments programs; recruitment and staffing of Nationals who are selected and managing the compensation, with benefits and training environment for the candidates within the company. It also maintains constant rapport with various governmental and non-governmental departmental agencies in relation to its development.

IAMTN Award for Excellence. November 17, 2007 Our Managing & Director CEO Dr. B.R.Shetty was conferred with yet another prestigious award- The World Payments Award for Excellence- Top Manager 2007.The award was presented by The Rt Honarable Lord Lamont Lerwick at the 3r d
Global Consumer Money Transfer Conference 2007, conducted by the International Association of Money Transfer Networks(IAMTN), London. This was the first time IAMTN introduced this award and Dr.B.R.Shetty was named and honoured in the first year itself.

3.1.5 Business Performance Financial performance of some products of the organization Foreign Exchange Foreign Exchange witnessed a sweeping growth in the profit figures of Forex business in the financial year under report. The total profit of Foreign Exchange has risen to 48.56 crores, the volume of purchase in the fiscal year was around 3000 crore. There is a huge increase in the number of outward remittance and we have processed more than 30, 000 transactions in the financial year. The total retail and bulk sale volume stood at 3,005 crore in the financial year and the company is making steady growth day by day. Last financial year we exported 2677 crore worth of currencies to various overseas buyers. We are planning to add more overseas buyers in Australia, Qatar, and Oman in the next financial year.The company has laid a strong foundation in Forex business and is exploring opportunities of growth through SWIFT Transfer and FCDD. Xpress Loan UAE Exchange initially started Gold Loan at five branches in Tanjore region in 2008 on the basis of the NBFC license granted by Reserve bank of India. Today we are one among the most sought after loan providers in India offering convenient and reliable loan services to innumerable satisfied customers through almost all our branches.

The company's growth in gold loan business was 313% for the 2009-2010 financial year compared to the previous financial year. The income from this business has grown tremendously to 631% in 2009 -10. There is a huge potential for gold loan in our country and our company has a long way to go in this
of 23,352,632. business. In 2010-11 the total loan disbursement was 532,056,884 and we achieved a gross income of 36,356,252, and net income

The company plans to give full thrust and focus to the product in the current year and coming years. Taking gold as security, the
and business loan in the coming financial year. The company has extended the loan scheme to our own employees without taking any security, which helps to fulfill staffs emergency needs. The company is not charging any processing fee or other handling charges for the employees. Up to March 2011, 848 personal loans had been disbursed amounting to 26,379,970. company is preparing to provide education loan

Travels Tours In spite of the stiff competition faced in the

1yr ,the company has achieved stunning profit!

financial year under report. It reverberates the hallmark performance of the company and the total the total profit for the year2009-10 is 194.31 million rupees with agrowth of 11.92% compared to 2008-09. The annual turnover for the year 2009-10 is 170.05 crores, an excess of7.95% compared to the previous financial year.

XPAY The company got its license from the Reserve Bank of India under
the Payment &

Settlements Act 2007 to undertake the service of acting as Utility Payment collection centre for customers. Your company was one of the first to embark on this and take a license from RBI.

Thus we launched a new product called XPAY by which customers can top up their Mobile, pay their telephone bills, mobile bills, water & electricity
bills, DTH charges and various other monthly charges at our counters and it gets updated online. Once a customer is registered with us they can also pay for all these service.


Money Transfer Financial Year 2009-10 was a great year for Money Transfer of your company. We undertook massive network expansion by the addition
of banks, single agent location, and prate. It is indeed a pleasure to note that a record 10706 locations for Xpress Money and 5322 locations for Money Gram was made online. This shows a 78% growth in total addition of money transfer locations compared to the last financial year.

In the

financial year under report we made operational one of the biggest service brand of the

Country, Punjab National Bank for Express Money & MoneyGram, which has locations spread mainly in North India. In addition we also made operational Allahabad Bank for Xpress Money & MoneyGram and Corporation Bank for MoneyGram. Additional locations of United Bank of India & City Union Bank has also been made.

3.1.6 Strategic Plans Programmes and Long term objectives 1. About to start educational and business loan. 2. It plans to provide several value added services through xpay to its existing customers & also for new customers.
3. The trend of people traveling to many places overseas has been on the increase over the yrs so in travel & tours sector the company can earn great dividends.

4. In India there are no branches of UAE Exchange in Maharashtra. So there is a plan to open
branches there. 5. UAE Exchange is AD-II category. So they are trying for AD-I category, so that it becomes like any other bank. But they have to get the approval from the RBI.

3.2 ORGANIZATION STRUCTURE The organization structure gives a brief idea about the various departments and their interconnections.


3.2.1 FOREX DEPARTMENT UAE Exchange & Financial Services Ltd was approved by the Reserve Bank of India, as a Full Fledged Money changer (FFMC), and then RBI elevated us into AD Category II status in the year 2006.



Purcha se


Remittan ce





currenc y







Fig 3.2 : Forex department


3.2.2 IT DEPARTMENT The company has a full fledged IT Division for developing several major software projects for group companies and overseas clients.

Country Head

Head IT

System Administrat or


QA Division

Division Head

Project Leaders

Team Members

Programme Leaders


Branch Support

Fig 3.3 : IT Department Structure


3.2.3 ACCOUNTS DEPARTMENT The finance department has 22 staffs dealing with fund flow in various departments, audit assistance, solving tax related issues etc. this department is life blood of the entire organization. The entire department can be divided into 4 divisions: 1. Tax and audit 2. Funding 3. Reports and analysis 4. Anti money laundering


Payments & Receipts

Branch Support

Money Transfer Accounts

Expense Monitorin g

Manageme nt Accounts

Asset Monitorin g

Fig 3.4 : Accounts department structure


3.2.4 HR DEPARTMENT The human resource department at the U.A.E exchange is completely centralized. All the HR activities and functions are directed and coordinated from the HR head office in cochin. The department uses a HRMS to controlling and coordinating all HR activities.

Head HR

Recruitmen t

Staff Movement and Attendance

Training and Employee Exit

Statutory Compliance

Salary and Performance Managemen t

Fig 3.5: HR department


3.2.5 FINANCE DEPARTMENT The finance department has 22 staffs dealing with fund flow in various departments, audit assistance, solving tax related issues etc. this department is life blood of the entire organization. The entire department can be divided into 4 divisions: 1. Tax and audit 2. Funding 3. Reports and analysis 4. Anti money laundering

Head Finance


Reports and Analysis

Anti Money Laundering

Tax and Audit

Fig 3.6: Finance department


3.6 PURCHASE DEPARTMENT The expansion and facilities management duties are taken care by the purchase department. All the branches of the company are rented and its design, asset purchasing and repairing, development are done by the purchase department. The funds for the above activities are provided by the finance department. The purchase management software manages all the purchase related activities. Time, space and cost management is given importance in this department.

Head Purchase

Purchase and Approval Fig 3.7: Purchase department

Printing and Branding

Store maintenance


3.7 TRAVEL AND TOURISM DEPARTMENT A travel agency is a retail business, that sells travel related products and services to customers, on behalf of suppliers, such as airlines, car rentals, cruise lines, hotels, railways, sightseeing tours and package holidays that combine several products.

Head Travel and Tourism

Travel Documentati on Department

Accounts Department

Tour Packaging Department

DOMESTIC And International Air Ticketing

Fig 3.8: Travel and tourism department


3.8 BUSINESS DEVELOPMENT DEPARTMENT This department mainly focuses on widening the activities and operations of the company. It is divided into: 1. Corporate sales 2. Marketing activities 3. Customer care

Head Business Development

Corporate Sales

Marketing Activities

Customer Care

Fig3.8: Business development department



This explains the functions of various departments at UAE exchange. Every products of this company is interrelated therefore coordination is ensured between every department and apart from common department UAE exchange has got individual departments for its products. 3.3.1 Materials Procurement and Warehousing Since UAE exchange is a service industry it doesnt have any material procurement process but the foreign currencies collected from different branches by the pooling team( van with security people and staff to collect currencies) are sent to the export centers or warehouses for exporting.UAE exchange has two export centers which is located at delhi and cochin. 3.3.2 Operation Department The operations department consists of three sub departments namely -Accounts department - Finance department - Purchases department Accounts department It has five divisions namely: 1. Bank reconciliation 2. Money transfer a/cs 3. Management reports and expense monitoring 4. Receipts and payments 5. Branch support

Bank reconciliation

Bank reconciliation statement contains a complete explanation regarding the difference between the cash book and the bank statement. It is used by almost all business organisations because it is the important internal control mechanism of cash inflow and cash outflow. This division checks the status of the cheques has been cleared or not for both receipts and payments. Money Transfer Accounts This division supports the money transfer department in preparing the accounts. The accounts are prepared specially for the money transfer department in accordance to the RBI guidelines. Management reports This division monitors the expenses and checking whether the expenditure incurred by the company is within its provision and not amounting to losses. Then also it monitors the value of assets, determination of depreciation and replacement of assets. It also identifies the need for acquisition or disposal of fixed assets. Using management information system monthly performance reports, financial statements like profit and loss, balance sheet , income and expenditure analysis etc are prepared on both monthly and yearly basis to analyze the financial position of the company. The product wise comparison is done showing the income and expenditure of different products. For example: Income generation from money transfer is from xpress money payment, money gram payment, coinstar payment. Income generation from foreign exchange is from: trading income, income from swift transfer/fcdd, referral income-swift transfer, service charging on money changing. Apart from the product wise comparison, branch wise and regional wise comparison are also done. Therefore, management reports and expense monitoring does the following: 1. Prepare daily information on different products performance.

