A

Project Report
on study of
“sales and marketing,study of Brokerage Structure in
reference of other Broking House”

AT
RELIANCE MONEY
PUNE

submitted by
laxmikant singh

REG.NO =35

A REPORT SUBITED IN PARTIAL FULFILLMENT OF

THE REQUIREMENT OF THE MASTER IN e-BUSINESS

ADMINISTRATION(MeBA)COURSE

INDIAN INSTITUTE OF e-BUSINESS MANAGEMENT

WAKED PUNE-57
2008-2010

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 ACKNOWLEDGEMENT

This research was made possible as per the requirement of the MBA course under

Indian Institute Of e-Business Management .Many individual took interest and were

supportive of my effort. In fact, many have given me their time generously and it is

not possible to mention all of them here and there act of goodness. I take the

opurtunity to place and record my deep sense of gratitude to all who have helped me

in completion of my study

I express my heartiest thanks to Mr. Manish shukla, Mob.No (9325101044) (Central

Head) of capital market of Reliance Money, who took keen interest towards my project

and provided me with deep insight on R.MONEY

I am deeply indebted to my mentor and guide Mr.Tushar Saboo, assistant senior agent

in reliance money.

I would be failing in my duties if I don‘t express my sincere gratitude to my parents for

their constant support and guidance. I also humbly thanks my friend and batch mates

.Ankit Agarwal for his generous participation in the data collection process.

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 PREFACE

This training undergone at reliance money(pune) within a period of nine

(06.05.2009 to 06.07.2009) has imparted me in depth of knowledge on various aspect of

corporate governance and marketing channel.

Cost effectiveness is the buzz word today . so, efficient use of working capital is

important from the point of view of both profitability and liquidity.

An effort has been made in the present study ―sales and marketing ― with respect to

Reliance Money(pune), to understand the different financial and marketing implication

and to make and in-depth study of various element of brokerage charges in reliance

money(pune) so as to come out with an effective result of the study and simultaneously to

suggest scope for further improvement in the management working capital

3
 DECLARATION

I here declare that this project entitle work with sales and marketing is a record

Of independent work carried out by me under the guidance of tushar saboo senior

Supervisor(marketing) as per the curriculums requirement in master in e-business

Administration of master in e-business management

Name : Nitin Nishad

Specialization : Marketing & Finance

Indian institute of e-business management (pune)

4
 OBJECTIVES OF THE STUDY

It is said that an objective well defined is half done. Thus in order to make sure that the
proper survey ensures defining clear-cut objective and outline is a prerequisite.
Objective serves as torchlight in a project. It lays down a well-defined path between start
and the end and that is the goal. As also an objective is well defined and it is important
for the research study that a scholar undergoes.

It is an action, a purpose, which is directed to a person to conduct a study. It represents a

fact having actual existence of outside the mind or a goal for which the study is to be
conducted.

The objective of our study is:-

1) To know the various functions which are conducted for day-to-day operations in
RELIANCE MONEY.
2) To know the various norms adopted by RELIANCE MONEY.
3) To know the various products and services rendered to its customers.
4) To know whether the services provided by RELIANCE MONEY is able to attain
its customer‘s satisfaction or not.
5) To find and try to bridge the gap between the expectations and experiences of the
customers in case of dissatisfaction.
6) To know how the branch functions in terms of sales and operations.
7) To market and to promote the products of RELIANCE MONEY.
8) To generate new business opportunities for RELIANCE MONEY by opening up
franchisees.

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 METHODOLOGY ADOPTED

Whether it is an army attack to the enemy air base or the way to the theme park we have
to proceed in a very cautious and a planned way. One mistake could give us heavy losses.
We know what to do, how to do in a perfect way and what should be the procedure so
that we are not lost in a way is dwelled by methodology adopted.
In dealing with any real life problem it is often found that data at hand is adequate, hence
it becomes necessary to collect data rather appropriate.
There are several ways of collecting data while doing the project or any survey. In this
project, I have collected from two sources that are:

1. Primary sources
2. Secondary sources

PRIMARY SOURCE:

I have gathered information about our project from the interaction with the customers of
our company i.e. Reliance Money. The sampling method used was basically convenience
sampling and most of the calls made were cold calls made on the generated database of
recipients of other companies.

SECONDARY DATA:

The secondary data, I have collected from the various websites of reliance money,
various journals, magazines etc.

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The methodology adopted in the procedure followed in order to give the projects its
shape is:

 Having a proper understanding of working of a financial company.

 Inquiring and looking into the practicalities of work environment to have a
correct insight of process adopted.
 Gaining information from files, documents, folders and soft copy stored in
system.
 Seeking information from the staff and taking their views in consideration.
 Browsing the website of various financial institutions and BSE and NSE for
the necessary information required.
 Finally compiling the primary and secondary data gathered, then making a
study of option available.

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 EXECUTIVE SUMMARY

This report is structural as well as procedural study about the extent of flexibility and
transparency present inside the framework of financial industry.

Organization is constantly changing. These changes often result from events which alter
the establishment status quo in some way such as the introduction of new technology
process changes organization merges or restructuring.

Reliance money in its span of two years has undergone many innovations whether it is in
its field of technologies or whether it is customer satisfaction. In this period of our
training we have learnt all the operations done by reliance money i.e. opening of D-MAT
account, filling forms, verification of the form, rectification of the form, checking the
status of the clients, handling the queries of the customers, gaining knowledge about the
various products of reliance money like IPO, Commodities, Derivatives, Life insurance,
etc. and this report also presents a brief idea about the issue of credit cards.

During my project we also came to know about the customer service which the company
provides to its customers. As far as data collection is concerned we have both primary as
well as secondary data in this report. I have collected primary data by interactive sessions
with the working officials of the company and secondary data are collected which are
more qualitative in nature from the manuals, internet, corporate articles and other
preserved data by the company.

Reliance money is equally aware of the needs of its customers and helps them in giving
meaning and content. This company has steadily progressed over the years from strength
to strength. It provides online share trading facility to the customers. Reliance money is

8
also into life insurance which provides a very good opportunity to the customers by
giving them a life cover and securing the future of their families. As I dealt with both of
these two products of reliance money so I got a good exposure about the general
expectations of a customer and what he usually experienced while dealing into
investment products. To meet these expectations reliance money is into the concept of
franchisees where private franchisees are given to individuals so that the coverage area
of reliance money can be increased and word load on employees can be decreased in
order to increase Relationship Management.

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 Company Profile: Reliance Money Ltd.

Whenever it’s a Question of Your MONEY…

.
.
.
.
.
.
.
.
.
.
.
The Answer is “RELIANCE MONEY”

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Vision
Empowering everyone live, their dreams we will leverage our strength in executing
complex global scale projects to make leading edge in broking services, affordable by all
individual investors in India. We will offer unparalleled value to create investor delight
and enhance business productivity. We will also generate value for our capabilities
beyond Indian borders while enabling millions of Indian‘s knowledge workers to deliver
their services globally.

Mission
Our Mission is to keep the customer satisfaction by Creating unmatched value for
everyone through dependable, effective, transparent and profitable broking services as
focal point of all our operations, adopt the best international practices in customer
service, be the most innovative in product development, establish presence all over India,
ensure sustained value addition to all stake holders and to uphold Corporate Value &
Corporate Governance.

Guiding Principles

 Customer Care and Satisfaction

 Corporate Governance
 Creativity and Innovation
 Competitiveness

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 ABOUT RELIANCE CAPITAL
We all know the effect of the word Reliance on us. A company which has entered almost
every arena of business and created wonders. Every project taken up by the company
turns into a golden project. The company has something, which we can call as, The
Midas Touch. Reliance Capital Ltd is a part of the Reliance - Anil Dhirubhai Ambani
Group. Reliance Capital is one of India‘s leading and fastest growing private sector
financial services companies, and ranks among the top 3 private sector financial services
and banking companies, in terms of net worth. Reliance Capital has interests in asset
management and mutual funds, life and general insurance, private equity and proprietary
investments, stock broking and other activities in financial services. Reliance Capital has
a wide Structure that is as follows:

RELIANC
E
CAPITAL

MUTUAL LIFE GEN. RELIANCE CONSUME

FUND INSURAN INSURAN MONEY R
CE CE FINANCE

SALES
& LEGAL HUMAN MARKETIN PRODUCT
DISTRIBUTI RESOURCE G TEAM
ON

EAST WEST NORTH SOUTH

12
 ABOUT RELIANCE MONEY:

Reliance Money is a part of Reliance Capital that comes under Anil Dhirubhai
Ambani Group (ADAG). It is a distribution and a broking house that provides its
customers with Online as well as Offline Trading Facility. Reliance Money is the
electronic transaction platform associated with Reliance Capital, one of India's leading
and fastest growing private, ranked amongst the top 3 private sector financial services
and banking companies, in terms of net worth.

GROUP Anil Dhirubhai Ambani Group

CO. CHAIRMAN Mr.Anil Ambani

CEO Mr.Sandeep Bandopadhyay

STARTED SINCE Publicly launched On: April 11,

2007
CAPITAL

NO. OF More than 150 Branches

BRANCHES
NO. OF 700
FRANCHISEES
INDUSTRY TYPE Share Broking Firm

PRODUCTS Equity
IPOs
Derivatives
Commodities Trading
Mutual Funds
Insurance
Offshore Investment

Reliance Money offers a comprehensive platform, offering an investment avenue for a

wide range of asset classes. Its endeavor is to change the way India transacts in financial
markets and avails financial services. Reliance Money offers a single window facility,

13
enabling us to access, amongst others Equity, Equity and Commodity Derivatives,
Offshore Investments, IPOs, Mutual Funds, Life Insurance and General Insurance
products. Reliance Money is the most cost-effective, convenient and secures way to
transact in a wide range of financial products and services.

