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CHAPTER 1
INTRODUCTION
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1.1 INTRODUCTION
JRG is a premier brokerage house in India on a fast growth track.JRG started functioning in
the stock market in 1992. Over the years they grew up from strength to become a major player
in Indias broking service sector.
Today JRG is one of the foremost brokerage houses being a member of various
exchanges in the capital and commodity markets and the insurance sector. JRG is a member of the National Stock Exchange of India(NSE),the Bombay Stock Exchange(BSE),the National
Commodities Derivatives Exchange Ltd(NCDEX),the National Multi Commodity Exchange
of India ltd(NMCEIL),the Multi Commodity Exchange of India Ltd(MCX) and the Indian
Pepper and Spices Trades Association(IPSTA). JRG is a full-fledged depository participant of
the National Securities Depository Services (India).
JRG is also one of Southern Indias leading insurance Brokers. JRG have
become a financial super market in recent years. JRG provide our clients with full expertise to
play in the market with confidence. They avail full-fledged trading facilities and services
through our nation-wide offices.
To help its clients better, JRG have located their branches in major towns
and placed highly qualified and experienced financial experts to manage them. A team of
dynamic finance professionals with decades of experience leads them. These professionals
share a common vision not only to transform the company into a highly professional
organization, but also to make their clients earn the maximum from their hard-earned money.
In the first issue of equity shares of JRG Securities Limited, there was no
formal market for the securities of the company. The face value of share is Rs. 10 per share
and the issue price is four times of the face value. The company has received approval from
BSE, for listing of the Equity shares being issued in terms of the prospectus .
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1.2 SCOPE OF THE STUDY
The study at this organization can provide the student an exposure to thecurrent status of the organization. It will avail him with the information on the various levels
of activities of the organization and their structural formation. The student can understand the
functions of any individual department along with realizing and analyzing the hurdles in the
functioning of organization as a whole. The study also allows him to analyze the strength,
weakness, opportunities and threats of the organization in its field of its products and services.
The study was conducted in JRG Securities Limited, during the months of May and June 2011
as a part of curriculum for the MBA programme.
1.3 OBJECTIVES OF THE STUDY
Primary Objective
To study the overall structure and functioning of JRG Securities Ltd.
Other objectives
1. To understand the performance of different departments
2. To understand the quality assurance of the organization
3. To understand financial position of the organization
4. To get an organizational exposure
5. To understand the market position of the organization.
REASON FOR SELECTING THE COMPANY
The reason for selecting JRG securities is mainly because of its reputation
for being one of the most leading share broking companies in India. JRG is a premier
brokerage house in India on a fast growth track. Over the years, they grew up from strength to
become a major player in Indias broking service sector.
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1.4 STUDY PLAN
METHODOLOGY
For the organizational study, I have selected JRG Securities Ltd and I have spent42 days for
my internship. For the present analysis and study, I have collected both primary and secondary
data. Primary data was collected mainly through interviews with the officials of the JRG firm
and for the secondary data; major sources were official records of the company and other
journals. During my internship I made a detailed study regarding the functioning of the various
departments of the company. Final analysis and assessment was done in terms of SWOTanalysis.
1.5 SOURCES OF DATA
PRIMARY DATA
The primary data was collected through close observation and direct interviewing of the
personnel of different departments of the firm. I also interviewed the staff at the branch office
of Thiruvalla to collect their opinion.
SECONDARY DATA
Information from records which are kept at the Head Office of the JRG Securities
Ltd, journals and brochures and the information from JRGs corporate web site formed the
secondary data of the study.
1.6 LIMITATIONS OF THE STUDY:
1. Lack of time to conduct a very detailed study.
2. Lack of proper co operation of some of the executives.
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CHAPTER SCHEME
This organizational study report is presented in seven chapters.
Chapter 1
The first chapter gives a brief introduction about the company. It also includes the
objective of the study, reason for selecting the JRG Securities Ltd, study plan, sources of the
data, and the chapter scheme.
Chapter 2
The second chapter contains the detailed industrial profile (Indian scenario, State
scenario)
Chapter 3
The third chapter contains company profile, objectives of the company, history and
philosophy, organizational structure, different phases of development, future plans and
procedures, financial performance .
Chapter 4
The fourth chapter contains the departmental details, structure of each department,
functions of each department, responsibilities of key personnels, departmental future plans.
Chapter 5
Chapter five contains SWOT Analysis, observations and findings and suggestions.
Chapter 6
Chapter six contains the findings & suggestions of the study.
Chapter 7
Chapter seven contains the conclusion.
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CHAPTER 2
INDUSTRIAL PROFILE
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2.1 INTRODUCTION
Stock markets refer to a market place where investors can buy and sell stocks.The price at which each buying and selling transaction takes is determined by the market
forces (i.e. demand and supply for a particular stock).
The purpose of stock exchange is to facilitate the exchange of securities
between buyers and sellers, thus providing a market place. Capital can be saved and channeled
to the most profitable investment projects and that both households and firms get help in
handling financial uncertainty and risk as well as possibilities of spreading consumption
overtime.
Financial markets constitute an important part the total infrastructure for every
society that has passed the stages of largely domestic economies. The financial system
performs three main tasks: first, it handles transfer of funds; second, it channels savings to
investment with good return for future consumption; and third, it reduces economic risks in
relation to the players targeted returns.
HISTORY OF STOCK EXCHANGES
The history of stock exchanges is believed to date back to the 11th century.
During this time, trade associations were set up by Jewish and Muslim merchants. Credit and
payment methods were developed by these merchants to conduct systematized business. This
was important to the history of stock market, since it led to further developments in financing
and marketing of stocks. The first institutional trading was established in Bruges, Belgium in1309. From the 13th to the 16th century, stock exchange established in the history of stock
market. The first company to market and bonds was the Dutch East India Company.
When the first brokers are believed to have developed, trading in debt and
government securities. Unofficial share market existed across Europe through the 1600s,
where brokers would meet outside or in coffee houses to make trades. The Amsterdam stock
exchange when it began trading shares of the Dutch east India Company shares ever issued.
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By the early 1700s there were fully operational stock exchanges in France and
England, and America followed in the later part of the century. Share exchanges become an
important way for companies to raise capital for investment, while also offering investors the
opportunity to share in company profits. The early days of the stock exchange experienced
many scandals and share crashes, regulation and almost anyone was allowed to participate in
the exchange.
Today stock exchanges are organized marketplaces, either corporation or mutual
organization, where members of the organization gather to trade company stock and other
securities. The members may act either as agents for their customers, or as principals for their
own accounts.
Stock exchange also facilitate for the issue and redemption of securities and
other financial instruments including the payments of income and dividends. The record
keeping is central but trade is linked to such physical place because modern markets are
computerized. The trade on exchange is only by members.
2.2 INDIAN SCENARIO
The stock exchanges in India were formed only after the Mughals and after the Indian
war of independence. India has 23 stock exchanges that are hubs of financial activities; the
Indian stock market is the one of the oldest in Asia. It history dates back to nearly two
centuries. The earlier records of security dwelling in India are merged and obscure. Stock
exchanges provide an organized market for transaction in shares and other securities. The
Bombay stock exchange (BSE) and National Stock Exchange (NSE) are the main stock
exchanges in India.
