A REPORT ON SUMMER INTERNSHIP AT

EQUITAS SMALL FINANCE BANK

Project Submitted to the

MANIPAL ACADEMY OF HIGHER EDUCATION – DUBAI CAMPUS

In the Partial Fulfillment of the Requirement for the Degree of

BACHELOR OF BUSINESS ADMINISTRATION

By

SUBEEKSHA RAJA
REG. NO: 1701034

Under the Guidance and Supervision of

Prof. Anantharaman P

SCHOOL OF BUSINESS
MANIPAL ACADEMY OF HIGHER EDUCATION – DUBAI
CAMPUS
ACADEMIC CITY, DUBAI, U.A.E

NOVEMBER 2019
Prof. Anantharaman P
Assistant Professor
School of Business
Manipal Academy of Higher Education – Dubai Campus
Academic City, Dubai, U.A.E.

Date:

CERTIFICATE

This is to certify that the summer internship report entitled, ‘A REPORT ON SUMMER
INTERNSHP AT EQUITAS SMALL FINANCE BANK’, submitted to the MANIPAL
ACADEMY OF HIGHER EDUCATION – DUBAI CAMPUS for the award of the degree of
Bachelors of Business Administration, is a record of the original work done by SUBEEKSHA
RAJA during the period of her study in the School of Business, Manipal University - Dubai
Campus, UAE, under my supervision and guidance, and the project work has not previously
formed the basis for the award of any degree, diploma, fellowship, associate ship or any other
similar title, to any candidate of any University.

Signature of the Guide

ON THE COMPANY’S LETTERHEAD

CERTIFICATE

This is to certify that Ms. Subeeksha Raja, a student of Bachelor of Business Administration
(BBA), School of Business, Manipal Academy of Higher Education – Dubai Campus, bearing
Registration No 1701034, has undertaken the Summer Internship Training at Equitas Small
Finance Bank LTD during July 08, 2019 to August 17, 2019 under my supervision & guidance.
He / She has conducted a study & completed the Project on .…………

Signature of the Guide

Name of the Guide:
Designation:
Address:

Seal of Organization
 DECLARATION

I hereby declare that matter embodied in this report entitled ‘A REPORT ON

SUMMER INTERNSHIP AT EQUITAS SMALL FINANCE BANK’ is the
result of the analysis of observations and interviews carried out by me under the
guidance of Prof.Anantharaman P, School of Business, Manipal Academy of
Higher Education - Dubai Campus, UAE. This project work has not previously
formed the basis for the award of any degree, diploma, fellowship, associate
ship or any other similar title, to any candidate of any University.

SUBEEKSHA RAJA
REG. NO: 1701034
 ACKNOWLEDGEMENT

I would like to express my deepest appreciation to all those who provided me the
opportunity to complete this report. A special gratitude I give to my guide and
supervisor Prof. Anantharaman P for guiding me and constantly supporting me,
without which I would not be able to complete this report.
I am highly indebted to Equitas Small Finance Bank for this providing this golden
opportunity. My sincere thanks to the team I worked with for the extensive
knowledge they imparted. It is a true blessing to have worked with such an
experienced and friendly team.
A special thanks to Mr. Vijay Rengan, who helped me understand every nuances of
the job and supported me continuously throughout the period of the internship.
Last but certainly not the least I extend my gratitude towards my parents & friends
for their kind co-operation and encouragement which aided me in the completion of
this project.

Lastly, I would like to say that from this internship program I believe the experience
that is gathered will definitely help me in the future
 TABLE OF CONTENTS

CHAPTER TOPIC PAGE NO.

1 INTRODUCTION 7
2 INDUSTRY PROFILE 9
3 ORGANIZATIONAL PROFILE 16
4 ANAYLSYS AND INTERPRETATION 20
6 CONCLUSION 24
 CHAPTER - 1
INTRODUCTION
 INTRODUCTION

In today’s world academic education is not adequate to enable a student to compete

with confidence and reach their goal without having an experience or exposure with
the outside world. In order to have an idea and gain experience and exposure the
students of BBA (5th semester) from Manipal Academy Of Higher Education, Dubai
Campus had to undertake 4-6 weeks summer internship program at any organization.

