Final Project by Guru - Copy

8/2/2019 Final Project by Guru - Copy

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PROJECT REPORT

ON

CUSTOMER RELATIONSHIP MANAGEMENTWITH

RELIGARE SECURITIES LTD

BYGurvinder Singh

Religare Securities LimitedSummer Internship Project

(Batch 2009-2011)


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PROJECT

ONCUSTOMER RELATIONSHIP MANAGEMENT

WITHRELIGARE SECURITIES LTD

COMPANY GUIDE FACULTY GUIDE

Mr. Balwinder Singh Prof. B.S.HundalBranch Manager, G.N.D.U.Religare Securities ltd. AmritsarMohali

SUBMITTED BY

GURVINDER SINGH


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ACKNOWLEDGEMENT

It is said, the most important single word is WE and the zero

important single word is I. This true even in todays modern era. It

is absolutely impossible for a single individual to complete the

assigned job without help and assistance from others.

It is my greatest pleasure to acknowledge sincere gratitude towards

Mr. Balwinder Singh (Branch Head), Mr. Ashwani Bhardwaj (Sr.

Relationship Manager) and Mr. Raman Kumar Saili (Project Head)

Religare Securities Ltd. Mohali, for the completion of the projectwork.

I would also like to acknowledge to my sincere gratitude to our

university facultyfor helping me in this project work.

I am thankful to all of my friends and batch mates for their help in

completing this project work. Finally, I am thankful to my entire

family members for their great support and encouragement.

GURVINDER SINGH


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Declaration

I hereby declare that this report on CUSTOMER RELATIONSHIP

MANAGEMENT AT RELIGARE SECURITIES LTD. hasbeen

written and prepared by me during the academic year 2009-2010.This

project was done under the able guidance and supervision of Prof.

B.S.Hundal, Faculty, Guru Nanak Dev University, Amritsar and Mr.

Balwinder Singh, Branch Manager, Religare Securities Ltd., Mohali

in partial fulfillment of the requirement for the Master of Business

Administration Degree course of the Guru Nanak Dev University.

I also declare that this project is the result of my own effort and has

not been submitted to any other institution for the award of any

Degree or Diploma.

Place: Mohali

Gurvinder Singh


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TABLE OF CONTENTS

Chapter 1. Rationale of the Study.

Chapter 2. Objectives of the study.Title of the project

Objective of the study

Scope of the study

Chapter 3. Profile of the company.

Chapter 4. Review of Literature.

Chapter 5. Research Methodology

Research DesignData Collection Methods / Sources

Sampling Plan which should include sampling unit,

sampling size and sampling methods viz. questionnaire

methods interview methods observation etc.

Chapter 6. Data Analysis and interpretations using various charts

and graphs

Chapter 7. FindingsChapter 8. Limitations (if any)

Appendix

Copies of questionnaire

Bibliography


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CHAPTER 1.

RATIONALE OF THE STUDY


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RATIONALE OF THE STUDY

Customer Relationship Management (CRM) is a business approachwhich recognizes the importance of customers as the driving force

behind the success of failure of any business. It enables the business

organization to maintain, analyze and act upon the information which

the business identifies as relevant to improve its relationships with the

customer, and thus enhance its chances of success.

Customer Relationship Management (CRM) helps companies

improve the profitability of their interactions with customers while atthe same time making the interactions appear friendly through

individualization and personalization of services. This management

includes Data Mining with the help of which Customer Life Cycle can

be managed well in Acquiring new customers, increasing value of the

customers, retaining good customers.

The basic steps of Data Mining for effective CRM are:

1. Define Business Problem2. Build Marketing Database

3. Explore Data

4. Prepare data for modeling

5. Build Model

6. Deploy model and results

The company can then use the information to learn about the behavior

of its customers and improve the way it does a business. It can look at

recurring complaints from multiple customers to solve a problem

which would otherwise go unchecked with a normal formats and

management system of the company.

The main objective of my project is to find effective solution for the

Customer Relationship Management and accordingly increase thecredibility and profitability of the company. This study is more related


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to consumer behavior and perception about the facilities and

convenience provided by the company, Customer Satisfaction is

emphasized in this management.

o Helping an enterprise to enable its marketing departments toidentify and target their best customers, manage marketing campaigns

with clear goals and objectives, and generate quality leads for the

sales team.

o Assisting the organization to improve telesales, account, and sales

management by optimizing information shared by multiple

employees, and streamlining existing processes (for example, takingorders using mobile devices)

o Allowing the formation of individualized relationships with

customers, with the aim of improving customer satisfaction and

maximizing profits; identifying the most profitable customers and

providing them the highest level of service.

o Providing employees with the information and processes necessary

to know their customers, understand their needs, and effectively build

relationships between the company, its customer base, and

distribution partners.


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CHAPTER 2.

OBJECTIVE OF THE STUDY


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OBJECTIVE OF THE STUDY

A. Title of the project:Customer Relationship Management (CRM) with Religare Securities

B. Objective of the Study:

The objective of the project was to analyze Effective Customer

Relationship Management for Religare Securities Ltd. Mohali for

that we have to understand current CRM System and Services

provided from the company and its effect on Customer Needs,Satisfaction Level, their response and emotions. The objective of this

study to analyze existing customer satisfaction as those customers are

the key sources to new customers with respect to the performance,

sales efforts and sales service.

As the company stands second in India in aspect of turnover after

Kotak Mahindra Securities, its clear that it has very strong Customer

Relationship Management System and perfect people to handle itproperly for the benefit of customers and company as well.

Actual and personal meeting with existing customers and employees

has brought me to the reality of the effectiveness of the system and

their success. For analyzing the same factor I staked my whole

duration of the project and simultaneously for internal study and

market watch and other group assignments.

Questionnaire is based on the existing services and the satisfactionlevel of the existing customers which includes questions like Name,

Age, Gender, Income, Investment Frequency, feedback about services

which they are provided like conformation, calls, suggestions,

solutions on stuck money like dead investment and all.

On an average all the customers are happy with the company and look

forward to the growth of it.


