ST.

JOSEPH’S INSTITUTE OF MANAGEMENT (JIM )

A Jesuit Business School

St. Joseph’s College (Autonomous), Tiruchirappalli 620 002

SUMMER INTERNSHIP PLACEMENT (SIP) REPORT 2024

Submitted in partial fulfilment of the requirements for the award of MBA

23PBA118

M.Blesswin

SIP at NJ INDIA INVEST PRIVATE LIMITED

June 15,2024

Faculty Guide: Dr.S Manoharan

 ST. JOSEPH’S INSTITUTE OF MANAGEMENT (JIM)
A Jesuit Business School

St. Joseph’s College (Autonomous), Tiruchirappalli 620 002

CERTIFICATE

This is to certify that the Summer Internship Rev. Dr. P. Paulraj SJ

Placement (SIP) Report is an authentic record of Director

M. Blesswin
(23PBA118) Dr. Albin D Robert Lawrence

Dean-Academics

Carried out in

NJ India Invest Private Limited

in partial fulfilment of the requirements Prof. Dr. Nisha Thundiyil

for the award of MBA Faculty Guide
 DECLARATION

I hereby declare that the SIP Project report is based on my 8 weeks of Internship done in NJ
India Invest Private Limited Company, Coimbatore from 1 st April 2024 to 8 th June 2024
under the guidance of Mr. Sai Sathish K Assistant Manager, NJ India Invest Private Limited,
Coimbatore and Dr. Nisha Thundiyil, St. Joseph’s Institute of Management (JIM), St.

Joseph’s college (Autonomous), Tiruchirappalli.

Date :15/06/2024 Signature

 ACKNOWLEDGMENTS

First and foremost, I feel grateful to the Almighty God for his blessings and grace in helpingme
to complete my internship. I would like to express my sincere thanks to St. Joseph's Institute of
Management, for facilitating this and letting me to get more information through this internship.

I sincerely thank Rev. Dr P Paulraj SJ, Director, St. Joseph's Institute of Management, St.
Joseph's College (Autonomous), Tiruchirappalli, Rev. Fr. I. Antony Inico SJ, Administrator,
of St. Joseph's Institute of Management, St. Joseph's College (Autonomous), Tiruchirappalli
for providing this internship opportunity.

I am grateful to my faculty advisor, Dr.Nisha Thundiyil, Assistant Professor and Dean

Academics, St. Joseph's Institute of Management, for his valuable direction, persistent
support, and patience throughout this Internship, as well as for motivating meto complete
my internship.

I appreciate the support and encouragement from the faculty at St. Joseph's Institute of
Management.

I owe a debt of gratitude to my parents for making me who I am today and for motivating
and assisting me in completing my internship. I like to thank my family andfriends for their
help, suggestions, and encouragement in making my internship a success.

M.Blesswin

23PBA118
 Table Of Contents
CHAPTER - I ....................................................................................................................................................... 8
Introduction: ................................................................................................................................................. 8
1.1 GLOBAL FINANCIAL MARKET SCENARIO ................................................................................................. 8
1.2 INDIAN FINANCIAL MARKET SCENARIO ................................................................................................ 11
1.3 NJ India Invest: ...................................................................................................................................... 13
1.4 SWOT analysis:...................................................................................................................................... 14
Strength ...................................................................................................................................................... 14
1.5 Competitors .......................................................................................................................................... 15
1.6 Turnover/Revenue and earnings .......................................................................................................... 15
CHAPTER - II .................................................................................................................................................... 16
2.1 Work Plan ............................................................................................................................................. 16
2.2 Timeline of activities expected during the project period ................................................................... 17
2.3 Actual Timeline of activities .................................................................................................................. 23
2.3 Key activities in the job role ............................................................................................................ 23
2.3 Conversion of value and non-value pack .............................................................................................. 25
2.4 Accomplishment of objectives/tasks .................................................................................................... 26
CHAPTER - III ................................................................................................................................................... 27
3.1 Challenges Faced on the assigned task and its accomplishments........................................................ 27
3.2 Handy concepts that helped in the field............................................................................................... 29
3.3 Observations on the practices observed in the Organization vis-a-vis thepractices understood through
academic inputs in the courses ....................................................................................................... 32
CHAPTER - IV................................................................................................................................................... 34
4.1 Summary of Key Learnings ................................................................................................................... 34
4.2 Recommendations ................................................................................................................................ 34
4.3 Key Learnings ........................................................................................................................................ 35
4.4 References ............................................................................................................................................ 36
 EXECUTIVE SUMMARY

