INDEX PART:
A
UNDERSTANDING
THE
CONCEPTS……………………………….8 1.
EXECUTIVE SUMMARY……………………………………………..9
2.
INTERODUCTION……………………………………...................... ....11
3.
COMPANY PROFILE………………………………………………….14
4.
PRODUCT PROFILE…………………………………..........................20
5.
COMPETITORS PROFILE……………………………………... ……..27
6.
WHAT DIFFERENTIATES BAJAJ FINANCE…………..28
7.
BAJAJ
GROUP
STRUCTURE…………………………………………30 8.
BAJAJ
MANAGEMENT
STRUCTURE…………………………….....31 9.
STRONG
DISTRIBUTION
REACH…………………………………..32 10.
FINANCE SERVICES……………………………………………...34
11.
GROWTH OF BAJAJ FINANCE……………………….....37
PART: B REVIEW OF WORKINGS…………………………………………….41 1.
INTRODUCTION TO TOPIC……………………………………………42
2.
LITERATURE REVIEW…………………………………………………44
3.
RESEARCH METHODOLOGY…………………………………………45
4.
RESEARCH OBJECTIVE……………………………………………….46
5.
RESEARCH
DESIGN…...
……………………………………………….47 6.
SAMPLING PLAN……………………………………………………….48
7.
DATA ANALYSIS……………………………………………………….49
8.
FINDINGS
&
LIMITATIONS…………………………………………...61 9.
SUGGESTIONS
&
RECOMMENDATIONS…………………………...63 10.
LEARNINGS………………………………………………………… …..64
11.
CONCLUSION……………………………………………………… …...65
12.
BIBLOGRAPHY……………………………………………………… …66
13.
QUESTIONARE……………………………………………………… ….67
PART: A UNDERSTANDING THE CONCEPTS
EXECUTIVE SUMMARY The unique attribute about Retailer Finance is the fact that Bajaj finance is leveraging on its trust relationship with its partners for disbursing the loans. Mr. Sanjiv Bajaj (Managing Director of Bajaj finance)
Bajaj finance, one of the most diversified non-banks in the country, has introduced exclusive finance option for its retail partners in the consumer durable industry. A leader in 0% interest consumer finance with 14% share in the market, the company launched the innovative Retailer Finance, which will help its partners avail finance for acquiring inventory from the manufacturers.
The unique attribute about Retailer Finance is the fact that Bajaj finance is leveraging on its trust relationship with its partners for disbursing the loans. The retailers are assigned a pre-approved credit line which they can use any time they want. Thus unlike other finance options, they don’t have to undergo the cumbersome due-diligence process and get quick finance without submitting any collaterals or documentation. This is the first time ever that a non-collateral based financing option has been introduced for the retailers.
“We are uniquely placed in the consumer durable industry where we have been helping retailers to sell more. Now Retailer Finance will help strengthen our relationship with manufacturers as this will help them in turn to sell more to the retailers. With this launch, we complete the entire value chain across the industry thereby increasing our commitment towards the consumer durable industry”, said Rajeev Jain, CEO Bajaj finance. The company has already tied up with consumer durable leaders LG and Sony to extend this facility to their direct dealers and going forward will be considering more partnerships in the space. Owing to the 0% financing offering, Bajaj finance already has relationships with more than 3000 partners in the consumer durable industry across 81 cities in India.
This report, which contains only a part of the actual report is based on the research work done as a part of the summer internship project at BAJAJ FINANCE, MUMBAI. The research involved study of the past literatures about the retail finance sector, related online research papers and journals. The study also involved survey of all COUNTER’S OF BAJAJ FINANCE in the city of MUMBAI through field visits and online survey. The annual reports and the sector reports published by regulatory bodies, business associations and major retail finance players facilitated the study, especially in understanding the size, growth and past trends. Interactions with some of the industry experts helped in understanding and analyzing the emerging concerns in the retail finance sector and also to look for some possible solutions.
Based on the research work, a few major recommendations made in the report include field supervision of Bajaj finance to check ground realities and the operational efficiency of Bajaj Allianz. Other initiatives to BFSL for opening branches in unbanked villages, so as to increase rural penetration. Also BFSL be encouraged to offer complete range of products to their clients. Transparent pricing and technology implementation to maintain uniformity and efficiency are among the others which these institutions should adopt.
INTRODUCTION
2.1
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 finance will help grab this opportunity to grow your business, through lending loans, financing, etc. 2.2
INDIA'S FINANCIAL SERVICES INDUSTRY 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 finance 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, finance and real estate sectors rose by 7.4 per cent in 2012-13.
BACKED WITH o 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. o Continuous increasing in capital expenditure by the government and private industry. o Significant opportunities in the largely untapped SME segment- which accounts for 40% of the industrial output and 35% of India's direct exports o 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 2012-13 and is expected to grow over 8 percent in the coming months. o Growing investment avenues across all segments in the banking and financial services sector.
2.3
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 4, 2013 while deposits were up 14.3 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 4, 2013. The WSS reflected that bank deposits rose by US$ 3.24 billion to US$ 975 billion in the two weeks to June 4. 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. 2.4
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. 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: o Those accepting public deposits o Those not accepting public deposits but engaged in financial business o 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.
COMPANY PROFILE
3.1
INTRODUCTION
“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, finance, 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.
With the demerger of Bajaj Auto Ltd, following separate corporate entities came into existence in May’ 2008 o Bajaj finance(BFL), o
Bajaj Auto Ltd (BAL), and
o
Bajaj Holdings and Investment Ltd (BHIL) Demerger of Bajaj Auto Ltd. o Bajaj is present in over 50 countries all over the globe o Dominant presence in Africa, Latin America and South Asia with increasing market share every year o Market leader in motorcycles in Colombia, Central America, Sri Lanka, Bangladesh, Philippines, Nigeria, Uganda and Kenya. o 891,002 units exported in 2012-13, an increase of over 15 % over the previous year. o Largest exporter of three wheeled commercial vehicles in the world: 164,887 units exported in 2012-13, a rise of 19% over 2011-12.
