Kotak Mutual Fund123

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OVERVIEW

Kotak Mahindra is one of India's leading financial institutions. It is

offering complete financial solutions that encompass every sphere of

life. It has given facilities which is increasing from commercial banking,

to stock broking, to mutual funds, to life insurance, to investment

banking; the group caters to the financial needs of individuals and

corporate.

The group has a net worth of over Rs. 2,900 crore and has employs

around 8,800 people in its various businesses and also has a distribution

network of branches, franchisees, representative offices and satellite

offices across 282 cities and towns in India and offices in New York,

London, Dubai and Mauritius. The Group services are around 2 million

customer accounts.

THE JOURNEY SO FAR...

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In October 2005, Kotak Group acquired the 40% stake in Kotak Primeheld by Ford Credit International (FCI) and FCI acquired the stake in Ford

Credit Kotak Mahindra (FCKM) held by Kotak Group.

In May 2006, Kotak Group bought 25% stake held by Goldman Sachs inKotak Capital and Kotak Securities

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HISTORY

The Kotak Mahindra Group was born in 1985 as Kotak Capital

Management Finance Limited. This company was promoted by Uday

Kotak, Sidney A. A. Pinto and Kotak & Company. Industrialists Harish

Mahindra and Anand Mahindra took a stake in 1986, and that's when the

company changed its name to Kotak Mahindra Finance Limited.

Since then it's been a steady and confident journey to growth and

success.

1986 Kotak Mahindra Finance Limited started the activity of Bill Discounting

1987Kotak Mahindra Finance Limited entered the Lease and Hire Purchase

market

1990 The Auto Finance division was started

1991

The Investment Banking Division was started. Takes over FICOM, one

of Indias largest financial retail marketing networks

1992 Enters the Funds Syndication sector

1995

Brokerage and Distribution businesses incorporated into a separate

company - Kotak Securities. Investment Banking division incorporated

into a separate company - Kotak Mahindra Capital Company

1996

The Auto Finance Business was hived off into a separate company -

Kotak Mahindra Prime Limited (formerly known as Kotak Mahindra

Primus Limited). Kotak Mahindra takes a significant stake in Ford Credit

Kotak Mahindra Limited, for financing Ford vehicles. The launch of

Matrix Information Services Limited marks the Groups entry into

information distribution.

1998Enters the mutual fund market with the launch of Kotak Mahindra Asset

Management Company.

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2000

Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance

business.

Kotak Securities launches its on-line broking site (now

www.kotaksecurities.com). Commencement of private equity activitythrough setting up of Kotak Mahindra Venture Capital Fund.

2001

Matrix sold to Friday corporation Launches Insurance Serviceto Friday

Corporation

Launches Insurance Services

2003Kotak Mahindra Finance Ltd. converts to a commercial bank the first

Indian company to do so.

2004 Launches India Growth Fund, a private equity fund.

2005

Kotak Group realigns joint venture in Ford Credit; Buys Kotak MahindraPrime (formerly known as Kotak Mahindra Primus Limited) and sellsFord credit Kotak Mahindra.

CORPORATE IDENTITY

INTRODUCTION

What is a mutual fund?

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A mutual fund pools the money of people with similar investment goals.

The money in turn is invested in various securities depending on the

objectives of the mutual fund scheme. The profits (or loss) from such

investments are shared among investors in proportion to their

investments. Thus, depending on your investment horizon, risk tolerance

and required rate of return, you can choose from mutual fund schemes

that are:

1. Fixed income oriented, i.e. those that do not invest in shares, but

focus on fixed income instruments

2. Equity oriented i.e. those that invest predominantly in shares

3. Hybrid i.e. invest in a combination of equity and fixed income

instruments

A mutual fund scheme normally issue units at Rs.10 during the initial

offer. Thereafter, the profits (or loss) on your investment is reflected in

the Net Asset Value (NAV) of the mutual fund scheme. The NAV is the

actual value of a unit of a scheme on a given day. Open end schemes

allow you to buy fresh units or sell your existing units back to the fund

on any working day at a NAV based price.

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What are the types of mutual funds?

Mutual funds can be classified based on their objectives as:

Sector Equity Schemes: These schemes invest in shares of

companies in a specific sector.

Diversified Equity Schemes:These schemes invest in shares of

companies across different sectors of the economy.

Hybrid Schemes: These schemes invest in a mix of shares and

fixed income instruments.

