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1
INTRODUCTION OF ORGANIZATION
2005
The company came into existence in 2005 which acquired DOVE FINANCE
an 12th December 2005 in bring its operation at PAN India level . The management
capital of this company under foreign direct investment policy 99.99% of the share
SINGAPORE .
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of Fullerton Financial Holdings Pvt. Ltd., a wholly owned subsidiary of the US
Fullerton India operations commenced in January 2006, with a network of branches across
segment of the middle class population of India which has hitherto, not had access to quality
financial services. At Fullerton India, CARE means Compassion, Action and Responsibility
RMM Provide loan to salaried like personal -micro entrepreneur engaged in small
business loan, housing loan, automobiles loans, mort gage loans etc
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BRIEF HISTORY OF THE
ORGANIZATION
to project Singapore, Singapore was then known as TEMSEK the SEA TOWN.
Our parent company, TEMSEK holding incorporated 1974 is one the Asia biggest
Industries, financial service is one of the key focus area of TEMSEK, carrying
2. ICICI BANK
3. CHINA CONSTRUSTION
4. INDONESIA
8. HOLDING IN CHINA
9. FULLERTON INDIA
13. QUINTILES
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Fullerton India is deeply committed to provide quality & financial to the growing
Indian masses
CORPORATION and 1st may 2006 the company partnered with centurion
successfully completed phase -1 branches roll out date. Of the growing Indian
masses.
The Company being in the financial sector provides Loans and financial
proprietorship and Small and Medium companies. To service its customers, the
Company has two major divisions Vyapaar and Parivaar. The Vyapaar division
small business enterprises. The Parivaar division provides Loans and Advances to
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The Company believes in a branch centric community led Relationship based
approach in meeting customer needs rather than using the services of a third party
or a vendor such as Direct Selling Agents. Under the organizational structure, the
Officers who meet customers to understand their business or profession and their
credit requirements. Both the Vyapaar and Parivaar divisions of the Company
Company and the borrower. Loans are granted on the basis of completed
the customers about the terms of their loan, rate of interest, repayment arrangement,
etc. The branch only services customers in a limited area around the physical
customer requirements and is reasonable in all its dealings with customers. The
design of the application forms and the relationship based processes, are to make
sure that the Company is transparent in its dealings and transactions. It is with this
in mind that the Company has set up the following guidelines as a Fair Practices
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Till Date Successfully Completed phase 1 Branch roll out
Date Phase
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Direct Contact with Localized Credit customers Approval System
Dedicated relationship officer Credit approval takes into acts as a single point of
Under the organizational structure the Company has in each of it’s branches. A
their business or profession and their credit requirement. Both the Vyapar and
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FAIR PRACTICES CODE AND GUIDELINES
The current application forms capture full details of the customer – age, profession,
business, office & residential address, income details and other requirements. The
application forms indicate the criteria for minimum and maximum finance available
for personal loans, automobile loans. The application forms specify the
The Company may call for additional documents for verification purposes. The
application forms are numbered and one section of the form is given back to the
terms and a condition by keeping the original agreements signed by the customer
and provides a copy of the Agreement or terms and conditions to its customers.
All applications are verified and processed within a reasonable period of time. All
The applications which do not satisfy the De-duplication or Fraud Check criteria
The terms and conditions of the loan are clearly spelt out in the Loan Agreement.
The Loan Agreement would specify the tenure, the amount of the loan, applicable
rate of interest, the Equated Monthly Installment (EMI) payments and other fees
to the customer. A Welcome Letter is also sent to our customers with Key details &
Repayment Schedule which mentions the EMIs, split by Principal and Interest
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components. In the event that the loan is rejected, the Company would
Customers at the time of disbursement of loan are advised about facilities available
to them and repayments they need to make from time to time. In any event the
Company undertakes to give full details of the loan, its current status, monthly or
quarterly repayments required from time to time on the basis of request made by
the Customers.
The Company would release all the securities to the customer once the loan is
such a request, provided the customer pays interest and all Company dues up to
date.
As far as recoveries of loans are concerned the Company would follow its own
the Company’s collection policy detailed guidelines are laid down for following the
POLICY
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Corporate governance is about commitment to values and about ethical business
conduct. It is about how an organization is managed. This includes its corporate and
other structures, its culture, policies and the manner in which it deals with various
Directors as a group. The Board of Directors performs its duties with the support of
managerial staff.
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governance practices stem from the culture and mindset of the organization. While
practicing good corporate governance the company strives to communicate, all the
truthful manner.