3.2
ABOUT BAJAJ FINANCE LENDING
Bajaj finance Limited is the holding company for the financial services businesses of the Bajaj Group. Its finance joint ventures with Allianz SE, Germany namely Bajaj financeLife Finance Company Limited and Bajaj financeGeneral Finance Company Limited are engaged in life and general finance business respectively. Its subsidiary Bajaj Finance Limited is a NonBanking Finance Company engaged in consumer finance, SME finance and commercial lending. Bajaj Financial Solutions Limited, a wholly owned subsidiary of Bajaj Bajaj finance Limited is engaged in wealth advisory business.
Bajaj finance is one of the leading financiers in the market offering: 0% interest on lifestyle product and consumer durable product finance on EMI.
An easily avail on a loan for products like , two wheeler , LCD, LED, Color TV, Refrigerator, Washing Machine, Air Conditioner, Music System, Microwave amongst a host of other products.
Bajaj finance consumer durable loan comes with 0% financing and with a small fee. One can apply online on their website and get an instant approval or visit a dealership to easily avail a loan. It provides on the spot approval with minimum documentation & fast processing.
They offer finance for various infrastructure related equipment’s in the field of Construction, Mining, and Material Handling businesses so you can go ahead and construct your own path to success. They extend finance with attractive benefits for both new as well as used equipment Bajaj finance 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 Finance Services under the name of Bajaj finance.
Bajaj finance 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, 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,
Equipment Loans, Loan against Securities and Finance Services.
3.3
PRESENT STATUS
Bajaj finance bets big on 0% interest finance:-
Construction
In turn, Bajaj finance continues to be the largest driver of this growth with over 9% share and growing at 88% YOY. This puts Bajaj finance in a clear leadership position. Today, one out of every 5 flat panel TVs is bought on the 0% interest consumer durables loans option from Bajaj finance. This growth has come at the back of significant investments made in distribution, technology and process automation. “We have invested deep in technology and process innovations to create long term sustainable advantages. This has allowed us to create win-win propositions for all members in the ecosystem”, says Rajeev Jain CEO Bajaj finance. 3.31
VISION To attain world class Excellency by demonstrating value
o
added products to customers. To attain brand value by learning, innovation, perfection and
o transparency. o
To ensure proactivity, to create the future through innovation.
o
To set new standards and reach near to perfection.
o
To convey clear conviction and characterize themselves.
3.32
MISSION o
Focus on value based lending.
o
Fostering team work and enhancing the capability of team.
o
Continual Improvement.
o
Total elimination of fraud practices.
Ensuring easy and quick accessibility to customers.
o
3.33
OBJECTIVE Bajaj finance is one of the most diversified NBFCs in the
o
market catering to more than 5 million customers across the country .Apart from being a well-recognized organization; they pride ourselves for holding the highest credit rating of FAAA/Stable for any NBFC in the country today to cater products. To the customers changing financial requirements based on
o
customer feedback and improvising the existing products.
3.34
GOALS To catapult Bajaj Bajaj finance as the country’s largest
o
financial lending firm. 3.35
VALUES
I.
Empowerment
o
We respect the opinions and decisions of others.
o
We encourage and back people to do their best.
II.
Flexibility We are ever willing to learn and adapt to the environment, our
o
partners and customers evolving needs. III.
Entrepreneurship
o
We always strive to change the status quo.
o
We innovate with new ideas and energies with a strong
passion and entrepreneurial skills. IV. Transparency o
We believe we must work with honesty, truth and the inmate
desire to do well. V. Impact o in society.
We are driven by the desire to create a meaningful difference
PRODUCT PROFILE
4.1
PRODUCT PORTFOLIO SUMMARY Bajaj Bajaj finance Limited 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. Hereunder are summary details of our portfolio of businesses, with a brief description on each:Consumer Finance
Consumer Durables Finance Lifestyle Finance EMI Card Extended warranty Personal Loans Cross Sell Co-branded Credit Cards Two and three wheeler Finance Salaried Personal Loans
SME Finance
Mortgage Business Loans
Commercial Lending
Construction Equipment Finance Infrastructure Finance Vendor Financing
4.2
CONSUMER FINANCE
4.21
CONSUMER DURABLE FINANCING
Present in the top 79 cities of the country, we are now the largest Consumer Durables Financier in India. We financed over 10% of all consumer electronics sold in the country in the last year. We finance one out of every four LCD and Plasma televisions sold in the country. Last year, we acquired more than 1.45 million new customers, through our over 2,500 points of sale across the country. PRODUCTS COVERED 0% interest Consumer Durables Finance is available on a wide range of products and in over 80 cities across India. Hereunder is an indicative list of products covered:
LED/LCD/CTV
Washing Machines
Microwave Ovens
Refrigerators,
Cameras/Camcorders
Dishwashers
Generators
Cooking Range products
Dryers
Laptops (Select)
Air purifiers / Water Purifiers / R.O.
Music Systems
Inverters
Air conditioners
4.22
LIFESTYLE FINANCE 0% interest Lifestyle Finance is available on a wide range of lifestyle
products. Hereunder is an indicative list:
Home improvements and furniture
Modular kitchens
Jacuzzi & bathroom fittings
Kitchen equipment’s
Home furnishings
Luxury watches
Digital lifestyle products
Tablet PCs
Smart-phones
4.23
EMI CARDS EMI card for durable and lifestyle purchases, Hereunder is an indicative
list:
FEATURES AND BENEFITS Hereunder are a host of unique features and benefits that you enjoy with EMI Cards from Bajaj finance. Read on to know more:
PRE-APPROVED ELIGIBILITY
The EMI card carries a pre-approved loan in your wallet. You can avail of your loan facility to purchase any consumer durable & lifestyle product of your choice.
INSTANT APPROVAL
Simply Swipe, Sign and Buy with your EMI card. The moment you swipe your card, you get instant approval, subject to the amount pre-approved for you.
MINIMUM DOCUMENTATION
For using your EMI card, you don't need to give any documents. Your EMI card carries all the necessary information required.
PREAPPROVED OFFERS
As an existing customer, you get exclusive preapproved offers from time to time across a host of our partner retailers and manufacturers.
