Angel Broking Demat Account Research Project

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Demat Account
PROJECT REPORT ON
Submitted to IIeBM in the partial fulfillment of
the requirement for degree of Master of
e-Business Management (Finance)
By - Name Naveen Alwala International Institute
of e-Business Management Roll Number
2008/MeBA/07/098
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MOHALI Year -2009
PREFACE The successful completion of this
project was a unique experience for me because
by visiting many place and interacting various
person, I achieved a better knowledge about
sales. The experience which I gained by doing
this project was essential at this turning point
of my career this project is being submitted
which content detailed analysis of the research
under taken by me. The research provides an
opportunity to the student to devote his/her
skills knowledge and competencies required
during the technical session. The research is on
the topic Angel Broking Demat Account
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Acknowledgement It was a great opportunity for
me to work with Angel Broking Ltd., pioneers in
the field of Finance Industry. I am extremely
grateful to all those who have shared their
expertise and knowledge with me and without whom
the completion of this project would have been
virtually impossible.
Firstly, I would like to thank our Company Guide
Mr. Aditya Parmar, Training Manager who has been
a constant source of inspiration for me during
the completion of this project. He gave me
invaluable inputs during my endeavor to complete
this project.
I am also extremely grateful to Mr. Aditya
Parmar, Training Manager, to have given me this
opportunity to work with him and gain valuable
insights. I am indebted to all staff of Angel
Broking Ltd for their valuable support and
cooperation during the entire tenure of this
project. Not to forget, all those who have kept
my spirits surging and helped delivering my best.
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I thank my faculty guide Mr./Ms. Harbajan Singh
who helped me out at every critical situation
that I faced in my project and gave me his
valuable advice to solve problems.
I want to give my special thanks to all members
of IIeBM, for providing me opportunity to work
on this project with this great
organization. At last I would like to thank all
the respondents met in the preparation, who gave
their valuable time to provide us required
information and their honest support to complete
our project in time.
RAJU GOYAL ROLL NO. -2008/MeBA/07/ 098
CERTIFICATE OF COMPLETION
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This is certify that the Final Project
report entitled Demat Account submitted
Summer training report of the requirement for the
degree of MeBA, is a work carried out by RAJU
GOYAL, Roll No. 2008/MeBA/07/098 under my
supervision and guidance.
Project Guide ( )
DECLARATION To The Director, International
Institute of e-Business Management,
Phase-1, Mohali.
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Respected Sir, I hereby declare that the Summer
Training Report, which is entitled Demat
Account, is compiled and submitted by me is my
original frame work. The Procedure in the report
is based on the Standards provided in ISO 9001.
I have not copied the data from any previous
report. However, my Project Guide Respected Mr.
Aditya Parmar helped me at various points while
preparing this report.
MR. RAJU GOYAL
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EXECUTIVE SUMMARY
Training and development is the essential
job of human resources department of
every organization. It is necessary to help
employees in dealing with the changes caused by
the changing business environment. I, RAJU GOYAL
had done my project in ANGEL BROKING LTD. which
is a leading company in finance industry. The
main objective of my project was to Demat
Account. The training design included
departments, and their training needs, month of
training, sequence of training and methods of
training. A proper matrix was formed differently
for each level highlighting the requirements to
be trained. It also includes different skills
workshop including the contents, objectives of
the skills imparted to the employees. Most
important in training process are the ice
breakers and games which help the trainees in
feeling relaxed and refreshed.
Each level in organization was considered as
separate entity and training procedure for them
was also different.
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TABLE OF CONTENTS FOR PROJECT REPORT
Introduction Company Profile SWOT Analysis
Discussion on Training Demat Account of Angel
Broking Buying and Selling Need for the study
Competitors Objective Research Methodology Data
Analysis and Interpretation Observation and
Finding Limitation Suggestion Summary and
Conclusion Bibliography
8 9 18 20 25 34 38 39 43 44 47 57 59 60 61 62
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ANNEXURE (contains questionnaire)
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Introduction
Angel Broking's tryst with excellence in customer
relations began in 1987. Today, Angel has
emerged as one of the most respected
Stock-Broking and Wealth Management Companies in
India. With its unique retail-focused stock
trading business model, Angel is committed to
providing Real Value for Money to all its
clients. The Angel Group is a member of the
Bombay Stock Exchange (BSE), National Stock
Exchange (NSE) and the two leading Commodity
Exchanges in the country NCDEX MCX. Angel is
also registered as a Depository Participant with
CDSL. FSWA is into FINANCIAL PLANNING which
involves selling of financial products like
D-mat account, corporate FDs, mutual funds and
insurance. Angel Broking ltd Transacting and
investing simplified. Get ready to change the
way you transact and invest in financial products
and services. Whether you wish to transact in
equity, equity commodity derivatives, prefer to
invest in mutual funds, life general insurance
products or avail money transfer and money
changing services, you can do it all through
reliance money. Simply open a Angel demat
account and enjoy the convenience of handling all
your key financial transactions through this one
window. In my project I explain in brief about
the company, about financial planning, about
Demat Account, and almost all the things that I
have learned so that others can also read and
learn from my experience.
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COMPANY PROFILE Angel Broking House
Limited COMPANY BACKGROUND Philosophy of the
Company
Angel broking ltd. already has a presence in
India through company Law, incorporated on
December, 1997. It offers world-class financial
planning and a wide range of wealth management
products to mass affluent and affluent customer
segments. Angel Broking limited provides a
complete range of financial products and
services that include equity broking (internet
based online trading as well as offline
trading), financial planning, insurance,
investment products, equity research, demat
account and more. Angel Broking Limited is one of
the leading and professionally managed stock
broking firm involved in quality services and
research. Angel Broking Limited is a corporate
member of The Stock Exchange, Mumbai. The
membership of the company with The Stock Exchange
Mumbai was originally in the name of Mukesh R.
Gandhi, which was eventually turned into a
corporate membership in the name of Angel
Broking Limited. Angel Broking Limited is
managed by Mr. Dinesh Thakkar and he is
well
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supported by Mr. Mukesh Gandhi, a fifteen years
veteran in the market. The group is well
supported by a professional and qualified
research team and efficient operations and back
office team, which comprises of highly dedicated
and qualified individuals. Angel has an
in-house, state of art research department. Angel
believes in reaching out to the customer at the
farthest end rather than by reaching out to
them. The company in its endeavour to give its
client the best has opened up several branches
all over Mumbai, which are efficiently integrated
with the Head Office. Angel Broking Limited is
primarily into retail stock broking, with a
customer base of retail investors, which has
been increasing at a compounded growth rate of
100 every year. The company has huge network
sub-brokers in Mumbai and other places outside
Mumbai, registered with SEBI, who act as Chanel
partners for the company. The company presently
has total staff strength of around 150 employees
who are spread accordingly across the head office
and all the branches. Angel has empowered its
physical presence throughout India through
various strategies which it has been adopting
efficiently and effectively over a period of
time, like opening up of branches at various
places, tie-ups with various agencies and sales
agents, buy-outs of smaller regional outfits and
appointment of sub- brokers and franchisees.
Moreover Angel has been tapping and including
high net- worth and self-employed individuals it
its vast array of clients. Angel has always
strived in the direction of delivering ultimate
client satisfaction and developing stronger
bonds with its customers and chose partners.
Angel has a vision to introduce new and
innovative products and services regularly.
Moreover Angel has been one among the pioneers
to introduce the latest technological
innovations and integrate it efficiently within
its business. Mission To create long term
value by empowering individual investors through
superior financial services supported by culture
based on highest level of teamwork, efficiency
and integrity.
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• VISION
• To provide best value for money to investors
  through innovative products.
• Trading/Investments Strategies
• State of the art technology and personalized
  service.
• Customer Promise
• They are passionate about their customers'
  success and promise to deliver exceptional
  service with every meeting, interaction and
  dealing. They strive to offer simple,
  straightforward, friendly and trustworthy
  service. They are a financial company with a
  different attitude.

