A PROJECT REPORTOn Demat Account

A project Report submitted In partial fulfillment of the requirements for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION(INDUSTRY INTEGRATED)

TO

MADURAI KAMARAJ UNIVERSITY,MADURAI

BY

PRAVEEN KUMAR

Reg No.A8750123

Under the guidance of

MS.Srishti Sharma

RAI BUSINESS SCHOOL

56/1,NEAR DEPOT SQUARE,BHADBHADA ROAD,BHOPAL

1

(M.P.)

PREFACE

The successful completion of this project was a unique experience for me because by visiting many place and interacting various person ,I achieved a better knowledge about sales . The experience which I gained by doing this project was essential at this turning point of my carrer this project is being submitted which content detailed analysis of the research under taken by me.

The research provides an opportunity to the student to devote his/her skills knowledge and competencies required during the technical session.

The research is on the topic “Reliance Demat Account”

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ACKNOWLEDGEMENT

I would like to express my appreciation and gratitude to various people who have shared their valuable time and made possible this project ,through their direct indirect cooperation .

My honourable Mam Mrs. Swati Tiwari (HOD) and Mrs. Srishti Sharma (Faculty)Rai business School BHOPAL ,for allowing me to work on this project and provide necessary help.

I thank my respected faculties ,dear friend & colleagues ,who help me in every possible ways , support me and encouraged me to explore new dimensions.

PRAVEENKUMAR MBA IInd Semester

Enrollment No-A8750123

3

CERTIFICATE

This to certify that PRAVEEN KUMAR ,M.B.A II Semester ,Rai Business School BHOPAL,Madurai Kamaraj University has done project on “Reliance Money “and has successfully completed his project on “Reliance Demat account “This report is completed under my on .It is only for academic purpose and is a bonafide work done by researcher .

Project Guide Mr.s Srishti Sharma Faculty Rai Business School

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DECLARATION

I Praveen Kumar do here by declare that the project work entitle on the “Reliance Demat Account ”at Bhopal is the original work done by me .

This project report presented as a partial fulfillment requirement for the degree of Master of Business administration.

PRAVEEN KUMAR MBA 2nd semester

Rai business School Bhopal

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CONTENTS

Introduction 7

Company Profile 8

Product of the Reliance Money 16

Need for the study 35

Competitors 36

Objective 43

Research Methodology 44

Data Analysis and Interpretation 53

Observation and Finding 55

Limitation 57

Bibiliography 61

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INTRODUCTION

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,

IPO’s 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.

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PROFILE OF RELIANCE MONEY

The Reliance – Anil Dhirubhai Ambani Group is among

India’s top three private sector business houses on all

major financial parameters, with a market

capitalisation of Rs.325,000 crores (US$ 81 billion), net

assets in excess of Rs.115,000 crores (US$ 29 billion),

and net worth to the tune of Rs.55,000 crores (US$ 14

billion)

Reliance Money is a comprehensive electronic

transaction platform offering a wide range of asset

classes. Its Endeavour is to change the way India

transacts in financial markets and avails financial

services. Reliance Money is a single window, enabling

you to access, amongst others in Equities, Equity &

Commodities Derivatives, Mutual Funds, IPOs, Life &

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General Insurance products, Offshore Investments,

Money Transfer, Money Changing and Credit Cards.

Reliance Money is a group company of Reliance

Capital; one of India's leading and fastest growing

private sector financial services companies, ranking

among the top 3 private sector financial services and

banking companies, in terms of net worth. Reliance

Capital Ltd. has interests in asset management, life and

general insurance, private equity and proprietary

investments, stock broking and other financial services.

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.

The company has interests in asset management and

mutual funds, life and general insurance, private equity

andproprietary investments, stock broking and other

activities in financial services

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RELIANCE ADA GROUP

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Reliance Money

Reliance Money is a group company of Reliance

Capital, one of India's leading and fastest growing

private sector financial services companies, ranking

among the top 3 private sector financial services and

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banking companies, in terms of net worth. Reliance

Capital is a part of the Reliance Anil Dhirubhai Ambani

Group.Reliance Money is a comprehensive electronic

transaction platform offering a wide range of asset

classes. Its endeavour is to change the way India

transacts in financial markets and avails financial

services.