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C. Scope of the study:

Scope the this study is it will assist Religare to get its own Customer

Relationship Management system mirror well and it will get all the

important things before eyes to apply all the possible ways to providea superb service to the customers and accordingly make them loyal

and retain them long lasting and also to get new customers to be

served.

Scopes can be stated in few points as follows.

o Maintain current / existing customers.

o Achieve new potential customers.

o Retain all the customers.o Profitability Increment

o Reputation and credibility Increment, etc.

The heart of CRM is not being customer centric but rather to use

customer profitability as a driver for decision making and action.

Before exploring this assertion, it is useful to review the process ofresource allocation as it is practiced in most organizations. The budget

process largely consists of an extrapolation of the past. Resource

constraints pit function against function with back room deals that are

based on internal politics versus the marketplace. This decision

process has little insight as to what is working and what is not

working (as it applies to the marketplace) or for that matter why?

Without insight relative to cause and effect, the organization has nochoice but to follow intuition and anecdote. It is analogous to the

story about the marketing VP who admitted that half the advertising

budget was wasted; the problem was he did not know which half.


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CHAPTER 3.

PROFILE OF THE COMPANY


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Profile of company

Religare Enterprises Ltd.

eligare Enterprises ltd (REL), incorporated in 1984 and

promoted by RANBAXY (now by Mr.Malvinder Singh and

Mr. Shivinder Singh), is the holding company of 11

subsidiaries. It is among the leading integrated financial services

group in the country today. Religare is a diversified financial services

group of India offering a multitude of investment options. Each of its

subsidiaries is engaged in a wide spectrum of financial products andservices targeted at retail, high-net worth individuals, corporate and

institutional clients.

The services offered by the group include Share Broking, Financing

loans against shares, IPO financing, distribution of Mutual funds,

Insurance Broking, Commodity broking, Wealth Management,

Advisory Services, Private Equity, merchant banking and trading in

arts and articrafts. The major revenue drivers for the company are itsretail equity broking arm Religare Securities and Religare Finvest,

which finances loans against shares.

Religare has been constantly innovating in terms of product and

services and to offer such incisive services to specific user segments it

has also started the NRI, FII, HNI and Corporate Servicing groups.

These groups take all the portfolio investment decisions dependingupon a clients risk / return parameter.

Religare has a very credible Research and Analysis division, which

not only caters to the need of our Institutional clientele, but also gives

their valuable inputs to investment dealers.

R


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RSL is a member of the National Stock Exchange of India, Bombay

Stock Exchange of India, Depository Participant with National

Securities Depository Limited and Central Depository Services (I)

Limited, and is a SEBI approved Portfolio Manager.

Our Brand Identity

NameReligare is a Latin word that translates as 'to bind together'. This name

has been

Chosen to reflect the integrated nature of the financial services the

company offers. The name is intended to unite and bring together the

phenomenon of money and wealth to coexist and serve the interest of

individuals and institutions, alike.

SymbolThe Religare name is paired with the symbol of a four-leaf clover.

The four-leaf

Clover is used to define the rare quality of good fortune that is the aim

of every financial plan. It has traditionally been considered good

fortune to find a single four leaf clover considering that statistically

one may need to search through over 10,000 three-leaf clovers to even

find one four leaf clover.

Each leaf of the four-leaf clover has a special meaning in the sphere

of Religare.

The first leaf of the clover represents H ope. The aspirations to

succeed. The dream of becoming. Of new possibilities. It is the


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beginning of every step and the foundations on which a person

reaches for the stars.

The second leaf of the clover represents T rust. The ability toplace ones own faith in another. To have a relationship as partners in

a team. To accomplish a given goal with the balance that brings

satisfaction to all not in the binding but in the bond that is built.

The third leaf of the clover represents C are. The secret

ingredient that is the triumph of diligence in every aspect. From it

springs true warmth of service and the ability to adapt to evolvingenvironments with consideration to all.

The fourth and final leaf of the clover represents G ood F

ortune. Signifying

that rare ability to meld opportunity and planning with circumstance

to generate those often looked for remunerative moments of success.

H opes, T rust, C are, G ood fortune. All elements perfectly

combine in the emblematic and rare, four-leaf clover to visually

symbolize the values that bind together and form the core of the

Religare vision.

VISION & MISSION

Companys Vision Providing integrated financial care driven by the relationship of trust

and confidence.

Companys Mission


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To be India's first Multinational providing complete financial

services solution across the globe.

Brand EssenceCore brand essence is Diligence and Religare is driven by ethical and

dynamic processes for wealth creation.

History and background

RELIGARE Securities Ltd. (RSL)was a wholly owned subsidiary

of RELIGARE Financial Services Ltd. (RFSL), a Company promoted

by the late Dr.Parvinder Singh, Ex-CMD of Ranbaxy Laboratories

Ltd.

The primary focus of Religare Securities Ltd. is to cater to services in

Capital Market Operations to Institutional Investors. The Company is

a member of the National Stock Exchange (NSE) and OTCEI. The

growing list of financial institutions with whom RSL is empanelled as

approved Broker is a reflection of the high levels of servicesmaintained by the Company.

REL operates from seven domestic regional offices, 43 sub-regional

offices, and has a presence in 498* cities and towns controlling

1,837* business locations all over India.

Religare has grown rapidly from what was largely equity trading

company into a diversified financial services company operatingthrough its 11 subsidiaries.

As on June 30, 2008, Religare has operations at 1,575 locations across

465 cities and towns and a large management team leading group of

over 9,500 employees.

Recently acquired Hichens, Harrison & Co. (Hichens), one ofThe oldest broking firm in London, for a sum of GBP 55.5 million.


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Acquisition to boost the institutional and investment banking

operations of Religare and extend its geographical reach to London,

South Africa, Argentina, Brazil, Dubai, Qatar, Singapore, Malaysiaand Indonesia.

In India Religares geographical distribution is shown as follows:


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Religare Enterprises Ltd.