As a part of my summer internship program, this internship gave me the practical

knowledge on banking, secretarial work, statutory compliances & human relations
area. This report focuses on shareholder / stakeholder relations with the board of
directors, convening meetings etc.

To face the much more complex and challenging business world, practical
knowledge is essential to expand our theoretical base. I interned at Equitas Small
Finance Bank headquarters, located in Chennai, Tamil Nadu, India in the company
secretarial department. This internship has given me an opportunity to observe and
perform various processes performed in a bank. It’s not only secretarial work it also
relates with human relations, office management, staff management etc
 PURPOSE & NATURE OF STUDY

The internship program is a mandatory requirement for students who are pursuing
BBA (5th semester) under the school of business, Manipal Academy Of Higher
Education. I have interned for 5 weeks at Equitas Small Finance Bank. I have learnt
and witnessed how board meetings are conducted, how agendas and minutes of the
meeting are prepared, how important and confidential are certain documents how
employees toil around when due dates near, office management, staff management,
human relations, how various registers are maintained in their respective areas, how
stakeholders are handled, how systems are operated etc. I also had opportunity to
prepare agendas and minutes of the meeting for the various board meetings and the
annual general meetings.
 OBJECTIVES OF THE STUDY

 To have an overall idea about the secretarial procedures of Equitas Small

Finance Bank

 To gain exposure in not only the field of secretaryship but also office
management, staff management, etc.

 To gain practical knowledge on how the work is performed by such

organizations with corporations, companies, individuals, non-profit
organizations, etc.

SCOPE OF STUDY

 Background of the organization and their position.

 Identifying various services provided by them to the stakeholders.

 Office management methodology of the firm, which is followed by the

organization to perform their functions.
 LIMITATIONS OF THE STUDY

 The study was conducted with an objective of understanding the secretarial

and banking procedures. I have availed many facilities and faced some
obstacles during my study. These obstacles may be termed as limitation of
study. These limitations are as follows:

 Scheduled time span was not sufficient to cover all information.

 As this internship was the first practical experience, it was not possible for me
to cover up and know about everything running in the organization.

 To some extent the exact procedure was not followed due to time and other
constraints.
CHAPTER – 2
INDUSTRY
PROFILE
 OVERVIEW OF THE INDUSTRY

FINANCIAL SECTOR

The financial sector is a section of the economy made up of firms and institutions
that provide financial services to commercial and retail customers. This sector
comprises a broad range of industries including banks, investment companies,
insurance companies, and real estate firms.

A large portion of this sector generates revenue from mortgages and loans, which
gain value as interest rates drop. The health of the economy depends, in large part,
to the strength of its financial sector. The stronger it is, the healthier the economy.
A weak financial sector typically means the economy is weakening.

The financial sector is one of the most important parts of many developed
economies. It is made up of brokers, financial institutions, and money markets

In order for an economy to remain stable, it needs to have a healthy financial

sector. This sector advances loans for businesses so they can expand, grants
mortgages to homeowners, and issues insurance policies to protect people,
companies, and their assets. It also helps build up savings for retirement and
employs millions of people.
The financial sector generates a good portion of its revenue from loans and
mortgages. These gain value in an environment where interest rates drop. When
rates are low, the economic conditions open up the doors for more capital projects
and investment. When this happens, the financial sector benefits, meaning more
economic growth.

Factors Affecting the Financial Sector

Some of the positive factors that affect the financial sector include:

 Rising interest rates on a moderate basis: As rates rise, financial services

companies can earn more on the money they have and on credit they issue to
their customers.

 Reducing regulation: Whenever the government decides to cut back on red

tape, members of the financial sector will benefit. This means it could lessen
the burden while increasing profits.

 Helping consumers with finances: As consumers decrease their debt loads,

they lessen the risk of defaults. This lighter load also means they may have a
tolerance for more debt, further increasing profitability.
Conversely, investors should consider some of the negative factors that affect this
sector as well:

 Rapidly rising interest rates: If rates rise too quickly, demand for credit
such as mortgages could drop, which could negatively affect certain parts of
the financial sector.

 A flattening yield curve: If the spread between long- and short-term interest
rates drop too far, the financial sector could start to struggle.

