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About Us

Fundamentals form the foundation of our work ethic. Trust, commitment, skill and innovation
form a golden braid that runs through the very core of our business. Every small detail of our
enterprise is continuously upgraded to create value for clients.

Introduction
Introduction to Bajaj Capital ®
Bajaj Capital Ltd is the flagship company of the Bajaj Capital group.Bajaj Capital Limited
("Bajaj Capital") is India's premier "Investment Services" Company, with over 50 years of
experience in helping people protect and grow their wealth. We've helped to create more
millionaires than any other firm in India. But it is our deep personal relationships with clients
that truly set us apart.
No other firm can match the depth of our experience and our dedication to personal service. The
markets may fluctuate, but our dependability never does..

Bajaj Capital has been granted the Certificate of Registration (“CoR”) by the Securities and
Exchange Board of India (“SEBI”) to carry on the business of Merchant Bankers (Cat-I)
[INM000010544]; Underwriter [INU000001132]; Stock Broker, as Trading Member of BSE Ltd
(Cash Segment) [INZ000007732]; Depository Participant of NSDL [IN-DP-NSDL-267-2006].
Further, Bajaj Capital has been granted the CoR by AMFI [ARN 0010], to carry on the business
of distribution of mutual funds and has also been granted the CoR [Regn.No.03310 (currently
under renewal) to act as Point of Presence (“PoP”) by the Pension Fund Regulatory Authority for
the NPS Schemes.
OUR BOUQUET OF SERVICES INCLUDES:
Personalized Investment Services:requires creating a customized 'snapshot' using our
proprietary 360 degree financial assessment tool, at no extra charge.
360 Degree Financial Assessment Tool
Our proprietary 360° Financial Assessment Tool is a unique scientific method that takes an all-
round view of investments using 3 steps:
i) Need Analysis: "Know Your Client" principle is at the heart of our business. We believe that
we need to know our client's risk profile, basic financial situation, to help them the right
selection of the products/schemes.
ii) Scheme Selection: We will use our best judgment and ability to present you with the best of
the breed investment schemes to choose from.
iii) Efficient Execution: Our service really begins when you have completed your first
transaction through us. Our aim is to be continuously be in touch with you with new offerings.
Bajaj Capital is a distributor of financial products and is remunerated by the product providers.
Bajaj Capital is not an Investment Adviser or a Financial Planner.
Incredible Range of Financial Products: As distributors of financial products, we are truly
unbiased in scheme selection and help you in efficient execution of your transactions.
Hassle-free administration: We Provide timely updates, regular portfolio reviews and 24x7
online call centre support to keep your investments on track.
Pan-India presence: With over 120 offices in 70 cities across India, we strive to maintain a
consistency in relationship and experience. So, if you happen to relocate, there will be a nearby
Bajaj Capital office having same standards of service.
Why Bajaj Capital

SEBI licensed Category I Merchant Banker, ARN Holder, DP of NSDL.

 Over 50 years of experience in helping people protect and grow their wealth.
 We help in need analysis, scheme selection and efficient execution through our
proprietary 360 degree financial assessment tool.
 We offer an incredibly diverse range of financial products and personalized
services.
 Over 120 offices in 70 cities across India, to maintain a consistency of
relationship and experience.
 Strong team of qualified and experienced professionals including CA's, MBA's,
MBE's, CFP's, CS's, Legal Experts and others.
 Our Group Company(ies) include, Bajaj Capital Insurance Broking Limited, is an
IRDA-licensed Composite Insurance Broker; Just Trade Securities Limited,
member of NSE and BSE; Bajaj Capital Investment Centre Limited, which
facilitates realty solutions.
 Serving over 10 lakh clients.

Milestones
Bajaj Capital Group – Journey so far
Bajaj Capital is among the pioneers in investment services industry in India. For nearly five
decades now, Bajaj Capital has been serving Indian investors realizing their aspirations by
helping them create wealth and giving shape to the vision of its founder-chairman, Mr. K.K.
Bajaj.
Bajaj Capital has contributed to the growth of the Indian Capital Market at every step. In 1965,
we were the first to innovate the Companies Fixed Deposit. Today, we are playing an active role
in the growth of the Indian Mutual Fund industry.
Here is a glimpse of our journey through the years.

1964
Bajaj Capital sets up its first Investment Centre® in New Delhi to guide individual investors on
where, when and how to invest.
India's first Mutual Fund, Unit Trust of India (UTI) was incorporated in the same year.

1965
Bajaj Capital is incorporated as a Company. In the same year, the company introduces an
innovative financial instrument – the Company Fixed Deposit. EIL Ltd. (Oberoi Hotels, then
known as Associated Hotels of India Ltd.) becomes the first company to raise resources through
Company Fixed Deposits.

1966
Bajaj Capital expands its product range to include all UTI schemes and Government Saving
Schemes in addition to Company Fixed Deposits.

1969
Bajaj Capital manages its first Equity issue (through an associate company) of Grauer & Wells
India Ltd.; right from drafting the prospectus to marketing the issue.

1975
Bajaj Capital starts offering 'need-based' investment solutions to its clients, which today is
popularly known as 'Financial Planning' in the investment world.
1981
SAIL becomes the first Government Company to accept public deposits, followed by IOC,
BHEL, BPCL, HPCL and others; thus opening the floodgates for growth of retail investment
market in India.
Bajaj Capital plays an active role in all the schemes as 'Principal Brokers'

1986
Public Sector Undertakings (PSUs) begin making public issues of bonds. MTNL, NHPC, IRFC
offer a series of Bond Issues. Bajaj Capital is among the top ranks of resource mobilisers.

1987
SBI leads the launch of Public Sector Mutual Funds in India. Bajaj Capital plays a significant
role in fund mobilisation for all these players.

1991
SBI issues India Development Bonds for NRIs. Bajaj Capital becomes the top mobiliser with
collections of over US $20 million.

1993
The first private sector Mutual Fund – Kothari Pioneer – is launched, followed by Birla and
Alliance in the following years. Bajaj Capital plays an active role and is ranked among the top
mobilisers for all their schemes.

1995
IDBI and ICICI begin issuing their series of Bonds for retail investors. Bajaj Capital is the co-
manager in all these offerings and consistently ranked among the top five mobilisers on an all-
India basis.
1997
Private sector players lead the revival of Mutual Funds in India through Open-ended Debt
schemes. Bajaj Capital consolidates its position as India's largest retail distributor of Mutual
Funds.

1999
Bajaj Capital begins marketing Life and General Insurance products of LIC and GIC (through
associate firms) in anticipation of opening up of the Insurance Sector. Bajaj Capital achieves the
milestone of becoming the top 'Pension Scheme' seller in India and launches marketing of GIC's
Health Insurance schemes.

2000
Bajaj Capital implements its vision of being a 'One-stop Financial Supermarket.' The Company
offered all kinds of financial products, through its Investment Centers. Bajaj Capital offers 'full-
service merchant banking' including structuring, management and marketing of Capital issues.
Bajaj Capital reinvents 'Financial Planning' in its international sense and upgrades its entire team
of Investment Experts into Financial Planners.

2002
The Company focuses on creating investor awareness for proper Financial Planning and need-
based investing. To achieve this goal, the International College of Financial Planning, was set up
to impart education in Financial Planning. The graduates of this institute become Certified
Financial Planners (CFPs), a coveted professional qualification.

2004
Bajaj Capital obtains the All India Insurance Broking Licence. Simultaneously, a series of wealth
creation seminars are launched all over the country, making Bajaj Capital a household name.

2005
Bajaj Capital launches its software-based programme aimed at encouraging scientific and
holistic investing.
2007
Bajaj Capital launches Stock Broking and Depository (Demat) Services (in one of its group
company).

2008
Bajaj Capital launches Just Trade®, an online Platform for investing in Equities, Mutual Funds,
IPO's

About Us
Fundamentals form the foundation of our work ethic. Trust, commitment, skill and innovation
form a golden braid that runs through the very core of our business. Every small detail of our
enterprise is continuously upgraded to create value for clients.

Who’s who
Mr. K.K. Bajaj
Chairman Emeritus & Chief Mentor

A visionary par excellence, a pioneer and a leader, Mr. K.K. Bajaj has been instrumental in
shaping Bajaj Capital's emergence as one of India's largest Investment Services Company. Mr.
Bajaj is a highly respected figure in the fields of institutional and personal finance and Company
FDs. His emphasis on honesty, ethics and values are the guiding principles of the organisation.

Mr. Bajaj is also a prolific writer and has written over 200 articles on diverse issues, such as,
Personal Finance, Economic Affairs, and Health.

Mr. Rajiv Bajaj


Vice Chairman & Managing Director

Mr. Rajiv Bajaj is the Vice Chairman & Managing Director of Bajaj Capital Ltd. He is also the
Founding Chairman of Financial Planning Standards Board, India and has been one of the key
people involved in bringing the globally recognized Certified Financial PlannerTM professional
designation to India.
Mr. Bajaj has over 22 years of strategic management experience in the fields of Investment
Banking, Investment Advisory, Insurance Brokerage and Financial Planning. He had spent his
initial years in setting up of the investment banking business for Bajaj Capital. He also played an
important role in expanding the distribution reach of Bajaj Capital Group from 20 offices in 1990
to around 200 now.

