An ancient Chinese proverb- "One monk will shoulder two buckets of water, two monks will share the load, but add a third and no one will want to fetch water."

If you want to learn about the fruitful outcomes of mutual understanding in the team or the disastrous consequences of internecine conflicts, this post is the place you want to be. These two contrasting scenarios (of understanding or of conflict) can be well understood by a movie which was shown to us by Dr. Mandi recently.

This movie beautifully describes two very much possible outcomes of any team-exercise. Here it is, Three Monks.

Happy Endings, they ARE real...

This is a Chinese animated movie and it was one of the first animations created as part of the "Rebirth-Period". This movie does not have any dialogues so can be understood by everyone.

Summary and Learning:

Case 1:

A young monk lives in a temple, on the top of a hill. Other than his normal routine of prayers, he has the task of bringing two buckets of water up the hill from the water-body near the hill's base. He lives happily as he has to take care of himself only.

Here, team has not been built yet, just one individual is completing his tasks without any problem.

Case 2:

But soon, another monk arrives. Young monk tries to burden the new monk with the task but the new monk calls his trick and asks him to share the work. But, when they actually start doing it, they find that the carry pole is not suitable for such usage. But, after some trials they come to an agreement about the way they want to perform the task.

Here, there are many lessons:

· If we have some experience of a place, that doesn't give us a right to tease the new joiners, but a responsibility to show them the way, we should try to build a healthy work environment.

· We should never think of anyone being stupid, their abilities and capacities might not be explicitly visible but that does not mean, they don't have any.

· We should never underestimate a person's understanding; he might be knowing it and at the same time, might not be showing it.

· Try building a team, as a team usually performs better than the individuals.

· While working in a team, try to accommodate others and be encouraging at the same time.

· If going gets tough such as team is not going along well, understand everyone's perspective.

· Give people time to settle and let them take the initiative.

Case 3:

Then a third monk arrives and both of the other monks expect him to bring the water but the new monk drinks everything he brings and the other two monks don't want to do the task anymore. Consequently, because of this conflict, no one fetches water although everybody is feeling thirsty. At night, a rat knocks down a candle holder causing fire in the temple. The three monks finally get together and make an effort as a team to put out the fire. They succeed in this task and later on, formulate a method to bring the water. Now, they have understood the axiom "unity is strength" and live a harmonious life thereafter.

The Lessons:

· Don't try to change people, give them time to change themselves at their own pace.

· Don't push your expectations too far; it might cause trouble to the whole team.

· If team is not going along, it doesn't mean that we should let things take their own course. We should strive to change the flow and bring people together.

· It is true that a mis-happening brings people together but that doesn't mean, we should wait for one to put things in order.

· A good team can perform any task, the authority and responsibilities need to be delegated properly.

"INDIVIDUALS WIN FIGHTS BUT WE NEED TEAMS TO WIN WARS"

TEAM - 'T'OGETHER

'E'VERYONE

'A'CHIEVES

'M'ORE

ORIGIN & HISTORY

Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York. As of March 2010, Citigroup is the third largest bank holding company in the United States by total assets, after Bank of America and JP Morgan Chase

Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup

Following its merger with the First National Bank in 1955, the bank changed its name to The First National City Bank of New York, then shortened it to First National City Bank in 1962.
The company organically entered the leasing and credit card sectors, and its introduction of US dollar denominated certificates of deposit in London marked the first new negotiable instrument in the market since 1888. Later to become part of MasterCard, the bank introduced its First National City Charge Service credit card – popularly known as the "Everything Card" – in 1967.
In 1976, under the leadership of CEO Walter B. Wriston, First National City Bank (and its holding company First National City Corporation) was renamed Citibank, N.A. (and Citicorp, respectively). By that time, the bank had created its own "one-bank holding company" and had become a wholly owned subsidiary of that company, Citicorp (all shareholders of the bank had become shareholders of the new corporation, which became the bank's sole owner).
The name change also helped to avoid confusion in Ohio with Cleveland-based National City Bank, though the two would never have any significant overlapping areas except for Citi credit cards being issued in the latter National City territory. (In addition, at the time of the name change to Citicorp, National City of Ohio was mostly a Cleveland-area bank and had not gone on its acquisition spree that it would later go on in the 1990s and 2000s.) Any possible name confusion had Citi not changed its name from National City eventually became completely moot when PNC Financial Services acquired the National City of Ohio in 2008 as a result of the subprime mortgage crisis.