 Legislation: Government regulation can have a big impact on the financial

sector. While it may help protect consumers, more red tape can bog down a
business that operates in financial services.
Financial Services

Financial Services are the economic services provided by the finance industry,
which encompasses a broad range of businesses that manage money, including
credit unions, banks, credit card companies, insurance companies, accountancy
companies, consumer-finance companies, stock brokerages, investment funds,
individual managers and some government sponsored enterprises. Financial
services companies are present in all economically developed geographic locations
and tend to cluster in financial centers around the region.

Retail and Commercial Banking

Retail and commercial banking are sectors of the financial services industry that
people tend to be most familiar with—that's how you do your everyday personal
and business banking.

These types of institutions offer checking and savings accounts, accept deposits,
lend money, issue credit and debit cards, perform foreign currency exchanges, and
offer other basic financial products to individuals and businesses.

Investment Banking

Investment banks are intermediaries that help companies access capital markets,
such as the stock and bond markets. They have individual customers as well, but
individuals are not their primary source of business.
Investment banks generally handle more complex financial transactions, such as
facilitating company mergers and acquisitions, issuing shares of stock when a
company goes public, acting as an adviser for companies, securities trading,
underwriting new debt and equity securities, and performing financial research

Hedging

Hedge funds also pertain to investing but are privately owned investment funds as
opposed to mutual funds, which are owned by public companies.

Venture Capital and Private Equity

These types of businesses involve investing money in private companies in

exchange for partial ownership or a percentage of the profit.

Venture capitalists usually focus on startups in their early stages with the hopes of
selling them once they become profitable. Often, these investors play some role in
running the companies they invest in, and offer guidance and expertise to help
them become successful.

Accounting

Accounting is another broad sector within the financial services industry. In

general, accountants record, maintain, and analyze financial accounts for
individuals, companies, nonprofit organizations, and government agencies.

The Big Four public accounting firms are Deloitte, PricewaterhouseCoopers, Ernst
& Young, and KPMG. These provide accounting and auditing services to the
majority of the largest publicly traded companies in the world.
Insurance

The insurance sub-sector of the financial services industry exists to help

individuals and businesses calculate and mitigate potential risks for financial loss

Financial Export

A financial export is a financial service provided by a domestic firm (regardless of

ownership) to a foreign firm or individual. While financial services such as
banking, insurance and investment management are often seen as a domestic
service, an increasing proportion of financial services are now being handled
abroad, in other financial centers, for a variety of reasons. Some smaller financial
centres, such as Bermuda, Luxembourg, and the Cayman Islands, lack sufficient
size for a domestic financial services sector and have developed a role providing
services to non-residents as offshore financial centres. The increasing
competitiveness of financial services has meant that some countries, such as Japan,
which were once self-sufficient, have increasingly imported financial services.

Other Financial Services

 Bank cards - include both credit cards and debit cards. According to the Nilson
Report, JP Morgan Chase is the largest issuer of bank cards.

 Credit card machine services and networks - Companies which provide credit
card machine and payment networks call themselves "merchant card
providers".
 Intermediation or advisory services - These services
involve stockbrokers (private client services). Stock brokers assist investors in
buying or selling shares. Primarily internet-based companies are often referred
to as discount brokerages, although many now have branch offices to assist
clients. These brokerages primarily target individual investors. Full service and
private client firms primarily assist and execute trades for clients with large
amounts of capital to invest, such as large companies, wealthy individuals, and
investment management funds.

 Private equity - Private equity funds are typically closed-end funds, which
usually take controlling equity stakes in businesses that are either private, or
taken private once acquired. Private equity funds often use leveraged buyouts
(LBOs) to acquire the firms in which they invest. The most successful private
equity funds can generate returns significantly higher than provided by the
equity markets.

 Venture capital is a type of private equity capital typically provided by

professional, outside investors to new, high-growth-potential companies in the
interest of taking the company to an IPO or trade sale of the business.

 Angel investment - An angel investor or angel (known as a business angel or

informal investor in Europe), is an affluent individual who provides capital for
a business start-up, usually in exchange for convertible debt or ownership
equity. A small but increasing number of angel investors organize themselves
into angel groups or angel networks to share resources and pool their
investment capital.
 Conglomerates - A financial services company, such as a universal bank, that is
active in more than one sector of the financial services market e.g. life
insurance, general insurance, health insurance, asset management, retail
banking, wholesale banking, investment banking, etc. A key rationale for the
existence of such businesses is the existence of diversification benefits that are
present when different types of businesses are aggregated. As a
consequence, economic capital for a conglomerate is usually substantially less
than economic capital is for the sum of its parts.

