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BABASAB PATILBABASAB PATIL
SHRIRAM TRANSPORT FINANCE COMPANY LIMITED
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EXECUTIVE SUMMARY
OBJECTIVES OF THE STUDY:-
To know the perception of customers towards SHRIRAM
TRANSPORT FINANCE COMPANY to improve the quality of
services.
To know whether the customers are satisfied with the present
services of the company.
Factors considered in selecting SHRIRAM TRANSPORT
FINANCE COMPANY to take finance for HCV (Truck).
To study the behaviour of executives of SHRIRAM TRANSPORT
FINANCE COMPANY towards customers.
To seek suggestions and opinions from customers regarding the
improvement of services.
SCOPE OF THE STUDY:-
The study will help the company to know their awareness among the
consumers, the perception, brand position of the company.
The company can find out where their competitors stands in the minds
of the customers.
The study will help the company to make proper marketing strategy for
their weaker areas.
The study covers the customers owning HCV in Hubli city.
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LIMITATIONS OF THE STUDY:-
Not single work is exception to the limitations every work has got its
own limitations, so due to time constraint, my study confines only to Hubli city
and it is not possible to make extensive study. It is assumed that the sample
selected represents entire population.
RESEARCH METHODOLOGY:-
Data source :Primary (Field Survey)
Secondary data (internet)
Area of Research : Hubli city
Research instrument : Questionnaire
Sample plan : Personal interview
Sample unit :Truck owners, Transporters
etc.
Sampling method :
Stratified Random
sampling
Sample size : 100 customers
INTRODUCTION
PERCEPTION OF CUSTOMERS TOWARDS SHRIRAM TRANSPORT
COMPANY LIMITED.
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Like any other Financial products, sales of giving finance is largely dependent
on how well company plans out their marketing strategies which helps to
increase visibility and build a distinct brand image. Looking at the intense
competition it is become very necessary for company to make a name for
themselves in consumers mind. So the opinion of customers play an important
role in making marketing strategies. Hence this study will provide the company
to what customers perceive about STFC. It will also help to find out the brand
image of STFC in the minds of customers.
India is emerging as a global automobile giant. In recent years this
industry has made pioneering efforts in adopting modern technology and
allowing the entry of foreign players. This is well supported by the economic
conditions particularly in the financial sector and in foreign direct investment.
During the last decade, conscious efforts have been made to fine-tune state
policy to enable the Indian automobile industry realizes its potential to the
fullest. The freeing of the industry from this restrictive environment has helped
it to itself to global development.
Increasing competition as result of liberalization has led to continuous
modernization as well as international standards. Moreover, auto finance with
aggressive marketing strategies has played a bid role in boosting the automobile
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demand. Commercial vehicles, widely considered being the economys
barometer, have had a good start for the year.
The auto finance industry is expected to grow at 18.6% till 09. Of that
used vehicle finance is expected to grow at 27% p.a, while new car and UV
would grow at 18.9% and 13.8%.
LITERATURE REVIEW
The world is full of stimuli. A stimulus is any unit of input affecting one or
more of the five senses sight, smell, taste, touch, hearing.The process by which
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we select , organiseand interpret these stimuli into a meaningful and coherent
picture is called perception.
In essence, perception is how we see the world around us and how we
recognize that we need some help in making a purchase decision. People cannot
perceive every stimulus in their environment. Therefore, they use selective
exposure to notice and which to ignore.
Marketers must recognize the importance of cues or signals, in
customers perception of products. Marketing managers first identify the
important attributes, such as price or quality, that the targeted customers want in
a product and then design signals to communicate these attributes. Customers
also associate quality and reliability with certain brand names. Companies
watch their brand identity closely, in large part because a strong link has been
established between perceived brand value and customers loyalty.
Customer Perception Audits:
Every time you lose a customer, theres a reason why. Do you really know
what your customers think about your business, your offerings, or your service?
Are they having good or bad experiences? Are you equipped with the insight
you need to improve customer satisfaction and loyalty, and make the changes
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that matter? Entrepreneurs are often too busy to really take the time to tap into
what customers are really thinking. But customers hold the key. They know
what you need to do to dramatically increase the value you deliver to them.
Why keep this data a secret? Uncovering and understanding it will give you
what you need to be the best, generate higher sales and referrals and earn repeat
business.
Customer Perception Audits by Coach Kevin captures information on
the experiences your customers are having, analyzes the data, and provides
meaningful, actionable recommendations on short-term and long-term
improvements, with the goal of closing the gap between the service that is
delivered and the service that customers expect.
Opening of economy and liberalization in trade in the country brought a
sea of change in customers perception of buyer and seller relationship. The
customer today is not only very demanding but also likes to know the
relationship between the supplier of goods and services and its relationship with
the manufacturer or principal and its antecedents. It is on this relationship
depends the guarantee and warranty terms to which the customer is entitled. A
customer expects trouble free service during the guarantee period. Thereafter it
is expected that a product will last to its full productive life with minimum
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down time and the vendor will provide the required support service to ensure
the customer is not put to trouble.
