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SUMMER TRAINING REPORT SUBMITTED TOWARDSTHE PARTIAL FULFILLMENT OF POST GRADUATE
DEGREE IN INTERNATIONAL BUSINESS
SUBMITTED BY:Vikas Mital
MBA-IB (2009-20011)Roll No. : A-1802009118
INDUSTRY GUIDE FACULTY GUIDEMr. Bhupinder Singh Ms. Ekta Nand Chahal(Center Manager) FacultyReliance Securities Limited A.I.B.S., Noida
AMITY INTERNATIONAL BUSINESSSCHOOL, NOIDA
AMITY UNIVERSITY UTTAR PRADESH
1
An Overview & AnalysisOf Upcoming Trends in
Capital Market
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COMPANY CERTIFICATE
TO WHOM IT MAY CONCERN
This is to certify that Mr.Vikas Mittal, a student of Amity
International Business School, Noida, undertook a project on An
Overview & Analysis of Upcoming Trends in Capital Marketat Reliance Securities Limited from 17th May to 11th July.
Mr.Vikas Mittal has successfully completed the project under the
guidance of Mr.Bhupinder Singh. He is a sincere and hard-working
student with pleasant manners.
We wish all success in her/him future endeavors.
Signature with dateMr. Bhupinder Singh
(Center Manager)
Reliance Securities Limited
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CERTIFICATE OF ORIGIN
This is to certify that Mr.Vikas Mittal, a student of Post Graduate
Degree in M.B.A.-International Business, Amity International
Business School, Noida has worked in the Reliance Securities Ltd,
under the able guidance and supervision of Mr.Bhupinder Singh,
designation Center Manager, Company Reliance Securities
Limited.
The period for which he was on training was for Eight (8) weeks,
starting from 17th May to 11th July. This Summer Internship report
has the requisite standard for the partial fulfillment the Post GraduateDegree in International Business. To the best of our knowledge no
part of this report has been reproduced from any other report and the
contents are based on original research.
Signature Signature(Faculty Guide) (Student)
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ACKNOWLEDGEMENT
I express my sincere gratitude to my industry guide Mr. BhupinderSingh, (Designation) Center Manager, (Company) RelianceSecurities Ltd, for his able guidance, continuous support andcooperation throughout my project, without which the present work
would not have been possible.
I would also like to thank the entire team of Reliance SecuritiesLimited, for the constant support and help in the successful
completion of my project.
Also, I am thankful to my faculty guide Ms.Ekta Nand Chahal ofmy institute, for his/her continued guidance and invaluableencouragement.
Signature(Student)
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TABLE OF CONTENT
Serial No. Topics Page No.
1. Company Certificate 2
2.
Certificate of Origin 3
3. Acknowledgement 4
4. Executive Summary 7
5. Preface 8-9
6. Objective of Training 10
7. Scope of the Study 11
8. Reliance ADA Group 12
9. Profile Of the Company 13-14
10. Business Overview 15-16
11. Partners Of the Company 17
12. Products Of the Company 18
13. Reliance Life Insurance 19-25
Insurance Plans 26-38
14. Reliance Demat Account 39-47
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15. Reliance Mutual Fund 48-60
16. Reliance General Insurance 61-66
17. Market Analysis 67-72
18. Data Analysis 73-75
19. Recommendation 76
20. Bibliography 77
21. Conclusion 78
22. Case Study 79
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Executive Summary
This project has been a great learning experience for me; at the same
time it gave me enough scope to implement my analytical ability.
The first part gives an insight about the Demat Account, Life
Insurance, General Insurance and mutual funds and theirs various
aspects. It is purely based on whatever I learned at Reliance Money.
One can have a brief knowledge about mutual funds and all its basics
through the project. Other than that the real servings come when one
moves ahead. Some of the most interesting questions regarding these
products have been covered. Some of them are:
Why has it become one of the largest financial intermediaries?
How investors do chose between funds and these products?
Most popular stocks among fund managers, most lucrative sectorsfor fund managers, a special report on Systematic Investment Plan,
does fund performance persists and the topping of all the servings in
the form of portfolio analysis tool and its application.