NJ India Invest Private Limited was founded by Mr. Neeraj Choksi L (MBA Graduate) and Mr. Jignesh
Desai. R (Engineering Graduate) in 1994. The full form of NJ is Neeraj Jignesh which was takenfrom the
founder's name. The company has been for the past 27 years. The tagline of the NJ group is “BUILT ON
TRUST”.

The group's goal is to be industry leaders in industries that are motivated by a desire for
continuing value creation for all stakeholders, a commitment to excellence, and customer satisfaction.
It is a distribution company which provides a financial platform. The model followed by the company is
B2 to B2 (Business to Business) model. The company’s major focus is on mutual funds. The products of
the company are mutual funds, Insurance (Health, Pension, General), Bonds (Taxable, Non -Taxable),
Loan Against Mutual funds (LAMF). It acts as a medium between the partners of NJ and their clients.

The company provides a desk for both the partner as well as the client which will show the
transactions in detail. NJ Wealth provides a comprehensive wealth management platform with a wide
range of financial and non-financial goods for the average person. Backed by high levels of excellence in
operational and service standards, NJ Wealth offers customers and its Partners with solutions that truly
make a difference. NJ Wealth's ongoing effort is to expand on the concepts that are significant & effective
in scaling company issues, capturing available possibilities, and fulfilling the interests of the customer.

NJ Wealth is driven by the strong vision of "Creating Wealth and Transforming Lives". Target
market is the people doing business based on financial products. The company which does business
related to financial products and which does the distribution process are the competitors of the NJ
Company.
 CHAPTER - I

Industry and Company Overview

Introduction:

I did my Summer Internship Program (SIP) in NJ India Invest Pvt. Ltd. (Mutual fund company).
Centralized Banks, Private Banks, Chit funds, cooperatives, mutual funds, insurance companies, stock
exchange brokerings, portfolio management, AMCs and other small financial organizations are
included in the financial service sector.

To become a mutual fund distributor, you should clear AMFI’s NISM V A exam then we
generate ARN code from their website (AMFI). Their main duty or purpose is to help their clients to
buy and sell mutual funds in India as well as outside India. The mutual fund distributor earing is
depending on their investor’s wealth as well as their investment thoughts in mutual funds. They also
give more knowledge about the investors various schemes of different mutual fund houses to their
investors. The mutual fund distributor needs to built a suitable investment plan for their investors
based on their financial goals. They need to educate the retail investor on how to achieve them.

1.1 GLOBAL FINANCIAL MARKET SCENARIO

The worldwide money related administrations showcase will develop from USD 25,848.74
billion in 2022 to USD 28,115.02 billion in 2023 at a compound yearly development rate (CAGR) of
8.8%. The war between Russia and Ukraine has harmed the plausibility of worldwide financial
recuperation from the COVID-19 widespread, at slightest within the brief term.

The war between the two nations driven to financial sanctions against a few nations,
expanded product costs and disturbance of supply chains, which caused swelling in products and
administrations and influenced numerous markets around the world. The budgetary administrations
advertise is anticipated to develop at a CAGR of 7.5% to reach $37,484.37 billion in 2027.

The worldwide installment industry is witnessing fast development within the selection of EMV
innovation.

This development is driven by the higher level of information security advertised by EMV
chips and Stick cards as compared to conventional attractive stripe cards. EMV may be a security
standard for different installment cards, counting charge, credit, charge, and paid ahead of time
cards. The chip carries information for the cardholder and the account, which is secured utilizing

both equipment and program security measures. Agreeing to the worldwide specialized body
EMVCo, the number of EMV chip installment cards over the world come to 10.8 billion in 2020.