ONLINE ACCOUNT ACCESS
Get all information about your loan like repayment track, interest certificate, payment schedule etc. through our digital customer portal. Just log in with your loan account number and access whatever information you want about your loan.
4.24
EXTENDED WARRANTY Now, with all your consumer durables purchases, you can opt for an
additional one year warranty, over and above the manufacturer’s warranty. What’s more, you can pay for the Extended Warranty through our convenient 0% interest EMI options.
PRODUCT COVERED Extended Warranty covers the cost of repair/ replacement of the consumer durable appliance (i.e. insured asset) arising out of unforeseen defects in material or workmanship within the Policy Period. Wherein Policy Period is defined as 12 months, commencing after expiry of warranty period.
manufacturer’s product
Sum Insured of the insured asset is equal to the Invoice price and Maximum claim payment under the policy is equal to the Sum Insured.
4.25
PERSONAL LOAN CROSS SELL Through this business, we offer existing customers with good repayment
history various pre-approved personal loan offers. While maintaining focus on the balance between business growth and the risk-reward equation, deployments under this category grew by 53% to Rs. 586 crore. The company financed over 86,000 new customers in the current year. As well as through cross-selling we also sale finance product to customer, i.e. Bajaj financeLife Finance Company Limited is a joint venture between Bajaj Bajaj finance Limited and Allianz SE. Both enjoy a reputation of expertise, stability and strength. Bajaj financetoday has a countrywide network connected through the latest technology for quick communication and response in over 200 towns spread across the length and breadth of the country. Bajaj financeLife Finance Corporation (BALIC) uses its in-house call center to cross sell to its existing customer base through regular tele-calling done by its staff. 4.26
CO-BRANDED CREDIT CARDS We have entered into a strategic partnership with Standard Chartered
Bank and has launched co-branded credit cards (‘Platinum’ and ‘World Card’) for customers with a good repayment track record. 4.27
TWO AND THREE WHEELER FINANCE
In FY2012, we emerged as one of the largest two-wheeler financier in India. Despite an increase in competitive activity throughout the year with some banks aggressively promoting two-wheeler and three-wheeler loans, we financed over 650,000 new customers, operating through 571 Bajaj Auto dealerships as well as over 1,700 of its sub-dealers across the country.
4.28
SALARIED PERSONAL LOANS To diversify our offerings in the Consumer Finance business, the
company launched Salaried Personal Loans business. This business focuses on the financial needs of salaried employees. The business targets affluent salaried employees above a threshold salary range employed with leading companies.
4.3
SME FINANCE
4.31
MORTGAGE Under this business, we focus on financial needs of affluent and high net
worth small business and self-employed customers, offering loans against the mortgage of retail, residential and commercial premises. We were the first financial services company in the country to introduce the policy of NIL foreclosure charges and Prompt Prepayment Benefit program.
Recently, the company introduced another industry first - flexi saver. This product offers customers the flexibility to ‘draw when they want’ and ‘pay when they want’ without any extra charges - the first of its kind in this space.
4.32
BUSINESS LOAN Through this business, we offer our affluent SME customers unsecured
loans for their varied business needs. We are the only financial services provider to offer up to Rs. 50 lacs unsecured loan for SMEs. This business is present in the top 31 cities across India. Recently we introduced a special lending program for Doctors. 4.4
COMMERCIAL LENDING
4.41
CONSTRUCTION EQUIPMENT FINANCE Construction Equipment Finance portfolio is designed to meet the
financial needs of businesses engaged in the infrastructure sector. Through this business, we finance the construction equipment needs of these businesses. Currently, we serve customers in over 23 cities in India. 4.42
INFRASTRUCTURE FINANCE We commenced this business a little over year ago. This business focuses
on Project Finance, Corporate Finance and Mezzanine Debt to infrastructure companies/projects. We believe Infrastructure Finance is a critical input to continue to keep the pace on our infrastructure development. However, given the
high interest rate scenario and uncertainty in government policy in key areas, we continue to be selective in lending in this sector, and offer is a core need of the country. 4.43
VENDOR FINANCE This business focuses on short and medium term lending needs of
vendors of large auto manufacturers. This is a three year old business and has been growing steadily
COMPETITORS PROFILE 5.1
KEY COMPETITORS company
L&T Finance Bajaj Bajaj finance Bajaj Holdings Reliance Capital Religare Enterprise Muthoot Finance Responsive Ind Tata Inv Corp JM Financial SE Investments Future Ventures Signet Ind
Last Price
Market Cap. (Rs. cr.)
78.7 13,511.55 642.5 10,223.61 804.45 8,953.01 336.85 8,291.90 319.45 4,772.63 103 3,828.64 90.3 2,410.22 415.95 2,291.69 27.3 2,051.91 390.15 1,582.45 9.25 1,458.03 274.9 802.35
Sales Turnove r 171.98 141.47 743.68 3,828.00 120.97 5,358.90 1,518.85 205.83 53.67 219.04 357.7 564.97
Net Profit
Total Assets
311.33 50.84 663.33 662 -760.95 1,004.24 28.42 167.14 44.81 70.45 -11.45 11.93
3,353.66 2,410.16 5,186.75 25,362.00 2,978.57 18,406.05 897.58 1,920.92 1,638.01 803.53 1,564.37 135.5
ILandFS JSW Holdings HDFC Gold ETF PNB Gilts India bulls Securities
21.1 355.55 2,463.15 23.9 10.65
440.79 394.65 379.14 322.67 246.13
101.08 29.4 165.3 108.09
42.44 21.68 21.05 55.84
93.97 691.22 3,744.84 257.6
As you can see in the above chart, L&T FINANCE, RELIANCE CAPITAL, RELIGARE ENTERPRISE AND CAPITAL FIRST is the major competitors of Bajaj finance.
