FRR FOREX PVT. LTD.

SUMMER INTERNSHIP ON TOPIC BRAND AWARENESS AND BRAND BUILDING AMONG THE PUBLIC

COMPANY GUIDE Ashish saroopria (BRANCH MANAGER

SUBMITTED BY:PRIYANSHU PORWAL (MBA SECOND YEAR)

TABLE OF CONTENT

Sr. No

Topic

Page No.

1 2 3 4 5 6 7 8 9 10

ACKNOWLEDGEMENT DECLARATION EXECUTIVE SUMMARY INTRODUCTION COMPANY AND PRODUCT PROFILE SECONDARY RESEARCH DATA ANALYSIS & INTERPRETATION CONCLUSION RECOMMENDATION BIBLIOGRAPHY

11 12

APPENDIX

Acknowledgement I acclaim with great zeal my heartfelt thanks to all those who persuaded me to depict and accomplish my project smoothly and rationally. I wish to acknowledge my sincere gratitude to Mr. NITIN JOSHI, HOD of SINHGAD INSTITUTE OF TECHNOLOGY LONAVALA(MAHARASHTRA), for allowing me to do this job

I also express my sincere thanks and gratitude to Mr. Ashish Saraparyia, Mr. Nirmal Solanki & Mr. Niraj Rawal for the constant help and encouragement during the course of the project. I express my profound sense of gratitude to my guide Mr. Hemant Anbhule & Mr. Sachin vankhade for their efforts, inspiring supervision and valuable guidance during the course of this project. Last but not the least, I express my special thanks to all those who were engaged with the research work indirectly or directly and for the assistance given to us throughout the course of the training period

Priyanshu Porwal Place:- Udaipur

DECLARATION I hearby declare that this project report entitled BRAND BUILDING AND BRAND AWARENESS AMONG THE PUBLIC is totally completed by Mr. Priyanshu Porwal To the university of pune is bone fide work undertaken by me and it is not submitted to any other university of any degree diploma certificate or published time before

Priyanshu porwal Place: Udaipur

EXECUTIVE SUMMARY Frr forex is a newely incorporated company by Mr Parag Mehta in the year 2010 its is started by the name FRR FOREX PVT. LTD . All over India 32 branches are there, out of which 9 are in WEST ZONE. (JAIPUR, UDAIPUR, AHMEDABAD). If we talk about the area covered in UDAIPUR branch are (hotels, corporate, travel agent, restricted money changers). the average yearly turnover of Udaipur branch is 20 CRORE. Now if we talk about the swot analysis of FRR FOREX PVT. LTD Strength: Experienced personnel., Large branch network , Goodwill in the market, Prominent location, good support among the team members

Weakness: Newly incorporated

Opportunity: Increasing market scope , Tour operators (inbound & outbound) , Globali

Threats: Increasing market scope , Tour operators (inbound & outbound) , Globalization.

Competitors analysis

THOMOS COOK COVERS ALMOST THE LARGEST MARKET SHARE AS IT IS ONE OF THE OLDEST COMPANY DEALING IN FOREX Then comes CENTRUM FOREX which has also come in Competition Then comes VKC Forex which has branches almost all over India. It has also good network in Udaipur. Then comes Pinky Forex, Frequent Forex which are a type of FFMC because of them also we suffered a huge loss in terms of sale because most of the sale in market is being taken by these FFMC.

CUSTOMER ANALYSIS

SERVICES

COMPETITI VE RATES

CUSTOMER SATISFACTION

COMMITME NT

VALUES

HOW WE CAN KNOW OUR CUSTOMER? 1. Know Your Competitor : Emphasize the strengths of your property, especially in areas where the competition is weak 2. Know Your Prospect Cold calls: fact-finding calls
3.

Tailor your presentation to the planners needs and desires

Assemble a Sales Kit Include all information the prospect will need about your property and services Build Rapport State your purpose

Give the main reason(s) the prospect should consider your property Bridge Statement

Ask for permission to continue with the presentation Purpose Involve the prospect to understand his or her needs Ask all questions before you give your presentation

Tailor your presentation according to what you learned about the prospect.

Industries which we can approach

BPO Plastic Software/IT Rubber Pharma Airlines FMCG Consultancy Textile

Gems & Jewellery Engineering Co Cement/ infrastructure Pharmaceuticals Insurance Companies Hotel industry Travel agent Banks

INTRODUCTION (A) OBJECTIVES Primary objective: Building Brand awareness of FRR forex Pvt. Ltd. Secondary objective To know position of FRR FOREX PVT LTD in the local market as well as the competitors position in the mind of the customers and prospective customers, to generate leads for the company as to help them in their future endeavours.

(B)

RESEARCH METHODOLGY

PRIMARY DATA For retail business COC Travel Agents

For wholesale business Banks Other money changers FRANCHISEE

COCs (companies) : Employees of companies keep travelling abroad for business purpose as well as personal purpose. These employees require foreign currency for their travel. So this can be the potential customers for the companies. Also such companies can give a long term business for the company.

): RMCs (Restricted money changers These are those organizations where foreign customers visit often (eg: well known hospitals, 5-star hotels. They are allowed to accept foreign currency from their customers but cannot remit this directly and need an authorized dealers (AD1/AD2) or FFMC for the purpose. Such organizations are allowed by RBI to get a franchise of any FFMC or AD1/AD2 for remitting the foreign currency. Banks: Banks are allowed by RBI for both sell/purchase of foreign currency. Usually banks are involved in bulk transactions of currency. Travel Agents:

Travel agents arrange foreign tours for tourism as well as corporate travel purpose. So they also need foreign currency for this purpose. They are also restricted money changers and need either authorized dealers (AD1/AD2) or FFMC to remit the foreign currency.