For adopting Japanese management or for customer oriented
management we should first have the willingness and a determination much
above the petty personal gains. It needs an attitudinal change. Looking towards
present socioeconomic and political conditions such change is not foreseen in
immediate future. Market forces will have to play the game with only customer
in mind if India has to make global presence. There is little time in hand as we
are having challenges from all sides. Small nations like Korea, Taiwan,
Singapore etc. have already surpassed us. These nations are working on a vision
and resultant plans. It is the right time for market players to pamper the
customer. As the saying goes, the four deadly sins of corporate management-
complacency, blindness, megalomania, and greed. fit everything else is
overhead!.
Remember that a customer always buys a product or service with a lot of
expectations which he has derived from the promotional inputs of the
company or other sources including word-of- mouth . So a customer would be
satisfied when Performance is equal to Expectation while would not be satisfied
when Performance does not match with Expectations. Now this expectation is
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what has been derived from perception. Perception is not good or bad, right or
wrong, it is just the way someone judges an experience based on their value
system of what they believe should happen. Since people are unique, each of
their perceptions are unique .On the other hand each situation
is a "point of contact" with an employee that will tell the customer a "truth"
about the company's idea of customer service. Each situation will create
expections of what the next experience will probably be like.
STATEMENT OF THE PROBLEM:-
The present day market is flooded with a variety of Non- banking and
as well as banking financial institutions as many as if not more than companies
like SHRIRAM TRANSPORT FINANCE COMPANY, Tata Finance,
Sundaram finance etc. are marketing their products.
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Time has become talk of the town therefore the customers give utmost
priority to those financial institutions which gives loans at lower rate of interest,
quick loans, documentation, percentage of finance etc. which have been
exerting influence on the playing decision of the consumer.
The SHRIRAM TRANSPORT FINANCE COMPANY is the largest
NBFC (Non Banking Financial Corporation) in the country exclusively engaged
in financing for heavy commercial vehicles (HCV) perhaps it is the only
company rendering better performance from a long period of time with the
presence of all these factors. The SHRIRAM TRANSPORT FINANCE
COMPANY is making sales as hotcake.
The study on hand is directed to understand the perception of
customers towards SHRIRAM TRANSPORT FINANCE COMPANY to
improve the quality of service
PURPOSE OF THE STUDY:-
The main purpose of the study is to understand the perception of customers
towards SHRIRAM TRANSPORT FINANCE COMPANY which will help the
company to make proper marketing strategy to render good services and satisfy
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the needs of the customers. The study will help the company to make proper
strategies and emphasize on their weaker areas.
SCOPE OF THE STUDY :-
The scope of the study covers the customers of SHRIRAM TRANSPORT
FINANCE COMPANY and other competitive companies in Hubli city Truck
owners, Transport companies etc.
OBJECTIVES OF THE STUDY:-
1. To know the perception of customers towards Shriram Transport
Finance Company Limited to improve the quality of service.
2. To know whether the customers are satisfied with the present
services of the company.
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3. Factors considered in selecting SHRIRAM TRANSPORT
FINANCE COMPANY to take finance for HVC.
4. To study the behaviour of executives of SHRIRAM TRANSPORT
FINANCE COMPANY towards customers.
5. To know the awareness level of the customers towards SHRIRAM
TRANSPORT FINANCE COMPANY.
6. To seek suggestions and opinions from customers regarding the
improvement of services.
LIMITATIONS OF THE STUDY:-.
a. Because of time constraint, my study confines only to Hubli city and it
is not possible to make extensive study.
b. By busy schedule of the executives it is difficult to extract more
information from them.
c. Unwillingness of transporters, truck owners has left us to make random
conclusions.
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CHAPTER II
COMPANY OVERVIEW:-
Established in the year 1974, the Shriram Group, comprising 750
Branches and Service Centres, in India's premier financial services chain. This
company is the largest player in Truck Financing and Chit funds in the Indian
subcontinent.
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The group, having an annual turnover of Rs. 6,000 crore (USD 1.3
billion), has a significant presence in the Insurance Consultancy, Consumer
Durable Finance and Stock Broking businesses. It also have diversified
investments in areas such as Information Technology, Pharmaceuticals,
Property Development, Project Engineering, Packaging and Auto Components.
It employ over 11,000 employees across the countries that are
committed to providing excellent customer service. It also have over 75,000
agents nationwide who reach out to its customers in even the most remote areas.
The Shriram Group's business ventures are built on providing the most
efficient and customer-focused services based on the simple principle of putting
people first. This 'People First' business philosophy has earned them unstinted
customer loyalty through many generations.
HISTORY AND MILESTONE:
APRIL 2005:
Shriram Group attracts largest Venture Capital Investment in the Indian
non-banking financial sector, from Overseas
JULY 2004:
UTI Bank picks up equity stake in two Shriram Group companies
17MARCH 2003:
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Shriram Investment Limited received the Mother Teresa Award for
Corporate Citizenship.
DECEMBER2002
Shriram Group enters into strategic alliance with Citicorp Finance and
Cummins Auto Services
31AUGUST2002
Shriram Group ties up with UTI Bank for Retail Truck Financing
Scheme to offer low cost loans for purchase of new or used trucks to transport
operators.
7MAY2002
Ms. Akhila Srinivasan awarded as the "Outstanding Woman Professional"
for the year 2002
4FEBRUARY2000
Shriram Recon Trucks incorporated as India's first corporate network for
selling reconditioned used trucks.