Problems Faced During Recession
As a result of the global financial crisis of 2008–2009 and huge losses in the value of its subprime mortgage assets, Citibank was rescued by the U.S. government under plans agreed for Citigroup. On November 23, 2008, in addition to initial aid of $25 billion, a further $25 billion was invested in the corporation together with guarantees for risky assets amounting to $306 billion.^[2] Since this time, Citibank has repaid its government loans in full

Citibank has retail banking operations in more than 100 countries and territories around the world. More than half of its 1,400 offices are in the United States, mostly in New York City, Chicago, Los Angeles, the San Francisco Bay Area, Washington, D.C. and Miami. More recently, Citibank has expanded its operations in the Boston, Philadelphia, Houston, and Dallas metropolitan areas.

Subsidiaries

· Citibank, N.A.(National Association) – The "original" Citibank, primarily doing business in New York State and the tri-state New York metropolitan area. Also the parent company of the other subsidiaries.^[14]

· Citibank Canada – One of Canada's longest-serving foreign banks, currently with 3,400 employees from coast to coast.

· Citibank Texas, N.A. – The former First American bank.^[14]

· Citibank (West), F.S.B. – The former Citicorp Savings (a savings and loan operating in California), as well as the former California Federal Bank and Golden State Bank.^[14]

· Citibank, F.S.B. – The primary Citibank subsidiary serving all other states, based in Chicago.^[14]

· Citibank Banamex USA – Formally California Commerce Bank, Banamex's U.S. banking division.

· Citibank (South Dakota),

Citibank sponsors the Greek football club Olympiacos F.C. as well as Citi Field in New York.
Citibank became a major sponsor of the Sydney Swans in 2005, who play in the AFL..

A Century in India

Citi began operations in India over a century ago in 1902 in Kolkata
Citi is the largest foreign direct investor in financial services in India with a total capital commitment of approximately US$4 billion in its onshore banking and financial services business and its principal and alternate investment programs
As promoter-shareholder, Citi has played a leading role in establishing important market intermediaries such as depositories, credit bureau, clearing and payment institutions
Citi operates 42 full-service Citibank branches in 30 cities and over 700 ATMs across the country
Citi is an employer of choice to about 7000 people
Citi is the preferred banker to more than 40,000 small and mid-sized companies across India
Citi helped lay the foundation of the Indian software industry by establishing Citicorp Overseas Software Limited and Iflex Solutions Limited. Citi pioneered the ITES industry in financial services through Citigroup Global Services Limited (CGSL). Oracle acquired Iflex in 2005 and CGSL was acquired by Tata Consultancy Services in 2008

Products & Services :

Banking

Credit Cards :

· Shopping

· Travel

· Fuel

· Lifestyle

· Others

· Cash Back

Prepaid Cards

CITI Loans

Online Services

Customer Services

NRI Products

Financial reports

Profit after tax from India business expanded 35 per cent in 2011-12 to Rs 1,922 crore from Rs 1,424 crore a year ago.
A growth in assets, driven by commercial banking and mortgage businesses, and consumer banking operations aided the increase in earnings.

Total assets of Citibank India rose 15 per cent to Rs 128,428 crore during the year. Deposits increased 14 per cent to Rs 64,698 crore. The share of low-cost current account savings account deposit was 55 per cent of total deposits. Total assets, including credit extended to Indian institutional and non-resident Indian clients from offshore branches, stood at Rs 182,256 crore at the end of March, representing 18 per cent increase over the previous year.

The foreign lender’s asset quality also improved with net non-performing loan ratio narrowing to 0.9 per cent in 2011-12 from 1.2 per cent a year ago. Citibank closed the last financial year with a capital adequacy ratio of 16.03 per cent.
Citi, which has a network of 42 branches in 30 cities, increased the number of ATMs in India to over 700.
Citi helped Indian clients raise close to $16 billion from equity and debt capital market transactions and advised on merger and acquisition deals worth $12 billion. It had 13.7 per cent of company foreign exchange flows and 8.84 per cent of company trade flows.