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Religares Joint Ventures

AEGON RELIGARE LIFE

INSURANCE COMPANYLife insurance Business (AEGON as apartner)For more for more information log on tohttp://www.aegonreligare .com

RELIGARE MACQUARIE WEALTH

MANAGMENT LTD.PrivateWealthBusiness (Macquarie,

AustralianFinancial Services major as a partner)For more information log on tohttp://www.religaremacquarie.com

Vistaar Religare -The Film FundIndias first SEBI approved

filmfund(Vistaaras a partner)For more information log on tohttp://www.vistaarreligare.com

Milestone ReligarePrivate equity Fund

Milestone, one of Indias premierindependent

Fund houses and Religare have cometogether and trough the JV have formed anentity, Milestone Religare investmentadvisors pvt ltd.For more information log on
http://www.religaremacquarie.com/http://www.religaremacquarie.com/http://www.vistaarreligare.com/http://www.vistaarreligare.com/http://www.vistaarreligare.com/http://www.religaremacquarie.com/


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http://www.milstonereligare.com

Other Group Companies

Fortis Healthcare Limited, established 1996

was founded on the vision of creating an

integrated healthcare delivery system. With 22

hospitals in India, including multi-specialty & super specialty centres,

the management is aggressively working towards taking this number

to a significant level in the next few years to provide qualityhealthcare facilities and services across the nation.

Super Religare Laboratories Limited

(formerly SRL Ranbaxy) within 11 years of

inception has become the largest Pathological Laboratory network in

South Asia. It started a revolution in diagnostic services in India by

ushering in the most specialized technologies, backed by innovation

and diligence. The current footprint extends well beyond India in the

Middle East and parts of Europe.

For more information log on to:http://www.srl.in/

Religare Wellness Limited (formerly Fortis

Healthworld) is

one of the leadingplayers in the wellness

retail space with a footprint of over 100 stores across India. The group

envisages setting up a pan India world class retail network of wellness

stores that would provide comprehensive solutions under one roof.
http://www.milstonereligare.com/http://www.milstonereligare.com/http://www.srl.in/http://www.srl.in/http://www.srl.in/http://www.srl.in/http://www.milstonereligare.com/


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For more information log on to:

http://www.religarewellness.com:8080/default.html

Religare Technova Limited (formerly

Fortis Financial Services Limited)

Religare Enterprises Limited Key Data:

Ticker: 532915 Country: INDIA

Exchanges: BOM Major Industry: Financial

Sub Industry:SecuritiesBrokerage

2010 Sales

16,718,848,000(Year Ending Jan2011).

Employees: N/A

Currency: Indian Rupees Market Cap: 52,403,658,000

Fiscal Yr

Ends:March

Shares

Outstanding:127,813,800

Share Type: OrdinaryClosely Held

Shares:42,765,660
http://www.religarewellness.com:8080/default.htmlhttp://www.religarewellness.com:8080/default.htmlhttp://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C35600120http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C35600120http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C35600120http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C35600120http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C35600120http://www.religarewellness.com:8080/default.html


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Religare Finvest

Religare Finvest Limited (RFL), a Non Banking Finance Company

(NBFC) is aggressively making a name in the financial services arenain India. In a fast paced, constantly changing dynamic business

environment, RFL has delivered the most competitive products and

services. RFL is primarily engaged in the business of providing

finance against securities in the secondary market. It also provides

finance for application in Initial Public Offers to non-retail clients in

the primary market

RFL is also planning to initiate personal loan portfolio as fund basedactivity and mutual fund distribution as fee based activities Along

with this, the company also undertakes non-fund based advisory

operations in the field of Corporate Financing in the nature of Credit

Syndication which includes bills discounting, intercorporate deposit,

working capital loan syndication, placement of private equity and

other structured products

Religare Insurance Advisory Ltd.

Religare has been taking care of financial services for long but there

was a missing link. Financial planning is incomplete without

protective measure i.e. structured products to take care of event of

things that may go wrong consequently; Religare is soon coming up

with Religare Insurance Advisory Services Limited.

As composite insurance broker, we would deal in both insurance and

reinsurance, providing our clients risk transfer solutions on life and

non-life sides.

This service will take benefit of Religares vast business empire

spread throughout the country -- providing our valued clients

insurance services across India. We aim to have a wide reach with our

servicesliterally! Thats why we are catering the insurance


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requirements of both retail and corporate segments with products of

all the insurance companies on life and non-life side Still, there is

more in store. We also cater individuals with a complete suite of

insurance solutions, both life and general to mitigate risks to life andassets through our existing network of over 150 branchesexpected

to reach 250 by the end of this year! For corporate clients, we will be

offering value based customized solutions to cover all risks which

their business is exposed to. Our clients will be supported by an

operations team equipped with the best of technology support.

Religare Insurance Advisory aims to provide neutral, transparent and

professional risk transfer advice to become the first choice of India

Religare Securities ltd.

PRODUCT AND SERVICES

Religare customers have the advantage of trading in all the market

segments together in the same window, as we understand the need of

transactions to be executed with high speed and reduced time. At the

same time, they have the advantage of having all kind of insurance &

Investment Advisory for Life insurance, General Insurance, Mutual

Funds.

Religare is a customer focused financial services organizationproviding a range of investment solutions to our customers. We work

with clients to meet their overall investment objectives and achieve

their financial goals. Our clients have the opportunity to get

personalized services depending on their investment profiles. Our

personalized approach enables clients to achieve their Total

investment objectives.

Our key product offerings are as follows:


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Equity Broking - BSE and NSE

Derivatives Futures and Options

Internet Broking- Online Trading

Commodities Trading - NCDEX & MCX

Institutional Broking

Depository Services - NSDL & CDSL

Portfolio Management Services

NRI Investments

Initial Public Offerings (IPO)

Mutual Fund Investment

Equity Trading

Trading in Equities with Religare truly empowers you for yourinvestment needs. We ensure you have superlative trading experiencethrough

A highly process driven, delight approach

Powerful Research & Analytics and

One of the best-class dealing rooms

Further, Religare also has one the largest retail networks, with itspresence in more than 1800* locations across more than 490* citiesand towns. This means, you can walk into any of these branches andconnect to our highly skilled and dedicated relationship managers toget the best services.