15DECEMBER1999
Medicorp, the flagship company of Shriram groups pharmacy
division became the first Indian company to win the Indian Drug Manufacturers
Association
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27 MARCH1986
Shriram City Union Finance Ltd. Incorporated for cars and two-
wheelers.
12MARCH198
Shriram Investments Ltd. Incorporated
13JUNE1979
Shriram Transport Finance Company Ltd. Incorporated
VISION, MISSION AND VALUES:
Helping create wealth, Empowering people through prosperity, Putting
people first.
The Shriram Group set out with the objective of reaching out to the
common man with a host of products and services that would be helpful to him
in his path to prosperity. Over the decades, the Group has achieved
significant success in executing this objective and has created a tremendous
sense of loyalty amongst its customers.
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Efficiency in operations, integrity and a strong focus on catering to the
needs of the common man, by offering him high quality and cost-effective
products & services, are the values driving the organization. These core values
are deep-rooted within the organization and have been strongly adhered to over
the decades.
The group prides itself on its perfect understanding of the customer.
Each product or service is tailor-made to perfectly suit the needs of the
customer. It is this guiding philosophy of putting people first that has brought
the Group closer to the grassroots and has made it the preferred choice for all
financing requirements amongst the customers.
NON-BANKING FINANCIAL COMPANY (NBFC) A GENERAL
SCENARIO
Non-Banking Financial Company (NBFC) is a company registered
under the Companies Act, 1956 and is engaged in the business of loans and
advances, acquisition of shares/stock/bonds/debentures/securities issued by
Government or local authority or other securities of marketable nature, leasing,
hire-purchase, insurance business, chit business but does not include any
institution whose principal business is that of agriculture activity, industrial
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activity, sale/purchase/construction of immovable property. A non-banking
institution which is a company and which has its principal business of receiving
deposits under any scheme or arrangement or any other manner, or lending in
any manner is also a non-banking financial company (Residuary non-banking
company).
DIFFERENCE BETWEEN BANKS & NBFC ?
NBFCs are doing functions akin to that of banks, however there are a few
differences:
i. A NBFC cannot accept demand deposits;
ii. It is not a part of the payment and settlement system and as such cannot
issue cheques to its customers; and
iii. Deposit insurance facility of DICGC is not available for NBFC depositors
unlike in case of banks.
COMMERCIAL VEHICLE
It is the funding of products include, trucks, buses, tippers, light
commercial vehicles, pick ups, 3 wheelers, etc.
Range of services: funding of new vehicles, refinance on used vehicles,
balance transfer on high cost loans, top up on existing loans, Extend product,
working capital loans & other banking products.
Who are eligible?
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Any individual / Partnership firm / company with more than 2 years business
experience. Ownership of a vehicle is not mandatory. Funding extended to First
Time User, Transporters and Captive Consumers.
How much?
Loan amount can vary from a few thousands to crore depending upon the
specific requirement.
Funding can be up to the extent of 100 % of the chassis, body funding can be
extended on special requirement & on the past experience.
Generally undertaken is Hypothecation funding. They are also taking
over an old high-interest loan and converting it into low interest loan.
Repayment:
In general repayment period is of 3 -4 years, however depending on the nature
of the deal the tenure can vary from 6 - 60 months.
The repayment schedule & the amortization schedule is sent on disbursement of
the loan.
Interest:
Interest is charged on a flat rate based on the scheme applicable for the
particular product.
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FARM EQUIPMENT LOANS
Farm equipment loan has also a big chunk in the vehicle finance.
Eligibility :-
Agricultural Users
Any individual aged above 21 years at the beginning of the tenure and below 65
years by the end of the tenure; involved in agriculture for the last 5 years.
Having minimum 2 acres of land with its value at least twice the loan amount.
Staying in the same place for at least 3 years.
Having an annual income equal to the yearly installment
Mortgage of land of 2 to 3 times of the loan amount
Commercial Users
Any individual aged above 21 years at the beginning of the tenure and below
65 years by the end of the tenure; involved in business for the last 3 years.
Owns at least one tractor or commercial vehicle.
Owns either a house or an office or at least 2 acres of land.
Has a permanent phone connection either at office or at home.
Loan Amount:
The loan amount varies from customer to customer depending on the
valuation of the land being mortgaged, income of the customer and tenure
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desired. A maximum of 100% of the cost of the tractor, 75% of the cost of the
trailer and 50% of the cost of the implements is funded.
Documentation:
Agricultural use
Application form with photograph of the customer and all co applicants
and/or guarantor.
Performa Invoice of the asset to be funded from an authorized dealer.
Land records of the borrower/s.
Land valuation and title search report of the land.
Residence proof of the borrower/s.
Identity proof of the borrower/s.
Signature verification of the borrower/s.
Loan agreement, duly signed by the applicants and guarantor.
2 SPDCs(Security Post Dated Cheques) for entire tenure.
Commercial Use
Application form with photograph of the customer and all co applicants
and/or guarantor.
Proforma Invoice of the asset to be funded from an authorized dealer.
Proof of Income (any of the following) :
- Billing statement for the past one year
- Latest Income tax Return
- Last 6 months bank statement
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Residence proof of the borrower/s.
Identity proof of the borrower/s.
Signature verification of the borrower/s.
Loan agreement, duly signed by the applicants and guarantor.