DEA
ANGEL
LING IN
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EQUITY
LIFE INSURANCE
MUTUAL FUND
COMMODITY
Milestones
Awarded with 'Broking House with Largest
Distribution Network' and 'Best Retail Broking
House' at Dun Bred street Equity Broking
Awards 2009
May, 2009
August, 2008
Crossed 500000 trading accounts
November, 2007
Major Volume Driver for 2007
March, 2007
Crossed 200000 trading accounts
December, 2006
Created 2500 business associates
October, 2006
Major Volume Driver award for 2006
September Launched Mutual Fund and IPO ,
2006 business
July, 2006 Launched the PMS function
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March, 2006
Crossed 100000 trading accounts
October, 2005
Major Volume Driver award for 2005
September , 2004
Launched Online Trading Platform
April, 2004 Initiated Commodities Broking division
April, 2003 First published research report
November, Angels first investor seminar 2002
March, 2002
Developed web-enabled back office software
November, Angel Capital and Debt Market Ltd.
1998 incorporated
December, 1997
Angel Broking Ltd. incorporated
Angel Broking House Board of Director Mr. Dinesh
Thakkar Founder Chairman Managing Director
The Angel Group of Companies was brought to life
by Mr. Dinesh Thakkar. He ventured into stock
trading with an intention to raise capital for
his own independent enterprise. However, he
recognised the opportunity offered by the stock
market to serve individual investors. Thus
Indias first retail-focused stock-broking house
was established in 1987. Under his leadership,
Angel became the first broking house to embrace
new technology for faster, more
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effective and affordable services to retail
investors. Mr. Thakkar is valued for his
understanding of the economy and the
stock-market. The print and electronic media
often seek his views on the market trend as well
as investment strategies. Mr. Lalit Thakkar
Director Research
Mr. Lalit Thakkar is the motivating force behind
Angels highly acclaimed Research team. Hes
been a part of the senior management team since
the Angel Groups inception. His technical and
fundamental outlook has provided impetus to
Angels market research team. Research-based
personalized advisory services are Angels
forte, and Mr. Lalit Thakkar has undoubtedly been
the brain behind it. When it comes to analyzing
the market, Mr. Lalit Thakkar is truly a genius.
His hands-on experience and fundamental
knowledge of the market can predict the market
trend early. His views on the market trend are
often quoted in the print and electronic
media. Mr. Amit Majumdar Chief Strategy Officer
A chartered Accountant by qualification, Mr. Amit
Majumdar is a key member of Angels strategic
decision-making process. He has been with
the group since August 2004. He has handled
several functions of the group like finance and
operations, to name a few. He has rich experience
in finance, investment banking, treasury,
consultancy and advisory services. Mr. Majumdar
has led many successful initiatives for the
group. Before joining the Angel Group, Mr.
Majumdar has been associated with Rabo India
Finance, Ambit Corporate Finance and Ernst
Young. Mr. Rajiv Phadke Executive Director HR
Corp. communications
Mr. Rajiv Phadke has actively contributed to the
Groups growth over the last four years. Holding
a major in Finance, Mr. Rajiv Phadke is a
strategic thinker with expertise in the
field of corporate planning, international
marketing, financial services, brand-building,
HRD and quality management.
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With over 32 years of experience, Mr. Phadke has
successfully led SBUs and financial companies
from concept to commissioning. His career horizon
spans Motilal Oswal Securities, Times Guaranty
Financials, Nagarjuna Securities and Tata Exports
Ltd. He is also a well-known speaker in the HR
and business development circuit and his views
are featured on various electronic media as
well. Mr. Vinay Agrawal Executive Director
Equity Broking
Mr. Vinay Agrawal leads the Equity Broking
business at Angel, which comprises Business
Development, Operations, Product Development and
E- broking initiative. He is actively involved
in exploring new ways to adopt technology for
business enhancement. A Chartered Accountant by
qualification, Mr. Agrawal began his career with
the Angel Group as Finance and Operations
Consultant, and since then hes quickly climbed
up the corporate ladder.
Mr. Nikhil Daxini Executive Director - Sales and
Marketing
With an MBA in finance, Mr. Nikhil Daxini has
been instrumental in introducing the concept of
professional marketing of broking services at
Angel. His area of focus is Business
Development, Risk Management and Operations. Mr.
Daxini has immense experience in the marketing of
financial products and services. He has been
associated with HDFC Bank Ltd. in the past. Mr.
Hitungshu Debnath Executive Director -
Distribution Wealth Management
A marketing professional and a British Chevening
scholar from the London School of Economics, Mr.
Hitungshu Debnath leads the Distribution and
Wealth Management business at the Angel Group. It
includes the distribution of Insurance, mutual
funds, IPOs, personal loans and other wealth
management products.
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Mr. Debnath has over 18 years of industry
experience. He has been associated with Times
Guaranty Financial Ltd., Fortress Financial
Services Ltd., Alliance Capital Asset Management
and HDFC Asset Management Ltd. in the past. Mr.
Mudit Kulshreshtha Executive Director - Business
Intelligence Analytics
Mr. Mudit Kulshreshtha heads the advance
analytics and strategic business intelligence
division at Angel. With a Bachelors degree in
Engineering and PhD in Economics, Mr. Mudit
Kulshreshtha has more than 12 years experience in
the field of strategy and business
consulting. He has been associated with reputed
consulting firms like Deloitte Consulting India,
Ernst and Young, Arthur Andersen and WNS Global.
He has advised several big clients in the U.S.
and U.K. He is also a known speaker at public
seminars and conferences organized by CII,
NASSCOM, Indian School of Business and IIT. Mr.
Santanu Syam Executive Director - Operations
Mr. Syam brings with him over 18 years of
experience in the field of Transaction Banking,
Wholesale Banking, Treasury Banking, Consumer
Banking and CBS. He started his career with ANZ
Grind lays Bank and he was also associated with
Standard Chartered Bank in India as Director
Transactional Banking. Mr. Syam followed up his
Engineering degree with an MBA. He has also
attended Banking Technology seminars organized
by SCB Singapore, BSE India Euro Finance. Mr.
Ketan Shah Associate Director - Information
Technology
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IT is a strategic function at Angel. And Mr.
Ketan Shah is involved in the designing of
Angels IT policies and Strategies. Mr. Shah
leads all IT-related activities from planning
and budgeting to implementation and
maintenance. Mr. Shah has over 18 years of
industry experience. He has been involved in
various aspects of Business Operations in his
previous assignments.
Ms. Pinky Kothari Associate Director - Sales And
Marketing
Ms. Pinky Kothari is responsible for development
and expansion of the Angel Groups business
in Southern India. She started her career
at Angel as Business Development Executive. She
was then appointed the head of Surat Branch and
the South Gujarat region, before assuming the
role of Associate Director. A qualified Company
Secretary and an MBA in Finance, Ms. Kothari has
vast experience in business development in the
financial services industry.
Mr. Naveen
Mathur Associate
Director