The Bombay Stock Exchange and National Stock Exchange together accounts for
nearly 72 % of all capital market activity in India. In the other major exchanges are Delhi and
Ahmedabad stock exchange. The remaining exchanges accounts for only 4% of Indias capital
market activity. The stock exchanges in the country can be divided into 4 zones. They are the
East zone, the West zone, the North zone and the South zone. The North zones have five stock
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exchanges. The east zone has three stock exchanges; west and south have six stock exchanges
each.
Functions and services of stock exchanges
1) Liquidity and marketability of securities
2) Maintains active trading
3) Fixation of prices
4) Ensures safe and fair dealing.
5) Aid in financing the industry.
6) Dissemination of information
7) Self regulation organization
8) Miscellaneous services
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Regional Stock Exchanges
North zone East zone West zone South zoneKanpur
Ludhiana
New Delhi
Jaipur
Meerut
Bhubaneswar
Calcutta
Guwahati
Ahmadabad
Vadodara
Indore
Mumbai
Pune
Rajkot
Bangalore
Chennai
Kochi
Coimbatore
Hyderabad
Mangalore
NSE-National Stock Exchange
The National Stock Exchange of India (NSE) is one of the largest and most advanced
stock markets in India. The NSE is the worlds third largest stock exchange in terms of
transactions. The NSE VSAT has 2791 terminals that cover 334 cities across India.
In the fast growing Indian financial market there are 23 stock exchanges trading
securities. The national stock exchange (NSE) is Indias leading stock exchange covering
various cities and towns across the country. The National Stock Exchange of India (NSE)
situated in Mumbai is the largest and most advanced exchange with 1016 companies and 726
trading members.
On its recognition as a stock exchange under the Securities Contracts (Regulation)
Act, 1956 in April 1993, NSE commenced operations in the Wholesale Debt Market (WDM)
segment in June 1994. The Capital Market (Equities) segment commenced operations in
November 1994 and operations in Derivatives segment commenced in June.
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The NSE is owned by the group of leading financial institutions such Indian bank or
Life Insurance Corporation of India (LIC). The ownership as well as the management does not
have a right to trade on the exchange. Only qualified traders can be involved in the security
trading.
The NSE uses the satellite communication system the system that connects traders
from 345 Indian cities. The advanced technologies enable up to 6 million trades to be operated
daily on the NSE trading platform. NSE conducts online examination and awards certification,
under its programmes of NSEs certification in Financial Markets (NCFM), currently it is
available in 9 models, covering different sectors of financial and capital markets. Branches of
the NSE are located throughout India.
Bombay Stock Exchange
BSE ltd is the oldest stock exchange in Asia with a rich heritage popularly known as
BSE, as it was established as the native share and stock brokers association in 1875. It is
the first stock exchange in the country to obtain permanent recognition in 1956 from the Govt.
of India under the securities contracts act, 1956, the exchanges pivotal and pre-eminent role inthe development of the Indian capital market is widely recognized.
Earlier an association of Person (AOP), the exchange is mow a
demodulated and corporative entity incorporated under the provisions of the companies act,
1956, pursuant to the BSE by the Securities and Exchange Board of India (SEBI).
In terms of organization structure the board formulates larger policy and
exercises overall control. The committees constituted by the board are board based. The day today operations of the exchange are managed by the managing director and a management team
of professionals. The exchange provides an efficient and transparent market for trading in
equity, debt instruments and derivatives. The BSEs on line trading system (BOLT) is a
proprietary system of the exchange and is BS 7799-2-2002 certified. The surveillance, clearing
and settlement function of the exchange are ISO 9001:2000 certified.
Today, BSE is the worlds No 1 exchange in terms of the number of listed
companies and the worlds 5th in transaction numbers.
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STOCK BROKING INSTITUTIONS IN INDIA
HDFC securities Ltd.
Online broking house with a dominant position in both institutional and retail broking
offers online trading for residents and NRIs, cash-n-carry for NSE and BSE, day trading
futures & options on the NSE, telephone- based broking, etc.
ICICI direct.com
Stock broking arm of ICICI Bank; member of the capital market segment of both theNSE and the BSE, and the derivatives market segment of the NSE; options: cash trading,
margin trading, margin plus trading, spot trading, etc
Karvy Consultants Ltd.
Financial services company based in Hyderabad; activities include stock broking,
distribution of financial products, commodities broking etc; is a depository participant; claims
to be among the top five in all its businesses; site has tools for investors.
Prabhudas Lilladher
Brokerage house based in Worli, Mumbai, with branches in Gujarat, Andhra Pradesh,
Chhattisgarh, Karnataka, Kerala, MP etc; services: equity broking, derivatives, mutual funds,
portfolio advisory, fixed income, IPO services, depository services etc
Share Khan
Online share trading portal set up by S.S. Kantilal Ishwarlal Securities Pvt ltd a
member of the capital and derivative segment of the BSE and NSE; also offers commodity
trading services on the MCX and NCDEX, sells mutual funds.
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Anand Rathi
Full service securities firm based in Mumbai; its financial and advisory services
included wealth management, investment banking, corporative advisory, brokerage and
distribution of equities, commodities, mutual funds and insurance.
JM Financial Ltd
Firm in Mumbai engaged in the business if stock broking and securities; areas of
interest: investment banking, institutional and retail banking, private wealth management,
fixed income broking, asset management, commodities broking and private equities
Kotak Securities Ltd
Leading stock broking firm with `195 branches in 231 cities, deals in equities,
derivative, IPOs, mutual funds, insurance, portfolio management, research(company, sector,
economy) etc; offers online trading, IPO and mutual fund investments.
Motilal Oswal Securities Ltd.
Group in Mumbai offering diversified financial services; consists of 4 companies:
Motilal Oswal investment Advisors Pvt. Ltd, Motilal Oswal Commodities Broker (p).Ltd,
Motilal Oswal Venture Capital advisors Pvt Ltd and Motilal Oswal securities Ltd.
Ambit Holdings
Network of their companies (Ambit corporate finance, ambit capital) engaged invarious aspects of investment banking; private equity and consulting business; based in
Mumbai.
India bulls
Financial services and real estate company with a presence in over 124 cities;
activities: stock broking, consumer finance, mortgage loans and real estate developments; site
offers online trading; headquartered in Mumbai and Delhi.
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Money pore
Online stocking site run by anagram stock broking, part of the Lalbhai Group; sitecarries trading recommendations, stock watch, inform on companies and derivatives, etc
Parag Parikh Financial Advisory Services Ltd.
Investment advisory firm based in Mumbai; has membership of the equity, wholesale
debt and derivatives segment of the NSE; services include institutional and retail broking,
mutual funds, portfolio and wealth management, IPOs & NFOs, etc
RBS Broking India
Website operated by RBS Equities (India) Limited, site permits online trading in BSE
and NSE stocks and derivatives, has research information on various companies, prices and
charts etc.
Destimoney
Business group whose activities include investment advisory, wealth management &
loans, securities (member of NSE, BSE), portfolio management, research & analysis; has 137
branches in 72 cities.
5paisa.com
Wholly owned subsidiary of India Infoline ltd, a leading finance & investment portal;
listed on the BSE & NSE and regulated by SEBI; offers equities trading, derivatives trading,mutual funds, insurance, etc.