PRODUCT PORTFOLIO OF RELIANCE MONEY:

Initial Public Offering – IPO:

Apply in Initial Public Offers (IPO’s) without

going through the hassles of filling ANY
application form or paperwork.

When an unlisted company makes either a fresh issue of securities ( Through primary
markets ) or an offer for sale of its existing securities or both for the first time to the
public then that is known as an IPO. The first sale of stock by a private company to the
public. IPO‘s are often issued by smaller, younger companies seeking capital to expand,
but can also be done by large privately-owned companies looking to become publicly
traded. In an IPO, the issuer obtains the assistance of an underwriting firm, which helps it
determine what type of security to issue (common or preferred), best offering price and
time to bring it to market. Also referred to as a ―public offering‖.

14
Derivative:

Don’t dread derivatives anymore. Choose

the contract and say go. For the first time
track your positions online, in real time.

In finance, a security whose price is dependent upon or derived from one or more
underlies assets. The derivative itself is merely a contract between two or more parties.
Its value is determined by fluctuations in the underlying asset. The most common
underlying assets include stocks, bonds, commodities, currencies, interest rates and
market indexes. Most derivatives are characterized by high leverage. Futures contracts,
forward contracts, options and swaps are the most common types of derivatives. Because
derivatives are just contracts, just about anything can be used as an underlying asset.
Derivatives are generally used to hedge risk, but can also be used for speculative
purposes. To hedge this risk, the investor could purchase currency futures to lock in a
specified exchange rate for the future stock sale.

Derivatives are divided into basically two parts:

 Futures
 Options

A. Futures: A financial contract obligating the buyer to purchase an asset (or the seller to
sell an asset), such as a physical commodity or a financial instrument, at a
predetermined future date and price. Futures contracts detail the quality and quantity of
the underlying asset; they are standardized to facilitate trading on a futures exchange.

15
B. Options: A financial derivative which represents a contract sold by one party (option
writer) to another party (option holder). The contract offers the buyer the right, but not
the obligation, to buy (call) or sell (put) a security or other financial asset at an agreed-
upon price (the strike price) during a certain period of time or on a specific date (exercise
date).

Options are consist of two things:

i. Call Option
ii. Put Option

a) Call: It is the period of time between the opening and closing of some future markets
wherein the prices are established through an auction process. Call is an option contract
giving the owner the right (but not the obligation) to buy a specified amount of an
underlying security at a specified price within a specified time.

b) Put: Put is an option contract giving the owner the right, but not the obligation, to sell
a specified amount of an underlying asset at a set price within a specified time. The buyer
of a put option estimates that the underlying asset will drop below the exercise price
before the expiration date.

16
Insurance:

Take advantage of investing in Insurance

products without going into the hassles of
doing any paperwork. Click here to get
started

There are good times and bad times during every stage of our lives, and being financially
prepared to face all kinds of situations makes the journey of life a lot easier and certainly
more. The Financial Product that helps in this is Insurance. Insurance is a
contract (policy) in which an individual or entity receives financial protection or
reimbursement against losses from an insurance company. The company pools clients‘
risks to make payments more affordable for the insured.

Insurance is of two types:

 Life Insurance
 General Insurance

A. Life Insurance: This is the protection against the loss of income that would result if
the insured passed away. The named beneficiary receives the proceeds and is thereby
safeguarded from the financial impact of the death of the insured. The goal of life
insurance is to provide a measure of financial security for your family after you die.
Life insurance products offer comprehensive financial. Solutions which besides
offering financial security also provide opportunity for saving, investment & tax
planning.

17
 Life Insurance Products Offered by Reliance Money :

Individual Plans Employee Benefit Plans

1. Savings (Endowment) 1. Risk (Protection)
Reliance Endowment Plan Reliance Group Term Assurance Policy
Reliance Special Endowment Plan Reliance EDLI Scheme
Reliance Cash Flow Plan 2. Pensions
Reliance Child Plan Reliance Group Gratuity Policy
Reliance Whole Life Plan Reliance Group Superannuation Policy
Reliance Connect 2 Life Plan
2. Retirement
Reliance Golden Years Plan
Reliance Golden Years Plan Value
Reliance Golden Years Plan Plus
3. Unit Linked
Reliance Automatic Investment Plan
Reliance Money Guarantee Plan
Reliance Market Return Plan
4. Risk / Protection
Reliance Term Plan
Reliance Simple Term Plan
Reliance Special Term Plan
Reliance Credit Guardian Plan
Reliance Special Credit Guardian Plan

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The two main Individual plans are:

1. Reliance Automatic investment Plan:

Key Features:

 Two plan options to choose from Ready-made and Tailor-made

 Life Stage asset allocation to ensure automatic change in investment patterns,
under the Ready-made Plan option
 Freedom to decide your own fund mix based on your risk profile under the Tailor-
made Plan
 Regular, limited, single premium paying options
 Unmatched flexibility through our ‗Exchange Option‘
 Liquidity in the form of partial withdrawal
 Option to avail of Accidental Death Benefit, Accidental Total, Premium
Disability and Term Insurance riders

The Key benefits

 A smart plan which adapts to your changing risk profile with increasing age
 Option to lower the average cost of units through systematic transfer of your
funds
 Flexibility to switch between funds and plans
 Options for additional Insurance cover available through riders

How does this Plan work?

As a customer you will have the liberty to choose between the Ready-made and Tailor-
made Plan options. The premium contributions made by you, net of Premium Allocation
Charges and Sum Assured Related Charges are invested in fund/funds of your choice and

19
units are allocated depending on the price of units for the fund/funds. The Fund Value is
the total value of units that you hold in the fund/ funds. The Mortality Charges and Policy
Administration Charges are deducted through cancellation of units, whereas the Fund
Management Charge is priced in the Unit Value.

Reliance Automatic Investment Plan at a glance

Basic Minimum Maximum

Plan
Age at 30 days 65 years last birthday
Entry
Age at 18 years last birthday 80 years last birthday
Maturity
Premium 5 years 30 years
Paying
Term
Min Regular / Limited Premium: Annualized Premium for 5 years or
Sum Annualized Premium for half of the policy term, whichever higher
Assured
Single Premium 125% of the single premium amount

Max No Limit
Sum
Assured

2. Money Guarantee Plan

Key Features

 Capital Guarantee: The sum of all premiums paid is guaranteed on maturity or on

death before the maturity.
 Capital Guarantee is available on both the basic premiums as well as on top-up
premiums
 Unique Return Shield feature to protect your returns
 Choice to invest from 3 pre-packaged investment fund options

20
  Unmatched flexibility through our ‗Exchange Option‘ to move between the
Reliance Money Guarantee suite of products offered, as you grow up the ladder
 Liquidity in the form of partial withdrawals from top-up fund
 Option to package with Accidental Death & Disability and Term Insurance riders

How does this Plan work?

The premium contributed by you net of Premium Allocation Charges and

Miscellaneous Charge is invested in fund option of your choice for a specified period of
time as selected by you and units are allocated depending on the price of units for the
fund/funds. The Fund Value is the total value of units that you hold in the fund. The
Policy has a minimum Guaranteed Fund Value which is equal to total of all premiums
paid (excluding any additional and extra premiums if any), to be payable on survival to
maturity or earlier death. The amount of top-up premiums paid is also guaranteed on
death provided there is no partial withdrawal. The amount of top-ups premium is
guaranteed on maturity provided the top-ups premium was paid at least 10 years before
the date of maturity and there is no partial withdrawal. The Sum Assured under the
Policy is fixed on the basis of the selected annual premium and Policy Term.

The Mortality Charges and Policy Administration Charges are deducted through
cancellation of units whereas the Fund Management Charge is priced in the Unit Value.
The premiums for riders, if selected, are payable over and above the premium for the
basic Policy.

The two main Employee Benefit Plans are:

a) Reliance Group Term Assurance Policy: Reliance Group Term Assurance Policy is
a one year Renewable Term Assurance contract. The benefit is payable on the
happening of the contingency during one year. At the end of the year, the contract

21
 may be renewed. Employers looking for a comprehensive professionally administered
term assurance cover for their employees. Subject to approval by the Provident Fund
Commissioner, this Policy can be used as a replacement for the Employees Deposit
Linked Insurance Scheme under the Provident Fund Act.

b) Reliance Group Gratuity Plan. This is a unit linked group Gratuity product with
three different fund options, namely Capital Secure, Growth and Balanced Funds. It
enables employers / trustees with more than 20 employees to outsource the management
of their employees‘ Gratuity funds and the related administration to Reliance Life
Insurance Company Limited.

B) General Insurance:
General Insurance is a form of risk management, primarily used to hedge against the risk of a
contingent loss of many articles and nominal things. This is a single policy that may cover
risks in one or more of the categories set forth below. For example, auto insurance would
typically cover both property risk (covering the risk of theft or damage to the car) and
liability risk (covering legal claims from causing an accident).G.I. may be done for follows:

 Automobile Insurance
 Aviation Insurance
 Equipment Breakdown insurance
 Business insurance
 Crop Insurance
 Crime Insurance Credit Insurance etc.

22
Products Offered by Reliance General Insurance:

Health
 Individual Mediclaim
 Group Mediclaim
 The policy covers

Reliance Health Wise Policy

Seeing your family in the pink of health ranks highest in priority for you. Yet, despite
your best efforts, illnesses do occur. With the spiraling cost of health care, these
unforeseen circumstances can take a toll on your savings. To ensure that you don‘t
need to spend your hard earned money on treatment of any such illness; we have a
Policy that offers you all the financial support that you need.