Income Schemes: These schemes invest in fixed income

instruments such as bonds issued by corporate and financial

institutions, and government securities.

Liquid/Money Market Schemes:These schemes invest in short-

term instruments such as certificate of deposits, treasury bills and

short-term bonds.

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How is Mutual Fund Structured?

A mutual fund is set up as a trust or trustee company and may be

sponsored by individuals or corporate.

SEBI has prescribed the duties and responsibilities of the trustees/board

of directors of the trustee company, which includes appointing an Asset

Management Company (AMC) to manage the assets of the various

schemes floated by it. The assets of the various schemes are held in

custody of a SEBI approved custodian and all purchases/sales of

securities by the AMC are routed through the custodian. All these

entities - the fund, AMC, custodian etc. are governed by SEBI (Mutual

Funds) Regulations and each of them have separate internal and

external auditors, in addition to special SEBI inspections, to ensure that

they work in line with SEBI Regulations and in the best interest of

investors.

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What are the benefits of investing in mutual funds?

As opposed to investing directly in different asset classes, accessing

them through a mutual fund has several advantages:

Professional Management:

Your money is managed by professionals who have the experience and

resources to thoroughly analyze the economy and financial markets, and

spot good opportunities.

Diversification:

With smaller amounts, you can achieve a higher degree of diversification

and reduce your risk.

Liquidity and Convenience:

Investing and getting back your money is easy. Also, there is very little

paper work, and it is very easy to track and monitor your investments.

Tax Benefits:

Some mutual fund schemes offer you tax rebates under Section 88. In

addition, your returns from mutual funds (dividends and capital

appreciation) are also eligible for favorable tax treatment.

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Advantages of Investing In Mutual Fund

1. Investment Options for different investors and Investment

needs:

1. Debt Funds for regular income

2. Equity Funds for growth of your capital

3. There are various kinds of funds designed to meet different

investment needs; Mutual Funds offer investment options ranging

from a day to a decade or more.

4. There are options available for the most risk adverse investor and

extremely aggressive investor.

5. Individuals, Corporate, HUFS, Trusts and NRIS can invest and

benefit from Mutual Funds.

2. Gain from professional management & risk control

1. Mutual Funds are the ideal investment vehicles that allow you to

benefit from the market, since they typically offer market linked or

above market average returns.

2. Mutual Funds are not only managed professionally, but alsoextensively regulated by SEBI.

3. Liquidity

1. Maximum liquidity when compared with any other investment

option.

4. Convenience

1. Flexibility in the amount of Investment.

2. Flexibility in the frequency of Investment.3. Choice of time-horizon of investment:

Short Term

Medium Term

Long Term

4. Choice of type of Investment:

Debt

EquityBalanced

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5. Easy to switch between different schemes/ plans (investor can

shift from debt to equity markets and from equity to debt).

6. Different options available for investments:Dividends

Growth

7. Option to invest and withdraw systematically over a period of

time.

5. Transparency

1.Mutual Fund investing is really simple and transparent.

2. Regular updates from fund houses

3. Portfolio disclosures necessary as per SEBI regulations.

6. Easy to Buy and Sell

1. All it takes is an application form of the fund one wishes to invest

in, rest will be taken care by the advisors.

2.

Redemption request is processed normally with in 3 working days.

7. Tax Benefits

1. No tax on the dividends in the hands of the investor (Debt funds

-12.81% (12.5% distribution tax plus 2.5%) dividend tax paid by

the fund before distribution of dividends)

2. No dividend distribution tax for equity mutual funds (completely

tax free dividends).

3. Tax liability only when investment is redeemed /withdrawn (not

every year)

4. Long term capital gains tax benefits

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RISKS ASSOCIATED WITH MUTUAL FUNDS

The price of a security may be affected because of the overall sentiment

in the market. Sentiment means how most people in the market fell.

1. ECONOMIC RISK

The price of securities may fluctuate because the expectation about the

national economy whether the economy as a whole is slowing to other

competing economies.

2. INTEREST RATE RISK

Changes in interest rate (which occur due to changes in supply and

demand for money) influences securities process. In case of fixed

income securities, the impact is direct. If interest rate rises, price falls

and vice versa. Fall in interest rate may benefit share prices because

cost of funds to companies may move down, hence their profit may go

up.

3. CREDIT RISK

The risk of failure on part of a borrower to meet interest and principal

amount obligations.