BAJAJ GROUP STRUCTURE
9.2
OUR FOOT PRINTS
Over 4500 durable retail outlets where you can discover the delight of instant conversion of window-shopping to shopping, with 0% interest Durable Finance. Over 70 of our own branches where you can delight yourself to a new pace of getting any of your dreams financed. Over 400 Lifestyle retail outlets where you can take home your indulgence without pinching your savings. Over 500 direct sales agent locations where you can walk in with a requirement and walk out with a guaranteed time to money-in-your account.
FINANCE SERVICES
10.1
JOINT VENTURE WITH ALLIANZ SE Bajaj financeFinance Company Limited is a joint venture between
Bajaj Bajaj finance limited (recently emerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength. Bajaj financeFinance received the Finance Regulatory and Development Authority (IRDA) certificate of the Registration on 2nd may, 2001 to conduct general finance business (including health finance business) in India. The company has an authorized and paid up capital of Rs. 110 crores. Bajaj Bajaj finance Limited holds 74% and the remaining 26% is held by Allianz, SE. As on 31st march 2012, Bajaj financeLife Finance co.’s shareholders' profit after tax rose 24% to Rs 13.11 billion in the fiscal year ended March 31, 2012, as compared to Rs 10.57 billion in the same period a year ago. Bajaj financetoday has a country wide network connected through the latest technology for quick communication and response in over 200 towns spread across the length and breadth of the country. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected with the head office at Pune.
10.2
BAJAJ FINANCE BUSINESS LINE Bajaj finance offers a wide range of life finance plans through which
customers can secure their lives as well as their family’s financial well-being. An overview of their life finance products: o Term Plans – Bajaj finance offers basic term life finance plans through which customers can insure their lives for a high sum assured. o ULIPs – The Company also offers various Unit Linked Finance Plans which combine the best of finance and investment to provide security for one’s family. These plans come with the aim of helping the customer plan for various long-term objectives, such as retirement, children’s education and marriage, etc.
o Traditional Plans – Bajaj Allianz’s money-back plans are geared towards the needs of those customers who are looking for both life finance and savings for the future. These plans combine traditional life finance with investment, compounded over time, to pay out a regular income to the customer once the plan has matured. o Life + Health Finance Plans – Bajaj financee also offers a range of unique hospitalization-cum-finance plans that take care of the customers’ hospitalization bills and provide financial support to their dependents in case of their unfortunate death.
o Pension Plans – With the awareness that retirement is one of the largest worries of the populace, Bajaj financehas created a range of plans specifically for generating a retirement income. o Women Finance Plans – Bajaj financealso offers women-specific plans which provide investment benefits, savings, retirement solutions and medical finance, all in one. o Additional Rider Benefits – Bajaj Allianz’s life finance policies are customizable in a variety of ways. They can be extended to cover additional risks such as disability, critical illness, loss of ability to work, etc. via the various riders offered by the company and person as well.
Bajaj financeLife Finance has been rated amongst the 50 top service brands and ranked as Third Best Life Insurer, as per a survey conducted on 'Most Trusted Companies' by Brand Equity and AC NielsenORG Marg 2012.
GROWTH OF BAJAJ FINANCE 11.1
BFL’S FINANCIAL PERFORMANCE BFL’s financial performance for FY2012 vis-à-vis the previous year, and
Chart B plots profit after tax over the last five years. (` In Crore) Particulars FY2011 Total income Interest and finance charges
FY2012 Change 1,406 2,172 54% 371
746
101%
1,035
1,426
38%
145
190
31%
Marketing and other commissions Dealer incentives
56
97
73%
47
64
36%
Recovery commission
58
89
53%
205
154
-25%
10
12
20%
Other expenses
144
218
51%
Profit before tax (PBT)
370
602
63%
Profit after tax (PAT)
247
406
64%
Earnings per share (EPS) basic (`) Earnings per share (EPS) diluted (`) Book value per share (`)
67.5
110.8
64%
67.5
110.3
63%
370.8
492.2
33%
Net interest income Salary cost
Loan loss and provisions Depreciation
CHART: A
11.2
GROWTH RATE OF BAJAJ FINANCE
CHART: B CORPORATE SOCIAL RESPONSIBILITY (CSR) 12.1
CSR ACTIVITY OF BAJAJ GROUP The CSR activities of the Bajaj Group are guided by the vision and
philosophy of its Founding Father, Shri Jamnalal Bajaj, who embodied the value of trusteeship in business and laid the foundation for its ethical and value-based functioning. The core elements of CSR activities include ethical functioning, respect for all stake-holders, protection of human rights, and care for the environment. The Bajaj Group generally implements the above initiatives through its employees, welfare funds, and Group NGOs/Trusts/Charitable Bodies operating at various locations in the country. It also enlists the help of non-Group NGOs, local authorities, business associations and civil society, wherever deemed necessary. Some of the major initiatives taken up during the year under review are summarized below:
12.12 THROUGH GROUP TRUSTS:
In 1976, the Jamnalal Bajaj Foundation was established to promote Gandhian constructive programmes and assist constructive workers devoted to the national cause. AWARDS The Foundation gives four awards annually, each of the value of ` 5 lakh. Of these, three are given to individuals in India for outstanding contribution in the fields of constructive work on Gandhian lines, application of science and technology for rural development, and upliftment and welfare of women and children. The fourth is an International Award given to individuals other than Indian citizens from foreign countries for their contribution to the promotion of Gandhian values outside India. 12.21
JANAKIDEVI BAJAJ GRAM VIKAS SANSTHA (JBGVS)
The group continued with its rural development activities through JBGVS in Pune, Aurangabad and Wardha districts of Maharashtra, and Sikar district of Rajasthan. JBGVS aims at integrated development of 75 villages, to be carried out by the villagers themselves, and under their own leadership by forging partnerships with the Government, local institutions and NGOs.
This year, JBGVS has started working in 90 villages of Wardha district in association with local NGOs on specific need based projects such as natural farming, sanitation, etc.