Personal Accident

Personal Accident

The policy provides for payment of compensation in the event of accidents leading to
death or disablement of the insured person. The disablement may be of permanent
total or permanent partial or temporarily total in nature. This policy can be issued to
persons in the age group of 5 years to 70 years and can be extended to cover persons
beyond the age of 70 years and upto 80 years on payment of suitable additional
premium. The cover provided is worldwide.

23
Policy also provides for reimbursement of expenses incurred for carriage of dead
body and education grant for children (upto a maximum of two children) of the
primary insured person, subject to terms and limits.

This policy can be extended to cover actual medical expenses arising out of the
accident upto an amount not exceeding 40% of the compensation paid in settlement
of a valid claim under this Policy or 20% of the relevant Capital Sum Insured
whichever is less, on payment of 20% of extra premium.

Group Personal Accident

The policy is applicable to

a. Employees of a Firm/Company ( i.e with employer-employee relationship).

b. Members of an institution/society/association/club ( i.e with no employer-
employee relationship). Policies can be issued on named or unnamed basis.

The policy covers -

Physical loss to an insured person due to an accidental injury anywhere in the world
and pays for death or disablement .

a. Death 100 % of Sum Insured

b. Permanent Total Disablement 100 % of Sum Insured
c. Loss of two limbs/Two eyes or one limb and one eye 100 % of Sum Insured
d. Loss of one limb or one eye 50 % of Sum Insured
e. Permanent Partial Disablement Varies from 1% to 75% of Sum Insured
depending on the disablement
Temporary Total Disablement 1 % of Sum Insured per week subject to a maximum of
Rs 5000 per week for a maximum period of 100 weeks

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Fire
 Standard Fire and Special Perils
 Consequential Loss (Fire)
 Industrial All Risks
Engineering
 Erection All Risks/Storage-cum-Erection
 Contractor‘s All Risks
 Contractor‘s Plant and Machinery
 Machinery Breakdown Insurance
 Machinery Loss of Profits Insurance
 Boiler and Pressure Plant Insurance
 Electronic Equipment Insurance

Marine
 Marine Cargo Insurance

Motor
 Private Car Comprehensive

Liability
 Directors and Officers Liability
 Public Liability (Act)
 Public Liability
 Product Liability
 Professional Indemnity
 Workmen‘s compensation

25
Travel
 Individual and Family
 Asia
 Student
 Corporate

Miscellaneous
 Industry Care
 Commercial Care
 Office Package
 Fidelity Guarantee
 Burglary and Housebreaking
 Money Insurance
 Householder‘s Package

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Equity

Trading made simple. Use our world-class

platform and research to invest online.
Leverage up to 5 times of the available
funds for intra day

Equity is Stock or any other security representing an ownership interest.

Equity is a term whose meaning depends very much on the context. In general, you can
think of equity as ownership in any asset after all debts associated with that asset are

paid off. An Investor can invest his money in Equity in two ways i.e. Online or Offline
and for both, he needs a D-Mat A/C.

Mutual Fund:

An investment vehicle which is comprised of a pool of funds collected from many

investors for the purpose of investing in securities such as stocks, bonds, money market
securities and similar assets. Mutual funds are operated by money mangers, who invest
the fund‘s capital and attempt to produce capital gains and income for the fund‘s
investors. A mutual fund‘s portfolio is structured and maintained to match the investment
objectives stated in its prospectus.

27
Reliance Mutual Funds:

Investing is just a click away, No more

paper work. Invest and track the
performance of the schemes you have
invested online

Reliance Mutual Fund, a part of the Reliance - Anil Dhirubhai Ambani Group (R-ADAG)
is one of the fastest growing mutual funds in the country. Reliance Mutual Fund offers
investors a well-rounded portfolio of products to meet varying investor requirements.
Reliance Mutual Fund has a presence in over 80 cities across India, an investor base of
over 2 million and manages assets over Rs. 26,314 crore as on June 30, 2006.

Reliance Mutual Fund constantly endeavors to launch innovative products and customer
service initiatives to increase value to investors. Reliance Mutual Fund schemes are
managed by Reliance Capital Asset Management Ltd., a wholly-owned subsidiary of
Reliance Capital Ltd.

Reliance Vision Fund:

It was launched in October 1995. The fund invests in large cap, highly liquid stocks with
good fundamentals and long-term prospects. Long-term investors, looking at bringing
stability in their portfolio should invest in Reliance Vision Fund.

Investment Objective of Reliance Vision Fund: The primary investment objective of

the Scheme is to achieve long-term growth of capital by investment in equity and equity-
related securities through a research-based investment approach.

28
Choice of Plans:

A. Growth Plan: The Growth Plan is designed for investors interested in capital
appreciation on their investment and not in regular income. Accordingly, the
scheme will not declare dividends under the Growth Plan. The income earned on
the Growth Plan‘s corpus will remain invested in the Growth Plan.

The Growth Plan has two options :

 Growth Option : Under this Option, there will be no distribution of income
and the returns to the investor is only by way of capital gains/appreciation, if
any, through redemption at applicable NAV of the units held by them.
 Bonus Option: The Growth Plan has a Bonus Option.

B. Dividend Plan: The Dividend Plan has been designed for investors who require
regular income in the form of dividends. Under the Dividend Plan, the Scheme
will Endeavour to make regular dividend payments to the unit holders. Dividend
will be distributed from the available distributable surplus after the deduction of
TDS and applicable surcharge, if any.

Dividend Plan has two options :

 Dividend Payout Option: Under this option the Dividend declared under the
dividend plan will be paid to the unit holders within 30 days from the
declaration of the dividend.
 Dividend Re-investment Option: The Dividend Plan has a Reinvestment
Option whereby the dividend distributed under the plan will be automatically
reinvested at the ex-dividend NAV on the transaction day following the date
of declaration of dividend and additional units will be allotted accordingly.

29
B. Systematic Investment Plan: Customer can invest on a Monthly or Quarterly basis,
a minimum sum of Rs. 500/- or Rs. 1500/- respectively and in multiples of Re.1/-
thereafter.

D. Systematic Withdrawal Plan: You can withdraw from your investments on a

Monthly or Quarterly basis, a minimum sum of Rs. 500/- and in multiples of Rs.100/-
thereafter.

Schemes Offered by Reliance Money:

1. Equity/Growth Schemes:-The aim of growth funds is to provide capital

appreciation over the medium to long- term.
These Schemes are:
 Reliance Equity Fund
 Reliance Growth Fund
 Reliance Vision Fund
 Reliance Tax Saver (ELSS)Fund
 Reliance Equity Opportunities Fund
 Reliance Long Term Equity Fund etc.

2. Debt/Income Schemes: - The aim of income funds is to provide regular

and steady income to investors.
These schemes are:
 Reliance Interval Fund
 Reliance Income Fund
 Reliance Liquid Fund
 Reliance Liquid Plus Fund

30
  Reliance Fixed Horizon Fund III
 Reliance Monthly Income Plan
 Reliance Short Term Fund
 Reliance Fixed Maturity Fund Series-I
 Reliance Fixed Maturity Fund Series-II etc.

3. Sector Specific Schemes:- These are the funds/schemes which invest in

the securities of only those sectors or industries as specified in the offer
documents. E.g. Pharmaceuticals, Software, Fast Moving Consumer
Goods (FMCG), Petroleum stocks, etc.
These schemes are:
 Reliance Banking Fund
 Reliance Pharma Fund
 Reliance Diversified Power Sector Fund
 Reliance Media & Entertainment Fund

31
Commodities
In a market that's growing at 400% per
annum.
We offer

 Lowest cost of trading

 Trade till 11:30 in the night

A commodity is something that is relatively easily traded, that can be physically

delivered, and that can be stored for a reasonable period of time. It is a characteristic of
commodities that prices are determined on the basis of an active market, rather than by
the supplier (or other seller) on a ―cost-plus‖ basis. Examples of commodities include not
only minerals and agricultural products such as iron ore, crude oil, ethanol, sugar, coffee,
aluminum, rice, wheat, gold, diamonds, or silver, but also so-called ―commoditized‖
products such as personal computers. In the original and simplified sense, commodities
were things of value, of uniform quality, that were produced in large quantities by many
different producers; the items from each different producer are considered equivalent. It
is the contract and this underlying standard that define the commodity, not any quality
inherent in the product.

Commodities exchanges include:

 Chicago Board of Trade

 Euronext.liffe
 London Metal Exchange
 New York Mercantile Exchange.
 Multi Commodity Exchange

32
 Offshore Investment

Offshore investment is the keeping of money in a jurisdiction other than one‘s country
of residence. Offshore jurisdictions are a commonly accepted solution to reducing
excessive tax burdens levied in most countries to both large and small scale investors
alike. Selected offshore domiciles are superficially viewed by some as havens used by to
conceal or protect illegally acquired money from law enforcement in the investor‘s
country. Although this may be the case, legitimate investors also take advantage of higher
rates of return or lower rates of tax on that return offered by operating via such domiciles.
The advantage to this is that such operations are both legal and less costly than the
solutions offered in the investor‘s country - or ―onshore‖. Locations favored by investors
for low rates of tax are known as offshore financial centers.