Edelweiss
Financial services Company based in Mumbai; business includes investment banking,
institutional equities, securities broking, distribution of financial products & asset
management.
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Geojit BNP Paribas
Stock broking company whose services include online trading, future & options,depository participant, commodity futures trading, portfolio management services, distribution
of financial instruments, research etc.
Khandwala Securities Ltd
Investment banking & advisory services company based in Mumbai; service include
investment banking, portfolio management services, corporate finance, research(macro,
micro), market intermediation etc
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2.3 STATE SCENARIO
Cochin Stock Exchange
The Cochin Stock Exchange Ltd (CSE) is a capital market in Kochi, Kerala in India.
Incorporated in 1978 it has now over 350 Indian companies listed. CSBL a wholly owned
subsidiary of CSE is a member of NSE and BSE.
Facility
Computerized trading was introduced in 1997. The major back office system softwares
used are NESS and BOSS respectively for NSE and BSE. The trading software used in CSBL
is multex . Traders are provided Meta stock and ERS software, trading terminals and optical
fibre connections. DP holdings are maintained by Demat services like CDSL. The new
millennium saw the stock exchange building being shifted from the old structure in downtown
Cochin to a brand new building in the Kaloor area in northern Kochi
Trading
Trading hours historically used to begin late in the afternoon enabling access to tradersfrom other regions of state. Base minimum capital required to be maintained is Rs. 2 lakhs.
Demutualization scheme
The securities scam of the early nineties led the SEBI regulations on stock exchanges
requires separation of ownership and trading rights and made mandatory for majority
ownership rests with public, those without any trading rights.
Cochin Stock Brokers Ltd
Cochin stock brokers limited (CSBL) a subsidiary of CSE is a corporate member of the
National Stock Exchange and Bombay Stock Exchange enabling CSBL users trading facilities
in these listings.
CSE Institute
CSE institute provides training program on stock market for investors.
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Economic impact
The industrial revolution did not happen in Kerala unlike most other Indian states. As a resultmost Keralites do not invest in manufacturing entities. The reasons for the failure in attracting
manufacturing industries are not certain, but it is mainly due to a combination of political
forces and the lack of resources in a small state with a large population density. The stock
exchange therefore provides opportunity for investors in the region to be part of growth in
spite of local problems.
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CHAPTER 3
COMPANY PROFILE
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3) Mr. Munish Dayal - Director
Mr. Munish Dayal, Director, was appointed in the Board on 30.10.2007. He is an MBA
graduate from Delhi University and Faculty of Management studies, New Delhi. Has 16 years
of experience in City Bank was in establishing and building businesses in the Financial
Services industry in functions ranging from retail banking, cash management, asset based
finance to custody, culminating as the Head of Small Business and Mass Markets group for
Asia pacific. He was also one of the early members of the senior management team at Yes
Bank - a recently established bank - and was instrumental in scaling up the SME and Mid
Market product portfolio of the bank as a key profit center.
4) Mr. Pradeep Mallick - Director
Mr. Pradeep Mallick, Director, was appointed in the Board on 29.04.2009. He is a
Graduate in Electrical Engineering from IIT, Madras and received a Diploma in Business
Management from UK. He is a 'Chartered Engineer', Fellow of the institution of Engineering
& Technology (FIET), London. He was honoured by IIT Madras with the distinguished
Alumnum Award. He worked almost 22 years with Companies in the field of power
Distribution & Power Transmission, Primarily in managing large turnkey projects in India,
Gulf, West Asia and North Africa, Western Region and past presidents of Bombay Chamber
of Commerce & industry. He has also served the institution of Engineering & Technology
(IET), London, in various capacities on international Board, Members Board, International
Strategy Working Party and Council.
5) Mr. B R Menon- Director
Mr. B R Menon, Director, was appointed as a Director on 27.05.2008. He is a graduate
in Commerce from the Government Law College. Bombay. He has almost 25 years experience
at the Bar and has appeared in several important cases before the supreme court of India and
various High Courts and also appeared in Matters before the Courts in the United Kingdom
and Australia besides the ICC Tribunal for arbitration.
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6) Mr. Regi Jacob Director
Mr. Regi Jacob is the Director and co-founder of the company. He has several years of
professional experience in the securities market. He is the unfeigned inspiration of the group.
He is a post Graduate in Literature as well as in journalism and Mass Communication. He has
been in this field for a period of Seventeen years and his knowledge is the driving force in the
progression of the Company. Under his leader ship JRG started its operation in the financial
market in 1992, as a brokerage house to offer service to the investing public of the country,
especially to the people in south India. He served as Managing Director till 29.04.2009.
7) Mr. Gaurav Vivek Soni - Managing Director
Mr. Gaurav Vivek Soni, Managing Director, was appointed on 29.04.2009. He is a
Commerce Graduate and ACA with over 17 years experience both in India & overseas in the
areas of Finance, Accounts, Auditing and Commercial Operations. He has 2 years of
experience in the capital market. He joined the organization in June 2008 as chief Financial
Officer and was promoted as Managing Director.
District : Ernakulum
Country : India
Type of organization : Public Limited Company
Nature of business : Share Broking
Number of employees : above 1000 (keep fluctuating)
Branches : Above 500 (keep fluctuating)
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Subsidiaries : JRG Wealth Management Limited
Registered Office : Velliappallil Buildings, T.B. Road,
Pala -686575 Tel: (04822) 210547,
Fax; (04822) 215809
Email: [email protected]
Corporate Office : JRG House, Ashoka Road,
Kochi682017
Tel: (0484) 2409900; Fax: (0484) 2409922 Email:
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3.2 OBJECTIVE OF THE COMPANY
JRG securities Limited was born out of a vision to explore the immense investmentopportunities in the Indian financial market and thus to benefit the investors. The company is
built on the pillars of financial expertise, professionalism, exemplary ethics and a commitment
to provide ultimate customer satisfaction.
JRG constantly strives to meet the changing market needs and trends. JRG began as a
sub brokerage house in the year 1992.
JRG cater efficiently to the diverse and complex needs of over 200,000 customers,most of whom are individual traders, institutions and money managers. The vision of the JRG
Group is to be a Financial Super Market. It aims to provide all types of financial services to its
clients at one place to save them from going from place to place to meet their investment
needs.
3.3 HISTORY & PHILOSOPHY
JRG Securities Limited. Is head quarter in Kochi, The company took life as a
partnership firm called JRG Associates, started by Mr. Regi Jacob, Mr. Giby Mathew and Mr.
Jiji Antony in 1992. The firm was converted into a private limited company, JRG Associates
Pvt. Ltd, In 1994 with the inclusion of a few of their close relatives and associates on the
board as financial investors, and became a member of the Cochin stock exchange. The
company initially focused on developing a client base in Kerala and Tamil Nadu and
established several operation centers across these states.
In 1999, the company became a member of the NSE and in the following years, began
to cultivate clients from Karnataka, Andhra Pradesh and Maharashtra. As the business
developed, JRG intensified its operational reach in the southern states.
In August 2003, the company changed its name to JRG Securities Pvt. Ltd. in order to
accurately reflect the business focus of the company. The following month, i.e. September
2003, the company was converted into a public limited company and over the next two years
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Begin operations in commodities and insurance broking and distribution of financial products.