In the last few years, Mr. Bajaj has spent a lot of time in upgrading the operating system and
processes of the Group. Under his leadership, Bajaj Capital has won various category awards and
recognition nationally like,'Best Financial Advisor – Retail' Award for 2009, 2011 and 2012 by
CNBC TV18 and Great Places to Work (2008 and 2009).

Mr. Bajaj has done his MBA (International Wealth Management) from University of Geneva,
Switzerland and an Executive MBA (International Wealth Management) from Carnegie Mellon
University, Pittsburgh, USA. He holds an 'International Certificate for Financial Advisors' from
the Chartered Insurance Institute (CII), London, UK. He is also amongst the first batch of 25
Certified Financial Planner (CFPTM ) designation holders in India.

Mr. Bajaj is a member of CII Mutual Fund Committee, Entrepreneurs' Organization (Delhi
Chapter) and a Council Member of European Business Group. An active speaker and writer on
Investment Strategy and Financial Planning in leading print and electronic media, Mr. Bajaj is
extremely passionate about spreading financial literacy among the masses. His interests include
Golf, Yoga,Fitness Training and Meditation.

Mr. Sanjiv Bajaj


Managing Director

Mr. Sanjiv Bajaj is the Managing Director of Bajaj Capital Ltd. In his role, he is involved in
planning and implementing of several important future projects for the Company and the Group.
He has been instrumental in conceptualizing and implementing a highly successful distribution
model for Life and General Insurance, through what are known as 'Insurance Planning Centres'.

Under the able guidance of Mr. Sanjiv Bajaj, Bajaj Capital Insurance Broking Limited, has
emerged as one of India's leading Insurance Broking Houses within a short span since its
inception in January 2004. He also has keen interest in the Information Technology area and
heads the function for the Company/Group.

Mr. Sanjiv Bajaj started his career in 1995, when he worked on various projects which included
developing Alternate channels of distribution like Associate Model, etc. From here, he moved on
to Investment Advisory services, which included understanding the clients needs and offering
them solutions to meet their requirements by using various planning tools.

Apart from being a Post Graduate in Business Management, Mr. Sanjiv Bajaj also holds an
International Certificate for Financial Advisor's from the Chartered Insurance Institute (CII),
London, and is a certified Financial Planner from Financial Planning Standards Board India
(FPSB).

Mr. Bajaj is an active speaker on Financial Planning, Investments, Insurance Planning and
Careers in the Financial Services Industry.

Mr. Anil Chopra


Group CEO & Director

Mr. Anil Chopra is the Group Chief Executive Officer & Director of Bajaj Capital Limited. He
joined the Company in 1984. Mr. Chopra has been instrumental in expanding the branch network
of Bajaj Capital Ltd. all over India.

A Chartered Accountant and a Certified Financial Planner, Mr. Chopra is credited with
introducing international accounting and HR practices in the organization. His most valuable
contribution, however, has been in building up a financially literate society and making Bajaj
Capital Group a strong retail brand. He is considered an authority, and is widely sought after by
the media for quotes on key developments in the industry.

Our Mission
OUR MISSION, AIMS & OBJECTIVES
Our Promise
We promise to provide our clients - research based, unbiased, independent and need based
services/advice with honest and ethical dealings.
Our Mission
Provide need based solutions at the right value, gaining lifetime client relationships through a
happy team & service excellence.
Our Vision
India's most admired & recommended wealth creation & protection brand.
Our logo depicts Lord Ganesha who is the source of all our values and ethics in business.

The large ears of Lord Ganesha remind us to hear more. We listen carefully to our clients to
understand their needs.
The weight of the trunk on the mouth symbolises silence. We work silently, without blowing
our own trumpet.
The long trunk symbolises continuous exploration. We explore all avenues to provide the best
investment opportunities for our clients.
The heavy posture of Ganesha symbolises stability. We help our clients to attain financial
stability through wise investments.
Lord Ganesha is known as the remover of obstacles and bestower of prosperity. We emulate
His example and try our best to help our clients attain prosperity by proper need analysis, scheme
selection and efficient execution..
Our logo has a yellow background. Yellow is the colour of gold, which symbolises wealth.
According to Vedic lore, it is also the colour associated with Brihaspati, the guru and counsellor
of the Gods. We offer our clients sage counsel to make their wealth grow.
The letters are in red colour – symbolising power and incessant activity. It symbolises our
aggressive quest for your well-being and happiness.
The white streak represents the trunk of Lord Ganesha. White is the colour of satva guna, and
implies our selfless commitment to your life-long happiness.

Mutual Fund
Mutual Funds are among the hottest favourites with all types of investors. Investing in mutual
funds ranks among one of the preferred ways of creating wealth over the long term.
Mutual Funds are among the hottest favorites with all types of investors. Investing in mutual
funds ranks among one of the preferred ways of creating wealth over the long term. In fact,
mutual funds represent the hands-off approach to entering the equity market. There are a wide
variety of mutual funds that are viable investment avenues to meet a wide variety of financial
goals. This section explains the various aspects of Mutual Funds.

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS. READ ALL


SCHEME RELATED DOCUMENTS CAREFULLY

What is Mutual Fund and Why Mutual Fund?


A mutual fund is the trust that pools the savings of a number of investors who share a common
financial goal.
Anybody with an investible surplus of as little as a few hundred rupees can invest in Mutual
Funds.
The money thus collected is then invested by the fund manager in different types of securities.
These could range from shares to debentures to money market instruments, depending upon the
scheme’s stated objective.
It gives the market returns and not assured returns. In the long term, market returns have the
potential to perform better than other assured return products. Mutual Fund is the one of the
most cost efficient financial products.

Taxable bonds
Salient Features:
Eligibility for Investment
The Bonds may be held by -
 An individual, not being a Non-Resident Indian (NRI)
o (a) in his or her individual capacity, or
o (b) in an individual capacity on joint basis, or
o (c) in an individual capacity on anyone or survivor basis, or
o (d) on behalf of a minor as father/mother/legal guardian
 A Hindu Undivided Family.
o (a) Charitable Institution' to mean a Company registered under Section 25 of the
Indian Companies Act 1956
o (b) an institution which has obtained a Certificate of Registration as a charitable
institution in accordance with a law in force; or
o (c) any institution which has obtained a certificate from Income Tax Authority
for the purpose of Section 80G of the Income Tax Act, 1961
 University means a university established or incorporated by a Central, State or
Provincial Act, and includes an institution declared under section 3 of the University
Grants Commission Act, 1956 (3 of 1956), to be a university for the purposes of that Act.

Limit of Investment
(a) There is no maximum limit for investment in the Bonds.
Tax Treatment
(a) Income-Tax: Interest on the Bonds will be taxable under the Income-Tax Act, 1961 as
applicable according to the relevant tax status of the bond holder. (ii) Wealth Tax: The Bonds
will be exempt from Wealth-tax under the Wealth- Tax Act, 1957.
Issue Price
(i) The Bonds will be issued at par. (ii) The Bonds will be issued for a minimum amount of Rs.
1000/- (face value) and in multiples thereof. Accordingly, the issue price will be Rs.1000/- for
every Rs.1,000/-(Nominal).
Subscription
Subscription to the Bonds will be in the form of Cash/Drafts/Cheques. Cheques or drafts should
be drawn in favour of the Receiving Office, specified the respective Application Form.
Form
(i) The Bonds will be issued and held at the credit of the holder in an account called Bond
Ledger Account (BLA). (ii) New Bond Ledger series with the prefix (TB) are to be opened. All
investment in 8% Savings (Taxable) Bonds by an existing BLA holder will be viewed as a new
investment under a new BLA. (iii) The Bonds in the form of Bond Ledger Account will be
issued by and held with designated branches of the agency banks and SHCIL as authorized by
Reserve Bank of India. (iv) The Certificate of Holding in respect of Bond Ledger Account will
be issued in Form TBX or Form TBY as applicable for non-cumulative and cumulative
investments respectively. (v) The Certificate of Holding in respect of cash applications may be
issued on the same day as per the extant instructions.
Applications
(i) Applications for the Bonds may be made in the prescribed form or in any other form as near
as thereto stating clearly the amount and the full name and address of the applicant. (ii)
Applications should be accompanied by the necessary payment in the form of
cash/drafts/cheques. (iii) Applicants who have obtained exemption from tax under the relevant
provisions of the Income Tax Act, 1961, shall make a declaration to that effect in the application
and submit a true copy of the certificate obtained from Income-Tax Authorities.
Receiving Offices
(i) Applications for the Bonds in the form of Bond Ledger Account will be received at: (a)
Authorised Branches of State Bank of India, Associate Banks, Nationalised Banks, four private
sector banks and SHCIL or as may be specified in the application form. (b) Any other bank or
branches of the banks and SHCIL as may be specified by the Reserve Bank of India in this
regard from time to time.
Nomination
(a) A sole holder or a sole surviving holder of a Bond, being an individual, may nominate in
such prescribed form or as near thereto as may be, one or more persons who shall be entitled to
the Bond and the payment thereon in the event of his/her death.