Scheme Offered By Reliance Money: Reliance Money, the financial services arm
of the Anil Dhirubhai Ambani Group, is partnering with UK-based CMC Markets, a
global player in the online derivatives trading segment, to bring overseas investment
products to Indian investors. This tie-up will enable customers‘ of Reliance Money to
gain access to several offshore products including —foreign equities, currency and
commodities within the RBI-mandated limits. The central bank currently permits a single
Indian resident to invest up to $50,000 (Rs. 22.5 lakh) overseas per year, which has been
raised from the earlier $25,000.

For instance, an investor with Reliance Money can buy Corus shares through an account
created for him or her by CMC. The shares will then be credited to the account. If the
investor wants to sell, he follows the same procedure, places an order and the shares in
the account are offloaded in the market.

33
Credit Cards offered by Reliance Money:

Reliance-Anil Dhirubhai Ambani group has joined hands with Citi bank to launch
reliance credit card. In addition to usual benefits available with regular credit
cards,reliance credit cards come free for life, and provide a host of benefits and reward
points as part of a unique loyalty program. Reliance credit cards also offer complimentary
vouchers for usage at Reliance World Outlets and Adlabs Multiplexes, Cash Advance
Facility, Free Utility Bill Payment Facilities, Hospital Allowance, Free towing of
Vehicles, and Zero Fuel Surcharge at IOC Petrol Pumps. Reliance Credit Cards are
available in two categories - Silver and Gold.

Highlights:

 Free for Life Card.

 Limit:- Silver Credit Card – up to Rs.30,000 &Gold Credit Card –
(>)Rs.3,00,000.
 Get 0% Fuel Surcharge at IOC Outlets.
 Get complimentary joining vouchers of Reliance World outlets (For Broad Band
Surfing and Online Trading) and Adlabs (For Food) worth Rs.100 each with the
Reliance Silver Card and worth Rs.200 each with the Reliance Gold Card.
 Reliance Money provides free Gift Vouchers to its Credit Card Holder i.e. Gift
Voucher of Rs.400 with Gold Credit Cards and Gift Voucher of Rs.200 with
Silver Credit Cards.
 Get an allowance of Rs.500 per day, on hospitalization with the Reliance Gold
Card.

34
 Pay bills of Reliance ADA group companies-Reliance Post Paid Bills, Reliance
Energy Electricity Bills, Insurance Premier, Recharge of Mobile Pre-paid Cards
and also for other utility companies on an on going basis by signing up once.
 Customer can opt for free Photo Credit Card for added Security.
 Reliance Credit Card holders can receive up to 5 add-on cards at no additional
charges, free email statements, free alerts, and will be able to transfer money from
one Visa Card to another using Citibank Online.
 Reliance Money Provides with Zero Loss card Liability i.e. Customer just need to
give a call at the helpline no. and thus he gets a reference no. After that he does
not have the liability for increasing credit limit in his card.
 Customer need to have another credit card (except that of Citi bank), before
having Credit Cards provided by Reliance Money.

35
Division of Reliance Money:

 Reliance Securities Limited

 Reliance Commodities Limited and
 Reliance Financial Services Limited.

Division of Reliance Money

Reliance Securities Reliance Commodities Reliance Financial Services

Providing investors the Commodity related trading, Registered NBFC under Reliance
Facility of anytime anywhere online Distribution, warehouse receipt Money which will be in the
Trading in all major asset classes Financing will be provided Distribution and funding
Business

36
 INTRODUCTION

Share Market…. Overview:

Share Market Overview would give an overall idea about the share market, its
participants, types; etc.Share market is the market for securities where organized issuance
and trading of shares takes place. It plays an important role in canalizing capital from the
investors to the business houses which consequently leads to the availability of funds for
business expansion. Shares are certificates which represent ownership rights of the holder
in a company.

Basically, Share Market can be divided into two parts:-

1. Primary Market: It is the market where new issues of securities are offered to the
investors.

2. Secondary Market: An investor of a secondary market buys a security from another

participant of the same and not from any issuing corporation (as in case of Primary
Market).

Generally, stocks are of two types:-

a) Common Stock:
It gives an ownership right to the holders of the stock. The holders are entitled to receive
dividends whenever the company announces.

b) Preferred Stock:
These stocks also give ownership right to its holders. Its holders enjoy the privilege of
receiving dividends from the company in preference to any other common share holders.

37
Trading:
Share market is the market for securities where organized issuance and trading of shares
takes place. Shares are certificates which represent ownership rights of the holder in a
company. It plays an important role in channelising capital from the investors to the
business houses which consequently lead to the availability of funds for business
expansion.

Shares in the Share Market are traded through:-

(a) Stock Exchange: These are organized market places where stocks, bonds are other
equivalents are traded between the buyers and sellers where exchange acts as counter-
party to both the participants in case of any default.

(b) Over-the -Counter (OTC): These are not centralized exchanges and the trade takes
place through a network of dealers.

There are mainly two types of trading:-

1. Intra day trading: In this type of trading an investor buy and sell stocks during the
same day. Intra day Traders are of two types :-

i. Scalp Traders: Investors who perform many trades per day for scalping out small
profits out of the bid-ask spread, from each trade are known as scalp traders.
ii. Momentum Traders: Investors who pounce on those stocks which move
significantly in one direction and book desired profit are called momentum
traders. They do this within a day.

38
2. Delivery trading: In this type of trading an investor buys the share for holding
purposes. Delivery Traders are :-

i. Technical Traders: They believe that buying/selling signals are present within
the graphs and charts of the stock.

ii. Fundamental Traders: They perform trade on the basis of study of fact-sheets
of the company like historical profit graph, balance sheet, anticipated earning
reports, stock splits, mergers and acquisitions, etc.

iii. Swing Traders: They are basically fundamental traders who take delivery of
trades for a span of short period generally more than one day.

Share Broking Company offers two types of share trading facilities:-

(a) Offline Share Trading: In this form of trading the customer has to place order to the
dealer of the stock broking firm either in person or over phone. Offline trading is the
main form of investing the money in securities. Offline trading offers many benefits as
well.

1. The one benefit that an investor appreciates the most is that they are not alone
when making investment decisions.

2.There are experienced and professional brokerage companies that handle their
investments for them.

3. Investors are not faced with the challenge of making these vital investment
decisions; especially, if they do not have the experience necessary to make the
appropriate investments.

4. Also, there is someone there to answer any questions that may cause concerns.

39
(b) Online Share Trading: The client could place his order on his own from any place
he wants, provided he has a computer with an Internet connection. Online Trading has
made it easy for private investors to gain straight access to a range of different security
markets that were, at one point, only reserved by the use of investment professionals.
Online trading has dramatically changed over the last decade. It continues to be
redefined. Services have expanded to include integrated management of additional
financial accounts. It has subsequently expanded in conjunction with ground-breaking
improvements to the traditional trading interface, such as telephone interface systems.
There are several wonderful reasons to invest online rather than offline trading.

1. Instant online access: - You can gain instant access to your account, the value
of your portfolio updates immediately before your eyes.

2. Enter online trades at anytime during Market hours: - You can enter online
trades at anytime and from anywhere. This is very convenient if you live in a
different time zone than the country you are trading in. It especially fits for
investors with busy schedules.

3. With online trading you are in charge: - You are in control of your
investments. No sales pitches and no hassle. You decide where to invest your
money.

Thus, online stock trading is the easy way to buy and sell shares from the comfort of
your home.Finding a company that provides us with a secure trading account can be
difficult. There are many companies that offers us excellent services for trading, but we
need to find which will meet our needs and requirements .Instead of going with a
company based on their reputation we should see what they can offer us because our
needs as a trader will be radically different from someone traders who have different
levels of experience and who have different proclivities toward risk and security. Its not
that we always want to look towards the most economical rate of trading but rather work
with a reputed organization like ―RELIANCE MONEY”.

40
DEPOSITORY:

A depository is an organisation which holds securities of investors in electronic form at

the request of the investors through a registered Depository Participant. It also provides
services related to transactions in securities.

In the Depository System, the securities of a shareholder are held in the electronic form
by conversion of physical securities to electronic form through a process called
'dematerialization' (demat) of share certificates and facilitates transactions electronically
without involving any share certificate or transfer deed.

Depository system is playing a significant role in stock markets around the world and
hence has become popular and prevalent in many advanced countries. In India the
National Securities Depository Ltd. (NSDL), promoted by Industrial Development Bank
of India, Unit Trust of India, and National Stock Exchange is the first depository. A
second Depository by name Central Depository Services (India) Ltd, promoted by The
Stock Exchange, Mumbai and Bank of India has been registered recently and will
commence its operations shortly. Investors have choice of two depositories now

 National Securities Depository Limited (NSDL) and

 Central Depository Services (I) Limited (CDSL) Constituents of
Depository system:-

 Depository
 Depository Participants (DPs)
 Share Registrar/Issuers
 Investor
 Clearing Corporation/Member

41
Role of Depository:-

The Depository performs its functions through a network of Depository Participants

(DPs) who interact with the Clearing Members and Investor. The Depository carries out
following functions through its participants:-

 Enabling the surrender and withdrawal of securities through the process of demat
and remat to and from the depository system,
 Maintaining investors' holdings in the electronic form through computers,
 Effecting settlement of securities traded on the stock exchanges.
 Carrying out settlement of "off market trades" (i.e. trades not done on the stock
exchanges)
 Advising periodically to the Share Registrar / Issuer about the beneficial owners
of the securities.

DEPOSITORY PARTICIPANTS

CDSL/NSDL's demat services are extended through its agents called Depository
Participants (DP). The DP is the link between the investor and CDSL/NSDL. An
investor who opens a demat account with a DP can utilize the services offered by
CDSL/NSDL. While the DP processes the instructions of the investor, the account and
records thereof is maintained with CDSL/NSDL. A DP is thus a "service centre" for the
investor.