Reliance Money is a single window, enabling you to

access, amongst others in Equities, Equity &

Commodities Derivatives, Mutual Funds, IPOs, Life &

General Insurance products, Offshore Investments,

Money Transfer, Money Changing and Credit Cards

The Reliance Anil Dhirubhai Ambani Group is one of

India's top 3 business houses, and has a market

capitalisation of over Rs.2,90,000 crore (US$ 75

billion),net worth in excess of Rs.40,000 crore (US$ 10

billion), cash flows of Rs. 9,000 crore (US$ 2.2 billion),

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net profit of Rs. 5,000 crore (US$ 1.3 billion) and zero

net debt.

Chairman's Profile:

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Regarded as one of the foremost corporate leaders of

contemporary India, Shri Anil Dhirubhai Ambani is the

chairman of all listed companies of the Reliance ADA

Group, namely, Reliance Communications, Reliance

Capital, Reliance Energy, Reliance Natural Resources

and Reliance Power.He is also Chairman of the Board

of Governors of Dhirubhai Ambani Institute of

Information and Communication Technology, Gandhi

Nagar, Gujarat.Till recently, he also held the post of

Vice Chairman and Managing Director in Reliance

Industries Limited (RIL), India's largest private sector

enterprise. Anil Dhirubhai Ambani joined Reliance in

1983 as Co-Chief Executive Officer, and was centrally

involved in every aspect of the company's management

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.

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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 Insurance is 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 2008. Reliance Capital

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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.Money has

increased its market share among private financial

companies to nearly Convenient & effective – Anytime

& anywhere financial transaction capability. Launched

inApril 2007. It provides the Flat fees system. It has 2.2

million customers in 1 year of official launch. 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.

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RELIANC MONEY PRODUCT OFFERING

1. Trading Portal (with almost negligible brokerage )

Equity Broking

Commodity Broking

Derivatives ( Futures & Options )

Offshore Investments (Contract For Differences)

D-Mat Account.

2. Financial Products

Mutual Funds

Life Insurance

o ULIP plan

o Term Plan

o Money Back Plan

General Insurance

o Vehicle/Motor Insurance

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o Health Insurance

o House insurance

IPO’s

NFOs

3. Value-Added Services

Retirement Planning

Financial Planning

Tax Saving

Children Future Planning

5.Credit Cards

4. Gold coins retailing

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.“Success is a journey, not a

distination’’

RELIANCE DEMAT ACCOUNTS

Overview of Demat Account

In India, a Demat account the abbreviation for

dematerialised account, is a type of banking account

which dematerializes paper-based physical stock shares.

The dematerialised 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

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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).

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2. Deface the share certificate(s) you want to

dematerialize by writing across Surrendered for

dematerialisation.

3. Submit the DRF & share certificate(s) to DP. DP

would forward them to the issuer / their R&T Agent .

4. After dematerialisation, your depository account with

your DP, would be credited with the dematerialised

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,

IPO’s offshore investments or prefer to invest in mutual

22

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

•It’s 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

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The table below for details.

• Its offers single –

Through reliance money’s associates, you can transact

in equity, equity and commodities derivatives, offshore

investments mutual funds, IPO’s life insurance, general

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insurance, money transfer, money changing and credit

cards, amongst others.

•Its convenient

You can access reliance money’s services through

•The internet

•Transaction kiosks

•The phone (call & transact)

•Our all – India network of associatesOn an assisted

trade (through the call centre or our network of

associates) a charge of Rs 12 per executed trade

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.

• You get your own demat account with reliance capital

at an annual fee of just Rs. 50/-.