Transferability
(a) The Bond in the form of Bond Ledger Account shall not be transferable.
Interest
(i) The bond will be issued in cumulative and non-cumulative form, at the option of the investor.
(ii) The Bond will bear such interest as specified in the offer documents/forms. Interest on non-
cumulative bonds will be payable at half-yearly intervals from the date of issue. Interest on
cumulative bonds will be compounded with half-yearly rests and will be payable on maturity
along with the principal. Interest to the holders opting for non-cumulative Bonds will be paid
from date of issue upto 31st July/31st January, as the case may be and thereafter at half-yearly
for period ending 31st July/31st January on 1st August and 1st February. Interest on Bond in the
form of "Bond Ledger Account" will be paid, by cheque/warrant or through ECS by credit to
bank account of the holder as per the option exercised by the investor/holder.
Advances/Tradeability against Bonds
(a) The Bonds shall not be tradeable in the secondary market and shall not be eligible as
collateral for loans from banks, financial Institutions and Non Banking Financial Companies,
(NBFC) etc.
Repayment
(a) The Bonds shall be repayable on the expiry of 6 (Six) years from the date of issue. No interest
would accrue after the maturity of the Bond.

IPOs
Introduction
IPO (Initial Public Offer) of good and growing Companies keep on coming in the market. One
should keep a tap on such IPO’s. It has been observed over the years that investors, who bought
equity shares (through primary market)as long term investment have made sizeable amount.

Investment in securities are subject to market risks. Please read the Offer
Document/Prospectus/terms and conditions of such securities issues carefully before investing.

Fixed Deposits
Deposit(s) in Companies that earn a “fixed rate of return” over a period of time are called
Company Fixed Deposits. Manufacturing Companies, Financial Institutions and Non-Banking
Finance Companies (NBFCs) accept such deposits.

Introducing Company Fixed Deposits


Deposit(s) in Companies that earn a “fixed rate of return” over a period of time are called
Company Fixed Deposits. Financial Institutions and Non-Banking Finance Companies (NBFCs)
accept such deposits. Acceptance of deposits by companies are governed by the applicable
provisions contained in the Companies Act, 1956 (soon will be governed by the Companies Act,
2013) and the Companies Acceptance of Deposit Rules (currently, Companies (Acceptance of
Deposit) Rules, 1975. In due course, the new Rules under the Companies Act, 2013 is expected
to be notified). These deposits are currently unsecured in nature. However, there are certain
proposed provisions included in the Companies Act, 2013, wherein it is likely that the said
deposit could be secured

Benefits of investing in Company Fixed Deposits


High interest.
Short-term deposits.
Minimum lock-in period is 6 months.
No Income Tax is deducted at source if the interest income is up to Rs 5,000 in one
financial year

Bajaj Capital Limited (‘BCL’) only acts as a conduit/facilitator between its client and the
respective Fixed Deposits accepting/inviting Company (‘Principal Company’). Before taking a
decision to invest in the Fixed Deposits of any Principal Company, you are requested to carefully
go through the application form, financial statement/s and other information (‘Information’) of
the Principal Company. BCL, its employees, directors, agents etc., do not endorse and/or certify
the Information provided by the Principal Company and shall not be liable (legally or otherwise)
under any circumstances. The interest rates on the fixed deposit schemes may be revised by the
Principal Company at its sole discretion, without any prior notice.
Dp service
Bajaj Capital Limited (“BCL”) was granted the Certificate of Registration (“CoR”) to act as a
Depository Participant (“DP”) of National Securities Depository Limited (“NSDL”) by the
Securities and Exchange Board of India (“SEBI”) bearing SEBI Registration No. IN-DP-NSDL-
267-2006 and bearing DP ID: IN303237. The CoR was transferred from Bajaj Capital Investor
Services Limited (“BCISL”) in favour of BCL.

Our DP 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.

For more information, please Click Here for any of your queries, feedback, please write to us at
info@bajajcapital.com. For any grievance/complaint, please write to us at dp@bajajcapital.com
or to the Compliance Officer, 5th Floor, Bajaj House, 97 Nehru Place, New Delhi – 110019.

Whatever have been stated above are in the good interest of the visitor/client/investor /demat
applicants / demat account holders to provide a brief picture about the depository system. You
are requested to go through the guidelines of the depository/NSDL before taking any further
action. For detailed guidelines/information, you are requested to kindly approach us at the above
given email id/address and we would be happy to help you. BCL will not be responsible for any
action taken based on the above.
Dp service
Benefits of Demat

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.

Secured & easy transaction facility/processing

BCL provides convenient facility called 'SPEED-e' (Internet based transaction) whereby DP
account holder/Beneficial Owner can submit delivery instructions electronically through
SPEED-e website (https://speed-e.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 bas

For more information on Frequently Asked Question (FAQ’s) on various aspects of Demat,

For Schedule of Charges and other Updates, please click on the links

For any of your queries, feedback, please write to us at info@bajajcapital.com. For any
grievance/complaint, please write to us at dp@bajajcapital.com or to the Compliance Officer, 5th
Floor, Bajaj House, 97 Nehru Place, New Delhi – 110019.

Disclaimer:-Whatever have been stated above are in the good interest of the
visitor/client/investor /demat applicants / demat account holders to provide a brief picture about
the depository system. You are requested to go through the guidelines of the depository/NSDL
before taking any further action. For detailed guidelines/information, you are requested to kindly
approach us at the above given email id/address and we would be happy to help you. BCL will
not be responsible for any action taken based on the above
National Pension System
Save More Tax
Tax deduction limit under sec 80 CCD (1) ceiling raised from Rs. 1.00 Lac to Rs. 1.50 Lacs.
From F.Y. 2015-16, subscriber will be allowed tax deduction in addition to the deduction
allowed under Sec. 80CCD(1) for additional contribution in his NPS account subject to
maximum of Rs. 50,000/- under sec. 80CCD 1(B).

As a Point of Presence our functions starts from registration of the subscriber(s), carrying out
Know Your Client (KYC) requirements, receiving contributions & instructions from the
subscriber(s) and transmitting the same to the designated NPS intermediaries.
Illustration
This simple illestration will tell you how much pension you may get in National Pension System
(NPS), once you retire.

Your Present Age : 30 Years


Your Expected Retirement Age : 60 Years


Investment Amount : Rs. 2,000 per month (To avail maximum tax benefit, contribute
10% of your Basic income + DA towards NPS )

Assumed Rate of Return : 8%


On reaching your retirement at : 60 years


The Principal amount you have paid is : Rs. 7,20,000


Interest earned on your Investment is(on monthly compounded basis) is: Rs. 22,48,609

Total Tax saved is : Rs. 2,16,000


Total Pension Accumulated is : Rs. 29,68,609


Highlights

Minimum annual contribution of Rs 1,000 a year


You get Permanent Retirement Account Number


Choice of 7 Pension Fund Options


Choice of Lifestyle Fund- Auto allocation of funds as per age


Choose your fund manager


Start getting pension from annuity serviceprovider after age 60


NPS can be run parallel to Superannuation, Gratuity, PF, EPF and any other pension
schemes offered to the employees of organized entities.
Disclaimer:
This Illustration is only for Information purpose. Change in Tax laws may affect the Return on
Investment. Mutual Funds Investments are subject to market risks. Please read all scheme related
documents carefully before Investing.
Welcome to Bajaj Capital Realty
Bajaj Capital Realty, a part of the Bajaj Capital Group is a full services provider of Real Estate
services offering Real estate solutions across its Residential,Commercial and Retail space . We
aim to give unparalleled service, unbiased advice in helping you make Real Estate investment
decisions.
Our lineage of Bajaj Capital which is India's one of the oldest and largest investment services
firm over last five decades and having served a million plus Indian Investors across the world ,
put us in a unique position to provide the same to the Real estate Investors. Our focus on
maximizing returns based on your unique requirements , budgets, location etc. make us stand out
from the rest.
We do a rigorous evaluation of builders and projects and promote projects by professional and
reputed builders who are focused on timely deliveries and those who hon our these
commitments.

Bajaj Capital Realty, a constituent of the Bajaj Capital Group, offers the complete range of
services related to purchase/sale/leasing of residential and commercial property.

What you can expect from us :-

Unbiased, independent and need-based advice

Prompt, courteous service

Honest, ethical dealings

Accessibility

Property has long been considered a good investment. However, many property buyers feel
constrained due to lack of expertise in evaluating properties, both from the investment point of
view as well as for own residential or commercial use with over four decades of experience in
the investment advisory business and a reputation of being an unbiased and independent advisor,
Bajaj Capital Reality was rightly poised to enter the real estate advisory business. Bajaj Capital
Reality was born in April 2006.

Bajaj Capital Realty - Four Decades of Excellence For over four decades, Bajaj Capital has been
helping people realise their aspirations by investing wisely. Today, Bajaj Capital is one of India's
foremost Financial Planning and Investment Advisory companies, with a strong presence all over
the country. We take pride in serving our customers - both individual and institutional - and are
known for our strong professionalism and work ethics.