2 SPDCs(Security Post Dated Cheques) for entire tenure.
Rates & Fees:
The rate of interest varies from customer to customer and depends on various
factors like land holding, loan amount, viability of the proposition and the
underlying collaterals provided.
Interest:
Interest is charged on a monthly/quarterly/half-yearly reducing balance basis as
the case may be. Every installment that is paid has a component of principal as
well as interest. Interest is charged on the principal outstanding after every
installment payment.
TWO WHEELERS:
Two wheeler finance is comparably Simple, Friendly and Quick.
Loan Schemes are available from Rs.7500/- onwards to Rs.150000/- in easy
installments over a period of 6 to 36 months.
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Eligibility Criteria:
1. Salaried Individuals
2. Self Employed Individuals
3. Pensioners, Housewives & Students
4. Partnership Entities
5. Private Limited Companies
6. Public Limited Companies
Interest rates:Interest rate is charged on a monthly reducing balance .
Documents:
Identity Proofs
Residence Proof
Income Proof
Post Dated Cheques
Copy of Credit Card
CC billing statement
Bank passbook/Statement
No objection Certificate
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AWARDS AND RECOGNITION
Recipient of the social responsiveness awards instituted by Business
world compaq at national level under the auspices of FICCI, Delhi.
Adjudged as the third prize winner for having rended commendable
service in the areas of social welfare and rural development.
Ms. Akhila Srinivasan receiving the social responsiveness Award
instituted by Business World Company from the Honble Vice President of
India Krishna Kant in the year 1999.
Recipient of outstanding woman professional for 2000 01 by FICCI
FICCI Ladies organisation (FLO). The award was given by Ms. Sheila dixit
Chief minister Delhi.
Mother Teresa award for corporate citizenship instituted by Loyola
institute of Business Administration (LIBA) Chennai, 2002.
SOCIAL WELFARE INITATIVES
They have always belived in delivering financial value with a human
face. As a company firmly grounded up a middle class ethos, we take our social
responsibilities very seriously.
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Their corporate Social Responsibility (CSR) initiative started with the
Shriram Social Welfare Trust (SSWF) that was set up in the year 1993. SSWT
is today active in the following areas.
Orphan and destitute care
Primary education for the rural poor
Micro credit financing through self- help groups for the marginalized
Empowerment and upliftment of women in villages.
OPRHAN AND DESTITUTE CHILDREN:
To swiftly help the poor and the needy to be self reliant and live with dignity,
not charity. The primary focus and beneficiaries of the Trusts activities are.
a. Abandond neglected and destitute children.
b. Juvenile delinquents in need of care and protection.
c. Children of poor and illiterate parents.
d. Disadvantaged and marginalized section of women, particularly rural
women
MICRO CREDIT FINANCING THROUGH SELF-HELP GROUPS FOR
THE MARGINALIZED WOMEN IN VILLAGES.
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a. Launch of Shriram Rural Development Project (SRDP) to create and
develop
b. Social and human capital among the poor.
c. Micro credit financing through self help groups in 156 villages in Tamil
Nadu, Andhra Pradesh and Karnataka.
PRIMARY EDUCATION FOR THE RURAL POOR:
The trust runs four schools in rural areas at Thiruneermalai, Pallikaranai,
Moovarasampet in Tamil Nadu and inn Prakash Nagar, Guntur Dist. In Andhra
Pradesh. Over 2000 children receive free education. Schools offer education up
to class VII and student will progressively move up to higher secondary level.
FUTURE PLANS :
a. To start six primary schools for the rural poor in the villages of Andhra
Pradesh.
b. Government of Andhra Pradesh to hand over 3.5 acres of land to SSET in six
districts.
c. Immediate Plans: to start two schools in Cudapah and Guntur districts in June
2005.
LONG TERM BENEFITS OF THE PROGRAM:
a. Reduction in rural indebtedness
b. Bank/institutional credit for investment in income generation activities.
c. Improved household food security round the year, better nutrition.
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d. Improved household income.
e. Empowerment of Women.
f. Greater leverage and status of SHG members in local communities and with
the state.
THE FUTURE ACCORDING TO SHRIRAM
1. To enlarge the scope of micro credit financing activity through NBFC
Shriram Investment Limited.
2. To extend activities to Bihar, Kharkand, and Eastern Uttar Pradesh.
3. To lend credit at low interest rates to 3 lakh women below poverty line
in the next 3 years.
NATIONAL AWARDS WON
Business World Compaq award fota Social Responsiveness instituted by
FICCI from the Honble Vice President of India Mr. Krishna Kant on
1999.
Mother Teresa award for Corporate Citizenship instituted by Loyola
Institute of Business Administration (LIBA), Chennai in 2002.
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PRODUCT PROFILE
1.TRUCK FINANCE
1. Shriram Truck Financing Companies. The wheels of progress.
2. Largest NBFC in the country exclusively engaged in financing of heavy
commercial vehicles.
3. Monopoly position in financing of used vehicles.
4. All India presence with a branch network of 260 offices and employing
over 4000 people.
5. Growing at the rate of 30% per annum.
6. Funds managed Rs 6000 crores.
7. Equity investors - Citicorp,, UTI Banks, Reliance Capital and FMO
Netherlands have added tremendous value and strength.