 Financial market utilities - Organizations that are part of the infrastructure of

financial services, such as stock exchanges, clearing houses, derivative and
commodity exchanges and payment systems such as real-time gross
settlement systems or interbank networks.

 Debt resolution is a consumer service that assists individuals that have too
much debt to pay off as requested, but do not want to file bankruptcy and wish
to pay off their debts owed. This debt can be accrued in various ways including
but not limited to personal loans, credit cards or in some cases merchant
accounts.
Indian Financial Services Industry

India has a diversified financial sector undergoing rapid expansion, both in terms
of strong growth of existing financial services firms and new entities entering the
market. The sector comprises commercial banks, insurance companies, non-
banking financial companies, co-operatives, pension funds, mutual funds and other
smaller financial entities. The banking regulator has allowed new entities such as
payments banks to be created recently thereby adding to the types of entities
operating in the sector. However, the financial sector in India is predominantly a
banking sector with commercial banks accounting for more than 64 per cent of the
total assets held by the financial system.

The Government of India has introduced several reforms to liberalize, regulate and
enhance this industry. The Government and Reserve Bank of India (RBI) have
taken various measures to facilitate easy access to finance for Micro, Small and
Medium Enterprises (MSMEs). These measures include launching Credit
Guarantee Fund Scheme for Micro and Small Enterprises, issuing guideline to
banks regarding collateral requirements and setting up a Micro Units Development
and Refinance Agency (MUDRA). With a combined push by both government and
private sector, India is undoubtedly one of the world's most vibrant capital markets.
In 2017, a new portal named 'Udyami Mitra' has been launched by the Small
Industries Development Bank of India (SIDBI) with the aim of improving credit
availability to Micro, Small and Medium Enterprises' (MSMEs) in the country.
India has scored a perfect 10 in protecting shareholders' rights on the back of
reforms implemented by Securities and Exchange Board of India (SEBI).
Market Size

The Mutual Fund (MF) industry in India has seen rapid growth in Assets Under
Management (AUM). Total AUM of the industry stood at Rs 23.80 trillion (US$
340.48 billion) between April 2018-February 2019. At the same time the number
of Mutual fund (MF) equity portfolios reached a high of 74.6 million as of June
2018.
Another crucial component of India’s financial industry is the insurance industry.
The insurance industry has been expanding at a fast pace. The total first year
premium of life insurance companies reached Rs 214,673 crore (US$ 30.72 billion)
during FY19.
Along with the secondary market, the market for Initial Public Offers (IPOs) has
also witnessed rapid expansion. The total amount of Initial Public Offerings (IPO)
increased to US$ 1.2 billion raised from 37 between April – June 2018.
Over the past few years India has witnessed a huge increase in Mergers and
Acquisition (M&A) activity. In H12018, 74 deals of acquisition took place in
financial sector. The total value of such transactions was US$ 4.166 billion. *
Furthermore, India’s leading bourse Bombay Stock Exchange (BSE) will set up a
joint venture with Ebix Inc to build a robust insurance distribution network in the
country through a new distribution exchange platform.

Investments/Developments

 Investments by Foreign Portfolio Investors (FPIs) in Indian capital markets

have reached Rs 6,310 crore (US$ 899.12 million) up to November 22,
2018.
  As of October 2018, the Financial Inclusion Lab has selected 11 fintech
innovators with an investment of US$ 9.5 million promoted by the IIM-
Ahmedabad's Bharat Inclusion Initiative (BII) along with JP Morgan,
Michael and Susan Dell Foundation, and the Bill and Melinda Gates
Foundation.

 The private equity and venture capital (PE/VC) investments reached US$
25.20 billion between January to October 2018.

Government Initiatives

 In December, 2018, Securities and Exchange Board of India (SEBI)

proposed direct overseas listing of Indian companies and other regulatory
changes.

 Bombay Stock Exchange (BSE) introduced weekly futures and options

contracts on Sensex 50 index from October 26, 2018.

