Summer Internship Project Report on

“TO STUDY AND ANALYZE THE TIME TO CASH PROCESS OF BAJAJ FINSERV”

Submitted in partial fulfilment of the requirements for the degree of

Post Graduate Diploma in Management (Marketing)

By

SIDDHARTH KUMAR

(Roll No. E2M- 40)

Under the guidance of

DR. MAHESH MANGAONKAR

A Study Conducted for

BAJAJ FINSERV LENDING

Indira School of Business Studies,

Tathawade, Pune 411033

(2015-17)

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 Acknowledgement

I have taken efforts in this project. However, it would not have been possible without the kind
support and help of many individuals and organization. I would like to extend my sincere
thanks to all of them.

I am highly indebted to Mr. Biraj Mishra for his guidance and constant supervision as well as
for providing necessary information regarding the project & also for his support in completing
the project.

I would like to express my gratitude towards my parents & member of Indira school of
Business Management for their kind co-operation and encouragement which helped me in
completion of this project.

I would like to express my special gratitude and thanks to my faculty and guide
Dr.Mahesh Mangaonkar who guided me in this project.
My thanks and an appreciation also goes to my friends in developing the project and people
who have willingly helped me out with their abilities."

Siddharth Kumar

ISBS PGDM (marketing)

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 Certificate from ISBS

This is to certify that this project report titled "To study and analyze the time to cash process
of Bajaj Finserv with an aim to suggest improvement to the process” is based on an
original project which was conducted by Mr. Siddharth Kumar under my guidance. This finds
less scope for duplication and was not submitted for the award of any degree or diploma from
other university or institution.

Dr.Renu Bhargava Dr. Mahesh Mangaonkar

(Director ISBS) (Indira School of Business Management)

Date:

Place:

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 Certificate from Company

TO WHOM IT MAY CONCERN

This is to certify that Mr. Siddharth Kumar student of Indira school of business studies,
has done his Summer Training Project from 2015 on the subject of “A project to analyze
the time to cash process of Bajaj Finserv with an aim to suggest improvement to the
process” in our esteemed organization under).

During this training period we found him sincere, well discipline & hard working during
this tenure.

We wish him Good Luck for the career endeavours.

Thanks & Regards,

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 Executive Summary

The project titled “To study and analyse the time to cash process of Bajaj Finserv with an aim to suggest
improvement to the process” in Pune city.
The prime objective is to study about time to cash process of Bajaj Finserv and find problems in the complete
process.

Project mainly focused on the working method of the sales executives and what problem they faced during
completing the file or preparing the file. How many days were taken by the sales executive and the sales
manager to prepare and disburse the amount to the dealer and were they maintain the time to cash.

This research is based on primary as well secondary data, however primary data collection was given more
importance. Research has been done by primary data collection, and primary data has been collected by
interacting with sales executives and sales managers, and it was constructed in a manner of getting maximum
information from the sales executive. Secondary data has been collected from company annual report and
database.

The study was conducted based on questionnaires to collect the necessary data: question were asked and
the necessary information was filled on the basis of the respondent answer. The questionnaires are in the
structured form, the research study was done with the structured personal interview.

This project also focuses the loan procedure and its approval by studying the cases and records of the
company, which documents are necessary for approval of loan and also to show the SWOT analysis of
company. Through this project, the researcher has learnt how to give a loan on consumer durable product and
how to solve difficulties about the documentation. The project deals with time to cash , completing their files
and getting the approval online from Bajaj server called as “Galaxies” portal and disbursement of cash to the
dealer. This process helped me to better understand the loan procedure of consumer durable product at Bajaj
Finserv lending and how time is important in each and every part of the process.

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 Table of content

CH. CONTENT PAGE NO.

NO.

1 INTRODUCTION 9

2 INDUSTRY /COMPANY OVERVIEW 10

3 REVIEW OF LITERATURE /THEROTICAL 25

BACKGROUND

4 OBJECTIVES OF THE STUDY 29

5 RESEARCH METHODOLOGY 30

6 DATA ANALYSIS 33

7 CONCLUSION 37

8 LIMITATION OF THE PROJECTS 38

9 RECOMMENDATIONS 39

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 List of tables

Serial no Page no

Table no 2.1 17
organization chart of Bajaj Finserv

Table no 6.1 33
T2C knowledge about T2C

Table no 6.2 34

Table no 6.3 35

Table no 6.4 36

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 List of figures

Figure no Particulars Page no.

Figure no 2.1 Different department 13

Figure no 2.2 Organizational hierarchy 14

Figure no 2.3 Product profile of the organization 18

Figure no 6.1 T2C knowledge about T2C 33

Figure no 6.2 Reason for increase in T2C 34

Figure no 6.3 Problem regarding manpower 35

Figure no 6.4 No of member know T2C in a Team 36

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 1. Introduction
What is the project?
T2C stands for “Time to Cash” It refers to How many days (Time) taken liquidate cash to the
Dealer.
T2C provides a very practical framework that helps dealer to focus on the essentials start-up
and that provides a guide for a number of elementary strategic Decision to take less to cash to
dealer.
T2C starts with Initial stage (Login) to last stage (DM) Disbursement Memo but Now
T2C starts with from Invoice date to Disbursement Memo.