Citigroup Net Income

(in billions of dollars)

$(1.6) $10.6 $11.1

2010

2011

2009

Citigroup Tier 1 Capital Ratio

11.7% 12.9% 13.6%

2010

2011

2009

Expenses rose by $3.6 billion in 2011. Approximately

two-thirds of that was owing to the impact of foreign

exchange and nonoperating expenses such as increased

legal and repositioning charges. Factoring those out, expenses

rose by $1.0 billion, or 2.0%, driven by investments.

My observation on factors for success of CITI BANK

· Universal banking strategy

· Citibank has been one of the early adopters of a universal banking strategy.

· The bank has leveraged the changing demographic profile in India by targeting the attractive retail-banking segment.

· Citibank was a pioneer in consumer banking, being one of the first to introduce focused consumer lending programs and electronic banking.

Market Share
In 2010-11, Citi helped its Indian clients raise close to $16 billion of equity and debt capital. In this segment, the bank’s market share stood at 14 per cent. "Citi remained integrally connected to the trade and capital flows in the region, touching 16 per cent of nationwide foreign exchange flows and eight per cent of trade flows," the bank said.

Mumbai: Global banking major Citibank today said it is targeting to increase its market share in the newly identified 'emerging affluent' segment from 10 per cent to 15 per cent.

The segment christened 'emerging affluent' involves those with income levels ranging from Rs 3 lakh to Rs 15 lakh, which was under-served by the bank but which it would now target following a detailed survey.

Courtesy its corporate salary accounts product, the bank already caters to around 10 per cent of the estimated 1.6 crore people who fall under the category and is targeting to take it to 15 per cent in the next two to three years, its Business Head for Retail Banking Sandeep Bhalla told reporters here.

For doing so, the bank announced a slew of freebies, including free withdrawals at any ATM (automated teller machine) across the world, waiver of fees on facilities like issuing demand drafts and emergency cash assistance

Market Penetration:

With a base of more than 2,000 clients, Citi is the largest foreign bank in India
Citi India FX market share: 14% … estimated to be largest among all players in India
Courtesy its corporate salary accounts product, the bank already caters to around 10 per cent of the estimated 1.6 crore people who fall under the category and is targeting to take it to 15 per cent in the next two to three years.

Awards
At Citi, we strive to be a trusted partner to all of our clients worldwide, helping them to achieve their goals and make their businesses more efficient. And while citi believe that its clients benefit from these efforts, CITI is gratified to see that others think so too.
Below you will find a list of the awards that we have won this year. Click on each one for more information about it.

· Recent Awards

o Treasury & Risk – 100 Most Influential People in Finance

o Treasury Today – Adam Smith Awards 2012

o Celent – Model Bank Awards 2012

o Trade & Forfaiting Review – Excellence Awards 2012

Recent Awards & Recognition

Awards 2012

· FinanceAsia Country Awards 2012

· Best Foreign Investment Bank in India (for the 6th consecutive year)

· Indo-American Corporate Excellence Award 2012

· Best US Company operating in India in Financial Services Category

· IAMAI India Digital Awards 2011

· Best Financial Website

· The Asian Banker Excellence in International Retail Financial Services Awards 2012

· Best Network Integration

Awards 2011

· FinanceAsia Country Achievement Awards

· Best Foreign Investment Bank in India (for the 5th consecutive year)

· Euromoney Awards for Excellence 2011

· Best Equity House India

· Asiamoney Fixed Income Poll 2011

· Overall Best for Credit

· Overall Best for Interest Rates

· Euromoney FX Poll 2011

· CitiFX Pulse was named the'Most Effective Risk Management Tool'

· CitiFX Services were ranked No. 1 in India

· Global Finance Best Internet Banks in Asia 2011

· Best Consumer Internet Bank

· Best Corporate/Institutional Internet Bank

· Bombay Chamber of Commerce and Industry

· Supporter of Art, Culture and Heritage, 2011

· Asiamoney FX Poll 2011 (voted by FIs and Corporates)

· Best for Overall FX Services

· Dun & Bradstreet Banking Award 2011

· Best SME Bank for 2011(under the Foreign Bank category)

· Brand Equity Most Trusted Brands Survey 2011

· Most Trusted Foreign Bank

· Asian Investor Service Provider Awards 2011

· Best Direct Custody, India

· The Asset Asset Triple A Country Awards 2011

· Best Foreign Investment Bank (for the 8th consecutive year)

Key Milestones of Citigroup:

• Mortgage Services: Citibank was the first to launch Home Credit (in 1990), a facility to utilise surplus funds to save interest and PAM (Preserved Asset Mortgage), a 100 per cent home loan with security in equity, mutual funds, etc.