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Commodities Business
A CFA of 1997, Mr. Mathur holds a Post Graduation
degree in Financial Management and Business
Finance. He brings with him over 14 years of
experience in the financial markets He had been
associated with Religare Commodities, Karvy
Consultants and with BLB Ltd in the past. He has
been involved in several management activities,
treasury operations, corporate and strategic
planning, and research activities in Futures and
Options markets in his past assignments. Mr.
Mathur is a regular speaker on all the prominent
financial news channels.

• SWOT ANALYSIS-
• Strength-
• Co-operative and Experienced Branch Managers
• Good Database
• Reliance Brand
• Low pricing
• Weakness-
• Inexperienced Staff
• Low awareness due to lack of advertisement.
• Lack of loyal clientage
• Developing product.

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• Opportunity-
• Untapped Market
• Increased spending power
• Changing Mindset of Customers
• Unpredictable Sensex

• Threat-
• Reach
• Stiff competition from existing players in the
  market
• Better products

• WHAT DOES ANGEL BROKING LTD. OFFERS
• Personalized Service
• Company believes in providing personalized
  service and individual attention to each client
  to ensure that we understand their goals and
  help them achieve it.
• Professional Advice
• Company offers expert advice on equity and debt
  portfolios with an objective to provide
  consistent long-term return while taking
  calculated market risks. Companies approach helps
  clients build a proper mix of products, and not
  concentrate on just one individual product.
  Hence, serving long-term objectives in the best
  way.
• Long-term Relationship
• Company believes that long-term vision is the
  only means to steady wealth creation. However to
  achieve this one also needs to take advantage of
  short-term market opportunities while not losing
  sight of long-term objectives. Hence it partners
  all its clients in realizing their long-term
  vision.

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• Access to Research Reports
• Company provides the clients with access to the
  expert opinion of economists and analysts.
• Transparency and Confidentiality
• Companies clients receive regular portfolio
  statements from relationship managers via email.
• DISCUSSION ON TRAINING
• Students work profile(role and responsibilities)
• I worked there with ANGEL BROKING LTD. with a
  profile of sales trainee. This profile offers me
  to understand the need of customer and provide
  them the best deal possible with maximization of
  the profit, both for the company as well as for
  the customer.
• The most important aspect for the role of trainee
  is trust. So far fulfillment of the targets one
  needs to
• Capitalize on the old and loyal clientage which
  can be building slowly by advising people in the
  best possible way.
• Generating new leads through various activities.
• Generation of leads
• Since I was new in the field so I had to start
  from scratch and generate new leads to sustain
  in the market.
• Cold calling is one of the trusted ways of
  getting to the customers without meeting them.
  Although the rate of conversion remained very
  less, for cold calling the quality and

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accent remains a very important criterion. this
activity give me mixed result. I often
got success and generated many leads through it
but it also landed me in awkward position where
the customer were in different mood and made us
hear words for which a marketer should be always
prepared to hear. Corporate calls always remained
more difficult to crack with respect to retail
sector. The corporate were the most difficult and
most temping to get the business from. It took
me one one day to crack Hi-tech Gears. At ANGEL
BROKING LTD. after getting the product knowledge
in the first week at the branch I was also
allotted distributor to work with. In the initial
phase I was accompanied by more experienced
staff. After I became known to the market and
procedure I started attending calls alone
only. After the third week my performance also
improved and I was able to get close to the
targets, though it looked difficult to achieve in
the beginning. To get awareness of the every
product I attended diversified calls. This helped
me to implement cross selling to get better
results. LIMITATIONS 1. Cold Calling

Voice and accent plays a major role.