12.221
VARIOUS OTHER CSR ACTIVITIES TAKEN UNDER JBGVS
ARE:o PRIMARY EDUCATION o PRIMARY HEALTH CARE o ENVIRONMENTAL DEVELOPMENT o SOCIAL DEVELOPMENT o URBAN DEVELOPMENT
PART: B REVIEW OF WORKINGS
INTRODUCTION
1.1
INTRODUCTIONS TO THE PROJECT TOPIC: -
“TWO WHEELER LOAN AT BAJAJ FINANCE” Bajaj finance is a financial services company, which finance consumer durable product and lifestyle product at 0% interest rate at store level. Where he also cross-sell his term life finance product i.e. Bajaj financelife finance company. But this term finance product cross-sell to only customer, who had taken finance from Bajaj finance. Bajaj finance has given me a job “To find the root of two wheeler finance of its Bajaj finance ” at store level.
1.2
WHAT IS TERM FINANCE? Term finance is a life finance which provides coverage for the policy term
decided between the policy holder and insurer at the onset of the policy. After this policy term expires coverage is no longer valid. If the insured dies during this term, the death benefit is paid to the nominee.
1.3
KEY BENEFITS
o
Tax Exemption u/s 80C and 10(10D)*
o
Get covered 11 major critical illness diseases at a very lower price.
o
Get the advantage of a level term cover at low cost, especially for larger
sum assured. o
Benefit of attractive high sum assured rebate.
o
Flexibility to select your policy term of 10, 15, 20, 25 or 30 years
depending on your requirement. o
Alter your premium payment frequency.
o
Include your spouse at a later date in your existing policy, if you are single
at present. o
Choose additional rider benefit(s) for enhanced protection.
o
Plan to meet recurring expenses of your loved ones by opting for payment
of benefit in annual installments.
LITERATURE REVIEW 2.1
BRIEF HISTORY OF FINANCE SECTOR IN INDIA The finance sector in India has come a full circle from being an open
competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian finance sector reveals the 360-degree turn witnessed over a period of almost 190 years. The business of life finance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Finance Company in Calcutta. Some of the important milestones in the life finance business in India are: 1912 - The Indian Life Assurance Companies Act enacted as the first statute to regulate the life finance business. 1928 - The Indian Finance Companies Act enacted to enable the government to collect statistical information about both life and non-life finance businesses. 1938 - Earlier legislation consolidated and amended to by the Finance Act with the objective of protecting the interests of the insuring public. 1956 - 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India. The General finance business in India, on the other hand, can trace its roots to the Triton Finance Company Ltd., the first general finance company established in the year 1850 in Calcutta by the British.
RESEARCH METHODOLOGY
3.1
BRIEF DESCRIPTION ON RESEARCH METHODOLOGY Research methodology is considered as the nerve of the project.
Without a proper well-organized research plan, it is impossible to complete the project and reach to any conclusion. The project was based on the survey plan. The main objective of survey was to collect appropriate data, which work as a base for drawing conclusion and getting result. Therefore, Research Methodology is the way to systematically solve the research p r o b l e m. R e s e a r c h m e t h o d o l o g y n o t o n l y t a l k s o f t h e m e t h o d s b u t a l s o l o g i c behind the methods used in the context of a research study and it explains why a particular method has been used in the preference of the other methods.
3.2 RESEARCH METHODOLOGY COMPRISES OF: Research objective Research design Sampling plan Data analysis and result
RESEARCH OBJECTIVE
4.1
THE MAIN OBJECTIVE OF THE PROJECT The main objective of the project is to understand the root cause behind
finance
cancellation of the Bajaj financelife finance {balic}, at all
counters of Bajaj finance.
KEY DELIVERABLES OF THE PROJECT Understand Bajaj finance selling process and finance product. Meet f.o.s at 30 counters in Mumbai and understand the process of when and how they are selling finance to customers.
Understand from 2 Sample Customers at each of these 30 counters whom the FOS has pitched finance– what changes they want in the product. Check with sample 50 cancelled customer what has gone wrong and why are they not interested in the product. SAMPALING PLAN
6.1
SAMPLE SIZE
Research of project was done through administration of questionnaire to 45+ consumers, 50+ F.O.S and 50+ dealers in the western line and central line in Mumbai city. FIELD SURVEY PLAN: - stores which I visited over an internship period. 1. SAMPLE SIZE = 145 2. CONSUMERS = 45 3. FOS = 50 4. DEALERS = 50 TELEPHONIC SURVEY PLAN: - Done calling to the customers, who ve’ cancelled their finance. 1.
SAM
PLE SIZE = 234 2.
NO.