SECONDARY DATA Population: Zone description of entire west zone

Sample selected: Udaipur Areas covered under udaipur (Primary data has been collected from following areas)

Method of data collection:

o Primary data: Primary data was collected with the help by filling up questionnaire. We have prepared four different type of questionnaire that include questionnaire for banks ,RMCs, Travel agents and companies for conducting survey. This questionnaire was filled by visiting personally to clients. I have visited to both the existing as well as new/potential clients for collecting data.

o Secondary data: Secondary data was collected from companys site, internet and the employees of companies. The material provided by company was also used for extracting secondary data.

RESEARCH METHODOLOGY

 Type of research Descriptive Type of data Primary data and secondary data Data collection method Data is collected through structured questionnaire. Sampling Convenient sampling Sample size 95 Data analysis technique Quantitative Data analysis tool Pie charts.

HOW OUR RESEARCH CAN BE USED BY THE COMPANY

1. In providing the leads 2. In knowing the preferences of the customer

3. In knowing the factor which mostly influence the purchase decision of customer 4. In knowing the awareness of frr forex pvt ltd 5. Whether the companies are willing to start business with frr or not 6. In knowing whether the customers are satisfied with the services of frr or not?

COMPANY AND PRODUCT PROFILE

ABOUT COMPANY ( FRR FOREX PVT LTD)

F.R.Ratnagar & Co Pvt. Ltd. has a timehonored presence since 1983, in the territory of interbank currency broking and with nearly three decades of experience in this business, FRR Forex has gained tremendous goodwill to be one of the leaders in this closely knit market. Establishing firm relations with reputed banks has helped the company grow in the past few years. FRR Forex has a committed team of dealers to ensure the companys good standing in the interbank foreign exchange world. With its inter-bank broking expertise FRR FOREX now aims at enhancing its services by offering trading and hedging opportunities for individuals and corporates in the exchange traded Currency Derivatives market. FRR FOREX is a member of National Stock Exchange (NSEIL), MCXSX and United Stock Exchange (USE) for currency futures trading. Furthermore, more accessibility and simplicity of the exchange traded currency derivatives has fascinated corporate to hedge their exposures, preferring it over OTC currency market. This market is equally lucrative for traders as it provides narrow spreads, low margin requirements and high liquidity. The exchange traded currency derivatives market which started with volumes of only Rs. 500Cr is now witnessing huge volumes of over Rs 50000 Cr daily. Seeing a great potential in the Currency markets FRR Forex strongly believes in "More Money For Your Money

PRODUCT PROFILE RR Forex has wide range of Foreign Exchange Services Business Travel or Leisure: The first thing you need is foreign exchange. Also, the last thing you need to worry about. At FRR Forex we take care of all your foreign exchange requirements. Any currency, any time. Just call us and well have your exchange delivered to you. Starting with 20 branches with approved license from RBI, FRR Forex has plans to grow on countrywide basis in the near future. FRR Forex offers a host of services:

Major International Currencies Widely accepted travelers cheques like American Express

Market Leaders: Experienced team and well trained staff TYPES OF COMMODITITIES COMPANY DEALS IN: Travellers cheque Currencies Axis bank travelers card Rates Travelers Cheque An instrument which is similar to a bearer cheque. You need not convert the same to cash, but can use it across the counter at shops, hotels and other establishments Brands : We sell travelers cheques of American Express.

Currency : Your best choice for currency would be that of the destination country. Travelers Cheques are available in US Dollars, Sterling Pounds, Euros, Australian Dollars, Canadian Dollars, Japanese Yen and Chinese Yuan . If there are no travelers cheques in your destination currency, US Dollar travelers cheques would be the next best option. Like cash, you can save unused travelers cheques for future use within 180 days from the date of your return. Please treat your travelers cheques like you would treat your cash. Encashment : On your return, unused travelers cheques can be converted to cash at the prevailing rates. Incase of lost cheques, please be sure to contact the local issuing office and also the local police within 24 hours and obtain an FIR. Refund : If your travelers cheques are lost or stolen, the issuer company will refund their face value provided : Before Loss :

You have signed each cheque at the place marked "Signature of the Holder" in non erasable ink immediately upon receipt, but have not countersigned any of them. You have safeguarded each cheque against loss or theft as you would a similar amount of your own cash. You have not parted with the cheques voluntarily or as collateral security.

After Loss :

You notify the issuer company within 24 hours of the loss or theft of your cheques and the local police reporting the circumstances of the loss or theft in such details as may be reasonably required. You supply the Purchaser's receipt copy of the sales advice

(PAF), as well as acceptable proof of your identity, when making your refund claim. You complete the appropriate refund claim documents to reasonable satisfaction and sign them in good faith. You agree to co-operate in the investigation of the loss or theft, and in any resulting prosecution. However the issuer reserves the right to delay refunds during investigation of the loss or theft and will not be liable for any loss or expense caused by such delay. In addition, your cheques will not be refunded by the issuer if they have been seized or confiscated by the state government, customs, revenue, police, military or other such officials or personnel. The issuer shall not be obliged to stop payment of your travelers cheques for any reason whatsoever.

Currencies Be sure to carry a minimum amount in cash to safeguard yourself from loss by theft. When converting one currency to another, preferably do so in either one of the countries where the involved currency is a local. Avoid bringing back coins as they are not easily convertible. You may use them on future trips.