All the topics have been covered in a very systematic way. The
language has been kept simple so that even a layman could
understand.
All the quarries of the customer asked by them had been solved with
the support of the seniors in the organization. The problems of the
customer were being recorded for the purpose of the research and
development.
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PREFACE
Private sector is one of the fastest growing sectors in the country.
After the Liberalization the Private industry still holds vast
opportunities for young and experienced professionals. On the life
insurance side public sector life insurance Corporation of India is, of
course, the largest player with a history of over 50 years. After
Privatization, the PSU has been making efforts to improve efficiency
and customer services. Among the private life insurance player
Reliance life insurance is the key player.
Reliance money - Anil Dhirubhai Ambani Group offers most dynamic
web based trading environment to its customers .The Reliance Money
stock trading websites uses special security features 'Security Token',
which makes you online trading experience more secure without
complexity. Reliance ADG provide the vast opportunities to the new
aspirants of the business administration. The financial Sector is full of
competition even if there are a lot of opportunities to the job in
Reliance Money and It is the platform to go on the highest peak in the
life of any coming one. Reliance Money is a single window that
provide the multisystem facilities of the financial Products. There aremany companies in the market which are providing the financial
product like insurance, demat account services, mutual funds, general
insurance, Portfolio management services(PMS), wealth
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management, gold coins, Money changing , Money Transfer, and the
others.
Hence Reliance Money provide many financial product on the single
window. Reliance money deals with the product and Investmentoptions are available in...
Equity (Stock) Trading
Derivatives Trading Special feature is available first time to
track your positions online, in real time.
Forex Trading
Commodity Trading
IPO's
Mutual Funds
Insurance
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OBJECTIVE OF TRAINING
Frankly speaking, any job or the task, have the specific objective i.e.
what is need and what is the requirement of the particular work. In
the same way my objective is also to learn something from the
summer internship program. It means that the training program inany reputed company give the market knowledge of its subject matter
of study.
My main objective in Reliance ADA Group was to insure the investors
about the security of their investment in the company and providing
them a secured platform for the investment and return on the
investments.
To know the different aspects of capital market, in which one
can invest and get beneficial returns on their investments.
To get knowledge about different areas in which investments
are much safer than other aspects.
To know the different phases of investments.
Reliance Money a growing reputed company give the good platform in
investing different financial instruments like insurance, Equity &
commodities, derivative, IPOs, offshore investment, mutual fund,
gold coins etc.
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SCOPE OF STUDY
The scope of the study refers to the job that to know about the
activities of the organization. The study means that the analysis of the
products of the company on which he/she has to focus.
During the summer training the volunteer need to find out the
corporate strategies of the running company and the mile stone which
the company has covered during its journey. In the summer training,
it is necessary for the student that he /she involve with the
experience guys to get the knowledge about the company. That is how
the company has got the success, Or if it is going in the loss, why.
In my training period I have found that the reliance group is the
biggest group in Indian companies. I felt that I can learn the more in
the Reliance Life Insurance Limited.
Reliance Life Insurance Limited is the part of the Reliance Capital
Limited which is a growing company in the financial products.
Reliance Anil Dhirubhai Ambani group is also deals in
communication, energy, natural resources, media, and entertainment,
healthcare and infrastructure.
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Reliance ADA Group
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COMPANY PROFILE
Reliance money is a part of the reliance Anil Dhirubai Ambani
Group and is promoted by Reliance capital, the fastest growing
private sector financial services company in India, ranked amongst
the top 3 private sector financial companies in terms of net worth.
Reliance money is a comprehensive financial solution provider that
enables you to carry out trading and investment activities in a secure,
cost-effective and convenient manner. Through reliance money, you
can invest in a wide range of asset classes from Equity, Equity and
commodity Derivatives, Mutual Funds, insurance products, IPOs to
availing services of Money Transfer & Money changing.
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Reliance Capital
RelianceLifeInsurance
RelianceGeneralInsurance
RelianceMoney
RelianceConsumer
Finance
RelianceMutualfundMutual Fund
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Reliance Money offers the convenience of on-line and offline
transactions through a variety of means, including its Portal, Call &
Transact, Transaction Kiosks and at its network of affiliates.