The right time to call a customer cannot be
decided, as the customer may in a

• different mood at the time of calling.
• Time consuming
• Less success rate

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2. Corporate

Time consuming

• Contacts with higher authorities play a major
  role
• Description of live experience
• I was supposed to use the database provided by
  the company to make cold calls or by directly
  meeting people to get new leads.
• While making cold calls, we need to have

Good Communication Skills (Voice quality is clear
and articulate)

Persistent and able to bounce back from rejection

Good organizational skills.

Ability to project a telephone personality
(Enthusiasm, friendliness)

Flexibility can adapt to different types of
clients and new situations.
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Using a good database is very essential. Eighty
percent of our business comes from 20 percent of
our customers" is a frequent statement at any
sales convention. There's hardly a sales
executive who is not aware of the 80/20 rule.
While talking to customers, I analyze their
needs. Whether they want to go for
investment purpose or insurance or both. Suggest
them the plan that best suits them. If they agree
to it then either we send across the agents to
close the deal or close it themselves.
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Problems faced while selling products

Customer dissatisfied with the services.

People fear that Angel Broking Being a Private
company and a new entrant may
be able to sustain or not.

Past experience, word of mouth.

Misguidance by agents.

People do not want insurance products.

Lack of knowledge and less awareness about demat
account.

People risk appetite is very low, so they are
afraid of mutual fund as well.
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Success is a journey, not a destination ANGEL
DEMAT ACCOUNTS Overview of Demat Account Demat
account allows you to buy, sell and transact
shares without the endless paperwork and delays.
It is also safe, secure and convenient. In India,
a demat account, the abbreviation for
dematerialized account, is a type of banking
account which dematerializes paper-based physical
stock shares. The dematerialized account is used
to avoid holding physical shares the shares are
bought and sold through a stock broker. This
account is popular in India. The Securities and
Exchange Board of India (SEBI) mandates a demat
account for share trading above 500 shares. As of
April 2006, it became mandatory that any person
holding a demat account should possess a
Permanent Account Number (PAN), and the deadline
for submission of PAN details to the depository
lapsed on January 2007. Is a demat account a
must?
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Now a day, practically all trades have to be
settled in dematerialized form. Although the
market regulator, the Securities and Exchange
Board of India (SEBI), has allowed trades of up
to 500 shares to be settled in physical form,
nobody wants physical shares any more. So a
demat account is a must for trading and
investing. Why demat? The demat account reduces
brokerage charges, makes pledging/hypothecation
of shares easier, enables quick ownership of
securities on settlement resulting in increased
liquidity, avoids confusion in the ownership
title of securities, and provides easy receipt
of public issue allotments. It also helps you
avoid bad deliveries caused by signature
mismatch, postal delays and loss of certificates
in transit. Further, it eliminates risks
associated with forgery, counterfeiting and loss
due to fire, theft or mutilation. Demat account
holders can also avoid stamp duty (as against 0.5
per cent payable on physical shares), avoid
filling up of transfer deeds, and obtain quick
receipt of such benefits as stock splits and
bonuses.
Steps involved in opening a demat account First
an investor has to approach a DP and fill up an
account opening form. The account opening form
must be supported by copies of any one of the
approved documents to serve as proof of identity
(POI) and proof of address (POA) as specified by
SEBI. Besides, production of PAN card in original
at the time of opening of account has been made
mandatory effective from April 01, 2006. All
applicants should carry original documents for
verification by an authorized official of the
depository participant, under his
signature. Further, the investor has to sign an
agreement with DP in a depository prescribed
standard format, which details rights and duties
of investor and DP. DP should provide the
investor with a copy of the agreement and
schedule of charges for their future reference.
The DP will open the account in the system and
give an account number, which is also called BO
ID (Beneficiary Owner Identification
number). The DP may revise the charges by giving
30 days notice in advance. SEBI has rationalized
the cost structure for dematerialization by
removing account opening
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• charges, transaction charges for credit of
  securities, and custody charges vide circular
  dated January 28, 2005.
• Further, SEBI has vide circular dated November
  09, 2005 advised that with effect from January
  09, 2006, no charges shall be levied by a
  depository on DP and consequently, by a DP on a
  Beneficiary Owner (BO) when a BO transfers all
  the securities lying in his account to another
  branch of the same DP or to another DP of the
  same depository or another depository, provided
  the BO Account/s at transferee DP and at
  transferor DP are one and the same, i.e.
  identical in all respects.
• In case the BO Account at transferor DP is a
  joint account, the BO Account at transferee DP
  should also be a joint account in the same
  sequence of ownership.
• Rights
• You can open more than one depository account in
  the same name with single DP/ multiple DPs.
• No minimum balance is required to be maintained
  in a depository account.
• You can give a onetime standing instruction to
  your DP to receive all the credits coming to
  your depository account automatically.
• Procedure
• Fill account opening form (available with your
  DP).
• Give your DP the duly filled account opening form
  with introduction documents as may be required.
• Sign agreement with DP (agreement will state
  rights obligations of both parties). The
  agreement will contain the fee structure of your
  DP. Your DP would give you a copy of this signed
  agreement for your record.
• DP would give you Client Id no. (Account no.)
  Once your depository account is opened. This
  Client Id no. along with your DP Id no. Forms a
  unique combination. Both these nos. should be
  quoted in all your future correspondence with
  DP/NSDL / Issuing Company/their registrar
  transfer (RT) agent.