4. REGULATORY RISK

Price of securities may be affected due to changes in law, procedures,

import export policy etc.

5. INDUSTRY RISK

A particular security may be affected due to certain developments

peculiar to that industry.

6. TECHNOLOGY RISK

Discovery of new processes or radical changes in technology used by

certain companies may affect prices of shares of that company. This is

also known as risk of obsolescence.

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7. ENVIRONMENTAL RISK

Certain companies may be adversely affected because of certain

restriction imposed on them by the authorities for protection of the

environment.

8. EVENT RISK

Some times an event such as an accident or an earthquake may

influences prices of securities because the event may cripple the

operations of a company temporarily or permanently.

9. COUNTRY RISK

A country in financial difficulty may impose restriction on trade and

capital flows affecting investments made in that country.

SYSTEMATIC INVESTMENT PLAN

This is an investment technique where you deposit a fixed, small amount

regularly into the mutual fund scheme ( every month or quarter as per

your convenience) at the prevailing NAV ( net assets value ), subject to

applicable load.

A systematic investment plan offers two major benefits to an investor. It

avoids lump sum investment at one point of time in a scenario of falling

prices; it reduces your overall cost of acquisition by a process of rupee

cost averaging. This means that at lower prices you end up getting more

units for the same investment.

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RESEARCH METHODOLOGY

PROBLEM DEFINITION

Awareness of mutual fund in Bardoli.

OBJECTIVE OF THE STUDY

- To find out the awareness of mutual fund of the people in bardoli.

- To find investment pattern of mutual fund.

- To find out the preference of people to invest in mutual fund.

RESEARCH DESIGN

In this project the Descriptive research design has been used in which

the data are collected by cross sectional research design. As the study is

done to know the awareness of mutual fund only and not to find out any

reason for the awareness level of mutual fund in bardoli and as it only

describes the level of awareness and not explains anything the study is

descriptive study.

SAMPALING PLAN

The sampling plan is about how many respondents are to be taken under

the research out of the overall population. In this study the non-

probability sampling technique has been used as it is more appropriate

to conduct because it is not possible to know the awareness of mutual

fund in bardoli by only one group. And as the respondents are the

persons who met on convenience and not any specific group of persons

the convenience sample have been taken.

The survey has been done with sample of 200 respondents

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DATA ANALYSIS AND INTERPRITATION

Q- 1 Are you aware about Mutual Fund?

Frequencies

Frequency PercentYES 168 84%NO 32 16%Total 200 100%

NO

YES

AWARE

Inference: from the above table 84% respondents out of 200 are aware

about Mutual Fund and 16% respondents are not aware about Mutual

Fund.

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Q 2 What are your reasons for unaware about Mutual Fund?

Frequencies

Responses

N PercentLack of Knowledge 8 24.2%Lack of Information 3 9.1%Not Interested 22 66.7%Total 33 100.0%

LACK OF KNWLEDGE

LACK OF

INFORMATION

NOT INTERESTED

Inference: From the above table 24.2% respondents are not aware

about Mutual Fund because of Lack of Knowledge and 66.7%

respondents are not aware about Mutual Fund because of Not Interest.

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Q -3 From where you come to know about Mutual Fund?

Frequencies

Responses

N PercentNews Paper 76 22.6%T.V. 71 21.1%Internet 34 10.1%Hoarding 11 3.3%Friend 66 19.6%Agent 78 23.2%Total 336 100.0%

23%

21%

10%3%

20%

23% News Paper

T.V.

Internet

Hoarding

Friends

Agent

Inference: From the above table 23.3% respondents come to know

about Mutual Fund from Agent, 23% respondents from News paper and

Agent and only

3% respondents come to know about Mutual Fund from Hoarding.

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Q -4 Do you invest in Mutual Fund?

Frequencies

Frequency PercentYES 116 58.0NO 52 26.0Total 200 100.0

NO

YES

0

DO INV

Inference: From the above table 58% respondents out of 200 are

investing in Mutual Fund and 42% are not investing in Mutual Fund out

of which 16% are not aware about Mutual Fund.

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Q -5 What are your reason for not investing in Mutual fund?