 In September 2018, SEBI asked for recommendations to strengthen rules

which will enhance the overall governance standards for issuers,
intermediaries or infrastructure providers in the financial market.

 The Government of India launched India Post Payments Bank (IPPB), to

provide every district with one branch which will help increase rural
penetration. As of August 2018, two branches out of 650 branches are
already operational.
 India is today one of the most vibrant global economies, on the back of
robust banking and insurance sectors. The relaxation of foreign investment
rules has received a positive response from the insurance sector, with many
companies announcing plans to increase their stakes in joint ventures with
Indian companies. Over the coming quarters there could be a series of joint
venture deals between global insurance giants and local players.

 The Association of Mutual Funds in India (AMFI) is targeting nearly

fivefold growth in assets under management (AUM) to Rs 95 lakh crore
(US$ 1.47 trillion) and a more than three times growth in investor accounts
to 130 million by 2025.

 India's mobile wallet industry is estimated to grow at a Compound Annual

Growth Rate (CAGR) of 150 per cent to reach US$ 4.4 billion by 2022
while mobile wallet transactions to touch Rs 32 trillion (USD $ 492.6
billion) by 2022.
Financial Sector of the UAE

Financial sector of the UAE is one of the major economic sectors, which have an
impeccable reputation in the international arena. The reliability and stability of the
sector is achieved due to the sound policy of the Central Bank of the UAE. In
particular, the Central Bank sets very high standards to its own capitalization of
banking institutions. That is why the UAE banks belong to the category of highly
reliable financial institutions.

The UAE Central Bank, established in Abu Dhabi, regulates the banking and
monetary system. There are approximately 50 banks in the UAE with over 300
branches and strict control by the Central Bank has resulted in a growing financial
sector exhibiting the key facets of competition and transparency typical of larger
economies.

The Dubai International Financial Centre (DIFC) was established in 2004 as an on-
shore financial free zone focusing on several sectors of financial activity: Banking
Services (Investment Banking, Corporate Banking & Private Banking); Capital
Markets (Equity, Debt Instruments, Derivatives and Commodity Trading); Asset
Management and Fund Registration; Insurance and Reinsurance; Islamic Finance;
Business Processing Operations and Ancillary Services. It offers businesses and
investors advantages such as security of contracts, independent courts, 100 percent
ownership and a friendly tax regime. Located strategically between East and West,
DIFC provides a stable and secure platform for businesses and financial
institutions to tap into the emerging markets of the Middle East, Africa and South
Asia. The Dubai Financial Services Authority (DFSA) regulates financial services
in the DIFC to international standards.
Abu Dhabi Global Market (ADGM) is a broad-based international financial center
for local, regional and international institutions. ADGM’s three independent
authorities – the Registration Authority, the Financial Services Regulatory
Authority (FSRA) and ADGM Courts – ensure that its business-friendly
environment operates in line with international best practice that are recognized by
major financial centres across the world.

Islamic Finance

The global Islamic finance sector has been growing rapidly. Islamic finance is not
just for Muslims but is based on an Islamic ethical foundation. Trade in money for
the sake of profit is forbidden, but trade in goods is permitted. Transactions must
be based on assets or other tangible goods, in order to avoid what is considered
usury, not in compliance with sharia law. Islamic banks have a different structure
from traditional banks but the services they offer are similar.

Sukuk has become a very attractive financial instrument. According to the 2014
Global Islamic Finance Report, $1.813 trillion of assets are being managed in a
sharia compliant manner.

Stock Markets

The UAE hosts three stock exchanges: Nasdaq Dubai (nasdaqdubai.com), Abu
Dhabi Securities Market (ADX.ae) and Dubai Financial Market (dfm.ae).
 Outward Investment

Overseas investments have been a critical component of the UAE’s economic

development strategy for decades as the country has sought to diversify where and
how it invests its financial assets. The UAE Government regards such investment
as a security net for future generations who will one day face a depletion of the
country’s energy resources.

This strategy led to the creation of a number of government-owned investment

institutions such as:

 Abu Dhabi Investment Authority (ADIA)

 Abu Dhabi Investment Council (ADIC)

 Mubadala Development Company (MDC)

 International Petroleum Investment Company (IPIC)

 Dubai World

 Dubai International Capital (DIC)

These government investment organizations have been active and responsible

participants in global financial markets for over three decades. Representing
patient and responsible capital, these professionally managed entities include some
of the world’s oldest, biggest and most respected government investment funds.