Axis Bank Travelers Card

Travel Across the Globe The Axis Bank Travel Currency Card is a prepaid foreign currency card, which is currently available in the denominations of US Dollars, Euro, Great Britain Pound, Australian Dollar, Canadian Dollar, Singapore Dollar, Swiss Francs, Swedish Kroner and Japanese Yen. The Card is available off the shelf at our branches and at Axis Bank. All you need to do is fill in a simple application form along with relevant documents and you can walk out with the card in your hand, loaded with the required amount of foreign currency. The minimum requirements on the 8 currency denominations are USD-250; EURO-200; GBP-150; AUD-300; CAD-300; SGD-350; CHF-300, SEK-1500 and JPY 30000. The maximum amount of foreign currency that can be loaded on to the card is as per the extant guidelines of the Reserve Bank of India. Convenience Guaranteed The Travel Currency Card lets you carry and use your money in the denomination you want. You can withdraw cash from an ATM or shop for very small amounts. You need not carry loose change anymore that you are left with when you encash your Traveler's Cheques. Also you have unlimited access to your money at any time - day or night. You don't have to waste precious time looking for moneychangers to encash your Traveler's Cheque. With the Travel Currency Card you can pay directly at all Visa enabled merchant outlets (shops, restaurants, hotels, grocery stores etc.) Security A secure 4 digit PIN helps to secure all your cash withdrawal transactions. If your card is lost or misplaced all you need to do is call on the 24-Hour Customer Service Number, your card will be immediately blocked to secure your money and a replacement card will be sent to you upon request. As a cardholder you can also access Visa's Global Customer Assistance Service (GCAS), which can be used to report a lost or stolen card, get emergency cash assistance or emergency card replacement and make inquiries (charges applicable). The Cards comes with a Comprehensive Travel Insurance to provide you the peace of mind when you travel abroad. The Insurance cover becomes available to you upon payment of the Card Issuance fee. Kindly ask the branch to provide you further details on the insurance cover available. You also get insurance coverage equivalent of upto Rs 2,00,000 for Loss of Card from the time you report the loss to us. Please note that it is mandatory to lodge a Police Complaint/FIR for making a claim in the event of loss and misuse of the

card. Unutilised balance Choose your option refill or refund or transfer to a dollar account. When you return from your trip, you can choose to 1. Get your balance on the card encashed 2. Transfer it to a Resident Foreign Currency D6omestic Account 3. Or simply let the balance on your Card (upto $2000 as per RBI Regulation) remain so that you can use it for any future trips. The date of expiry is indicated on the card. During this time you can use your card as many times as you wish. You can also refill it on your subsequent trips. All you need to do is fill in a reload coupon and attach the necessary documents. Your card will be reloaded with additional amount within 24 Hours. You can call the 24- hour helpline 91-22-67987700 if you have any queries or questions and to report a lost or stolen card. The Bank has also set up an email helpdesk (travel.currency@axisbank.com) dedicated to providing information services.

Western Union Money Transfer THE SAFE AND EASY WAY TO RECEIVE MONEY FROM YOUR LOVED ONES ABROAD Western Union is a global leader in money transfer and message services, with a history of pioneering service dating back more than 150 years. The Western Union-FRR Forex tie-up brings a new dimension to money remittance into India offering to the customer an unique blend of speed (the speciality of Western Union), convenience (with all-India FRR outlets), and SERVICE the efficient, courteous service for which FRR Forex is renowned. The simple steps to receive money

The sender deposits money with Western Union office abroad and provides the details of the recipient customer in India. A 10 digit Money transfer Control Number (MTCN) is generated by the system which is informed to the sender. The sender in turn informs the unique 10 digit number to the recipient customer in India. The recipient customer then approaches any of the all-India branches of FRR Forex with his personal photo-Identification document and provides details of the sender along with the MTCN number on a Receive Form. FRR verifies and matches the particulars provided on the Receive Form with that available on the Western Union computer system. Once the genuineness of the transaction and the receiver has been verified, the amount is paid to the receiver

FOREX READY RECKONER Understanding your forex entitlements as per RBI guidelines Business & Holiday Trips What is the Forex entitlement for a business trip? You can avail foreign exchange up to US$25,000 from FRR Forex or any authorized dealer, for a business trip to any country other than Nepal and Bhutan. Prior permission from Reserve Bank is required for release of foreign exchange exceeding US$25,000 for a travel abroad (other than Nepal and Bhutan) for business purposes, irrespective of period of stay. Visits in connection with attending of an international conference, seminar, specialised training, study tour, apprentice training, etc., are treated as business visits. What is the Forex entitlement for a holiday trip? In connection with holiday trips abroad, foreign exchange up to US$10,000, in any one financial year may be obtained from FRR Forex or any authorised dealer. The entitlement of US$10,000 is applicable in aggregate and foreign exchange may be obtained for one or more than one visits provided the prescribed ceiling of US$10,000 is not exceeded in one financial year. This US$10,000 (BTQ) can be availed of by a person along with foreign exchange for travel abroad for any purpose, including for