In March 2005, we became a member of the BSE.
3.4 DIFFERENT PHASES OF DEVELOPMENT
1992 Started secondary Stock Market Operations
1994 Became a member of the Cochin stock exchange Ltd.
1995 Sub Broker of National Stock Exchange Ltd.
1999 Became a member of inter Connected Stock Exchange Ltd.
1999 Became a member of the national stock exchange ltd.
2000 Depository Participant of the National Securities Depository Ltd
2000 became a sub-Broker of Bombay stock exchange
2000 Derivatives Trading Membership
2000 Developed Branches across Kerala
2001 Established Branch in Bangalore,
2003 Established Branch at Chennai
2005 Became a member of the Bombay stock exchange Ltd.
2005 Started operations in Maharashtra, UP, AP, Delhi & Punjab
PRODUCT PROFILE
JRG Securities Ltd is a big player in financial market services industry. The various
products that are offered by the company are the following:
Equity
Trading in equities with JRG brings you the very best of the Technology, Research Access and
Ease. It empowers you to invest in equities by providing an anchor to guide you as to when,
where and how to invest.
We have some key focus areas which we work on incessantly in order to bring you a
superior trading experience. These focus areas - based on our objective of customer centricityinclude the following:
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Best-in-class technology: investing in cutting-edge technology
Powerful Research & Analysis: Experienced and trustworthy experts
Transparency and compliance: Unswerving adherence to the standards
Call & Trade: call on a local number & trade on the telephone
Customer Service: most dynamic and motivated team on the ground
Reach & Delivery Model: Both Offline/Online and upgrading service delivery
channels.
Commodity
Commodities Derivative market has emerged as a new avenue for investors to create
prosperity. Today, Commodities have evolved as the next best option after stocks and bonds
for diversifying the portfolio. Based on the fundamentals of demand and supply, speculators
find potential to earn returns.
Commodity futures serves as an ideal hedging platform for farmers, physical traders
and corporate who are exposed to price risk arising out of volatility in commodity prices. It
also becomes an investment avenue for retail customers by providing several products with
different and non-correlated cycles.
Currency Derivatives
The global increase in trade and foreign investments has led to inter-connection of
many national economies leading to greater need for a stronger foreign exchange risk
management mechanism. This and the resulting fluctuations in exchange rates, has created a
huge international market for Forex rendering investors another exciting avenue for trading.
The Forex market offers unmatched potential for profitable trading in any market condition or
any stage of the business cycle. The growth of our FX futures market has manifold with the
participation of Speculators, investors and arbitragers and emerged as an alternative
investment vehicle for Indian investors.
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JRG as a leading currency brokerage house in the country, understand your needs and
had designed our products to meet your requirements. The corporate desk provides customized
FX hedging strategies for large corporate to SME's. For the investing and trading community
we provide various linear and non-linear trading strategies on domestic pairs, global majors
such as EURUSD, GBPUSD & USDJPY and major crosses such as EURGBP, EURJPY &
GBPJPY.
JRG is a member of the two major currency exchanges - MCX-SX and NSE. You can
execute your trade through our dealers from designated branches, centralized dealing terminal
or through our online trading platform I -Trade.
Margin finance
It is essentially like an overdraft facility for making further invests in the stock market
against the stocks already in hand instead of investing additional cash. It entitles the client to
borrow funds which can then be used to trade in shares and thereby take more positions. The
client needs to provide initial margin by way of shares take or cash as security and maintain
the same to be reasonably secured against the market trend.
JRG Edge
Borrowing available against extensive list of shares Leverage up to 2 times No processing fees Simplified documentation & Quick loan processing
Option to take delivery beyond the ordinary trade cycles Attractive interest rates.
Loan against Shares
A loan against securities offers you instant liquidity. LAS allows him to borrow funds
against collateral which can then be used for any purpose he or she desires-personal needs,
meeting contingencies etc. some time when we are bullish about against shares (LAS) helps to
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JRG Edge:
Will get the gold in Dematerialized or in physical form
Purity certified gold from the Exchange
Attractive interest rate (lesser than personal loan)
Initial investment is only 20%, easy documentation.
Insurance Broking
JRG Insurance Broking is one of India's leading Insurance Brokers providing
customers a wide range of insurance products spanning from life and General Insurance. JRG
provide specific value propositions for different segments of their customers- Retail, NRIs,
High investment customers and corporate.
Retail Customer:
JRG provide end to end services right from the time we get in touch with the customer,
through his policy purchase and purchase phase as well. The customer can choose from a wide
variety of products- term cover, endowment plans, education plans, retirement planes,
investment plans, health plans, Motor insurance etc.
NRIs and High Investment Customers:
JRG bring to the customers exclusively tailored products from a number of insurance
companies to meet specific needs and ensure a hassle-free process of policy documentation,issuance and renewal.
Corporate:
JRG provides Corporate General insurance to secure your business against all risks. It
includes a wide range of covers ranging from Property, Burglary, Marine, Fire, Manufacturing
Unit, Office insurance, Group Mediclaim, Personal accident cover, Machinery
Breakdown/Electrical Equipment Cover and more.
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IPO
An investor can garner estimable returns by investing early in a company through anInitial Public Offering (IPO). JRG help to invest in the primary market through the IPO route
in an effortless way.
For various reasons, JRG often miss the opportunity of subscribing to an IPO. It can
either because they could not procure the application form or JRG did not have time to fill up
the form and submit it. The most important benefit offered by JRG Securities Ltd is the
convenience in submission of applications from anywhere breaking the limitations of time and
geography - either through the wide network of our Branches and Franchisees or through
Online IPO facility. We offer IPO facility to our registered training customers at absolutely no
cost.
We also provide you with latest news about the upcoming and current IPOs including
their listing dates. Our analysts also offer investment advice based on thorough fundamental
research of the currently open IPO's.
To use the ONLINE IPO feature, the customer needs to fulfill the following criteria:
Must be registered for Trading with JRG securities Ltd,
Must have a Demat account with JRG Securities Ltd.
Must have signed the POA agreement for Online IPOs'
Must have access to Net Banking facility with those banks with which JRG is
providing Payment Gateways. Currently, they are providing payment gateways for
HDFC, ICICI, Axis, Federal, and Corporation Banks.
Mutual Fund
Investing in a Mutual fund is an excellent way of diversifying risk as well as portfolio.
JRG Presents its Mutual fund services that strive to meet all your mutual fund investment
needs. JRG have a wide spectrum of investment schemes from all top mutual fund houses.
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With JRG, the investor get to choose the mutual fund schemes that best suit his
requirements from over 700 schemes offered by more than 33 different Asset Management
Companies.JRG also provides recommendations based on in-depth research, mutual fund
performance and mutual fund rating to help meet your investment goals.
The JRG Edge :
Online and offline transaction facility Schemes from all major fund houses Latest MF news and Fund Manager views Latest New Fund Offers (NFO) Information and tools to help you select the right scheme Dedicated Customer Help desk 24x 7 Web-enabled Client Back offices
SERVICES
Technology
Risk
Monitoring
BusinessDevelopment
Supply
Research/Advisory Desk
Services
Marginfunding
CentralizedDealing Desk
AssociateService Desk
CustomerService Desk
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Customer Centric Research/Advisory Desk
By providing customer centric research, JRG tries to ensure that the customers have anupper hand in the market. They have a team of highly qualified and experienced research
analysts who works round the clock to provide customized services to their customers.
