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 Prof. B.S.Hundal Branch Manager, G.N.D.U. Religare Securities ltd. Amritsar Mohali SUBMITTED BY GURVINDER SINGH
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ACKNOWLEDGEMENT
It is said, the most important single word is WE and the zero important single word is I. This true even in todays modern era. It is absolutely impossible for a single individual to complete the assigned job without help and assistance from others. It is my greatest pleasure to acknowledge sincere gratitude towards Mr. Balwinder Singh (Branch Head), Mr. Ashwani Bhardwaj (Sr. Relationship Manager) and Mr. Raman Kumar Saili (Project Head) Religare Securities Ltd. Mohali, for the completion of the 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 Prof. B.S.Hundal, Faculty, Guru Nanak Dev University, Amritsar and Mr. Balwinder Singh, Branch Manager, Religare Securities Ltd., Mohali in partial fulfillment of the requirement for the Master of Business Administration Degree course of the Guru Nanak Dev University. I also declare that this project is the result of my own effort and has not been submitted to any other institution for the award of any Degree or Diploma. Place: Mohali Gurvinder Singh

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TABLE OF CONTENTS
Chapter 1. Rationale of the Study. Chapter 2. Objectives of the study. Title of the project Objective of the study Scope of the study Chapter 3. Profile of the company. Chapter 4. Review of Literature. Chapter 5. Research Methodology Research 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. 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
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to consumer behavior and perception about the facilities and convenience provided by the company, Customer Satisfaction is emphasized in this management. o Helping an enterprise to enable its marketing departments 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, its 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. On an average all the customers are happy with the company and look forward to the growth of it.

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C. Scope of the study:

Scope the this study is it will assist Religare to get its own Customer Relationship Management system mirror well and it will get all the important things before eyes to apply all the possible ways to 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.

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 clients risk / return parameter. Religare has a very credible Research and Analysis division, which not only caters to the need of our Institutional clientele, but also gives their valuable inputs to investment dealers.

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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 ones own faith in another. To have a relationship as partners in a team. To accomplish a given goal with the balance that brings satisfaction to all not in the binding but in the bond that is built. The third leaf of the clover represents C are. The secret ingredient that is the triumph of diligence in every aspect. From it springs true warmth of service and the ability to adapt to 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.

VISION & MISSION

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

Companys Mission
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To be India's first Multinational providing complete financial services solution across the globe.

Brand 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. 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.
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 Acquisition to boost the institutional and investment banking operations of Religare and extend its geographical reach to London, South Africa, Argentina, Brazil, Dubai, Qatar, Singapore, Malaysia and Indonesia. In India Religares geographical distribution is shown as follows:

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Religare Enterprises Ltd.

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Religares Joint Ventures

AEGON RELIGARE LIFE INSURANCE COMPANY Life insurance Business (AEGON as a partner) For more for more information log on to 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

Indias 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 Indias 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
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http://www.milstonereligare.com

Other Group Companies

Fortis Healthcare Limited, established 1996 was founded on the vision of creating an integrated healthcare delivery system. With 22 hospitals in India, including multi-specialty & super specialty centres, the management is aggressively working towards taking this number to a significant level in the next few years to provide 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.
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For more information log on to: http://www.religarewellness.com:8080/default.html

Fortis

Religare Technova Limited (formerly Financial Services Limited)

Religare Enterprises Limited Key Data: Ticker: Exchanges: 532915 BOM Country: Major Industry: Sub Industry: 16,718,848,000 (Year Ending Jan 2011). Indian Rupees March Ordinary INDIA Financial Securities Brokerage N/A 52,403,658,000 127,813,800 42,765,660

2010 Sales Currency: Fiscal Yr Ends: Share Type:

Employees: Market Cap: Shares Outstanding: Closely Held Shares:

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Religare Finvest
Religare Finvest Limited (RFL), a Non Banking Finance Company (NBFC) is aggressively making a name in the financial services 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 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 Religares vast business empire spread throughout the country -- providing our valued clients insurance services across India. We aim to have a wide reach with our services literally! Thats why we are catering the insurance
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requirements of both retail and corporate segments with products of all the insurance companies on life and non-life side Still, there is more in store. We also cater individuals with a complete suite of insurance solutions, both life and general to mitigate risks to life 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. 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:
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Equity Broking - BSE and NSE Derivatives Futures and Options Internet Broking- Online Trading Commodities Trading - NCDEX & MCX Institutional Broking Depository Services - NSDL & CDSL Portfolio Management Services NRI Investments Initial Public Offerings (IPO) Mutual Fund Investment

Equity Trading
Trading in Equities with Religare truly empowers you for 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
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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
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commencement and futures trading that might be introduced in the near future in the areas of interest rates and Indian currency. 3. Greater reliance on 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 the leading brokerage firms, which might lead to
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creating of greater interest in investing in brokerage firms by entities in India and abroad. 6. Specialized services/niche 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.
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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 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
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scope and significance of the business. Initial measures to promote South Asian economic integration is being made by governments in the region first at the political level to be followed up in regard to financial markets. South Asian economic integration will 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 class action suits that investors might bring against
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erring firms. The nature of penalties and punitive damages would become more severe. It is important for brokerage firms to establish strong and streamlined systems and procedures for ensuring investor safety and protection.

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Chapter 4.
Literature Review

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Literature Review
Historical Background: Customer relationship management (CRM), a concept that has 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 eeverything. 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 needs and behaviors in order to manage and develop stronger relationships in an organized way with them.

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.
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4. Customer Service and support: CRM system provides service representatives with adequate access to customer database. It also helps to create, assign and manage 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 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
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may not communicate with each other- could actually damage your business. With comprehensive CRM system, however, customer communication is captured and housed in an accessible database, making the most current information available to anyone who needs it and has access to the system. By breaking through barriers between various business functions and making communication transparent, your company can act in a more consistent and unified fashion with its customers, instilling a greater level of trust and strengthening customer relationships. Religare Securities Limited (RSL) provides a host of financial services under one roof following a ONE STOP SHOP philosophy. It has a dedicated team of professionals to cater to the variety of services to Individuals, Corporate and Institutions. The team updates its clients with opportunities - with a sense of competitive urgency and risk management. Whats more, their special analysts design customized services for HNI and Institutions. Over the years Religare Securities Ltd. has played a successful role in client's wealth creation. In the process Religare Securities Ltd. also refined itself, as an investment advisor and is poised to provide complete Investment Management Solutions to its valued clientele.

The following is the product profile of the company.

- BSE and NSE - Online Trading - NCDEX & MCX - NSDL & CDSL
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Initial Public Offerings (IPO)

NEWS:
Religare Securities bags LIPPER-STARMINE Award for Excellence in Research Mumbai, February 18, 2009: Religare Securities Limited a wholly owned subsidiary of Religare Enterprises Limited has been recently awarded the LIPPER-STARMINE broker award for "Earnings Estimates in Midcap Research for 2008". The Lipper| StarMine Awards organized by Thomson Reuters, for Asset Management and sell-side broking Companies in India, were announced last week in Mumbai. The awards recognize analysts who are more accurate than their peers in forecasting earnings, awarding credit to those who demonstrate an ability to make accurate estimates earlier than their peers. On receiving the award, Mr. Amitabh Chakraborty, President (Equity), said, "We are extremely proud to receive this award as a validation of our efforts in what was the most difficult and volatile year in stock market and corporate history. It is in these difficult times that the ability of a team to accurately estimate corporate earnings stands its truest test and we have succeeded in enabling our customers to make informed buy or sell recommendations in order to give above average returns to investors." Religare Buys Citis Reverse Mortgage Biz Religare Enterprises Ltd.(REL), a financial service firm owned by billionaire brothers Malvinder Singh and Shivinder Singh, has acquired a part of citi group home loan profile in India for about Rs. 500 crores.
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REL, through its wholly-owned non-banking finance company, Religare Finvest, has bought the home equity business of citi group in the country the division leads money against the property already owned by a self employed businessman. The unit doesnt lead to retail consumers who want to mortgage their property. The demographic of the citis home equities customers perfectly suited us in terms of their assets, locations and profile, Kavi Arora, CEO at Religare finvest, told ET adding the transfer process is expected to be completed by Sep. A source at citi bank described the transaction as a small portfolio sale as a part of a routine transaction . Such assets sold substituted by fresh organizations, he said. Citi groups total home loan business, including the home financing an mortgage part, is around rs 9000 cr. The home equity business has about 1700 contracts with around rs 500 cr. Assets under mgt, Mr. Kavi Arora. Religare finvest already provide mortgage finance to SMEs, equipment companies and infrastructure firm at annual 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 Citis home equity business will take Religare Finvests assets to Rs 3300 Cr from Rs 2800 Cr at present. The firm aims to create assets worth over Rs 10000 by 2012. The deal is part of RELS expansion drive which includes a plan to invest $1bn (Rs 4600 Cr) globally for strategic investments.