Frequencies

ResponsesN Percent

Lack of Knowledge 11 18.6%Too Risky 13 22.0%Requires High Investment 17 28.8%Uncertainty of Return 8 13.6%Secured & Fix Return 10 16.9%Total 59 100.0%

19%

22%

28%

14%

17%

LACK OF KNOWLEDGE

TOO RISKY

REQUIRE HIGH

INVESTMENT

UNCERTAINTY OF

RETURN

INTERESTED IN

SECURED AND FIXED

RETURN

Inference: From the above table 28.8% respondents are not investing

in Mutual Fund because of Requirement of High Investment. 18.6%

respondents are not investing in Mutual Fund because of Lack of

Knowledge. 13.6% respondents are not investing in Mutual Fund

because of Uncertain Return.

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Q -6 How frequently you invest in mutual fund?

Frequencies

Frequency PercentOnce 19 9.5Twice 19 9.5More than twice 44 22.0Regularly 34 17.0Total 200 100.0

REGULARLY

MORE THAN TWICE

TWICE

ONCE

0

FREQ

Inference: From the above table 22.0% respondents out of 200 have

invested more than twice in Mutual fund. 17.0% respondents out of 200

are investing regularly in Mutual fund. 9.5% respondents out of 200 have

invested once and twice in Mutual fund.

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Q -7 What are your investment objectives in a Mutual funds?Tick marks the followings as per your preference level.

One-Sample Statistics

N MeanDiversification 200 2.41Liquidity 200 2.36Reducing Risk 200 2.43Good Return 200 2.67Market Risk 200 2.16Tax Benefit 200 2.60

Prof. Mgt 200 2.14

DIVERSIFICATION

Null Hypothesis (HO): There is no significant difference between

calculated mean and hypothesized mean (3.00). In other words, we

hypothesize that the respondents are neutral that the diversification isone of the criteria considered by the investors while they invest in

mutual fund.

Alternative Hypothesis (H1): There is significant difference between

calculated mean and hypothesized mean (3.00). In other words the

investors are not neutral with the statement that diversification objectiveis a criterion consider by him while investing in mutual fund.

Significance level: 0.05

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Test Value at 3

Test Value = 3

t-3.806

df

199

Sig.(2-tailed)

MeanDifference

95% ConfidenceInterval of theDifference

Lower Upper

diversification .000 -.590 -.90 -.28

Inference:

Here the test is performed at 95% significance level and the t-value

comes out as .000 which is less than 0.05, it means that the null

hypothesis H0 is rejected. It can be said that there is significant

difference between calculated mean and hypothesized mean.

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LIQUIDITY


calculated mean and hypothesized mean (3.00). In other words, wehypothesize that the respondents are neutral that the liquidity is one of

the criteria consider by the investors while they invest in mutual fund.



investors are not neutral with the statement that liquidity objective is

one of the important criteria consider by investors to invest in mutual

fund.


Test Value = 3

t

-4.243

df

199

Sig.(2-tailed)

MeanDifference


Lower Upper

Liquidity .000 -.645 -.94 -.35

Inference:

Here the test is performed at 95% significance level and the t-valuecomes out as .000 which is less than 0.05, it means that the null



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REDUCING RISK



hypothesize that the respondents are neutral that the reducing risk is

one of the criteria consider by the investors to invest in mutual fund.



investors are not neutral with the statement that reducing risk is a

criterion considered by investors to invest in mutual fund.


Test Value = 3

t

-3.674

df

199

Sig.(2-tailed)

Mean

Difference

95% Confidence

Interval of theDifference

Lower Upper

Reduce risk .000 -.575 -.88 -.27

Inference:

Here the test is performed at 95% significance level and the t-value




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GOOD RETURN


calculated mean and hypothesized mean (3.00). In other words, wehypothesize that the respondents are neutral that the good return is one

of the criteria consider by the investors to invest in mutual fund.



investors are not neutral with the statement that good return objective is

a criterion considers by him investors to invest in mutual fund.


Test Value = 3

t

-2.022

df

199

Sig.(2-tailed)

MeanDifference


Lower Upper

Good return .045 -.335 -.66 -.01

Inference:

Here the test is performed at 95% significance level and the p-value




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MARKET RISK



hypothesize that the respondents are neutral that the market risk is one

of the criteria consider by the investors to invest in mutual fund.



investors are not neutral with the statement that market risk objective is

criteria consider by investors to invest in mutual fund.