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8. Venture capital firm Chris capital joins as a strategic partner by
acquiring 21% equity.
We entered the Consumer Durable Finance business in early 2002 through
'Shriram City Union Finance Ltd., the consumer finance arm of the group.
Within a short span of 2 years, we have managed a portfolio of over Rs.584
crore.
Our monthly business amounts to over Rs.25 crore in individual loans, ranging
from as little as Rs.8,000 to Rs.1,00,000, and with tenures ranging from 12
months to 36 months.
Since its inception, we have financed over 2,15,000 white goods and two-
wheelers, with over 90% of the business arising out of the non-metro markets.
This financing is backed by lines of credit extended by ICICI Bank, UTI Bank
and Development Credit
THE GROUP COMPANIES ATHAT CATER TO TRUCK FINANCING
NEEDS A DIFFERENT PARTS OF THE COUNTRY ARE
Shriram Investments Limited in the South Shriram Transport Finance Company
Limited in the West Shriram Overseas Finance Limited in Northern/Eastern
regions in India.
OUR EQUITY PARTNERS
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Citicorp financial services Ltd. An arm citigroup has taken 14.9% equity stake
in Shriram investments Limited and Shriram Transport Financial Company
Limited in 2002.
FMO the Dutch Government owned financial services company has recently
picked up equity stake in SIL and STFC. The company has extended a long
term debt of 6 million Euros each to the two companies.
Reliance Capital has also taken an equity stake in the two companies at a
premium.
.
AN OVERVIEW OF THE SHRIRAM GROUP TRUCK FINANCING
BUSINESS IN INDIA
AREA OF OPERATION ALL INDIA
Branch offices 260
Employees 4000
Depositors 12.20 lakhs
Agency Force 15,000 plus resident representatives 1300.
Funds managed Rs. 6000 crores
Net worth Rs. 349 crores
Stock ListingMajor exchanges including the BSE and the
NSE.
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2.CONSUMER FINANCE:-
We entered the consumer Durable Finance Business business in early
2002. through Shriram City Union Finance Ltd. The consumer arm of the group.
Within a short span o 2 years, we have managed a profile of over rest 684 crores
in this business.
Our monthly business amounts to over Rs. 25 crores in individual loans,
ranging from as little as Rs.8000 to Rs. 100000 and with tenures ranging from
12 months to 36 months.
Since its inception we have financed over 215000 white goods and
two wheelers with over 90% of the business arising out of the non metro
markets.
This financing is backed by lines of credit extended by
ICICI Band, UTI Bank and Development Credit.
3.CHIT FUNDS:-
Shriram chits prosperity
Shriram chits is the largest chits fund in the country. We have grown to become
a trusted household investment option. The growth registered by Shriram Chits
recent years not only indicated the usefulness of this savings instrument, but is
also a reflection our customers trust in.
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Chits one of the earliest investment instrument known to man, were founded by
the enlightened communities of India. These have, ever since, worked to the
advantages of communities that are batting scarce capital resource.
Shriram chits started its operations in the year 1974 with a single branch that
has quickly grown into trusted household name for making chits a viable form
of saving and borrowing to all sections of the social.
Shriram chits operates in four states. Tamil Nadu, Andhra Pradesh, karnataka
and Maharastra, where has a reputation for timely disbursement of funds and
excellent customer services which differen tiates it from other companies.
Using state of the art computer systems/networks and a transparent accounting
system, Shriram Chits have transformed this contemporary mehod of savings
into an attractive personalised to banking system.
4.GENERAL INSURANCE:-
Shriram group has adopted a two strategy in this segment.
1. Broking arm Armour Consultants floated in year 2002
2. Retail Marketing Arm: Ski Marketing flotred in year 2001.
ARMUR CONSULTANTS PRIVATE LIMITED : INSURANCE
EXPERTS AT YOUR SERVICE
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Amour consultant is engaged in insurance broking in corporate insurance
markets and has already aggregated business volumes in excess of Rs. 200
crores ($ 44 million) in premiums.
Amour consultant comprises a team of distinguished professionals from
insurance, finance, law and other management discipline, who have vast
business and managerial experience. The company has handled major claims for
renowned clients. There have been several claim cases that were won even in
the arbitration stage.
The tern at Armun Consultants begins with an in depth evaluation of
the client companys business environment. The company risk profile is then
studied. Based on the results of these evaluations. The team then suggests the
most cist effective, integrated insurance package that is perfectly suited to the
companys risk profile.
The company plans to extend its customer base of the existing 500000 policy
holders to cross the 1 million mark by the end of financial year 2005-06.
5.LIFE INSURANCE:-
The shriram group plans to enter the life insurance segment 05. Am application
has already been filed with the IRDA for the same. We are also exploring the
possibilities of collaborating with a foreign partner in this venture. We expect
to be a major player in this very fast growing sector, as a natural corollary of
business philosophy and expertise.
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6.STOCK BROKING:-
Our stock broking arm operates under the insight share Brokers Pvt. Ltd. It is a
member of the National Stock Exchange , India and the Multi Commodity
Exchange. This unit has expended the network by 150% over the last year and
today it has more than 230 terminals spread across the length and breadth of the
country.
It has a retail customer base of around 50000.