Some key steps of the company that are as..
Success is a journey, not a destination. If we look for
examples to prove this quote then we can find many but there is none
like that of Reliance Money. The company which is today known as
the largest financial service provider of India.
Success sutras of Reliance Money:The success story of the company is driven by 8 success sutras
adopted by it namelytrust, integrity, dedication, commitment,
enterprise, hard work and team play, learning and
innovation, empathy and humility. These are the values thatbind success with Reliance Money.
Vision of Reliance MoneyTo achieve & sustain market leadership, Reliance Money shall aim for
complete customer satisfaction, by combining its human and
technological resources, to provide world class quality services. In the
process Reliance Money shall strive to meet and exceed customer's
satisfaction and set industry standards.
Mission statement:
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Our mission is to be a leading and preferred service
provider to our customers, and we aim to achieve this
leadership position by building an innovative, enterprising ,
and technology driven organization which will set thehighest standards of service and business ethics.
BUSINESS OVERVIEW
Reliance Capital has interests in asset management and mutual funds,
life and general insurance, private equity and proprietary
investments, stock broking, depository services, distribution of
financial products, consumer finance and other activities in financial
services.
Reliance Mutual Fund is India's no.1 Mutual Fund. Reliance Life
Insurance is India's fastest growing life insurance company and
among the top 4 private sector insurers. Reliance General Insuranceis India's fastest growing general insurance company and the top 3
private sector insurers. Reliance Money is the largest brokerage
and distributor of financial products in India with more than 2.5
million customers and the largest distribution network. Reliance
Consumer finance has a loan book of over Rs. 8,000 crores at the end
of June 2009.
Reliance Capital has a net worth of Rs.6, 862 crores (US$ 1.6 billion)
and total assets of Rs. 19,940 crores (US$ 4.6 billion) as of June 30,
2008 and over 26,000 employees.
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Money has increased its market share among private financial
companies to nearly Convenient & effective Anytime & anywhere
financial transaction capability. Launched in April 2007. It provides
the Flat fees system. It has 2.2 million customers in 1 year of officiallaunch. It has over 5,000 outlets across 700 towns/cities. Average
daily turnover in excess of Rs 2,000 crores.
Considering the entire life market, including the Rs. 12,890 crores
booked by life insurance Corporation, Reliance life insurance market
share works out to around 6.25%.
The life insurance market continuous to be dominated by LIC which
has about 67% share this only a marginal dip from its 73% share in
end-July. These comparisons are only for first year or new business
premium.
The gap between Reliance life insurance and the second-in-line
private insurer is vast. In fact, this scenario has led some analysts to
wonder if the company is not a trifle too aggressive. But others say
this has more to do with the companies customer-centric focus, its
pan-India presence and superior risk management and investment
strategies. Reliance Money is not, however, resting on its laurels.
Companys customer centric approach will be studied during the
training period and the finding of the research work will definitely
focus on the present condition & future requirement (if any) relatingto products of company.
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PARTNERS OF COMPANY
BARISTA COFFEE WEBAROO
KHUSHALI BAZAAR
DTDC
REUTERS
THE MUTHOOT GROUP
CMC LIMITED
WORLD GOLD COUNCIL
DUBAI INTERNATIONAL SECURITIES
WINCOR NIXDORF
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PRODUCTS OF COMPANY
Demat Account Services
Reliance Mutual Funds
Reliance General Insurance
Reliance Life Insurance
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RELIANCE DEMAT ACCOUNT
Overview of Demat Account.
In India, a Demat account, the abbreviation for dematerialized
account, is a type of banking account which dematerializes paper-
based physical stock shares. The dematerialized account is used to
avoid holding physical shares: the shares are bought and sold through
a stock broker.
This account is popular in India. The Securities and Exchange Board
of India (SEBI) mandates a demat account for share trading above
500 shares. As of April 2006, it became mandatory that any person
holding a demat account should possess a Permanent Account
Number (PAN), and the deadline for submission of PAN details to the
depository lapsed on January 2007.
Procedure
1. Fill demat request form (DRF) (obtained from a depository
participant or DP with whom your depository account is opened).