42
Role of Depository participants:

Similar to brokers, who act on behalf of a client in the stock market, a Depository
Participant is also a representative in the depository system. Financial Institutions / Banks
/ Custodian / Stock Brokers etc. can become DPs provided they meet the necessary
requirements and guidelines prescribed by SEBI. DP serves as a link between the investor
and the Company through NSDL for dematerialization of shares and other electronic
transactions. DP provides various services with regard to your holdings such as….

 Maintaining the securities account balances

 Enabling surrender (dematerialization) and withdrawal (rematerialisation) of
securities to and from the depository.
 Delivering and receiving shares.
 Keeping updated with regard to status of holdings periodically.

DP SERVICES:-

Depository Participant provides the following services:

Account Opening:
To utilize the services offered by a depository, any person having investment in any
security or intending to invest in securities needs to have a demat account with a CDSL-
DP. This holder of such demat account is called as "Beneficial Owner (BO)". A BO can
maintain a demat account with zero balance in such account. A BO can open more than
one account with the same or multiple DPs, in the same name/s and order, if
he/shedesires so. The investor can approach any DP/s of his/her choice to open a demat
account.

43
Dematerialization:
Dematerialization is a process by which physical certificates (of shares / debentures /
other securities) are converted into electronic balances. A BO has to submit the request
for dematerialization by submitting the demat request form (DRF) duly completed along
with the concerned physical certificates, to his/her DP.

Processing Delivery & Receipt Instructions:

To settle trades done on a stock exchange (on-market trades) and trades, which are
directly settled between two BOs (off-market trades), BOs submit duly completed
delivery instructions in the prescribed form to DP. For receipt of securities into his/her
account, a BO can give one time "standing instruction" to DP. Once such a standing
instruction is given to the DP, there is no need to submit separate instructions for receipt
every time the investor buys securities.

Account Statement:
Generally a DP sends to the BO, a statement of his account, monthly, if there is any
transaction in the account or every quarter if the account is not operated during that
period.

Rematerialisation:
Rematerialisation is the process by which the electronic balances held in the demat
account can be converted back into physical certificates

Pledging:
If the BO decides to pledge any securities in his BO account, he can avail of the same by
submitting the pledge creation form duly completed, to his DP.

Nomination:
BO accounts also have a facility for nomination in favor of any person.

44
Transmission of securities:
CDSL offers a facility for transmission of balances held in BO account/s (to other BO
Account/s) if so required due to death, lunacy, bankruptcy, insolvency or required due to
operation of any law.

Change in Address:
A BO who wishes to register his change in address submits his/her request in writing to
his/her DP. The changes entered by the DP in the CDSL system will be automatically
downloaded to all the companies in which the BO is holding securities. This facility
offered by CDSL saves money, time and effort for the BO.

Bank Account Details:

SEBI has made it mandatory for companies to print details of bank account of the BO on
dividend/interest warrants etc. to prevent possibilities of misuse of the warrants. All BOs
should submit a request in writing to the DP if they wish to record / change their bank
account details.

Every investor who wants to hold shares in Demat form must open account with a DP of
his/her choice. The DP provides all the services relating to transmission of shares and for
this service DP levy some charges which is to be paid by the account holder, and charges
for annual maintenance which is to be paid by account holder, in turn the DP provide
clients with passbook and delivery instruction slips to operate from his Demat a/c .

Dematerialization or demat is a process to convert the securities held in physical form

into an electronic form or to directly allot securities in electronic record form. These
electronic records of securities are shown as ―electronic balances‖ in the demat account
through a depository participant (DP). DP provides a link between the account holder
(beneficiary owner or BO) and the company on one hand and National Securities
Depository Limited (NSDL) or Central Depository Services Limited (CDSL) on the other
hand.

45
D-MAT Account Opening:

A demat account are opened on the same lines as that of a Bank Account. Prescribed
Account opening forms are available with the DP, needs to be filled in. Standard
Agreements are to be signed by the Client and the DP, which details the rights and
obligations of both parties. Along with the form the client, requires to attach Photographs
of Account holder, attested copies of proof of residence and proof of identity needs to be
submitted along with the account opening form.

In case of corporate clients, additional attachments required are - true copy of the
resolution for Demat a/c opening along with signatories to operate the account and true
copy of the Memorandum and Articles of Association is to be attached

Reliance Money is a Participant of Central Depository Services Limited (CDSL).

CDSL was promoted by Bombay Stock Exchange Limited (BSE) jointly with leading
banks such as State Bank of India, Bank of India, Bank of Baroda, HDFC Bank, Standard
Chartered Bank, and Union Bank of India and Centurion Bank. CDSL was set up with
the objective of providing convenient, dependable and secure depository services at
affordable cost to all market participants. D-Mat account opening process of Reliance
Money is as follows….

46
D-Mat A/C Provided By Reliance Money:

Reliance Money provide its customers with the D-Mat A/C, through which they can
invest their money in any Financial Instrument like Equity, Derivatives, IPOs, Life
Insurance , General Insurance etc. Reliance Money handles all the key financial
transactions through this Single Window. D-Mat A/C is an account in which securities
are kept in Electronic form.

Scheme:

1. Cost of Having D-Mat A/C :

 Opening Charges: With reliance money the A/C opening charges are
Rs.750. These charges are for life time.
 Annual Maintenance Charges: With Reliance Money the A.M.C. is just
Rs.200 that is lowest in The Share Broking Industry.
 No brokerage and Service Charge: Reliance Money is the first and
foremost company that charges Brokerage and Service charge 0.01 paisa
on the Sale and Purchase of Security, otherwise the Industry wide
Brokerage rate lies between 0.10 to 0.75 paisa on Delivery based Trading
and 0.01 to 0.50 paisa on Intraday Trading.
2. Flat Fee Structure :

 The current leaders in the retail broking segment like ICICI Direct, India
Info line and India bulls offer a ‗pay per use‘ model where the customer
pays a percentage of the amount transacted by him. Whereas Reliance
Money, aims to tap investors in the smaller towns and cities through a
flat fee structure instead of percentage or per transaction brokerage
system.

47
 FLAT TIMEVALIDITY TURNOVER TRADING LIMIT
FEE VALIDITY
Rs.500 12 Months Rs.3,00,000 Delivery: up to 3
lacs
or
Intraday: up to 3
lacs
 Flat Fee is charged based on the Turnover of an Investor. This model is
as follows:

Flat Fee Scheme

FLAT FEE TIME VALIDITY TURNOVER VALIDITY TRADING LIMIT

Rs.1000 2 Months Rs.1,00,00,000 Delivery: 10 lacs
Intraday: 90 lacs
Rs.1350 6 Months Rs.3,00,00,000 Delivery: 30 laces
Intraday: 2.7 Crore
Rs.2500 12 Months Rs.6,00,00,000 Delivery: 60 lacs
Intraday: 5.4 Crore

Special Scheme for Small Investors

FLAT FEE TIME VALIDITY TURNOVER VALIDITY TRADING LIMIT

Rs.500 1 year Rs.5,00,000 BOTH

Margin on Trading Amount:

DELIVERY BASED TRADING INTRADAY TRADING

NIL 5 TIMES

3. 3 -Tier Service :

 Reliance Money provides its customers with a three tier service i.e.
interlinked D-Mat A/C, Trading A/C and Savings Bank A/C. This makes
the customer free to trade online and makes the trading more hassle free.

48
  Reliance Money has its tie up with three banks i.e. HDFC, IDBI and UTI
Bank and customer need to have his Savings Bank Account with any of
these Banks for enjoying this three tier service.

4. Convenient :Customer can access the services of Reliance Money through:

 The Internet-mail at www.reliancemoney.com

 The Transaction Kiosk
 The Phone (Call & Transact)-call on 3988 6000 or SMS ‗Money‘ to
6636.

 The All India Network of Associates on an assisted trade (through the

Call Centre or the network of associates) a charge of Rs.12 per executed
trade will be applicable.

5. Safe: For Security Purpose, Reliance Money provides:

 User ID
 Password

49
  Security Token Key that has a unique, six digit no. This no. changes
every 32 seconds and works as a dynamic password for keeping the

account extra safe.

6. Single Window access: Through Reliance Money‘s associates customer can

transact in :

 Equity
 Equity and Commodity Derivatives
 Mutual Funds
 IPO‘s
 Life Insurance
 General Insurance
 Money Transfer
 Money Changing
 Credit Cards amongst others.

7. Free Tips: Customer gets free tips, current market information and reports on their:

 Mobiles
 E-Mail IDs

50
8. Value Added Services: Customers can get some value added services on
www.reliancemoney.com

 Reliable Research, including views of external experts with an enviable

track record.
 Live News Updates from Reuters and Dow Jones.
 CEOs/Expert views on the Economy and Financial Market.
 Tools that help customers to plan their investments, tax, retirement etc. in
the personal finance section.
 Risk Analyzer for analysis of Risk Profile.
 Asset Allocations to build an appropriate investment portfolio.

Documents:

For opening a D-Mat A/C with Reliance Money, following documents are needed:

 Photocopy of PAN Card (both-front and back side)

 An address proof: (any one of them)
 Passport
 Voter ID Card
 Driving License
 Bank Statement
 Rent Agreement
 Telephone Bill (MTNL or BSNL)

51
  3 Coloured Passport size photographs of the First Holder of Account, 1
Photograph of Second Holder (if any) and 1 photograph of Third Holder
(if any).
 A Cheque (S/B) worth Rs.750 + (500, 1350, 2500).