Customers can be classified into intraday traders, hedgers, delivery based clients, arbitrageurs
and others who try to take advantage of the market swings. JRG's research products include;
Fundamental Reports
Technical reports
Short Term & long Term reports
Daily reports
Research tips via SMS
JRG provides the facility which enables their partners to chat with the research analysts at any
time of the day.
Centralized Dealing Desk open till Midnight
JRG has a team of highly qualified and experienced dealers who serve clients from the
Centralized Dealing Desk. Partners who have commodities trading can especially benefit from
this as they close office after equity market hours, assured that the evening trading would be
handled by the Centralized desk. The customers would be serviced from the centralized desk
just the way our partners would at no additional cost to the partner.
Associate Service Desk just a ring away
A partner can always be assured that the Associate Service Desk would be there at all
times. JRG has a team of associate service executives who work day in and day out to ensure
that their associates are taken care of. For any queries that an associate may have, or any
support that they require, the Associate Service Desk would ensure that it is attended to.
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Dedicated Customer Service desk
The customer service desk is operated by team of well-qualified customer serviceexecutives who have trained on every aspect of trading. JRG's executives access to the back
office database resolves customers queries.
Account Opening
Depository operations
Billing
Risk management
Technology
Margin funding- loans against any Warehouse certified commodities
With the margin funding product, they make it easier for people to avail of loans. If a
trader or customer has commodities in the warehouse, then against the warehouse receipt that
he has, JRG can provide him with loans. These loans are at the most competitive rates.
Margin funding is a service that is rarely available elsewhere. Being a partner of JRG,
one would have exclusive access to such a value added service.
Continuous support to build your Business
At JRG, they always stand based on their partners. To ensure that partners always have
a thriving business; JRG provides business development support at all stages to a team of dedicated business development managers who work day and night.
Only to ensure the success of their partners, JRG provide the partners with reports that
would help them to analyze better and build the business.
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Other support for business development is given in terms of;
Organizing investor shows
Conducting joint meeting for acquiring customers
Providing marketing materials
Recruiting manpower
Organizing Regular Sales Contests.
Supremely Efficient Real Time Risk Management system
The superior risk management system ensures that the risk is always monitored and is
under control. The risk control system stands to benefit both their customers, partners and
safeguards them against undue risk as has been testified by many.
Best-in-class technology
Technology, which is the backbone for any broking house is the focal point of most of their investments. JRG Securities have completely automated its services, minimizing work
duplication and human intervention. Today, they have cutting edge trading servers, fastest
storage backbone, robust and secure back office systems. They have,
A dedicated it helpdesk
99.7% Uptime
Multiple Connectivity - VSAT, VPN, MPLS
Exclusive support for training is provided to all partners and their
employees through
Regular training programs and workshop for dealers
Support for getting dealers certified
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Unparalleled state-of-the-art back-office Operations
Online fund Transfer with several banks
Pan India Funds Payout within 24 hours
Client back office login for trading and depository
Access to Back office software
Depository services
Enjoy the dual benefits of trading and depository services under one roof and
experience efficient, risk-free and prompt depository service. JRG is a depository participant
with the National Securities Depository Limited and Central Depository Services (India)
Limited for trading and settlement of dematerialized shares. JRG performs clearing services
for all securities transactions through its accounts. JRG investors can open DEMAT account
for holding securities, mutual funds and commodities.
JRG offers depository services to create a seamless transaction platform to executetrades through JRG Securities and settle these transactions through the JRG Depository
Services. JRG Depository Services is part of their value added services for their clients that
create multiple interfaces with the client and provide for a solution that takes care of all your
needs.
JRG also offer various tariff plans to suite each and every category of Traders,
Investors, HNIs, Corporate, NRIs, etc.
JRG Edge:
Automated pay-in facility
Access information -Anytime, anywhere
Quarterly Demat Statements with valuation
View Demat A/C Statement online
Competitive transaction charges
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Exclusive benefits for customers
Reduced paper work Speedy settlement process resulting in increased liquidity of your securities No risk of loss, wrong transfer, mutilation or theft of share certificates Hassle free automated pay-in of your sell obligation with no need for physical
instruction
Instant disbursement of non-cash benefits like Bonus and Rights Efficient pledge mechanism
Personalized services of trained Help desk No charge for extra Transaction statement and Holding statement Combined monthly Bill-cum-Transaction-cum-Holding-cum-Ledger' statement of your
investments.
3.6 FUTURE PLAN AND PROCEDURES
JRG Securities is looking to expand its network up to 500 branches before 2014. Presently
JRG Securities is having 330 branches all over India.
JRG Securities looking to issue Shares for its expansion purposes in 2012.
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DEPARTMENTS
1. Human Resource Department
2. Depository Department
3. Accounting & Finance Department
4. Billing and Clearing Department
5. Marketing Department
6. Technical Department
7. Compliance Department
8. Risk management Department
9. Administration Department
10. Internet Trading Department
11. Research Department
12. Surveillance Department
13. Insurance Broking Department.
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4.1 HUMAN RESOURCE DEPARTMENT
4.1.1 STRUCTURE OF HR DEPARTMENT
JRG recognizes the importance and contribution of human resource for their growthand development and are committed to the development of its people. A well-motivated
workforce that performs up to its potential can make difference between a successful
organization and the one that aspires to be. Well aware of this, JRG conducive work
environment where recognition and reward are ensured for the deserving at the right times. By
leveraging the human forces effectively and efficiently, JRG enjoys competitive advantage.
Objectives
To recruit quality personnel
To uplift the morale of employees
To provide necessary training etc.
AVP- HR
ASST. MANAGER
SR. OFFICER
OFFICER
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FUNCTIONS
Recruitment
A fresh candidate will be appointed on probation for a period of 3 months from the
date of joining. The period of probation may be decreased or increased at the discretion of the
competent authority.
Payroll maintenance
Maintenance of employees details like salary incentives, bonus, and performancerecords.
Target settings
The performance appraisal of an employee take place twice every year where in the
individual discuss with his superior about the targets, job plan, areas of training and
development.
Criteria for performance evaluation
Individual task outcomes
Process
Traits and behavior
HRD
Maintain good relationship with the employees
Identifying the demotivated employees and providing the necessary motivation.
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In determining employees eligibility for promotion or transfer the company shall look into, the
following criteria;
Experience
Past performance
Ability to perform the essential function of the job
Educational background.
Ability and qualification to perform competently.
Attendance record over the last 12 months.
Training and Development
Based on the performance appraisal each year the training need analysis is done by the
HR department. The needs are addressed by conducting soft skills and functional training to
enhance the efficiency level of individuals. However every employee is entitled to undergo a
training of 40 hours every year which includes various fields. There is also a JRG personalizedwebsite people plus wherein each employee can login and can avail the data of the company.
Referral policy
In JRG all employees act as Brand Ambassadors of the organization who plays a vital
role by a spreading positive word of mouth about the company, so that the company can invest
in good talent and in turn they can contribute to the organization.