• Its Its provides you a demat account

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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 services

At 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

• CEO’s / expert views on the economy and financial

markets

• Tools that help you plan your investments, tax,

retirement, etc. in the personal finance section

• Risk Analyser for analysis of your risk profile

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• Asset allocators to build an appropriate investment

portfolio

• Innovative use of technology for facilitating

convenient trading/investments –

kiosks (similar to ATM’s)

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Reliance Money Provide the kiosks (similar to ATM’s)

Facilities, to their customer through which the

customers can trade on available kiosks at the

particular Branch of Reliance Money. The company are

going to open these kiosks in the market as the ATM’s

of the Banks.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;

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• 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

electronically eliminating the need to correspond with

each of them separately;

• Transmission of securities is done by DP eliminating

correspondence with companies;

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• Automatic credit into demat account of shares,

arising out of bonus/split/consolidation/merger etc.

• Holding investments in equity and debt instruments

in a single account.

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

theapplication form, your photographs (with co-

applicants) and proof of identity/residence/date of birth

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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 moreFor proof of

identification and, or address self-attested facsimile

copies of PAN card, Voter’s ID, Passport, Ration card,

Driver’s license, Photo credit card, Employee ID card,

Bank attestation, latest IT returns and, or latest

Electricity/Landline phone bill are sufficient. While

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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 after the 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

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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 afteror

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.

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

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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.

Benefit

Demat account has become a necessity for all categories

of investors for the following reasons/ benefits:

SEBI has made it compulsory for trades in

almost all scrip’s to be settled in Demat

mode. Although, trades up to 500 shares

can be settled in physical form, physical

settlement is virtually not taking place for

the apprehension of bad delivery on

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account of mismatch of signatures, forgery

of signatures, fake certificates, etc.

It is a safe and convenient way to hold

securities compared to holding securities

in physical form..

No stamp duty is levied on transfer of

securities held in Demat form.

Instantaneous transfer of securities

enhances liquidity.

It eliminates delays, thefts, interceptions

and subsequent misuse of certificates.

Change of name, address, registration of

power of attorney, deletion of deceased's

name, etc. - can be effected across

companies by one single instruction to the

DP.

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Each share is a market lot for the purpose

of transactions - so no odd lot problem.

Any number of securities can be

transferred/delivered with one delivery order.

Therefore, paperwork and signing of multiple

transfer forms is done away with. It facilitates

taking advances against securities on low

margin/low interest.

NEED OF THE STUDY

The need of the study arises because of the reason

that a trainee must understand the company, its

achievements and tasks, products and services

and also to collect information about its

competitors, its products and services offered. So

that, after understanding and collecting

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information about the organization and its

competitors, a trainee will be able to work well

for the organization.

From the study I have

learned very much, about the company as well as

the strategy of the customers, which helps me a

lot at my working days.

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COMPETITORS

HDFC BANK is one of the leading Depository

Participant (DP) in the country with over 8 Lac demat

accounts.

HDFC Bank Demat services offers you a secure and

convenient way to keep track of your securities and

investments, over a period of time, without the hassle of

handling physical documents that get mutilated or lost

in transit.

HDFC BANK is Depository particpant both with –

National Securities Depositories Limited (NSDL) and

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Central Depository Services Limited (CDSL).

Features & Benefits

As opposed to the earlier form of dealing in physical

certificates with delays in transaction, holding and

trading in Demat form has the following benefits :

Settlement of Securities traded on the exchanges as well

as off market transactions.

Shorter settlements thereby enhancing liquidity.

Pledging of Securities.

Electronic credit in public issue.

Auto Credit of Rights / Bonus / Public Issues /

Dividend credit through ECS.

Auto Credit of Public Issue refunds to the bank

account.

No stamp duty on transfer of securities held in

demat form.

No concept of Market Lots.

Change of address, Signature, Dividend Mandate,

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registration of power of attorney, transmission etc. can

be effected across companies held in demat form by a

single instruction to the Depository Participant (DP).

Holding / Transaction details through Internet /

email.

