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a project report on recruitment and selection of financial consultant in HDFC

Apr 16, 2015

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project done in HDFC SLIC

PROJECT TITLE A PROJECT REPORT ON RECRUITMENT AND SELECTION OF FINANCIAL CONSULTANT AT HDFC STANDARD LIFE INSURANCE COMPANY LTD SUBMITTED TO RAI BUSINESS SCHOOL, NEW DELHI

UNDER THE GUIDANCE OF MR JUGAL GOSHWAMI, BUSINESS DEVELOPMENT MANAGER, HDFC SLIC, GUWAHATI, ASSAM. (DURATION 1ST JUNE, 2009 TO 30TH JULY, 2009) SUBMITTED BY BISHNUJYOTI DAS MBA 3rd semester

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Certificate

This is to certify that the project report titled A Project report on recruitment and selection of financial consultant at HDFC Standard Life Insurance Company Limited has been prepared and submitted by Sri Bishnujyoti Das, a student of MBA & Post Graduate Program In Planning & Entrepreneurship,3rd Semester from Institute of Rai Business School, New Delhi towards the fulfillment of the course of MBA & PGPPE is a genuine record of project work done by him under my guidance and supervision putting in him full effort and sincere devotion. The report or a part of it has not been submitted for any degree in any other University or Institute.

Signature

SEAL/stamp of the organization Date: Place:

(DEBASISH BORDOLOI) Branch Manager

(JUGAL GOSHWAMI) Business Development Manager HDFC SLIC, Goshwami Service Guwahati-03, AssamPage | 2

ACKNOWLEDGEMENT

It is a feeling of divine pleasure for me to express my deep sense of gratitude and indebtedness to HDFC Standard Life, Goshwami Service, Guwahati. I am deeply great full to Mr.Debasish Bordoloi, Branch Manager and Mr Jugal Goshwami, Business Development Manager, HDFC Standard life insurance, Goshwami service, Guwahati, for the co-operation extended by him in conducting the survey, advising me on the project and furnishing the required information. I wish to place on record my deep sense of gratitude to our highly esteemed faculty, Mrs. Brijesh Ramtani, for his expert advice and valuable support throughout the period of preparation of my project.

I also take this opportunity to extend my heartfelt gratitude to others who directly of indirectly helped me, by providing me necessary information required for successful completion of the project.

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PREFACE

As an essential and obligatory part of my course, I undertook 60 days summer training in HDFC Standard Life, Goshwami service, Guwahati. This training has helped me to get a practical knowledge as an important suffix to the theoretical knowledge into the business environment. It is in this sense that the practical training in a company has a significant role to play in the subject of business environment. To develop healthy managerial and administrative skills, it is necessary to contribute to combine the classroom learning with the practical knowledge of real business environment.

This report is prepared after having experience of various activities in HDFC Standard Life, Goshwami Service, Guwahati to get the practical know how before joining any organization.

I shall feel suitably rewarded if this project proves helpful to the organization

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DECLARATION

I, Bishnujyoti Das, MBA & PGPPE, third semester student of Rai Business School, New Delhi, hereby declare that this project report entitled RECRUITMENT AND SELECTION OF FCs IN HDFC STANDARD LIFE INSURANCE held at GUAWAHATI, ASSAM is the result of original work carried out by me from 1st june to 31st july, 2009, for the award of the Degree of MBA & PGPPE. This Report has not been copied from anywhere, up to the best of my belief and knowledge. It has not been submitted anywhere else for Award of any other Degree/diploma.

(BishnujyotiDas) RAI BUSINESS SCHOOL NEW DELHI

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EXECUTIVE SUMMARY

TITLE OF THE PROJECT: -

A project report on recruitment and

selection of FCs at HDFC Standard Life and insurance company limited

DURATION: AREA SURVEYED: COMPANY :-

60 Days. GUWAHATI CITY. HDFC SLIC, Guwahati,Assam

OBJECTIVES :Focus on to find out for candidate who values integrity and dedicated to his duty. To organize various presentations and phone calls at various places to publicized about the recruitment of appropriate candidate.

METHODOLOGY: -

Market research/survey.