employment or immigration or studies. However, no foreign exchange is available for visit to Nepal and/or Bhutan for any purpose. From where can one buy foreign exchange for business and holiday trip? From any branch or franchisee of FRR Forex all over India or any authorised dealer. How much Foreign Exchange can be purchased in foreign currency notes? Travllers are allowed to purchase foreign currency notes / coins only up to US$3000. Balance amount can be taken in the form of travelers cheques or Prepaid Forex Card (maximum value US$10,000). Exceptions to this are (a) travelers proceeding to Iraq and Libya can draw foreign exchange in the form of foreign currency notes and coins not exceeding US$5000 or its equivalent. (b) travelers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States can draw entire foreign exchange released in form of foreign currency notes or coins. How much in advance can one buy foreign exchange? Foreign exchange must be utilised within 60 days of purchase. In case it is not utilised within this period, it should be surrendered to FRR Forex or any other authorised dealers. How can one pay for the foreign exchange? For business travel, foreign exchange can be availed against the company cheques. For BTQ, settlement can be need entirely by cash upto a maximum of Rs.50,000/- or by cheque/ Demand draft. Part payment by cash / cheque / demand draft is not permitted. What can one do with unutilized foreign exchange after the trip? Foreign Exchange upto US$2000/- in the form of foreign currency notes or travelers cheuqes can be indefinitely retained. In excess of this sum, foreign cash to be surrendered within 90 days and T/C to be surrendered within 180 days of return. Any amount in excess of US$2000 can also be credited to RFC (D) Account. Can one bring foreign exchange into India? Foreign exchange in cash upto US$5000 and or cash plus travelers cheques upto a value of US$10,000 can be brought into India. Cash and travelers cheuqes exceeding the above limits should be declared to custom at the airport in the Currency Declaration Form (CDF) on arrival in India.

Is there any purpose for which going abroad requires prior approval from the Reserve Bank or Govt. of India? Dance troupes, artistes, etc., who wish to undertake cultural tours abroad, should obtain prior approval from the Ministry of Human Resources Development, Government of India, New Delhi. Can a Resident Indian maintain foreign currency accounts in India? A resident Indian can maintain a Foreign Currency (Domestic) Account and deposit Foreign Exchange acquired from any of the sources approved by Reserve Bank of India, e.g. unspent BTQ, honorarium or gift / payment for services while on a visit outside India or received from a person not resident in India or who is on visit to India in settlement of a lawful obligation etc. Travel related to medical treatment, studies, immigration etc (Forex requirement will be serviced by any authorised dealers) Can residents obtain foreign exchange for medical treatment outside India? For medical treatment abroad exchange can be released up to the estimated amount by the doctor in India or hospital/ doctor abroad. If the amount is US$1,00,000 or less the same can be released without estimate from doctor / hospital. Reserve Bank approval is required to release exchange exceeding the estimate from the doctor in India or doctor/hospital abroad. Additionally, US$25,000 can be taken for travel of the maintenance expenses of the patient or accompanying attendant for the patient going abroad for medical treatment/check up. How much foreign exchange is available for studies outside India? Release of foreign exchange for studies abroad up to the estimate given by an institution abroad or up to US$ 1,00,000 per academic year. How much foreign exchange is available to a person going abroad on employment ? A person going abroad for employment can draw foreign exchange up to US$1,00,000 from any authorised dealer in India. And to a person going abroad on immigration? A person going abroad for immigration can draw foreign exchange up to US$1,00,000 or the amount prescribed by the country of emigration from an authorized dealer in India. This amount is only to meet the incidental expenses in the country of migration. No amount of foreign exchange can be remitted outside India to become eligible or for

earning points or credits for immigration. All such remittances require prior permission of the Reserve Bank. How much foreign exchange can one send as gift / donation to a person resident outside India ? Any person resident in India can remit up to US$5,000 in any one year as a gift to a person residing outside India or as donation to a charitable / educational / religious / cultural organisation outside India. Remittances exceeding the limit require prior permission from the RBI.

Money exchange are of two types Restriced money exchange Full flash money exchange Restricted money exchange basically deals only with taking of currency notes but not selling them. It is only a one side game where the company can only purchase the currencies

Full Flash moey exchange means that the company can sell and purchase the currencies The company FRR FOREX deals in Full flash money exchange. Here the company creates it own rates. The rate of the company is different as per different customers or clients. The basic rate is being decided by the companies head office and later on inc or dec in rates is depend on the branch of that company. The company basically deals in 26 currencies The average turnover of the company is 15 lakh rs. During the season time it can go up above 15 lakh rs. The main currency in which this branch deals is basically us$, euro, yen FRR Forex Company doesnt accept coins. It only accepts currency notes. Main clients of the company: Hotels Banks, Tours and travels agent, Various companies managers. who go abroad for doing their business. Other small exchange shops who purchase exchange from the customers The company also purchase the currencies in bulk

FRR FOREX - PRODUCTS FRR Forex currently offers currency futures trading on all the three exchanges i.e NSE, MCX-SX and USE. Currency futures trading takes place in 4 currency pairs - USD-INR, EUR-INR, GBP-INR and JPY-INR. The exchanges are also expected to launch options trading in USD-INR soon.

SUPPORT SERVICES Risk management and Back office support We render our clients with reliable risk management support for establishing strong business associations with their clients. We also provide our clients with unperturbed back- office and information support system to develop flawless client relationships. Online Trading / Online backofiice We offer online trading facilities to our clients on all the three exchanges i.e NSE, MCX-SX and USE Clients can also view their contract notes, ledgers, Margin etc through our online backoffice service. SMS Updates

FRR FOREX provides sms services with relevant market information to enable its clients to take prompt market decisions. What does this service offer? Market update on spot and futures market e.g. opening, closing levels, open interest, volumes etc Major economic data related to Indian and we market e.g. GDP, industrial production, employment, consumer sentiments, etc.

Online chat "Bringing markets to your desktop" Our dedicated teams of research analysts remain available over online chat to provide interactive market support to franchisees. Clients are made part of exclusive chat groups created for common communication of market information. Tele conference calls Our research analysts remain available to all clients for market updates and clarifications on the market reports through teleconference.