2. Deface the share certificate(s) you want to dematerialize by writing
across Surrendered for dematerialization.
3. Submit the DRF & share certificate(s) to DP. DP would forward
them to the issuer / their R&T Agent.
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4. After dematerialization, your depository account with your DP
would be credited with the dematerialized securities.
Reliance Money Demat Account
Services
Reliance Money Transacting and investing simplified.
Get ready to change the way you transact and invest in financial
products and services.
Whether you wish to transact in equity, equity & commodity
derivatives, IPOs offshore investments or prefer to invest in mutual
funds, life & general insurance products or avail money transfer and
money changing services, you can do it all through reliance money.
Simply open a reliance money account and enjoy the convenience of
handling all your key financial transactions through this one window.
Benefits of having a reliance money account
Its cost effective
You pay comparatively lower transaction fees. As an introductory
offer, we invite you to pay a flat fee of just Rs. 500/- and 750/- and
transact through reliance money. This fee is valid for two months or a
specified transaction value
See the table below for details.
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Its offers single window access
Through reliance moneys associates, you can transact in equity,
equity and commodities derivatives, offshore investments mutual
funds, IPOs life insurance, general insurance, money transfer, money
changing and credit cards, amongst others.
Its convenient
You can access reliance moneys services through
The internet
Transaction kiosks
The phone (call & transact) Our all India network of associates
On an assisted trade (through the call centre or our network of
associates) a charge of Rs 12 per executed trade will be applicable.
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Its SafeYour account is safeguarded with a unique security number that
changes every 32 seconds. This number works as a dynamics
password to keep your account extra safe.
Its provides you a demat accountYou get your own demat account with reliance capital at an annual fee
of just Rs. 200/-.
Its provides you a 3-in-1 facility.You can access your banking, trading and demat account through a
single window and transfer funds across accounts seamlessly.
It provide you value- added servicesAt www.reliancemoney.com, you get
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 markets
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Tools that help you plan your investments, tax, retirement, etc.
in the personal finance section
Risk Analyzer for analysis of your risk profile
Asset allocators to build an appropriate investment portfolio
Innovative use of technology for facilitating convenient
trading/investments kiosks (similar to ATMs)
Reliance Money Provide the kiosks (similar to ATMs) Facilities, totheir customer through which the customers can trade on available
kiosks at the particular Branch of Reliance Money. The company is
going to open these kiosks in the market as the ATMs of the Banks.
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Reliance Money provides 3 different trading platforms for equity
trading:
Insta Trade Fast Trade Easy trade
The benefits
A safe and convenient way to hold securities;
Immediate transfer of securities;
No stamp duty on transfer of securities;
Elimination of risks associated with physical certificates such as
bad delivery, fake securities, delays, thefts etc.;
Reduction in paperwork involved in transfer of securities;
Reduction in transaction cost;
No odd lot problem, even one share can be sold;
Nomination facility;
Change in address recorded with DP gets registered with all
companies in which investor holds securities electronicallyeliminating the need to correspond with each of them
separately;
Transmission of securities is done by DP eliminating
correspondence with companies;
Automatic credit into demat account of shares, arising out of
bonus/split/consolidation/merger etc.
Holding investments in equity and debt instruments in a singleaccount.
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Required Documents
The extent of documentation required to open a demat account may
vary according to your relationship with the institution. If you plan to
open a demat account with a bank, a savings, current and, or other
account for which the holder have been issued a check book, such
holder has an edge over the non-account holder. In fact, banks usually
offer additional incentives to customers who open a demat account
with them. Along with the application form, your photographs (with
co-applicants) and proof of identity/residence/date of birth have to be
submitted. The DPs also ask for a DP-client agreement to be executed
on non-judicial stamp paper. Here is a broad list:
A canceled check, preferably MICR Proof of Identification
Proof of Address
Proof of Pan card (mandatory)
Recent photographs, one and, or more
For proof of identification and, or address self-attested facsimile
copies of PAN card, Voters ID, Passport, Ration card, Drivers license,
Photo credit card, Employee ID card, Bank attestation, latest IT
returns and, or latest Electricity/Landline phone bill are sufficient.