Religare Enterprise Limited, through its subsidiaries, offers a range ofintegrated financial products and services to retail inventors, high networth individuals, and corporate and institutional clients in India. It

operates in three divisions: Retail Spectrum, Wealth Spectrum, and


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Institutional Spectrum. The Retail Spectrum division offers equitybrokerage, commodities brokerage, personal financial services,including insurance brokerage and mutual fund distribution; internettrading; loans against shares; and personal loans. The WealthSpectrum division provides portfolio management services, wealthadvisory services, and private client equity services, such asinternational equity services. The company was formerly known asReligare Enterprises Private Limited and changed its name to ReligareEnterprises Limited in July 2006. The company was incorporated in1984 and is based in New Delhi, India.


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Industry Profile

While regulation and reforms have made major improvements in the

quality of the equity markets in India, its rapid growth and

development are largely due to strong and efficient market

intermediation. The robustness of the Indian markets today is

attributable to a healthy blend of the quality of market Structure and

efficient intermediation. Even as several countries are instituting

procedures to commence. Equity derivative markets, India ranksamongst the top five countries globally in this segment, in less than

five years of its introduction. This is an example of the proactive and

progressive nature of the Indian brokerage industry.

In the last decade, the Indian brokerage industry has undergone a

dramatic transformation. From being made of close groups, the

broking industry today is one of the most transparent and compliance

oriented businesses. Long settlement cycles and large scale baddeliveries are a thing of the past with the advent of T+2 (Trading day

+ 2 days) settlement cycle and dematerialization. Large and fixed

commissions have been replaced by wafer thin margins, with

competition driving down the brokerage fee, in some cases, to a few

basis points.

There have also been major changes in the way business is conducted.

Technology has emerged as the key driver of business and investmentadvice has become research based. At the same time, adherence to

regulation and compliance has vastly increased. The scope of services

have enhanced from being equity products to a wide range of

financial services. Investor protection has assumed significance, and

so has providing them with education and awareness. Greater need for

capitalization has induced several firms to access the capital market;


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foreign firms are showing increasing interest in taking equity stakes in

domestic broking firms.

Major developments in equity brokerage industry in

India:

1. Corporate memberships

There is a growing surge of corporate memberships (92% in NSE and

75% in BSE), and the scope of functioning of the brokerage firms has

transformed from that of being a family run business to that of

professional organized function that lays greater emphasis on

observance of market principles and best practices. With proliferation

of new markets and products, corporate nature of the memberships is

enabling broking firms to expand the realm of their operations into

other exchanges as also other product offerings. Memberships range

from cash market to derivatives to commodities and a few broking

firms are making forays into obtaining memberships in exchanges

outside the country subject to their availability and eligibility.

2. Wider product offerings

The product offerings of brokerage firms today go much beyond the

traditional trading of equities. A typical brokerage firm today offers

trading in equities and derivatives, most probably commodities

futures, exchange traded funds, distributes mutual funds and

insurance and also offers personal loans for housing, consumptions

and other related loans, offers portfolio management services, and

some even go to the extent of creating niche services such as a

brokerage firm offering art advisory services. In the background of

growing opportunities for

investors to invest in India as also abroad, the range of products and

services will widen further.

In the offing will be interesting opportunities that might arise in the

exchange enabled corporate bond trading, soon after its


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commencement and futures trading that might be introduced in the

near future in the areas of interest rates and Indian currency.

3. Greater reliance on researchClient advising in India has graduated from personal insights, market

tips to becoming extensively research oriented and governed by

fundamentals and technical factors. Vast progress has been made in

developing company research and refining methods in technical and

fundamental analysis. The research and advice are made online giving

ready and real time access to market research for investors and

clients, thus making research important brand equity for thebrokerage firms.

4. Accessing equity capital markets

Access to reliable financial resources has been one of the major

constraints faced by the equity brokerage industry in India since long.

Since the banking system is not fully integrated with the securitiesmarkets, brokerage firms face limitations in raising financial

resources for business and expansion. With buoyancy of the stock

markets and the rising prospects of several well organized broking

firms, important opportunity to access capital markets for resource

mobilization has become available. The recent past witnessed several

leading brokerage firms accessing capital markets for financial

resources with success.

5. Foreign collaborations and joint ventures

The way the brokerage industry is run and the manner in which

several of them pursued growth and development attracted foreign

financial institutions and investment banks to buy stakes in domestic

brokerage firms, paving the way for stronger brokerage entities and

possible scope for consolidation in the future. Foreign firms picked upstake in some of the leading brokerage firms, which might lead to


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creating of greater interest in investing in brokerage firms by entities

in India and abroad.

6. Specialized services/niche brokingWhile supermarkets approach are adopted in general by broking

firms, there are some which are creating niche services that attract a

particular client group such as day traders, arbitrage trading, investing

in small cap stocks etc, and providing complete range of research and

other support to back up this function.

7. Online brokingSeveral brokers are extending benefits of online trading through

creation of separate windows. Some others have dedicated online

broking portals. Emergence of online broking enabled reduction in

transaction costs and costs of trading. Keen competition has emerged

in online broking services, with some of these offering trading

services at the cost of a few basis points or costs which are fixed in

nature irrespective of the volume of trading conducted. A wide rangeof incentives are being created and offered by online brokerage firms

to attract larger number of clients.

8. Compliance oriented

With stringent regulatory norms in operation, broking industry is

giving greater emphasis on regulatory compliance and observance of

market principles and codes of conduct. Many brokerage firms are

investing time, money and resources to create efficient and effective

compliance and reporting systems that will help them in avoiding

costly mistakes and possible market abuses. Brokerage firms now

have a compliance officer who is responsible for all compliance

related aspects and for interacting with clients and other stake holders

on aspects of regulation and compliance.


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9. Focus on training and skill sets

Brokerage firms are giving importance and significance to aspects

such as training on skill sets that could prove to be beneficial in the

long run. With the nature of markets and products becoming morecomplex, it becomes imperative for the broking firms to keep their

staff continuously updated with latest development in practices and

procedures. Moreover, it is mandated for certain types of

dealers/brokers to seek specific certification and examinations that

will make them eligible to carry business or trade. Greater emphasis

on aspects such as research and analysis is giving scope trading

conducted. A wide range of incentives are being created and offeredby online brokerage firms to attract larger number of clients.

