From

Vasai college of Science and Technology

ACKNOWLEDGEMENT
It is said, the most important single word is “WE” and the zero important single word is
“I”. This true even in today·s modern era. It is absolutely impossible for a single
individual to complete the assigned job without help and assistance from others. It is my
greatest pleasure to acknowledge sincere gratitude towards Mr. Balwinder Singh (Branch
Head), Mr. Ashwani Bhardwaj (Sr. Relationship Manager) and Mr. Raman Kumar Saili
(Project Head) Religare Securities Ltd. Mohali, for the completion of the project work. I
would also like to acknowledge to my sincere gratitude to our university faculty for
helping me in this project work. I am thankful to all of my friends and batch mates for
their help in completing this project work. Finally, I am thankful to my entire family
members for their great support and encouragement.

Declaration
I hereby declare that this report on CUSTOMER RELATIONSHIP MANAGEMENT
AT RELIGARE SECURITIES LTD. has been written and prepared by me during the
academic year 2010-2011. This project was done under the guidance of Mrs . Nisha
Idrishi (Lecturer for Customer Relationship Management)

Place: Mumbai
College Name : Vasai College of Science and Technology.
Mumbai University .

TABLE OF CONTENTS
• Rationale of the Study.
• Objectives of the study.
o Title of the project
o Objective of the study
o Scope of the study
• Profile of the company.
• Review of Literature.
• Research Methodology
o Research Design Data Collection Methods / Sources
o Sampling Plan which should include sampling unit, sampling size and
sampling methods viz. questionnaire methods interview methods
observation etc.
• Data Analysis and interpretations using various charts and graphs
• Findings
• Limitations (if any)
 RATIONALE OF THE STUDY
RATIONALE OF THE STUDY
Customer Relationship Management (CRM) is a business approach which recognizes
the importance of customers as the driving force behind the success of failure of any
business. It enables the business organization to maintain, analyze and act upon the
information which the business identifies as relevant to improve its relationships with the
customer, and thus enhance its chances of success. Customer Relationship Management
(CRM) helps companies improve the profitability of their interactions with customers
while at the same time making the interactions appear friendly through individualization
and personalization of services. This management includes Data Mining with the help of
which Customer Life Cycle can be managed well in Acquiring new customers, increasing
value of the customers, retaining good customers.

The basic steps of Data Mining for effective CRM are:

1. Define Business Problem
2. Build Marketing Database
3. Explore Data
4. Prepare data for modeling
5. Build Model
6. Deploy model and results The company can then use the information to learn
about the behavior of its customers and improve the way it does a business. It can
look at recurring complaints from multiple customers to solve a problem which
would otherwise go unchecked with a normal formats and management system of
the company.

The main objective of my project is to find effective solution for the Customer
Relationship Management and accordingly increase the credibility and profitability of the
company. This study is more related to consumer behavior and perception about the
facilities and convenience provided by the company, Customer Satisfaction is emphasized
in this management.

1. Helping an enterprise to enable its marketing departments to identify and target

their best customers, manage marketing campaigns with clear goals and objectives,
and generate quality leads for the sales team.

2. Assisting the organization to improve telesales, account, and sales management by

optimizing information shared by multiple employees, and streamlining existing
processes (for example, taking orders using mobile devices) o Allowing the
formation of individualized relationships with customers, with the aim of
 improving customer satisfaction and maximizing profits; identifying the most
profitable customers and providing them the highest level of service.

3. Providing employees with the information and processes necessary to know their
customers, understand their needs, and effectively build relationships between the
company, its customer base, and distribution partners.
 OBJECTIVE OF THE STUDY

A. Title of the project:

Customer Relationship Management (CRM) with Religare Securities

B. Objective of the Study:

The objective of the project was to analyze ³Effective Customer Relationship
Management´ for Religare Securities Ltd. Mohali for that we have to understand
current CRM System and Services provided from the company and its effect on
Customer Needs, Satisfaction Level, their response and emotions. The objective of
this study to analyze existing customer satisfaction as those customers are the key
sources to new customers with respect to the performance, sales efforts and sales
service.