Definition and purpose of the project

T2C is the complete process of a loan application starting from the login by the FOS till the
QDP happens to the dealer and the LAN is generated to the customer.
“T2C is the process of liquidation of cash time taken by the Dealers to improve working
process faster through cash within the time”.
T2C refers to that process which convert customer needs into cash within less time to make
payment to dealer is known as Time to cash.

Scope of the Project:

 To reduce the process of time to cash at different counters of bajaj finserv during a fixed period of
time.

. 1.4 Salient Contributions of the project-

 Provided service as an intern for 60 days
 Helped in reducing many counters by working with them-
 Helped sales executive to understand the importance of time to cash.

Outline of the project

 The project was to reduce the time to cash at different counters of Bajaj Finserv.
 The main work was to reduce the process to time to cash within 5 days.
 There were different problems due to which the time to cash increased in different
counters.
 Visiting the stores and observing and finding the stores and finding out the reason for
increase in T2C.

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 2. Company Profile

Do whatever you think best, but be best at whatever you do

Rahul Bajaj, chairman - Bajaj group
What started off as a sugar manufacturing factory in 1931 has grown to become one of the
country’s largest business houses. with activities that encompass a whole range of industries,
spanning automobiles (two-wheelers and three-wheelers), home appliances, lighting, iron and
steel, insurance, travel and finance.
At the turn of the new millennium, this business conglomerate is ranked amongst one of the
largest business family in India by the centre for monitoring Indian economy (cmie). It has
under its umbrella over 25 companies and strength of over 25000 employees.
It’s core strength, however, is the unshakeable foundation based on its tradition of trust

Bajaj finserv was formed in April 2007 as a result of its demerger from Bajaj auto limited to
further the group’s interests in financial services. This demerger enabled Bajaj finserv to
independently run the core businesses of lending, insurance and wealth advisory.
Bajaj finserv limited is the holding company for the financial services businesses of the Bajaj
group. Its insurance joint ventures with Allianz se, Germany namely Bajaj Allianz Life
Insurance Company limited and Bajaj Allianz general insurance company limited are engaged
in life and general insurance business respectively. Its subsidiary Bajaj finance limited is a non-
banking finance company engaged in consumer finance, sme finance and commercial lending
and wealth management.
At Bajaj finserv, we operate with a simple philosophy of never settling for good, and always
aiming for great. Our wide and growing portfolio of products across lending, insurance and
wealth advisory bears testimony to this belief.

FINANCE
Bajaj Finance Limited is the consumer finance lending arm of Bajaj Finserv Limited. It is the
most diversified non-bank in the country, the largest financier of consumer durables in India
and one of the most profitable firms in the category

INSURANCE
Bajaj Finserv Limited forayed into insurance through a joint venture with Allianz SE,
Germany, and formed Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz
General Insurance Company Limited. Allianz SE has over 119 years of financial experience
and is present in over 70 countries around the world.
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WEALTH
Bajaj Finserv Wealth Management provides simple and effective long term financial planning
concepts and tools for assisting our customers in making informed decisions for their saving
and investment needs

HISTORY OF BAJAJ FINSERV LTD

BAJAJ FOUNDING FATHER

Shri Jamnalal Bajaj (4 November 1889 – 11 February 1942) was an industrialist, a
philanthropist, and freedom fighter. He was a close associate and follower of Mahatma Gandhi
who is known to have adopted him as his fifth son. He founded the Bajaj Group of companies
in 1926 which now has 24 companies, including 6 listed ones.

Shri Jamnalal Bajaj was born into a poor Marwari family, the third son of Kaniram and
Birdibai, and was later adopted as a grandson by Seth Bachhraj and his wife Sadibai Bachhraj,
a rich Rajasthani merchant couple of Wardha.
Under the guidance of Seth Bachhraj, Jamnalalji got involved in the family and acquired the
know-how of being a tradesman - keeping strict accounts and buying and selling commodities -
excelling in his work by the time Seth Bachhraj expired. In 1926 he founded what would
become the Bajaj group of industries.
During the First World War, the British government appointed Jamnalal an honorary
magistrate. When he provided money for the war fund, they conferred on him the title of Rai
Bahadur, a title he later surrendered during the non-co-operation movement of 1921.

Upon Gandhiji's return from South Africa, Jamnalalji took an interest in Gandhiji's way of life,
his principles, such as Ahimsa (non-violence), and his dedication to the poor. He could
understand Gandhi's vision that home-made goods were the answer to India's poverty and
strongly advocated that cause while touring the length and breadth of India promoting Khadi.

In 1920, Jamnalalji was elected chairman of the reception committee for the Nagpur session of
the Indian National Congress. He gave up the title of Rai Bahadur conferred on him by the
British government, and joined the non-co-operation movement in

1921. Later, in 1923, he participated in the flag Satyagraha, defying a ban on flying the
national flag in Nagpur, and was detained by British forces. This earned him national
admiration. He was later elected a member of the Congress Working Committee and as the
treasurer of Congress in 1933.