Operations

The various operations provided by Reliance money is as follows……

1) Internet trading
2) Client Account Opening
3) Clearing And Settlement
4) Capital gain on securities transaction
5) LevIies on securities transaction
6) Trading policy for employees

INTERNET TRADING:

 Client order is routed to exchange through broker‘s trading system.

 Client has real time market information.
 Client can monitor his position and can see profit and loss on line.
 Client has to have internet access to trade through our internet trading platform.
 Client can maintain secrecy of his transactions and portfolio.
 Client can access the trading system and put trade anywhere and anytime.

52
  Funds and securities are transferred online from client account to broker account
and vice versa hence avoid manual work of cheque and DP slip.

CLIENT ACCOUNT OPENING:

 Prospective client has to have three account-

o Trading account
o DP account and
o Bank account with payment gateway bank
 DP account has to be with Reliance Capital
 Reliance Money has tie up with 3 banks….. HDFC,UTI and IDBI
 Separate KYC for Equity,Fx and commodities
 Receipt of KYC by branch from DSA/Sales Executives
 Checking of KYC
 Cheque deposit in our designed bank
 Dispatch of KYC to CBO on daily basis through DTDC courier only
 CBO process the client information, generate customer ID, trading account, DP
account and password.

Who can open a trading account?

 Individual
 HUF
 NRI
 Corporate
 Proprietorship-Only Trading Account

53
Clearing and Settlement

 Clearing: A process to find out how much and who has brought or sold
securities through our broking platform
 How much money is to be paid or is to be received to/from clients and
exchange
 How much securities is to be delivered or to be received to/from clients and
exchange
 Settlement is pay of funds and securities from the clients and then to the
exchange
 Pay out of funds and securities from the exchange and to clients.

Capital Gain

 Capital gain/loss is the difference between sale proceeds and cost of acquisition of
asset.
 On sale of securities investor has to pay either short term or long term capital gain
tax if he earns profit.
 Long term capital loss can be set off against long term capital gain only

Short Term Capital Gain

 Short term capital Gain. When securities are hold for less than one year and sold
 Tax is paid @10% on the short term capital gain from sale of securities.

54
  Securities should be old through recognized stock exchange and subject to
securities transaction tax
 Short term capital loss can be sent off against short term capital gain

Long Term Capital Gain

 When securities are sold after holding for more than one year
 If shares are sold through recognized SE and STT is payable then no tax is
payable on long term capital gain otherwise IT @ 20% has to be paid.

Levies on securities transaction

 Service tax: 12% of brokerage

 Education cess:2% of service tax
 STT : 125% of delivery value
0.025% of trading one side (sale)
0.017% of trade for F& O (sale)
 Stamp duty : 0.01% on delivery transaction
0.002% on trading F & O

Employees Trade Policy:

55
 Objective: Inside information , diversion
 Applicability: Employee and dependent.
 Exempted transaction: IPO, MF, Bonds, and PF.
 Approval: HOD, Compliance officer.
 Securities holding period: 3 days and 30 days.
 Restricted transaction: Group Company.
 Disclosure: Joining time and every year 31st march.

ACCOUNT OPENING PROCESS

The account opening process followed at Reliance Money is as follows……

 Accept application forms

 Process-
 Document checking
 Verification
 Rectification of errors
 Processing completed
 Sent to the processing house located at Mumbai
 Account opening at CBO(Central Back Office)

After the forms being sent to Mumbai the following process is adopted…..

56
Application inward:
There are two persons who collect these forms and then forward these forms for their
entries.

Entry:
There are persons who maintain an excel sheet for the entries of the forms in the
format which includes the various details as- application number, branches ,region
,zone, client name ,cheque number etc which is then forwarded to all branches .

Scrutiny:
After doing entries in the excel sheet the forms are being sent for scrutiny. There is a
team of 10 -15 people who are responsible for scrutinization.
The scrutinization includes-

 Whether the forms are properly filled or not.

 Is there any signature missing.
 Whether there is a cross signature or not in the corrections etc.
 The documentation is completed
 Then the franking and stamping is done by fixing the different stamps of the
DP.
Once the team finds the process completed then the form is sent for scanning
otherwise the forms are sent back to the branches for rectification.

Scanning:
In this process the first three pages of the summary sheet viz (Form no 1) are scanned
for presenting the pages in DMS.

57
 DMS:
After the form is scanned then they are presented in DMS (document management
system) which is a software used to maintain the record of the client which includes
the address, phone number, name of client which is used for further processing..

Checker: (process for checking the details)

There are 3 to 4 persons who again check the entries done in DMS and if any
rejection is found then again it is send back to the DMS and if no rejections found
then it is send for further processing that is pan validation.

PAN Validation:
In this step there are two persons who check the PAN card of clients from the Income
Tax site for its validation. This is the step where the form can again be rejected and sent
back to branches.

58
Authorization:
In this process, there are 3 to 4 person who send request to CDSL for authorization in
which a report is generated in every 45 minutes from CDSL that the form is approved
and account is opened. And in this report CDSL gives the client code for every client.
Once the code is generated the details are sent for preparation of Client master report
which is issued to every client.
This client master contains all detail of client including his bank details, nominee detail,
BO Id, client ID etc.
Then the client master report is sent to the department where the security key are
mapped .This is a special feature of reliance Money DP account which provide security
to the client and the password are prepared for cases.
This key is given with the kit known as welcome kit to client which includes client
master, DRF (Demat request form), DIS (delivery instruction slips).
Once the kit is fully equipped then it is dispatched to the client through courier.
The password of the client is dispatched on the other day of dispatch of kit.
With the dispatch of kit the account opening process is completed.

59
 ACCOUNT OPENING FLOW CHART

FRANCHISEE REMISSAR BDE RO

BRANCH

Processing house Mumbai

If any rejection
found send back Application inward
to BRANCH

Entry

Scrutiny
If not then send it
for further
Scanning processing

If any rejections
found send back
to DMS
DMS If not then send it
for further
processing
Checker

PAN validation

Authorization

60
 COMPARITIVE STUDY

Currently the main Players in Retail Brokerage Business are ICICI Direct, Share khan,
5paisa.com, HDFC Securities, India Bulls, and Motilal Oswal. Here is the Brief study and
Comparative analysis of these companies with Reliance Money.

ICICI Direct:

Brokerage and fees :

 Account opening fees : Rs 750/- (One time non-refundable)

 Brokerage : Brokerage of ICICIDirect varies on volume of trade and
inclusive of demat transaction charges, service taxes and courier charges for
contract notes. It ranges from 0.1% to 0.15% for margin trades and 0.4% to
0.85% on delivery based trades.

Advantages of ICICI Direct

 3-in-1 account integrates your banking, broking and demat accounts. All
accounts are from ICICI and very well integrated.
 Investment online in IPOs, Mutual Funds, GOI Bonds, and Postal Savings
Schemes all from one website. General Insurance is also available from
ICICI Lombard.
 Trading is available in both BSE and NSE.

Disadvantages of ICICI Direct

 Getting access to ICICI Direct.com website during market session can be
frustrating.
 ICICI Direct brokerage is high and not negotiable.
Not all stocks are available under Margin Plus.

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Sharekhan:
Sharekhan is online stock trading company of SSKI Group, provider of India-based
investment banking and corporate finance service. ShareKhan is one of the largest stock
broking houses in the country. Sharekhan‘s equity related services include trade
execution on BSE, NSE, Derivatives, commodities, depository services, online trading
and investment advice. Trading is available in BSE and NSE. Along with Sharekhan.com
website, ShareKhan has around 250 offices around the country.

Allow investor to buy and sell stocks online along with the following features like:

 multiple watch lists,

 Integrated Banking,
 demat and digital contracts,
 Real-time portfolio tracking with price alerts and Instant credit & transfer.
 Online trading account for investing in Equities and Derivatives
 Free trading through Phone (Dial-n-Trade)
 Two dedicated numbers for placing your orders with your cellphone or
landline.
 Automtic funds tranfer with phone banking (for Citibank and HDFC bank
customers)
 Simple and Secure Interactive Voice Response based system for
authentication
 Get the trusted, professional advice of our telebrokers
 Integration of: Online trading + Bank + Demat account
 Instant cash transfer facility against purchase & sale of shares
 IPO investments
 Instant order and trade confirmations by e-mail
 Single screen interface for cash and derivatives

62
India bulls:

Indiabulls is India‘s leading Financial Services and Real Estate Company having
presence over 414 locations in more than 124 cities. Indiabulls Financial Services Ltd
is listed on the National Stock Exchange, Bombay Stock Exchange, Luxembourg
Stock Exchange and London Stock Exchange.

Document Required to open Equity Trading Account with Indiabulls:

 One passport size photograph.

 Proof of bank account
 Copy of PAN card.
 Identity proof - copy of passport or PAN card or voter ID or driving license or
ration card.
 Address proof - copy of driving license or passport or ration card or voter card or
telephone bill or electricity bill or bank statement.

Brokerage and fees :

Account opening fees : Rs 1200/- (One time non-refundable) as below:

250/- Equity Trading Account opening charge

200/- Demat Account opening charge
750/- Software charges

Advantages of Indiabulls Equity Trading Account :

 Brokerage is less compare to other online trading companies.
 Provide trading terminal ‗powerbulls‘, a java based software. It‘s very fast in
terms of speed and execution. Power Indiabulls trading terminal is the most
advanced new generation trading platform with great speed.
 Power Indiabulls is extremely reach in features including

63
  Live Streaming Quotes
 Fast Order Entry and execution
 Tic by Tic Live Charts
 Technical Analysis
 Live News and Alerts,
 Extensive Reports for Real-time Accounting.

