Customer Relationship Management With Religare Securities- Junaid Dhariwala

8/8/2019 Customer Relationship Management With Religare Securities- Junaid Dhariwala

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PROJECT ON

CUSTOMER RELATIONSHIP MANAGEMENT

WITH

RELIGARE SECURITIES LTD

(REGIONAL OFFICE, BMCC ROAD, PUNE)

MASTER OF BUSINESS ADMINISTRATION (MBA)(MARKETING)

SUBMITTED IN PARTIAL FULFILLMENTS OF

REQUIREMENTS FOR AWARD OF

MASTER OF BUSINESS ADMINISTRATION OF TILAK

MAHARASHTRA

UNIVERSITY, PUNE

Submitted By

Md. Junaid Y. Dhariwala

PRN:

Of PAI International Centre for Management Excellence, Pune

Tilak Maharashtra University

Gultekdi, Pune 411037



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Tilak Maharashtra University, Pune

(Deemed Under Section 3 of UGC Act 1956 Vide Notification

No. F.9-19/85- U3 dated 24 th April 1987 By the Government of India.)

Vidyapeeth Bhawan, Gultekdi, Pune - 411 037.

CERTIFICATE

This is to certify that the project titled “ Customer Relations

Management in Religare Securities Ltd, Pune” Is a bonafide

work carried out by Mr. /Ms.MD. Junaid Y. Dhariwala a student

of Master of Business Administration Semester 3rd , SpecializatioMarketing.

P.R.N. _____ Under Tilak Maharashtra Universit

year 2009.

Head of Department Examiner Examiner

Internal External

Date:

Place: University Seal



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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 i n 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 Mrs. Priya

Venkatraman (Sr. Relationship Manager) Religare Securities Ltd., Pune, for the

completion of the project work.

I would also like to acknowledge to my sincere gratitude to our Director Prof . R

Ganesan and my project guide Prof. Roshan Kazi 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.

Md. Junaid Dhariwala



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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

Copies of form or any from the company

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 failureof 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





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CHAPTER 2.

OBJECTIVE OF THE STUDY



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OBJECTIVES OF THE PROJECT

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 RelationshipManagement‟ for Religare Securities Ltd., Pune 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.



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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.

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.



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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 Limited (REL):

Religare, a Ranbaxy promoter group company, is one of the leading

integrated financial services institutions of India. The company offers a large

and diverse bouquet of services ranging from equities, commodities,

insurance broking, to wealth advisory, portfolio management services,

personal finance services, Investment banking and institutional broking

services. The services are broadly clubbed across three key businessverticals- Retail, Wealth management and the Institutional spectrum.

Religare Enterprises Limited is the holding company for all its businesses,

structured and being operated through various subsidiaries.

Religare‟s retail network spreads across the length and breadth of the

country with its presence through more than 1,217 locations across more

than 392 cities and towns. Having spread itself fairly well across the country

and with the promise of not resting on its laurels, it has also aggressively

started eyeing global geographies

Religare Enterprises Limited (REL) is one of the leading integrated

financial services groups of India. REL‟s businesses are broadly clubbed

across three key verticals, the Retail Institutional and Wealth spectrums,

catering to a diverse and wide base of clients. The vision is to build Religare

as a globally trusted brand in the financial services domain and present it as

the „Investment Gateway of India‟ .



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All employees of the group guided by an experienced and professional

management team are committed to providing financial care, backed by the

core values of diligence and transparency. REL offers a multitude of

investment options and a diverse bouquet of financial services with its panIndia reach in more than 1800 locations across more than 490 cities and

towns. REL operates globally following its acquisition of London‟s oldest

brokerage and investment firm, Hichens, Harrison and Co. plc. With a view

to expand, diversify and introduce offerings benchmarked against global

best practices, Religare operates its Life Insurance business in partnership

with the global major- AEGON. For its wealth management business

Religare has partnered with Australia based financial services major-

Macquarie. Religare has also partnered with Vistaar Entertainment to launch

India‟s first SEBI approved Film Fund offering a unique alternative asset

class of investments.

Religare Securities Limited (RSL), a 100% subsidiary of Religare

Enterprises Limited is a leading equity and securities firm in India. The

company currently handles sizeable volumes traded on NSE and in the realm

of online trading and investments; it currently holds a reasonable share of

the market. The major activities and offerings of the company today are

Equity Broking, Depository Participant Services, Portfolio Management

Services, International Advisory Fund Management Services, InstitutionalBroking and Research Services. To broaden the gamut of services offered to

its investors, the company offers an online investment portal armed with a

host of revolutionary features.



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o 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.

o 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.

o 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.

Trading in Equities with Religare truly empowers you for your

investment needs. We ensure you have superlative trading experience

through –



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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.