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With the intent of eradicating untouchability, he fought the non-admission of Harijans into
Hindu temples in his home town of Wardha. Amidst strong objections, he opened his own
family temple, the Laxmi Narayan Mandir, in Wardha, for the Harijans in 1928. This was the
first temple in India to do so.

Jamnalalji dedicated much of his wealth to the poor. He felt this inherited wealth was a sacred
trust to be used for the benefit of the people. This was in line with the trusteeship concept
proposed by Gandhi.

That he was treasurer of the Indian National Congress for more than 20 years despite having
just 4 years of formal education, is an insight into the mind of a man who knew no limits

Structure of Bajaj Finserv

S.NO. SECTORS PRODUCTS

1 FINANCE Consumer Durable

SERVICES
2 Insurance Allianz SE, Germany,

3 Life Insurance Bajaj Allianz life insurance

4 Wealth Management Financial planning concept and tools for assisting our
customers for their saving and investment needs
5 Asset Management Fixed asset and Current Asset
6 Lifestyle Loans on apparels

Vision and Mission of the Organization:

Vision:

Bajaj Finserv has a vision to become a full-fledged financial services company and be the financial partner to
the Indian consumer and help him across his financial needs, whether for finance, for investment management,
for protection or for post-retirement support, throughout his lifecycle.

Mission:
Bajaj Finserv aims to be the most useful, reliable and efficient provider of Financial Services. It is our
continuous endeavour to be a trustworthy advisor to our clients, helping them achieve their financial goals.

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Objective of the Organization:
Our main objects as contained in our Memorandum of Association include:
1. To Finance industrial by way advance ,deposit or lend money, securities and propertied or with any
Company, Body corporate, trust, firm, person or association whether falling under the same
management or otherwise, with or without security and on such terms as may be determined from time
to time, and to carry on and undertake the business of finance and investment and to provide venture
capital, seed capital, loan capital and to participate in equity preference share capital or to give
guarantees on behalf of the company in the matter and to promote companies engaged in industrial and
trading business and to act as Financial Consultants, Management Consultants, Brokers, Dealers,
Agents and to carry on the business of share broking, money broking ,exchange broking, bill broking
and general brokers for shares ,debentures, debenture-stock, bonds, units, obligations, securities
,commodities, bullion currencies and to manage the funds of any person, firm, body corporate or trust
by investment in various avenues like Growth Fund, income fund, risk fund, tax exempt funds, pension
/superannuation funds and to pass on the benefits of portfolio investments to the investor as dividends,
bonus, interest, etc.
To carry on the business as an investment company and to underwrite, sub-underwrite, to investigating , and
acquire by gift or otherwise and hold, sell, buy or otherwise deal in shares debentures, debentures-stocks, bond,
units, obligations and securities issued or guaranteed by Indian or Foreign Governments, States, Dominions,
Sovereign

2.2.4 Organization structure

Figure No. 2.1: Different Departments

Departments

Administration Collections Marketing Product

Credit Team Human Resources Operations Sales

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: Organization Hierarchy:

A key issue in accomplishing the goals identified in the planning process is structuring the work of
organization. Organizations are group of people, with ideas and resources working toward common goals. The
purpose of the organizing function is to make the best use of the organizations resources to achieve
organizational goals. Organizational Structure is the formal decisions making framework by which job tasks
are divided, grouped and coordinated. Formalization is an important aspect of structure. It is the extent to
which the unit of organization is explicitly defined and its policies, procedures and goals are clearly stated. It is
the official organizational structure conceived and built by top management. The formal organization can be
seen and represented in chart form. An organization chart displays the organizational structure and shows job
titles, lines of authority and relationship between departments. Organizational Structure allows the expressed
allocation of responsibilities for different functions and processes to different entities. Ordinary description of
such entities is as branch site, department, work group and single group of people.

Figure No.2.2 Organizational Hierarchy

Rahul Bajaj
[Chairman]

Nanoo Pamnani
[Vice-Chairman]

Rajeev Jain
[Ceo]

Rakesh Bhatt
[Coo]

Devang Mody
[President Consumer Business]

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 Deepak Reddy
[Chief Human Resources]

Manev Mianwal
[Group Marketing Head]

Pankaj Thadan
[Chief Compliance Officer]

Amit Gainda
Business Head - Mortgages

Rajesh K
[Chief Risk Officer]

Ashish Panchal
[Business Head - Credit Cards & Loan]

Diwakar Pundir
[Chief Credit Officer]

Ashish Sapra
[Business Head - Cross Sell]

Amit Raghuvanshi
[Business Head - Sales Finance]

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 Atul Jain
[Chief Collections Officer]

Samir Mehta
[Business Head Commercial

B. Sreenivas
[Business Head - Insurance

Vivek r. Likhite
[group corporate audit head]

M M Muralidharan
[Treasurer]

Deepak Bagati
[Business Head - Business Loans]

Samir Satyam
[BH - Loan Against Securities]

Sanjeevvij
[BH - Construction Equipment]

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Table No.2.1: Organization Chart of Bajaj Finserv:

Name Designation

Rahul Bajaj Chairman

Nanoo Pamnani Vice-chairman

Madhur Bajaj Major director

Rajiv Bajaj Director

Sanjiv Bajaj Non-executive director

D.S.Mehta Major director

D.J.Balajirao Director

Dipak Poddar Director

Ranjan Sanghi Director

Rajendra Lakhotia Director

Omkar Goswami Director

2: Product Profile of the Organization:

Bajaj Finserv Lending offers loans for various needs. We offer loans for Bajaj Auto Two Wheelers under the
name of Bajaj Auto Finance Ltd. We offer Consumer Durable Loans, Personal Loans, Loan against Property,
Small Business Loans, Construction Equipment Loans, Loan against Securities and Insurance Services under
the name of Bajaj Finserv Lending. Bajaj Finserv Lending is one of the most diversified NBFCs in the market
catering to more than 5 million customers across the country. Apart from being a well-recognized organization,
17
they pride us for holding the highest credit rating of FAAA/Stable for any NBFC in the country today. The
product offerings include Consumer Durable Loans, Personal Loans, Loan against Property, Small Business
Loans, Two-wheeler and Three – Wheeler Loans, Construction Equipment Loans, Loans against Securities and
Insurance Services.

Home Loan

Construction Consumer
Equipment Loan Durable Loan

Product

Portfolio

Three/Two
Wheeler Loan
Mortgage Loan

Personal and
Small Business

Figure No.2.3: Product Profile of the Organization

 Products Covered:
0% interest Consumer Durables Finance is available on a wide range of products and in over 101 cities across
India. Hereunder is an indicative list of products covered?
 LED/LCD/CTV
 Washing Machines
 Microwave Ovens
 Refrigerators,
 Cameras/Camcorders
 Dishwashers
 Generators

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  Cooking Range products
 Dryers
 Laptops / Desktops (Select)
 Smart phones (Select)
 Air purifiers / Water Purifiers / R.O.
 Music Systems
 Inverters
 Air conditioners



Competitors – Major competitors of Bajaj Finserv are Capital first and

Tata capital

Achievements:
Awards:
 Top 3 Financial Services Company:
We're proud to be ranked amongst the Top 3 Financial Services Companies to work for in India. The ranking
was conferred on us by Great Places to Work (GPTW), the gold standard in ranking the world’s best
workplaces, at a special event hosted in Mumbai on 21 June, 2013. GPTW conducts this survey every year
amongst more than 500 companies across India. This year more than 530 companies participated in the survey.

 CIO 100:
Recently, we also won the CIO 100 Innovation award for two of our innovations - EMI Card and Flexi
saver.CIO 100 is an annual award program that recognizes organizations that exemplify the highest level of
operational and strategic excellence in information technology (IT). CIO magazine has a long and proud
tradition of honouring leading companies for business and technology leadership and innovations through its
premiere award program – CIO100. Now in its 25th year in the USA, it is an acknowledged mark of enterprise
IT excellence. It’s a celebration of 100 organizations (and the people within them) that are using information
technology in innovative ways to deliver business value, whether by creating competitive advantage,
optimizing business processes, enabling growth or improving relationships with customers. Hosted in countries
such as Canada, Sweden, Australia, Singapore, Vietnam, Hungary and India, the CIO 100 Awards is a truly
global recognition. It is an acknowledged mark of excellence in enterprise IT

Branch detail – the branch office was in Kolkata in infinity benchmark saltLake Kolkata.
Technology the technology used by was finserv was upgrade. Every date was stored and was
maintained by cloud data base. And was very fast except while filling kyc form.

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 INDUSTRY PROFILE

India is undergoing rapid development. This means that there are millions of people who
dream of better home, better infrastructure and a better life. This opens several avenues of
potentially limitless growth in the banking and finance sector. Bajaj Finserv Lending will help
grab this opportunity to grow your business, through lending loans, financing, etc.

An innovative, competitive and thriving financial services industry in any country plays a vital
role in its smooth functioning and development. India's financial services sector has posited a
stable growth curve over the years driven by sound fundamentals, rising personal incomes
corporate restructuring, financial sector liberalization and the growth of a consumer-oriented,
credit-oriented culture. This has led to the increasing demand for financial products, including
consumer loans (especially for cars and homes), as well as for insurance and pension products.
The soaring demand for financial services offers promising investment prospects.

According to the Central Statistical Organization (CSO) data, released early this year, financial
services, banking, insurance and real estate sectors rose by 7.4 per cent in 2013-14

 A favorable demographic profile which supports a higher retail off take - 54% of the
population is in the 15-35 years age group. India consists of a dynamic and a growing
middle-class class which on a purchasing power parity basis is much larger than the
entire population of the US and a consumer credit market that is growing by more than
40% per annum.
 Continuous increasing in capital expenditure by the government and private industry.
 Significant opportunities in the largely untapped SME segment- which accounts for 40%
of the industrial output and 35% of India's direct exports
 India's increasing and consistent growth. As per the CSO, the Indian economy grew by
an estimate of 7.4 per cent in the year 2013-14 and is expected to grow over 8 percent in
the coming months.

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  Growing investment avenues across all segments in the banking and financial services
sector.