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

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Equities
What is equity?
Funds brought into a business by its shareholders is called equity. It is a measure of a stake of a person or group of persons starting a business.

What does investing in equity mean?

When you buy a company's equity, you are in effect financing it, and being compensated with a stake in the business. You become partowner 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.

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Chapter 6. Primary Data Collection

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Primary Data Collection

Research Technique: As the researcher, I adopted survey method as a research 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 Dmat A/c with Religare Securities Ltd. b) Sample Size The sample size undertaken by me for this particular project report is 100 respondents. c) Sample Element The respondents contacted and interviewed in this project report are all from different domain some of them were Businessmen, High Networth Investors, Proprietors, even Students also invest in Share Market. d) Sample Extent As a researcher, I conducted this survey only for the customers in Regional Office of Religare Securities, Mohali. e) Sample Duration The survey was undertaken from the 01st June, 2010 to 15th July, 2010.
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f) Research Instrument: Questionnaires containing both open ended and close ended questions were used as a research instrument in this particular project report.

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Chapter 7. Data Analysis & Interpretation

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Data Analysis & Interpretation 1. Respondents

Interpretation: Above pie chart represents that research contains 100 respondents which are Businessmen, HNIs, Proprietors and Individuals and they are 30, 8, 24, 38 respectively in numbers and percentages.

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2. Income Group(Annual):

Interpretation: Above pie chart represents that the research contained 100 investors and customers of Religare Securities Ltd. All the people were from different different Income group which are in numbers shown above. W e can clearly see sample includes more customers from first income group i.e. INR 10,000 1 Lakh

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3. Company Interaction via Email and Telephone Calls:

Interpretation: From the above result of Company Interaction via Email and Telephone calls, we can imagine the satisfaction level of 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.

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

Interpretation: When it was asked sudden and on the time answer was the same of maximum people, it means the credibility and trustworthiness of the company is on the height. Its nothing but the result of Relationship Management. It is said that Share Market means Well of Loss, nevertheless Religares Customer dont have any tension in investing because they believe in Companys Researchers and Analysts and their investment tips too.

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

Interpretation: From the above answers Customer Relationship can be very well highlighted because out of 100, 43 people have rated Religare on the scale of 1 to 10 and again in remaining maximum customers say that they rate Religare at on the scale of 1 to 10.Every customer has his own value and consideration about Religare because they invest their Hard Earned money and take risk to earn more cause of Religares Services and Attachment and it is all the output of Customer Relationship Management.

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6. Where do you invest/ trade mostly?

Interpretation: One general question was asked in questionnaire to know the investment flow of customers towards Religare Services. When it was asked why they invest in specific area mostly then it was answered by many people that liquidity market is easy to make money out of investment and take money out whenever we feel not to put. And other reason many customers dont want to invest for long time.And about currency some people were not interested.
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7. Where do you trade mostly?

