December 30, 2020
Our business of Exchange Margin Funding (EMF) has been picking up momentum and crossing milestones ever since we launched it online on all our digital platforms in last July. After dipping in the early months of the lockdown, in August the EMF assets under management (AUM) crossed Rs.200 crore for the second time in this year. EMF Online has made it easy for clients with limited resources to take advantage of the short-term money-making opportunities in the market. At the same time, it has helped in boosting the company’s brokerage, interest income and delivery volume over the past one year. The business has been consistent and steadily growing, thanks to the efforts of our front-line staff, especially the branch network.
In the network, the branch that stands out for its brilliant performance in growing the EMF business throughout is the Mumbai - Churchgate branch under the leadership of Cluster Head Devang Kamdar and Branch Manager Piyush Shah. The Mumbai - Churchgate branch has consistently done significantly better than the other branches in promoting EMF and emerged on top in terms of EMF funding utilisation, with a high utilisation ratio of 14% compared with the average rate of 2% in the branch network. It has also fully achieved in advance its 2020 target, which incidentally was much higher compared with the targets set for the rest of the network. What’s more, the branch has consistently generated the highest EMF interest income for the company on a month-on-month basis in 2020. Alone the branch accounts for approximately 10% of the total EMF funding business. Piyush has rightly offered the product to the clients who seek to cash in on the short-term to medium-term market opportunities with minimum margin deployment. Come, let us hear the success story of the branch in his words.
Internal Communications Team (ICT): Congratulations! Your branch is leading in the EMF business. How does it feel?
Piyush Shah (PS): It really feels great. It is team work that has brought the Mumbai -Churchgate branch to the top position in the EMF business.
ICT: How do you identify clients for EMF and convince them to avail of EMF? What is your pitch?
ICT: How did you manage to keep the EMF business rolling even in the face of the new pledge system?
ICT: Did you face any challenges in selling EMF in the lockdown? If yes, how did you overcome them?
Piyush Shah se insipiration lekar, tu bhi EMF business boost kar, Sharekhan kar!