PROJECT REPORT

ON
“CUSTOMER RELATIONSHIP MANAGEMENT
WITH
RELIGARE SECURITIES LTD”

BY

Gurvinder Singh
Religare Securities Limited
Summer Internship Project
(Batch 2009-2011)

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 PROJECT
ON
“CUSTOMER RELATIONSHIP MANAGEMENT
WITH
RELIGARE SECURITIES LTD”

COMPANY GUIDE FACULTY GUIDE

Mr. Balwinder Singh Dr. Gurpreet Randhawa

Branch Manager, G.N.D.U.

Religare Securities ltd. Amritsar
Mohali
SUBMITTED BY
GURVINDER SINGH
MBA (Gen) SEM-III
ROLL NO. -890883

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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 today’s
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 project work.
I would also like to acknowledge to my sincere gratitude to
our university faculty for 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.” has been
written and prepared by me during the academic year 2009-2010. This
project was done under the able guidance and supervision of Dr.
Gurpreet Randhawa, 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 efforts 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 Design
 Data 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. Findings
Chapter 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 approach

which 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 at the 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 Problem
2. 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.

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The main objective of my project is to find effective solution for the
Customer Relationship Management and accordingly increase the
credibility and profitability of the company. This study is more related 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 to identify
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, taking orders 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, it’s clear that it has very strong Customer
Relationship Management System and perfect people to handle it
properly 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 satisfaction level
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.

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On an average all the customers are happy with the company and look
forward to the growth of it.

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 provide a
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 of resource
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 no choice 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.

R 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 and services 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 its retail 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 depending upon a client’s 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.

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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

Name
Religare 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.

Symbol
The 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 to

place one’s 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 evolving environments 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.

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 VISION & MISSION
Company’s Vision –
“Providing integrated financial care driven by the relationship of trust
and confidence”.

Company’s Mission –
“To be India's first Multinational providing complete financial services
solution across the globe”.

Brand Essence –
“Core 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 services maintained
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 operating through
its 11 subsidiaries.
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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 of

The oldest broking firm in London, for a sum of GBP 55.5 million.

➢ 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, Malaysia and
Indonesia.

In India Religare’s geographical distribution is shown as follows:

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Religare Enterprises Ltd.

Religare’s Joint Ventures

AEGON RELIGARE LIFE INSURANCE

COMPANY
Life insurance Business (AEGON as a
partner)
For more for more information log on to
Page 18 of 71
 http://www.aegonreligare .com

RELIGARE MACQUARIE WEALTH

MANAGMENT LTD.
PrivateWealthBusiness (Macquarie,
Australian
Financial Services major as a partner)
For more information log on to
http://www.religaremacquarie.com

Vistaar Religare -The Film Fund

India’s first SEBI approved filmfund(Vistaar
as a partner)
For more information log on to
http://www.vistaarreligare.com

Milestone Religare – Private equity Fund

Milestone, one of India’s premier independent
Fund houses and Religare have come together
and trough the JV have formed an entity,
Milestone Religare investment advisors pvt
ltd.
For more information log on to
http://www.milstonereligare.com

Other Group Companies

Fortis Healthcare Limited, established in 1996

was founded on
the vision of creating an integrated healthcare
delivery system.

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 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 quality healthcare 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.
For more information log on to:
http://www.religarewellness.com:8080/default.html

Religare Technova Limited (formerly Fortis

Financial Services Limited)
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 Religare Enterprises Limited Key Data:
  Ticker: 532915 Country: INDIA

  Exchanges: BOM Major Industry: Financial

Securities
    Sub Industry:
Brokerage

16,718,848,000
  2010 Sales (Year Ending Jan Employees: N/A
2011).

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

Fiscal Yr Shares
  March 127,813,800
Ends: Outstanding:

Closely Held
  Share Type: Ordinary 42,765,660
Shares:

Religare Finvest
Religare Finvest Limited (RFL), a Non Banking Finance Company
(NBFC) is aggressively making a name in the financial services arena in
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

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RFL is also planning to initiate personal loan portfolio as fund based
activity 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 Religare’s vast business empire spread
throughout the country -- providing our valued clients insurance services
across India. We aim to have a wide reach with our services – literally!
That’s why we are catering the insurance 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 and assets through our existing network of over 150
branches – expected 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.

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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 organization providing
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:
 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

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  Initial Public Offerings (IPO)
 Mutual Fund Investment

Equity Trading
Trading in Equities with Religare truly empowers you for your
investment needs. We ensure you have superlative trading experience
through –

 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 its
presence in more than 1800* locations across more than 490* cities and
towns. This means, you can walk into any of these branches and connect
to our highly skilled and dedicated relationship managers to get the best
services.

Religare Enterprise Limited, through its subsidiaries, offers a range of

integrated financial products and services to retail inventors, high net
worth individuals, and corporate and institutional clients in India. It
operates in three divisions: Retail Spectrum, Wealth Spectrum, and
Institutional Spectrum. The Retail Spectrum division offers equity
brokerage, commodities brokerage, personal financial services,
including insurance brokerage and mutual fund distribution; internet
trading; loans against shares; and personal loans. The Wealth Spectrum
division provides portfolio management services, wealth advisory
services, and private client equity services, such as international equity
services. The company was formerly known as Religare Enterprises
Private Limited and changed its name to Religare Enterprises Limited in
July 2006. The company was incorporated in 1984 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 ranks amongst 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 bad deliveries 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 investment
advice 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 commencement
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and futures trading that might be introduced in the near future in the
areas of interest rates and Indian currency.