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• Your DP would give you pre-printed instruction
  slips for depository services viz.,
  dematerialization, delivery instruction for
  trades, etc..Preserve these carefully.
• Your DP would give you a list of deadlines for
  giving instructions for various depository
  activities viz., transfer for effecting sale,
  purchase etc.. If not, check with the DP.
• Required Documents
• The extent of documentation required to open a
  demat Account may vary according to your
  relationship with the institution. If you plan to
  open a demat account with a bank, a savings
  account holder has an edge over the non-account
  holder. In fact, banks usually offer additional
  incentives to customers who open a demat account
  with them.
• Along with the application form, your photographs
  (with co-applicants) and proof of
  identity/residence/date of birth have to be
  submitted. The DPs also ask for a DP- client
  agreement to be executed on non-judicial stamp
  paper. Here is a broad list (you wont need all
  of them though)
• PAN card
• A canceled check,
• Voters ID
• Passport
• Ration card
• Drivers license
• Photo credit card
• Employee ID card
• Bank attestation
• IT returns
• Electricity/ Landline phone bill

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• While they only ask for photocopies of the
  documents, they will need the originals for
  verification. You will have to submit a passport
  size photograph on which you sign across.
• Procedure
• Fill account opening form (available with your
  DP).
• Give your DP the duly filled account opening form
  with introduction documents as may be required.
• Sign agreement with DP (agreement will state
  rights obligations of both parties). The
  agreement will contain the fee structure of your
  DP. Your DP would give you a copy of this signed
  agreement for your record.
• DP would give you Client Id no. (Account no.)
  once your depository account is opened. This
  Client Id no. along with your DP Id no. forms a
  unique combination. Both these nos. should be
  quoted in all your future correspondence with
  DP/NSDL / Issuing Company/their registrar
  transfer (RT) agent.
• Your DP would give you pre-printed instruction
  slips for depository services viz.,
  dematerialization, delivery instruction for
  trades, etc..Preserve these carefully.
• Your DP would give you a list of deadlines for
  giving instructions for various depository
  activities viz., transfer for effecting sale,
  purchase,etc.. If not, check with the DP.
• Angel Demat Account Services
• Angel Broking Transacting and investing
  simplified. Get ready to change the way you
  transact and invest in financial products and
  services. Whether you wish to transact in
  equity, equity commodity derivatives, IPOs
  offshore investments or prefer to invest in
  mutual funds, life general insurance products
  or avail money transfer and money changing
  services, you can do it all through Angel.
• Simply open a Angel account and enjoy the
  convenience of handling all your key financial
  transactions through this one window.
• Benefits of having an Angel account.

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• Its cost effective
• You pay comparatively lower transaction fees. As
  an Introductory offer, we invite you to pay a
  flat fee of just Rs. 750/- and transact through
  Angel.
• Its offers single
• Through Angels associates, you can transact in
  equity, equity and commodities derivatives,
  offshore investments mutual funds, IPOs life
  insurance, general insurance, money transfer,
  money changing and credit cards, amongst others.
• Its convenient
• You can access Angels services through
• The internet
• Transaction kiosks
• The phone (call transact)
• Our all India network of associates on an
  assisted trade.
• Its Safe your account is safeguarded with a
  unique security number that changes every 32
  seconds. This number works as a dynamics
  password to keep your account extra safe.

32

• Reliable research, including views of external
  experts with an enviable track record
• Live news updates from Reuters and Dow Jones
• CEOs / expert views on the economy and financial
  markets
• Tools that help you plan your investments, tax,
  retirement, etc. in the personal finance section
• Risk Analyzer for analysis of your risk profile
• Asset allocators to build an appropriate
  investment portfolio
• Innovative use of technology for facilitating
• The benefits-

• Benefits of Demat Account
• A safe and convenient way to hold securities
• Immediate transfer of securities
• No stamp duty on transfer of securities
• Elimination of risks associated with physical
  certificates such as bad delivery, fake
  securities, delays, thefts etc.
• Reduction in paperwork involved in transfer of
  securities
• Reduction in transaction cost
• No odd lot problem, even one share can be sold
• Nomination facility

33

• Change in address recorded with DP gets
  registered with all companies in which investor
  holds securities electronically eliminating the
  need to correspond with each of them separately
• Transmission of securities is done by DP
  eliminating Correspondence with companies
• Automatic credit into demat account of shares,
  arising out of bonus/split/consolidation/merger
  etc.
• Holding investments in equity and debt
  instruments in a single account.

• Benefit For Investors
• Demat account has become a necessity for all
  categories of investors for the following
  reasons/ benefits
• SEBI has made it compulsory for trades in almost
  all scrips to be settled in Demat mode.
  Although, trades up to 500 shares can be settled
  in physical form, physical settlement is
  virtually not taking place for
• the apprehension of bad delivery on
• account of mismatch of signatures, forgery of
  signatures, fake certificates,
• etc.
• It is a safe and convenient way to hold
  securities compared to holding securities in
  physical form..
• No stamp duty is levied on transfer of securities
  held in Demat form.
• Instantaneous transfer of securities enhances
  liquidity.

34

• It eliminates delays, thefts, interceptions and
  subsequent misuse of certificates.
• Change of name, address, registration of power of
  attorney, deletion of deceased's name, etc. -
  can be affected across companies by one single
  instruction to the DP.
• Each share is a market lot for the purpose of
  transactions - so no odd lot problem.
• Any number of securities can be
  transferred/delivered with one delivery order.
  Therefore, paperwork and signing of multiple
  transfer forms is done away with. It facilitates
  taking advances against securities on low
  margin/low interest.
• Points To Remember
• You may choose your DP based on your evaluation
  of their reputation, service standards, charges,
  other conveniences, etc.
• Open depository account with the same holding
  pattern as there on existing physical
  securities. You will need to open separate
  accounts for every different combination of
  holding pattern. Eg. If 100 securities of
  company ABC 200 securities of company PQR are
  registered in the name of X as first holder Y
  as second holder, one account in name of X as
  first holder Y as second holder is sufficient.
  Whereas, if 100 securities of company ABC are
  registered in the name of X as first holder Y
  as second holder 200 securities of company PQR
  are registered in the name of Y as first holder
  X as second holder, you will need to open two
  accounts, one in the name of X as first holder
  Y as second holder and the second in the name of
  Y as first holder and X as second holder.
• Account opening procedure should typically take
  2-5 days.
• In case of holdings of a partnership firm, the
  account should be opened in the name of the
  partner(s).