GROWING POTENTIAL IN THE INDUSTRY

Demand for banking services is growing significantly, albeit in a country where less than half
of households have a bank account. It is in the retail sector that the surge in demand is most
marked. Housing loans grew by more than 50% and loans to the retail commercial sector rose
by more than 100%. According to the weekly statistical supplement (WSS) of the Reserve
Bank of India (RBI),

Indian bank loans represented a rise of 19.1 per cent as of June, 2014 while deposits were up
per cent from the previous year. Furthermore, outstanding loans showed an increase
from US$ 12.39 billion to US$ 703.5 billion in the two weeks to June, 2014. The WSS
reflected that bank deposits rose by US$ 3.24 billion to US$ 975 billion in the two week
to June. In 2009, there were 21 IPOs that raised US$ 4.18 billion as compared to 36
IPOs in 2008 that raised US$ 3.62 billion.

As per the statistics of RBI, aggregate deposits grew by 3.3% on q-o-q basis in quarter ended
June 10 as against 5.1% during the same period last year; reflecting the relatively lower rates in
term deposits.

NON-BANKING FINANCIAL COMPANIES

Non-banking financial companies (NBFCs) are fast emerging as an important segment of the
Indian financial system. It is an heterogeneous group of institutions (other than commercial and
co-operative banks) performing financial intermediation in a variety of ways, like accepting
deposits, making loans and advances, leasing, hire purchase, etc. They raise funds from the
public, directly or indirectly, and lend them to ultimate spenders. They advance loans to the
various wholesale and retail traders, small-scale industries and self-employed persons.
21
NBFC are present in all competitive fields such as, vehicle financing, housing loans, leasing,
hire purchase and personal loans financing etc. NBFC's are not required to maintain cash
reserve ratio (CRR) and statutory liquid ratio (SLR). Priority sector lending norm of 40% (of
total advances) is not applicable to them. While this is at their advantage, they do not have
access to low cost demand deposits. As a result their cost of funds is always high, resulting in
thinner interest spread. But currently with surplus liquidity in the system, the cost of funds for
NBFC's has substantially eased thus improving their margins. Gradually, they are being
recognized as complementary to the banking sector due to their customer-oriented services;
simplified procedures; attractive rates of return on deposits; flexibility and timeliness in
meeting the credit needs of specified sectors; etc.

On regulatory front, NBFCs have been classified into 3 categories:

 Those accepting public deposits

 Those not accepting public deposits but engaged in financial business
 Core investment companies with 90 per cent of their total assets as investments in the
securities of their group/ holding/subsidiary companies. The focus of regulatory
attention is on NBFCs accepting public deposits.

Banking Services

According to the world's largest rating agency, Standard & Poor (S&P)'s Ratings Services,
India's banking system has a high level of stable, core customer deposits supported by the
system's good franchise, extensive branch networks, and large, yet growing, domestic savings.

 According to the Reserve Bank of India (RBI)'s 'Quarterly Statistics on Deposits and
Credit of Scheduled Commercial Banks', September 2011, Nationalized Banks, as a
group, accounted for 52.2 per cent of the aggregate deposits, while State Bank of India
(SBI) and its associates accounted for 21.8 per cent. The share of new private sector
banks, Old private sector banks, foreign banks and Regional Rural banks in aggregate
deposits was 13.7 per cent, 4.8 per cent, 4.6 per cent and 2.9 per cent, respectively. With

22
 respect to gross bank credit also, nationalized banks hold the highest share of 51.6 per
cent in the total bank credit, with SBI and its associates at 22.1 per cent and New
Private sector banks at 13.8 per cent. Foreign banks, Old private sector banks and
Regional Rural banks held relatively lower shares in the total bank credit with 5.2 per
cent, 4.8 per cent and 2.5 per cent, respectively.

 Another statement released by the RBI stated that bank deposits grew 13.4 per cent to
Rs 60.72 trillion (US$ 1.18 trillion) in the fiscal 2011-12 (the year to March 23, 2011)
while loans and advances grew 17.08 percent to Rs 47.54 trillion (US$ 927.16 billion).

Foreign Institutional Investors in India

 According to the data released by Securities and Exchange Board of India (SEBI),
net investment in equities made by foreign institutional investors (FIIs) stood at Rs
47,935 crores (US$ 9.34 billion) during the financial year ended March 31, 2012.
During the reported fiscal, foreign fund houses injected Rs 49,053 crores (US$ 9.56
billion) in the debt market taking the collective net investments by FIIs in stocks and
bonds to Rs 93,725 crores (US$ 18.26 billion).

Government Initiatives

 In its Budget for 2013-14, the Government has earmarked a capital of Rs 15,888
crore (US$ 3.11 billion) to be infused in public sector banks, regional rural banks and
other financial institutions. Apart from this, the Government is also planning to set up a
financial holding company that will raise funds for public sector banks.