3. Greater reliance on research

Client 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 the
brokerage 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 securities
markets, 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 up stake in some of

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the leading brokerage firms, which might lead to creating of greater
interest in investing in brokerage firms by entities in India and abroad.

6. Specialized services/niche broking

While 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 broking
Several 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 range of 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 more complex, 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 offered by 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.
Page 29 of 71
11. Fragmentation
Indian brokerage industry is highly fragmented. Numerous small firms
operate in this space. Given the growing importance of technology 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 that governs
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 with global 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 individual
countries with cross border opportunities that helped to expand the scope

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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 provide greater
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 could
benefit 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 competition and
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 from regulation as also
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class action suits that investors might bring against 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 been
around 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 known as 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 short period 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 that the
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’s needs and behaviors in order to
manage and develop stronger relationships in an organized way with
them.

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Components of CRM:

1. Contact an Account Management:

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

4. Customer Service and support:

CRM system provides service representatives with adequate access to
customer database. It also helps to create, assign and manage the service
requests by customers. Calling format is designed to route customer calls
to respective attendants as per the skills and authority to handle special

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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
Service – operate independently of one another. This can create
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 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

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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. What‟s 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.

 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

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 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 above average returns to
investors."

Religare Buys Citi’s 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.
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 doesn’t lead to retail consumers who
want to mortgage their property.

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“The demographic of the citi’s 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 by fresh
organizations”, he said.
Citi group’s 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. Arora.
Religare finvest already provide mortgage finance to SME’s, equipment
companies and infrastructure firm at annual interest between 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 Citi’s home equity business
will take Religare Finvest’s assets to Rs 3300 Cr from Rs 2800 Cr at
present. The firm aims to create asset’s worth over Rs 10000 by 2012.
The deal is part of REL’S 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 companies who 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 the share
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 of
India (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.

Chapter 6.
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Primary Data Collection

Primary Data Collection

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Research Technique:
As the researcher, I adopted survey method as a research technique for
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 D‟mat 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.

f) Research Instrument:

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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

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clearly see sample includes more customers from first income group i.e.
INR 10,000 – 1 Lakh
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 customers and 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

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company through this practice. Every call is taped by default for the
evidence of orders to buy or sell the stocks and Emails too.

4. Do you find company‟s 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 the
company is on the height. It‟s nothing but the result of Relationship
Management.

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It is said that Share Market means “Well of Loss”, nevertheless
Religare’s Customer don’t have any tension in investing because they
believe in Company’s Researchers and Analysts and their investment
tips too.
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

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value and consideration about Religare because they invest their Hard
Earned money and take risk to earn more cause of Religare‟s Services
and Attachment and it is all the output of Customer Relationship
Management.
6. Where do you invest/ trade mostly?

Interpretation:

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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 don‟t want to invest for long time.And about currency some
people were not interested.

7. Where do you trade mostly?

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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
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of excitement and sometimes they feel their money seems to sink. It’s
like One Day Cricket play for many customers.
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 Intraday and
confident to trade in Delivery trading.
Very less traders population do trade in both area, for few people it‟s
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 doesn‟t lose its attention
from making money for its customers and lose its attention from
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 D‟mat 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-Operating by
them.
Here we get a fact that Religare‟s Customer Relationship Management
really has something very attractive and attachable to emotions cause of
services.
Few of them were hesitating while answering this question.

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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 services and customers satisfaction can
show a mirror of efforts of the company towards making their customers
loyal to them.

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.

 It empowers staff wit customer intelligence and best practices to

increase their likelihood of successful transactions.

 It increases customer‟s acquisition, retention, loyalty, and

profitability by integrating information across the enterprise.

 It enables executive and management to gain customer insight.

Customer Relationship Management Risks

 Effective internal controls must be in place to prevent customer
information from becoming scattered across databases and servers.

 CRM can be associated with significant revenue cycle.

 CRM should be kept and handled and carefully kept inside the
company only otherwise Customers Database can be misused by rivals.

Customer Common Findings while contacting:

 Generally people whom I have contacted they were from different
domains like Business, Proprietors, High Net worth Income Group
(HNIs) and students.

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 Their responses may not be proper because of their „Busyness‟ in
Dealing Room.

 This data is called Primary Data, which is considered very genuine

but is this case it misrepresents the Reality and Credibility.

 Some people, its felt that they gave fake response, with impression
that this questionnaire is from Religare Securities internal.

 Some people did not take it serious because this was not important to
them as they are busy for trading at dealing Room.

 Every data interpretation and statistics cannot be think worthy from

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 in terms
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
Company‟s 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 much business
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.

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Suggestions

1. Short Duration:

Project research duration was only for six weeks, in this tenure neither
study nor observation can be done properly. For example, we saw
sample plan – in 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.

2. Customer Category:

To find effective Customer Relationship Management, Broking firm

can 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.

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.

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3. Affiliated Awareness Programs:

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.

With the help of it companies CRM will help it to get height of success
and dominate the world of Services. Because CRM affects Marketing,
Sales and profitability and these all can be achieved by CRM.

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 company’s investment tips useful and beneficial?

Yes No Can’t 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?

Equity Commodity Currency

9. Where do you trade mostly?

Intraday trading Delivery Trading

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10. Do you trade in any other broking firm?

Yes No

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 company’s services?

14. Which service do you like most in Religare?

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 Bibliography

Websites
http://deadpresident.blogspot.com
http://religareonline.com
http://www.religaresecurities.com

Newspapers
The Economic Times
Business Standard

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