35

1. In case of holdings of a HUF, the account should
   be opened in the name of the Karta.
2. In case of a minor, the depository account should
   be opened in the name of the minor and the
   guardians name should be mentioned. The guardian
   will sign as signatory on behalf of the minor.
   For selling the securities of the minor, a court
   order should be obtained.
3. In case of any difficulties, contact your DP.
4. Only securities admitted by NSDL can be
   dematerialized. The list is available with your
   DP.
5. Only securities registered in the name of the
   account holder can be dematerialized.
6. Dematerialization is normally completed within 15
   days after the share certificates have reached
   the issuer/their RT Agent. Thus it may take you
   a month from the date you hand over shares, to
   receive demat credit.
7. Dematerialization would be done only when the
   issuer / their RT Agent is satisfied of
   genuineness of securities ownership status
8. All the joint holders should sign the DRF.
9. The pattern of holding in the DRF should match
   the pattern of holding on the share certificate
   the pattern in which account is opened.
10. Demat requests with name(s) not matching exactly
    with the name(s) appearing on the certificates
    merely on account of initials not being spelt out
    fully or put after or prior to the surname,
    would be processed, provided the signature(s) of
    the client(s) on the DRF tallies with the
    specimen signature(s) available with the issuer/
    their R T agent.
11. If the signature in the DRF does not match with
    the signature available with the issuer/ their R
    T agent, the issuer/ their R T agent may at
    the time of demat confirmation, ask for
    additional documentation (like bank attestation/
    notarization, etc.) to prove that the certificate
    belongs to the person who forwarded the DRF.
12. In case there is any problem in processing the
    DRF, contact your DP and if he cannot resolve
    the problem you may contact NSDL.

36
(No Transcript)
37
Buying and Selling of Dematerialization INTRODUCT
ION

• The procedure for buying and selling
  dematerialized securities is similar to the
  procedure for buying and selling physical
  securities. The difference lies in the process
  of delivery (in case of sale) and receipt (in
  case of purchase) of securities.
• In case of purchase-
• The broker will receive the securities in his
  account on the payout day
• The broker will give instruction to its DP to
  debit his account and credit investors account
• Investor will give Receipt Instruction to DP for
  receiving credit by filling
• appropriate form. However one can give standing
  instruction for credit in to ones accounts that
  will obviate the need of giving Receipt
  Instruction every time.
• In case of sale-
• The investor will give delivery instruction to DP
  to debit his account and credit the brokers
  account. Such instruction should reach the DPs
  office at least 24 hours before the pay-in as
  otherwise DP will accept the instruction only at
  the investors risk.
• Rights

38

• Dematerialized securities can be traded on those
  stock exchanges connected to NSDL. At present,
  NSE, BSE, CSE, DSE, LSE, BGSE, OTCEI, MSE, ISE
  ASE are connected to NSDL. At these stock
  exchanges, two segments would be available to
  trade in dematerialized securities
• Unified (erstwhile physical) segment - In this
  segment delivery
• obligation can be met by delivering
  dematerialized or physical securities at the
  option of the seller. However, for a select list
  of securities prescribed by SEBI, securities
  cannot be delivered in physical form in the
  unified segment, of stock exchanges connected to
  NSDL. This list presently covers 160 securities.
  This list has been expanded to cover a total of
  200 securities with effect from January 17,
  2000. Over a period, this list would cover all
  actively traded securities.
• Exclusive demat segment - In this segment
  delivery obligation can be
• met by delivering dematerialized securities only.
  Physical securities cannot be delivered in the
  exclusive demat segment.
• Procedure
• Trading in dematerialized securities is done
  through your broker just like trading in
  physical securities. After your broker executes
  the trade, your DP will help to deliver shares
  to your broker (in case you sell) on the basis of
  valid instruction given by you to your DP and
  receive shares from your broker (in case you
  buy) on basis of valid instruction given by your
  broker to his DP.
• Buy dematerialized securities
• 1. You purchase securities in any of the stock
  exchanges connected to NSDL through a broker of
  your choice and make payment to your broker. Make
  sure you tell your broker you want only demat
  shares.

39

• Broker arranges payment to clearing corporation/
  clearing house of the stock exchange.
• Broker receives credit in his clearing account
  with his DP on the pay-out day.
• He can immediately transfer these securities to
  your depository account, provided your account
  is already active.
• Broker gives instructions to his DP to debit his
  clearing account and credit your depository
  account.
• You give instruction to your DP for receiving
  credit in your depository account. If you have
  given standing instruction to receive credits, no
  separate instruction for receiving credit will
  be required.
• If the instructions match, your account with your
  DP is credited.

• Sell dematerialized securities
• You sell your dematerialized securities in any of
  the stock exchanges linked to NSDL through a
  broker of your choice.
• You give instruction to your DP for debit of your
  depository account and credit of your brokers
  clearing member account at least 24 hours i.e.
  one working day prior to the pay-in date or
  before the deadline prescribed by your DP, so
  that your brokers clearing account is credited at
  the time arranged with him.
• On the pay-in day, your broker gives instruction
  to his DP for delivery to clearing
  corporation/clearing house of the relevant stock
  exchange.
• The broker receives payment from the clearing
  corporation / clearing house.
• You receive payment from the broker for the sale
  in the same manner you would receive payment for
  a sale in the physical mode.
• Points To Remember

40

• Trading continues to be through brokers. In case
  of any problem in execution of trade, contact
  your broker and if he fails to resolve the
  problem you may contact the stock exchange.
• When you buy securities through the stock
  exchange, your brokers clearing account is
  credited to the extent of the securities
  purchased, on receipt of instruction from
  clearing corporation/ clearing house of the stock
  exchange. Your depository account is credited
  only when your broker gives a delivery
  instruction to his DP. Securities are not
  directly credited to your account by the
  clearing corporation/ clearing house of the stock
  exchange. In case your broker does not give a
  delivery instruction, contact him or concerned
  stock exchange or SEBI. If your depository
  account is not credited, in spite of your broker
  giving valid instruction to his DP, contact the
  DP and if he fails to resolve the same you may
  contact NSDL.
• When you sell securities, you have to give a
  delivery instruction to your DP to transfer the
  securities to your brokers clearing account. They
  are not automatically debited from your account
  by NSDL or by the clearing corporation/ clearing
  house of the stock exchange. In case the DP
  defaults in executing your instruction, the DP
  is liable to compensate you for the loss
  incurred, provided your instruction was in
• order and has been submitted to the DP at least
  24 hours i.e. one working day prior to the
  pay-in date or before the deadline prescribed by
  DP. In case the DP fails to resolve your
  problem, you can contact NSDL.