The Company has infused the philosophy of corporate governance into all
its activities. It has adopted 10 cardinal principles in its functioning, such as Team
Work, Open to Change, Integrity & Discipline, Transparency, Care, Risk Adjusted
Returns, Unlearn Old Ways & Learn New Ways, Innovation, Entrepreneurial
Spirit and Passion to Excel which serves as the means for implementing the
company and ensures shareholder protection and maximization of their long term
Company. The Company voluntarily follows the spirit of Clause 49 of the Listing
Agreement, though the said clause is not applicable to the Company it being an
unlisted entity.
written request to the Company Secretary or contact him on 022- 6749 1234.
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CORE VALUE
It's a core commandment around which everything else revolves. Fullerton India
Credit Company Limited has to be seen by all extremely and within the
2. Passion to Excel:
What Fullerton India Credit Company Limited has set out to achieve cannot be
achieved unless all of us have an inner passion to excel individually and as a team.
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When each of our cultivates and nurtures this passion. It will cascade into the
3. Innovation:
implementing it and still look for ways to better what your have just implemented.
It's a continuous process and Fullerton India Credit Company Limited need to keep
4.Open to change:
knows is the only way to do other job. There were some who challenged
Fullerton India Credit Company Limited is off to achieve something that no one has
so far. So Fullerton India Credit Company Limited need to learn new things, new
perspective to some things we know. New views and ideas come from people who
did things differently from you. One has top respect them and build onto them.
6. Care:
Great communities, Great organizations are built around caring for each other. One
has to care for its customers, both internal and external as well as colleagues.
7. Transparency:
the other values like care, teamwork and integrity. It’s the only way Fullerton India
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Credit Company Limited can ensure that all our goals and objectives are perfectly
It’s extremely important for us to evaluate the risks and returns four actions. All
9. Team:
Fullerton India Credit Company Limited will achieve will be achieved as a team
and therefore it is vital to feel as a member of the team that does it. Without
teamwork and alignment within teams it will take a lot more effort to get there.
10. Entrepreneurs:
Fullerton India Credit Company Limited should not view us as employees of this
Fort Fullerton, named after Governor Robert Fullerton, was created to protect
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Our parent company, Temasek Holdings, incorporated in 1974, is one of Asia's
various industries. Financial services is one of the key focus area of Temasek.
branches have been merged and under-performers have been asked to leave."
Another company official said those people laid-off were probationers and in the
first year of their jobs. "Most of these employees were given six to nine months to
develop their skills and were also provided with adequate training. Those who
could not come up the learning curve have been asked to leave".
specializes in lending to the mass market which consists of small & micro
(annual turnover of Rs 2.5 lakh to Rs 1.5 core) and the lower level of salaried
The credit company had 800 branches across the country and employed around
Fullerton India in the last couple of years, the last infusion was made in October
last year.
Fullerton India has disbursed close to Rs 5,000 core since it started operations in
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2006 and has an asset book of Rs. 2,500 core at present. While 70% of its lending
loans to salaried individuals and two-wheeler loans. Most of these loans are
unsecured. The company has an exclusive tie-up with Hero Honda and Honda
operations significantly in the past six months. While CitiFinancial has brought
down its branch network from 450 branches to 170 branches, GE Money has
Fullerton Holdings is also planning the launch of its subsidiary Fullerton Securities,
which will provide retail broking and wealth management services to clients in the
mass affluent segment. The team is spearheaded by Rajiv Kakar, formerly head of
Citibank’s consumer banking business in Turkey, Middle East and Africa and
thereafter member of the board of Visa International for Central Europe, Middle
East and Africa and Pallav Sinha, formerly Head of Wealth Management at
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BOARD OF DIRECTOR
Francis Andrew Rozario
Chairman
Bandra East
Director)
Mr. SN
Menon (IndependentDirector)
Mr. Cheo
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Organization PERFORMANCE
report.
FY05-08
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.
The growth in the retail finance disbursement would be
in FY12.”
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has fallen in absolute terms from 41 million to 31
million.
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Comparison of FULLERTON
INDIA( FICCL) with other
Finance Company
Market Share in %
Agency NO YES NO NO NO
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Our Parivaar branches provide customized
• Secured Loans
• Home Finance
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Unsecured Personal Loans:- are the loans which are
lakh & the tenure for repaying the loan varies from 1
to 5
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documentation & doesn’t take much time to
loan with interest before the due date or not and they
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documentation fee because they increase the overall
This process will help you get the best loan deal
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• Tenure: Tenure is the time frame for the personal
constant.
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The Rate of interest alone should not be judged
when they pay the loan EMIs before the tenure which
amount.