2. Fixed asset monitoring-purchase, sale, discard, transfer etc of assets and monitor credit sales. 3. Expense monitoring prepare budgets and check for variance and make necessary changes. 4. Unclear cheque follow up- uncleared cheques will go to one account and after verification necessary actions will be taken. 5. Money Transfer Accounts 6. This division supports the money transfer department in preparing the accounts. The accounts are prepared specially for the money transfer department in accordance to the RBI guidelines. Payments & receipts This division takes care of the receipts and payments of the organization. It takes care of the payments to the branches, corporate and customers as well as also takes care of the receivables with respect to the organisation. Branch supportAssist branches with their daily operations. Providing Support and assistance to the branches for accounting procedures. Basis of preparation The financial statements have been prepared to comply with all material respects with the mandatory accounting standards issued by the companies Accounting Standards 2006 and the relevant provision of the Companies Act 1956. The financial accounts have been prepared under the historical cost convention on an accrual basis.

3.3.3. Business development This department mainly focuses on widening the activities and operations of the company. its divided into:

1. Corporate sales 2. Marketing activities 3. Customer care Corporate sales The corporate sales division focuses on tie ups of the company with the big corporate to promote the companies products like forex, travel and tour etc as most corporate are bound to make use these services. The tie up will be according with the RBI guidelines and after verifying the MOU and certificate of incorporation of the corporate. The company already has tie ups with many trusts, IT companies, educational institutions etc. Marketing activities The company is focusing on online marketing and promotion through social networking sites like facebook and orkut by organizing many events and games to attract audiences. There are separate staffs assigned solely for online marketing. The company is also focusing heavily on the rural untapped market by sponsoring certain events and organizing promos. The timely and quality service is stressed during the promotional activities. Customer care The customer care division takes care of three main aspect namely: 1. Enquiry 2. Suggestion 3. Complaints The enquiry division takes care of the enquiries from the customers regarding their status of money transfer, tickets etc. The suggestion division conveys the suggestions of the top management. The complaints are also taken care by the department as and when required.

Customer Service is an integral part of your company's customer value reposition and we believe good customer service is all about bringing customers back. On an average, per day, 30000 customers visit our branches pan

India. Our

personalized approach towards each customer along with quick

the most customer friendly financial company. We take feedback and suggestions

from customers and make changes according to their preference wherever possible. All queries from customers are attended on time by an exclusive team and the required action is taken. We know that good customer service, over the time will bring in more new customers than promotions and price slashing ever did.

Agency Business Division This department takes care of development of agencies, expansion of agencies. It brings together a basket of products of the company for the customers at convenient locations. It develops various promotional measures for the dealers. lt helps in boosting the income of the company as more and more agencies add more business to the company. This division also takes care of the licence with the branches, agents and sub agents. Business Development Activities Apart from product related matters, your company focused on many business development activities in the financial year that brought the company closer and dearer to the common people. Notable among them are:PUBLIC SURVEY CAMPAIGN (JUNE/JULY 2009) The purpose of the campaign was to promote awareness about products and services, thereby increasing customer footfall in branches. A database of contact numbers of prospective customers was developed through this campaign. 150 outstanding branch staff were awarded cash prize & regional toppers were recognized through appreciation letters from Country Head.



The aim was to increase walk in customers to our branch through a lucky draw gift campaign that included 8 LCD TVs, 8 Refrigerators & 16 Mobile Phones. The 32 winners were awarded their gifts at impressive functions in the respective branches. CUSTOMER PROMO CAMPAIGN (DEC/JAN 2010) Another campaign was launched to promote customer awareness of our products thereby increasing branch retail traffic. Cash prizes worth five lakhs were distributed to 44 lucky winners. The company also has an innovative way of reaching out to customers through the promo van. We believe that reaching out to potential customers in nearby towns and villages is very important to enhance our business. Today your company has 15 Maruti promo vans in operation which has definitely increased the customer reach of our branches. Task Force teams are formed to hand hold the least performing branches in the region. The team comprises of performing staffs from other branches and they focus on converting potential business leads to deals. Product Promo Week was also organized every month where all branch staff focuses on promoting the selected product through business development activities. Your company also has a national tie up with Just Dial, one of the leading search engines, which use the platforms of phone, web & mobile to get leads. The contract covers over 200 cities and we are listed for foreign exchange, travel, and money transfer. This initiative has helped supplement the walk in to our branches. The company also has a tie up with two SMS providers, through which our branches can send up to 1000 SMS everyday promoting our products to prospective customers 3.3.4 Finance The finance department has 22 staffs dealing with fund flow in various departments, audit assistance, solving tax related issues etc. this department is life blood of the entire organization. The entire department can be divided into 4 divisions: 5. Tax and audit 6. Funding 7. Reports and analysis

8. Anti money laundering This division takes care of the various taxes which the organization has to comply with and all kinds of audit laws and procedures. This division takes care of all kinds of internal and external audit except AML audits. Tax and audit The tax division mainly deals with settling of service tax, income tax and also tax deduction at source. The audit division deals with statutory audit and international financial reporting standards (IFRS). Funding operation The funding operations divisions takes care of the funding process of the organization. This function is the allocation of the funds as working capital to the branches is on doing on the basis of the average past performance of the branch in the last 2-3 days, and also after calculating ROI for the branch. The funding is also based on the express money payments outstanding. Funding control The funding division is responsible for the control of flow of the funds in the organization. This division evaluates the flow of funds. It identifies the purposes for which the funds are being requested. It identifies the financial requirements of that particular project and finally authorizes the funding department to allocate the funds for the required project. This division also has the responsibility to monitor whether funds are also being used properly. Reports & Analysis Reports and analysis department takes care of preparation of various reports and analysis of these reports. Reports are prepared branch wise as well as consolidated reports on the organization overall performances are prepared by this department. This division evaluates the performances of the branches. It measures the actual performance against the targeted performance. The grading procedures of the branches are also undertaken by this division. Management reports are also prepared by this branch.

AML AML refers to anti money laundering division keeps a constant check on the company activities so that the company does not violate AML guidelines. As the company has obtained license under the authorized category II from the RBI, it requires that the company adhere to the AML guidelines proposed by the RBI. This division also takes into consideration the AML audits. The Prevention of Money Laundering Act (PMLA) was amended vide PMLA (Amendment) Act, 2009 and the same came into force with effect from 1.6.2009. The amendment has brought both the business of money changing and money transfer under the provisions of the said Act. Based on PMLA the staff at all levels are responsible for putting through the transactions in foreign exchange as well as money transfer is to have thorough knowledge of the (a) product (b) procedure and (c) the rules & regulations relating to the
same. The company had thus arranged for training exclusively in KYC/AML/CFT. To ensure the above and as per the stipulations of RBI, the company has a system of Concurrent Audit being carried out on a monthly basis by a team of independent Chartered Accountants. Apart from the above, the Company has also an independent Internal Audit Department which also carries out inspection of the branches on a monthly basis through its Regional Audit Heads/Inspectors. The irregularities/deficiencies noticed are reported to the branches concerned.