41
NEED OF THE STUDY The need of the study arises
because of the reason that a trainee must
understand the company, its achievements and
tasks, products and services and also to collect
information about its competitors, its products
and services offered. So that, after
understanding and collecting information about
the organization and its competitors, a trainee
will be able to work well for the
organization. From the study I have learned very
much, about the company as well as the strategy
of the customers, which helps me a lot at my
working days.
42
COMPETITORS
HDFC BANK is one of the leading Depository
Participant (DP) in the country with over 8 Lac
demat accounts. HDFC Bank Demat services offers
you a secure and convenient way to keep track of
your securities and investments, over a period
of time, without the hassle of handling physical
documents that get mutilated or lost in transit.
43
HDFC BANK is Depository participant both with
National Securities Depositories Limited (NSDL)
and Central Depository Services Limited
(CDSL). Features Benefits As opposed to the
earlier form of dealing in physical certificates
with delays in transaction, holding and trading
in Demat form has the following
benefits Settlement of Securities traded on
the exchanges as well as off market
transactions. Shorter settlements thereby
enhancing liquidity. Pledging of
Securities. Electronic credit in public
issue. Auto Credit of Rights / Bonus / Public
Issues / Dividend credit through ECS. Auto
Credit of Public Issue refunds to the bank
account. No stamp duty on transfer of securities
held in demat form. No concept of Market
Lots. Change of address, Signature, Dividend
Mandate, registration of power of attorney,
transmission etc. can be effected across
companies held in demat form by a single
instruction to the Depository Participant
(DP). Holding / Transaction details through
Internet / email.
44
In case you need any more information or have any
queries , feedback complaints , you may please
mail us at dphelp_at_hdfcbank.com Secured easy
transaction processing HDFC Bank Ltd provides
convenient facility called 'SPEED-e' (Internet
based transaction) whereby account holder can
submit delivery instructions electronically
through SPEED-e website (https//speede.nsdl.com)
. SPEED-e offers secured means of transaction
processing eliminating preparation of instruction
slips and submission of the same across the
counter to the depository participant. The
'IDEAS' facility helps in viewing the current
transactions and balances (holdings) of Demat
account on Internet on real time basis.
Disclaimer Whatever have been stated above are
in the good interest of the Investor / Demat
Applicants / holders to provide a brief picture
about the depository system. You are requested go
through the guidelines of the depositories
before taking any further action. For detailed
guidelines, you are requested to approach your
nearest HDFC Bank branch. HDFC Bank will not be
responsible for any misunderstanding / act based
on the above. Also HDFC Bank might ask for
additional information / documentation than what
has been stated above to process your application
/ instruction.
45
ICICI DIRECT
ICICI Direct (or ICICIDirect.com) is stock
trading company of ICICI Bank. Along with stock
trading and trading in derivatives in BSE and
NSE, it also provides facility to invest in IPOs,
Mutual Funds and Bonds. Trading is available
in BSE and NSE ICICI Direct offers 3 different
online trading platforms to its customers Type
of Account
1. Share Trading Account Share Trading Account by
ICICI Direct is primarily for buying and selling
of stocks in BSE and NSE.
46

• This account allows Cash Trading, Margin Trading,
• Margin PLUS Trading, Spot Trading, Buy Today Sell
  Tomorrow and Call and Trade on phone.
• ICICIDirect.com website is the primary trading
  platform for this trading account. They also
  provide installable application terminal based
  application for high volume trader.
• Wise Investment Account
• Online Mutual funds investment allows investor to
  invest on- line in around 19 Mutual Fund
  companies. ICICI Direct offers various options
  while investing in Mutual Funds like Purchase
  Mutual Fund, Redemption and switch between
  different schemes, Systematic Investment plans,
  Systematic withdrawal plan and transferring
  existing Mutual Funds in to electronic mode.
  This account also provides facility to invest in
  Government of India Bonds and ICICI Bank Tax
  Saving Bonds.

2. Active Trader account gives more personalized
investment options to the investors. It allows
investor to use online and offline stock
trading. It also provides with independent
market expertise and support through a dedicated
Relationship Manager from ICICI.
47
Active Trader also provides commodity
trading. Brokerage and fees Account opening
fees Rs 750/- (One time nonrefundable) Broker
age ICICIDirect.com brokerage varies on volume
of trade and inclusive of demat transaction
charges, service taxes and courier charges for
contract notes. It ranges from 0.1 to 0.15 for
margin trades, 0.2 to 0.425 for squared off
trades and 0.4 to 0.85 on delivery based trades.
Disadvantages of ICICI Direct
1. Getting access to ICICIDirect.com website
during market session can be frustrating.
48
OBJECTIVE

• To find the market potential and market
  penetration of angel broking product offerings
  in Panchkula, Zirkpur, and local area nearby
  them.

• To collect the real time information about
  preference level of customers using Demat
  account and their inclination towards various
  other brokerage firms e.g.
• India bulls, Share khan, India in foline,
  Religare, Alan- kit, Unicon.

49

• To expand the market penetration of Angel broking
  ltd.
• To provide pricing strategy of competitors to
  fight cut throat competition.
• To increase the product awareness of Angel
  broking as single window shop for investment
  solutions.