In line with the rest of the world, the selection rate of EMV chip installment cards has
consistently developed over different locales within the world, coming to 71.7% in Canada, Latin
America, and the Caribbean region, 61.2% in Africa and the Center East region, and 32.7% within the
Asia-Pacific locale. Banks and money related teach are utilizing digitization to modernize their
commerce loaning. This move is basically due to expanded competition between banks and
expanded request for a less complex and quicker commerce credit prepare.

Digitization leads to more noteworthy client fulfillment when it comes to getting a commerce
credit, which can something else be a complex and moderate handle. In expansion, banks can target
modern client categories and offer customer-centric arrangements that lead to made strides trade
loaning productivity. Banks that have coordinates digitization into lending incorporate
Commonwealth Bank of Australia, Hana Bank and Fedor Bank. Numerous riches administration
companies are contributing in enormous information analytics capabilities to create experiences
almost clients.

Huge information arrangements are being executed to provide bits of knowledge around
client sections, preparing program viability. These innovations are being executed to evaluate
existing and planned clients’ slant to buy different items and administrations being advertised by a
rich administration company, their lifetime esteem, venture design, and the capacity of the client to
require dangers. They are also making a difference riches administration companies to track trade
execution, increment client securing and maintenance rates, increase deals, and offer real-time
speculation counsel.

For instance, Cargo Metrics, speculation firm based in Boston, utilized the Automatic
Identification Framework to gather information on product development such as cargo area and
 cargo estimate to create an analytics stage for exchanging commodities, monetary standards, and
value file reserves. This apparatus was too sold to other hedge funds and riches supervisors. Major
companies within the money related administrations advertise incorporate Allianz Bunch,
Mechanical and Commercial Bank of China, JPMorgan Chase and Co., Ping Protections, Axa Bunch,
Song of devotion, Inc., Agrarian Bank of China, China Life Protections, China Construction Bank, an

Centene. Western Europe was the biggest locale within the budgetary administrations advertise in2022.

North America was the second-largest locale within the money related administrations
showcase. The districts secured within the money related administrations advertise report are Asia-
Pacific, Western Europe, Eastern Europe, North America, South America, Center East, and Africa The
nations secured within the money related administrations advertise are Argentina, Australia, Austria,
Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France,
Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands,
Modern Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, SaudiArabia,
Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA,
Venezuela, and Vietnam.

The budgetary administrations advertise incorporates incomes earned by substances by

giving budgetary or cash related administrations such as loaning, venture administration,
protections, brokerages, installments, and support exchange administrations. The monetary
administrations industry is categorized on the premise of the business model of the firms display
within the industry, and most firms offer different administrations. Incomes incorporate expenses,
intrigued installments, commissions, or exchange charges. The showcase esteem incorporates the
esteem of related products sold by the service provider or included within the benefit advertising.
As it were products and administrations exchanged between substances or sold to end customers
are included. Advertise esteem is defined as the pay earned by businesses from the deal of
merchandise and/or administrations inside a given market and locale through deals, endowments
or gifts within the suitable cash (unless something else indicated).
 Pay for a certain zone is utilization esteem, which is the pay that's earned by organizations in
a certain area within the advertise, notwithstanding of where it is produced. This does not
incorporate revenue from resale within the supply chain, or assist down the supply chain, or a
portion of another product. The worldwide money related administrations showcase will grow from
USD 25,848.74 billion in 2022 to USD 28,115.02 billion in 2023 at a compound yearly development
rate (CAGR) of 8.8%. The war between Russia and Ukraine has harmed the plausibility of worldwide
financial recovery from the COVID-19 widespread, at least within the short term.

The war between the two nations driven to financial sanctions against a few nations,
expanded product costs and disturbance of supply chains, which caused swelling in merchandise and
administrations and influenced many markets around the world. The financial administrations
showcase is anticipated to develop at a CAGR of 7.5% to reach $37,484.37 billion in 2027. The global
payment industry is seeing quick development within the appropriation of EMV innovation. This
growth is driven by the higher level of information security advertised by EMV chips and Stick cards.