3.3.5 Human resource department HR- vision Developing, nurturing & inspiring the employees true potential to help them grow along with the company. To anticipate the employees needs & develop proactive, positive technique that will help them function as one team, one family. HR- Mission To identify the organizations competitive advantage and build, support & retain the right talents who are capable of delivering quality service to the company The human resource department at the U.A.E exchange is completely centralized. All the HR activities and functions are directed and coordinated from the HR head office

in cochin. The department uses a HRMS to controlling and coordinating all HR activities. The entire HR department is divided into 5 divisions namely: 1. Recruitment2. Staff movement and Attendance 3. training and employee exit 4. salary and Performance management 5. statutory compliances Recruitment policies and procedures U.A.E exchange strictly follows a direct recruitment policy and all the man power planning is done in this division.. The company is against using agents and other outside recruitment agencies as they believe it will reduce their chance of selecting and appointing the best suitable candidate as per the organizations specific needs. In order to attract suitable candidates the company gives out direct newspaper ads and also is registered with the countrys leading job portals. Specifying in particular about the qualifications and qualities required by the candidate for applying for the job mentioned and in some special cases even goes for employee referrals . Documents to be filled in by the potential candidate: 1. Pre appointment documents- Basic details of the employee, his qualifications and also his Expectations about the work and compensation. 2. Post appointment documents Joining booklet- Statutory guidelines to be followed by each employee and other details of various employee benefits like PF, bonus etc. Reference booklet- A booklet where every candidate is asked to give two reference from the HR heads of previously worked companies and submit it within 1 or 2 weeks of appointment. Recruitment & Selection


The whole process in recruitment is systemized. The strength of a branch is determined by the level of a performance of that particular branch or from the level of surplus or business brought in by the branch. The ideal strength of a branch or department is predetermined and fed into the system. As and when a vacancy situation arises the system automatically sends alert messages to the HR department as well as the concerned Branch or department. Thus system triggers the recruitment process. External recruitment When the company has to recruit in cases of urgency a direct walk in interview is conducted and the candidate is selected on the basis of his credentials and his performance in the interview. Internal recruitment Internal recruitment includes promotion /demotion of employees within the organisation. Internal recruitment helps in reducing time and cost of external recruitment. lt helps to stimulate motivation among the existing employees, thus serves as a means for career development. Employee Referrals Employees are also allowed to suggest names of their friends whom are eligible for a vacant situation. Selection process 1) initial screening . On the receipt of resumes, if the candidates satisfy the criterias they are called in for an initial screening interview. Candidates is shortlisted from this are called in for a comprehensive interview. 2) Comprehensive interview . Candidates selected from the initial screening are called in for a comprehensive interview and through this the skills and talents of the candidate are identified. 3) Final employment decision

Final employment decision is taken by with the approval of the country head of the organization. Staff movement and Attendance Staff movement basically means tracking of the employees within the organization. It involves the following: Transfer: a. Normal transfer b. transfer on request c. deputation d. Deputation for training Normal transfer: Transfer of an employee when there is an opening in a branch or if a specific branch requires the expertise an employee.

Transfer on request: A transfer request Is placed by the employee to the HR head and country head requesting him to transfer to a branch of his choice provided that there is opening in the branch requested. The employee is supposed to give a 1 st, 2ndand 3rd choice of branches in order of preference.

Forms of transfer: -Branch in charge to Branch in charge -transfer with promotion -punishment transfer Deputation:

Hiring on temporary basis, when there is shortage of employee in a branch. In case of deputation the hiring branch is benefited.

Deputation for training: Employee send to a well performing branch for training and improve his knowledge about the product in which he deals. In case of deputation for training the parent branch is benefitted. Attendance tracking Attendance is monitored through fingerprint and signature .Finger prints of all employees in a particular branch or department is scanned and uploaded into the system. The system scans the fingerprint and verifies it with the stored with the respective id code. Once verified, the system automatically updates the presence of the employee in the organization. Leave There will be l2 casual leaves and 12 sick leaves are allotted to an employee in a year on , thus every employee is credited with 3 leaves a month which also includes an earned leave. Grace period- 5 minutes everyday for reporting to work. Every month 3 times to a maximum an employee can be late to work. Maternity leave for 84 days. Leave duration and permission required up to 3 days branch head upto 7 daysregional head upto 14 days- HR head more than 14 days country head , every employee is permitted each month for 1 casual leave, sick leave and earned leave. Attendance marking is through finger scanner. Training Self-learning program (slp) Its given to employees with minimum 1 months of experience. After this they are given phase 1 test covering all the basic information and working of the company, the employees can take the test to a maximum 3 times.

After they pass the initial phase 1 test they get a general idea about the company and they are allocated products like gold loan, forex etc as per their area of interest and sent to well performing branch and is undergone training under a experienced employee for a period of 5 day. And for poorly performing existing employees a 3 day training is arranged and different strategies are taught on how to achieve the target. The company previously followed a class room training pattern but was stopped as it was proven ineffective as it was not product specific. The phase 1 test and the specific product test for forex, travel and tour, gold loan etc will be conducted under the strict supervision of the auditors. The company is planning to conduct a security measures and internal control (smic) test which includes manual of instructions and rules to be followed by each and every employee of the organization. Salary and performance management This division mainly deals with staff appraisal, remuneration and promotion. A total of 4 staff works in this division. In order to be eligible for promotion an employee should complete 1 yr at the company and fulfill the following conditions: 1. The branch in which the employee is working should have year on year growth. 2. The branch should achieve the targets set by regional head on a regular basis.

The productivity is measured by an application called power. Based on previous performance the company target is divided to different regions and the regional heads splits the target to different branches and finally the branch target is divided into different employees based on the product in which they deal and its performance in the branch. If the employee achieves target its said he has achieved power. Every staff is evaluated by their immediate head and quarterly the entire staffs are evaluated by the branch head, the evaluation is automated. During evaluation the staffs are ranked on the basis of following parameters: 1. Punctuality

2. Productivity 3. Customer service 4. Effective communication After evaluation the branch head reports to regional head and discuss with the country head whether to promote the employee or not. Therefore, performance management mainly deals with promotion and evaluation. Salary On the 3rd last working day of every month salary will be sent to the employee bank account after the statutory deductions. For example if a month has 31 days, the salary will be generated on the 28th for the entire month and the loss of pay will be calculated. When the salary is generated on the 28 th, 4 days salary will be considered as an advance and any addition or deductions necessary for this period will be looked into in the next month.

Salary calculation Basic salary40%

Dearness allowance- 10% House rent allowance-30% ConveyanceCity compensationGross salary10% 10% 100%

Some of the additions and deductions to the salary are the following: Additions:


Professional assistance fees- a maximum of rs5000 only for senior staffs.Officiating allowance- given only to performing branches, branch head and assistant branch head are given rs1000 and rs500 each respectively. Lead branch allowance- given only to branches which achieve their targets and allowance divided on the basis of designation. Wedding gift- employees who completed 3 yrs in the company will be given a wedding gift on their wedding the gift will be an amount equilent to their 1 month salary. Bonus- a statutory bonus of 8.33% is given and it varies according to designation and profits of the company. Deductions: Income tax- for employees whose annual salary exceeds rs160000. Professional tax-its calculated in two periods that is, from April -September and October and March. An employees basic salary+ D.A is calculated and tax is charged if it crosses a particular slab fixed. It varies from state to state. Provident fund- basic salary+ D.A is calculated and 12% of it is deducted and collected in a fund, the company will contribute 13.16% of the employees basic salary+ D.A towards his/her P.F. Employee state insurance corporation (ESI)- this scheme is applicable to employees whose monthly salary is less rs15000. From the employees monthly salary a 1.75% deduction is done and the company will contribute a 4.75% of the employees salary towards ESI. Hostel fee- an amount of Rs 200 is deducted only from administrative office members. Labour welfare fund(only in Kerala)- every month rs20 will be contributed by the employee and the company, that is a total of rs40 towards labour welfare und. Express loan- employees who have completed 1 yr in the company can avail personal loan 6times their gross annual salary for an interest of 18% per annum to a maximum

of 3yrs. And the interest amount will be deducted monthly from the employees monthly salary. Other recoveries- if any employees is given any allowance which is more than required it will be recovered back from their salary.

Statutory compliances: It is very important to follow the statutory compliances for the smooth functioning of the company. The primary objective of this division is to protect the policies of the company. It deals with labour related laws as mentioned by the central and state government, it is the duty of every company to look into the welfare and protection of their employees such as their working time, salary, age restrictions etc. The statutory acts can be divided into central and state act: 1. Central act- under this act comes employee provident fund act(EPF), which deals with provident fund, life insurance fund, employee pension scheme and employee state insurance act(ESI), national holiday act and minimum wages act. 2. State act(Kerala)- the state act mainly deals with shops and establishment act, and state holiday act.