Disadvantages of Indiabulls Equity Trading Account

 Need a HDFC account for instant transfer.

 Cannot Apply IPO.

5 paisa.com:

5paisa is Online Stock Trading Company of India Infoline Securities Private Ltd.,
Owner of popular business portal Indiainfoline.com. Besides high quality investment
advice from an experienced research team, the site offers real time stock quotes, market
news and multiple tools for technical analysis. Trading is available in BSE and NSE.

Trading Terminals Available

 Investor Terminal (IT)

Investor Terminal is 5Paisa‘s equity trading terminal for low volume trader.
This is web based terminal and could access from anywhere. This product
provides limited features in comparison of Trader Terminal, which is another
product provided by 5Paisa.

 Trader Terminal (TT)

Trader Terminal is for high volume equity traders. Trader Terminal provides
high volume trading with powerful interface and fast order execution.

64
Advantages of 5paisa Trading Terminals

 Very fast execution speed.

Disadvantages of 5paisa Trading Terminals

 No intra-day tick by tick charts in Investor Terminal (IT).

 Learning 5paisa Trading Terminal is little hard.

Motilal oswal:

Motilal Oswal Securities Ltd. (MOSt) is one of the best broking houses in India. Founded
in 1987, MOSt has in 200 cities through 400 outlets. MOSt provide advice-based broking
(equities and derivatives), portfolio management services (PMS), e-Broking, depository
services, commodities trading, IPO and mutual fund investment advisory services.

MOSt E-Broking is complete online stock trading solution for Indian stock market.

Features:

Following are the features of MOSt E-Broking account:

 Easy single screen trader with instant trade confirmation similar to

exchange based trading terminals.
 Access to various online reports like margin report, Demat A/c details,
trades executed, turnover report, net position report with mark to market
profit/loss and realized profit.
 Online transfer funds through HDFC Bank.

65
HDFC Securities:

HDFC Securities (HDFCsec) is Equity Trading Company of HDFC Bank. HDFC

Securities provide both online trading and trading on phone. The HDFC Securities
trading account has a unique 3-in-1 feature that integrates your HDFC Securities
trading account with your existing HDFC bank savings account and existing Demat
account. Funds / shares are seamlessly moved from the linked Demat/Bank account to
execute the transactions. HDFCsec provides Cash-n-Carry on both NSE and BSE,
Day trading on both NSE and BSE, Trade on Futures & Options on the NSE and
Online IPO Investment.

Features:

 Seamless Transactions - By integrating your accounts, we ensure minimal waste

of time during movement of your funds and shares.
 Speed - Orders are placed electronically, so proceeds are available instantly.
 No manipulation - To prevent any mismanagement, we will send you an email
confirmation, the minute your order is executed.
 Safety and Security - HDFC Securities offer the highest level of security such as
128-bit encryption technology.
 Dedicated and Separate contact numbers - for trading over the phone as well as
for customer care.

Brokerage and fees :

Rs. 799/- (Including trading account, bank account and DP account with HDFC)

Note: HDFC Bank savings account required a quarterly minimum balance of Rs.
2,500/-. If you already have Saving account or DP account with HDFC, you could
link them with trading account.

66
 COMPARATIVE STUDY

ONLINE A/C ANNUAL BROKERAG BROKERAG MARGIN MARGIN

BROKE OPENIN MAINTENANC E E
R G E CHARGE (DELIVERY) (INTRADAY)
CHARGE (DELIVERY) (INTRADAY)
Reliance 750 200 0.01% 0.01% DEPOSITED 5 TIMES
Money AMOUNT

ICICI 750 250 0.75 % 0.05 % DEPOSITED 8 TIMES

Direct AMOUNT

Share 750 300 0.40 % 0.05 % 4 TIMES 8 TIMES

Khan

India 900 NONE 0.40 % 0.05 % 4 TIMES 8 TIMES

Bulls

5 paisa. 550 NONE 0.25 % 0.05 % 2-4 TIMES 6-8 TIMES

com

Motilal 450 250 0.35 % 0.05 % 2-4 TIMES 10 TIMES

Oswal

HDFC 799 300 0.45 % 0.10 % DEPOSITED DEPOSITED

AMOUNT AMOUNT

67
 FRANCHISE MODEL

Reliance money gives equal opportunities to self employed people by letting them earn
through the fantastic DSA model of it. This model provides hefty commission on all the
products of reliance money and enhances the sales. For a certain number of franchisees
there is a manager who is the person responsible to excel the satisfaction of the franchise
holder. A DSA can deal into all the products of reliance capital, i.e.:-

 DEMAT Account.
 Life Insurance.
 General Insurance.
 Mutual Funds.
 Credit Cards.
 Portfolio Management Services etc.

Else of these products there are many other promotional products which come in
different variables of time giving good earning opportunities to the DSAs.

68
 PROMOTION

As into customer survey I was also asked to go for promotion of reliance money on my
own. The best way I found out to promote the product was a canopy. Working on this
way, after 15 days of hard struggle I finally managed to get the permission of canopy in
Kirloskar Pneumatics. The customer exposure I got over there was terrific and I
generated some good leads for the company and this was one of my achievement of the
project conducted.

69
 SWOT ANALYSIS

Meaning:

A SWOT analysis is a method for describing the business in terms of those factors that
have the most impact. Essentially the co. nominate the Strengths and Weaknesses of the
business (its internal resources and capabilities), then it identify the Opportunities and
Threats it faces (factors external to the organization). Strengths and weaknesses are
often internal to your organization. Opportunities and threats often relate to external
factors. For this reason the SWOT Analysis is sometimes called Internal-External
Analysis and the SWOT Matrix is sometimes called an IE Matrix Analysis Tool.

SWOT ANALYSIS OF RELIANCE MONEY

Strengths:

 Price competitiveness ( E.g.: No brokerage is charged, Annual maintenance

charges are least)
 Reliance Money is able to respond very quickly as we have no red tape, no need
for higher management approval, etc.
 Reliance Money is able to give really good customer care, as the current small
amount of work means we have plenty of time to devote to customers
 Their lead consultant has strong reputation within the market
 They change direction quickly if our approach isn‘t working
 Management philosophy and commitment to maximize shareholders returns of
Reliance Money.
 Ongoing activities of the company to support up gradation of operational
performance and rise in productivity.

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  Team of talented and committed professionals available to improve company‘s
performance.

Weaknesses:

 New entrant in the market which is dominated by big brand names like ICICI,
India Bulls etc.
 Company has a small staff with a shallow skills base in many areas

Opportunities:

 The share trading sector is expanding, with many future opportunities for success
 The competitors may be slow to adopt new technologies.

Threats:

 Developments in technology will change the share market beyond the ability to
adapt.
 A small change in focus of a large competitor is a threat for the market position.
 Constant pressure to be cost competitive to meet customer expectations.
 Relentless pressure to maintain profitability due to rising input/raw material
prices.

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 QUESTIONNAIRE
Q. 1). Which age group do you belong?
a). 18 – 30.
b). 30 – 40.
c). 40 – 50.
d). 50 and above.

Q. 2). What do you do?

a). Service.
b). Self- employed.
c). Profession.
d). Student.
e). Retired.

Q. 3). Your income per annum?

a). upto 1 lakh.
b). 1 lakh – 2lakh.
c). 2lakh – 3lakh.
d). 3lakh and above.

Q. 4). What is your perception about Reliance in general?

________________________________________________________________________
________________________________________________________________________
.

Q. 5). Have you heard about Reliance Money?

a). Yes.
b). No.

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Q. 6). How do you come to know about Reliance Money?
a). Advertisement.
b). Friends.
c). Relatives.
d). Our executives.

Q. 7). Do you trade?

a). Yes.
b). No.

Q. 8). If no, then would you like to trade if provided with complete market knowledge?
a). Yes.
b). No.

Q. 9). Who is your current service provider?(for the people who alredy trade).
a). ICICI Direct.
b). India Bulls.
c). Karvy.
d). Religare.
e). Reliance Money.
f). Share Khan.
g). Motilal Oswal.
h). Anand Rathi.
i). others.

Q.10). how do you generally trade?

a). Online.
b). Offline.

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Q. 10). Are you satisfied with your current service provider? If not, then do specify your
reason of dissatisfaction?(non reliance customers)
a). Yes.
b). No.
__________________________________________________________________
__________________________________________________________________
.

Q. 11). What amongst the following do you feel is the most important element to open up
a demat/trading account?
a). Good market predictions.
b). lower brokerage charges.
c). Fast responding services.
d). User friendly web portal.
e). Good relationship managers.

74
Q. 1). Which age group do you belong?
a). 18 – 30.
b). 30 – 40.
c). 40 – 50.
d). 50 and above.

8%
10%

18 – 30.
30 – 40.
40 – 50.
21%
61% 50 and above.

QUALITATIVE ANALYSIS:
According to the survey, most of the samples which enquired about the investment
products were in the age range of 18 – 30. The reason behind can be assumed that people
of this age range have less responsibilities to bear and thus have maximum risk bearing
capacity and therefore are more keen towards investments as they have more disposable
income as compared to older age groups.

75
Q. 2). What do you do?
a). Service.
b). Self- employed.
c). Profession.
d). Student.
e). Retired.

6%
6%

7%
a). Service.
b). Self- employed.
c). Profession.
57% d). Student.
24%
e). Retired

QUALITATIVE ANALYSIS:
As seen by the survey most of the people interested into investments were the people who
were into service. This is because these are the people who are able to find more time and
disposable income as compare to another sample groups. Though self-employed people
are also keen towards investments but they also need liquid cash in order to keep their
money running into the business. Professionals are assumed to get no time because of
their hectic schedules and students are anyhow not so interested towards investments at
such an initial stage. Students do invest into stock markets as their hobby.