Test Value = 3

t

-5.885

df

199

Sig.(2-tailed)

MeanDifference


Lower Upper

Market risk .000 -.840 -1.12 -.56

Inference:





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TAX BENEFITS


calculated mean and hypothesized mean (3.00). In other words, wehypothesize that the respondents are neutral that the tax benefit is one

of the criteria consider by the investors while they invest in mutual fund.



investors are not neutral with the statement that tax benefit objective is

criteria consider by investors to invest in mutual fund


Test Value = 3

t

-2.402

df

199

Sig.(2-tailed)

MeanDifference


Lower Upper

Tax benefit .017 -.400 -.73 -.07

Inference:



hypothesis H0 is accepted. It can be said that there is significant


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PROFESSIONAL MANAGEMENT



hypothesize that the respondents think some what not important that

the professional management is one of the criteria consider by the

investors while they invest in mutual fund.



investors are not agree some what important with the statement that

professional management objective is a criterion consider by him while

investing in mutual fund


Test Value = 2

t dfSig. (2-tailed)

MeanDifferen

ce

95% ConfidenceInterval of the

Difference

Lower Upper Lower Upper Lower Upper

OBJ PROF MGT .957 199 .340 .135 -.14 .41

Inference:


comes out as .340 which is more than 0.05, it means that the null

hypothesis H0 is accepted and alternative hypothesis is rejected and it

can be said that there is no significant difference between calculated

mean and hypothesized mean.

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Q 8 Give your preference of various schemes available inmutual funds.

One-Sample Statistics

N MeanStd.

Deviation

Std.ErrorMean

GRO SCH 200 2.65 2.323 .164BAL SCH 200 2.45 2.225 .157MMM SCH 200 1.99 1.911 .135SS SCH 200 2.02 1.918 .136

Growth scheme



hypothesize that the respondents are neutral that the growth scheme is

one of the criteria consider by the investors while they invest in mutual

fund.



investors are not neutral with the statement that growth scheme

objective is a criterion considered by investors to invest in mutual fund


Test Value = 3

t

-2.131

df

199

Sig.

(2-tailed)

MeanDiffere

nce


DifferenceLower Upper

Growth scheme .034 -.350 -.67 -.03

Inference:





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Balance scheme



hypothesize that the respondents are neutral that the professional

management is one of the criteria consider by the investors to invest in

mutual fund.



investors are not neutral with the statement that professional

management objective is a criterion consider by investors to invest in

mutual fund.


Test Value = 3

t-3.495

df

199

Sig.(2-tailed)

Mean

Difference


Lower Upper

Balance scheme .001 -.550 -.86 -.24

Inference:





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Money market mutual fund scheme





mutual fund.





mutual fund.


Test Value = 3

t-7.510

df

199

Sig.(2-tailed)

MeanDifference



Money market scheme .000 -1.015 -1.28 -.75

Inference:





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Specific sector scheme





mutual fund.





mutual fund


Test Value = 3

t-7.227

df

199

Sig.(2-tailed)

MeanDifference



Specific sector scheme .000 -.980 -1.25 -.75

Inference:



hypothesis H0 is rejected. It can be said that there is significantdifference between calculated mean and hypothesized mean.

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Q 9 How much percentage of income you invested in MutualFund?

Statistics% of income invested in Mutual Fund

% of Income Invest in M.F. Frequency PercentLess than 5% 15 7.5%5% - 9% 31 15.5%10% - 14% 27 13.5%15% - 20% 25 12.5%More than 20% 18 9%Total 200 100%

FREQUENCY

13%

26%

23%

22%

16%LESS THAN 5%

5% TO 9%

10% TO 14%

15% TO 20%

MORE THAN 20%

Inference: From the above table there are 15.5% respondents out of

200 are investing from 5% to 9% of their income, while only 7.5%

respondents are investing less than 5% of their income in Mutual Fund

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Q 10 Are you aware of the various facilities come under MutualFund?

Facilities come under mutual Fund Frequencies

Frequency PercentSYSTEMATIC TRANSFER PLAN 40 20.7%SYSTERMATIC INVESTMENT PLAN 105 54.4%SYSTEMATIC WITHDRAWAL PLAN 48 24.9%Total 193 100.0%

21%

54%

25% SYSTEMATIC

TRANSFER PLAN

SYSTEMATIC

INVESTMENT PLAN

SYSTEMATIC

WITHDRAWAL PLAN

Inference: From the above table 54.4% respondents are aware of the

Systematic Investment Plan in Mutual Fund. 24.9% respondents are

aware of the Systematic withdrawal Plan in Mutual Fund. 20.7%

respondents are aware of the Systematic Transfer Plan in Mutual Fund.