As the company stands second in India in aspect of turnover after Kotak Mahindra
Securities, it’s clear that it has very strong Customer Relationship Management
System and perfect people to handle it properly for the benefit of customers and
company as well. Actual and personal meeting with existing customers and
employees has brought me to the reality of the effectiveness of the system and
their success. For analyzing the same factor I staked my whole duration of the
project and simultaneously for internal study and market watch and other group
assignments.

Questionnaire is based on the existing services and the satisfaction level of the
existing customers which includes questions like Name, Age, Gender, Income,
Investment Frequency, feedback about services which they are provided like
conformation, calls, suggestions, solutions on stuck money like dead investment
and all.

On an average all the customers are happy with the company and look forward to
the growth of it.

C. Scope of the study:

Scope the this study is it will assist Religare to get its own Customer Relationship
Management system mirror well and it will get all the important things before eyes
to apply all the possible ways to provide a superb service to the customers and
accordingly make them loyal and retain them long lasting and also to get new
customers to be served.

Scopes can be stated in few points as follows.

• Maintain current / existing customers.

• Achieve new potential customers.
• Retain all the customers.
• Profitability Increment
• Reputation and credibility Increment, etc.

The heart of CRM is not being customer centric but rather to use customer
profitability as a driver for decision making and action. Before exploring this
assertion, it is useful to review the process of resource allocation as it is practiced
in most organizations. The budget process largely consists of an extrapolation of
the past. Resource constraints pit function against function with back room deals
that are based on internal politics versus the marketplace. This decision process has
little insight as to what is working and what is not working (as it applies to the
marketplace) or for that matter why? Without insight relative to cause and effect,
the organization has no choice but to follow intuition and anecdote. It is analogous
to the story about the marketing VP who admitted that half the advertising budget
was wasted; the problem was he did not know which half.
 PROFILE OF THE COMPANY
Religare Enterprises Ltd.

Religare Enterprises ltd (REL), incorporated in 1984 and promoted by RANBAXY

(now by Mr.Malvinder Singh and Mr. Shivinder Singh), is the holding company of 11
subsidiaries. It is among the leading integrated financial services group in the country
today. Religare is a diversified financial services group of India offering a multitude of
investment options. Each of its subsidiaries is engaged in a wide spectrum of financial
products and services targeted at retail, highnet worth individuals, corporate and
institutional clients.
The services offered by the group include Share Broking, Financing loans against shares,
IPO financing, distribution of Mutual funds, Insurance Broking, Commodity broking,
Wealth Management, Advisory Services, Private Equity, merchant banking and trading in
arts and articrafts. The major revenue drivers for the company are its retail equity broking
arm Religare Securities and Religare Finvest, which finances loans against shares.
Religare has been constantly innovating in terms of product and services and to offer such
incisive services to specific user segments it has also started the NRI, FII, HNI and
Corporate Servicing groups. These groups take all the portfolio investment decisions
depending upon a client’s risk / return parameter.

Religare has a very credible Research and Analysis division, which not only caters to the
need of our Institutional clientele, but also gives their valuable inputs to investment
dealers.

RSL is a member of the National Stock Exchange of India, Bombay Stock Exchange of
India, Depository Participant with National Securities Depository Limited and Central
Depository Services (I) Limited, and is a SEBI approved Portfolio Manager.

Our Brand Identity

Name
Religare is a Latin word that translates as 'to bind together'. This name has been
Chosen to reflect the integrated nature of the financial services the company offers.
The name is intended to unite and bring together the phenomenon of money and
wealth to coexist and serve the interest of individuals and institutions, alike.

Symbol
The Religare name is paired with the symbol of a four-leaf clover. The four-leaf
Clover is used to define the rare quality of good fortune that is the aim of every
financial plan. It has traditionally been considered good fortune to find a single
four leaf clover considering that statistically one may need to search through over
10,000 three-leaf clovers to even find one four leaf clover. Each leaf of the four-
leaf clover has a special meaning in the sphere of Religare.