INTRODUCING FRANCHISEES We assist to set up franchisee channel for nurturing the relationships they need to serve their clients. We equip them with authenticated electronic trading platforms and efficient risk management structures to server their clients in a better way. Our

business agreements provide franchisees with a customized account server as per their specific requirements. Market Access Support: We deliver our franchisees with high speed access to markets for fast & efficient execution of their clients deals. Research Support: We provide franchisees with quality research and analysis reports to help streamline their clients trading process. Administrative Support: We support franchises with appropriate risk management and back office systems to develop their business. Operational Support: We render our franchisees with training, advertising and business development resources to enhance their client base. Products offered by FRR Forex: 1. Currency : It is the physical currency that one carries while travelling abroad.

2. Travelers cheque: A traveler's cheque is a preprinted, fixed-amount cheque designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilege. Usage: As traveler's cheques can usually be replaced if lost or stolen (if the owner still has the receipt issued with the purchase of the cheques showing the

serial numbers allocated), they are often used by people on vacation in place of cash. Traveler's cheques are available in several currencies such as U.S. dollars, Canadian dollars, Pounds sterling, Japanese yen, Chinese Yuan and Euro; denominations usually being 20, 50, or 100 (x100 for Yen) of whatever currency, and are usually sold in pads of five or ten cheques, e.g., 5 x 20 for 100. Traveler's cheques do not expire, so unused cheques can be kept by the purchaser to spend at any time in the future. The purchaser of a supply of traveler's cheques effectively gives an interest-free loan to the issuer, which is why it is common for banks to sell them "commission free" to their customers. The commission, where it is charged, is usually 1-2% of the total face value sold.

3. Prepaid cards Prepaid cards are used for making payments while you are travelling abroad. These are pre-loaded and enable you to access money in the required regional currency. You can also top it up depending on your requirement. The card allows you to withdraw cash in foreign currency, check your balance and shop. Banks such as ICICI Bank, HDFC Bank, State Bank of India, Standard Chartered and Axis Bank offer prepaid forex cards. Usage: Debit and credit cards involve a service charge of three per cent for each usage. Withdrawals at ATMs would attract an extra flat fee of Rs 300. You

would be billed at the exchange rate prevailing on the date of transaction and charged a currency conversion rate accordingly. Besides, any delay in bill payments will attract a penalty of 2.95 per cent a month. Travellers cheques are accepted at limited outlets and customers are charged an encashment fee of three-six per cent. Comparatively, forex cards are cost-effective, since the exchange rates get locked in on the day of transaction. You can avoid currency conversions, as the cards are available in major currencies. Withdrawing cash at ATMs abroad will attract a flat fee ($2/ euro 2/ 1).

4. TT telly-transfer: Telegraphic Transfer or Telex Transfer , often abbreviated to TT, is an electronic means of transferring funds overseas. A transfer charge is collected while sending money. Telegraphic Transfer or Telex Transfer , often abbreviated to TT, is an electronic means of transferring funds overseas. A transfer charge is collected while sending money.

5. DD -6. Travel insurance we have tie up with oriental bank for insurance.

Limits: For BTQ For private visits abroad, other than to Nepal and Bhutan, viz., for tourism purposes, etc., any resident (Indian) can obtain foreign exchange up to an aggregate amount of USD 10,000, from an Authorized Dealer, in any one financial year, on self-declaration basis, irrespective of the number of visits undertaken during the year. This limit of USD 10,000 or its equivalent per financial year for private visits can also be availed of by a person who is availing of foreign exchange for travel abroad for any purposes, such as, for employment or immigration or studies. A resident Indian is allowed to take INR of denomination of Rs.100 or lesser denomination to Nepal and Bhutan without limit.

For BT: For business trips abroad to countries, other than to Nepal and Bhutan, a person can avail of foreign exchange up to USD 25,000 per visit. Visits in connection with attending of an international conference, seminar, specialised training, study tour, apprentice training, etc., are treated as business visits. Release of foreign exchange exceeding USD 25,000 for business travel abroad (other than to Nepal and Bhutan), irrespective of the period of stay, requires prior permission from the Reserve Bank.

Break up of currency: Travellers going to all countries other than (a) and ( b) below are allowed to purchase foreign currency notes / coins only up to USD 3000. Balance amount can be carried in the form of travellers cheque or bankers draft. Exceptions to this are (a) travellers proceeding to Iraq and Libya who can draw foreign exchange in the form of foreign currency notes and coins not exceeding USD 5000 or its equivalent; (b) travellers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States who can draw entire foreign exchange in the form of foreign currency notes or coins. Foreign Exchange that can be drawn for medical purpose: AD Category I banks and AD Category II, may release foreign exchange up to USD 100,000 or its equivalent to resident Indians for medical treatment abroad on self declaration basis, without insisting on any estimate from a hospital/doctor in India/abroad. A person visiting abroad for medical treatment can obtain foreign exchange exceeding the above limit, provided the request is supported by an estimate from a hospital/doctor in India/abroad. An amount up to USD 25,000 is allowed for maintenance expensesof a patient going abroad for medical treatment or check-up abroad, or to a person foraccompanying as attendant to a patient going abroad for medical treatment/check-up. The amount of USD 25,000 allowed to the patient going abroad is in addition to the limit of USD 100,000 mentioned above.