The company launched its new products like Derivatives and commodity
Trading in early 2004.
A QUICK LOOK AT SOME OF THE SALIENT FEATURES
Limits of all clients are fixed at a pre-calculated level.
This is benefical to them in the long run as it prevents overtrading.
Atimely payments and direct share transfer facility from NSE.
Adequate risk control research support.
The clincher. Proactivate and preventive risk control.
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ORGANISATION CHART
BOARD OF DIRECORS
SHIRAM TRANSPORT FINANCE COMPANY LIMITED
R Sridhar Managing Director
S. Venkatakrishnan Executive Director
Umesh G Revankar Executive Director
K.R.C Sekhar Director
S. Ranganathan Nominee of Citicorp Finance (India) Ltd.
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Dr. T S Sethurathnam Nominee of IREDA ltd.
K. Prakash Company Secretary & Compliance Officer
SAMPLING:
Sample plan to know the perception of customers in this project is through
personal interview.
SAMPLE UNIT:
I have taken the customers who are owning a truck or (HCV).
SAMPLING METHOD;
I have used Non- probability sampling i.e. Stratified Random Sampling.
Sample size for this project is 100 customers who are truck owners.
RESEARCH DESIGN:
In this research design of this project the study was conducted by the survey
method.
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Taking sample of 100 customers owning trucks by commencing sampling using
the research instrument as the questionnaire.
Personal interview is considered as the sample plan.
For this project area of research is Hubli City.
DATA COLLECTION METHOD:
I have collected the data from the following sources:
A. PRIMARY DATA:
The data collected from the company persons.
Questionnaires
B. SECONDRY DATA:
Interviewing with the owners of trucks
Internet
Magazines, Catloges, etc.
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MEASURING TOOLS:
For preparing this project I have considered questionnaire as measuring tool for
collecting the data.
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CHAPTER III
RESULTS AND DISCUSSION WITH GRAPHS AND CHARTS:-
1) Do you own a HCV?
Table: 3.1
Number of customers Percentage
Yes 100 100%
No Nil Nil
Total 100 100%
The information presented in table3.1 reveals that:-
Almost all respondents are owning Heavy Commercial Vehicle.
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The same information is presented in the form of diagrammatically as follows:-
100
0
0
20
40
60
80
100
Percent
Yes No
Responses
Diagram-3.1
Yes No
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2. Source of finance for your HCV?
Table: 3.2
Sources Number of customers Percentage
Co-op banks 4 4%
STFC 61 61%
Tata finance 19 19%
Others 16 16%
Total 100% 100%
The information presented in table3.2 reveals that:-
61% respondents have taken loan from STFC .
19% respondents have taken loan from tata finance and 4% from
co-op banks.
While remaining 16% have taken from other finance companys.
The same information is presented in the form of diagrammatically as follows:-
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Diagram-3.2
4
61
19 16
0
10
20
30
40
50
60
70
Co-op banks STFC Tata finance Others
Responses
Percent
Co-op banks STFC Tata finance Others
3. Are you aware of STFC?
Table:3.3
Number of customers Percentage
Yes 100 100%No Nil Nil
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Total 100 100%
The information presented in table- 3.3 reveals that:-
Almost all respondents are aware of STFC .
The same information is presented in the form of diagrammatically as
follows:-
Yes
No
S1
100
00
20
40
60
80
100
Percent
Responses
Diagram-3.3
Yes No
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4) How did you come to know about this company?
Table:3.4
Sources Number of customers Percentage
Friends 38 38%
Agents 24 24%
Advertisements 32 32%
Others 6 6%
Total 100 100%
The information presented in table3.4 reveals that:-
38% respondents have bought finance from STFC on the advice
of their friends.
24% will seek the advice of agents.
While 6% from others and 32% on the basis of Advertisements.
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The same information is presented in the form of diagrammatically as follows:-
Diagram-3.4
38
24
32
6
0
510
15
20
25
30
35
40
Friends Agents Advertisements Others
Responses
Percent
Friends Agents Advertisements Others
5. Do you get the finance quickly from STFC?
Table:3.5
Number of customers Percentage
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Yes 84 84%
No 16 16%
Total 100 100%
The information presented in table3.5 reveals that:-
84% respondents are in favour of quick finance availability from
STFC .
While remaining 16% of them are not in favour of quick finance.
The same information is presented in the form of diagrammatically as follows:-
Diagram-3.
Ye s
84%
No
16%
Yes No
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6) Are you satisfied with the documentation process at STFC?
Table:3.6
Sources Number of customers Percentage
Highly Satisfied 28 28%
Satisfied 42 42%
Neither satisfied/dis-
satisfied14 14%
Dis-Satisfied 14 14%
Highly dis-Satisfied 2 2%
Total 100 100%
The information presented in table3.6 reveals that:-
28% of the respondents are Highly Satisfied with the
documentation process at STFC , 42% of the respondents are
Satisfied and from the analysis 14% of them are Neither
satisfied/dis-satisfied .
Nearly 14% of the respondents are dis-Satisfied and 2% of them
are Highly dis-Satisfied .