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While they only ask for photocopies of the documents, they will need
the originals for verification.
Points To Remember
1. Only securities admitted by NSDL can be dematerialized. The
list is available with your DP.
2. Only securities registered in the name of the account holder can
be dematerialized.
3. Dematerialization is normally completed within 15 days afterthe share certificates have reached the issuer/ their R&T Agent.
Thus it may take you a month from the date you hand over
shares, to receive demat credit.
4. Dematerialization would be done only when the issuer / their
R&T Agent is satisfied of genuineness of securities & ownership
status.
5. All the joint holders should sign the DRF.
6. The pattern of holding in the DRF should match the pattern of
holding on the share certificate & the pattern in which account
is opened.
7. Demat requests with name(s) not matching exactly with the
name(s) appearing on the certificates merely on account of
initials not being spelt out fully or put after or prior to the
surname, would be processed, provided the signature(s) of the
client(s) on the DRF tallies with the specimen signature(s)
available with the issuer/ their R & T agent.
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8. If the signature in the DRF does not match with the signature
available with the issuer/ their R & T agent, the issuer/ their R
& T agent may at the time of demat confirmation, ask for
additional documentation (like bank attestation/ notarisation,etc.) to prove that the certificate belongs to the person who
forwarded the DRF.
9. In case there is any problem in processing the DRF, contact
your DP and if he cannot resolve the problem you may contact
NSDL.
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MARKET ANALYSIS
Markets
In tune with the global stock markets that began to recover from the
second half of 2003; Indian stock markets too witnessed rapid
growth. Indias two leading indices, the most popular BSE Sensex,
and the one most used by the markets the National Stock Exchanges
S&P CNX Nifty rose to record levels. Both primary and secondary
market activity experienced sharp surge. Much progress was made in
further strengthening and streamlining risk management, market
regulation and supervision. A few aspects of the major developments
in the Indias stock markets are described below. And the insurance
sector is also play an important role in the growth of the financialmarket.
Market Structure
Indian securities market is fairly large as compared to several other
emerging markets. There are 22 stock exchanges in the country,
though the entire liquidity is shared between the countriess two
national level exchanges namely, the National Stock Exchange of
India and the Bombay Stock Exchange Ltd. The regional stock
exchanges are in pursuit of business models that make them viable
and vibrant. Meanwhile, these exchanges have become members of
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the national level exchanges through formation of subsidiaries whose
business is showing continuous growth and progress.
The number of brokers in various stock exchanges rose from 6,711 in
1994-95 to 9,335 in FY06. The number of brokers in all the
exchanges together peaked to 10,213 in the year FY01 but gradually
declined thereafter when the regional stock exchanges began to lose
business in the light of wide ranging market structure reforms
introduced since then. In FY01, when the markets were in upswing,
several regional stock exchanges were generating business owing to
the availability of deferral products, such Badla and different
settlement calendars prevailing at that time in these exchanges. For
instance in FY01, the Delhi Stock Exchange registered cash market
turnover of Rs 838.71 bn; Uttar Pradesh Stock Exchange, Rs 247.47
bn, Ludhiana Stock Exchange Rs 97.32 bn, Pune Stock Exchange Rs
61.71 bn as against Rs 13,395.11 bn of the turnover at the National
Stock Exchange and Rs 10,000.32 bn turnover at the Bombay StockExchange. With the abolition of the deferral products and
introduction of uniform T+2 settlement cycle, the liquidity in these
exchanges flowed to the national level system consisting of NSE and
BSE.
Major Broking house
During the analysis of the market it has been found that there are a lotof the brokeing house in the market which are providing the online
trading facility to the individuals or the group of the individuals.
5paisa.com
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You can now buy and sell shares on 5paisa.com with speeds
comparable and at times better than NSE's NEAT Terminal. This
speed and reliability comes only with perseverance of pioneer backed
by huge investment in technology! You can now buy and sell shareson 5paisa.com with speeds comparable and at times better than NSE's
NEAT Terminal. This speed and reliability comes only with
perseverance of pioneer backed by huge investment in technology.