Bajaj Capital At A Glance :-

Wide range of products and services

42 years' experience as Investment Advisors and Financial Planners

More than a Million satisfied clients all over India

Countrywide network of more than 200 branches

Over 12,000 NRI clients across the globe

Personalised wealth management advice

Strong team of qualified and experienced professionals including CAs, MBAs,


MBEs, CFPs, CSs, Insurance experts, Legal experts and others

SEBI-Approved Category

Merchant Bankers
Financial Assessment
Financial Assessment is a unique software-based simulation that takes a holistic view of your
life-long financial needs and charts a personalized investment solution to help you meet them.

Introduction
Financial Assessment
The only thing permanent in life is "change". Time change. People change. So does life. You
expect life to be much better tomorrow than it is today. Tomorrow, you hope to fulfill all your
dreams and aspirations. But what happens, if things take an untoward turn? What if life doesn’t
happen the way you planned it for? At Bajaj Capital, we understand this. We know that an
unexpected change in your financial situation can be incredibly stressful. Hence, we help you in
your need analysis, to assess your financial health. We make sure that whatever be the situation;
financially your life will never go unrestrained. So, we bring for you the most preferred solution:
Financial Assessment!
Bajaj Capital receives 'Best performing Financial Advisor Retail' in the UTI Mutual Fund &
CNBC TV 18 - Financial Advisor Awards 2016 - 17

By Corporate Communication Team Bajaj Capital

As published in Media Release on Tuesday, July 18, 2017

To recognize the vital role of financial advisors in preserving wealth and giving sound advice to
investors, Financial Awards 2016 - 17 presented by CNBC TV 18 & UTI MF, honored Bajaj
Capital - India's premier "Investment Services" Company with 'Best performing Financial
Advisor Retail'. These awards considered to be the most prestigious awards of the financial
advisor industry. Mr. Rajiv Bajaj - Chairman, Bajaj Capital was himself present to receive the
award.

These awards witnessed the participation of over 30000 application forms from across the
country in three categories namely: Individual Financial Advisor, National/Regional Financial
Advisor, and National/Regional Financial Advisor Banks.
On this occasion, Mr. Rajiv Bajaj - Chairman, Bajaj Capital said, ''This one is special as it's our
hat-trick of CNBC Best Financial Advisor award for three years running. CNBC awards involve
rigorous process and we are humbled that the grand jury found us worthy of retaining this title. I
wish to dedicate this award to entire Bajaj Capital team and our valuable clients. The new Bajaj
Capital journey has just begun, with many exciting milestones ahead. This award is a deification
to middle income Indian investors who constitute the backbone of our company.

About Bajaj Capital:

Established in 1964, Bajaj Capital Ltd. (SEBI-approved Category I Merchant Bankers) is one of
India's premier Investment Services firms, offering personalized services to individual investors,
Non-Resident Indians (NRIs) and High Networth clients, among others. As one of's largest
distributors of investment products, the company offers a wide range of investment products
such as mutual funds, bonds, fixed income products offered by reputed public, private and
government organizations.

Since 52 years, Bajaj Capital has been helping millions of individual clients (approx 3.5 lacs
families) creating and protecting the wealth with over 200 branches in more than 100 cities. It
has a strong team of 1500 qualified and experienced professionals to back the investor services.

Bajaj Capital are the pioneers, who introduced the concept of 'Financial Planning' in India and
the company had been adjudged, The Economic Times Best BFSI Brands 2016, Best Financial
Advisor 2009, 2011, 2013, 2015 and 2016 by CNBC TV18 & UTI-MF and Great Place to Work
2011
MARKETING ANALYSIS
What Should be your Investment Strategy in the Current market scenario and where should
you be investing now - Equity, Debt or Gold?
By Mr. Rajiv Bajaj- VC & MD Bajaj Capital
As published in The Economic Times Wealth "200th Special Issue" on Monday, October 6, 2014
While Sebi's 2013 investment advisory guidelines are encouraging for financial advisors who
want to build a fee-based model, the shift towards it will take time, says Rajiv Bajaj in an
interview with The Economic Times – Wealth 200th Edition.
Que: The mutual fund industry has been launching lots of closed-end funds. What are the
pros and cons of these funds for investors?

Closed-end debt funds have been very popular for long, especially FMPs (fixed maturity plans)
and capital protection oriented funds, to name a few. While closed-end debt funds take care of
issues like interest-rate movements, they also give comfort to the fund manager as he knows the
time horizon of the fund.

The same logic applies on the equity side. ELSS funds are a case in point. Because of the three-
year lock-in, past performance shows that fund managers have been able to do a consistent job
with these funds over decades. Recently, closed-end mid- and small-cap funds and value funds
have fared well, like Sundaram Micro Cap, ICICI Value Fund, and so on.

Their disadvantage obviously is the lack of liquidity. Hence, only investors with free cash flows
and those looking to accumulate wealth should invest in these funds.

We are fussy about choosing closed-end funds for our clients. We do not consider them unless
there is a genuinely good investment idea where the fund manager can reap the benefit of patient
investing.
Que: What are the common mistakes investors commit during sharp bull runs of the type
we have witnessed in recent months?
In such times, investors' mistakes arise from extrapolation and scepticism. Extrapolation means
that investors tend to extrapolate recent performance into the near future. So if the markets have
risen by 50 per cent in the past one year, they expect another 50 per cent rise in the next one
year. Based on the theory of mean reversion, one should actually expect a subpar performance in
the near term if the markets have risen sharply in recent times.

Scepticism refers to the tendency of investors who have missed the rally to doubt the markets.
They feel that the markets have risen too much, too soon and should come down. They wait to
buy on dips that are elusive. By the time they realize their mistake, it's too late and they have
missed the bus. In either case, it is difficult for investors to gather the courage to invest large
amounts on a lump sum basis. A prudent way to invest after a sharp rally is to stagger
investments by making use of systematic transfer plans (STP) and SIPs.

Que: While equities have been doing well, gold has been under-performing. What would
your advice be regarding this asset class?
Gold under-performs when real interest rates are positive. With QE tapering and the likely rise in
interest rates in 2015 in the US, the under-performance of gold is not surprising.

However, gold should be treated as a hedge in these times. Global volatility, represented by VIX
indices for stock markets, is near all-time lows and crude oil prices are at sub-$100 levels. But
with continuing strife in the Middle East and Ukraine, gold at approximately $1,220 per ounce is
an attractive hedge against a rise in volatility. We believe investors should allocate 5-10 per cent
of their portfolio to gold.

Que: Regarding debt mutual funds, the expected capital gains due to decline in interest
rates has not happened for a long while. This year's Budget also made the tax provisions
for debt funds more unfavourable. What would your advice to investors be regarding these
funds?
Maintain a diversified sub-asset allocation to them. Debt funds follow two strategies: duration
and accrual. While long-duration funds have underperformed over the past 14-15 months, short
duration and accrual strategies have delivered returns in high single digits. The outlook for long-
duration funds remains uncertain. Low oil prices, moderating core inflation and prospects of
improving fiscal deficit are positive for them. But the prospect of a rise in US interest rates is
negative. The risk-reward dynamic remains unfavourable for them.

Short duration and accrual funds are more favourably placed. The yield curve is flat at present
and for it to normalise, short-term yields need to come down. Accrual continues to be attractive
as corporate bond spreads are high and are likely to fall because of rating upgrades. Investors
should hence have more allocation to short duration and accrual strategies in debt.

The change of treatment of long-term capital gains from 1 to 3 years has not made much
difference to patient retail investors. Since inflation has been high in recent years, the incidence
of capital gains tax after indexation has been minimal. So investors are happy to stay put. Mutual
funds have been proactive in offering the roll over mechanism in less than 3-year FMPs to
investors. Most investors have availed of this option.

Que: How financial planning oriented is your advice? And to what extent are Indian
customers willing to pay for financial advice?
A financial planning based approach is at the core of Bajaj Capital's business strategy. We do not
suggest any product to a client unless we have done his basic need analysis and understood his
goals. Today more than 50 per cent of our clients voluntarily go for our 360° financial
assessment where we take a detailed look at their cash flows and lifetime financial goals before
they choose any product for investment through us.
Shifting to a totally fee-based model is going to be gradual. But I must say that SEBI's
investment advisory guidelines of 2013 are a big boost for players who want to build a feebased
model in the country. We have also been licensed by SEBI to be investment advisors and will
launch our fee-only service for a specific segment of the market very shortly.
Milestones

To achieve individual targets fixed by the Branch Head.

 Excel/Specialize in one or more products to market the same & also responsible for
achievement of targets for the same.

 To attend Retail Clients with main emphasis on addition of such clients.

 To provide support for Gen. Branch administration & Back – Office operations (e.g.
maintaining records / Files / Database of Clients, sending mailers /Insertions and renewal
reminders.

 To Provide support function to CRM /ACRM (e.g. in preparing presentations, to provide


after sales service & co-ordinate with Reg. /Head office for any requirement like forms,
stationary etc)
1.2.3: Mission & Vision

Mission Statement

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

Our Aims

 To serve our clients with utmost dedication and integrity so that we exceed their
expectations and build enduring relationships.

 To offer unparalleled quality of service through complete knowledge of products,


constant innovation in services and use of the latest technology.

 To always give honest and unbiased financial advice and earn our cilent's everlasting
trust.