Interpretation: From the above view of graph we come to know that maximum people, 61% customers trade in Intraday Trading. On this customers say they like to trade in Intraday because of Short term investment and high level of excitement and sometimes they feel their money seems to sink. Its like One Day Cricket play for many customers.
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In Delivery, people say here is No / Low Risk, More Money, in this people say if scrip goes down like Satyam, then also we get chance to book profit buying current stocks in low price and putting old stock aside temporarily. Here we find people hesitate to invest in Intraday and confident to trade in Delivery trading. Very less traders population do trade in both area, for few people its nothing but fund managing, if one finds difficulty in making money in Intraday, they simultaneously manage their fund for Delivery, but very few people feel do this type of management. Eventually Religare is the Broking firm and it doesnt lose its attention from making money for its customers and lose its 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 Dmat A/c and Trading A/c somewhere else also nevertheless they say they trade from Religare only and few of their other A/cs are put Non-Operating by them. Here we get a fact that Religares Customer Relationship Management really has something very attractive and attachable to emotions cause of services. Few of them were hesitating while answering this question. 9. Are you satisfied with the services provided by Religare?

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Interpretation Above chart represents us the output of Customer Relationship Management with the help of the services and customers satisfaction can show a mirror of the efforts of the company towards making their customers loyal to them. Here 64% customers have selected and stated that they are fully satisfied with the services that they are getting from Religare Securities Ltd.

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

Interpretation:

This question was asked intentionally to know the loyalty of customers with Religare Securities Ltd., which is nothing but the back-screen coding of on screen output. These all things are the proud of Religare and its customers are also very proud to be in Religare.

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Findings
Customer Relationship Management Business Drivers and Benefits

It empowers management with a real-time pipelines and forecasting so they can build and focus on high profit, sustainable relationships. and best practices to increase their likelihood of successful transactions.

profitability by integrating information across the enterprise. tomer insight. Customer Relationship Management Risks information from becoming scattered across databases and servers.

company only otherwise Customers Database can be misused by rivals. Customer Common Findings while contacting: domains like Business, Proprietors, High Net worth Income Group (HNIs) and students.

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Dealing Room.

but is this case it misrepresents the Reality and Credibility.

that this questionnaire is from Religare Securities internal. people did not take it serious because this was not important to them as they are busy for trading at dealing Room.

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

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Chapter 8. Limitations

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Limitations
Findings are according to the observations. 1. Many consultants, vendors, and analysts today define CRM 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 Companys A/c due to increment in expenses in serving customers all the ways and Return on investment means consideration may not be more than expected. Customer may not give that 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.

Suggestions
1. Short Duration: o Project research duration was only for six weeks, in this tenure neither study nor observation can be done properly. For example, we saw sample 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.
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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. o In this system at all the level where CRM is handled and watched by Top class officials of the company, they also get to know the list names and details of the loyal customers and CEO or Board of Directors also get to know total customers and at last their turnover of the total transaction. 3. Affiliated Awareness Programs: o Religare should arrange affiliated programs within its own groups to come to the sense of new people and accordingly to prospecting and acquiring new customers. o With the help of it companies CRM will help it to get height of success and dominate the world of Services. Because CRM 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 and accordingly Religare can become the first ranker in turnover very soon.
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Appendix
I. Copy of questionnaire II. Bibliography

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Questionnaire
1. Name:________________________________________________ 2. Contact No:________________________________________________ 3. Occupation: Businessman Proprietor HNI Individual 4. Income Group(Annual): 10000 - 1 Lakh 1 Lakh - 5 Lakh

5 Lakh-10 Lakh 10 Lakh - Above 5. How do you find Company Interaction via Email and Telephone Calls ? Poor Fair Good Very Good

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

Yes No Cant Say

7. Where do you rate Religare on the scale of 10 in terms of Services? 1-4 5-7 8-10 8. Where do you invest/ trade mostly? Equity Commodity Currency 9. Where do you trade mostly? Intraday trading Delivery Trading 10. Do you trade in any other broking firm?
Yes No
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If Yes, name of the broking firm_______________________ 11. Are you satisfied with the services provided by Religare?
Yes No

12 Since last how many years you are in field of trading? Less than 1 Year More Than 1 Year More than 5 Year 13. What improvement do you want be done in companys services? 14. Which service do you like most in Religare?

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Bibliography
Websites http://deadpresident.blogspot.com http://religareonline.com http://www.religaresecurities.com Newspapers The Economic Times Business Standard

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