Incase you need any more information or have any

queries , feedback & complaints , you may please mail

us at dphelp@hdfcbank.com

Secured & easy transaction processing

HDFC Bank Ltd provides convenient facility called

'SPEED-e' (Internet based transaction) whereby

account holder can submit delivery instructions

electronically through SPEED-e website (https://speed-

e.nsdl.com). SPEED-e offers secured means of

transaction processing eliminating preparation of

instruction slips and submission of the same across the

counter to the depository participant. The 'IDEAS'

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facility helps in viewing the current transactions and

balances (holdings) of Demat account on Internet on

real time basis.

Disclaimer:

Whatever have been stated above are in the good

interest of the Investor / Demat Applicants / holders to

provide a brief picture about the depository system.

You are requested go through the guidelines of the

depositories before taking any further action. For

detailed guidelines, you are requested to approach your

nearest HDFC Bank branch. HDFC Bank will not be

responsible for any misunderstanding / act based on the

above. Also HDFC Bank might ask for additional

information / documentation than what has been stated

above to process your application / instruction.

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ICICI DIRECT

ICICIDirect (or ICICIDirect.com) is stock trading

company of ICICI Bank. Along with stock trading and

trading in derivatives in BSE and NSE, it also provides

facility to invest in IPOs, Mutual Funds and Bonds.

Trading is available in BSE and NSE

ICICIDirect offers 3 different online trading platforms to its

customersType of Account

1. Share Trading Account

Share Trading Account by ICICIDirect is

primarily for buying and selling of stocks in BSE

and NSE.

This account allows Cash Trading, Margin

Trading,

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MarginPLUS Trading, Spot Trading, Buy Today Sell

Tomorrow and Call and Trade on phone.

ICICIDirect.com website is the primary trading

platform for this trading account. They also

provide installable application terminal based

application for high volume trader.

2. Wise Investment Account

3. Online Mutual funds investment allows investor

to invest on-line in around 19 Mutual Fund

companies. ICICI Direct offers various options

while investing in Mutual Funds like Purchase

Mutual Fund, Redemption and switch between

different schemes, Systematic Investment plans,

Systematic withdrawal plan and transferring

existing Mutual Funds in to electronic mode.

This account also provides facility to invest in

Government of India Bonds and ICICI Bank

Tax Saving Bonds.

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2.Active Trader account gives more personalized

investment options to the investors. It allows

investor to use online and offline stock trading. It

also provides with independent market expertise

and support through a dedicated Relationship

Manager from ICICI.

Active Trader also provides

commodity trading.

Brokerage and fees

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

refundable)

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Brokerage : ICICIDirect.com brokerage

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, 0.2% to 0.425% for squared off

trades and 0.4% to 0.85% on delivery

based trades.

Disadvantages of ICICIDirect

1. Getting access to ICICIDirect.com website during

market session can be frustrating.

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OBJECTIVE

To find the market potential and market penetration of Reliance Money product offerings in Bhopal.

To collect the real time information about preference level of customers using Demat account and their inclination towards various other brokerage firms e.g. Indiabulls, Sharekhan, Indiainfoline, Religare, Alankit , Unicon.

To expand the market penetration of Reliance money.

To provide pricing strategy of competitors to fight cut throat competition.

To increase the product awareness of Reliance money as single window shop for investment solutions.

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RESEARCH METHODOLOGY

Research Methodology refers to search of

knowledge .one can also define reseach methodology as

a scientific and systematic search for required

information on aspecific topic.

The word research methodology comes from the word

“advance learner ‘s dictionary meaning of research as

a careful investigation or inquiry especially through

research for new facts in my branch of knowledge for

example some author have define research methodology

as systemstized effort to gain new knowledge.

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TYPES OF RESEARCH

ANALYTICAL RESEARCH:-

It has to used facts or information already

available and analyze these to make a critical evaluation

of material.

SAMPLE SIZE :Considering the constraints it was

decided to conduct the study based on sample size of 50

people in specific age groups.

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METHODS OF DATA COLLECTION

In the project work Primary data secondary data (both)

sources of data has been used .

1. Primary sources of data:In the primary sources of

data used Observation Method & Questionnaire

method.