The Religare Edge

o Pan India footprint

o Powerful research and analytics supported by a pool of highly skilled

research analysts

o Ethical business practices

o Single window for all investment needs through your unique CRN





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Industry Profile



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Industry Profile

While regulation and reforms have made major improvements in the

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

largely due to strong and efficient market intermediation. The robustness of

the Indian markets today is attributable to a healthy blend of the quality of

market Structure and efficient intermediation. Even as several countries are

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

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

nature of the Indian brokerage industry.

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

dramatic transformation. From being made of close groups, the broking

industry today is one of the most transparent and compliance oriented

businesses. Long settlement cycles and large scale 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.



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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 frombeing 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; 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.



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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 and

futures trading that might be introduced in the near future in the areas of

interest rates and Indian currency.



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3. Greater reliance on research

Client advising in India has graduated from personal insights, market

tips to becoming extensively research oriented and governed byfundamentals 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.



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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 financialinstitutions 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 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 costsand 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



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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.

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 continuouslyupdated 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



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for in-depth training and skills sets on topics such as trading programs,

valuations, economic and financial forecasting and company research.

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 inoperations. Given the nature of the brokerage industry being very dynamic,

changes could be rapid and so as the challenges that emerge from time to

time. A brief description on some of the prospects and challenges of the

brokerage firms are discussed below.



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11. Fragmentation

Indian brokerage industry is highly fragmented. Numerous small

firms operate in this space. Given the growing importance of technology inoperations 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 forinvesting 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.



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14. Opportunities from regional finance

Regional economic integration such as that under the European Unionand the ASEAN have greatly benefited businesses in the individual countries

with cross border opportunities that helped to expand the scope and

significance of the business. Initial measures to promote South Asian

economic integration is being made by governments in the region first at the

political level to be followed up in regard to financial markets. South Asian

economic integration will 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.



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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 firmswith 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 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, Internetmarketing, 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).



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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.

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

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

manage and develop stronger relationships in an organized way 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.



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2. Sales:

Sales process management follows a customized sales methodology

with specific sales policies and procedures. Sales activities include – Product

information, Product configuration, sales prospectus and sales quote

generation. CRM also provide the history of customer account so that the

sales call can be scheduled accordingly.

3. Marketing and fulfillment:

CRM helps the professionals in product marketing, target marketing,

relationship marketing and campaign management. By analyzing customer

and business value of direct marketing can be estimated. CRM also helps in

customer retention, behavior prediction, channel optimization,

personalization. Customer response and requests can be quickly scheduled

and hence sales contacts.





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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. Thiscan 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.



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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 particularlyproblematic 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 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 andInstitutions.



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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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Stock Data

Religare Securities Limited (RSL)

Current Price (9/4/2009): INR- 391.10

Recent Stock Performance:

1 Week -0.1% 13 Weeks 5.6%

4 Weeks -17.6% 52 Weeks 1.8%

Religare Enterprises Limited Key Data:

Ticker: 532915 Country: INDIA

Exchanges: BOM Major Industry: Financial

Sub Industry: Securities Brokerage

2008 Sales8,964,404,553

(Year Ending Jan 2009).Employees: N/A

Currency: Indian Rupees Market Cap: 29,854,462,060

Fiscal Yr Ends: March Shares Outstanding: 76,334,600

Share Type: Closely Held Shares: 41,187,500

http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C35600120






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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."



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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

beingcompensated 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 (SEE next page).

You surrender material securities registered in your name to a

Depository Participant (DP). These are then sent to the respective companies



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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 intopaper certificates, the Depository can help to revive the paper shares.

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



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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 i s 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 RelationshipManagement 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.



45

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.

Type of Analysis:

The analysis done in this particular project report is statistical.



46

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.

http://www.religaresecurities.com/

http://www.religaresecurities.com/



47

Chapter 6.

Primary Data Collection



48

Primary Data Collection

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.



49

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, Pune.

e) Sample Duration

The survey was undertaken from the 01st June, 2009 to 30th July,

2009 i.e. for two months.

f) Research Instrument:

Questionnaires containing both open ended and close ended questions

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



50

Chapter 7.

Data Analysis & Interpretation



51

Data Analysis & Interpretation

1. Respondents:

Respondents Businessmen HNIs Proprietors Individuals

Number of

respondents

30 8 24 38

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.