The first leaf of the clover represents H ope. The aspirations to

succeed. The dream of becoming. Of new possibilities. It is the beginning of every
step and the foundations on which a person reaches for the stars.

The second leaf of the clover represents T rust. The ability to place
one’s own faith in another. To have a relationship as partners in a team. To
accomplish a given goal with the balance that brings satisfaction to all not in the
binding but in the bond that is built.

The third leaf of the clover represents C are. The secret ingredient that
is the triumph of diligence in every aspect. From it springs true warmth of service
and the ability to adapt to evolving environments with consideration to all.

The fourth and final leaf of the clover represents G ood F ortune.
Signifying that rare ability to meld opportunity and planning with circumstance to
generate those often looked for remunerative moments of success.

H opes, T rust, C are, G ood fortune. All elements perfectly combine in the
emblematic and rare, four-leaf clover to visually symbolize the values that bind
together and form the core of the Religare vision.
 VISION & MISSION
Company’s Vision
Providing integrated financial care driven by the relationship of trust and
confidence´.

Company’s Mission
To be India's first Multinational providing complete financial services solution
across the globe´.

Brand Essence
Core brand essence is Diligence and Religare is driven by ethical and dynamic
processes for wealth creation´.
 LITERATURE REVIEW

Literature Review
Historical Background:

Customer relationship management (CRM), a concept that has been around since the
mid 90s, has its roots in the technology of sales automation and call center operations. At
that time, it was thought that merging the customer data from the field (sales) with the call
center interactions would result in more informed interactions with the customer. The
concept resonated with user organizations and soon mergers and acquisitions created a
host of software vendors all claiming to have an integrated set of capabilities that became
known as CRM.

On a parallel track, Internet-based tools such as e-commerce, Internet marketing,

personalization, and self-help were evolving. These products competed outside of the
CRM sphere due to the newness of the technology, and they were referred to as e-
business. When the concepts of CRM and e-business melded together there was a short
period of emadness where vendors talked about eCRM and e-everything. There are still
vestiges of this transition in the industry such as essentially using ebusiness to add value to
vendors and referring to it as partner relationship management (PRM) or providing tools
for employees and referring to it as employee relationship management (ERM).
Similarly, enterprise resource planning (ERP) vendors realized that the 360-degree view
of the customer has to include transaction data, so they have likewise developed an
integrated package with CRM capabilities. Thus from a technology perspective CRM
consists of a set of applications that address the needs of customer-facing functions that in
turn feed a common database that is supported by business analytics. Each vendor has
variations on this theme.

On the other hands, CRM can be defined as a process or methodology used to learn more
about customers’s needs and behaviors in order to manage and develop stronger
relationships in an organized way with them.

Components of CRM:

1. Contact an Account Management: Relevant data for customer profile is captured with
the help of the software. Necessary information is captured from prospective customers.
CRM system stores data in common customer database. The database integrates customer
account information and presents it in desirable format to the company. The data is used
for sales, marketing, services and other applications.
2. Sales: Sales process management follows a customized sales methodology with specific
sales policies and procedures. Sales activities include ± Product information, Product
configuration, sales prospectus and sales quote generation. CRM also provide the history
of customer account so that the sales call can be scheduled accordingly.
3. Marketing and fulfillment: CRM helps the professionals in product marketing, target
marketing, relationship marketing and campaign management. By analyzing customer and
business value of direct marketing can be estimated. CRM also helps in customer
retention, behavior prediction, channel optimization, personalization. Customer response
and requests can be quickly scheduled and hence sales contacts.

4. Customer Service and support: CRM system provides service representatives with
adequate access to customer database. It also helps to create, assign and manage the
service requests by customers. Calling format is designed to route customer calls to
respective attendants as per the skills and authority to handle special cases. Help desk
system is developed to help customer service representative to help customers who face
problems with product or service to resolve it. Web-based Self Service means help
customer to access personalized information at company website.