OF RESPONDENT = 126
DATA AND ANALYSIS
7.1
FOS FEEDBACK REPORT
Taken FOS feedback by visiting store such as Tata croma, Reliance digital, Vijay sales, Snehanjali electronic and open market stores such as L.G Electronic, Kohinoor Electronic. FOS was rated on basis of: PITCHING AFTER MISTRY CALLING = CODE: 1 PITCHING / PRODUCT AWARENESS = CODE: 2 COVER NOTE UNDERSTANDING = CODE: 3 EDUCATING/ GIVING PROPER INF. TO CUSTOMER = CODE: 4 PITCHING OVER THE COUNTER = CODE: 5
BAJAJ FINANCE
FOS FEEDBA CK
FINANCE FEEDBA CK CODE: 1 CODE: 2 CODE: 3 CODE: 4 QUESTIO NARE NAME OF COUNTER THE F.O.S E-ZONE, GOREGAON PRIYANKA √ √ EAST VIJAY SALES, RAM SINGH × √ GOREGAON WEST
CODE: 5
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VISHAL PANCHAL NAVIN KOTIAN AJAY MISHRA SARITA SUNIL SANDEEP ASHISH PANDEY WASHIM ANIKET ARPIT RAJAPURKA GANESH ACHARYA SWAPNIL GHADE
RAHUL ELECTRONIC, GORE. WEST SNEHANGALI, KANDIVLI WEST KOHINOOR ELEC. KANDIVLI VIJAY SALES, MIRA ROAD L.G ELECTRONIC, MIRA ROAD RAHUL ELECTRONIC,BORIVLI EAST VIJAY SALES, BORIVLI WEST RELIANCE DIGITAL,KANDIVLI EAST VIJAY SALES, OPERA HOUSE VIJAY SALES,MAHIM WEST VIJAY SALES, DADAR
GALA & SONS, MALAD WEST RAJ SWAPNIL ELECTRONIC,MALAD GHADE WEST SWAPNIL RAJESH ELEC. MALAD GHADE WEST SWAPNIL EETACHI ELEC. GHADE MALAD WEST SONAM TATA CROMA, MALAD SONI WEST RELIANCE DIGITAL, NIRAJ SINGH MALAD WEST ASHOK TATA CROMA,
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YADAV MANISH TIWARI NITIN RAY SHURUTI KADAM VIJAY DULAYES SANDEEP TRIPATI KIRAN POPAB PRASHANT PRAVIN JHADESHI SHASHANK
KANDIVLI WEST L.G ELECTRONIC, KANDIVLI EAST DEVI ELECTRONIC, BORIVLI EAST
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TATA CROMA, JUHU
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VIJAY SALES, SANTACRUZ
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TATA CROMA,BANDRA
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TATA CROMA, BHAYANDER WEST SNEHANJALI, BHAYANDER SNEHANJALI, NALLASOPARA SNEHANJALI, ANDHERI
7.2
GRAPHICAL REPRESENTATION OF FOS FEEDBACK
7.3
DATA ANALYSIS Pitching after mystery calling and pitching over the counter is not
happening, there is more numbers of NO that means FOS are not pitching
finance to customers over the counter. They are generating lead through calling. 7.4
VISITED COUNTERS, WHERE IS LARGE NO. OF CANCELLATION
REPORTS
NAME OF THE F.O.S VIJAY SONKAR Amna Shaikh Chandramani GANESH SAKPAL Sanjay T. Shukla sonu kushwaha Vinit. Suresh Joshi. Nisha s Hassan Amrit Sharma Swati Agarwal ASHISH KADAM SUMEDH CHANDANE SANTOSH CHAVAN ASHISH HIRALAL BHOITE DESHMUKH WASIM UBAIDULLAH KHAN GANESH ACHARYA POONAM , ANKIT NASIR N. NAIK
COUNTER SNEHANJALI – KALYAN VIJAY SALES – KALYAN SNEHANJALI – ULHASNAGAR VIJAY SALES – ULHASNAGAR J.K ENTERPRISES – DOMBIVLI S.B ENTERPRISES – DOMBIVLI RAJDEEP – DOMBIVLI KOHINOOR VIDEO- DOM- E VIJAY SALES – DOMBIVLI SNEHANJALI – DOMBIVL VIJAY SALES, BORIVALI(W) TATA CROMA- MULUND VIJAY SALES- GHATKOPAR VIJAY SALES, MAHIM RELIANCE DIGITALKHANDIVLI ADITI ELEC. KANDIVLI WEST VIJAY SALES- DADAR VIJAY SALES- OPERA HOUSE SHAH ELEC. - MIRA ROAD NEELAM ENTER. - MIRA
ROAD 7.5
DATA ANALYSIS Above counters has high no. of finance cancellation: reason behind finance
cancellation is mostly due to miss- selling of finance product and customers financial problems. 7.6
CUSTOMER’S FEEDBACK REPORT Taken feedback from customers by talking to them at each counters,
whether they want any changes in finance policy?
CUSTOMER'S FEEDBACK: WHAT CHANGES THEY WANT IN THE PRODUCT CUSTOMER NAME CHANGES IN POLICY VIKAS DON'T WANT ANY CHANGES GHODVINDE IN THE PRODUCT DON'T WANT ANY CHANGES SUNIL JADAV IN THE PRODUCT PRAMOD DON'T WANT ANY CHANGES MAHAJAN IN THE PRODUCT NITIN DON'T WANT ANY CHANGES BHARIJONKAR IN THE PRODUCT DON'T WANT ANY CHANGES BHASKAR IN THE PRODUCT KIRAN S DON'T WANT ANY CHANGES MONDKAR IN THE PRODUCT MANISHA S DON'T WANT ANY CHANGES JADHAV IN THE PRODUCT
COUNTER ADDRESS SNEHANJALI, KALYAN WEST SNEHANJALI, KALYAN WEST SNEHANJALI, KALYAN WEST VIJAY SALES, KALYAN WEST VIJAY SALES, KALYAN WEST J.K ENTERPRISE, DOMBIVLI EAST J.K ENTERPRISE, DOMBIVLI EAST
ROHINI P SASANE PRATIKSHA SOURAV AGGARWAL AMRUTA DONDE VIKRAM AMBALIYA SUMIT MANDAL ANKUSH SOLANKI FATIMA BABAN BALMIKI JITENDRA DILIP SAJIDA MD. SHAIKH PRIYANKA SWAPNIL SHAHU PRAFUL MELKAR JAIDEEP DHANANJAY SHRAGAYA ZEENATH CHAUDHARY SAIMA JALAL PRAKASH INGALE HASMUKH