Advani Share Brokers
Advani Share Broker, a reputed Bombay based on investment house,
operates from India's financial hub, Dalal Street, since sixty years. It
deals in equities, debt and derivatives on the Bombay Stock Exchange
and the National Stock Exchange of India.
AGROY Group of Companies
Agroy group of companies is a well established name in the field of
capital markets and financial services. AGROY Finance & Investment
Ltd. (AFIL) is the group's flagship company engaged in capital
markets as a premier financial and stock broking house. The company
was formed in July 1992. Since then it has enjoyed patronage of a
large number of valued customers and business partners.
Anand Rathi Securities Limited
Anand Rathi Securities Limited provides financial and advisory
services including wealth management, investment banking,
corporate advisory, brokerage & distribution of equities,
commodities, mutual funds and insurance - all of which are
supported by powerful research teams.
India bulls
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India bulls is India's leading retail financial services company with 70
locations spread across 62 cities. While our size and strong balance
sheet allow us to provide you with varied products and services at
very attractive prices, our over 450 Client Relationship Managers arededicated to serving your unique needs.
Religare Securities Ltd.
Religare Enterprises Limited (A Ranbaxy Promoter Group Company)
through Religare Securities Limited, Religare Finvest Limited,
Religare Commodities Limited and Religare Insurance Advisory
Services Limited provides integrated financial solutions to its
corporate, retail and wealth management clients. Provides various
financial services which include Investment Banking, Corporate
Finance, Portfolio Management Services, Equity & Commodity
Broking, Insurance and Mutual Funds.
Jaypee Capital Services Ltd.
Jaypee Capital Services Ltd. is a registered self-clearing member with
National Stock Exchange and SEBI. It has the expertise and the
experience to capitalize on daily stock movements and employ over
20 specialist traders certified by the NSE.
ICICI Direct
Online share and mutual funds trading facility by the ICICI group.
Arcade Share & Stock Brokers
Arcadia group began its modest journey in 1995 and now Arcadia
proudly boasts about membership to NSE,BSE, Depository
Participant (CDSL),MCX,NCDEX .The philosophy of client servicing
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backed by all principal Indian Stock and Commodity exchange gives
Arcadia edge over other players in the industry segment to offer value
based services to its customers.
Indianstockmarket.net
Indianstockmarket.net is an effort to educate Indian investor by
providing useful stock news, stock market websites, informative
articles, resources to various investment guides.
Major Developments in equity brokerage industry in India
Corporate memberships
Wider product offerings
Greater reliance on research
Accessing equity capital markets
Foreign collaborations and joint ventures
Specialized services/niche broking
Online broking
Emerging challenges and outlook for the brokerage industry
Fragmentation
Global Opportunities
Competition from foreign firms
Investor Protection
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DATA ANALYSIS
The following data has been gathered from the various clients of
RELIANCE SECURITY LIMITED.
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59
25
9 7
0
10
20
30
40
50
60
70
Percentage
Sector
EQUITY
MUTUAL FUND
FIXED DEPOSITS
INSURANCE
This figure says that most people go for at 1st EQUITY investmentthen for MUTUAL FUND, FIXED DEPOSITS AND INSURANCE.
Because equity gives good return in short time as well as long term ascompared to mutual fund
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77%
23%
Sharemark M utual fun
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This pie chart shows that share market give return 77% as comparedto mutual fund at 23% return. It signifies mostly more people go forshare market as compared to mutual funds.
35
24
36
20
8
0
5
10
15
20
25
30
35
40
Investment Decisions
Percentage
Oneself
Brokers
Eco. Policies
Market Ramous
Friends/Relatives
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How do investors take their investment decisions is presented in thisbar graph. In this graph it is evident that mostly investment decisionsare taken on the insistence of the brokers firms and companies andthat percentage is 36%.In this area RELIANCE MONEY has its own research report and thatstrike rate has 80%. This is an advantage to the customers ofRELIANCE MONEY.
That chat is show the satisfaction level of current investment( inshare) and long term investment(mutual fund) than here shows thatthe satisfaction level in current investment (shares) is 58% and
satisfaction in long term investment (mutual fund) is 42%.