5. Retention and loyalty programs: The primary objective of CRM is to enhance and
optimize customer retention and loyalty. CRM systems are also useful in determining
most loyal and profitable customers and reward. The essential link between Marketing,
Sales and Customer Service: Too often, the three key functions that directly affect
customers -Marketing, Sales and Customer Service ± operate independently of one
another. This can create confusion and inconsistency in how you communicate and service
your customers.

For examples, marketing staff may come up with a price promotion. However, if that is
not communicated to the sales team, the result could be incorrect billing, which may take
time or resources from the customer to rectify and could create ill will and mistrust,
making it seem like your company does not adhere to its word. Similarly, if a salesperson
makes a sale and gives certain guarantees to a customer but those are not communicated to
the customer service team or even to the other sales team members, then the customer may
fees as if the company is not standing behind its assurance. This can be particularly
problematic if there is employee turnover and poor communication between or even
departments. This Äsilo effect ± where information is between vertically in departments
that may or may not communicate with each other- could actually damage your business.
With comprehensive CRM system, however, customer communication is captured and
housed in an accessible database, making the most current information available to anyone
who needs it and has access to the system. By breaking through barriers between various
business functions and making communication transparent, your company can act in a
more consistent and unified fashion with its customers, instilling a greater level of trust
and strengthening customer relationships. Religare Securities Limited (RSL) provides a
host of financial services under one roof following a ONE STOP SHOP philosophy. It has
a dedicated team of professionals to cater to the variety of services to Individuals,
Corporate and Institutions. The team updates its clients with opportunities - with a sense
of competitive urgency and risk management. What s more, their special analysts design
customized services for HNI and Institutions. Over the years Religare Securities Ltd. has
played a successful role in client's wealth creation. In the process Religare Securities Ltd.
also refined itself, as an investment advisor and is poised to provide complete Investment
Management Solutions to its valued clientele.

The following is the product profile of the company.

• Equity Broking - BSE and NSE

• Derivatives Futures and Options
• Internet Broking- Online Trading
• Commodities Trading - NCDEX & MCX
• Institutional Broking
• Depository Services - NSDL & CDSL
• Portfolio Management Services
• NRI Investments
• Initial Public Offerings (IPO)
• Mutual Fund Investment
 Research Methodology

Research Design:

Research design means adopting that type technique of research which is most suited for
the research and study of the problem. For the study and the research of the problem
proper material has to be selected and collected for the investigation. ³A research design is
the arrangement of conditions for collection and analysis of data in a manner that aims to
combine relevance to the research purpose with economy in procedure.´ - Jahoda, deutish.
Cook. In order to know about effectiveness of Customer Relationship Management in
Religare Securities Ltd., it was necessary to interact with the customer. The sample taken
comprised of respondents from Pune city. A questionnaire had to be designed to collect
valuable information from the different customer groups. The questionnaire which was
designed suitably to meet the objective of research work.

Nature of Research:
In this project report I have undertaken quantitative type of study.

Type of the questions:

The questions in the questionnaire asked to the visiting customers of Religare Securities
Ltd, Regional office in Pune, are Straight Forward and Limited Probing.

Type of the Questionnaire:

The questionnaire in this project report is straight forward and formalized.

Type of Analysis:
The analysis done in this particular project report is statistical.

Sources of Data:
a. Primary Data: The Primary data are those data which are collected fresh and for the
first time and thus happen to be original in character. The primary data that was collected
through interview conducted in Regional Branch with daily visiting customers. The
primary data sources include copies of questionnaire and data of their respective
responses.

b. Secondary Data: The secondary data are those which have already been collected by
someone else and which have been passed through the statistical process. Secondary data
was collected through company websites. Some of the web sites
http://www.religaresecurities.com/ and some others like.
 Primary Data Collection

Research Technique: As the researcher, I adopted survey method as a research technique

for this particular project report. Contact Method: I as a researcher interviewed the
respondents by personal interview.