WANTED TO HAVE A MATURITY AMOUNT DON'T WANT ANY CHANGES IN THE PRODUCT DON'T WANT ANY CHANGES IN THE PRODUCT SATISFY WITH FINANCE POLICY SATISFY WITH FINANCE POLICY SATISFY WITH FINANCE POLICY WANTED TO HAVE A MATURITY AMOUNT SATISFY WITH FINANCE POLICY WANTING A FAMILY COVERAGE SATISFY WITH FINANCE POLICY SATISFY WITH FINANCE POLICY DON'T WANT ANY CHANGES IN THE PRODUCT SATISFY WITH FINANCE POLICY WANTED TO HAVE A MATURITY AMOUNT
J.K ENTERPRISE, DOMBIVLI EAST J.K ENTERPRISE, DOMBIVLI EAST RAJDEEP ENTERPRISE, DOMBIVLI EAST RAJDEEP ENTERPRISE, DOMBIVLI EAST RELIANCE DIGITAL, KANDIVLI EAST RELIANCE DIGITAL, KANDIVLI EAST
VIJAY SALES, DADAR VIJAY SALES, OPERA HOUSE VIJAY SALES, OPERA HOUSE SHAH ELECTRONIC, MIRA ROAD SHAH ELECTRONIC, MIRA ROAD E - ZONE, GOREGAON EAST E - ZONE, GOREGAON EAST VIJAY SALES, GOREGAON WEST VIJAY SALES, GOREGAON ALREADY HAVING A FINANCE WEST WANTED TO HAVE A RAHUL ELECTRONIC, MATURITY AMOUNT BORIVLI EAST SATISFY WITH FINANCE VIJAY SALES, MAHIM POLICY WEST DON'T WANT ANY CHANGES VIJAY SALES, MAHIM IN THE PRODUCT WEST DON'T WANT ANY CHANGES L.G ELECTRONIC, IN THE PRODUCT KANDIVLI EAST SATISFY WITH FINANCE L.G ELECTRONIC,
SOLANKI NIKHIL BARORTKAR RADHA SINGH NEHA GOKARAN SHEELA R. GENEWALA TAHIR HUSSIAN HETENDERA SHARMA HARSHAD PRAKASH MD. AASHFAQ SHAIKH MANOJ KUMAR BATRA SHAREF SHAIKH CVL PHANI ALPANA TATAKE
POLICY SATISFY WITH FINANCE POLICY WANTING A FAMILY COVERAGE WANTED TO HAVE A MATURITY AMOUNT SATISFY WITH FINANCE POLICY SATISFY WITH FINANCE POLICY SATISFY WITH FINANCE POLICY WANTING A FAMILY COVERAGE WANTING A FAMILY COVERAGE
KANDIVLI EAST TATA CROMA, KANDIVLI WEST TATA CROMA, KANDIVLI WEST RELIANCE DIGITAL, MALAD WEST RELIANCE DIGITAL, MALAD WEST TATA CROMA, MALAD WEST TATA CROMA, MALAD WEST VIJAY SALES, SANTACRUZ VIJAY SALES, SANTACRUZ
WANTING A FAMILY COVERAGE TATA CROMA, JUHU DON'T WANT ANY CHANGES IN THE PRODUCT TATA CROMA, JUHU ALREADY HAVING A FINANCE TATA CROMA, BANDRA
ALREADY HAVING A FINANCE WANTED TO HAVE A CHAMPAK LAL MATURITY AMOUNT MAHESH WANTING A FAMILY YADAV COVERAGE SATISFY WITH FINANCE VIRAT PATIL POLICY SATISFY WITH FINANCE JARSON RAPEL POLICY VINOD WANTED TO HAVE A CHOGALE MATURITY AMOUNT WANTING A FAMILY AJIT HARIDAS COVERAGE
TATA CROMA, BANDRA TATA CROMA, BHAYANDER TATA CROMA, BHAYANDER SNEHANJALI, BHAYANDER SNEHANJALI, BHAYANDER SNEHANJALI, NALLASOPARA SNEHANJALI, NALLASOPARA
7.7
GRAPHICAL PRESENTATION OF CUSTMERS FEEDBACK
7.8 DATA ANALYSIS Most of the customers are satisfied with the policy, but there are customers’ who demands for FAMILY COVERAGE AND MATURITY AMOUNT. 7.9
DEALERS FEEDBACK REPORT Taken a feedback from dealers as well, whether dealers or store managers
itself aware of the finance product or not? DEALERS WERE JUDGE ON THE BASIS OF: ANY CASES OF FINANCE CANCELLATION = CODE: 1 DEALERS/ STORE MANAGER AWARENESS OF FINANCE = CODE: 2 STAFF PERFORMANCE = CODE: 3
BAJAJ FINANCE FINANCE
DEALERS FEEDBACK CODE: 1
CODE: 2
CODE: 3
FEEDBAC K QUESTION ARE NAME PRIYANKA RAM SINGH VISHAL PANCHAL NAVIN KOTIAN AJAY KUMAR MISHRA SARITA SUNIL SANDEEP ASHISH PANDEY WASHIM DESHMUKH ANIKET ARPIT RAJAPURKA GANESH ACHARYA SWAPNIL GHADE SWAPNIL GHADE SWAPNIL
COUNTER E-ZONE, GOREGAON EAST VIJAY SALES, GOREGAON WEST RAHUL ELECTRONIC, GORE. WEST SNEHANGALI, KANDIVLI WEST KOHINOOR ELEC. KANDIVLI WEST VIJAY SALES, MIRA ROAD L.G ELECTRONIC, MIRA ROAD RAHUL ELECTRONIC,BORIVLI EAST VIJAY SALES, BORIVLI WEST RELIANCE DIGITAL,KANDIVLI EAST VIJAY SALES, OPERA HOUSE VIJAY SALES,MAHIM WEST VIJAY SALES, DADAR GALA & SONS, MALAD WEST RAJ ELECTRONIC {MALAD WEST} RAJESH ELEC. MALAD
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GHADE SWAPNIL GHADE SONAM SONI NIRAJ SINGH ASHOK YADAV MANISH TIWARI NITIN RAY SHURUTI KADAM VIJAY DULAYES SANDEEP TRIPATI KIRAN POPAB PRASHANT PRAVIN JHADESHI SHASHANK
WEST EETACHI ELEC. MALAD WEST TATA CROMA, MALAD WEST RELIANCE DIGITAL, MALAD WEST TATA CROMA, KANDIVLI WEST L.G ELECTRONIC, KANDIVLI EAST DEVI ELECTRONIC, BORIVLI EAST
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TATA CROMA, JUHU
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TATA CROMA, BHAYANDER WEST SNEHANJALI, BHAYANDER SNEHANJALI, NALLASOPARA SNEHANJALI, ANDHERI
7.10
GRAPHICAL REPRESENTATION OF DEALERS FEEDBACK
7.11 DATA ANALYSIS From the above as you can see 26 dealers has said NO, which means they are not aware of the finance product? 7.12
CUSTOMERS CALLING FEEDBACK Did calling to almost 234 no. of customers, those who have cancelled their
finance i.e. {balic cancellation cases of April-march, 13} to know the reason behind cancellation.