E.P.F act- The Company is registered in the kaloor P.F office and a code number is given to the entire company and each and every employee. If the basic salary and dearness allowance of the employee comes at rs6500, the employee will be enrolled into EPF scheme. 12% of the basic salary +D.A will be cut from the employee salary and 13.16% of basic salary and D.A will be contributed by the company. The 13.16% contribution of the company is toward the following: 1. Pension fund- 8.33%

2. Provident fund-3.61% 3. Administrative charges- 1.10% 4. Employee deposit linked deposit scheme-.5% 5. Total- 13.16%

The companies need to maintain their P.F a/c with the central government P.F department for a period of 10yrs. If employee gets transferred from the company to another the employee can either withdraw the P.F amount or transfer it. E.S.I act- it mainly deals with the medical claims of the employee. Employee state insurance corporation (ESI) scheme is applicable to employees whose monthly salary is less Rs15000. From the employees monthly salary a 1.75% deduction is done and the company will contribute a 4.75% of the employees salary towards ESI. The company can register itself with the E.S.I and furnish employee details either online or manually. The company should have a minimum of 20 employees and in case of a factory a minimum of 10 employees is required for to be qualified for E.S.I scheme. The employees parents and unmarried sister can claim for medical expenses to maximum of rs1000000. In case of maternity leave taken by employee, a maximum of 84 days salary will be given under E.S.I scheme and will be considered as loss of pay for the company. Minimum wages act-for all designations a minimum wage will be set by the fair wages committee and concerned labour officers and it varies for different regions as per the cost of living index of that particular area fixed by the statistics and economics department. The tax returns are calculated every 6months and according to payment of wages act the wages have to be paid by the 4 th of every month for companies with employees less than 10000 and by the 7th of every month for companies with employees more than 1000 . Shops and establishment act- which deals with salary of each employee and when it is to be given, procedure to be followed in case of a fraud, employee leave, working

environment etc. A card will be given to every employee who enrolls as a member and need to be renewed periodically. National and state holidays act- as per this act January 26 th, may 1st , august 15th, October 2nd have to be compulsorily made holidays whereas as per state holidays act 9 holidays are to be given covering various festivals and auspicious occasions. Earned leave enhancement- Sick leave and earned leave after reaching a maximum of 48 days can be encashed later when required but casual leave cannot be carry forwarded. Gratuity- its a gift to the employee for his loyal service. Given to employees who have been with the company for 5 yrs and its only once. Calculation=basic salary +D.A* years of service *15/26. Bonus- it is of 3 types productive, seasonal and festival. bonus can be given only after 5yrs of commencement of business. A bonus of 8.33% of the basic salary + D.A*number of working days amount is given as bonus and is restricted to a maximum of 20% or rs 10000.

Employee exit When an employee request to leave the organization all his login access to the company database will be blocked. Only employees who have completed 1 year at the company only is given the certificate of experience and employees who leave the organization before the completion of 1 year have to surrender their 1 month salary. The employee is asked to give a 1 month prior notice before exiting the organization and the whole exit settlement procedure will take 2 weeks. The employee is given a check list and has to fulfill all the conditions in the check list which includes his work and bank details, any loan outstanding, and any possession of key, product dealing settlement. For example- an employee dealing with forex will be checked whether he is in possession of any foreign currency.

The employee will have to undergo an exit interview covering details like reason for leaving the organization, the relationship between the employee and company, whether there was any remuneration problem etc. These details are used to further improve the overall working of the organization

3.3.6 Purchase department (interior and infrastructure) The expansion and facilities management duties are taken care by the purchase department. All the branches of the company are rented and its design, asset purchasing and repairing, development are done by the purchase department. The funds for the above activities are provided by the finance department. The purchase management software manages all the purchase related activities. Time, space and cost management is given importance in this department. It has four divisions namely: 1. Purchase and approval 2. Printing and branding 3. Dispatch and store maintenances Purchase and approvalThe company follows a centralized purchase policy, that all purchases are approved from one purchase office. Whenever a branch needs any bulk purchases to be done, the branch informs the purchase department and calls for quotation from the vendors. The approvals are done based on two factors, the vendor which quotes the lowest price and who has servicing and dealership all over India. This division takes care of the interior layout of the organization. The design, layout and appearance should be common to the global standards of the organisation. This division aims at providing a unique environment to the customers. The division has devised a unique pattern for the branches which is similar to its global pattern. The ambiance and the environment a customer receives at any of the branches will be same the designs are created using. All necessary infrastructural work, Carpentry,

Electrical, and civil works pertaining to the organizations undertaken by this department. The division also has the authority to contract construction works. Printing and brandingAll printing works of the company are given to a single company as bulk order unless printing of brochures in regional language is which case it is given to a local press. All printing including the product brochures, annual reports, financial statements and RBI norms. And for branding, all the sign boards and hoardings are given localized orders and only when the photos of these sign boards and hoardings are sent to the purchase department the final settlement is done. Dispatch and store maintenance This division takes care of the companys day today posting, courier despatch. The companies advertising and promotional materials such as posters, banners, Broachers, take away etc. This department also undertakes creative communication i.e. designing of banners, posters sign boards etc. The main activities involved here is volume control of various print materials, promo items and their adequate storage. The print materials required by various branches across the country are sent from this division accordingly through courier and for this purpose the company has tie ups with 14 major courier companies. The company has around 200 different printed materials. The telephone connections and internet connections at all the branches are also handled by this department. The company avails corporate plans from the telephone and internet providers for availing efficient offers.

3.3.7 IT department IT ENABLED SOLUTIONS The company has a full fledged IT Division for developing several major software projects for group companies and overseas clients.

Job specifications HEAD IT Assigning of project(s) to Division Heads and allocating team members in the project with the consent of Analyst/designer. 1. Member of Interview panel. 2. In-charge of Day to day office administration activities of the department and reports to Country Manager. . 3. Conduct meeting of department with system analyst/Division heads/Project leaders to discuss and suggest the areas of improvement in the division and report to the Country Head. 4. Sanctioning of Leave requirements of staffs. 5. Staff Evaluation and appraisal. 6. Running of Scripts/Procedures and Upload all types of file in LIVE server whenever required after it has been tested and certified from QA Team. 7. Overall Administration of web, application and database servers and authority 8. To approve of all system, db logs and manual register maintained for IT.

System Analyst. 1. System Study, design and implementation of each project under their Division 2. Member of Interview panel. 3. Addition/Modifications to existing application based on the client requirement. 4. Some of them are identified to function as the Database Administrators as well. 5. They report to Head of the Department as well as country manager for any clarification.

6. Conduct meeting of division with Division head/ project leaders/Team 7. Members to discuss and suggest the areas of improvement in the division and report to the Head IT 8. Verify and check the CVS Register. 9. Running of Scripts/procedures in LIVE server whenever required.

System &Network Administrator 1. Upload the files to LIVE server after testing process done by QA Team and 2. Inform the same to the concern at IT. 3. Running of Scripts/Procedures in LIVE server whenever required. 4. Backup of all databases 5. Overall in-charge of server Room. 6. Maintenance of the Web server, Application server and DB servers. 7. Maintain the Server room Access log. 8. In-charge of Network administration.

System Designer 1. System Study, design and implementation of projects under their Division 2. Member of Interview panel. 3. Addition/Modifications to existing application based on the client requirement. 4. They report to Head of the Department.


Division Heads 1. System Study, coding, Testing (basic), Implementation of new / existing projects. 2. Training to juniors and new recruits 3. Allocation of work to Project Leaders and Team members. 4. Addition/Modifications to existing application based on the client requirement. . 5. Those working as Senior Software Engineer and above 2 years experience in IT field or relevant field will be considered as Division Heads. 6. Maintains the CVS of all application. 7. Maintains register of files checked in and checked out. 8. Ensures the authenticity of files checked in especially in case of new files.

Project Leaders 1. Coding, Implementation of projects. 2. Addition/modifications to existing application based on the client requirement. 3. Those working as Software Engineer and above 1 year experience in IT field will be considered as Project leaders

Team Members 1. Coding, Implementation of projects. 2. Addition/Modifications to existing application based on the client requirement 3. Preparation of Requirement Change Specification and System requirement 4. Specification for new projects


Technical Writers 1. Documentation (Technical) 2. Preparing User Guidelines 3. Keeping minutes of meeting with Project Owners/Dept. heads.

