The most important part of MBA is Summer Internship Program where students get an opportunity to face the real industry issues and solve them. Internship is the time when you need to apply your theoretical knowledge to real-life problems. I want to thank my college Indian Institute of Management Rohtak for giving me a chance to intern at Muthoot Fincorp Ltd. one of the best Gold Loan Company in India.
The feeling was extraordinary when I came to know that my Internship location was in God’s Own Country (Trivandrum, Kerela). It’s been a month since my internship, but I can recall every moment spent during my internship. The department allocated to me was Operation and Ms. Shiney Thomas, Vice President – Operations, was assigned as my mentor. I was excited to be a mentored by someone of that stature.
01st April to 31st May
Butterflies started popping in my stomach as soon as I landed since Trivandrum was extremely beautiful at the same time completely new to me. I went to the companies’ guest house which was given as an initial accommodation to all the interns. The next day I had an Induction session at the companies’ headquarters, where I was given a briefing by the HR about my project for the next two months.
Then stated Gurukul, the initial training and learning program at Muthoot Fincorp. As a part of the training for the initial two days, we had to visit various branches of the company to observe the daily operations. Then the next two days were spent at the office learning about the policies and the getting accustomed to the culture of the workplace. Soon after the training program, I was asked to meet my mentor to understand the deliverables of the project.
My mentor guided me with various project requirement and also introduced me to the other team members. For a Gold Loan company operations are the biggest and the most sought-after departments and getting VP-Operations as my mentor helped me understand the processes inside out.
My project was based on Gold Loan Documentation simplification process. This involved exploring the best practices followed by other NBFC’s and New Gen Banks. Also, it should fall under the regulatory framework. This also involved the optimum utilization of the technology and resources. I began my internship project by researching about our competitors and then started field visits to collect data.
One thing that I learned during my internship was the need for networking in any organization. Since my project had to be done with keeping legal compliances in mind thus, I had to involve the legal department team to guide me. Similarly, the purchase, finance and audit teams were also involved simultaneously. Thus I came to know the importance of having a strong connection between various departments of an organization.
After a few weeks of field visits and data collection, it was time to convert that data into meaningful information for the company. Then I brought various frameworks taught by my professors at our college to use. One such framework was a time-motion study which helped me check the operational efficiency of our company vs. the competitors. The things we learn during the classroom session suddenly become the most important part when it comes to an internship or even final placements.
It would have been an injustice to the beauty of Kerala if I would have left it unexplored. Thus I decided to visit some nearby places during the weekends. Some of the places include Kovalam Beach, Varkala Cliff, Munnar Hill Station, Kodai Kanal, Ponmudi Hills, Kanyakumari, and Alleppey. The beauty of these places will certainly leave you spellbound. Apart from these placed I also visited various restaurants in the city to discover the local cuisine.
Finally, the time came when I needed to end my internship, and I was busy in preparing my report along with all the analysis done for my project. The report presentation was done in parts firstly I had to present my idea to the CHRO and the Chief Advisor to the Chairman, then after their approval, I got a chance to present the same to Chairman Sir. After our final presentation got over CHRO Sir took us for a farewell lunch.
To summarize, I would like to say that internship at Muthoot Fincorp has given me ample opportunities to learn, grow and apply my knowledge to the real world problems. All thanks to my Mentor, Operations, Legal, HR, Audit and Marketing team at Muthoot Fincorp for providing me continuous support and the Placement Team at IIM Rohtak for giving me such a wonderful opportunity.