Like private equity firms, pension funds and other institutional investors, UAE
investment organizations seek to maximize risk-adjusted returns.
Recently, Abu Dhabi investment institutions clarified their roles and investment
approaches and took a number of steps to enhance international understanding and
cooperation. In particular, they clarified that they haven’t ever used and will never
use their investment organizations or individual investments as a foreign policy
tool.

The Abu Dhabi Investment Authority (ADIA) co-chaired the IMF-sponsored

International Working Group (IWG) to create the first-ever set of best practices.
The IWG comprises both investing and recipient countries and reached a shared set
of principles called the “Santiago Principles.”

In this process, Abu Dhabi has accepted the need of other governments for
increased scrutiny of inbound investments that have potential national security
implications—so long as the process is clear, fair and timely. For example, to date,
Abu Dhabi investment organizations fully accept the Committee on Foreign
Investment in the United States (CFIUS) review process, and remain committed to
abiding by both the letter and the spirit of the law.

There is a permanent work on the improvement of the regulatory framework, which

governs the financial sector of the state. The state expresses full willingness to
support local banking institutions. Despite the attempts to reduce government
intervention in the private financial sector, banks of the UAE can always count on
the assistance of the main financial regulator of the state.
The financial sector of the UAE, including banks, micro credit institutions and
exchanges, is very attractive to the potential investors. This popularity is due to the
following factors:

 High reliability, ensured by strict lending criteria;

 Permanent screening and analysis of the short-term and medium-term prospects.

It should be noted that the UAE banks are actively involved in financing of
international trade, including export and import credit programs. The growth and
stability of the national banking system is also ensured by means of the development
of the local market of the United Arab Emirates. Today, banks participate in the
utmost various national projects. Money in the UAE is channeled for the most
various projects in the field of water desalination, national power industry, oil and
gas sector, and the numerous industries.
 CHAPTER – 3
ORGANIZATION PROFILE
Introduction

In this chapter we will discuss about the history of the organization, organization
structure, different departments, products and services provided the organization.

History of the Organization

With the objective of achieving greater heights in the financial sector, Equitas Small
Finance Bank was founded in 2007 by Equitas as a microfinance lender, with
headquarters in Chennai, India. After receiving license from the Reserve Bank of
India (RBI) on 30 June 2016, Equitas began banking on 5 September 2016 as
a subsidiary of holding company Equitas Holdings Ltd. With effect from 4 February
2017, Equitas became a scheduled bank.

Milestones
 Organization Structure

The organization follows a hierarchial structure where there are many levels of
management. Hierarchial organizations focus on empowering employees as well
as adheir to the chain of command

Board of Directors

Nomination and
Remuneration Audit Committee
Committee

Chief Executive
Officer

Chief Operating
Officer

Subject to governmental authority - National or State, according to its charter - the

management of any bank is vested in its board of directors. Such directors are
elected by the stockholders. The directors elect the officers, president, vice-
president, cashier and assistant cashier, who are the executive heads of the
institution and are charged with the duty of administering its affairs. The number
of vice-presidents and assistant cashiers depends upon the size of the bank. The
directors may also appoint committees - such as a discount committee, an executive committee,
and an examination committee - that the business of the bank may seem to require.

According to the character of their duties and responsibilities, bank officers and
employees may be classified as (1) executives, (2) tellers, (3) bookkeepers.
Whenever it becomes necessary, on account of volume of business, to divide the
work in a bank into divisions, each employing a group of clerks, such divisions are
organized into departments each having a department head, who is usually a teller,
a head bookkeeper, or perhaps a junior officer.

The managing director and CEO of Equiats Small Finance Bank is Mr. Vasudevan
P N. The board of directors include Mr. Arun Ramanathan, aa retired IAS Officer,
Mr. Arun Kumar Varma, Prof. N. Balakrishnan, MS. Lalitha Lakshmanan, Mr.
Nagarajan Sinvasan, Mr. Sridhar Ganesh, Ms. Tabassum Inamdar, Mr. Navin Puri
and Mr. Srivasan N.