10. From owners to traders

A fundamental change that has taken place in the equity brokerage

industry, which is a global trend as well, is the transformation of

broking from owners of the stock exchange to traders of the stock

market. Demutualization and corporatization of stock exchanges

bifurcated the ownership and trading rights with brokers vested only

with the later and ownership being widely distributed.

Demutualization is providing balanced welfare gains to both the stock

exchanges and the members with the former being able to run as

corporations and the latter being able to avoid conflict of interests that

sometimes came as a major deterrent for the long term growth of the

industry.

Emerging challenges and outlook for the brokerage industry

.Brokerage firms in India made much progress in pursuing growth and

building professionalism in operations. Given the nature of the

brokerage industry being very dynamic, changes could be rapid and

so as the challenges that emerge from time to time. A brief description

on some of the prospects and challenges of the brokerage firms are

discussed below.


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11. Fragmentation

Indian brokerage industry is highly fragmented. Numerous small

firms operate in this space. Given the growing importance oftechnology in operations and increasing emphasis on regulatory

compliance, smaller firms might find it constrained to make right type

of investments that will help in business growth and promotion of

investor interests.

12. Capital Adequacy

Capital adequacy has emerged as an important determinant thatgoverns the scope of business in the financial sector. Current

requirements stipulation capital adequacy in regard to trading

exposure, but in future more tighter norms of capital adequacy might

come into force as a part of the prudential norms in the financial

sector. In this background, it becomes imperative for the brokerage

firms to focus on raising capital resources that will enable to give

continuous thrust and focus on business growth.

13. Global Opportunities

Broking in the future will increasingly become international in

character with the stock markets being open for domestic and

international investors including institutions and individuals, as also

opportunities for investing abroad. Keeping abreast with

developments in international markets as also familiarization withglobal standards in broking operations and assimilating major

practices and procedures will become relevant for the domestic

brokerage firms.

14. Opportunities from regional finance

Regional economic integration such as that under the European Union

and the ASEAN have greatly benefited businesses in the individualcountries with cross border opportunities that helped to expand the


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scope and significance of the business. Initial measures to promote

South Asian economic integration is being made by governments in

the region first at the political level to be followed up in regard to

financial markets. South Asian economic integration will providegreater opportunities for broking firms in India to pursue cross border

business. In view of several of common features prevailing in the

markets, it would be easier to make progress in this regard.

15. Product Dynamics

As domestic finance matures and greater flow of cross border flows

continue, new market segments will come into force, which couldbenefit the domestic brokerage firms, if they are well prepared. For

instance, in the last three to four years, brokerage firms had newer

opportunities in the form of commodities futures, distribution of

insurance products, wealth management, mutual funds etc, and as the

market momentum continues, broking firms will have an opportunity

to introduce a wider number of products.

16. Competition from foreign firms

Surging markets and growing opportunities will attract a number of

international firms that will increase the pace of competition. Global

firms with higher levels of capital, expertise and market experience

will bring dramatic changes in the brokerage industry space which the

local firms should be able to absorb and compete. Domestic broking

firms should always give due focus to emerging trends in competitionand prepare accordingly.

17. Investor Protection

Issues of investor interest and protection will assume centre stage.

Firms found not having suitable infrastructure and processes to ensure

investor safety and protection will encounter constraints fromregulation as also class action suits that investors might bring against


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erring firms. The nature of penalties and punitive damages would

become more severe. It is important for brokerage firms to establish

strong and streamlined systems and procedures for ensuring investor

safety and protection.


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Chapter 4.

Literature Review


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Literature Review

Historical Background:

Customer relationship management (CRM), a concept that has beenaround since the mid 90s, has its roots in the technology of sales

automation and call center operations. At that time, it was thought that

merging the customer data from the field (sales) with the call center

interactions would result in more informed interactions with the

customer. The concept resonated with user organizations and soon

mergers and acquisitions created a host of software vendors all

claiming to have an integrated set of capabilities that became knownas CRM.

On a parallel track, Internet-based tools such as e-commerce, Internet

marketing, personalization, and self-help were evolving. These

products competed outside of the CRM sphere due to the newness of

the technology, and they were referred to as e-business. When the

concepts of CRM and e-business melded together there was a shortperiod of e-madness where vendors talked about eCRM and e-

everything. There are still vestiges of this transition in the industry

such as essentially using e-business to add value to vendors and

referring to it as partner relationship management (PRM) or providing

tools for employees and referring to it as employee relationship

management (ERM).

Similarly, enterprise resource planning (ERP) vendors realized thatthe 360-degree view of the customer has to include transaction data,

so they have likewise developed an integrated package with CRM

capabilities.

Thus from a technology perspective CRM consists of a set of

applications that address the needs of customer-facing functions that

in turn feed a common database that is supported by business

analytics. Each vendor has variations on this theme.


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On the other hands, CRM can be defined as a process or methodology

used to learn more about customers needs and behaviors in order to

manage and develop stronger relationships in an organized way withthem.

Components of CRM:

1. Contact an Account Management:

Relevant data for customer profile is captured with the help of thesoftware.

Necessary information is captured from prospective customers. CRM

system stores data in common customer database. The database

integrates customer account information and presents it in desirable

format to the company. The data is used for sales, marketing, services

and other applications.

2. Sales:

Sales process management follows a customized sales methodology

with specific sales policies and procedures. Sales activities include

Product information, Product configuration, sales prospectus and sales

quote generation. CRM also provide the history of customer account

so that the sales call can be scheduled accordingly.

3. Marketing and fulfillment:

CRM helps the professionals in product marketing, target marketing,

relationship marketing and campaign management. By analyzing

customer and business value of direct marketing can be estimated.

CRM also helps in customer retention, behavior prediction, channel

optimization, personalization. Customer response and requests can be

quickly scheduled and hence sales contacts.