 Furthermore, the RBI has liberalized regulations pertaining to FCAs to provide

operational flexibility to Indian entities making overseas direct investments. After
satisfying stipulated requirements and conditions, Indian entities can open, hold and

23
Road Ahead

 According to a report by the Boston Consulting Group (BCG) India, prepared in

association with a leading industry organization and Indian Banks Associations (IBA),
Indian banking industry would be the world's third largest in asset size by 2025 and
mobile banking would become the second largest banking mode after ATMs.
Furthermore, owing to the positive eco-system of the industry and regulatory and
Government initiatives, mobile banking is anticipated to enhance from 0.1 per cent of
transactions in a 45 per cent financial inclusion base in 2010 to 34 per cent of the
transactions with 80 per cent rural inclusion base by 2020, as per the report.

24
3. Review of literature

Theoretical framework

Bajaj Finserv, a diversified non-banking finance company (NBFC), has launched online
personal loans for high net-worth individuals, with a ticket size between Rs1 lakhs and Rs 25
lakhs, where approval is said to happen in a timeline of five minutes and disbursement within
the next 72 hours.

The product is advantageous to target customers. Most of them being corporate employees do
not have the time to visit bank branches to apply for loans, or else hold meetings with the sales
persons. The expected ease and speed would be an edge for the product. Besides the issue of
time, customers would be saved from miss-selling and miss-quoting, a rampant practice in the
financial services industry currently.

The factor to be careful about is the interest rates charged online. That needs to be compared
with the offline offers since you would not get a chance to negotiate online. The other issue
that customers might face would be the cross-selling of other financial products. It may
become frequent enough, to the distaste of customers.

Although banks have the online facility of applying for personal loans online, it is mainly
designed to generate a lead. The sales person gets in touch with you and you get to do the same
documentation like you would have done had you applied offline—by visiting a branch or else
fixing up a sales meeting. Applying online only saves you from the initial visit or meeting.

With Bajaj Finserv’s online personal loan, the complete application will be filled online an e-
approval will be generated instantly. Once that is done, the disbursement will take place within
the next 72 hours of your submitting the documents.
Bajaj Finserv Notches Up Gains In June Quarter
25
The results press release of Bajaj Finserv states that the challenging environment that has
prevailed in the last fiscal continues till now. But the results of the company belie this fact, as
the company has fared very well for the first quarter of fiscal 2014.

On a consolidated basis, its gross revenues for Q1FY14 went up by 7% on a Year on year basis
and came in at Rs 3465 crores as against Rs 3252 crores for the same quarter last fiscal. The
bottom line also improved by a stupendous 43% on a yearly basis to stand at Rs 279 crores as
against that of Rs 195 crores in Q1FY13. All the businesses of the company including Bajaj
Finance, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance have contributed to
the bottom line.

The PAT of Bajaj Finance, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance
came in at Rs 176 crores (up 27%), Rs 100 crores (up 56%) and Rs 115 crores (up 55%). This
has added up to make for some strong profits for the company.

 The performance of the company makes a persuasive case in favour of adding this stock
to one’s portfolio. However, looking at the volatile state of the market, it is advisable to
buy in a staggered manner.
Billing: -Billing is the important and first step of T2C because starts with Login date but
it counts from the billing date to QDP.
 Ageing: Ageing is the Time between Login to QDP How much time taken (days) to
payment of Dealer is called Ageing.
 Stock: required list of resources match with available resources means stock is reserved
resources of the product to supply our customers.
 Focus: Focus is most important key of T2C to maintain in systematic and effecting
manner if we focus on customers and company PAT (profit after tax), all concern about
our business that how we focus on customers to convert their need in cash by company.
 Process: The shape of process for scalability and efficiency, operation should be
executed in step by step because step by step execution is the best thing to complete all
the process in without error like
 Login Pre approval Post approval QDP HO Pune
 Execution: Executes all the process and achieve objectives with less effort in efficient
and effective manner.
 Customers: Confront with their needs and offer them solution as product or win their
trust & money, expand sales capacity through proper channel.

26
  Outsmart: Outsmart is the business book it aims to educate managers and business
owners how to achieve successful differentiation without being imitated.

Steps of Time TO Cash (T2C).

Step1- INVOICE to DO. - Here the invoice is generated by the dealer. And the first step of
T2C begins. And then delivery order (DO) is prepared. And customer is left with the product.
This is a post approval process.

Step2- DO to DM- here the disbursement memo is prepared.

Step3- DM to FILE inward –in this after preparing the disbursement memo (DM) the file is
sent to the branch office for qdp quick disbursement memo.

Step4- QDP to file outward- here after quick disbursement the file is sent to main branch of
pune.

TITLE

A potential cash machine

AUTHOR(S) Subramaniam, Arun

PUB. DATE June 2012

SOURCEFinanceAsia; Jun2012,

SOURCE TYPE Periodical

ABSTRACT
The article focuses on the emergence and growth of the Bajaj Finserv, a new company in financial services
industry in India, under the leadership of Sanjiv Bajaj, an engineer. It informs that the company is diversified,
well capitalized and soundly managed as it owes its success to its growth in retail industries. It also informs
that the focus of the company is on the customers of retail industries as it has trained its agents to sell wider
range of insurance products.