76
Q. 3). Your income per annum?
a). upto 1 lakh.
b). 1 lakh – 2lakh.
c). 2lakh – 3lakh.
d). 3lakh and above.

11%

37% a). upto 1 lakh.

24%
b). 1 lakh – 2lakh.
c). 2lakh – 3lakh.
d). 3lakh and above.

28%

QUALYTATIVE ANALYSIS:
People earning in the range of 1 lakh are not able to invest much because they are not
able to invest much. Therefore the range of 3 lakhs and above is the appropriate range
which should be targeted for the sales of investment products.

77
Q. 4). What is your perception about Reliance in general?

________________________________________________________________________
________________________________________________________________________
.
QUALITATIVE ANALYSIS:
Though most of the people as shareholders feel Reliance is a company which is ideal to
invest your money in but very few actually have faith in Reliance when these
shareholders come into the shoes of buyers. They feel that Reliance at most of the times
is not able to keep upto its promises as they feel that Reliance keeps all of its focus on
sales and hardly gives any importance to the service side. People have a perception that
Reliance is a name which is associated with hidden charges and they actually don‘t
believe on the tariffs of Reliance very easily. Most of the complaints were towards the
service segment of Reliance as a company.

78
Q. 5). Have you heard about Reliance Money?
a). Yes.
b). No.

9%

a). Yes.
b). No.

91%

QUALITATIVE ANALYSIS:
Almost all of the people I met during the project were familiar with the name of Reliance
Money which is a good sign for the marketing department as this figure shows that this
product is marketed well into the market. The remaining unknown people are those which
actually do not participate into investment activities and are thus unaware of this market
segment.

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Q. 6). How do you come to know about Reliance Money?
a). Advertisement.
b). Friends.
c). Relatives.
d). Our executives.

22%

a). Advertisement.
b). Friends.
11% c). Relatives.
55%
d). Our executives.

12%

QUALITATIVE ANALYSIS:
Most of the people came to know about Reliance Money through the sales executives
which is again a good sign which shows that Reliance has an efficient sales staff which is
working with its full efficiency and dedication. And again 23% of people have come to
know about the company by their friends or relatives which shows that the efficiency of
the sales staff has turned the existing customers into the brand ambassadors of the
company to attract the potential customers.

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Q. 7). Do you trade or invest?
a). Yes.
b). No.

22%

a). Yes.
b). No.

78%

QUALITATIVE ANALYSIS:
Almost 80% of the people surveyed are trading or investing their money into the market
which shows that the market potential is very high and future growth perspectives of the
company are very good.

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Q. 8). If no, then would you like to trade if provided with complete market knowledge?
a). Yes.
b). No.

30%

a). Yes.
b). No.

70%

QUALITATIVE ANALYSIS:
This can be seen very easily from the response that most of the people do not show their
interest in the investment activities because they are unaware of the market trends and
thus they are afraid of burning their hands. These people if provided with complete
market knowledge and proper purchase assistance can turn into the potential customers of
the company and these customers as fully satisfied ones will remain much loyal to the
company than the other ones.

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Q. 9). Who is your current service provider?(for the people who already trade).
a). ICICI Direct.
b). India Bulls.
c). Karvy.
d). Religare.
e). Reliance Money.
f). Share Khan.
g). Motilal Oswal.
h). Anand Rathi.
i). others.

4% 2%
6% a). ICICI Direct.
b). India Bulls.
12% 35% c). Karvy.
d). Religare.
e). Reliance Money.
f). Share Khan.
g). Motilal Oswal.
h). Anand Rathi.
28% 6% i). others.
2%
5%

QUALITATIVE ANALYSIS:
It‘s just one and a half year of reliance money into the market and it has become the
second largest player in the industry. This shows that reliance money is moving on the
right path but it needs to maintain the quality of services and assistance offered to the
customers and keep moving ahead consistently. ICICI though as a largest player has a
good quantity of customers but it lacks good quality traders as it is the most expensive
brokerage house in India but it manages to make customers because of no account
opening charges. As discussed earlier, reliance money has also eliminated the doubt of

83
hidden charges by taking prepaid brokerage from the customer. This concept relaxes the
customers and they feel free to trade upto the amount they have already paid.

Q.10). how do you generally trade?

a). Online.
b). Offline.

25%

a). Yes.
b). No.

75%

QUALITATIVE ANALYSIS:
Because of the tremendous growth of technology the way of trading and investing has
also changed a lot. People now prefer to trade online as they feel it is more transparent
and reliable rather than trading offline as there are some chances of human error while
trading online.

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Q. 10). Are you satisfied with your current service provider? If not, then do specify your
reason of dissatisfaction?(non reliance customers)
a). Yes.
b). No.
__________________________________________________________________
__________________________________________________________________
.

32%

a). Yes.
b). No.

68%

QUALITATIVE ANALYSIS:
Though many people think that they are completely satisfied still the number of
unsatisfied users id substantial. Customers complain that either the brokerage house is too
expensive but most of the users were ready to pay more on the sake good purchase
assistance. People want the assistance to be customized according to their risk bearing
capacity and this is the area where reliance lacks behind as all its assistance is in general
whereas customers want it to be according to their needs. If reliance money puts in more
effort to its relationship management than it will soon become the market leader and will
gain loyal customers.

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Q. 11). What amongst the following do you feel is the most important element to open up
a demat/trading account?
a). Good market predictions.
b). lower brokerage charges.
c). Fast responding services.
d). User friendly web portal.
e). Good relationship managers.

22% a). Good market

26%
predictions.
b). lower brokerage
charges.
c). Fast responding
services.
14% d). User friendly web
portal.
18% e). Good relationship
managers.
20%

QUALITATIVE ANALYSIS:
After the survey it‘s pretty clear now that people are actually ready to pay more on the
sake of excellent market predictions, good investment assistance and relationship
management. Reliance money which is a bit weak in all the three areas can make up new
customers by offering lowest brokerage charges and other monetary benefits but to
sustain in the industry well it needs to create a customized system which takes care of
each and every individual. This will not only increase the loyalty of the customers
towards the company but their good word of mouth will also bring in new customers
without any marketing cost.

86
 RECOMMENDATIONS AND SUGGESTIONS

After analyzing all the expectations of the customers and the experience they basically
get while using the product we can a gap between the expectations and the experience.
This gap needs to be filled before it starts bringing in some adverse consequences. To fill
this gap I have come up with some recommendations and suggestions which can help the
company satisfy their customers better. These suggestions are listed below:-

1) Though reliance money is having a very good and well trained sales staff which is
able to bring in customers but it is very necessary to build relationship with the
customers to keep them retained. Company should train its employees regarding
relationship management so that the products can be personalized according to the
needs of the customers.
2) Most of the customers trade via the online platform of the company and not from
the office therefore company should start a system of filling up of feedbacks and
complaints online so that rectification of errors can be done easily.
3) Many of the customers are not in touch of company but actually deal with
franchisees and remissers. These are untrained people and are unaware of the
importance of relationship. Company should start a kind of soft skill training
program for all of its distributors so that the customers feel the same level of
satisfaction as they feel while transacting with the company.
4) As seen in the qualitative analysis, many people don‘t trade or invest because they
don‘t have any knowledge regarding the market. Company should start a free of
cost training program for these kinds of customers.
5) Though the sales staff is very effective but reliance money is lacking behind in
operational effectiveness. Company should take a note on this.
6) Motivational programs should be conducted in order to increase the efficiency of
the customers.

87
 7) Though the service quality is good but it should become better consistently as
good service and better relationships are the key success factors of current market
situations.
8) The process of documentation is a hassle for customers as it is not at all user
friendly. Company should take care of user friendliness of the system.

Some of these changes in the system can actually create miracle for the company. These
changes though look small but create a lot of value to the customers and make the
company more approachable.

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 LIMITATIONS

While conducting the survey there were various limitations because of which the results
cannot be declared correct by 100%. Some of these limitations are as follows:-

1) People are reluctant towards the survey and take it as a waste of time.
2) Taking appointments was very tough as people were not ready to give their time
for a survey.
3) Cold callings were not entertained everywhere and thus we were not able to meet
all the classification of customers.
4) Because of the temporary fluctuations in the market it was a tough time talking to
the people regarding investments.
5) People were reluctant towards the products of reliance because of a general
perception that reliance always comes with low price but always has hidden
charges.
6) Language was a hurdle while talking to many of the local people.

Though these limitations were there but because of the support of the people I have
surveyed and the experience I have gained while preparing for the survey presentations of
my college, I was able to complete the survey and prepare my project report much before
the deadline.

89
 CONCLUSION

The expectations of the customers are regularly increasing because of the increasing
competition and emergence of global market. In such conditions it becomes very
necessary for a company to fulfill all the expectations of the customers and give them a
delightful experience. Though reliance money is working very hard in order to do so but
there is a gap between the expectations and the experiences of the customers which is
widening regularly. This gap has emerged because of the sales oriented focus of reliance
money. In order to increase the sales figures, the company has somewhere ignored the
service delivery and left the customer on his own. In order to fill this gap, company needs
to customize its services as it is dealing into financial instruments. These financial
instruments are risky and it is very essential to make the customer feel that you are taking
care of his money. This can be done only if all the services are customized and the system
is made transparent for the customer as well as for the employees.

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91