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4. Customer Service and support:

CRM system provides service representatives with adequate access to

customer database. It also helps to create, assign and manage theservice requests by customers. Calling format is designed to route

customer calls to respective attendants as per the skills and authority

to handle special cases. Help desk system is developed to help

customer service representative to help customers who face problems

with product or service to resolve it. Web-based Self Service means

help customer to access personalized information at company website.

5. Retention and loyalty programs:

The primary objective of CRM is to enhance and optimize customer

retention and loyalty. CRM systems are also useful in determining

most loyal and profitable customers and reward. The essential link

between Marketing, Sales and Customer Service: Too often, the three

key functions that directly affect customers -Marketing, Sales and

Customer Serviceoperate independently of one another. This cancreate confusion and inconsistency in how you communicate and

service your customers. For examples, marketing staff may come up

with a price promotion. However, if that is not communicated to the

sales team, the result could be incorrect billing, which may take time

or resources from the customer to rectify and could create ill will and

mistrust, making it seem like your company does not adhere to its

word.

Similarly, if a salesperson makes a sale and gives certain guarantees

to a customer but those are not communicated to the customer service

team or even to the other sales team members, then the customer may

fees as if the company is not standing behind its assurance. This can

be particularly problematic if there is employee turnover and poor

communication between or even departments. This silo effect

where information is between vertically in departments that may or


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may not communicate with each other- could actually damage your

business.

With comprehensive CRM system, however, customer

communication is captured and housed in an accessible database,

making the most current information available to anyone who needs it

and has access to the system. By breaking through barriers between

various business functions and making communication transparent,

your company can act in a more consistent and unified fashion with

its customers, instilling a greater level of trust and strengthening

customer relationships.

Religare Securities Limited (RSL) provides a host of financial

services under one roof following a ONE STOP SHOP philosophy. It

has a dedicated team of professionals to cater to the variety of

services to Individuals, Corporate and Institutions. The team updates

its clients with opportunities - with a sense of competitive urgency

and risk management. Whats more, their special analysts design

customized services for HNI and Institutions.

Over the years Religare Securities Ltd. has played a successful role in

client's wealth creation. In the process Religare Securities Ltd. also

refined itself, as an investment advisor and is poised to provide

complete Investment Management Solutions to its valued clientele.

The following is the product profile of the company.

- BSE and NSE

- Online Trading

- NCDEX & MCX

- NSDL & CDSL


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Initial Public Offerings (IPO)

NEWS:

Religare Securities bags LIPPER-STARMINE Award for Excellence

in Research Mumbai, February 18, 2009: Religare Securities Limited

a wholly owned subsidiary of Religare Enterprises Limited has been

recently awarded the LIPPER-STARMINE broker award for"Earnings Estimates in Midcap Research for 2008". The Lipper|

StarMine Awards organized by Thomson Reuters, for Asset

Management and sell-side broking Companies in India, were

announced last week in Mumbai. The awards recognize analysts who

are more accurate than their peers in forecasting earnings, awarding

credit to those who demonstrate an ability to make accurate estimates

earlier than their peers.On receiving the award, Mr. Amitabh Chakraborty, President

(Equity), said, "We are extremely proud to receive this award as a

validation of our efforts in what was the most difficult and volatile

year in stock market and corporate history. It is in these difficult times

that the ability of a team to accurately estimate corporate earnings

stands its truest test and we have succeeded in enabling our customers

to make informed buy or sell recommendations in order to give aboveaverage returns to investors."

Religare Buys Citis Reverse Mortgage Biz

Religare Enterprises Ltd.(REL), a financial service firm owned by

billionaire brothers Malvinder Singh and Shivinder Singh, has

acquired a part of citi group home loan profile in India for about Rs.

500 crores.


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REL, through its wholly-owned non-banking finance company,

Religare Finvest, has bought the home equity business of citi group in

the country the division leads money against the property already

owned by a self employed businessman. The unit doesnt lead to retailconsumers who want to mortgage their property.

The demographic of the citis home equities customers perfectly

suited us in terms of their assets, locations and profile, Kavi Arora,

CEO at Religare finvest, told ET adding the transfer process is

expected to be completed by Sep.

A source at citi bank described the transaction as a small portfolio

sale as a part of a routine transaction . Such assets sold substituted byfresh organizations, he said.

Citi groups total home loan business, including the home financing

an mortgage part, is around rs 9000 cr. The home equity business has

about 1700 contracts with around rs 500 cr. Assets under mgt, Mr.

Kavi Arora.

Religare finvest already provide mortgage finance to SMEs,

equipment companies and infrastructure firm at annual interestbetween 11.5 - 12.5 %. Besides, it also provides IPO financing to

private-held firms.

Established in 2006, Religare finvest currently employs over 400

people and is present across 23 cities. Buyout of Citis home equity

business will take Religare Finvests assets to Rs 3300 Cr from Rs

2800 Cr at present. The firm aims to create assets worth over Rs

10000 by 2012.The deal is part of RELS expansion drive which includes a plan to

invest $1bn (Rs 4600 Cr) globally for strategic investments.

News from The Economic Times, 15th July, 2010.


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Equities

What is equity?

Funds brought into a business by its shareholders is called equity. It is

a measure of a stake of a person or group of persons starting a

business.

What does investing in equity mean?

When you buy a company's equity, you are in effect financing it, and

being compensated with a stake in the business. You become part-

owner of the company, entitled to dividends and other benefits that

the company may announce, but without any guarantee of a return on

your investments.

Dematerialization

What is Demat?Demat is a commonly used abbreviation of Dematerialisation, which

is a process whereby securities like shares, debentures are converted

from the "material" (paper documents) into electronic data and stored

in the computers of an electronic Depository. You surrender material

securities registered in your name to a Depository Participant (DP).

These are then sent to the respective companieswho cancel them after

dematerialization and credit your Depository Account with the DP.

The securities on dematerialization appear as balances in the

Depository Account. These balances are transferable like physical

shares. If at a later date you wish to have these "Demat" securities

converted back into paper certificates, the Depository can help to

revive the paper shares.


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What is the procedure for the dematerialisation of

securities?

Check with a DP as to whether the securities you hold can be

dematerialised. Then open an account with a DP and surrender theshare certificates.