Sampling Plan:

a) Population: The population covered in this project report refers to the existing (Office
Coming) customers of Regional Office, who have their trading and D mat A/c with
Religare Securities Ltd.
b) Sample Size The sample size undertaken by me for this particular project report is 100
respondents.
c) Sample Element The respondents contacted and interviewed in this project report are
all from different domain some of them were Businessmen, High Net-worth Investors,
Proprietors, even Students also invest in Share Market.
d) Sample Extent As a researcher, I conducted this survey only for the customers in
Regional Office of Religare Securities, Mohali.
e) Sample Duration The survey was undertaken from the 01st June, 2010 to 15th July,
2010.

f) Research Instrument: Questionnaires containing both open ended and close ended
questions were used as a research instrument in this particular project report.
 Data Analysis & Interpretation

Data Analysis & Interpretation

1. Respondents

Interpretation: Above pie chart represents that research contains 100 respondents which
are Businessmen, HNIs, Proprietors and Individuals and they are 30, 8, 24, 38 respectively
in numbers and percentages.

2. Income Group(Annual):

Interpretation: Above pie chart represents that the research contained 100 investors and
customers of Religare Securities Ltd. All the people were from different different Income
group which are in numbers shown above. W e can clearly see sample includes more
customers from first income group i.e. INR 10,000 ± 1 Lakh

3. Company Interaction via Email and Telephone Calls:

Interpretation: From the above result of Company Interaction via Email and Telephone
calls, we can imagine the satisfaction level of customers and accordingly Customer
Relationship is managed through electronic media to maximize the wealth of customers.
In Religare mostly dealers are in touch of regular traders / customers and customers also
get loyal to the company through this practice. Every call is taped by default for the
evidence of orders to buy or sell the stocks and Emails too.

4. Do you find company s investment tips useful and beneficial?

Interpretation: When it was asked sudden and on the time answer was the same of
maximum people, it means the credibility and trustworthiness of the company is on the
height. It s nothing but the result of Relationship Management. It is said that Share Market
means ³Well of Loss´, nevertheless Religare’s Customer don’t have any tension in
investing because they believe in Company’s Researchers and Analysts and their
investment tips too.

5. Where do you rate Religare on the scale of 10 in terms of Services?

Interpretation: From the above answers Customer Relationship can be very well
highlighted because out of 100, 43 people have rated Religare on the scale of 1 to 10 and
again in remaining maximum customers say that they rate Religare at on the scale of 1 to
10.Every customer has his own value and consideration about Religare because they
invest their Hard Earned money and take risk to earn more cause of Religare s Services
and Attachment and it is all the output of Customer Relationship Management.
6. Where do you invest/ trade mostly?

Interpretation: One general question was asked in questionnaire to know the investment
flow of customers towards Religare Services. When it was asked why they invest in
specific area mostly then it was answered by many people that liquidity market is easy to
make money out of investment and take money out whenever we feel not to put. And
other reason many customers don t want to invest for long time.And about currency some
people were not interested.

7. Where do you trade mostly?

Interpretation: From the above view of graph we come to know that maximum people,
61% customers trade in Intraday Trading. On this customers say they like to trade in
Intraday because of Short term investment and high level of excitement and sometimes
they feel their money seems to sink. It’s like One Day Cricket play for many customers. In
Delivery, people say here is ³No / Low Risk, More Money´, in this people say if scrip goes
down like ³Satyam´, then also we get chance to book profit buying current stocks in low
price and putting old stock aside temporarily. Here we find people hesitate to invest in
Intraday and confident to trade in Delivery trading. Very less traders population do trade
in both area, for few people it s nothing but fund managing, if one finds difficulty in
making money in Intraday, they simultaneously manage their fund for Delivery, but very
few people feel do this type of management. Eventually Religare is the Broking firm and
it doesn t lose its attention from making money for its customers and lose its attention
from Customer Relationship Management.

8. Do you trade in any other broking firm?

Interpretation: Above pie chart represents the maximum people have their D mat A /c and
Trading A/c somewhere else also nevertheless they say they trade from Religare only and
few of their other A/cs are put Non-Operating by them.