Programmer Trainees 1. Undergo training under a Division Head or above designation. 2. Can do maintenance of the existing application under the guidance 3. of Division Heads or System Analyst or Designer.

Testing In Charge 1. Liaisoning with Division Heads/Project leaders to clarify the process flow and assigning the projects to the tester with the documentation. 2. Check and verifies the required documents confirming the check list. 3. Conduct meeting of testing division with HEAD-IT/system analyst/Division heads/ project leaders to discuss and suggest the areas of improvement in the division. 4. Monitor the preparations of test plan and related documentation. 5. Send the filesto System administrator to upload the files after testing and issue the test certificate. 2. Testers

before testing the files also

1. Prepare test plans and reporting to Testing In charge and based on test plan 2. Testing is being conducted and recommend for the test certificate 3. laisoning with team leaders along with testing in charge for clarifications in work assigned. 4. Branch Support 5. Frequently interacting with the client about the feedback of the applications. 6. Rectify the errors/bugs reported by the client with the help of programmers. 7. In charge of software Training to user and give proper guidelines as and when required.

Quality Assurance l) Developer sent the work with RCS/ SRS signed by System Analyst/ IT head/DH. 2) QA Team will approach developer and will have an interaction with them about: a. Existing work flow What is the existing work flow? What is lacking in this flow? How was this flow affecting application? b. New Work Flow What is the new work flow and who requested (work sheet)? Who attended the initial level meetings/interaction? Will this new flow rectify the issues mentioned in the existing flow?


c. Changes Existing Vs. New What is that changed? A new screen? /Business flow? Menu? d. Impact that will happen to the system, business by bringing in the change? 3) QA Team will start doing testing after noting down the above mentioned points 4) Major issues will be sent back to the development team for rectification 5) Print out of initial discussion, bugs found and rectified and issue the test certificate(in the same page) will be filed along with RCS. 6) The project once made live, will be checked by the tester on the live server, after intimating the developer/D.H. 7)System & Network administrator Upload the files send by Testing division to the LIVE server and inform back to the developer /QA TEAM/ANALYST and ITHEAD over e-mail, Scripts, procedures and creation of war files will be done by system& network administrator and inform the same to the concern at IT over e- mail. Meetings The meetings can be called by Country Head/Department heads/division Heads/AO staffs/Regional Heads /Branch Heads and the same can be attended by all concern in IT even the Team members or programmer trainees. The minutes of such meetings should have to be logged by technical writer. SDLC (Software Development Life Cycle Inhouse projects) Step 1: Clients discuss requirements with IT Head / System Analyst/Division Heads. (Here on refereed as SA and DH). Based on the discussion SA/DH arrives with a work plan. Updating the status in the IT management software i.e. Step 2: KT will be pass to Project Leaders/Team Members by SA/DH based on the Work Plan. Step 3: SA/DH prepares

1. Table Design and 2. Data flow diagram. Step 4: PL and TL prepares Work Request Form (WRF). Signed duly by Client, SA/DH and IT head. RCS/ SCS . Step 5: The above are submitted to IT HEAD for approval. The discussion will be held with Division Head and TL and recommends modifications, if any. Step 6: IT HEAD/SA/DA consults with the client or the concern appointed by client for a final discussion on the work and gets the Changes suggested and acknowledgement through e-mail or notice. Step 7: Sends the same to Country Head of UAE Exchange for approval. Step 8: Development by Development Team monitored by team leader under the leadership of division head. Step 9: Code Revisions and standards checking. Step 10: Demo to IT Head, Client, Testing Division and Dept. Head. Step 11: Changes suggested will be incorporated after the demo. Step 12: Testing will be done by Quality assurance team and corrections will bed one through the Development team. QA Issue the Test certificate after the final testing. Step 13: Documentation and User Guidelines. Step 14: Final Demo to IT HEAD, Client, QA head and Dept. Head with all document. Step 15: Making online the work and updating the Source code in CVS register. Step 16: Collecting feedback from the client.

3.3.8 Money transfer department Introduction to Money Transfer Instruments


Xpress Money Is a service brought to you by XPRESS MONEY SERVICES LTD, a London based company. Xpress Money Services is an associate of the UAE Exchange Centre LLC, a member of the nmc group of companies. UAE Exchange Centre is a pioneer in the field of retail money transfer business with over 20 years of experience in this field. Over the years it has built up a correspondent network of over 80 banks globally. It is totally customer focused and technology oriented. It is one of the first exchange houses around the world to be a part of the SWIFT network. It was also the first to introduce the remote draft printing facility and the Instant Money transfer system, the highly successful precursor to Xpress Money.

Money Gram The company has a global reach through our network of 180,000 local agents across 190 countries and territories giving customers real convenience and flexibility. So with Money Gram customers are never far away from a fast and easy money transfer. Advantages Its quick your money is where its needed in just 10 minutes Its convenient with 180,000 money transfer agents around the world, your never far away from Money Gram. Its available to everyone you dont need a bank account or credit card. Its easy just visit a Money Gram agent and complete one simple form. Its personal--- you can add a complimentary 10 word message.

Documentation Division This division takes care of all the necessary documentations processes of the customers. According to KYC norms and guidelines, it is mandatory that the company should keep all the detail of the parties who are entering into foreign exchange transactions. They also take care of all the documentation process for development of

agency business. For acquiring the agency of UAE Exchange the following documents have to be submitted Identity proof Location of business Net worth of the firm Photographs Agreements

Activation Division Activation division takes care of analysing the location and activation of that specific location, pertaining to the money transfer. Once the location is activated people can transfer and receive money from the location. XM Division XM division takes care of all the necessary activities regarding the Xpress money and assists the branches and the customers in any issues arising. lt acts as a complete support system for express money transactions. This division also helps and supports agents in their problems while conducting the business transaction.

3.3.9 Foreign exchange department Spot A spot transaction is a two day delivery transaction. This trade represents a "direct exchange" between two currencies, has the shortest time frame, involves cash rather than a contract and interest is not included in the agreed upon transaction. The data for this study come from the spot market. Spot transactions have the second largest turnover by volume after Swap transactions among all FX transactions in the Global FX market. Forward

One way to deal with the foreign exchange risk is to engage in a forward transaction. In this transaction, money does not actually change hands until some agreed upon future date. A buyer and seller agree on an exchange rate for any date in the future, and the transaction occurs on that date, regardless of what the market rates are then. The duration of the trade can be a one day, a few days, months or years. Usually the date is decided by both parties.

Future Foreign currency futures are exchange traded forward transactions with standard contract sizes and maturity dates for example, $1000 for next November at an agreed rate Futures are standardized and are usually traded on an exchange created for this purpose. The average contract length is roughly 3 months. Futures contracts are usually inclusive of any interest amounts.

Swap The most common type of forward transaction is the currency swap. In a swap, two parties exchange currencies for a certain length of time and agree to reverse the transaction at a later date. These are not standardized contracts and are not traded through an exchange. Option A foreign exchange option (commonly shortened to just FX option) is a derivative where the owner has the right but not the obligation to exchange money denominated in one currency into another currency at a pre agreed exchange rate on a specified date. The FX options market is the deepest, large stand most liquid market for options of any kind in the world.


Forex Purchases This division deals mainly with purchases of forex. They purchase of foreign exchange in the name of UAE Exchange &Financial Services Limited. The company purchases foreign exchange from retail; bulk, from FFMC (Full Fledged Money Changers) as well as Authorized dealers. The purchase process takes place at branch level. The customers can directly approach a branch to retrieve Indian currency in exchange of the foreign currency held by them Retail On retail basis purchases are made from individual customers such as NRIs, Tourists, and people who have foreign currency in possession and would like to exchange it for Indian Rupee. This is mainly from people who have returned from abroad as they are allowed to carry cash equivalent to $2000 USD and the rest amount in the form of foreign exchange instruments like travellers cheques, currency cards, Foreign Currency Demand Drafts (FCDD). All purchases are made in the name of UAE Exchange & Financial services limited. The company purchases only three kinds of foreign exchange instruments. They are: 1. Foreign Currency (Currency in cash), 2. Travellers Cheques 3. Foreign Currency Demand Drafts. The company purchases forex from any institution which receives foreign currency in bulk. E.g. the hotels sometimes receive payments in foreign currency, the bill for medical treatment of foreign patients are made in foreign currency. Bulk The company purchases forex from any institution which receives foreign currency in bulk E.g., the hotels sometimes receive payments in foreign currency , the bill for medical treatment of foreign patients are made in foreign currency.