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The same information is presented in the form of diagrammatically
as follows:-
Diagram-3
28
42
14 14
2
0
10
20
30
40
50
Highly
Satisfied
Satis fied Ne ither
satisfied/dis-
satisfied
Dis-SatisfiedHighly dis-
Satisfied
Respons
Pecent
Highly S atis fied S atis fiedNeither sat is fied/dis-sat is fied Dis-Sat is fied
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7) Do you require any changes in the documentation process?
Table:3.7
Number of customers Percentage
Yes 28 28%
No 72 72%
Total 100 100%
The information presented in table3.7 reveals that:-
28% of the respondents require changes in documentation
process at STFC .
While 72% of the respondents are Satisfied with the
documentation process at STFC .
The same information is presented in the form of diagrammatically as follows:-
Diagram-3.7
Yes
28%
No
72%
Yes No
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8. What do you feel about the interest rates at STFC?
Table:3. 8
Sources Number of customers Percentage
Very High 16 16%
High 44 44%
Moderate 34 34%
Low 6 6%
Total 100 100%
The information presented in table3.8 reveals that:-
16% of the respondents are in favour that interest rate at STFC is
very high and 44% of them are in favour of High rates.
While 34% of them are in favour of moderate interest rates and
6% for low interest rates.
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The same information is presented in the form of diagrammatically as
follows:-
Diagram -3.8
16
44
34
6
0
10
20
30
40
50
Very High High Moderate Low
Responses
percen
Very High High Moderate Low
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9) Are you satisfied by the percentage of finance provided by
STFC?
Table:3. 9
Number of customers Percentage
Yes 88 88%
No 12 12%
Total 100 100%
The information presented in table3.9 reveals that:-
88% of the respondents are Satisfied with Percentage of finance
given by STFC .
While 12% of them are not Satisfied .
The same information is presented in the form of diagrammatically as follows:-
Diagram-3.9
Yes88%
No
12%
Yes
No
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10). Are you satisfied with the services offered by STFC?
Table:3. 10
Sources Number of customers Percentage
Completely Satisfied 10 10%
Satisfied 32 32%
Neither satisfied/dis-
satisfied
20 20%
Dis-Satisfied 29 29%
Completely dis-
Satisfied9 9%
Total 100 100%
The information presented in table3.10 reveals that:-
10% of the respondents are completely Satisfied with the
service offered y STFC, 32% of the respondents are
satisfied and from the analysis 20% o the respondents are
Neither satisfied/dis-satisfied .
Nearly 29% of them are dis-Satisfied and remaining 9%
of them are completely dis-Satisfied .
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The same information is presented in the form of diagrammatically
as follows:-
BABASAB PATILBABASAB PATIL
Diagram-3.10
10
32
20
29
7
05
1015
20253035
Completely
Satisfied
Satisfied Neither
satisfied/dis-
satisfied
Dis-Satisfied Completely
dis-Satisfied
Responses
Pe
rcent
Completely Satisfied Satisfied
Neither satisfied/dis-satisfied Dis-SatisfiedCompletely dis-Satisfied
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11) What are the features that attracted you to borrow loan
from STFC?
Table:3. 11
Sources Number of customers Percentage
Low interest rates 6 6%
Easy documentation 10 10%
Quick finance 84 84%
Low EMI Nil Nil
Total 100 100%
The information presented in table3.11 reveals that:-
84% of the respondents are attracted by quick finance.
10% of the respondents for easy documentation.
While remaining 6% for low interest rates.
The same information is presented in the form of diagrammatically as follows:-
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Diagram 3.11
6 10
84
00
20406080
100
Low
interest
rates
Easy
documentatio
n
Quickfinance
Low
EMI
Responses
Percent
Low interest rates Easy documentation Quick finance Low EMI
12. How do you rate STFC with respect to other finance
companies?
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Table:3. 12
Sources Number of customers Percentage
Tate 12 12%Ashok Leyland 18 18%
STFC 26 26%
HDFC 18 18%
ICICI 14 14%
SBI 12 12%
Total 100 100%
The information presented in table3.12 reveals that:-
12% of the respondents rated Tata in the 1st place with other
companys and 18% of them for Ashok Leyland and HDFC in
2nd place.
26% of them rated STFC in 3rd place.
Nearly 14% of them for ICICI in 4th
place.
The same information is presented in the form of diagrammatically as follows:-
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Diagram-3.1
12
18
26
18
1412
0
5
10
15
20
25
30
Tata Ashok
Leyland
STFC HDFC ICICI SBI
Response
Percent
Tata Ashok Leyland STFC HDFC ICICI SBI
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13. What is your experience when you approached the executives
of STFC for finance of HCV?
Table:3. 13
Sources Number of customers Percentage
Very good 22 22%
Good 48 48%
Neither good/bad 24 24%
Bad 4 4%
Very bad 2 2%
Total 100 100%
The information presented in table3.13 reveals that:-
22% of the respondents are in favour of very good behaviour
from the executives of STFC , 48% of them are in favour of
good behaviour.
24% of them are in favour of Neither good/bad.
While 4% of them are bad and 2% very bad.
The same information is presented in the form of diagrammatically as follows:-
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Diagram-3.1
22
48
24
4 2
0
10
20
30
40
50
60
Very good Good Neither good/bad
Bad Very bad
Response
Percent
Very good Good Neither good/bad Bad Very bad
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14. Are your queries cleared quickly?