Here we get a fact that Religare s Customer Relationship Management really has
something very attractive and attachable to emotions cause of services. Few of them were
hesitating while answering this question.

9. Are you satisfied with the services provided by Religare?

Interpretation Above chart represents us the output of customer relationship management

with the help of services and customers satisfaction can show a mirror of efforts of the
company towards making their customers loyal to them. 10. Since last how many years
you are in field of trading?
Interpretation:

This question was asked intentionally to know the loyalty of customers with Religare
Securities Ltd., which is nothing but the back-screen coding of on screen output. These all
things are the proud of Religare and its customers are also very proud to be in Religare.

Findings
Customer Relationship Management Business Drivers and Benefits

It empowers management with a real-time pipelines and forecasting so they can build and
focus on high profit, sustainable relationships. It empowers staff wit customer intelligence
and best practices to increase their likelihood of successful transactions. It increases
customer s acquisition, retention, loyalty, and profitability by integrating information
across the enterprise. It enables executive and management to gain customer insight.
Customer Relationship Management Risks Effective internal controls must be in place to
prevent customer information from becoming scattered across databases and servers.
CRM can be associated with significant revenue cycle. CRM should be kept and handled
and carefully kept inside the company only otherwise Customers Database can be misused
by rivals. Customer Common Findings while contacting: Generally people whom I have
contacted they were from different domains like Business, Proprietors, High Net worth
Income Group (HNIs) and students.

Their responses may not be proper because of their ÄBusyness Dealing Room.

in

This data is called Primary Data, which is considered very genuine but is this case it
misrepresents the Reality and Credibility. Some people, its felt that they gave fake
response, with impression that this questionnaire is from Religare Securities internal.
Some people did not take it serious because this was not important to them as they are
busy for trading at dealing Room. Every data interpretation and statistics cannot be think
worthy from their results because this study is for only two months altogether.
 Limitations
Limitations

Findings are according to the observations.

1. Many consultants, vendors, and analysts today define CRM in terms of being a
customer-centric business strategy that is enabled by a set of applications that support
customer-facing functions and management decision making. That may capture the
essence of what CRM is, but while it does not concentrate on the extra expenses occurring
on Company s A/c due to increment in expenses in serving customers all the ways and
Return on investment means consideration may not be more than expected. Customer may
not give that much business transactions which is estimated or expected.

2. It needs specific staffs to handle all the tasks of Customer Relationship Management
because the data that is feed in system cannot be handled merely by Relationship
Managers who has to make new customers and take care of their dealings and also to
accomplish their additional responsibilities.

Suggestions

1. Short Duration: Project research duration was only for six weeks, in this tenure neither
study nor observation can be done properly. For example, we saw sample plan ± in that
only 100 customers could be contacted and now the problem is- from this samples we
cannot think of Macro Level Perception of customers. Many people may be from same
point of view and many may not and those 100 people may not contain these type of
people. So duration of Research Project should be more than two months.

2. Customer Category: To find effective Customer Relationship Management, Broking

firm can do one more thing which will be very beneficial to them in finding Asset
Customers from the bottom level management to top level management. Religare should
adopt system of allotting Customer Categories according to their transactions, due
payments, exposure, loyalty, frequency of trading and all. In this system at all the level
where CRM is handled and watched by Top class officials of the company, they also get
to know the list names and details of the loyal customers and CEO or Board of Directors
also get to know total customers and at last their turnover of the total transaction.

3. Affiliated Awareness Programs: Religare should arrange affiliated programs within

its own groups to come to the sense of new people and accordingly to prospecting and
acquiring new customers. With the help of it companies CRM will help it to get height of
success and dominate the world of Services. Because CRM affects Marketing, Sales and
profitability and these all can be achieved by CRM. For E.g., Religare Securities can play
few awareness documentaries and Advertisement with ³Religare Vistaar´ this will result in
getting more and more customers to serve and accordingly Religare can become the first
ranker in turnover very soon.