FFMC Full- fledged Money Changers are institutions under the licence of RBI who undertake foreign exchange transactions. AD RBI issues licenses under sec l0(l) of FEMA to persons to be known as Authorized Dealer, Money Changer, off shore Banking Unit(OBO) and they are all collectively known as Authorized persons, Further, RBI has sub divided Authorized Persons as Under. a) Authorized Dealer category I- Banks Authorized to deal with foreign exchange business irrespective of current account/ central account transactions. They include public sector Banks as Well as banks in the Private & co-operative sectors. b) Authorized Dealer Category II- Permitted to handle non-trade related current account transactions as specified in the license c) Authorized Dealer Category III- Financial Institutions such as EXIM Bank, SIDBI and factoring services etc who have been authorized to dealing in foreign exchange transactions relating to their activities. d) Authorized Money Changers category IV- Full Fledged Money Changers who are authorized to purchase foreign purchase foreign exchange also going abroad for private & for business purposes. Forex Sales Sale of Foreign Exchange Scope of License

As per the conditions of license, we are permitted to release foreign exchange only for non-trade related Current Account transactions specified in this licence. The various purposes for which we can release remit foreign exchange is as under1) Private Visits 2) Business Visits

3) Education 4) Medical Treatment 5) Emigration 6) Employment 7) Film shooting 8) Remittance by tour operators/ travel agents/ principals/ Hotels 9) Fee for participation in global conference & specialized training 10) Remittance for participation in international events/ competitions 11) Disbursement of crew wages 12) Remittance to overseas universities under educational tie-ups 13) Remittances towards fee for exam held in India & abroad along with additional score sheets for GRE, TOEFL etc 14) Skills/ credentials assessment fees for intending migrants 15) VISA Fees 16) Processing fees for registration of documents by overseas govt. I U 17) Registration/ Subscription/ Membership fees to International Organizations Eligibility - Resident Indian Citizens - Foreign nationals permanently resident in India Currency Component Persons going abroad for various purposes have the options to carry currency in the form of currency notes, Travellers cheques, World currency cards, DD on ones own name, Currency notes are restricted to an amount of USD 2000. Payment

In case of sale/ release / remittance of foreign exchange, the rupee value has to be received either in the form of cash and by way of cheques/ pay orders/on credit/ debit card. Confirmation of Third Party Payments In case of payment of the foreign exchange is made by third party i.e, a party other than the purchasing party a letter of confirmation as per the prescribed Performa, should be obtained from such third party/ parties along with their identity documents preferably PAN cards. This is also mandatory for KYC and AML angle. Rates of Exchange The forex market is a volatile market. The rates of foreign exchange vary from place to place and also from time to time they are also market determined i.e. the rate for a particular currency depends upon it demand and supply. One of the conditions of the licence granted by RBI is that purchase / sale of foreign exchange should be at market determined rates of exchange. The company has a system of quoting rates on real time basis i.e, based on inter- bank rate, the rates are updated from time to time by dealing room. Quoting Rates Prices are quoted on the basis Return on investment. Forex markets are very competitive. The rates offered by the company compares well with that of the competitors. Discounts are provided to customers. Additional discounts are also provided to customers on the basis on volume of sales as well as regularity of customers. The following are the Foreign exchange Instruments sold by the company a. Currency Currency refers to foreign currency in cash. Currency is restricted to $2000 USD per person or its equivalent in any currency.

b. Travellers cheques

These are required due to the following reasons. Restriction in taking out foreign currency notes in excess of $2000 USD Travellers choice / Preference for safety The company stocks American express banks TCs in all available denominations. Amex TCS have worldwide acceptance with encashment facilities all over the world. TCs are safe, convenient and have no expiry date. Amex provides for replacement for lost/ stolen from all outlets and from selected outlets of other money changers / agents.

c. Cards The following are the examples of currency cards: a) Store Value Cards b) Charge cards c) Smart Cards W d) Travel cards e) World currency cards f) International debit cards These cards fall a substitute for cash. They can all payments can be made through these cards. These cards have validity for two years. During the validity period these cards can be reloaded any number of times. The company has tied up with IDBI and ICICI banks to sell their card


FCDD These are demand drafts in foreign currency drawn ion banks abroad and also payable abroad. It is used for remittance of fees, medical treatments abroad etc. Swift SWIFT stands for Society for Worldwide Inter Bank Financial telecommunication. Through this medium Fund are transferred from one bank of the remitter in one country to the bank account of the beneficiary in another country. SWIFT was established in 1973 by European Banks for more efficient & secure communication of transfer of funds. Securitized Membership of SWIFT is open for all Central Banks of the countries & Banks and Financial Institutions recommended by such Central banks. Exports The UAE Exchange & Financial services limited exports excess currency which it has procured from the customers to its place of origin or the parent company. For this purpose the company maintains three Hubs across the country situated mainly at Cochin, Chennai and Delhi. The excess of currency withheld by the country is collected at each of the hubs. The process is called pooling of funds. The hubs after pooling the funds, export it to the parent country at the prevailing exchange rate. Dealing The dealing division undertakes the crux work of the forex department. All the activities of the forex department are dependent on this Department. The efficiency of the department depends on this division. The main function of this division is to deal and fix the forex prices for the commodities. The prices are fixed on the basis of ROI. This division, 1. Sets forex rates, enforcement of transaction 2. Settling customers transactions 3. Responsible for the profits or losses of the company. 3.3.10 Travel & tours department

A travel agency is a retail business, that sells travel related products and services to customers, on behalf of suppliers, such as airlines, car rentals, cruise lines, hotels, railways, sightseeing tours and package holidays that combine several products. Travel Agency--Travel agency is the link between the customer (tourist or traveler) and the principal supplier (hotels, airlines, transport companies). It is the first step for anyone considering travel. The primary job of a travel agency is to provide enough information to the tourist so that the tourist is not cheated during his or her travel. Travel agent--He is a person who has full knowledge about tourist product, modes of travel, destination, climate, accommodation and other areas of service. He acts on behalf of product supplier and in return gets commission. Technically, a travel agent is the owner or manager of agency. A travel agent may be an individual or a firm or corporation, which is commonly known as travel agency. 1. Travel agency perform the following functions 2. Provision of travel information 3. Liaison with providers of services 4. Preparation of itineraries 5. Planning and costing tours 6. Quotes fares, rates and schedules 7. Make reservations 8. Arrange travel tickets and accommodation 9. Arrange travel insurance and foreign currencies 10. Accept payment of travel Source of income 1. Commission earned from ancillary services such as issue of travellers cheque, foreign exchange etc

2. Profit from the sale of various tour packages 3. Commission earned from the sale of different hotel rooms and home stays. Many domestic tourists book only the accommodation units in various part of the country. Normally a travel agent earns up to 10% commission from the sale of accommodation units 4. Commission earned from the sale of cars of the car rental companies 5. Service fee charged from the customers for the various services provided like passport submission, visa stamping etc 6. Service fee charged for the sale of Indian Railway tickets Travel Agency Linkages A travel agency maintains close ties with may allied travel providers. Travel agency cannot stand on its own legs. It needs supplementary help. In order for a travel agency to work it need close ties with some others organization. They collect the products made by these company, Then the combine it to form the ultimate product. So the relation with such organization is essential for the existence of the travel agency. 1. Airlines IATA operates a network by which travel agency sell airline ticket and receive commission on the sale of airline tickets is highly regulated and strictly controlled, the agency commission ranges from 5-ll%. But most airline offer additional cash incentive. In some cases travel agency sells air ticket of a particular airline in bulk, the margin of commission will be very high. 2. Accommodation companies Most hotels and lodging companies pay commission to travel agent for promoting and selling their hotel room. The rate of commission varies from hotel to hotels. Many hotel claim participate in CRS (Computer Reservation System) permitting hotel reservation to be made at same terminal used to sell airline tickets. The commission received from the hotel is the second largest component of the total travel agency revenue. 3. Cruise Companies