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58%
42%
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RECOMMENDATIONS
The most vital problem spotted is of ignorance. Investors should be
made aware of the benefits. Nobody will invest until and unless he is
fully convinced. Investors should be made to realize that ignorance is
no longer bliss and what they are losing by not investing.
From the analysis we can say that if there is more risk there is
more return and we can say that share market is totally dependent on
the risk taken by the investors in investing in shares. And in mutual
funds there is less risk as the money of investors invested in different
sectors so it can divide the risk in different portfolio adopted by
mutual funds companies.
At last I can say that money invested in this rise and fall market
it is better to invest in mutual funds for those investors who are risk
adverse and for those who are risk taker it is better for them to invest
in share market.
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BIBLIOGRAPHY
By the help of Books
Business Environment written By
Francis Cherunilam
By the Help of Manuals
Reliance Money Report of 2009 & Internet.
By the help of Other Sources
By the heads and the consultant of the Reliance Money.
By the help of Websites
1. www.rsec.co.in
2. www.google.com
3. www. Wikkipedia.com
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CONCLUSION
With the globalize economy and immense competition among
countries for faster development of their respective economies, the
significance of Insurance, Mutual Funds and Foreign investment has
taken manifold. With a buoyant vibrant and experienced stock
market, India today is looking ahead to surpass China in terms of
foreign Investment and growth prospects. Stock exchange being the
barometer of the economy plays a vital role in showcasing growth of
an economy and luring investment. While studying the role ofInsurance, Mutual fund and FIIs in Stock Market, I discussed with a
few persons who are into stock broking business. And the information
they have provided shows that though the investment and
participation of domestic investors are rising, still, they have not been
able to prove themselves to be as influential as Insurance, mutual
funds and FIIs.
Importance and the role of Insurance, Mutual funds and FIIs play in
the Indian stock market can be seen from the fact that the recent
surge in Sensex and NIFTY is attributed to the active participation of
FIIs in the Stock Market. Despite being aware of the Asian economic
crisis where FIIs role was of a major concern, the importance of
foreign capital in the development of economy can not be undermined
in anyway.
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Reliance Money Case Study
Reliance Money deploys DIGIPASS GO 3 to secure its online trading
platform, becoming the first Indian brokerage firm to provide 2-factor
authentication to all its customers.
Reliance Money, the financial solutions arm of Reliance Capital trustson VASCOs DIGIPASS GO 3 and VACMAN Controller strongauthentication to secure its online trading platform for both retail andcorporate users. The brokerage company is the first in India to
provide digital authentication devices to its entire customer baseirrespective of net worth, demonstrating its commitment in providingcustomers with a transparent, convenient and secure solutionsplatform.COMPETITIVE LANDSCAPE
Reliance Money, a Reliance Capital Company, is part of the RelianceAnil Dhirubhai Ambani Group. It is one of Indias leading and fastestgrowing private sector financial services companies, and ranks among
the top 3 private sector financial services and banking groups, interms of net worth.There are about 300 broking firms in the market with most of themhaving memberships in more than one stock exchange. Theircollective trading volume reaches over 6 million transactions per day
valuing about Rs 700 billion. Reliance Money accounts for about60,000 transactions daily valuing around Rs 15 billion on an averageand Rs 22 billion as peak.
According to industry estimates available, Indias total customer base
of demat account holders a type of banking account whereby shareare bought and sold through a stock broker - attains to approximately10 million people. Reliance Money holds a lion share of the pie with3,5 million customers. The company is steadily augmenting itscustomer base with about 25,000 new customers every month,making it the fastest growing player in the broking industry.
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RELIANCEMONEY.COM: MANAGE YOUR TRADING PORTFOLIOONLINE
As a comprehensive financial services and solution provider, RelianceMoney endeavors to change the way India transacts in financialmarkets and avails financial services.The company provides customers with expert advice with regards totheir financial planning and money matters. Through its tradingplatform RelianceMoney.com, it provides both on- and off-lineservices to its retail and corporate customers allowing them to investand manage their trading portfolio. The website offers access toequity trading, commodity trading, mutual fund investment, IPOinvestment, life & general insurances and gold coins. Additionally,
customers can perform money transfers and manage their loans andcredit card services. Almost all investment options are available underone account, offering customers single window access to almost alfinancial product and services.