 To serve the community by educating individuals on the merits of Financial Planning and
in turn help shape a financially strong society.

 To create value for all stake holders by ensuring profitable growth.

 To build an amicable environment that accords respect to every individual and permits
their personal growth.

 To utilize the power of teamwork to function as a family and build a seamless


organization.
Our Vision

 To be the most preferred financial planning and investment advisory company in India by
providing consumers with informed choices of lasting value,
create wealth for them to make their tomorrow better than today.

1.2. 4. Product range of the company

 Financial Planning
o 360°Financial Planning
o Investment Planning
o Insurance Planning
o Retirement Planning
o Tax Planning
o Children's Future Planning
o Cash Flow Planning
o Portfolio Tracker
o Financial Planning Tools

 Mutual Funds
o Top Funds
o Latest NAV
o Historical NAV
o Current NFOs
o Compare Funds
o Dividends Declared
o Fund Barometer

 Insurance
o Life Insurance Products
o Term Insurance Premium
o General Insurance Products
o General Insurance Brochures
o Health Insurance Premium
o Insurance Policy Reminder
o ULIP Multimeter

 Calculators
o Crorepati Calculator
o Child Education Planner
o Child Marriage Planner
o Pension / Retirement Planner
o Future Value Calculator
o Maturity Yield Calculator
o Human Life Value Calculator

Financial Planning

The only thing permanent in life is change. Times change. People change. So does life. You
expect life to be much better tomorrow than it is today. Tomorrow, you hope to fulfill all your
dreams and aspirations.But what happens if things take an untoward turn? What if life doesn’t
happen the way you planned it for? At Bajaj Capital we understand this. We know that an
unexpected change in your financial situation can be incredibly stressful. Hence we help you
plan your financial life. We make sure that whatever be the situation; financially your life never
goes unrestrained.So we bring for you the most preferred solution:

Insurance Planning
Insurance Planning is concerned with ensuring adequate coverage against insurable
risks.Calculating the right level.

Tax Planning

Proper tax planning is a basic duty of every person which should be carried out religiously.
Basically, there are three steps in tax.

Children's Future Planning

The purpose of Children's Future Planning is to create a corpus for foreseeable expenditures such
as those on higher education.

Investment Planning
Investment Planning involves identifying your financial goals throughout your life, and
prioritising them. Investment Planning is.

Retirement Planning

It is important to plan for your life post-retirement if you wish to retain your financial
independence and maintain a comfortable standard.
Short Term Cash Flow

Cash Flow Planning refers to the process of identifying the major expenditures in future (both
short-term and long-term)

Financial Planning Tools

Our financial tools, financial calculators, insurance calcualtors help our investors to do their
financial and investment....
1.2.5 Organization Structure

Organization structure of the company

Fig. 1..1: Organization chart


Market share & position of the company in the industry.

Fig. 1.2: share price


1.3 Introduction to the Topic/Title/Problem Studied

Competition Information

MARKET SHARE STRUCTURE:

MARKET CAPITAL ( Rs Crore)

(FINANCIAL YEAR 2009-10)

PUNJAB NATIONAL BANK 16,232

ICICI BANK 79,378

UCO BANK 3,241

IDBI BANK 6,306

SBI 96,082

INDIAN OVERSEAS BANK 5,331

BANK OF INDIA 14,999

UNION BANK 7,779

ANDHRA BANK 2,864


1%

3% 7%
2% 7%
PNB
ICICI
UCO BANK
IDBI
34%
SBI
I. O. BANK

41%
BANK OF INDIA
UNION BANK
ANDHRA BANK
2%
3%

INNOVATIVE MARKETING STRATEGIES OF BAJAJ CAPITAL IN MUTUAL


FUNDS INDUSTRY IN INDIA

Role in Innovation in Financial Products and Services

According to, Innovation in financial services: A McKinsey Global Survey, a recent McKinsey
Quarterly survey found that financial-services executives see innovation as important to the
performance of their companies. “They view product innovation as most important and expect a
growing role for business model innovation.” It also found that a majority of executives say
innovation is more challenging for financial-services firms than for other companies, mostly
because of short-term financial pressure. Executives rate their companies as no better than
adequate at fostering innovation through practices such as using consumer insights to drive new
ideas and dedicating people, processes, and funds to innovation and most executives expect their
company’s spending on innovation to increase. Scott J. Edgett in The New Product Development
Process for Commercial Financial Services outlines why the Financial Services need to focus on
new product development and better process. He lists some of the aspects affecting the current
situation which involves the combined pressures of:

 Increased competition
 Rapidly changing marketplace
 New technology
 New and pending legislative changes

“The attention of senior executives in the financial services industry is increasingly being
focused on how well the new product development process is working within their institutions.”
It is imperative to be able to design, develop, and launch new products that are winners [Edgett,
Scott J.]. The study showed that a success rate of only 62.5% of projects launched were a
commercial success, leaving significant room for improvement. The study also found that most
companies take short cuts and the execution of the product process was never fully completed
and generally only had a “moderate quality of execution”. It has been discovered that
“institutions that follow a systematic process have greater success.” So it is imperative to look at
this with regards to research and development, without a successful product development process
RD&I will not be utilized to its full potential.

Constant innovation key to success

A constant attempt at innovation, both in terms of product and service, holds the key for success
of business in a competitive world, where consumer satisfaction is the main mantra, Mr V.R.
Muthu, Chief Executive Officer, Idhayam Group of Companies, Virudhunagar, has said.
Inaugurating the Business Line Club at the Alagappa University, here, Mr Muthu said innovation
for improving the quality of the product is necessary, as consumers would reject an inferior
product. Innovation helps make a difference and attracts a consumer to a particular brand.
Advertisements are an effort towards reaching the consumer and the television has proved to be a
powerful medium. Impressed by an advertisement a consumer might chose to buy a product
initially but would not continue to do so if it is of inferior quality, he observed.

However, quality alone would not be enough in a competitive world. If the market is to be
expanded, one must know the preferences of the consumers and provide the product/ service
according to their needs. This has led to a search for value addition in every product that comes
to the market today. It must be realised that innovation happens only when knowledge is
acquired and the society that acquires the necessary knowledge becomes the leader in the field
and the company that brings the same to application becomes the leader in the chosen field.
Fundamentally, the research towards continuous improvement is the bedrock of development and
success, he said.

A great deal of innovation in the industry takes place at the level of index providers such as
Stoxx, which is now exploring the opportunities opened up its new ownership structure
following the purchase of the stake previously held by Dow Jones by existing shareholders
Deutsche Börse and Six Group. According to Konrad Sippel, responsible for global product
development and sales at the firm, the change not only allows Stoxx to absorb the index
businesses of its two shareholders into a combined business but will enable it to extend its focus,
previously limited to Europe under the agreement with Dow Jones, to the global market. “When
developing new indices we usually work very closely with the market and with our in-house
experts,” he says. “We have a group of financial engineers that continuously bring up innovative
ideas, test them in the market and develop them further in collaboration with market participants.
We also listen to what market participants need and create custom and branded solutions for our
clients. The best example of that is probably the series of optimised sector indices launched in
the past year.”

Sippel believes the shift toward ever-greater customisation is set to intensify. “Index
development trends are constantly moving toward individualisation,” he says. “The time of the
big benchmarks has passed in some respects – those areas of the market are well covered.
However, we see increasing demand from clients seeking individual solutions in terms of
risk/return profile, specific market exposure and specific risk exposure, and we are working hard
to provide our clients with the right framework for these indices.” Among the most active
developers of new products is db x-trackers, the ETF business launched by Deutsche Bank. “We
have been very innovative over the past year, for instance with the launch of our hedge fund
ETF,” says Simon Klein, head of db x-trackers sales for continental Europe. “We were the first
ETF provider to launch a product based on hedge fund exposure, and we are now bringing
leveraged long and short ETFs to the market. “We will also focus on illiquid asset classes such as
the EPRA real estate indices, and create more unique products such as our recently-launched
China A-share ETF, which was the first Ucits III-compliant ETF investing on China A-shares. In
addition, we also recently launched our exchange-traded commodity platform, and we plan to list
another 30 ETCs by the end of the year.”

Exchange-traded commodities have been a major growth area during the crisis period and more
providers are coming into the market (another recent entrant is UBS). However, pride of place is
held by ETF Securities, whose founders launched the ETC concept in Australia in the early
2000s and which now has an extensive commodities platform spanning Europe, the US, Japan
and Australia. While its ETC platform continues to expand geographically, ETF Securities has
also been active in other areas, such as the launch of ETF Exchange, an ETF platform backed by
a consortium of banks. “So far we have Barclays, Citibank, Merrill Lynch and Rabobank on the
platform,” says head of sales Scott Thompson. “The banks increasingly want to get involved in
the growth of ETFs, but it’s an expensive business with a high fixed cost base. Joining a platform
allows those costs to be shared and the banks to leverage their distribution capabilities.