What is a Depository?

A Depository is a securities "bank," where dematerialised physical

securities are held in custody, and from where they can be traded.

This facilitates faster, risk-free and low cost settlement. A Depository

is akin to a bank and performs activities similar in nature.

At present, there are two Depositories in India, National Securities

Depository Limited (NSDL) and Central Depository Services (CDS).

NSDL was the first Indian Depository.

It was inaugurated in November 1996. NSDL was set up with an

initial capital of Rs 124 crores, promoted by Industrial Development

Bank ofIndia (IDBI), Unit Trust of India (UTI), National Stock

Exchange of India Ltd. (NSEIL) and the State Bank of India (SBI).

Who is a Depository Participant (DP)?

NSDL carries out its activities through business partners - Depository

Participants (DPs), Issuing Corporates and their Registrars and

Transfer Agents, Clearing Corporations/Clearing Houses. NSDL is

electronically linked to each of these business partners via a satellite

link through Very Small Aperture Terminals (VSATS). The entire

integrated system (including the VSAT linkups and the software at

NSDL and at each business partner's end) has been named the

"NEST" (National Electronic Settlement & Transfer) system. The

investor interacts with the Depository through a Depository

Participant of NSDL. A DP can be a bank, financial institution, a

custodian or a broker.


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Chapter 5.

Research Methodology


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Research Methodology

Research Design:

Research design means adopting that type technique of research

which is most suited for the research and study of the problem. For

the study and the research of the problem proper material has to be

selected and collected for the investigation.

A research design is the arrangement of conditions for collection and

analysis of data in a manner that aims to combine relevance to the

research purpose with economy in procedure. - Jahoda, deutish.

Cook.

In order to know about effectiveness of Customer Relationship

Management in Religare Securities Ltd., it was necessary to interact

with the customer. The sample taken comprised of respondents from

Pune city. A questionnaire had to be designed to collect valuable

information from the different customer groups. The questionnaire

which was designed suitably to meet the objective of research work.

Nature of Research:

In this project report I have undertaken quantitative type of study.

Type of the questions:The questions in the questionnaire asked to the visiting customers of

Religare Securities Ltd, Regional office in Pune, are Straight Forward

and Limited Probing.

Type of the Questionnaire:

The questionnaire in this project report is straight forward and

formalized.


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Type of Analysis:

The analysis done in this particular project report is statistical.

Sources of Data:

a. Primary Data:

The Primary data are those data which are collected fresh and for the

first time and thus happen to be original in character. The primary

data that was collected through interview conducted in Regional

Branch with daily visiting customers. The primary data sources

include copies of questionnaire and data of their respective responses.

b. Secondary Data:

The secondary data are those which have already been collected by

someone else and which have been passed through the statistical

process. Secondary data was collected through company websites.

Some of the web sites http://www.religaresecurities.com/ and some

others like.


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Chapter 6.

Primary Data Collection


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Primary Data Collection

Research Technique:

As the researcher, I adopted survey method as a research techniquefor this particular project report.

Contact Method:

I as a researcher interviewed the respondents by personal interview.

Sampling Plan:

a) Population:The population covered in this project report refers to the existing

(Office Coming) customers of Regional Office, who have their

trading and Dmat A/c with Religare Securities Ltd.

b) Sample Size

The sample size undertaken by me for this particular project report is

100 respondents.

c) Sample Element

The respondents contacted and interviewed in this project report are

all from different domain some of them were Businessmen, High Net-

worth Investors, Proprietors, even Students also invest in Share

Market.

d) Sample Extent

As a researcher, I conducted this survey only for the customers in

Regional Office of Religare Securities, Mohali.

e) Sample Duration

The survey was undertaken from the 01st June, 2010 to 15th July,

2010.


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f) Research Instrument:

Questionnaires containing both open ended and close ended questions

were used as a research instrument in this particular project report.


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Chapter 7.

Data Analysis & Interpretation


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Data Analysis & Interpretation

1. Respondents

Interpretation:

Above pie chart represents that research contains 100 respondents

which are Businessmen, HNIs, Proprietors and Individuals and they

are 30, 8, 24, 38 respectively in numbers and percentages.


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2. Income Group(Annual):

Interpretation:

Above pie chart represents that the research contained 100 investors

and customers of Religare Securities Ltd. All the people were from

different different Income group which are in numbers shown above.

W e can clearly see sample includes more customers from first

income group i.e. INR 10,0001 Lakh


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3. Company Interaction via Email and Telephone Calls:

Interpretation:

From the above result of Company Interaction via Email and

Telephone calls, we can imagine the satisfaction level of customersand accordingly Customer Relationship is managed through electronic

media to maximize the wealth of customers. In Religare mostly

dealers are in touch of regular traders / customers and customers also

get loyal to the company through this practice. Every call is taped by

default for the evidence of orders to buy or sell the stocks and Emails

too.


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4. Do you find companys investment tips useful and beneficial?

Interpretation:

When it was asked sudden and on the time answer was the same of

maximum people, it means the credibility and trustworthiness of thecompany is on the height. Its nothing but the result of Relationship

Management.

It is said that Share Market means Well of Loss, nevertheless

Religares Customer dont have any tension in investing because they

believe in Companys Researchers and Analysts and their investment

tips too.


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5. Where do you rate Religare on the scale of 10 in terms of

Services?

Interpretation:

From the above answers Customer Relationship can be very well

highlighted because out of 100, 43 people have rated Religare on the

scale of 1 to 10 and again in remaining maximum customers say that

they rate Religare at on the scale of 1 to 10.Every customer has his

own value and consideration about Religare because they invest their

Hard Earned money and take risk to earn more cause of Religares

Services and Attachment and it is all the output of Customer

Relationship Management.


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6. Where do you invest/ trade mostly?

Interpretation:

One general question was asked in questionnaire to know the

investment flow of customers towards Religare Services. When it was

asked why they invest in specific area mostly then it was answered by

many people that liquidity market is easy to make money out of

investment and take money out whenever we feel not to put. And

other reason many customers dont want to invest for long time.Andabout currency some people were not interested.


