CMD: Leadership with innovation

What led to this strategic turnaround?

I am an economist by training, and I put my training into practical application. I realized that if I go in for more investments, that would attract more interest income. This year I plan to cross the Rs 120 crore target. If you invest more, and your investment is sound, you are bound to receive sound returns year on year. I am happy to inform that my total investment is more than Rs 550 crore. In another three to four years that I’m likely to be here, the authorized capital should go up by more than Rs 1,000 crore, and total investment should breach the Rs 2,500 crore mark. Before investing, any industrialist will always ask about the returns on investment. This has also been my case. My left eye has been on investment, and the right one on recovery. Recovery is critical, if you do not recover, then your organization goes into bad debt, and turns into a non-performing asset. Those that are receiving benefits, I ask them to return the loans. If they return on time, it helps them to receive more loans, and they are benefited further. As CMD it is my duty to ensure that recovery is there. Investment and return are as inseparable as day and night.

Recently at a programme in Faridabad that was attended among others by Union Minister for Social Justice and Empowerment Mr T.C. Gehlot and the Haryana CM, a record disbursement was made. What kind of preparation and planning went behind this record breaking feat?

Faridabad is the Lok Sabha constituency represented by Hon’ble Minister of State Mr Krishan Pal Gurjar. He was influenced by my presentation on NHFDC. He wanted to entrust me with the responsibility or organizing a mega camp in the district, but before that he also wanted to test out my organizing skills. So prior to the February 1 mega camp, three smaller camps were held that went off quite well. Prior to the mega camp of February 1, we had held detailed discussions with the district administration headed by Dr Amit Aggarwal, the Deputy Commissoner, Faridabad. In all 135 villages of Faridabad were covered through village panchayats and pradhans. We asked them to bring villagers with disability certificates. Logistical support was provided by the Red Cross Society of Faridabad through is volunteers. The Badshah Khan hospital of the district led by its chief medical officer provided medical support at the mega camp. The joint secretary (pension) in Faridabad was invited so that they could benefit on the spot those disabled who had not received pensions. Police support was provided by the district. A consortium of banks including SBI, IDBI, Punjab National Bank and others were invited to connect bank accounts of disabled beneficiaries with the Aadhar card. Those without bank accounts were helped in opening their accounts. A large number of universities, colleges and schools were present. I am mandated to distribute more than 2,000 scholarships per year. We invited 25 industrial houses in Faridabad. I am happy to inform that more than 1500 disabled persons were selected for jobs by these industrial houses in a single day, something unprecedented. The Shine Society, an NGO led by Mrs Meera Bhatia, helped us shortlist candidates for jobs. It was a mega camp in which Rs 13 crore was disbursed, making it the largest ever in the history of the NHFDC. It was attended by our Hon’ble Minister Mr Thawar Chand Gehlot, Hon’ble MoS Mr Krishan Pal Gurjar and Hon’ble Haryana CM Mr Manohar Lal among others.

Is there any study on the socio-economic impact of NHFDC schemes?

Yes, we have engaged two expert organizations, HARDICON Limited and Apparel Training and Design Centre (ATDC) to evaluate beneficiaries who had received NHFDC resource in terms of general loan, term loan, scholarship, vocational training, educational loan. My ministry is also requesting me to appoint a professional organization like Deloitte who is being engaged to do an evaluation study. I am happy to say that 87 per cent of beneficiaries that have availed money from us have spent it for the purpose it was taken. There are many beneficiaries from different strata that have come up in life. Some have become really good entrepreneurs which is heartening to note. Many have married, and are settled with children.