CONCLUSION: TOTAL CALLING NO. OF CUSTOMER GIVEN FEEDBACK NO. OF CUSTOMER NOT GIVEN FEEDBACK GIVEN FINANCE WITHOUT TAKING CUSTOMER CONSENT FINANCIAL PROBLEM NOT CONVEYED PROPER INFORMATION TO
NUM BER 234 126 108
PERCE NTAGE
56 19 8
46% 21% 12%
CUSTOMER DELAY IN DISPATCHMENT OF DOCUMENT UNDERSTANDING PROBLEM OTHERS PROBLEMS DON'T WANT TO CONTINUE NOT SATISFY WITH POLICY CUSTOMER ALREADY HAVING FINANCE FINANCE WAS CANCELLED WITHOUT ASKING CUSTOMER WANT TO CHANGE THEIR NOMINEE, DOESN'T CHANGE i.e. CANCELLED
5 3
4% 3%
16 8 2 4
14%
1 1
7.13
GRAPHICAL PRESENTATION OF CALLING REPORT
7.14
DATA ANALYSIS From the above data you can see that 45% of cancellation reason is
because of miss-selling of finance product i.e. GIVEN FINANCE WITHOUT TAKING CUSTOMER CONSENT and customer financial problem. FINDINGS AND LIMITATIONS 8.1
KEY FINDINGS
The root cause behind finance cancellation is miss-selling of finance product and customer financial problem and customers change of mind {this is because customers were motivated by its peers or family members}.
From the data I have found that f.o.s were not pitching finance over the counter they are generating lead through calling to customers, this is one of the cause of finance cancellation. Two changes that a customer wants in their finance policy is maturity amount and family coverage. While visiting the stores, I also found that dealers are not aware of the finance benefits and also not bothered about the sale of finance product. Majority of selling happen in the evening time between 6 PM to 10 PM.
Repeat sale for existing customers is increasing day by day hence this holds a great scope in future. On the other hand, sale of finance products will minimize.
8.2
LIMITATIONS
Delay in dispatch of finance document that is one of the major problems. Most the dealers are unaware of the finance product they should be consulted at store level or can be through calling.
.
SUGGESTIONS AND RECOMMENDATIONS 9.1 NECCESARY RECOMMENDATIONS AS FOLLOWS: FOS should be taught by professional, how to pitch finance to customers and when? My suggestion is that in weekdays there are fewer footfalls in store those days finance should be pitch over the counters and in weekends there more rush in store. On weekends finance pitching should be done through calling. On Saturday and Sunday, Company can put an extra FOS, at each counter to pitch the finance, and this will also help in increasing sales and better customer satisfaction. Other recommendations: A promotional campaign must be run, to clarifying the benefits and offerings of BFSL which will clear the doubts about 0 % finance & 0 processing fees. Processing fees should not be charged for the EMI card holders in the case of Consumer Durables as it will create loyalty among customers and will help build a strong customer base even before the competitors entering the market.
LEARNINGS 10.1
LEANINGS FROM THE PROJECTS
Personal learning Exposure to corporate world. Study of finance sector in India. . Academic learning Know how to prioritize work. Team Work Professional learning Gain the professional knowledge while working with the company. Know Business Etiquettes, Business Communication. CONCLUSION After working for eight weeks’ in “BAJAJ FINANCE” I found that company enjoys a monopoly in this segment i.e retail finance. No other company had a such huge sales work force, which bajaj finance had built. 0% interest finance of consumer and lifestyle product has getting a tremendous suceess.
From the finding it can be concluded that “BAJAJ FINANCE” carries a good reputation in the mind of the customers. Customer usually prefers to finance its entire electronic product from Bajaj finance. The main objective of the FOS team was to plan a proper scheduled “when to pitch an finance product to customers with proper technique” so sales target should be achieved. To conclude “BAJAJ FINANCE” needs to focus on their foot falls, sales finance team should be well educated about the policy and customer preference because our major competitor is capital first, that is threat to our counters and new store as well.
BIBLOGRAPHY BOOKS Kotler Philip, Marketing Management, 11th edition. Pearson Education Life Finance-b.p. Agarwal, Sahitya Bhawan, 2011.
Kimball, Bob. 1994. AMA Handbook for Successful Selling.
PRINT MEDIA BUSINESS TODAY ECONOMIC TIMES
WEBSITES www.bajajgroup.com www.bajajbajaj financelending.in www.bajajallianz.com www.bajafinanceltd.com www.indiainfoline.com www.moneycontrol.com www.google.com
QUESTIONARE BAJAJ FINANCE FINANCE FEEDBACK QUESTIONA RE COUNTER VISIT FOS OBSERVATI ON:1. PITCHING AFTER MISTRY CALLING 2. PITCHING / PRODUCT AWARENESS 3. COVER NOTE UNDERSTA NDING 4. EDUCATING / GIVING PROPER INF. TO CUSTOMER 5. PITCHING OVER THE COUNTER CUSTOMER' S FEEDBACK:-
DATE OF VISIT OBSERVATION 'S YES
PITCHING AWARENESS COVER NOTE
EDUCATING COUNTER PITCHING
NO
CUSTOMER NO. 1 1. WAS FINANCE PITCHED TO CUSTOMER 2. ANY REMARK'S FOR NON ACCEPTING 3. COVER NOTE RECEIVED IF PURCHASE D CUSTOMER NO. 2 1. WAS FINANCE PITCHED TO CUSTOMER 2. ANY REMARK'S FOR NON ACCEPTING 3. COVER NOTE RECEIVED IF PURCHASE D
FINANCE PITCHED CUSTOMER REMARK'S
COVER NOTE RECEIVED
FINANCE PITCHED CUSTOMER REMARK'S
COVER NOTE RECEIVED
DEALER'S FEEDBACK:1. ANY
FINANCE
COMPLAINT REGISTER OF FINANCE SALE 2. AWARENESS OF FINANCE PRODUCT 3. SALES STAFF & FOES
COMPLAINT
DEALER'S AWARENESS STAFF
STORE MANAGER NAME:OWNER NAME:S.M NAME:F.O.S NAME:DEALER SIGN:SELF SIGN:ANY REMARK'S