India's mutual fund market is booming, with new players and financial products entering the
market. Existing players are introducing new investment avenues and innovations in existing
schemes - the latest being facilities for free insurance. Service innovations include gold exchange
traded funds, capital protection funds and funds focussing on real estate. "Service and product
innovations are a must in today's scenario, as they not only help in attracting investors, but also
increase sales of existing schemes," said R S Srinivas Jain, chief marketing officer, SBI Funds
Management Pvt Ltd. Investors must also look at the quality of service provided by the mutual
fund, he added. "The 70% of payments our clients have made electronically is the highest figure
in the industry, according to available data. We aim to increase this to 85% this fiscal. Efforts are
on to tie-up with other banks to make payments hassle-free and timely," Jain added.

SBI Funds claims the industry is still developing, and there is a lot of scope for new players as
well as existing ones, since the total investments in the industry still lag behind that in developed
and other developing countries. "Investments in the industry, as measured by assets under
management, is less than 10% of GDP. This is less than half the figure in Japan and Korea. New
players are not a serious threat, though existing players may witness a marginal fall in their
share. The industry has enough scope for both to exist simultaneously," said Achal Kumar
Gupta, managing director, SBI Funds Management. Quoting a recent McKinsey report, he said
the industry was poised to grow at a compounded annual rate of 30-35% over the next five years.
"The future of the industry looks good, but education and awareness among investors, is
required, as these act as a hurdle to growth," he added.

Customer Orientation in Designing Mutual Fund Products

The mutual fund industry in India has evolved little over three decades but the real impetus has
come after the changes in the mutual fund regulations in early 80s. Private and foreign mutual
funds are operating in the Indian market and constitute a substantial portion of the mutual fund
industry. Today the industry consists of Unit Trust of India, mutual funds sponsored by public
sector banks and insurance corporations, private and foreign mutual funds. Investors are
constantly being bombarded by questions concerning their risk profile. Either a money market or
guilt fund is targeted for the risk averse or a low graded company offering a high return on its
fixed deposits. Banks like Citibank , ANZ Grindlays, Deutsche bank, Hongkong bank,
Commerze bank, Banque nationale de Paris and HDFC bank are not only aggressively marketing
funds many are also planning to launch their own. The list of potential entrants includes ABN
Amro, ANZ Grindlays, Hongkong bank and Jammu and Kashmir bank.

The Reserve Bank’s Currency and Finance report 1997-1998 shows that the investors’ appetite
for risk has diminished considerably. As much as 46% of the financial savings of the household
sector found its way back to bank deposits; 12% went in to Government savings plans and 18%
in to provident funds. Only a miniscule 2% wound up in the capital market and 4% in company
deposits. The mutual fund product designers have identified a strategic gap in the product
offering in the capital market and now are fighting a loosing battle with government savings
plans, bank deposits and provident funds. They are providing cheque facility on money market
mutual funds to make them more enticing and guilt funds for the risk averse.

Product innovations and new product combinations have started rolling in to the Indian market.
GIC mutual fund has launched an open-ended scheme named as GIC D’MAT in which 71 demat
scripts having a weight of nearly seventy- percent in the sensex and the Nifty are being marked
for trading. The specialty of this new product is that investors will have an opportunity to
exchange their holdings of scrips, which are available for dematerialization with units of this
scheme. There are 252 mutual fund schemes and are likely to go higher in the future. The reason
for launching of these large number of mutual fund products is the distributed pattern of
investment behavior of Indian small investor .The purchase decision of a mutual fund is largely
dependant upon investors level of savings, investment pattern and the risk profile.

Many managers are now taking interest in designing mutual fund products with multi feature
options for investors. Customers are often benefited from the improvements that are offered by
new features, for example by enhanced quality products [Garvin (1984)]. These additions of
features also offer advantages to others in the value chain. For the mutual fund agents new
features provide new sales arguments in seller buyer interaction. New features do not only infuse
single products but also entire product categories periodically with new lease of life [Broadbent
(1980), Dowdy W.L. (1986)]. Based on the literature [Kotler (2000), Nicholas, (1992), Sen.
(1996), Starr(1992)] a product feature is defined as each identifiable aspect of the total offering
that a critical reference group perceives and evaluates as an “extra” to a known standard among
comparable products. The success of a mutual fund and its capacity largely depends on its ability
to mobilize funds.

On the total 252 mutual fund schemes are now available to the buyers out of which 103 are
income schemes and 94 are growth schemes. The rest are hybrids. The total assets under all
mutual funds are Rs. 90,685.25 crores. The share of Unit Trust of India continues to be stagnant
at 71 percent (64,637.37 crore). Private players now command assets of 17041.34 crore (19%).
Public sector funds are holding the least (10%) with Rs. 9006.54 crore assets. The Government
owned banks and UTI have 32 assured return schemes where as no private sector mutual funds
offer assured returns. The securities scam, unprecedented boom and the slow down in the
economy saw the Indian stock market enters through a prolonged phase of instability. Therefore
investor’s preferences shift from equity funds to fixed income and debt instruments. Due to the
reduction in the interest rate in USA the Indian bond market rallied in expectation of a similar
cut, debt funds staged a come back. Investors realize that an interest rate cut reduces the market
yield and hence, increases the demand for long term debt papers bearing high coupon rates. The
average annualized return for the quarter in debt funds was 14.64 which were much higher than
the returns posted by any other debt based investment instruments on a post tax basis.

The new mutual fund product launches had seen many of the equity based funds in the market
during this period, primarily to attract investors who would like to take advantage of the low
prices in the stock market but majority of the funds launched were debt funds. The budget has
also supported the cause of debt fund rather than equity due to a lower dividend distribution tax.
The investors hesitate to invest in the equity fund when the market is down but the marketing
and distribution cost of these incurred during this period does not reflect a rise in the investors’
choice. As a product manager one is ought to design mutual fund products, which shall combine
an optimal mix of return, risk liquidity and safety for the small investors.

Loading of Selected Variables on Key Factors


It is evident from the analysis that the changing preferences of the investor create many new
needs, which may be controlled by key determinants. Table- V depicts that the first factor
identified with product features are awareness of attribute of the product, hassle free trading,
exclusivity for small investors, ownership of the product, technology, lock in period and brand
name. These attributes can be grouped under Factor- 1 and termed as Core Product. These are
the core part of a mutual fund product, which are common expectation of any customer while
making a purchase decision. The second factor is designated Performance Factor on the basis
of the loaded variables. The data set of the Factor-2 loading indicates that among various product
feature variables, performance of the fund, safety, liquidity, regular income, tax benefit,
emergency need fulfillment attributes are found to be important by customers for making a brand
choice. This is an indicator that by sheer name of the company no mutual fund product is going
to survive and grow in the market. This is supported by the recent series of poor performances of
UTI in the Indian Market. People are no more looking in to the name for making decision. The
market has moved purely from a market of single choice to a competitive choice.

This kind of consumer orientation is good for the Indian market. It not only offers a basket of
products to choose from but also makes the fund managers to think and take prudent decision
regarding the investment and market capitalization. Unless the fund provides growth equipped
with assured return and high liquidity the market response is going to be poor. While designing a
mutual fund product the product manager has to be concerned about offering a mix of
combination in risk return and liquidity. Thus performance factor of the fund expressed in its
NAV details is an influential variable in the purchase decision of the investor making it the most
tangible component visible to the investor in the offering.

It shows the significance for transparency, service behaviors and delivery schedule. This factor
suggests that the process of delivery should be prompt and on time. An investor’s service
expectation statement should be the vision for the organization to aspire for. This component of
service augmentation or “Augment Part” of the product makes it mandatory on the part of the
fund manager to provide services in a continuous basis so that the customer stays loyal and
happy with the fund and responds to changing need of the customers
It includes attributes such as sponsor reputation, advertisements, Broker/Agents
recommendations, friend/ relative suggestion. This element is more important in a competitive
market where most of the product offerings are similar and the customer finds it difficult to take
a decision. In an advanced and matured market like that of urban India what needs to be done for
the success of a mutual fund is a high degree of persuasive communication than the current
practice. Present communication and promotions about various mutual fund products in India are
informative only. As the market has advanced to a higher level what needs to be done is to
promote own brands than promoting the category only for attracting investors of mutual fund.
The concept of brand image and market goodwill generated out of past performance of mutual
fund is explained by the term sponsor reputation.

It clearly indicates the combination of three attributes such as performance guarantee, assured
return and degree of capital appreciation. This factor is termed as investor’s confidence factor,
which is built over a period of time due to consistency in performance and transparency in
market behavior. The five factors explained above are the proposed product combinations of a
mutual fund offering to the investors. If the product designers will be careful about these key
issues while designing a brand of mutual fund then only the brand will see a higher customer
response and enjoy market success.

The Whole Mutual Fund Product


Where F1: -Core Expectations

F2: -Tangible Product (Market Performance)

F3: -Augment Product (Service Behavior)

F4: -Persuasive Communication

F5: - Confidence Factor

Critical Risk Factors of Product Innovation

For financial institutions, product innovation entails both opportunity and risk. Opportunities are
numerous and include, for example: providing better service offerings to respond to increasingly
dynamic markets, deregulation and shifting industry boundaries to eliminate the traditional
barriers of market entry; and learning new ways to narrow the gap to the world leading
competitors. At the same time, product innovation is extremely risky. Unfortunately, the rate of
success tends to be low, and the outcome tends to be poor. The risk of innovation is additionally
magnified by the own risk attribute of financial services industry. To control the risk and achieve
better performance of product innovation, financial institutions should identify the critical risks
and enrich the methods of risk management.