The cruise company are regulated by own governing body, ie cruise liners association which must approve any travel agency that desires to sell booking on behalf of any of the cruise company. The cruise company offers a complete package including sea travel, food entertainment and sometimes even air travel commission varies from 1O2O% for the travel agency. 4. Insurance Company Many travel company included travel include travel insurance into array of production. Insurance policies protect travelers against accident loss of luggage. Insurance companies give 2O to 3O% commission on insurance policy on travel Company. 5. Banking companies: Travel agency offer banking facility to travelers like clearance of travellers cheque and arrangement of foreign currency. Only those travel agency, which are authorized by RBI under (FERA 73) can deal with foreign currency. Banking companies give commission to travel agency on travelers cheques and currency exchange. 6.. Education Institution: An agencys success depend entirely on the competence of Management and enterprises of the staffs. It develops man powers planning in such a way that it conducts campus selection and match the students to the requirement of the company. 7. Travel Trade Association: It provide a format platform to solve many problem of the members such as airline commission, code of conduct, training. There are a number of travel trade association like TAAI, IATA, PATA. Divisions 1. Domestic & International Ticketing:

The main functions of domestic and international ticketing departments are as follows:


Counseling Service Reservation Confirmation Issuing Ticket Cancellation

2. Travel Documentation Department: Passport: A passport is an official document issued by a government identifying an individual and granting that travel permission to travel abroad and requesting the protection of other Government for the person. Health certificate: Another formality that needs to be completed is to check whether vaccinations are required to protect travelers health. Traveler arriving from a infected area normally required to prove that they have been vaccinated against specific disease. Tax The travel information manual provide information on departure taxes as follows: a) Name, type of tax and amount b) To whom it applies c) Conditions of application d) Place of payment Custom The main reason that countries impose custom duty is to protect local manufacturers, try charging taxes out of imported goods becomes less attractive, this encourages people to buy locally manufactured goods.

Visa Some countries require that citizens of other countries obtain a visa prior to arrival in their country. This is normally a bilateral agreement between 2 countries, which assist immigration authority to know who & how many visitors are likely to arrive. Travel Insurance All traveling abroad are strongly recommended to carry travel insurance Most insurance company offer a Travel insurance for traveler much after comes for most likely contingencies that may occur. 4. Accounts Department Accounting involves recording, classification and Summarizing the accounting information directed towards the determination of financial strength and weakness of a travel agency. To manage a travel agency profitably demands accurate recording and preparation of financial statements. These are essential in determining the true and fair status of business and for making strategic plans and decisions. 5. Tour Packaging Department Another Important part of a travel agency tour package department. This is the more profit making department. Travel agency may combine the different tour products and they form a single package tour and sell to the group of individual at a mark up price. Domestic Tour Package Domestic Tour package are those which include all types of tour components into inclusive tour and sell it to the domestic Travelers. This means then the tour offered to the travelers in the home country. The tour package arranged and operated in the different sector with in India from Domestic tour package. International Tour Package

International Tour Package are those which include all types of tour components into inclusive tour and sell it to the International Travelers International Tour package can be divided into 2 types. It may include ii bound Tour Package, Out bound Tour package. Different types of Tour Packages Inbound Tour Package In bound tour package are also known as incoming tour operation. This type tour package the travels may receive the foreign tour its and arrange all facilities required by those foreigners in the host country are called inbound tour package. A group of American tourist is coming through Thomas Cook to India an the company makes arrangements and handles the Group in India the Thomas look is called an in bound tour package. Outbound Tour Package The tour package which include the tour to a foreign destination are called out bound tour package. This tour package may be conducted individual or in a group and they may be accompanied by a guide because they are going to a destination which is not familiar to them. Computer Reservation System A computer reservation system or CRS is the most important tool of a travel agency. A CRS provides agents with access to such essential travel information as flight availability, airfares, room rates and car rental rates. Reservations can be made over the CRS, and airline tickets can be issued on demand. Gold loan department The gold loan department has 11 staffs and was started 3 yrs back. The interest rate varies according to the value of gold and amount of loan demanded in return for the gold.

Trained and experienced staffs are available to check the purity of gold. Its done using silicon stone and nitric acid. The company gives Rs 2040/gram of gold, which is close to 85% of the original value of gold, the highest by any company in the market. Any of the following is demanded from the customer as Id proof-Voters Id, passport, driving license, family card. The schemes available are gold loan, business loan, business loan 2 where the 75%, 80% and 85% of the market value of gold will be given as loan. The loan period is for 1yr. Insurance department Insurance is such a product that can be sold irrespective of place or people by identifying the policy that suits the expectations and needs of the customers. The virtue of Insurance is that it is not seasonal and never involves any big investment. It is one of the basic necessities of modern life. In fact, every customer can benefit from, at least, one policy. Some individuals own a motor vehicle and thereby require Motor Vehicle Insurance as it is a statutory requirement. And some others may be looking for Health Policies to save their hard earned money from big hospital bills. A few others may be looking for Travel Insurance while going abroad. Life Insurance is a need for every individual, so that their family does not suffer if any unforunate thing happens to the customer. So several policies can be sold to an individual customer or existing customers can be requested for references.


We have tied up Reliance General Insurance Company for promoting General Insurance Business. General Insurance is a necessity or requirement for any customer. It proves to be the most profit-making product, as no cash or investment is involved. Has a term period for one year and promises the same customer for the company every year on renewal. At present we are promoting the following insurance in our company. 1. Motor Insurance 2. Travel Insurance

MOTOR POLICY Motor Insurance covers a vehicle in case of accident, fire expolsion, self ignition or lighting burglury house break of theft riots and strike, earthquake , terrorist activity in transit or land slide. Features: Online issuance of policies Hassle free settlement Own network all India Hassle free inspection Cashless Settlement World standard service Exclusions: Any Accident out side the geographical area. Consequential loss, normal wear & tear Driving without a valid licence for that class of vehicle Driving under the influence of liquor or drug Vehicle not being used as per limitation to use.

Documents Required RC Copy Previous policy copy Documents Required for New Vehicle Customer name & address. Vehicle model & subtype. Hypothecation. Engine no & chassis no. Payment details.

Documents Required for Renewal Final Template


Proposal Form With Customer Signature

Rc Book Copy Previous Policy Copy Payment Cheque / DD

Documents Required If Policy Expired or owner ship changed Inspection Report Photo (Four Side) Auto meter reading
Engine No & Chasis No

For Ownership transfer Letter from the original insured requesting for a transfer of insurance

in the name of the new owner. Completed and signed proposal form from the new owner Transfer fee of Rs. 50/ NCB amount to be recovered on pro-rata basis from the new owner for the balance period of Insurance. Original Policy to be returned to the office

Motor Claim 24 Hours Help Line suggests Name of the Preferred Garage with Cashless facility Deputation of surveyor within 24 working hour of intimation. Submit all original documents and claim form MOU with preferred Garage

TRAVEL INSURANCE Whether you travel for business or pleasure, international travel involves risk.

treatment abroad can be expensive & one never knows, when one would require it. There are other difficult situations also, that one might face like loss of passport or baggage.

Benefits Travel Insurance


1. Personal Accident: Covers death and permanent disablement 2. Medical Expenses and Repatriation: Covers hospitalization expenses for accident or illness, including medical evacuation wherever necessary. 3. Loss of Checked Baggage: Covers total and complete loss of baggage checked in by any international airline. 4. Delay of Checked Baggage: Covers cost of emergency purchase of replacement items. 5. Loss of Passport: covers reasonable and necessary expenses to obtain a duplicate passport or valid travel documents. 6. Personal Liability: Covers legal liability attaching in a private capacity during the course of overseas travel. 7. Cash less Service: direct settlement for in-hospital medical expenses abroad (subject to policy terms and conditions and sub limits) 1. Hospital Cash Daily Allowance: daily allowance while hospitalized in case of accident or illness as specified in schedule. 2. Golfer's Hole-in-one: reimburses expenses incurred in celebration of achieving a hole-in-one by the insured during the trip, anywhere in the world excluding India, in a United States Golfers' Association (USGA) recognized golf course. 10. Hijack Cover: The Company pays as per schedule if the aircraft on which the insured is traveling is hijacked. 11. Trip Delay: if the aircraft on which you are booked to travel from India is delayed beyond 12 hrs than the original scheduled departure time, the sum mentioned in the schedule is paid. However, the company will not pay for any departure delay due to strike/industrial action anticipated at time of flight booking; aircraft taken out of service as per civil aviation or similar authorities' instruction, or delay because the insured failed to check in on time.