Departments

The departments into which the bank is divided into are as follows :

(1) Receiving Teller's Department (Teller) - Receives, receipts for and

proves deposits, distributes checks to bookkeepers and other departments,
prepares exchanges for clearing houses, and turns cash over to the paying teller at
end of day.
(2) Transit Department (Teller) - The transit department may be a subdivision of
the receiving teller's department and was formerly known by other terms, such as
correspondence, foreign check, miscellaneous check or country check department.
This department assorts checks and other cash items payable out of town, indorses
them and lists them on letters addressed to other banks. It gives totals of outgoing
or remittance letters to general ledger bookkeeper at end of day. This department
often keeps the records of exchange charged on out-of-town checks, and of
delayed credits on interest balances made necessary because of uncollected funds
deposited.

(3) Paying Teller's Department (Teller) - Pays or certifies checks, is in charge of

the signature book or cards bearing the authorized signatures of all depositors,
ships currency, is in charge of the vault cash, and makes up payrolls.

(4) Note Teller's Department (Teller) - Collects notes and drafts due at the bank
or elsewhere in the city. It is usually in charge of the runners
or messenger department, which is a subdivision, and it usually receives deposits
made by other banks, and may perform the functions of a mail teller.
(5) Collection Department (Teller) - Collects notes, drafts and other "time" items
when payable out of town, and credits accounts of depositors when collections are
advised paid.

(6) Loan or Discount Department (Executive) - Receives notes submitted for

discount or makes loans, figures discount and interest, and has charge of collateral
securing loans.
(7) Credit Department (Executive) - Secures and collects information relating to
borrowers, checks statements submitted by them, and is in charge of credit files,
which contain information as to the reliability, business habits and financial
strength of borrowers.

(8) Analysis or Statistical Department (Executive) - This department is usually

found in city banks. It analyzes the accounts of depositors to determine which are
profitable and which are losing accounts, makes monthly reports to officers, is in
charge of statistics relating to the bank's accounts and matters in which the bank is
particularly interested. It is closely related to the transit department.

(9) General Ledger Department (Bookkeepers) - Keeps the general

or control accounts of the bank, and makes up the bank's statement of condition.

(10) Country Bank Account Department (Bookkeepers) - This department is

confined to city banks. It keeps the accounts of other banks.

(11) Individual Ledger Department (Bookkeepers) - Keeps the records of the

balances of individual depositors and figures interest on accounts. It may be
subdivided as to kind of accounts (savings, dealers), in addition to ordinary
alphabetical division, and may balance pass-books or there may be a separate
department for this purpose using the statement system.
(12) Auditor's Department (Executive) - This department is responsible for the
settlement of the various departments, reconciles the accounts with other banks,
and certifies interest calculations.
Products and Servuces Provided

The bank offers various prouducts and services based on the need of the customer.
They tend to individals as well as businesses. The personal products include::
The Bussiness products include the following :
Key Competitors

There are many competitors of Equitas Small Finance Bank, but the key
competitors are the ones that directly affcet the business. Some of them are :

1. Karvy Finance - Karvy Finance is perceived as one of Equitas's biggest

rivals. Karvy Finance was founded in 2009, and its headquarters is in
Mumbai, Maharashtra. Karvy Finance competes in the Consumer Finance
field. Karvy Finance has 13,541 fewer employees than Equitas.

2. L & T Finance - L&T Finance is one of Equitas's top rivals. L&T Finance
is a Private company that was founded in 1994 in Mumbai, Maharashtra.
L&T Finance operates in the Mortgage Finance industry. Compared to
Equitas, L&T Finance has 7,050 fewer employees.

3. MAS Financial Services - MAS Financial Services is Equitas's #3 rival.

MAS Financial Services is a Public company that was founded in
Ahmedabad, Gujarat in 1995. MAS Financial Services is in the Consumer
Finance industry. MAS Financial Services has 12,485 fewer employees vs.
Equitas.