Compared with abundant studies for the risk management of technological innovation for
manufacturing sector, only in recent years have studies on new product success factors been
undertaken in the financial services sector. As same as the development course of studies for
technological innovation, the studies for risk in financial product innovation firstly begin with
the determinant factors to success and failure, for the failure is the highest risk in innovation. An
important conclusion drawn from these studies is that how companies orchestrate their
development activities has a significant impact on new service performance. In other words,
successful new services rarely happen by chance. Rather, they are the result of a well-designed
organizational effort and a carefully coordinated new service development process. Edgett also
suggests that the new product process impacts the success rates of new commercial financial
services, and success is manageable on the basis of a rigorous new product process, early upfront
marketing and quality of execution. Over time, financial institutions should be in a position to
reap the competitive benefits of a “high quality” new product process. For success factors of
financial product innovation, Easingwood and Storey reveal these key factors as internal
marketing and synergy, communications strategy, overall quality, technological advantage, use
of market research, distribution support, direct mail support, and responsiveness. By further
study, they suggest that the success of a new financial product should owe to not a unique factor,
but at least four factors as overall quality, discrepant product, product synergy, and use of
technology. De Brentani uncovers six factors appear to provide a good description of the key
dimensions that encompass the development of new industrial services in financial firms
including formal up-front design and evaluation, formal and extensive launch programme,
supportive and high-involvement NSD environment, marketing-dominated NSD process,
customer-driven NSD, and expert-driven NSD. Edgett and Parkinson abstract eleven
interpretable factors as organizational factor, resource allocation, formalization, preliminary
assessment, market research, design testing, business/financial analysis, product launch
effectiveness, project updates, market synergy, and market potential. Harrison reckons the
material factors which determines the success of a new financial service include formal
preliminary design and assessment, formal and elaborate launch process, supportive and highly
compatible environment, strong market orientation, customer orientation ensuring idea steps
from the customer, importance of internal experts in the process of idea generation and new
product plan, product with significant different from other products in the marker. Moreover, for
imitative innovation, speed of response and control of cost are necessary. Avlonitis et al.
proposes the determinant factors in the development activities as idea generation and screening,
business analysis and marketing strategy, technical development, testing, and launching.

Along with the simple standard of success and failure in innovation further measured by
quantitative dimensions of innovation performance, the emphases of study turns to innovation
performance and the corresponding risk factors. According to the framework provided by
Cooper et al., new product performance in financial services sector can be viewed on three
different and independent performance dimensions – financial performance, relationship
enhancement, and market development. The numerous characteristics or variables that capture
the nature of new financial service are reduced to eleven underlying factors – marketing synergy,
a market-driven new product process, effective marketing communications, customer service,
managerial and financial synergy, launch preparation, product responsiveness, product
advantage, innovative technology, reputation, proficient operating and delivery systems. Each of
these eleven factors is then tested for its impact on new product performance, against each of the
three performance dimensions. Storey and Easingwood measure new service performance as
three dimensions – sales performance, enhanced opportunities, and profitability. Factor analysis
is used to reduce the large number of attributes of new service to a more manageable number of
underlying dimensions. Seven critical factors are found to be closely associated with outstanding
performance in new services – overall company/product fit, compatibility/importance, staff:
skills and support, distribution strength, effective communication, product/tangible quality,
quality of service delivery.

Bajaj Capital SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 3724


SWOT Analysis of Bajaj Capital with USP, Competition, STP (Segmentation, Targeting,
Positioning) - Marketing Analysis

Bajaj Capital

Parent Company BCL group

Category Brokerage Houses, Consumer Financial Services

Sector Banking and Financial Services

Tagline/ Slogan Always acting in your interest

USP Vast experience in Financial Advisory

STP

Segment Brokerage
Target Group Urban and Rural Investors

Positioning Complete Investment and Stock trading Solutions

SWOT Analysis

1. Diverse range of financial products


2. Known for transparent functioning
3. State of art I. T solutions for customers like “just trade”
Strengths 4. Has over 200 branches across states

1. Less penetration in rural areas


2. Lack of awareness due to Low publicity
Weaknesses 3. People with conservative mindsets prefer gold investment

1. Tapping the growing rural market opportunities


Opportunities 2. Earning Urban Youth looking for investment options

1. Stringent Economic measures by Government and RBI


Threats 2. Entry of foreign finance firms in Indian Market

Competition

1. Sharekhan
2. IIFL
Competitors 3. Indiabulls

In an interview with Bloomberg TV India show "'In Business'", VC & MD, Bajaj Capital - Mr.
Rajiv Bajaj, shares, where the mutual fund industry is heading, what is the reason of increasing
equity inflows in the year 2015 - 2016 and the factors influencing this growth. You can also read
the full interview below -

How has been the trend as far as Mutual Fund is concern?


Mutual Fund inflows are positive and consistent from last past 24 months, what had happened
that regime changes in the center have brought back the investors confidence . Investors, as we
say, always have money, whether they want to park the money or they have the confidence to
take it out of the bank and put it in other more productive avenues. So last 24 months, barring
one month in March the flows were positive. This trend has started off well in 2016 and there is
no reason why it should not build going forward.

Other Asset Classes are not doing well, do you think this could be the reason for stronger
flows in Mutual Fund?

Definitely, there is no alternative really, Real estate is down and is expected to be down for a
continuous period. So if last decade belongs to most of the wealthy investors and aspiring
investors, if they made money in Real Estate. In the next decade, it is believed that it is the
financial market where the money will be made. Now in financial market the Bank deposits rates
have been slipping down, Postal Saving Schemes rates are coming down. The avenues where
fixed return investors should put money are shrinking and with Gsec it is expected that it will
moderate further. So people are realizing that they need to look at Debt Funds as an alternative
vehicle.

The investors who have the long term goals to achieve like Retirement or other long-term
financial goals which are 5, 10 or 15 years away and that's the beauty of equity kicks in. So I
would say that , two factors which brought strong flows into Mutual Funds are increasingly
positive economic scenario, that's the first reason and second is that there are no avenues really
where other investment avenues are shrinking.

When you say the different type of funds, which fund do you think have strong inflows
going ahead?

We are Retail wealth management company and for us the jewel in the crown is the equity fund
flows and they have been increasing steadily. For the Industry as well as for us, the SIP Book,
people are increasingly realizing the importance of regular, disciplined way of investing and they
don't want to really try and beat the market because nobody has even beaten the market, in the
short term at least. People are realizing that strategy of investing in the market is more important
than to time the market. So that is why the SIP Book, today almost 3000 crores of monthly flows
and 1 crore SIP's in India. So that is really contributing to the asset build up. In addition to that,
we are seeing that investors are coming into accrual based funds as well as medium term
duration funds. And of course, people are parking their short term savings in Liquid Funds in
preference to saving the account, so that they can get 2-3% more and why should they be losing
it.

What kind of AUM Growth do you foresee for the Industry and for your company?

We are the part of the Private Mutual Fund Industry since the beginning, last 5 years trend has
been approximately Mutual Fund Industry to growth expected around 15%. And if you see last 2
years trend , 2014 – 2015, the growth was 24-25% and in 2015 – 16 it is 20%, so we are
benchmarking our growth at the same level. Now we are working on the strategy that how we
can actually beat the Industry growth. We have an online platform which we have just launched
and that should help us accelerate our resource mobilization in Mutual Funds.

Bajaj Capital, a retail-focused wealth management house, has forayed into the investment
advisory business on a fee-only model. For this venture, a separate company — Bajaj Capital
Investment Advisors — has been floated.

“We recently got the certificate of registration as an investment advisor from SEBI. A few pilots
have already started. The registration has been done under SEBI’s investment advisor regulations
issued in 2013,” Rajiv Bajaj, Vice-Chairman and Managing Director, Bajaj Capital, told
BusinessLine here.

Talks are on with various mutual fund houses to give this new venture a set of low-cost funds
wherein distribution costs are not embedded within the expense ratio, Bajaj said. The availability
of lower-cost funds should help the new company justify the advisory fees charged on
customers, he said Under SEBI’s investment advisor regulations, a company offering investment
advice on investment portfolio containing investment products should have a minimum capital of
₹25 lakh.

Pricing concerns

Meanwhile, to better manage the benign pricing conditions in the distribution industry, Bajaj
Capital has redrawn its strategies for the next five years.
The company plans to deepen both its online and physical presence, including allowing
customers to transact online through its electronic platform.

Bajaj Capital had roped in KPMG to help redraw its strategies and chart out a new course for this
50-year-old firm.

The recent ushering in of trail-based commission model will adversely affect the balance sheet of
Bajaj Capital for the next two years although it may be good for the long term, Bajaj said.