2. Secondary sources of data :In the secondary

sources of data is used. (Internet ,

mazazine ,books, journals)

TOOLS OF ANALYSIS

In the project work quantitative technique &

percentage method are has been used.

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RESEARCH DESIGN

For the proper analysis of data simple

quantitative technique such as percentage were

used . It help in marketing more accurate

generalization From the data available .The data

which was collected from a sample of population

was assumed to be representing entire population

was interested .Demographic factor like age,

income and educational background was used for

the classification purpose .

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DATA ANALYSIS AND INTERPRETATION

Q .1 Which bank is easily available every were ?

Company Name Percentage of respondentReliance Money 25ICICI 15HDFC 10

Interpretation:- 50% have respondent of Reliance Money, 30% have respondent of HDFC, 20% have respondent of ICICI.

52

Q.2Which banking Demat account offered you a large no. of services?

Company Name Percentage of respondentReliance money 25HDFC 10ICICI 15

INTERPRETATION : 50% have respondent of Reliance Money, 20% have respondent of HDFC, 30% have respondent of ICICI.

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Q.3 Which bank provide you abetter email facility?

Company Name Percentage of respondentReliance money 23HDFC 11ICICI 16

INTERPRETATION: 46% have respondent of Reliance Money, 22% have respondent of HDFC, 32% have respondent of ICICI.

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Q.4 Which company provide a less BROKARAGE rate ?

Company Name Percentage of respondentReliance money 21HDFC 15ICICI 14

INTERPRTETATION: 42% have respondent of Reliance Money, 30% have respondent of HDFC, 28% have respondent of ICICI.

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Q. 5 Which company provide you a large number of product and services?

Company Name Percentage of respondentReliance money 21HDFC 15ICICI 14

INTERPRETATION:- 42% have respondent of Reliance Money, 30% have respondent of HDFC, 28% have respondent of ICICI.

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Represent a pie chart

Reliance45%

HDFC28%

ICICI27%

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OBSERVATION

To study the sales and distribution management and improve the Customer Acquisition Process by analyzing the consumer behavior, response and mindset towards the product and services the company offers.

50% have respondent of Reliance Money, 30%

have respondent of HDFC, 20% have

respondent of ICICI.

50% have respondent of Reliance Money, 20%

have respondent of HDFC, 30% have

respondent of ICICI.

46% have respondent of Reliance Money, 22%

have respondent of HDFC, 32% have

respondent of ICICI.

42% have respondent of Reliance Money, 30%

have respondent of HDFC, 28% have

respondent of ICICI.

42% have respondent of Reliance Money, 30%

have respondent of HDFC, 28% have

respondent of ICICI.

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SUGGESTION

The Brand image of Reliance Money is good in market but according to customer saticfaction the company have to provide the better service.And also change the Market strategy

Limitations

• The time constraint was one of the major problems.• The study is limited to the different schemes available

under the Demat account selected. • The lack of information sources for the analysis part.

CONCLUSION

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Reliance Demat Account is better than other Demat

account . Reliance Money have good return of

investment. A good brand is always welcomed over

here people are aware of quality so they go for ready

to spend bucks of money.

At last all con be concluded by that Reliance Money

is still growing industry in India

Reliance Demat account have less brokerage rate .

It provide a security with the use of specisl type of

key .

QUESTIONNAIRE

Q .1 Which bank is easily available every were ? Reliance Money

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HDFC ICICI

Q.2Which banking Demat account offered you a large no. of services?

Reliance Money HDFC ICICI

Q.3 Which bank provide you abetter email facility?

Reliance Money HDFC ICICI

Q.4 Which company provide a less BROKARAGE rate ?

Reliance Money HDFC ICICI

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Q. 5 Which company provide you a large number of product and services?

Reliance Money HDFC ICICI

BIBLIOGRAPHY

Websites:www.reliancemoney.com

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www.hdfc.comwww.icicidirect.com

Referencebooks: 1. FINANCIAL INSTITUTIONS AND MARKETS - L.M.BHOLE2.INVESTMENT MANAGEMENT - V.K.BHALL

3.Research methodology :KOTHARI

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