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7. Where do you trade mostly?

Interpretation:

From the above view of graph we come to know that maximum

people, 61% customers trade in Intraday Trading. On this customers

say they like to trade in Intraday because of Short term investment

and high level of excitement and sometimes they feel their money

seems to sink. Its like One Day Cricket play for many customers.


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In Delivery, people say here is No / Low Risk, More Money, in this

people say if scrip goes down like Satyam, then also we get chance

to book profit buying current stocks in low price and putting old stock

aside temporarily. Here we find people hesitate to invest in Intradayand confident to trade in Delivery trading.

Very less traders population do trade in both area, for few people its

nothing but fund managing, if one finds difficulty in making money in

Intraday, they simultaneously manage their fund for Delivery, but

very few people feel do this type of management.

Eventually Religare is the Broking firm and it doesnt lose its

attention from making money for its customers and lose its attentionfrom Customer Relationship Management.

8. Do you trade in any other broking firm?


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Interpretation:

Above pie chart represents the maximum people have their Dmat A/c

and Trading A/c somewhere else also nevertheless they say they trade

from Religare only and few of their other A/cs are put Non-Operatingby them.

Here we get a fact that Religares Customer Relationship

Management really has something very attractive and attachable to

emotions cause of services.

Few of them were hesitating while answering this question.

9. Are you satisfied with the services provided by Religare?


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Interpretation

Above chart represents us the output of Customer Relationship

Management with the help of the services and customers satisfaction

can show a mirror of the efforts of the company towards making their

customers loyal to them.

Here 64% customers have selected and stated that they are fully

satisfied with the services that they are getting from Religare

Securities Ltd.

10. Since last how many years you are in field of trading?

Interpretation:

This question was asked intentionally to know the loyalty of

customers with Religare Securities Ltd., which is nothing but the

back-screen coding of on screen output. These all things are the proud

of Religare and its customers are also very proud to be in Religare.


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Findings

Customer Relationship Management Business Drivers and Benefits

It empowers management with a real-time pipelines and forecasting

so they can build and focus on high profit, sustainable relationships.

and best practices to

increase their likelihood of successful transactions.

profitability by integrating information across the enterprise.

tomer insight.

Customer Relationship Management Risks

information from becoming scattered across databases and servers.

company only otherwise Customers Database can be misused by

rivals.

Customer Common Findings while contacting:

domains like Business, Proprietors, High Net worth Income Group

(HNIs) and students.


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Dealing Room.

but is this case it misrepresents the Reality and Credibility.

that this questionnaire is from Religare Securities internal.

people did not take it serious because this was not important

to them as they are busy for trading at dealing Room.

their results because this study is for only two months altogether.


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Chapter 8.

Limitations


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Limitations

Findings are according to the observations.

1. Many consultants, vendors, and analysts today define CRM interms of being a customer-centric business strategy that is enabled by

a set of applications that support customer-facing functions and

management decision making. That may capture the essence of what

CRM is, but while it does not concentrate on the extra expenses

occurring on Companys A/c due to increment in expenses in serving

customers all the ways and Return on investment means consideration

may not be more than expected. Customer may not give that muchbusiness transactions which is estimated or expected.

2. It needs specific staffs to handle all the tasks of Customer

Relationship Management because the data that is feed in system

cannot be handled merely by Relationship Managers who has to make

new customers and take care of their dealings and also to accomplish

their additional responsibilities.

Suggestions

1. Short Duration:

o Project research duration was only for six weeks, in this tenure

neither study nor observation can be done properly. For example, we

saw sample planin that only 100 customers could be contacted and

now the problem is- from this samples we cannot think of Macro

Level Perception of customers. Many people may be from same point

of view and many may not and those 100 people may not contain

these type of people. So duration of Research Project should be more

than two months.


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2. Customer Category:

o To find effective Customer Relationship Management, Broking firmcan do one more thing which will be very beneficial to them in

finding Asset Customers from the bottom level management to top

level management. Religare should adopt system of allotting

Customer Categories according to their transactions, due payments,

exposure, loyalty, frequency of trading and all.

o In this system at all the level where CRM is handled and watched

by Top class officials of the company, they also get to know the list

names and details of the loyal customers and CEO or Board of

Directors also get to know total customers and at last their turnover of

the total transaction.

3. Affiliated Awareness Programs:

o Religare should arrange affiliated programs within its own groups

to come to the sense of new people and accordingly to prospecting

and acquiring new customers.

o With the help of it companies CRM will help it to get height of

success and dominate the world of Services. Because CRM affectsMarketing, Sales and profitability and these all can be achieved by

CRM.

o For E.g., Religare Securities can play few awareness

documentaries and Advertisement with Religare Vistaar this will

result in getting more and more customers to serve and accordingly

Religare can become the first ranker in turnover very soon.


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Appendix

I. Copy of questionnaire

II. Bibliography


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Questionnaire

1. Name:________________________________________________

2. Contact No:________________________________________________

3. Occupation: Businessman Proprietor HNI Individual

4. Income Group(Annual): 10000 - 1 Lakh 1 Lakh - 5 Lakh

5 Lakh-10 Lakh 10 Lakh - Above

5. How do you find Company Interaction via Email and Telephone Calls ?

Poor Fair Good Very Good

6. Do you find companys investment tips useful and beneficial?

Yes No Cant Say

7. Where do you rate Religare on the scale of 10 in terms of

Services?

1-4 5-7 8-10

8. Where do you invest/ trade mostly?

EquityCommodityCurrency

9. Where do you trade mostly?

Intraday tradingDelivery Trading

10. Do you trade in any other broking firm?

Yes No


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If Yes, name of the broking firm_______________________

11. Are you satisfied with the services provided by Religare?

Yes No

12 Since last how many years you are in field of trading?

Less than 1 Year More Than 1 Year More than 5 Year

13. What improvement do you want be done in companys

services?

14. Which service do you like most in Religare?


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Bibliography

Websites

http://deadpresident.blogspot.comhttp://religareonline.com

http://www.religaresecurities.com

Newspapers

The Economic Times

Business Standard

Final Project by Guru - Copy

Documents