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• Documentation charges: These are the charges for
application:
Identity proof
Residence proof
Salary slip
documents
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Personal Loan Criteria by various banks
repay the loan with interest before the due date. The
1)Self-employed
2)Salaried
application?
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been a default in your loan payment; your loan
credit score.
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Reducing Interest Rate or Flat Interest Rate, which is
better?
loan tenure.
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interest rates as the Flat rate calculation comes out to
be really expensive.
loan.
spouse’s income.
relationship.
gives a green
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Bank Interest Rates
Citibank 16.5%-18.5%
CitiFinancial 16%-21%
SBI 16%-20%
late.
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• Home Finance Home loans are provided based on the
the lowest rates & easy financing can now fulfill the
really??
Asset Products
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facility to transfer your existing higher interest rate
Homes loan
Processing fees Waived
Interest rate Preferential rate of interest
Purpose:
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most of the financial risks involved because it allows
Characteristics:
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payments lower and possibly make your
Target Market
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The target market for the Two Wheeler product
• Salaried individuals
• Self-employed individuals
Locations
Brand
• TVS
• Suzuki
• Bajaj
Asset Types
• Motorbikes
• Scooters
Source of Acquisition
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• Sourcing only through authorized main
allowed)
Branch walk-ins
• Direct marketing
• Cross sell/marketing programs
Negative profiles are same as current programs and
also negative area as
per collection and market feedback captured in zoning
Eligibility Condition
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Two Wheeler Product- Various
Programs Scheme Sheets for Various
Programs
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Now that we are aware of the features of the Two
• IRR
• Interstates
• Tenure offered
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regular banking and average bank balance is equal to
EMI
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•
Two CPA determines the income; 75% of the CPV –
based income is
considered for CFA purpose
•
Maximum tenure is 30 months, EMI is not more than
Rs.2000 ,and
LTV is 70% vehicles ORP
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Product Program – Fast Track
Segment.
locations
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Additional Charges
are applicable
• Prepayment charge: 4%
Fullerton
Wheeler product
• Bajaj Allianz
• ICICI Lombard
Fullerton has tie ups with both Bajaj Allianz and ICICI
Lombard.
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Sampoorna Suraksha Two Wheeler Loans
wheeler Loans
Rs.1, 299.
Rs.1, 599
Product Coverage
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Life Insurance Cover: In case of any unfortunate
Exclusions:
first 12 month
9Critical illnesses:
illnesses.
49
Exclusions:
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For any period of hospitalization and or the
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Sight of any one eye or both eyes or of the
hands
Exclusions:
attempted suicide
liquor or drugs
diseases or insanity
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insured person suffered or which was present
insurance
You have decided to push the boat out and you decide
So, what are the differences and what are the pros and
Secured Loans
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result the lending companies will always make it clear
Unsecured Loans
secured loan.
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for a RS10,000 secured loan compared to a RS10,000
homeowner.
you apply and don't borrow any more than you can
afford.
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• Home Equity Loans:- A home equity
come in two types, closed end and open end. Both are
taxes.
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Difference between a
Credit
rate.
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and non recourse loan, secured and unsecured debt,
property.
asset
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used as collateral and may sell it to satisfy the debt by
secured debt.
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Home equity loan fees
Appraisal fees
Originator fees
Title fees
Stamp duties
Arrangement fees
Closing fees
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Originator fees:- A fee related to establishing your
Examples:
like the sales tax and income tax that are collected by
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you have to face the penalty. Penalty involves fine or
stamped as evidence
loans.
and self-sufficiency.
per annum.
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• The relationship model includes a deep
growth.
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• The business wishes to bring a full service
Relationship Officers.
• Value to customer
standard documentation.
two days.
financial needs
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Chareges for Two Wheeler:-
time
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Auto Loan
Interest rates
Preferential Rate of Interest
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Key components of the Company
process:
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• Our biggest proposition is our customer focus,
customer requirements.
customer.
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• Our branches do business only within a 5 km
Fullerton India
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MAJOR CHALLENGES OF THE
ORGANIZATION
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Challenges in the growth path
process in place
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PART
-2
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INTRODUCTION OF PROBLEM
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Range of services on existing loans & extended
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OBJECTIVES OF STUDY
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To find the preferences of customer
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• To study the Advertising effectiveness in
creating awareness among the public: This
objective will help to judge the effectiveness of
advertising strategy used by Fullerton India to
create the awareness among the potential
customer about the products and services
offered by the company.
STUDY LITERATURE OF
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Products of the Organization:
• Secured Loans
• Home Finance
• Insurance
Competitors:
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• TMFL
STATEMENT OF HYPOTHESIS
hypothesis.