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4.2 DEPOSITORY DEPARTMENT
The depository holds securities of inventors in electronic form and interacts with theinvestors through its depository participants. Main objective of the depository system is to
reduce risk by minimizing the paper work involved in trading, settings and transferring. A
leading member of NSDL (National Securities Depository Limited) and CDSL (Central
Depository Services (India) Limited), JRG offers a full pattern of depository services;
Demat Account facility
Dematerialization
Transfer of securities
Pledge
Consolidation
For starters, one has to open a Demat account. Then they can convert all other physical
certificate into electronic data, a process called Demat.
This will be kept in accounts safely, similar like your money in a bank account.
Whenever you want, convert this into physical form- the real share certificate, this process is
called Dematerialization or Demat. JRG, along with NSDL offering a secured internet based
ideas (internet based Demat Account Statement) facility for its clients ideas allows you to
view ISIN-wise position/transactions for scrip. Data on ideas is update on an online basis with
a delay of just a maximum 30 minutes. This facility allows Demat account, anywhere in the
world. This facility is open for all the Demat account holders of JRG Depository. The clientscan even transfer their securities from one account to another, with the securities available in
the account the clients can even avail for loan by pledging the securities. The clients even
reduce the number of Demat account owned by them or convert to Demat account into one
single account through consolidation.
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4.3 ACCOUNTING / FINANCE DEPARTMENT
The finance department has been internal divided into five sections. This division hasbeen done in recent times due to the expansion of the business. The five sections are:
Cash management or exchange and banking
Statutory matters
Associates
Internal audit
Business planning and analysis
Cash management or exchange and banking
This section deals with the pay in and pay out that is the cash inflow and cash out flow
in JRG. When customer opens an account with Rs.1000 in JRG, and then he trades with that
Rs. 1000 that is 100 shares at Rs.10 each then it is a pay in for JRG and then has to pay this
amount to exchange. And if the customer trade for 200 shares @ 10 each, that is 2000, then
the excess of Rs.1000 is the payout which JRG has to pay to the exchange on customer behalf.
Later JRG remits the amount from the customer. For trading and other work with the exchange
the department has to keep four settlement accounts.
The accounts are maintained in the name of the exchanges, they are NSE, BSE and
NSE F&O. The main bank of JRG is HDFC. The time given for settlement is "T+2" .that
means two days from the trading day. The settlement should be done before 10.30 a.m. The
exchange will wait up to 1.30 p.m. after that they will cut down the terminals. So it is a crucial
department. A small mistake may cause big loss to the company. The software used by the
accounting department is EMC and Lidha Didha-web based.
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The functions this department is:
Exchange pay in and payout
Client pay in and payout
Negotiation with bank
Exchange related obligations
Cash and fund management
Periodical reporting of accounts related matters to the exchange
Bank reconciliation
Fixed deposits and bank guarantee
Statutory matters
This section deals with checking the payment of the expenses of the company. Check
whether all audit expenses, payouts, general accounts branch and head office expenses and
payments are coordinated or not.
Functions:
Checking all the expenses
Head office and branch expenses
Petty cash expenses and control
Reversal of penalty
Preparation of business incentive cheques
Expenses cheques
Salary cheques
Salary payable
ESI,PF
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Service tax, stamp duty, stamp paper
Associates
This section deals with the associate and brokers of JRG. The functions are;
Business incentive calculation
Business associate deposit
Refund of security deposit
Bad debt
Payable entry
Business planning and analysis
This section deals with the planning and analysis of financial activities. Here they prepare
the annual operating plan for a year. For the preparation of AOP, it checks with all the revenue
and expenses to the company. The major revenue of JRG is from the brokerage of securities
and commodity, DP, MF, Insurance and the only major expense is as the payment of incentives to the franchises. Budget is prepared by the section considering all the revenue and
the market considerations.
Functions:
Revenue and expenses budget for corporate and branch
Monitoring of expenses with respect to AOP
Approval of petty cash
To check whether all the management decisions are implemented.
Review of budget and forecast.
Approval of purchases above Rs.25000 per transaction
Implementation and modification of systems and processes
Branch profitability and staff incentives.
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4.4.1 STRUCTURE OF BILLING AND CLEARING DEPARTMENT
Senior Manager
Manager
Asst. Manager
Officer
Training Officer
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4.4 BILLING AND CLEARING DEPARTMENT
In a trading business customer satisfaction is very important. Even though properguidance is provided for the client to make trading, it is the duty of the clearing department to
do necessary back office work. Clearing department will do the rest of the work like making
sure that the delivery has properly happened, whether the clients have sufficient fund/ stocks
for living. Also it is the duty of the clearing department to download all the daily transaction
reports from the various stock exchanges after the trading time is over. By around 4.30 it is
available in NSE and BSE. After getting various reports they will upload these data into the
respective softwares.
After uploading the data it is the duty of the billing department to check the data and
compute the necessary payments to be paid to the various changes.
The major functions of this department are;
Client registration
Unique client code upload
Fitting of client registration
Downloading and uploading files.
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4.5 MARKETING DEPARTMENT
JRG being a well known stock broking firm in India is mainly depended on itsMarketing Department to know the potentials of the market and its competitors. No firm can
survive without having an efficient marketing team. The marketing team of the head office
consists of 10 members.
Functions of Marketing Department
The business development department in the head office looks over the whole Kerala
Operations of JRG.
All branches of JRG should have at least one person for the development of their
business over that area.
The marketing teams jobs are development of business, direct selling etc.
Before opening a new branch the marketing team will look over the availability of all
resources at the place.
They make sure that at least 10-15 clients are there in the new branch.
Conduct feasibility study on the places of business associates and analyze the market
as a whole.
Provide promotion work for all the departments of JRG.
Does marketing research, both formal and informal, to determine what customers want
and what they are willing to pay for it.
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4.5.1 STRUCTURE OF MARKETING DEPARTMENT
Asst. V.P Marketing
Senior Manager
Manager
Marketing Co-ordinator
Asst. Manager
Executives
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4.6 TECHNICAL DEPARTMENT
Being a main market player, all the activities happening in JRG is based on computers.Even a small mistake can lead to a huge loss. It is the duty of the technical department to avoid
this. The duties include;
Business connectivity
Implementation and monitoring of new technologies
Servers
Customizing software
Providing firewall support for all the terminals
Website creation and updating
Software installation
Technical department is one of the very crucial departments in any broking firms. The
firm is running through two connectivity; one is an ISP and the other autonomous BGP
(Broadway Gateway Protocol). JRG uses the most modern IBM servers and JRG is the first
company to use those servers in Kerala. They have a disk based backup which helps from
losing of data.
All the technical work of the entire JRG wing is carried down from head office. No
technical department is there in branches, but some regional officers have one or two
technicians. Special training is given for freshers in this department.
The duty of the technical department is to maintain the software and hardware
complaints.
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4.6.1 STRUCTURE OF TECHNICAL DEPARTMENT
Asst. V.P Technical
Senior Manager
Manager
Asst. Manager
Officer
Trainee Officer
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4.7 COMPLIANCE DEPARTMENT
The compliance department in JRG ensures that the trading is done as per the SEBI
guidelines and it also ensures that malpractices take place in the trading activities. If any
violation takes place then the department ensures that the necessary actions are taken against
the violations. It also deals with all legal activities of the firm.