Facilities for students studying abroad: For studies abroad the estimate received from the institution abroad or USD 100,000, per academic year, whichever is higher, may be availed of from an AD Category I bank and AD Category II. Students going abroad for studies are treated as Non-Resident Indians (NRIs) and are eligible for all the facilities available to NRIs under FEMA, 1999. Educational and other loans availed of by students as residents in India can be allowed to continue. A student holding NRO account may withdraw and repatriate up to USD 1 million per financial year from his NRO account. The student may avail of an amount of USD 10,000 or its equivalent for incidental expenses out of which USD 3000 or its equivalent may be carried in the form of foreign currency while going for study abroad. Foreign Exchange that can be procured by a person going abroad on employment: A person going abroad for employment can draw foreign exchange up to USD 100,000 from any Authorized Dealer in India on the basis of self-declaration. Foreign Exchange available for person going abroad for emigration: A person going abroad on emigration can draw foreign exchange from AD Category I bank and AD Category II up to the amount prescribed by the country of emigration or USD 100,000. He can draw foreign exchange up to USD 100,000 on self- declaration basis from an Authorized Dealer in India This amount is only to meet the incidental expenses in the country of emigration. No amount of foreign exchange can be remitted outside India to become eligible or for earning points or credits for immigration. All such remittances require prior permission of the

Reserve Bank. If requirement exceeds USD 100,000, the person requires to obtain the prior approval from the Reserve Bank. Category of visits which requires prior approval from the Reserve Bank or the Government of India Dance troupes, artistes, etc., who wish to undertake cultural tours abroad, should obtain prior approval from the Ministry of Human Resources Development (Department of Education and Culture), Government of India, New Delhi. Number of days in advance one can buy foreign exchange for travel abroad: Ans. Permissible foreign exchange can be drawn 60 days in advance. In case it is not possible to use the foreign exchange within the period of 60 days, it should be immediately surrendered to an authorized person. However, residents are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts. Surrender of Foreign Exchange: Foreign exchange for travel abroad can be purchased from an

authorized person against rupee payment in cash only up to Rs.50,000/-. However, if the Rupee equivalent exceeds Rs.50,000/-, the entire payment should be made by way of a crossed cheque/ bankers cheque/ pay order/ demand draft/ debit card / credit card / prepaid card only. Time frame to return Foreign Exchange:

On return from a foreign trip, travellers are required to surrender unspent foreign exchange held in the form of currency notes and travellers cheques within 180 days of return. However, they are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency (Domestic) [RFC (Domestic)] Accounts. The residents can hold foreign coins without any limit. Foreign Exchange that a resident individual can send as gift / donation to a person resident outside India: Any resident individual, if he so desires, may remit the entire limit of USD 200,000 in one financial year under LRS as gift to a person residing outside India or as donation to a charitable/educational/ religious/cultural organization outside India. Remittances exceeding the limit of USD 200,000 will require prior permission from the Reserve Bank. Amount of Foreign currency that a person can carry while going abroad: Residents are free to take outside India (other than to Nepal and Bhutan) currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs. 7,500/ - per person. They may take or send outside India (other than to Nepal and Bhutan) commemorative coins not exceeding two coins each. Amount of Indian currency that can be brought in while coming from abroad: A resident of India, who has gone out of India on a temporary visit may bring into India at the time of his return from any place outside India (other than Nepal and Bhutan), currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs.7,500.

A person can take or send out of India to Nepal or Bhutan, currency notes of Government of India and Reserve Bank notes, in denominations not exceeding Rs.100. Amount of Foreign Exchange that can be brought in India while visiting abroad: A person coming into India from abroad can bring with him foreign exchange without any limit. However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes or travellers cheques brought in exceeds USD 10,000 or its equivalent and/or the value of foreign currency alone exceeds USD 5,000 or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India. Explanation : 'Commemorative Coin' includes coin issued by Government of India Mint to commemorate any specific occasion or event and expressed in Indian currency. Law for exporting gift parcel outside India: A person resident in India is free to send (export) any gift article of value not exceeding Rs.5,00,000 provided export of that item is not prohibited under the extant Foreign Trade Policy and the exporter submits a declaration that goods of gift are not more than Rs.5,00,000 in value. Export of goods or services up to Rs.5,00,000 may be made without furnishing the declaration in Form GR/ SDF/ PP/ SOFTEX, as the case may be.

SECONDARY RESEARCH DATA , INDUSTRY DATA

COMPANIES VISITED

TEXMO INDUSTRIES PVT. LTD. ARIHANT TRADERS PVT.LTD. UNNATI PUMPS SHREE BANARSI MARBLE STONE(P) LTD KAN SOFTWARE

MUMAL MARBLES PVT. LTD. JAIN GRANI MARMO(P) LTD SARLA EXPORTS PVVT. LTD.

ICICI BANK LIMITED STATE BANK OF INDIA MANGAL KESHAV SECURITIES FUSION OUTSOURCING PVT. LTD LIMITED ANDHRA BANK ANAND RATHI SCURITIES LTD THE BANK OF RAJASTHAN LTD. AXIS BANK STATE BANK OF BIKANER AND JAIPUR PUNJAB NATIONAL BANK ARIHANT BEARING SERVICES CHOKSI CONTACTS PVT. LIMITED PVT.LTD ADVAIYA SOLUTION PVT.LTD WESTERN DRUGS LIMITED QUALITY MARBLES CHROMAS STONES PVT. LTD. EXPORTS(INDIA) SHUBH SANGEMERMERPVT.LTD BSES (INDIA)PVT.LTD. MATERIALISED WOLKEM INDIA LIMITED HAVELI MARBLE PVT.LTD PYROTECH ELECTRONIC PVT.LTD UNIT 1 THE S.K. TRAVELS VIJAYA BANK NEW SUER TRAVELS