4. SCNL - SCNL is seen as one of Equitas's biggest rivals. SCNL was founded
in New Delhi, Delhi} in 1990. SCNL is in the Banks field. Compared to
Equitas, SCNL generates $207.7M more revenue.
CSR Work by Equitas Small Finance Bank

Equitas Small Finance Bank established Equitas Development Initiatives Trust

(EDIT) in 2008 to provide social services. The Trust was launched on 25th
February 2008 in Raj Bhavan, Chennai in the august presence of His Excellency,
the Governor of Tamilnadu, Shri Surjeet Singh Barnala. The Trust has two main
focus areas: Education for the poor children and Community Development
comprising development in literacy levels, economic levels and health care. While
compnaies are required to spend at least 2% of their average net profit on CSR
activities, the bank committed 5% of their profits to EDIT.
EDIT established Equitas Gurukul Matriculation Schools in 2010. By 2017, the
schools were employing 400 people, and educating 5,700 students primarily from
backgrounds that offered limited opportunities. EDIT also has a programme called
Equitas Bird's Nest that seeks to help impoverished pavement dwellers. In March
2018, EDIT celebrated the milestone of improving the quality of life for 1,300
families in Chennai through this programme.
 CHAPTER – 4
ANALYSIS AND
INTERPRETATION
Introduction

In this chapter we will discuss about the task done by the student as an intern,
critical observation and recommendations o the student regarding the job at the
organization.

Company Secretaryship

The breadth and importance of the role of the Company Secretary has increased
markedly over the past five years. It is a unique role as the Company Secretary is
often neither part of “line management” nor a member of the Board itself.

Within any organization, a Corporate Secretary’s duties include ensuring the

integrity of the governance framework, being responsible for the efficient
administration of a company, ensuring compliance with statutory and regulatory
requirements and implementing decisions made by the Board of Directors.

Job Done During the Internship

As an intern in the Company Secretary department of Equitas Small Finance Bank,

I had assisted the team in convening various meetings of the Committees of the
Board of Directors, Annual General Meetings of the shareholders / members which
included preparation and circulation of notices, agendas, and minutes of the
meeting.
I had also dealt and resolved with various complaints received from stakeholders /
shareholders. Furthermore, I handled the entire document (physical files)
maintenance of the department during the period and also carried out the process of
segregation of the same by re-racking / modifying a few segments of files with
necessary additions / deletions to the same to have ease of access for every
member of the team. Additionally, I had also assisted the team in statutory
departmental compliances carried out during the period.

Critical Observation
The working environment is very friendly and all the staff/employees, superiors,
etc are ready to help all the time. There is a good chain of command which is
always followed. The firm has got systems and software for keeping stakeholders /
shareholders details, managing meetings etc. But they often tend to rely on manual
methods which is time consuming and laborious. Stationary items are always
available and kept in stock whenever necessary, as the smallest things are always
very important in an organization. The peons and clerks are of great help to the
executives and other employees. They execute the task assigned accurately.
Without them, it is safe to say the employees will have a hectic and tiring time at
work. Working hours are from 9:30 AM- 5:30 PM, working days are from
Monday – Saturday. The timings are flexible based on the employees needs. The
staff too ensure to not abuse the flexibility provided by the management. The bank
also permits parents to bring in their toddlers to work and provide a day care
service at the work place itself. This is a great support, which is not often provided
by many organizations.
 CHAPTER – 5
RECOMMENDATION &
CONCLUSION
Recommendations

Interning at Equitss Small Finance Bank was a great and fruitful opportunity for
me. I have learned many things throughout my internship. I have some
recommendations and suggestions in my mind:

In the department I interned at, only 4 members were part of the team. The work
and duties of the team are very critical and the work pressure is very high as they
are directly reporting to the board of directors who are accountable to the
stakeholders of the organization.

Secondly, to increase the rate of work efficiency they can make better use of the
systems and software available rather than relying on age old manual methods. It
will also reduce the work load to a certain extent and will speed up the process.

Conclusion

Interning with Equitas Small Finance Bank was very much a fruitful opportunity. I
have used my learning into practice and experienced it practically, also having
hands on work culture. Internships are very vital for a student’s future career and
adds on a plus point in their list of experiences at different organizations. In
conclusion I am eternally grateful not only for getting this opportunity but also for
all those who have gave me a chance to enhance learning and bring forth my
strengths and weaknesses into place.
 REFERENCE

www.owler.com

www.equitasbank.com

www.mondaq.com

csrbox.org

economictimes.indiatimes.com

www.moneycontrol.com
www.crisil.com