TITLE

Bajaj Finserv sacks some senior officials who were cutting deals to mask loan defaults
PUB. DATE June 2014
SOURCE
FRPT- Finance Snapshot;6/15/2014,

27
SOURCE TYPE Industry Profile

DOC. TYPE Industry Report

ABSTRACT
The article reports that the Indian financing company Bajaj Finserv Ltd. has fired some of its senior executives
who were cutting deals to cover loan defaults. It states that two senior officials of the group company Bajaj
Finance Ltd (BFL) were fired, while three other employees left the company. It mentions that the irregular
transactions of the officials which aimed at showing the borrowers' accounts had bounced.

TITLE

EMI Finance App For Pre-Approved Loans

PUB. DATE November 2015
SOURCE Business World; 11/3/2015, p1
SOURCE TYPE Periodical
DOC. TYPE Product Review
ABSTRACT
The article offers brief information on the Bajaj Finserv Experia equated monthly instalment (EMI) finance
app.

TITLE

Bajaj Finserv Launches India's First Consumer Durable Finance App With Instant Loan Approvals

PUB. DATE-October 2015

SOURCE Trak.in;10/30/2015, p1
DOC. TYPE Article
ABSTRACT
The article reports on the launch of India's first easy monthly instalment (EMI) finance app from consumer
durable finance company Bajaj Finserv. It says that the consumers will find the app useful for buying items,
including smartphones, furniture, and televisions, on EMIs. Comments from Bajaj Finance Ltd.'s chief
executive officer (CEO) Rajeev Jain are provided.

28
 4. OBJECTIVES

 To find the current average T2C of each counter and individual.

 To find what are the reasons for increase in T2C.

 To reduce the time to cash at counter.

 To suggest and help in improvement to the process.

29
5. RESEARCH METHODOLOGY

Method of research-
Observation method-. In this the process of time to cash and how the sales executive
and the sales manager work was observed. Whether they were working and preparing the
file on time allotted or given to them. The process was followed or not one after another.
Questionnaires method- This method included questionnaire which was asked to the
sales executives at counters of Bajaj finserv.

Type of research-

Descriptive research- Descriptive studies are under taken in many circumstances. When the
researcher is interested in knowing the characteristics of certain group such as age, gender,
occupation, educational level or income, a descriptive study may be necessary. Other cases
when a descriptive study could be taken up are when researcher is interested in knowing the
proportion of people in a given population who are aware and are interested in consumer
durable finance.

Data type- Primary Data:

Primary data is that which is collected by sociologists themselves during their own research
using research tools such as experiments, survey questionnaires, interviews and observation.

Primary data can take a quantitative or statistical form, e.g. charts, graphs, diagrams and tables.
It is essential to interpret and evaluate this type of data with care. In particular, look at how the
data is organised in terms of scale. Is it organised into percentages, hundreds, thousands, etc. Is
it a snapshot of a particular year or is it focusing on trends across a number of years?

Primary data can also be qualitative, e.g. extracts from the conversations of those being
studied. Some researchers present their arguments virtually entirely in the words of their
subject matter. Consequently the data speaks for itself and readers are encouraged to make
their own judgements.

Primary data is the data collected by the researcher himself. I have used the following sources
of data in this project work.

30
  In my research the primary data collections was mainly done through the questionnaires
to sales executive, I meet the respondents personally & requested to answer my
questions for the requirement of my study.

Secondary data:

Secondary data is data collected by someone other than the user. Common sources of
secondary data for social science include censuses, organisational records and data collected
through qualitative methodologies or qualitative research. Primary data, by contrast, are
collected by the investigator conducting the research.
Secondary data analysis saves time that would otherwise be spent collecting data and,
particularly in the case of quantitative data, provides larger and higher-quality databases that
would be unfeasible for any individual researcher to collect on their own. In addition, analysts
of social and economic change consider secondary data essential, since it is impossible to
conduct a new survey that can adequately capture past change and/or developments.
 Previous research
 Data collected from store
Web information

Data Collection tools -- The data was collected through questionnaire and data given by
the branch office.

Sampling plan – Non-probability sampling plan.

Sampling Unit-- The sampling unit were all respondent where the sales executive
of Bajaj finserv lending.

Size- Since my research work is entirely based on descriptive design .I have used
the sample size as 30.

Dealers covered

 GREAT EASTERN APPLIANCES

 KHOSLA ELECTRONICS
 RELIANCE RETAIL LIMITED
 SALES EMPORIUM
Sample unit- The sampling unit were all respondent where the sales executive of Bajaj
finserv lending.

Sampling method- Non probability convenient sampling is used.

31
 ACTION PLAN

 Understanding what is T2C.

 Identify lowest T2C store.

 Selecting the counter with lowest T2C. As data given by office of previous record.

 Visiting those stores and interviewing them. Check their way or method of processing
the file.

 To find the problems faced by them.

 Getting questionnaire filled by them so that to find which the most problem faced by
them.

 Making them aware of the value and importance of T2C.

32
 6. DATA ANALYSIS RESULTS AND INTERPRETAION
1. Knowledge about T2C. In different stores of dealers?
Table no-6.1
Serial no. Particulars No. of respondents %
1 Yes 27 90
2 No 3 10
Total 30 100

Figure no-6.1

yes
no

27

Sales Executives have knowledge about T2C, but very few sales executives those who were
freshers they do not have knowledge about T2C.