A.S.D.C PVT. LTD ROSHAN LAL JAIN & CO. PYROTECH ELECTRONIC PVT.LTD UNIT2 PI INDUSTRIES PVT. LTD. (WENT THERE WITH NIRMAL SOLANKI) SUPER SHINE MARBLE PVT.LTD DEEJAY NEELUM MARBLE IND. PVT. LTD JAI INTERNATIONAL m/S SUKHER MARBLE (P) LTD MAHADEV MARMO PVT. LTD HOTEL GOLD LEAF HOTEL KRISHNALILA REGENCY SANDOUK THE HOUSE OF FASHION KUNAL ENTERPRISES PVT. LTD. ( HOUSE OF QUALITY MARBLES) SQUARE A COMPLETE ART GALLERY HOTEL GANGAUR PALACE NATURAL HANDI CRAFT PVT. LTD NATURAL ART & CRAFTS ULTRATECH BUILDING SOLUTION JAIN MARMO INDUSTRIES LTD RUKMANI ARTS ARUNODAYA ARTS & CRAFTS AAKAARS STONE CARVING & HANDICRAFTS BHARDWAJ NOORTI & HANDI CRAFTS PVT. LTD KUSHALBAGH MARBLES PVT.LTD CANARA BANK UCO BANK ADD IN THE CLIENT LIST

BCS HOLIDAYS KAY TRAVEL AND TOURS SILVER STONE INQUIRY CAME THE LALIT LAXMI VILAS PALACE LAXMI VILAS PALACE HOTEL MAHENDRA PRAKASH INQUIRY CAME HOTEL VISHNUPRIYA MATERIALISED HILL TOP HOTEL SWAROOP VILAS HOTEL PADMINI PALACE TATA MOTORS SILVER ART PALACE HERITAGE RENAISSANCE SILICON COMPUTECH SHRI SANWLIYA SALES CORPORATION ESCORTS TERRITORY SERVICE MANAGER JAYA CREDIT CO-OPRATIVE SOCIETY LTD. RAJASTHAN MUSEUM UDAIPUR CRAFTS EXPORTS PVT. LTD COTTAGE CRAFT EMPORIUM HOTEL EMPIRE PALACES ALI BABA ARTS MAHARANI EMPORIUM HDFC UNION BANK OF INDIA SHYAM TOURS N TRAVELS BBS GEM & JEWELLERY KOTAK MAHINDRA

ANGEL BROKING SERVICE

HOLIDAY JUNCTION AMET HAVELI BALDEV TOURS & TRAVELS GANESHAM ART AND CRAFT PANORAMA GUEST HOUSE AND ROOF TOP RESTAURANT SAROWAR HOTEL WONDER VIEW PALACE RAJ HAVELI GUEST HOUSE FALCON FASTER THAN FASTEST HOTEL HANUMAN GHAT UDAI KOTI SCOM TECHNOLOGIES GOKUL PROPERTIES STOCK HOLDING CORPORATION OF INDIA LIMITED ARVIND SINGH MARUTI SUZUKI HUNDAI MOTORS ANALYSIS OF QUESTIONNAIRE AND INTERPRETATION

INDUSLAND BANK RAJASTHAN SHILPI KALA UDYOG BANK OF BARODA

Questionnaire for coc 1.Do the executives of company undertake foreign travel for business purpose? ( only from 50 fill questionnaire)

INTERPRETATION: from the collected information we came to know that 99% of the respondents go for foreign travel

2.How many trips in a year are made? 1 to 2 time:- 4% of companies 2 to 3 time:- 8.5% of companie 3 to 4 time:- nil 4to 5 time:- 8% of companies 5 to 6 time:- nil 6 to 7:- nil 7 to 8 time:- 2% of companies 10 to 20 time:- 8% of companies

INTERPRETATION: this data has been taken from 50 form which were filled by companies out of these 50 forms 8.5% of the total i.e 17 companies go to Foreign. Then comes companies which go 10 to 20 times in a year that is of huge number. They require a good amount of currency in a year.

3.Likely destination of travel?

INTERPRETATION : the data shows from the collected sample that in comparison to others countries there is a lot of travel to USA and EUROPE. This means that there is lot of sales in terms of euro and usdollar

4.Preferred mode of exchange?

INTERPRETATION : most of the people prefer currency note because of convenience and also because of lack of knowledge about other products

5. Exchanged procured from? 9.5% of the companies say that they will take currency from the company for going abroad. 2% of people take travel cheque only and no currency and prepaid card 2% of people say that they will take all the three currency, tc, ppc 6% of people take currency and tc 8% of people say they will take currency and prepaid card

INTERPRETATION:- from above data we can see that 9.5% of the people take only currency, 8% of people take currency and prepaid card. This means that major people take currency while they are going abroad. So you should take more stress on selling currency. Q6 Exchange procured fromBanks:- 12% OF COMPANIES TAKE FROM BANKS FFMC:- 42% of companies procure currency from FFMC

INTERPRETATION : from the above collected data we came to know that most of the customer prefer ffmc as though the banks offer beter rates sometimes but because of convenience customer prefer ffmc.

7.

Any overseas medical policies taken ? Yes:- 28% of the companies have taken medical policy No:- 30% of the companies have not taken their medical policy

INTERPRETATION : DURING THE RESEARCH WE FIND THAT MOST OF THE CUSTOMERS ALREADY HAVE THERE MEDICAL POLICIES ISSUED FROM THE TRAVEL AGENTS AS IT IS MANDATORY FOR VISA PURPOSE.

7.Which are the largest factors which influence the purchase decision of foreign currency?