Table:3. 14
Number of customers Percentage
Yes 82 82%
No 18 18%
Total 100 100%
The information presented in table3.14 reveals that:-
82% of the respondents are in favour that their enquiries are cleared
quickly at STFC .
While remaining 18% of them are telling their queries are not
cleared quickly.
The same information is presented in the form of diagrammatically as follows:-
Diagram-3.14
Yes82%
No
18%
Yes No
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15. Are you satisfied with the repayment system of STFC?
Table:3. 15
Number of customers Percentage
Yes 64 64%
No 36 36%
Total 100 100%
The information presented in table3.15 reveals that:-
64% of the respondents are Satisfied with repayment system at
STFC.
While remaining 36% of them requires changes in repayment
system.
The same information is presented in the form of diagrammatically as follows:-
Diagram-3.15
Yes
64%
No
36%
Yes No
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16. Do you recommend STFC to others?
Table:3. 16
Number of customers Percentage
Yes 68 68%
No 32 32%
Total 100 100%
The information presented in table3.16 reveals that:-
68% of the respondents are in favour of recommending STFC to
others for taking loan.
While remaining 32% of them are not in favour of recommending to
others.
The same information is presented in the form of diagrammatically as follows:-
Diagram -3.16
Yes68%
No
32%
Yes No
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17. Do you want to take finance in near future from STFC?
Table:3. 17
Number of customers Percentage
Yes 60 60%
No 40 40%
Total 100 100%
The information presented in table3.17 reveals that:-
60% of the respondents wants to take finance in near future from
STFC.
While remaining 40% of them are not in favour of taking finance
from STFC .
The same information is presented in the form of diagrammatically as follows:-
Diagram-3.17
Yes
60%
No
40%
Yes No
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CONCLUSION
Less than anticipated growth in the face of intensifying competition and rising
costs, can hardly be expected to get the company foaming.
By seeing the observations most of the customers are having positive
perception towards Shriram Transport Finance Company Limited and are
satisfied with their services such as Quick finance, Easy documentation process
etc. The company is progressing continously in the field of finance as Non-
Banking Finance Company to compete with other Financial as well as Non-
banking financial institutions.
STFC is the Non-Banking Financial Company in the Indian scenario and
it is the leader with monopoly position in financing for Heavy Commercial
Vehicles.
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SUGGESTIONS
The firm should tap the un-tapped locations & market. This will help
them in increasing the business. Rural places are advised
The company should bring down their interest rates compared to other
competitor rates.
The STFC should increase their seizing period from 3 months to 4
months during slack season if the customers fails to pay their
instalments.
The STFC should maintain consistency in customer satisfaction level in
future also.
The brand awareness campaigns should be conducted. The firm should
work on its Advertisements.
Number of customers complaints should be reduced, because always
cost is associated in solving these problems.
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CHAPTER-4
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Questionnaire
Dear Sir/Madam,
1.Do you own a HCV?
Yes [ ] No [ ]
2. Source of finance for your HCV?
Co-op banks [ ] STFC [ ] Tata finance [ ] Others [ ]
3. Are you aware of STFC?
Yes [ ] No [ ] ( If no go to Question No:- 17 ).
4. How did you come to know about this company?
Friends [ ] Agents [ ] Self experience [ ] Others [ ]
5. Do you get the finance quickly from STFC?
Yes [ ] No [ ]
6. Are you satisfied with the documentation process at STFC?
Strongly dis- satisfied [ ] Dis-satisfied [ ] Neithersatisfied/ Dis-satified [ ] Satisfied [ ] StronglySatisfied [ ]
7. Do you require any changes in the documentation process?
Yes [ ] No [ ]If Yes specify _______________________________.
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8.What do you feel about the interest rates at STFC?
Very High [ ] High [ ] Moderate [ ] Low [ ]
9. Are you satisfied by the percentage of finance provided bySTFC?
Yes [ ] If No specify _________.
10. Are you satisfied with the services offered by STFC?
Strongly dis- satisfied [ ] Dis-satisfied [ ] Neithersatisfied/ Dis-satified [ ] Satisfied [ ] StronglySatisfied [ ]
11. What are the features that attracted you to borrow loan fromSTFC?
Low interest rates [ ] Quick finance [ ]Easy documentation [ ] Low EMI [ ]
12. How do you rate STFC with respect to other finance companies( 1 being highest and 6 being lowest)/
1 [ ] 2 [ ] 3 [ ] 4 [ ] 5 [ ] 6 [ ]
13. What is your experience when you approached the executives ofSTFC for finance of HCV?
Very Good [ ] Good [ ] Neither Good/Bad [ ]
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Bad [ ] Very Bad [ ]
14. Are your queries cleared quickly?
Yes [ ] No [ ]
15. Are you satisfied with the repayment system of STFC?
Yes [ ] No [ ]
16. Do you recommend STFC to others?
Yes [ ] No [ ]
17. Name the other finance companies you know?
____________________________________.
18. Do you intend to take finance in near future from STFC?
Yes [ ] No [ ]
19. Please provide some suggestions in improving the quality ofservice at STFC?
_______________________________________________________
________________________________________________.
Please provide the below mentioned information:
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Name:_______________________________________________________
Address:_______________________________________________________
Occupation: _____________________________
Annual Income ______________________
Gender: Male [ ] Female [ ]
** Thank You **