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According to research to performance appraisal in
below:
peer group.
satisfactions of employees.
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Scope of study
Economic needs.
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• Performance appraisal provide needful helping
• Status
• Job Security
• Feelings of Recognition
• Feeling of Achievement
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• Feeling of Possible Growth
• Feeling of Responsibility
• Group Feelings
• Performance Effects
Research design
research.
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A method is specific technique for data collection
MOTIVATION IN RESEARCH
divisions.
appraisal.
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DATA PRESENTATION:-
1- Primary data
2- Secondary data
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Primary Data
collecting data.
Secondary Data
Article 1
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Fullerton India Credit adopts Newgen’s BPM solution
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and imaging system (Omni flow) has met our dynamic
growth.”
near future.
89
targets and establishing a strengthened network in
India.”
90
Newgen Software Technologies Limited is
Review of Article 1:
91
The first review based on the article published in web site
Article: 2
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Fullerton India Credit Company Limited (FICCL) has
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to do this quickly and economically”, said Pramod
Silver Award.
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Management System (DMS),with a global footprint of
Review of Article: 2
95
Awards for Excellence in BPM and Workflow
ANALYSIS OF DATA:-
responses
.
Table 1: Age of the Respondent
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Interpretation: - The respondent of research
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Interpretation: - Second classification of respondent
Occupation Percentage
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Interpretation:- The third important consideration
which helps to identify
That whether the respondent is salaried individual or
small entrepreneurs is occupation. The occupation
comprises of Government Employee, private employee
that fall into salaried individual category and third
component of occupation is Businessman which
indicates small entrepreneurs.
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Interpretation: - This question is asked in order to
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Table 5:- Table of Customers having loan or no
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Interpretation:-The findings reveal that out of the
total respondents
Table 7:- How much loan amount that you have taken?
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Interpretation:-The above findings reveal that out of
the respondents
Having loan, 35% have taken loan of 50,000 or less,
45% have taken loan from 50,001 to 1, 00,000 and the
remaining 20% have taken a loan of 1,00,000 and
above. This parameter gives more knowledge to the
company regarding the probability of default by the
respondents and should be given more weight age by
the company compared to the no. of loans taken by the
respondents while deciding whether to provide loan to
the respondent or not
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Table 8:- Type of loan Customer has?
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Table 9: - Duration of period which the respondent
prefer for paying the
Loan amount?
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Interpretation: - The finding reveals that most of the
respondents (87%) want to take only short term loan
up to 18 months since short term loan carries a
comparatively low rate of interest.
YES NO
67% 33%
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charging by Fullerton India and only 33% are
unsatisfied. But the company should review its interest
rates from time to time in order to be competitive in
the market and to improve customer satisfaction
continually
Findings
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from Rs .2-5 Lakh .Therefore, if Fullerton
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• Fullerton India mostly disbursed loan as
interest
Suggestions
109
The following suggestions have been formulated on
monitor delinquency.
of the customers.
analyzed.
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• FICCL may adopt somewhat lenient procedure
competition.
Financial companies.
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• The company needs to focus more on providing
Company’s Offerings:
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business segments. Fullerton India Credit Company
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Limitatio
n of Liability
.1- These terms and conditions shall be governed by
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2-The Fullerton India Privilege Program shall be
automatically withdrawn.
Summary conclusion:-
work better and show good result. This will help the
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agenda to roll out the system to more
easier for the users to see the data graphically and slice
customers
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PA
RT - 3
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BIBLIOGR
APHY
Research Methodology by
Kothari
(C.R.
Marketing management by
Philip Kotler
Business world
Websites referred:
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• http://www.emeraldinsight.com
• www.icicibank.com
• www.hdfcbank.com
• www.fullertonindia.com
• www.fullertonindia.com
Annexure:-
QUESTIONNAIRE
Respected Sir/Madam,
Name:-________________________
Address:-________________________
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________________________
________________________
A. 18-28yrs
B. 28-38 yrs
C. 38-50 yrs
D. More than 50
A. Below 1 Lakh
B. 1-2 Lakh
C. 2-5 Lakh
A. Government Employee
B. Private Employee
C. Businessman
India?
A. News Paper
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B. Television Media
C. Internet
D. Friends
A. Yes
B. No
A. One
B. Two
A. Up to 50,000
B. 50,001 to 1,00,000
A. Personal Loan
B. Mortgage Loan
C. Home Loan
E. Other Loans
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9. Duration of period which the
Amount?
A.12Months.
B.18Months.
C.24Months.
A. Yes
B. No
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