Objectives
To ensure that the company abides to the laws enforced by SEBI and other government
organizations.
To ensure that its customers are apprised with information and mandatory instructions
etc.
The activities
As the name itself says, its function is to see that the company is complying with all
norms, regulations and rules lay down by various government regulatory authorities
like SEBI, BSE, NSE, Income tax department, Company Act and withdrawal of
license. This may lead to severe loss of revenue to the company and major hit on the
good will of the company.
The government request various kinds of compliance related reports by the company
which has to be generated and submitted periodically, which is handled by compliance
department. Stock broking certificate has to be renewed every 5 years and portfolio
management scheme certificate has to be renewed by every 3 years for which
government analyses various aspects of the compliance which company has to meet
with.
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As per the "Know Your Customer" system passed by the government it is the duty of
the compliance department to maintain a good relationship with the customers.
Inform about the company to the client.
Inform clients the details that are to be submitted to the company.
4.8 RISK MANAGEMENT DEPARTMENT
The Risk management department of JRG monitors the transactions that take place in
various branches and business associates.
A client needs to have certain amount of money in the account, proportion in which
they can trade in the market. The department provides limit to the clients. On the basis of
limits on various factors like earlier trading pattern, recommendation from the branch and
credit worthiness etc., the department helps the client to trade in the market. After giving the
limit, the department monitors whether the client trades within the given limit. Necessaryactions will be taken if client crosses the limit. The risk department motivates the clients who
are interested, but does not have enough money, to trade by providing such limits. The main
functions of this department are;
Monitoring the clients accounts
Setting margin amount for the client NBFC Operation
This section deals with giving loans to the clients against their holding of shares. It also
provides loan to the clients up to the limit of four times to the amount they have in their
account. The limit is set based on their credit worthiness. It also deals with the financial
products other than the banking products.
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4.9 ADMINISTRATION DEPARTMENT
The Administration Department does the administration work of the head office aswell as the branches. JRG has got 430 branches in India; the requirements of all these branches
are met by the administration department.
Under this department all the matters relating to the proper functioning of day to day
affairs are handled. Administration department have a direct/indirect relation with all the
departments. Some of the matters handled by this department include;
Monitoring the agreements and requirement for opening the new branches. Electrical support, Fire and Safety
Monitoring of travelling expense and accommodation.
Handling dispatch department.
Record maintenance.
Inventory management.
Control over stamp paper.
Control over capital expenditure
Control fixed assets and its movement.
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4.9.1 STRUCTURE OF ADMINISTRATION DEPARTMENT
Director Administration
Senior Manager
Manager Administration
Asst. Manager
Senior Officer
Trainee Officer
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4.10 INTERNET TRADING (I-TRADE) DEPARTMENT
Internet trading or online trading has introduced a new phase in stock market andcommodity future trading, making the market literally at the fingertips of the trader. The onset
of online trading changes the traditional value proposition of trading. Now investors and
traders get rich interactive information in real time, including market data, investment research
and robust analytics. The present day environment helps any class of investors to save time,
which is money and hence, the need arises for internet trading.
In the real world one do stock market trading or commodity future trading with the
respective exchange through a broker. In online trading one will access the website through
their internet enabled PC and place orders through the internet-based trading engine.
Understanding this need, JRG introduced a unique, exclusive portal for its customers to
do internet trading in stock market and commodity futures market- JRG I- Trade.
JRG I- trade is the ultimate online trading platform for shares and commodities futures
trading in NSE, BSE, MCX, NMCE, NCDEX.
It is for the individual client, they are provided with separate ID and password. Here
the client can trade using the software provided, they are;
I- Trade easy I- Trade classic
Features of JRG I- Trade
Real time streaming and net position view. Commodity quotes, stock quotes. Real time order and trade confirmations flashed onto the trading screen. Security provided through 128 bit encryption technology. Simple, Stable, fast to deploy.
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4.10.1 STRUCTURE OF INTERNET TRADING (I-TRADE)DEPARTMENT
RegionalManager
Country Head
State Head
Territory Manager
Business Development Officer Tele Callers
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Advantages
NSE, MCX, NCDEX trading through single screen - cash, derivatives, commodity
futures
Personalized service: - JRG offers the highest level of personalized customer service
using dedicated staff.
Safety: - latest technology to ensure protection against fraud and hacking I-trade use
encryption firewalls and level password protection to ensure this.
Competitive brokerage.
Rate refresh: - JRG I- Trade offers the real time refresh with no time lag.
Time saving and low cost.
Operation cost reduction to the company.
ONLINE TRADING SYSTEM
I-Trade easy
I-Trade easy is web based system, which is provided to all the customers.
I-Trade classic
It is a software based system that provides the clients with the complete software
infrastructure to support internet commerce, the ability to own HTML web transaction pages
and the option to integrate existing website. For login to net, one can go to http:/jrg. co.in/net
net/login.asp.
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Medium used for communication
E-mail
Mobiles
Yahoo messenger
4.11.1 STRUCTURE OF RESEARCH DEPRTMENT
Research Head Officer
General Research Manager
Manager
Asst. Manager
Senior Officer
Junior Research Officer
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4.12 SURVEILLANCE DEPARTMENT
Being a trading firm JRG's surveillance department can be considered as the file bloodof the firm. For the existence in the competitive market surveillance department plays a major
role, in a competitive market providing proper guidance in trading is not only the function of
major players like JRG. So surveillance department plays its part to make the customers stick
to the firm.
Its actual functioning is monitoring the transactions happening in the various branches
& in business associates. For trading in the market a client needs to have certain amount of
money in the account. They can make trading only in proportion to these amounts.
But with the help of surveillance department they can make trading by getting a limit
up to 10 times i.e. if a client is only having 10000/- in his account, he can get a limit up to
100000/-.But the surveillance department provides this only on the basis of various factors like
past trading pattern of the client, recommendations from the branches etc. Surveillance
department is having the full control of all its branches & business associates. They can access
the account of any client from the head office. They can even control the account and if needed, they can square of the position of the client. JRG is the only trading firm that is
providing a limit of 10 times. By providing these limits the surveillance department is actually
motivating the clients who are interested but doesn't have enough money to trade. So
surveillance department can also be called as business promoters.
Functions
Monitoring clients accounts Settings margin amount for the client
Collection of debits
Prevention of defaults
In case of default provide details for legal actions
Squaring the position of the clients if necessary
Forwarding the tips from the research department
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4.12.1 STRUCTURE OF SURVEILLANCE DEPARTMENT
Senior Manager
Manager
Asst. Manager
Senior officer
Junior Officer
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4.13 INSURANCE BROKING DEPARTMENT
This department actually acts as an Insurance broker to the public. Being a growingmarket, a consumer has to choose insurance from various insurance firms. It is very difficult
for an ordinary client to go to various offices and study the insurance policies. So being an
insurance broker JRG insurance will guide the client to choose the suitable insurance from
various offerings. JRG insurance is providing mainly insurance in corporate, they are not in
personal insurance. JRG mainly obtain their clients by references. All branches act as
representative for insurance broking. Almost all actions are centralized.