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HUMAN RECOURSES
WE CREATE WEALTH:
 45 years of experience as Investment Advisors and Financial Planners
 We give you impartial, research-based and need-based advice
 We offer a wide range of financial products and services
 Personalized wealth management advice: We offer investment guidance and portfolio
planning.
 Prompt, courteous service, 24 x 7 online accessibility- www.bajajcapital.com
 Countrywide network of over 200 branches
 Strong team of qualified and experienced professionals including CAs, MBAs, MBEs, CFPs,
CSs, Insurance Experts, Legal Experts and others
 SEBI-Approved Category I Merchant Bankers
 Group Co BCIBL is an IRDA-licensed Direct Insurance Broker
 While choosing an advisor, consider the following factors:

YOUR ADVISOR MUST BE AN ORGANISATION:


 Your advisor needs to outlive the life of your investments. This is possible only if your
advisor is a company or institution rather than an individual advisor. Also a company has
better resources, research expertise, standardized processes and qualified staff to render
quality advice and services. It is much safer to deal with a company that has a reputation for
honesty, integrity, transparency and ethical dealings than with an individual.

YOUR ADVISOR MUST BE EXPERINECED & REPUTED:


 Find out the background and certifications of the firm you want to appoint as your
investment advisor. The more the experience of your advisor, the better it is. Find out about
the advisor's clientele. This will give you a better idea of what to expect as a client— and
learning about their security guarantees will give you confidence that you're making the right
choice.
MUST HAVE AN ALL-INDIA PRESENCE:
 In today's dynamic world, you never know which place or city you might be located at, in the
future; an advisor with a national footprint will ensure that you do not miss his advice and
service, irrespective of your location.
KNOW THE PRODUCTS AND SERVICES:
 Decide what you need. Then choose invest advisory firm that caters to your needs and
matches your expectations. Know the breadth and depth of the investment firm's products,
the financial services it offers and the planning process it involves to make your wealth grow.
MUST HAVE A RESEARCH DEPARTMENT:
 This ensures that you get quality advice on time and are update about the market trends and
changes so that accordingly you can review your portfolio.
MUST HAVE AN ONLINE INVESTMENT PLATFORM:
Tech savvy investors will find this attribute very attractive as they will be able to keep track of
and manage their investments at the clic
------------------- in Rs. Cr. -------------------
Balance Sheet of Bajaj Finance
Mar 17 Mar 16 Mar 15 Mar 14 Mar 13

12 mths 12 mths 12 mths 12 mths 12 mths

EQUITIES AND LIABILITIES


SHAREHOLDER'S FUNDS
Equity Share Capital 109.37 53.55 50.00 49.75 49.78
Total Share Capital 109.37 53.55 50.00 49.75 49.78
Reserves and Surplus 9,490.94 7,271.06 4,749.70 3,941.11 3,317.26
Total Reserves and Surplus 9,490.94 7,271.06 4,749.70 3,941.11 3,317.26
Money Received Against Share
0.00 102.03 0.00 0.00 0.00
Warrants
Total Shareholders Funds 9,600.31 7,426.64 4,799.70 3,990.86 3,367.04
NON-CURRENT LIABILITIES
Long Term Borrowings 33,115.9625,286.97 18,273.62 10,477.76 7,503.08
Other Long Term Liabilities 484.87 447.40 135.77 57.35 41.96
Long Term Provisions 362.21 242.94 152.08 110.47 64.61
Total Non-Current Liabilities 33,963.0425,977.31 18,561.47 10,645.58 7,609.65
CURRENT LIABILITIES
Short Term Borrowings 16,133.6911,737.73 4,313.90 5,472.78 2,080.14
Trade Payables 528.81 300.91 269.00 195.92 168.95
Other Current Liabilities 2,565.98 888.65 4,699.90 4,186.85 4,502.51
Short Term Provisions 932.73 125.28 167.23 126.01 92.88
Total Current Liabilities 20,161.2113,052.57 9,450.03 9,981.56 6,844.48
Total Capital And Liabilities 63,724.5646,456.52 32,811.20 24,618.00 17,821.17
ASSETS
NON-CURRENT ASSETS
Tangible Assets 285.90 242.95 218.26 196.84 164.43
Intangible Assets 75.23 44.05 30.92 23.03 11.78
Fixed Assets 361.13 287.00 249.18 219.87 176.21
Non-Current Investments 1,090.30 485.15 175.09 0.00 5.26
Deferred Tax Assets [Net] 369.07 280.04 212.28 139.16 90.37
Long Term Loans And Advances 32,087.9624,878.34 18,119.67 13,852.42 9,634.44
Other Non-Current Assets 0.00 0.00 88.60 112.44 0.00
Total Non-Current Assets 33,908.4625,930.53 18,844.82 14,323.89 9,906.28
CURRENT ASSETS
Current Investments 2,984.40 548.92 157.20 28.21 0.00
Trade Receivables 25,654.630.00 0.00 0.00 0.00
Cash And Cash Equivalents 356.52 1,329.15 219.66 776.81 416.40
Short Term Loans And Advances 496.79 18,436.10 13,423.68 9,410.37 7,430.29
OtherCurrentAssets 323.76 211.82 165.84 78.72 68.20
Total Current Assets 29,816.1020,525.99 13,966.38 10,294.11 7,914.89
Total Assets 63,724.5646,456.52 32,811.20 24,618.00 17,821.17
OTHER ADDITIONAL INFORMATION
CONTINGENT LIABILITIES,
COMMITMENTS
Contingent Liabilities 1,462.39 216.09 244.64 254.61 263.03
CIF VALUE OF IMPORTS
EXPENDITURE IN FOREIGN
EXCHANGE
Expenditure In Foreign Currency 17.56 14.83 6.36 4.41 2.77
REMITTANCES IN FOREIGN
CURRENCIES FOR DIVIDENDS
Dividend Remittance In Foreign
- - - - -
Currency
EARNINGS IN FOREIGN EXCHANGE
FOB Value Of Goods - - - - -
Other Earnings - - - - -
BONUS DETAILS
Bonus Equity Share Capital - - - - -
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted
- - - - 0.03
Market Value
Non-Current Investments
328.00 28.00 175.09 - 5.26
Unquoted Book Value
CURRENT INVESTMENTS
Current Investments Quoted
- - 0.04 0.04 -
Market Value
Current Investments Unquoted
- 260.00 157.20 28.21 -
Book Value
Profit & Loss account of Bajaj------------------- in Rs. Cr. -------------------
Finance
Mar 17 Mar 16 Mar 15 Mar 14 Mar 13

12 mths 12 mths 12 mths 12 mths 12 mths

INCOME
Revenue From Operations
9,272.33 6,956.59 5,119.97 3,788.55 2,924.79
[Gross]
Revenue From Operations [Net] 9,272.33 6,956.59 5,119.97 3,788.55 2,924.79
Other Operating Revenues 705.03 347.72 261.83 242.87 168.93
Total Operating Revenues 9,977.36 7,304.31 5,381.80 4,031.42 3,093.72
Other Income 25.95 79.17 36.43 41.91 17.65
Total Revenue 10,003.317,383.48 5,418.23 4,073.33 3,111.37
EXPENSES
Employee Benefit Expenses 931.67 629.63 450.73 340.81 245.15
Finance Costs 3,803.37 2,926.86 2,248.30 1,573.24 1,205.68
Provsions and Contingencies 818.19 542.85 384.56 257.81 181.75
Depreciation And Amortisation
71.16 56.34 35.60 29.19 15.14
Expenses
Other Expenses 1,561.40 1,263.23 942.10 781.12 592.05
Total Expenses 7,185.79 5,418.91 4,061.29 2,982.17 2,239.77
Mar 17 Mar 16 Mar 15 Mar 14 Mar 13

12 mths 12 mths 12 mths 12 mths 12 mths

Profit/Loss Before Exceptional,


2,817.52 1,964.57 1,356.94 1,091.16 871.60
ExtraOrdinary Items And Tax
Profit/Loss Before Tax 2,817.52 1,964.57 1,356.94 1,091.16 871.60
Tax Expenses-Continued Operations
Current Tax 1,070.00 753.81 531.75 421.00 301.50
Deferred Tax -89.03 -67.76 -73.12 -48.79 -21.21
Tax For Earlier Years 0.00 0.00 0.44 -0.06 0.00
Total Tax Expenses 980.97 686.05 459.07 372.15 280.29
Profit/Loss After Tax And
1,836.55 1,278.52 897.87 719.01 591.31
Before ExtraOrdinary Items
Profit/Loss From Continuing
1,836.55 1,278.52 897.87 719.01 591.31
Operations
Profit/Loss For The Period 1,836.55 1,278.52 897.87 719.01 591.31
Mar 17 Mar 16 Mar 15 Mar 14 Mar 13

12 mths 12 mths 12 mths 12 mths 12 mths

OTHER ADDITIONAL INFORMATION


EARNINGS PER SHARE
Basic EPS (Rs.) 34.01 242.30 180.00 145.00 136.00
Diluted EPS (Rs.) 33.67 238.83 178.00 144.00 135.00
VALUE OF IMPORTED AND
INDIGENIOUS RAW MATERIALS
STORES, SPARES AND LOOSE TOOLS
DIVIDEND AND DIVIDEND
PERCENTAGE
Equity Share Dividend 0.00 140.57 90.27 80.23 74.67
Tax On Dividend 0.00 28.70 18.38 13.63 12.69
Equity Dividend Rate (%) 0.00 250.00 180.00 160.00 150.00