RESEARCH METHODOLOGY INTRODUCTION
50
Research Methodology refers to search of
knowledge .one can also define research
methodology as a scientific and systematic
search for required information on a specific
topic. The word research methodology comes from
the word advance learner s dictionary meaning
of research as a careful investigation or
inquiry especially through research for new
facts in my branch of knowledge for example some
author have define research methodology as
systematized effort to gain new
knowledge. TYPES OF RESEARCH
ANALYTICAL RESEARCH- It has to used facts or
information already available and analyze these
to make a critical evaluation of
material. SAMPLE SIZE
51
Considering the constraints it was decided to
conduct the study based on sample size of 100
people in specific age groups. METHODS OF DATA
COLLECTION In the project work Primary data
secondary data (both) sources of data has been
used . 1. Primary data collection In dealing
with real life problem it is often found that
data at hand are inadequate, and hence, it
becomes necessary to collect data that is
appropriate. There are several ways of
collecting the appropriate data which differ
considerably in context of money costs, time and
other resources at the disposal of the
researcher. Primary data can be collected either
through experiment or through survey. The data
collection for this study was done in the
following manner Through personal
interviews- A rigid procedure was followed and
we were seeking answers to many pre- conceived
questions through personal interviews. Through
questionnaire- Information to find out the
investment potential and goal was found out
through questionnaires. Through Tele-Calling-
52
Information was also taken through telephone
calls. 2. Secondary sources of data In the
secondary sources of data is used. (Internet ,
mazazine ,books, journals) TOOLS OF
ANALYSIS In the project work quantitative
technique percentage method are has been used.
RESEARCH DESIGN
For the proper analysis of data simple
quantitative technique such as percentage were
used. It help in marketing more accurate
generalization From the data available .The data
which was collected from a sample of population
was assumed to be representing entire population
was interested .Demographic factor like age,
income and educational background was used for
the classification purpose .
53
DATA ANALYSIS AND INTERPRETATION
Q1. In which of these Financial Instruments do
you invest into?
Financial Instrument Percentage of respondent
Mutual Fund 75
Bond 16
Online trading 7
Derivative 2
Result of Preference of Investment
Interpretation
54
This shows that although the mutual funds market
is on the rise yet, the most favored investment
continues to be in the Share Market. So, with a
more transparent system, investment in the Stock
Market can definitely be increased.
Q2. Are you aware of online Share trading?
Aware of online share trading Percentage of respondent
Yes 72
No 28
55
Result of awareness of online trading
Interpretation With the increase in cyber
education, the awareness towards online share
trading has increased by leaps and bounds. This
awareness is expected to increase further with
the increase in Internet education.
Q3. Heard about Angel Broking?
Awareness of Angel Broking Percentage of respondent
Yes 48
No 52
Interpretation
56
This pie-chart shows that reliance money has a
reasonable amount of Brand awareness in terms of
a premier Retail stock broking company. This
brand image should be further leveraged by the
company to increase its market share over its
competitors.
Q4. Do you know about the facilities provided by
Angel Broking?
Awareness of Angel Broking services Percentage of respondent
Yes 36
No 64
Interpretation Although there is sufficiently
high brand equity among the target audience yet,
it is to be noted that the customers are not
aware of the facilities provided by the company
meaning thereby, that, the company should
concentrate more towards promotional tools and
increase its focus on product awareness rather
than brand awareness.
57
Q .5 Which bank is easily available everywhere?
Company Name Percentage of respondent
Angel 15
ICICI 20
HDFC 15
Interpretation- 30 have respondent of Angel
Broking Ltd, 30 have respondent of HDFC, 40
have respondent of ICICI.
Q.6 Which banking Demat account offered you a
large no. of services?
Company Name Percentage of respondent
Angel Broking 22
HDFC 10
58
ICICI
18
INTERPRETATION 44 have respondent of Angel
Broking Ltd, 20 have respondent of HDFC, 36
have respondent of ICICI.
Q.7 Which bank provide you a better email
facility?
Company Name Percentage of respondent
Angel Broking 15
HDFC 13
ICICI 22
59
INTERPRETATION 30 have respondent of Angel
Broking Ltd., 26 have respondent of HDFC, 44
have respondent of ICICI.
Q.8 Which company provide a less BROKARAGE rate ?
Company Name Percentage of respondent
Angel Broking 22
HDFC 11
ICICI 17
60
INTERPRTETATION 44 have respondent of Angel
broking ltd., 22 have respondent of HDFC, 34
have respondent of ICICI. Q. 9 Which company
provide you a large number of product and
services?
Company Name Percentage of respondent
Angel Broking 22
HDFC 10
ICICI 18
INTERPRETATION- 44 have respondent of Angel
Broking Ltd., 20 have respondent of HDFC, 36
have respondent of ICICI.
61
Represent a pie chart
OBSERVATION To study the sales and distribution
management and improve the Customer Acquisition
Process by analyzing the consumer behavior,
response and mindset towards the product and
services the company offers. 1. Preference of
Investment
62

• Consumers want to invest 75 in Mutual funds, 16
  in Bonds, 7 in online trading and 2 in
  Derivatives.
• Awareness on Online Share Trading
• 72 consumers are aware of online share trading
  and 28 consumers are not aware of online share
  trading.
• Awareness of Angel Broking
• 48 consumers are know about Angel Broking and
  52 consumers are not know about Angel Broking.
• Awareness about facilities provided by Angel
  Broking
• 36 consumers are aware about the facilities
  provided by Angel Broking and 64 consumers are
  not know about the facilities provided by Angel
  Broking.
• Availability of Bank
• 30 have respondent of Angel Broking Ltd, 30
  have respondent of HDFC, 40 have respondent of
  ICICI.
• Which banking Demat account offered you a large
  no. of services?
• 4 have respondent of Angel Broking Ltd., 20
  have respondent of HDFC, 36 have respondent of
  ICICI.
• Better email facility provided by bank
• 30 have respondent of Angel Broking Ltd., 26
  have respondent of HDFC, 44 have respondent of
  ICICI.
• Provide a less BROKARAGE rate

63
44 have respondent of Angel Broking Ltd., 22
have respondent of HDFC, 34 have respondent of
ICICI. 9. Provide a large no. of Products and
services 44 have respondent of Angel Broking
Ltd., 20 have respondent of HDFC, 36 have
respondent of ICICI.
64
LIMITATION

• The time constraint was one of the major
  problems.
• The study is limited to the different schemes
  available under the Demat account selected.
• The lack of infor