• Auto Loans: Citibank pioneered organised auto financing in India in August 1986.

• Personal Loans: Citibank entered this business in 1989 and is considered a pioneer in this segment with a healthy market share of 24 per cent with expansion through various innovative products.

• Internet Banking: Citibank also provided India’s first and most comprehensive Internet Banking service covering both resident and NRI customers, with a ‘single-glance statement’ enabling customers to get complete information on all their banking relationships. The bank has enabled Internet banking for corporates as well.

• Citibank was the largest mobiliser of funds by non–public sector bank (second after the StateBank of India) for the Resurgent India Bonds (RIB) 1998 and the India Millennium Deposit (IMD), 2000 sourcing US$ 830 million and US$ 840 million respectively.

Future plans

India is one of the priority countries for Citigroup and as a reaffirmation of this commitment; it retained the entire earnings for 2003-2004 as capital in India for further growth. As part of its strategic plan, Citigroup plans to grow organically as well as inorganically in India. Using the

organic mode, it plans to double its footprint in India in the next five years. It will also look at the acquisition route as and when regulations change and market opportunities arise. Citibank plans to enter every line of business, and is launching products and services to expand the market for consumer financial services

Environmental sustainability

Citi’s commitment to environmental sustainability in its own operations and with its clients is based on three pillars: managing the environmental footprint of its own

global operations; managing environmental and social risk associated with projects citi finance; and developing business opportunities with its partners to address critical environmental issues. In 2011, Citi financed and advised on nearly 14,000 megawatts of wind and solar power projects worldwide, pioneered transactions in energy efficiency finance, and, as chair of the Equator Principles Association, led the industry in updating standards for environmental and social risk management practices. In citi’s own operations and its work with clients, the bank is dedicated to supporting solutions that address climate change, water scarcity, decline biodiversity, human rights and other important challenges.

CSR at CITI

Globally, Citi supports the economic empowerment and financial inclusion of low-to moderate-income people in communities where Citi operates. We work collaboratively with a range of partners to design and test financial inclusion innovations with potential to achieve scale. We also seek to support leadership and knowledge building activities. We put the strength of our business, resources, products and people to work to help improve communities. We describe this as a "More-than-Philanthropy approach", which includes support for collaborative problem solving, program development and skill-based volunteering.

One key way in which we engage with the community is through the Citi Foundation. The Citi Foundation is committed to enhancing economic opportunities for individuals and families, particularly those in need, in the communities where we work so that they can improve their standard of living. Citi Foundation focuses its strategic giving on the following key areas:

Financial Capability and Asset Building - Increases in the number of low-to-moderate income adults and/or youth who adopt positive financial behaviors and accumulate and preserve financial assets.
Microfinance - Increases in the supply of financial products that improve and accelerate the financial inclusion of low-to-moderate income individuals.
Enterprise Development - Increases in the number of micro or small enterprises that provide new income generation and/or employment opportunities for low-to-moderate income individuals

Some citi group CSR initiatives in year 2012 are as follows :

Jun 16

Citi Volunteers in India Commemorate Company's 200th Anniversary on Annual Global Community Day

May 26

Citi India Bats for Children During 200th Global Anniversary

Jan 04

Citi-NCPA Anant: From Here to Eternity!

Gaps	Factor difference	I	II	III	IV
Gap if any between Tower height Performance so far achieved and Achievable performance of tower	3-7	0	2	4	7
Gap if any between goal proposed by the manager and mutually agreed goal by team	4-6	3	0	4	3
Gap if any between goal proposed by the manager and the goal proposed by the worker	4-5	6	10	10	-2
Gap if any between goal proposed by the worker and mutually agreed goal by team	5-6	-3	-10	-6	5
Gap if any between performance achieved ( at the end of the exercise ) and goal mutually agreed by manger and the worker	6-7	-3	4	0	-3
Gap if any between performance achieved ( at the end of the exercise ) and achievable goal	7-3	0	-2	-4	-7

NITIEIM19POMA066

Friday 24 August 2012

Tower Building Exercise : A study on Goal Setting

Story of 3 Monks