33
2. What is the reason of increasing T2C days?

Table no- 6.2 reason for increase in T2C

Serial no. Reason Yes No
1 Files pendency 5 25
2 Unavailability of 7 23
stock
3 Seasonal pressure 24 6

Figure no. 6.2

30

25
25 24
23

20

15 yes
no

10
7
6
5
5

0
file pendency unavailability of stock seasonal pressure

Through the above data collected the results which came out was that the major reason for
increase in T2C was due to seasonal pressure.

34
2. Do you have any problem regarding manpower?

Table no-6.3 Problem regarding manpower

Serial no. Particulars No of Respondent %
1 Yes 8 26
2 No 22 73
Total 30 100

Figure no- 6.3

problem regarding manpower

yes
no

22

This graph shows that in many stores have problem regarding manpower. Many of the
counters faced manpower problem during festive season. And during summer season.

35
4. Does everyone in your team know about T2C?

Table no 6.4 No. of member know T2C in a Team

Serial no. Particular No.of Respondent %
1 Yes 25 83
2 No 5 17
Total 30 100

Figure no 6.4

Column1

yes
no

25

This graph shows that in few stores the sales executive didn’t knew about the process of T2C.
They were fresher’s and didn’t knew much about the process.

36
7. Conclusion

The entire two months of the internship was a learning experience. A lot of ups and downs
came in the path of project completion but the end results were very promising. Company
seems to be doing quite well and its customer’s base seems satisfied. It has a lot of potential in
this sector only if it is able to tap the untapped market and do more market penetration.

This can be brought about by promoting its products and services and making people more
aware of the benefits of. Also it can have some flexibility in its procedures so that the
consumers feel more at home with the company. The company and the process of completing
the file can be easier if the sales executive and the managers cooperate each other in their
work. The managers must know the problem of their sales executive and the problems arising
the stores of Bajaj finserv. I came to know about the work culture in Bajaj finserv through this
project. There were too many learning like how manage your employees and manage them and
help them is working.

According to collected data Reliance T2C is best as compare to others players of Kolkata
because Reliance digital do online Do everything and their dealers provides all requirement
resources which a FOS need at approval to quick response they provided printers and others
things which makes quick response to approval and billing of customer.it should be in all
stores as reliance to make faster process.
The most important thing is most of FOS response about T2C days reason is these are seasonal
pressure document pending unavailability of stock ,invoice generation late and getting late
there are so many reason I got it which really effecting T2C strictly.

According to collected data and information Total login march to June month is 1, 10,485 but
according to month of march April and may total disbursement 71731 except month June still
T2C increasing because of files pendency but in this graph u can see that most of files
disbursement have done with spilled out of last month in Aril also somewhere its maintaining
T2C also.

According to this figure total sample size is 30 in which visited store 12 of Khosla Electronics,
7 of Reliance digital and 7 of Great Eastern Appliance from all the stores I got positive
feedback but a few responses were unsatisfied.

That different stores have difference in period of time taken by them to prepare the file. The
least no of time taken by the reliance store and small stores .reliance store takes the minimum
no days to prepare the files because of its technology.
37
8. Limitation

 Time provided to complete the project was only 60 days

 Project limited to selected area and dealer of Kolkata only.
 Time provided to complete the project was only 60 days
 Sales executive are randomly chosen and sample size is less for survey.
 Sometimes sales executive use to give wrong information during survey

38
 9 Recommendation

 Most of the problems were regarding documentation and serial no issue. So according
to me I would like to suggest that FOS should check and ask all the documents before
approving the customer or giving them finance.
 For serial no validation issue the dealer has to take initiative to provide the correct serial
number. And only the serial no of the product which has been delivered.
 As many of the FOS are new. They need to be trained more. According to me there must
be some meeting and problem solving sessions for all FOS of different counter once in a
week or month. And should be given to ask their questions and discuss their method or
style of selling the product to each other.
 The FOS should always need to be motivated. Some small reward should be given them
to keep motivating them so that they work on time for rewards.

39
 Questionnaire
1. Name of the FOS?

2. Name of the counter?

3. Do you know about T2C?? .

4. No of FOS?

5. Average No of files completed in a day?

6. No of new customer or without EMI card of last 1 month?

7. No of EMI card customer of last 1 month?

8. No of maximum days taken to complete the process?

Below 4

9. Average No of log in or sales done per day?

10. Average No of DM and DO done per day?

11. Are you aware of all the scheme?

40
12. Do you have problem regarding manpower?

13. Does everyone in your team know all the process of T2C? yes

14. What are the problems faced by you for delay or increase in T2C?
1.
2.
3.
4.
5.

15. How to you solve the problem? Regarding documentation, scheme or

serial no. issue. ?

41
 Bibliography
 Book:
 C.R.KOTHARI Research methodology, new age international publishers.
 Srivastava T.N., (2011), Business research methodology, Tata McGraw - Hill Education private
limited.

 Online References:
 WWW.Bajajfinservlending.in
 WWW.Slideshare.com
 WWW.Salesforce.com
 WWW.EBCO.COM

 News Paper:
 Economic Times
 Times of India

42