INTERPRETATION : THE DATA SHOWS THAT NOT MUCH IMPORTANCE HAS BEEN GIVEN TO NETWORK. ONLY THE RATES AND SERVICES ARE IMPORTANT FOR THEM.

8. Have you availed the services of other money changers? Most of the companies have taken the service of other money changers also which is one of the negative point for s that shows that our competitors has good network because of which our competitors has a good name in the market.

9.Have you heard of frr forex pvt ltd?

Yes:- 26% of companies i.e 13 companies says that they have heared of FRR FOREX PVT.LTD. No:- 22% of companies i.e. 11 companies says that they have not heared of FRR FOREX

INTERPRETATION : DURING THE RESEARCH WE FOUND OUT THAT VERY LESS CUSTOMERS ARE FAMILIAR WITH FRR . THE REASON FOR THIS IS THAT FRR IS A NEWELY INCORPORATED COMPANY, HENCE NOT MUCH AWARENESS IS THERE

10.How did you first come to know about frr forex pvt ltd? Almost each and every company knows about FRR FOREX through sales people. This shows that our marketing team is working really very hard because of which many people came to know about our company.

INTERPRETATION : from the above data we can make out that sales people played a very important role in promoting frr.

11.How would you spontaneously describe the services of frr forex pvt ltd?

34%of people say that they have not yet taken the service of FRR FOREX 24% people say that they have taken thhe service of FRR FOREX

INTERPRETATION : from the research we found out that customers are very happy with the services of frr and very less of them are dissatisfied that too because of rates and late delivery there is a huge amount of companies who have not yet taken the service of frr forex

12.Would you be interested to discuss in detail with respect to your requirement s with FRR executives? Yes:- 8% of say that they want to discuss with our FRR executives No:- 50% of companies says that they dont want to discuss with our executives

INTERPRETATION: we can easily make out from the data that least of them are interested in frr, and very huge number of them are not interested to discuss in detail with our company because most of them are our clients and they have already talked with our executives. Does your current vendor provides you the following? 44% of the companies says that their vendor gives all the four services 2% says that they have not yet taken the service of other foreign exchange because they dont deal in foreign exchange market. 12% of the companies say that their vendors dont have all the facilities

QUESTIONNAIRE FOR BANKS

1.Does the bank ( branch ) encash currencies and travelers cheque?

INTERPRETATION: 5 banks says that yes they encash currency 4 banks says that no they dont encash their currency

2. WHAT IS THE VOLUME OF FORREX OFFLOADED ON A DAILY / WEEKLY BASIS

3. WHOM DOES THE BANK GENERALLY OFFLOAD THEIR F/Ex TO

Thomos cook

4. DOES THE BANK PROVIDE FOREX TO GENERAL PUBLIC?

8% of the bankers says that they dont provide currencies to general public 10% of the bankers say that they provide foreign exchange to general public 5. HAVE YOU HEARD OF FRR FOREX PVT LTD? 12% says that yes they have heard of FRR FOREX 6% say that they have not heared of FRR FOREX

6. How did you first come to know about frr forex pvt ltd? The data shows that many of them hav heared of FRR FOREX through sales people

INTERPRETATION : This shows that sales team is really very important in term of forex

7. How would you spontaneously describe the services provided by FRR FOREX PVT LTD? Most of the banks have not taken the service of FRR FOREX so they have not written in the form. Only 2 banks say that the service of FRR FOREX is good as compared to others

CONCLUSION

1. LACK OF PROVIDING ON TIME DELIVERY 2. LACK OF BRAND AWARENESS IN BTQ 3 . CUSTOMERS ARE NOT FAMILIAR ABOUT PREPAID CARD 4. RATES AND SERVICES BOTH GO HAND IN HAND 5. RETAIN EXISTING CUSTOMERS 6.BTQ GIVE MORE IMPORATANCE TO BANKS 7. CUSTOMER DO NOT STICK TO ONLY ONE MONEY CHANGER PROVIDED THAT THEY DO NOT HAVE A TIE UP WITH THEM.

RECOMMENDATION

1. INCREASE SALES TEAM 2. ON TIME DELIVERY SHOULD BE THERE

3.

MORE BRAND AWARENESS REQUIRED

FOR PRE[PAID CARD

4. MORE EMPHASIS SHOULD BE GIVEN TO EXISTING CUSTOMERS 5. SERVICES SHOULD GO HAND IN HAND WITH BEST RATE

6.

INCREASE BRAND AWARENESS IN BTQ

1. LACK OF PROVIDING ON TIME DELIVERY 2. LACK OF BRAND AWARENESS IN BTQ 3 . CUSTOMERS ARE NOT FAMILIAR ABOUT PREPAID CARD 4. RATES AND SERVICES BOTH GO HAND IN HAND 5. RETAIN EXISTING CUSTOMERS 6.BTQ GIVE MORE IMPORATANCE TO BANKS

7. CUSTOMER DO NOT STICK TO ONLY ONE MONEY CHANGER PROVIDED THAT THEY DO NOT HAVE A TIE UP WITH THEM.

RECOMMENDATION

1. INCREASE SALES TEAM 2. ON TIME DELIVERY SHOULD BE THERE 3. MORE BRAND AWARENESS REQUIRED FOR PRE[PAID CARD

4. MORE EMPHASIS SHOULD BE GIVEN TO EXISTING CUSTOMERS 5. SERVICES SHOULD GO HAND IN HAND WITH BEST RATE 6. INCREASE BRAND AWARENESS IN BTQ

BIBLIOGRAPHY PRIMARY DATA:GONE TO CLIENTS FOR COLLECTION OF DATA SECONDARY DATA:-

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