SALES
JRG Insurance Broking Ltd deals with insurance product of various companies. JRG
have a main tie up with ICICI Prudential. The basic two types of insurance product are life
insurance and non-life insurance.
Life insurance
Life insurance is a contract pledges payment of an amount to the person assured (or his
nominee) on the happening of the event insured against.
The contrast is valid for payment of insured amount during.
The date of maturity, or
Specified dates at periodic intervals, or
Unfortunate death, if it occurs earlier
Product under Life Insurance
LIC
ICICI Prudential
Bajaj Allianz
Birla Sunlife
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Met Life India
Tata AIG Life
ING Vysya
Reliance Life
Max New York life
Sahara
SBI Life
HDFC Standard Life
Bharti AXA
Non-life insurance or General Insurance
General Insurance is a form of insurance mainly concerned with protecting the policy
holder from loss or damage caused by specific risks. Example is Property or causality
Insurance, Health/Disability insurance, Business/Commercial Insurance.
The products under non-life insurance;
New India Assurance
Oriental Insurance
National Insurance
United India Insurance
ICICI Lombard
Bajaj Allianz
Reliance General Insurance
Cholamandalam Mitsui Insurance
IffcoTokio
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Tata AIG General
Royal Sundaram
HDFC Chubb
TELECALLING
JRG does the major marketing of the life insurance product of the various companies
through Tele callers in JRG. They are required to make outbound calls to the customer to sell
the insurance products. Here the total Tele-callers are divided into different teams, based on
their region with a team leader. Here the customers are called leads. The Tele-callers are
provided with the leads by JRG and even the Tele-callers can generate their own leads. The
Tele-callers have to convince the customer with the products.
The Tele-callers are given the target to be met. These targets are weekly and monthly
targets. Weekly they have to meet the target of three closing and monthly its ten closing.
The functions of Tele-callers are;
Make outbound calls to the customer
Lead generator for life insurance products
Customer mapping
Lead conversation
Follow up
Effectively and efficiently respond to calls from customers (if any)
Reply to their queries and resolve issues
To ensure the quality of output and accuracy of information is maintained
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OPERATIONS AND TARGET MONITORING
The operations section of the insurance department takes care of the non-life insurance
product. The basic products on which insurance department are properly maintained are
Insurance, Casualty Insurance, Health Insurance, Disability Insurance, Business Insurance and
Commercial Insurance. In the operation of non-life insurance products, clients, insurance
companies and the marketing team are linked together. Here the following activities are
conducted;
Client services;
The marketing or the sales managers meet the clients and suggest the products to the
clients for insurance
Survey of the incident and the report is submitted to the insurance company.
Processing and evaluation of clients
Managing Back office work
Sorting all the soft copy and hard copy of the documents of the insurance.
These documents are recorded and stored so as to retrieve in case it is misplaced by the
client.
Insurance quotes management
Quotes for the premium are increased or decreased based on the amount of premiumgiven
Target monitoring
Target is monitored on a monthly, quarterly, half yearly and yearly basis.
During the financial year ending, more targets are given; the season is March to May.
Incentive structures are planned based on the achieved
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Premium calculation
Premium is calculated according to the IRDA rules for the client.
Monthly reports
Monthly reports are prepared on the product sold, premium received, about the
insurance claim
These reports are them submitted to the accounts department, marketing department.
In the operations of the life insurance products targeting and insurance company are linked
together. The two back office works for the life insurance are;
Target monitoring- daily review of the targets, here the operations and the sales are
linked together
Operations-here the verification of the client's document is done, verifying the client's
signature, are proof, cheques.
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4.13.1 STRUCTURE OF INSURANCE BROKING DEPARTMENT
Senior Manager
Manager
Asst. Manager
Sales Officer
Tele Callers
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CHAPTER 5
SWOT ANALYSIS
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5.1 SWOT ANALYSIS
STRENGTHS
Well qualified and experienced employees
Strong brand value
Large customer base
Expanding the presence all over India
Ever increasing market position
WEAKNESS
The company's late entry to the online trading caused heavy cost on building the
customer base and promotional activities
There is no proper incentive management system
OPPORTUNITIES
Increasing awareness amongst public about share market boost up and the revenue of
the organization.
Managerial and hierarchical restructuring
Expanding geographical presence
Expanding the market
Creating awareness and bringing more students into share trading business
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THREATS
Market fluctuations
Rapid growth of competitors (Geojit, Share Khan, India Infoline, Karvy etc)
Stock markets in India are very volatile and sensitive in nature, so the equity and
derivative trading business is very risky.
The legal regulation and restriction of government are becoming very tight, since the
trading companies plays with public's money.
The company has faced a loss of Rs. 5. 11 crores this year compared to the Rs. 1.45
crores profit last year.
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CHAPTER 6
FINDINGS AND SUGGESTIONS
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6.1 FINDINGS
The following are the findings about JRG securities Ltd
JRG is a full-fledged depository participant of National Securities
Depository Ltd and Central Depository Services (India) Ltd.
Well-established management, which provides effective functioning of the
organization.
Employees under the capital and commodity head have to compulsory undergo theNCFM exams.
They provide training to the dealers on a regular basis.
Seminars are conducted for the clients with the new developments.
Employees and management share a good relation.
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6.2 SUGGESTIONS AND RECOMMENDATIONS
The firm has to take proper measure to increase the level of a awareness about the
product and services of JRG to the Public.
To adopt new marketing strategies in the sales of its products. These strategies can be
executed by giving more advertisement, conducting seminars etc.
Expansion of Tele marketing.
To motivate employees with attractive rewards and gifts to attain company objective.
Increase the number of branches.
The company should implement a proper dress code, which would bring in a sense of
professionalism to the work force.
Office premises should be neat, clean and well maintained.
To adopt new strategies to with stand the pressure of the competition. To do so, the
company can use the following strategies:-
Reduce the brokerage Providing better services by adopting latest technologies Improvement in the trading platforms. The company can deal with mutual funds and insurance products of all
companies.
More choices can be given to customers like gold loan or stock loans.
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CHAPTER 7
CONCLUSION
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7. 1 CONCLUSION
JRG Securities Started their business in 2002 as a partnership firm and now they are apublic limited company listed in various exchanges like BSE, NSE, CSE and a depository
participant of NSDL. They made the public issue in 2005 it was a successful one.
In a short span time, the growth rate of JRG is fascinating and now they are one of the
leading commodity brokers in India. JRG is one of the main competitors in this field.
JRG currently has a large network of branches and trading centers across India and a
major presence in the Middle East with headquarters in Dubai.
JRG recently set up a NBFC with a capital of RS.50 crore. JRG Fincorp, a joint-
venture company formed by JRG Securities Ltd, and Baring India, plans to fund the
company's business in the securities and commodities.
They offer the latest technologies for their clients. They were among the first ones to
provide online trading and are pioneers in mobile trading. The whole JRG team works as a
highly professional and motivated group, which is one of the important winning factors of JRG and this, will help them to attain new heights in the future also.
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BIBLIOGRAPHY
www.jrg.co.in
www.nseindia.com
www.bseindia.com
www.inditrade.co.in
www.moneycontrol.com
economictimes.indiatimes.com
www.sebi.gov.in
Human Face: JRG Securities Ltd.
Annual Report Dalal Street