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CONTENTS TITLE NUMBER Project title Certificate Acknowledgement Preface Declaration Executive summery Introduction to the company History Our vision ,our values Board members Awards and accolades Press release Recruitment process Who can be FC ,work of FC Objective of study Research design Future plans Financial performance 1 2 3 4 5 6 8-9 10-13 14-16 17-19 24 25 26 27 28-31 32-34 35 36-38 PAGE

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Major competitors of HDFC SL Product of HDFC SL I.R.D.A. Market share Marketing strategy of HDFC SL Conclusion Suggestion Limitation Bibliography

39-44 45-61 62-69 70-71 72-73 74-76 77 78 79

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INTRODUCTION TO THE COMPANY

COMPANY PROFILE OF HDFC STANDARD LIFE INSURANCE COMPANY LTD

ABOUT HDFC STANDARD LIFE INSURANCE HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a Group Company of the Standard Life, UK. HDFC as on December 31, 2007 holds 72.38 per cent of equity in the joint venture. HDFC STANDARD LIFE INSURANCE PARENTAGE HDFC Limited. HDFC is India leading housing finance institution and has helped build more In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr. As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The Rated AAA by CRISIL and ICRA for the 10th consecutive year Stable and experienced management High service standards Awarded The Economic Times Corporate Citizen of the year Award for its

than 23, 00,000 houses since its incorporation in 1977.

depositor base now stands at around 1 million depositors.

long-standing commitment to community development.Page | 9

Presented the Dream Home award for the best housing finance provider in 2004at the third Annual Outlook Money Awards.

Standard Life Group (Standard Life plc and its subsidiaries)

Standard Life Group (Standard Life plc and its subsidiaries) The Standard Life group has been looking after the financial needs of customers It currently has a customer base of around 7 million people who rely on the Its investment manager currently administers 125 billion in assets It is a leading pensions provider in the UK, and is rated by Standard & Poor's as

for over 180 years company for their insurance, pension, investment, banking and health-care needs

'strong' with a rating of A+ and as 'good' with a rating of A1 by Moody's

Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and 2006 atthe Money Marketing Awards, and it was voted a 5 star life and pensions provider at the Financial Adviser Service Awards for the last 10 years running. The '5 Star' accolade has also been awarded to Standard Life Investments for the last 10 years, and to Standard Life Bank since its inception in 1998. Standard Life Bank was awarded the 'Best Flexible Mortgage Lender' at the Mortgage Magazine Awards in 2006

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HISTORY

HDFC Standard Life Insurance Co. Ltd was incorporated on 14th august 2000. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.) India and UK based Standard Life Company. Both the joint venture partners being one of the leaders in their respective areas came together in this 81.4:18.6 joint venture to form HDFC standard life insurance company limited.

The MD and CEO of HDFC Standard Life Mr. Deepak Satwalekar, has given the company new directions and has helped the company achieve the status it currently enjoys. HDFC Standard Life brings to you a whole range of insurance solutions be it group or individual or NAV services for corporations, they can be easily customized as per specific needs.

HDFC Standard Life Insurance India boasts of covering around 8.7 lakh lives by March'2007. The gross incomes standing at a whopping Rs. 2, 856 crores, HDFC Standard Life Insurance Corporation is sure to become one of the leaders and the first preference for any life insurance customer.

The Bancassurance partners of HDFC Standard Life Insurance Co Ltd are HDFC, HDFC Bank India Limited, Union Bank of India, Indian Bank, Bank of Baroda, Sarawat Bank and Bajaj Capital.

The premium payment options available to the customers vary from online paymentPage | 11

to direct desk payments at the HDFC Standard Life Branches, by courier services or in drop boxes provided. You can also pay by ECS or Automatic Debit System or credit cards or standing instruction mandate. HDFC Standard Life Insurance Company is a customer oriented corporation and aim at complete customer satisfaction. The lapsation and renewal policy of HDFC Standard Life are clearly defined on the official website. Online renewal forms are also available. For any change in personal details like the contact details or the nominee of the policy or policy benefits, online servicing is also available. Even the claim procedure has been simplified since affect of the loss life is irreparable and is thus fully understandable at HDFC Standard Life. A completely hassle-free process has been formulated to provide maximum convenience.

HDFC Standard Life first came together for a possible joint venture, to enter the Life Insurance market, in January 1995. It was clear from the outset that both companies shared similar values and beliefs and a strong relationship quickly formed. In October 1995 the companies sig

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