30%

8%24%

38% Businessmen

HNIs

Proprietors

Individuals



52

2. Income Group(Annual):

Income Group

(INR)

10000 - 1 Lakh 1 Lakh - 5

Lakh

5 Lakh-10

Lakh

10 Lakh -

Above

Number of

respondents

43 37 13 7

Interpretation:

Above pie chart represents that the research contained 100 investors

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

different Income group which are in numbers shown above. W e can clearly

see sample includes more customers from first income group i.e. INR 10,000

– 1 Lakh

43%

37%

13%7%

10000 - 1 Lakh

1 Lakh - 5 Lakh

5 Lakh - 10 Lakh

10 Lakh - Above



53

2. Company Interaction via Email and Telephone Calls:

Interaction Via

Email and

Telephone Calls

Poor Fair Good Excellent

Number of

respondents

2 11 59 18

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 company

through this practice. Every call is taped by default for the evidence of

orders to buy or sell the stocks and Emails too.

Excellent

Good

Fair

Poor



54

3. Do you find company‟s investment tips useful and beneficial?

Investment Tips Yes No Can‟t Say

Number of

respondents

96 1 3

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.

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 an d their investment tips

too.

96%

1% 3%

Yes

No

Can't Say



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

Services?

Religare on the

scale of 1 to 10

4 6 8 10

Number of

respondents

4 14 40 42

Interpretation:

From the above answers Customer Relationship can be very well

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

1 to 10 and again in remaining maximum customers say that they rate

Religare at on the scale of 1 to 10.Every customer has his own value and

consideration about Religare because they invest their Hard Earned money

and take risk to earn more cause of Religare‟s Services and Attachment and

it is all the output of Customer Relationship Management.

4%14%

40%

42% 4

6

8

10



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5. Where do you invest/ trade mostly?

Where Customers

Invest mostly

Equity Commodity Currency

Number of

respondents

66 19 15

Interpretation:

One general question was asked in questionnaire to know the

investment flow of customers towards Religare Services. When it was asked

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

that liquidity market is easy to make money out of investment and take

money out whenever we feel not to put.

And other reason many customers don‟t want to invest for long

time.And about currency some people were not interested.

66%19%

15%Equity

Commodity

Currency



57

6. Where do you trade mostly?

Where Customers

Trade mostly

Intraday Delivery Both

Number of

respondents

48 37 15

48%

37%

15%

Intraday

Delivery

Both



58

Interpretation:

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

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

like to trade in Intraday because of Short term investment and high level of

excitement and sometimes they feel their money seems to sink. 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.



59

7. Do you trade in any other broking firm?

Trade in other

Broking Firm

Yes No

Number of

respondents

73 27

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.

73%

27%

Yes

No



60

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

Satisfaction Strongly Yes Slightly

Yes

No Strongly

No

Slightly

No

Number of

respondents

64 35 1 0 0

Interpretation:

Above chart represents us the output of Customer Relationship

Management with the help of the services and customers satisfaction canshow a mirror of the efforts of the company towards making their customers

loyal to them.

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

satisfied with the services that they are getting from Religare Securities Ltd.

64%

35%1%

0%

Strongly Yes

Slightly Yes

No

Slightly No





62

Findings



63

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.



64

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.

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.



65

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.



66

Chapter 8.

Limitations



67

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.



68

Suggestions



69

Suggestions

1. Short Duration:

o Project research duration was only for two months, in this

tenure neither study nor observation can be done properly. For

example, we saw sample plan – in that only 100 customerscould 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 :

o 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.



70

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

watched by Top class officials of the company, they also get toknow the list names and details of the loyal customers and CEO

or Board of Directors also get to know total customers and at

last their turnover of the total transaction.

3. Affiliated Awareness Programs:

o Religare should arrange affiliated programs within its own

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

prospecting and acquiring new customers.

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

success and dominate the world of Services. Because CRM

affects Marketing, Sales and profitability and these all can be

achieved by CRM.

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

documentaries and Advertisement with „Religare Vistaar‟ this

will result in getting more and more customers to serve andaccordingly Religare can become the first ranker in turnover

very soon.



71

Appendix

I. Copy of questionnaire

II. Bibliography

,



72

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



73

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?

4 6 8 10

8. Where do you invest/ trade mostly?

Equity Commodity Currency

9. Where do you trade mostly?

Intraday trading Delivery Trading

10. Do you trade in any other broking firm?

Yes No

If Yes, name of the broking

firm__________________________________



74

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

Yes No

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

Less than 1 Year More Than 1 Year More than 5

Year

12. What improvement do you want be done in company’s

services?

____________________________________________________

______________________________________________________

______________________________________________________

_______________

13. Which service do you like most in Religare?

____________________________________________________

____________________________________________________________________________________________________________

_______________



Bibliography

Websites =

http://deadpresident.blogspot.com

http://religareonline.com

http://www.religaresecurities.com

Newspapers =

The Hindu

Books =

http://deadpresident.blogspot.com/

http://religareonline.com/

http://religareonline.com/

http://deadpresident.blogspot.com/

Documents

Customer Relationship Management With Religare Securities- Junaid Dhariwala