TWO-FACTOR AUTHENTICATION MITIGATES RISKS
Reliance Money is very concerned about privacy and security of itscustomers data. Customers trust Reliance Money brand and the levelof security that needs to be provided to manage maintain and
enhance the image of the brand warranted investments in two factorauthentication. The pace of change in technology has us living in a
world where a lot of computing power comes packed in small sizes ataffordable rates. In such a scenario , to ward off cyber criminal, theneed for secure two factor authentication systems is therefore greaterthan ever. Static passwords are relatively easier to crack and these donot offer any protection to customers from fast growing forms ofonline fraud like phishing, keyloggers and Trojans.
With two-factor authentication, the user must provide dual means of
identification i.e. something only the user has (e.g. a physicalauthentication device) and something only the user knows (e.g. asecurity code or password).In order to mitigate risks and avoid unauthorized access to demataccounts, Reliance Money needed an adequate security solution tosafeguard its customers online trading transactions. Byimplementing a secure authentication solution, the company wanted
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to increase customer confidence in its trading platform and at thesame time attract new customers. As we are active in the financial
business domain, security was our major focus apart from providing arobust and efficient platform for our customers to trade and transacton, says Mr. G.N. Nagaraj, Senior Vice President & Chief TechnologyOfficer at Reliance Money. We chose two-factor authentication fromthe very first day of doing business. Whats more, two-factorauthentication was in perfect accordance with our corporate vision of
being unique in our offering to the customers.
VASCO OUTSMARTED COMPETITION
Reliance Money conducted a formal and comprehensive evaluation ofvarious authentication products and solutions by different vendors in
the market. VASCO clearly outsmarted the competition on three keyparameters: ease of deployment, scalability and focused support.Security is a prime demand for todays businesses especially those inthe financial domain,
DIGIPASS GO 3 INCREASES CUSTOMER CONFIDENCE INRELIANCE MONEY
DIGIPASS GO 3 is an affordable, user-friendly and efficient one-button authentication device. Moreover, the average battery lifetime
of 5 years and beyond offers a very high return of investment. Theseadvantages allow businesses to close all security gaps in userauthentication in a matter of hours. With a single push on the button,the device generates a unique one-time password which the user thenenters into the applications login screen. The dynamic password isonly valid for 32 seconds, forcing fraudsters to operate in real timeand making hacking virtually impossible. Its use is obvious andsimple, requiring virtually no training, ensuring a high useracceptance.
Furthermore, the authentication process is fast and doesnt interferewith the time sensitiveness associated with stock market fluctuations.User acceptance of security tools is a crucial factor in guaranteeingthe success of security solution implementations for secure access toremote applications and networks, according to Mr. G.N. Nagaraj.When the user is not confronted with procedures or difficult to usetools, the acceptance battle is won. DIGIPASS GO 3 allowed us to
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increase customer confidence, increase our extensive customer baseand enhance our corporate image.
TOWARDS A MOBILE TRADING PLATFORM
In the wake of recent market and technology trends, trading andtransactions are moving from being Internet-based to being mobile-
based. Reliance Money is following this trend closely and is currentlyexploring the possibilities of VASCOs DIGIPASS for Mobile toprovide a secure solution to its customers whod prefer to trade andtransact using their mobile phones. Given our pleasant experience,
we are open to deploying VASCOs products and solutions again inthe days to come,
Objective
Provide a convenient and secure authentication solution for RelianceMoneys online trading platform for corporate and retail customers.Scalability and adequate support are decisive factors.ChallengeThe security solution must provide a high level of security to protectfinancial and critical transactions, offer a great flexibility and at thesame time remain user friendly as user acceptance by RelianceMoneys multi million customer base is very important.
Solution
DIGIPASS provides both corporate and retail customers with a user-friendly, flexible and scalable solution to access their online tradingaccounts at their own convenience 24/7. Integration and roll out wereswiftly completed without difficulties. Support rendered by VASCO
was perceived as 100% satisfactory.