12.Trip cancellation : Compensation for loss of personal accommodation or travel charges following the necessary and unavoidable cancellation of the trip due to death, serious injury or sudden sickness requiring minimum 3 day hospitalization of insured or family member (spouse, parent or child). 13.Trip Curtailment: Compensation for loss of personal accommodation or travel charges following the necessary and unavoidable cancellation of the trip due to death serious injury or sudden sickness of insured spouse or child residing in India or, due to hijack of aircraft in which the insured is travelling. 14. Home
Burglary Insurance: This covers loss of or damage to contents excluding

jewellery and valuables of the insured's home in India caused by burglary and / or robbery during the policy period. 15. Emergency Cash Advance: This is an Assistance Service when the insured person required emergency cash following incidents like theft/ burglary of luggage/ money or hold up.

16.Accidental Death & Disability(AD&D)-Common Carrier: Compensation in addition to the sum insured specified under the personal accident section, in case of accidental body injury resulting into death/permanent disability while travelling in a common carrier such as rail, bus, tram or aircraft during the course of the journey. I.D. Details Required From Customer a.) Customer Name & Address b.) Passport Number c.) Date of Birth d.) Phone Number e).Name of the nominee f.) Date of travel g.) Days of Staying

h.)Place to Visit
X-pay department

Have you ever wondered how comfortable it would be to pay your electricity bills from your house rather than being in queue for hours? Have you ever thought how much easier you would feel if you could watch your favorite movie without the tension of standing in queue and not knowing if there are enough tickets for you and your friends? How about paying your child's school fee without taking leave from work or recharging your mobile from where you are at the moment!!! All this is possible through XPAY. You think about any payment and XPAY has a solution. Using XPAY, you have the ease of payment from your comfort zone. You do not even have to carry cash or cards or have a bank account. All payments can be done for a nominal cost through your mobile or internet. You also have the option of paying your insurance premiums, loans etc on a fixed day by way of standing instructions. You can also view the complete history of transactions and budget you expenses. By referring new customers/merchants to XPAY, you can earn additional income too. All
this and much more using XPAY.

All you require to do is walk into a branch and apply for XPAY with a copy of your ID proof. A PAN is complimentary with every XPAY customer account. Once the account is activated, you will receive an SMS/e-mail with the link to download the application, your Login password and MPIN to execute transactions which happens within moments. The payments can also be executed through SMS or IVRS facility. The customer can login to website to make payments and
view his transactions and referrals and mark standing instructions for bill payments.

Just like recharging your mobile, you can reload your XPAY account with any amount from Rs 100/- onwards. You can reload up to Rs.5000 in cash/day and maintain a maximum of Rs.50000/- in the XPAY account. Any reload amount above Rs.5000 can be paid by cheque. It can be done through internet banking in our website or by paying cash/cheque at any of the
branches of UAE Exchange or at any authorized merchant location. You


will receive a confirmation SMS for the reload before you leave the counter. That's how swiftly XPAY works. For applying as a merchant, you only need to provide an application form with a Photo ID proof and Bank account details and submit it at the nearest branch. Once the account is activated, you will receive a merchant code sticker which will be pasted at the counter. All your customers can pay their bills by just typing your merchant code and amount in their mobile. By this way you will not have to manage cash at the counter. You can also view all the transactions on internet. All the payments from your customers will be transferred to your bank account the very next day (bank day). Merchants can also earn additional income through referrals.

Thus, the real convenience of payment is now at your fingertips. Come, join XPAY the mightiest innovation in the history of M-commerce and feel the comfort of payment. Payment will never again be a worry for you. Avail this golden opportunity and discover the Magic of XPAY. Benefits Of XPAY to Customers Avoid queues for bill payments or any sort of payments Customers can receive a free PAN Book movie tickets, travel tickets through XPAY Payment of school fees, college fees etc can be conveniently done through XPAY Customers can recharge their mobiles and DTH connection through XPAY Payments can be executed at any time of the day Customers can also do online transactions using XPAY Payment Gateway Customers need not carry cash or cards Customers need not go in search of ATM's for payments. Customers can earn additional income through referrals.

Benefits of XPAY to Merchants In merchant location where door delivery is available their customer base.

Merchants can retain, merchants can receive the payments before hand
itself. Merchants can send promotional offers to the customer base through XPAY. On requisition, merchants can be promoted through the XPAY website. Merchants can view the transactions through the website or mobile application. Merchants can avoid frauds like counterfeit notes, credit/debit card frauds etc.

XPAY Payment Gateway Integrated Sites

Now Our Customers can Recharge your Mobile and DTH from through our Website or through our Branches

Mobile Recharge BSNL - All circles Airtel - All circles except north east Vodafone - All circles Idea - All circles Reliance - All CDMA circles
TATA - All CDMA circles BPL - Mumbai circle

DTH Recharge Dish TV Sun DTH Tata Sky


With in two Weeks we will complete integration process with 88 major companies including Insurance companies, Banks, Water and Electricity department in various states At present we have tie up with various Akshaya Centers in kerala for making Electricity and BSNL Mobile and Land phone bill Payment. Major Tie ups > > > > > > > > > >


Integration work in progress > > > > > > > > > > > > " > > > > > > >


3.4.1.Key Resources The reason behind the growth of the company is because of the kind of service they provide to the client. For example a person who come for visa can make use of other services like air ticket booking, currency exchange, holiday packages etc.UAE exchange offers a basket of related products which could be considered as the key resource. 3.4.2.SWOT Analysis

Strengths The major strengths of the organization are: India is one of the most developed financial markets The companies efficient, organized and systematic management Strong financial position Competitive position Liquidity position Large size of the organization Powerful Brand Geographical Dispersion Fully automated Operations Customized software solutions and technology. Wide range of products

Weakness Market volatility Slow growing and fragmented industry g Expectant to optimal risks Rates of exchange can vary with changing geographies Strict government regulations Losses are inevitable

Low margins of profits

Opportunities Expansion of foreign exchange markets Widening global markets Lessening boundaries between nations Increasing global trades lndiasforex reserves of USD 27bn 24X7 trading in foreign exchange

Threats Highly volatile markets Variety of factors effectingexchange rates Currency Bubbles speculation Direct and indirect competition

Large number of players

Chapter 4



4.1 OBSERVATIONS The study conducted analyzed the functioning of the organisation as a whole. The findings of the study reveal the following. 1. The company has a large customer base with the widening global marketsand increasing global exposure. 2. Tours and travel, money transfer, forex are one of the major contributors to the organizations income. 3. With the narrowing of the distances between the countries thecompany has a good scope to expand further 4. The company has all the necessary infrastructural facilities and caliber to become an undisputed in the segment of operations 5. The companys technological needs are met by an efficient IT division which provides customized services. 6. Inter branch competition creating and boosting employee morale.

4.2 SUGGESTIONS 1. The company has the caliber to develop itself as an undisputed leader in its segment of operations. The company can achieve this by 2. Taking measures to minimize losses and maximize revenues in forex trading. 3. By developing new marketing stratergies on insurance products. 4. Taking ample measures in bridging the gap between the plannedpolicies and procedures and the actual practice. 5. exploring new avenues of products and Services 6. concentrating on its core Business activities 7. Establishing strong relationships with the customers 8. To identify and implement the best business practices and procedures in line with the regulatory / legal requirements andindustrial standards. 9. Xpay need to be promoted and expanded with major tie ups.

4.3 CONCLUSION The company, UAE Exchange and financial Services Ltd is one of the major players in the Foreign Exchange market and has various products and services tooffer such as inward money transfer/ money changing services, tours, travel &ticketing, insurance etc. The company has a wide range of operations and is spread in many countries ofthe world The Company has the caliber to develop itself as a one stop shop for a person who wishes to travel abroad. The company needs to concentrate more on the core areas of income earning i.e. on the money transfer, forex and travel and tour.


Company must also look into improving its networking activities. Have a morefocus in the direction of the growth. The company can widen its product mix to cater to the needs of any individual who is travelling abroad. The company has the caliber to develop itself as a one stop shop for a traveller.

Books Annual report (2009-2010) of UAE Exchange & Financial Services Ltd Forex manual U.A.E Exchange & Financial Services Ltd HR Manual Tours and travel manual

XPAY Manual Insurance Manual Customer care trainee hand book Employee handbook Slides Reference report Brochures and notices

Websites www.uaeexchange