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AGE

AGE * % INC. Cross tabulationCount

% INC. Total

NOTINVEST

Lessthan 5%

5% to9%

10% to14%

15% to20%

Morethan20%

AGE Lessthan 21

8 1 9

21 to 40 51 5 21 15 19 15 12641 to 60 22 10 9 12 5 2 60

Morethan 60

3 1 1 5

Total 84 15 31 27 25 18 200

Inference:

There are 18 respondents who invest more than 20% of their income in

mutual fund and in which 15 respondents whose age comes under 21 to

40. There are 25 respondents who invest 15% t o20% of the income in

mutual fund and in which 19 respondents whose age comes under 21 to

40. There are 31 respondents who invest 5% to 9% of the income inmutual fund and in which 21 respondents whose age comes under 21 to

40.

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OCCUAPTION

OCCUPATION. * % INC. Cross tabulationCount

% INC. TotalNOT

INVESTLessthan5%

5%To9%

10%To14%

15%to

20%

Morethan20%

OCCU. Student 5 1 2 1 9Business 15 4 6 3 1 29Service 54 12 22 20 18 15 141

Profession 4 1 2 4 11Other 6 1 1 1 1 10

Total 84 15 31 27 25 18 200

Inference:


mutual fund and in which 15 respondents who are doing service. There

are 25 respondents who invest 15% t o20% of the income in mutual fund

and in which 18 respondents who are doing service. There are 31

respondents who invest 5% to 9% of the income in mutual fund and inwhich 22 respondents who are doing service.

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ANNUAL INCOME

ANNUAL INCOME. * % INC. Cross tabulationCount

% INC. TotalNOT

INVESTLessthan5%

5%To9%

10%to

14%

15%To20%

Morethan20%

ANNINC.

0 1 1

Lessthan

1,00,000

47 5 10 9 5 3 79

1,00,000

to1,99,999

25 4 11 7 9 5 61

2,00,000to

2,99,999

9 4 7 8 3 5 36

3,00,000to

4,00,000

1 1 2 1 7 2 14

Morethan

4,00,000

1 1 1 2 1 3 9

Total 84 15 31 27 25 18 200

Inference:


mutual fund and in which 3 respondents who are earning more than Rs.

4, 00,000. There are 25 respondents who invest 15% t o20% of the

income in mutual fund and in which 7 respondents whose annual incomeis from Rs. 3, 00,000 to Rs. 4, 00,000.

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CONCLUSIONS

There are 84% respondents are aware about Mutual Fund.

Out of 16% respondents who are not aware about Mutual Fund

from them 66.7% are not aware because they are not interested.

More number of people are come to know about Mutual Fund from

News paper and Agent.

58% respondents are investing in Mutual Fund.

28.8% respondent who is not investing in mutual Fund thinks that

there is requirement of high investment.

The respondents who invest in Mutual Fund out of them 22%

respondents have invested More than twice while 17%

respondents are investing regularly.

The people are investing in Mutual Fund with an objective to get

more return and to get the tax benefit.

The more number of persons invest in Growth Scheme of Mutual

Fund.

The more number of investors invest 5% to 9% of the income in

Mutual Fund.

The most ofservice persons are investing in Mutual Fund.

The most of investors age is from 21 to 40.

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RECOMMENDATION

There is need to use more sources to make people aware about

Mutual Fund.

People must be informed that there is not requirement of High

investment to invest in Mutual Fund.

The importance of Balance Plan should also be informed to the

investors so who are not investing in Mutual Fund because they

feel risk is more can invest.

The facilities in Mutual Fund of Systematic Withdrawal Plan &

Systematic Transfer plan should be informed to the investors.

There are number of investors who are service persons so they

must be focused to invest regularly for long period of time as it

gives more benefits.

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BIBILIOGRAPHY

BOOKS

Gordan & Natarajan (2003), Financial Markets and Services,

New Delhi Books:

Cooper & Schindler (2003), Business Research Methods, New York, (The

McGraw Hill Companies).

Darren George & Paul Maliery (2006), SPSS for windows step by step,

sixth Edition, (Pearson Education, Inc).

Websites

www.amfiindia.com

www.moneymarket.com

www.kotakbank.com
http://www.amfiindia.com/http://www.moneymarket.com/http://www.kotakbank.com/http://www.amfiindia.com/http://www.moneymarket.com/http://www.kotakbank.com/

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