1.2 INDIAN FINANCIAL MARKET SCENARIO

As of 30 April, the mutual fund industry's assets under management (AUM) stand at Rs. 57.01 lakh crore,
marking a six-fold increase over the past 10 years. The number of folios exceeded 10 crore in May 2021
and has now reached 16.96 crore as of January 2024 (AMFI). The total number of accounts or folios in
the mutual fund industry stood at 18.15 crore as of April 2024, with about 14.54 crore folios falling under
equity, hybrid, and solution-oriented schemes, predominantly from the retail segment. Previously,
financial institutions like HDFC MF and ICICI Prudential MF offered only three primary funds. Now, they
offer nearly 50 diverse schemes across various categories such as equity funds, balanced funds, and
more, catering to the preferences of individual investors. The sector has experienced rapid expansion,
with an impressive annual growth rate of 40%. The prominent growth factor in the mutual fund industry
is the increasing acceptance of mutual funds, leading to a surge in individuals channeling their
investments into mutual funds to meet the growing demand, according to Kotak Securities India Ltd.
TOP PLAYERS IN INDUSTRY According to Grown These are the top 10 Asset management companies that
manage mutual funds along with their respective AUM:

S.No. AMC Assets Managed (as of 31-Mar- 2024)

1. SBI Mutual Fund ₹ 919,519.99 crore

2. ICICI Prudential Mutual Fund ₹ 716,867.52 crores

3. HDFC Mutual Fund ₹ 614,665.43 crores

4. Nippon India Mutual Fund ₹ 438,276.85 crores

5. Kotak Mahindra Mutual Fund ₹ 381,239.57 crores

6. Aditya Birla Sun Life Mutual Fund ₹ 315,777.58 crores

7. UTI Mutual Fund ₹ 286,593.27 crores

8. Axis Mutual Fund ₹ 266,826.23 crores

9. DSP Mutual Fund ₹ 138,986.33 crores

10. Bandhan Mutual Fund ₹ 134,908.07 crores

Due to the solid money and supporting segment, India is now one of the driving and dynamic
economies within the world. The protections segment reacted emphatically to the relaxation of long-
term theory rules, with numerous companies reporting their intention to extend their stakes in joint
wanders with Indian companies. Over the coming quarters, there might be a course of action of joint
wander bargains between around the world securities and adjacent players.
 The Connection of Shared Stores in India (AMFI) is centering on approximately five-fold
improvement in AUM to Rs. 95 lakh crore (US$ 1.47 trillion) and more than three times advancement
in budgetary pro accounts to 130 million by 2025. India’s Fintech space is expected to help fuel this
improvement completely different parcels. India's flexible wallet industry is evaluated to create at a
Compound Yearly Improvement Rate (CAGR) of 150% to reach US$ 4.4 billion by 2022, though
portable wallet trades will touch Rs. 32 trillion (USD$ 492.6 billion) in the midst of the same period.

Agreeing to Goldman Sachs, budgetary masters have been pouring cash into India’s stock
grandstand, which is likely to reach >US$ 5 trillion, beating the UK, and gotten to be the fifth-largest
stock publicize around the world by 2024.

1.3 NJ India Invest:

We did our summer internship program in NJ India Contribute Private Constrained. A
prevailing drive within the Indian money related administrations division, NJ Bunch is famous for its
strong conveyance capacities. NJ's enterprise started in 1994 with the establishing of its lead firm,
NJ India Contribute Private Constrained, which was made to meet the demands of financial
specialists within the budgetary administration division. The group's objective is to be industry
pioneers in businesses that are persuaded by a crave for proceeding esteem creation for all partners,
a commitment to excellence, and client satisfaction. Being ethically upright may be a quality that's
exceedingly pined for. Victory and disappointment are as often as possible decided by commonsense
application and diligence instead of information or expertise.

The NJ business model is B2B business model. The NJ Group's corporate headquarters are in
Gujarat's Surat (India). There are currently 165+ offices with more than 1,880+ employees across
India. It can be found in 19 states of India. It is situated throughout their nations throughout the
world. Its AUM is 1,33,518 crores and active distributors 31,383

The main competitor of the NJ invest is Motilal Oswal. The financial services provided by Motilal Oswal
include wealth management, brokerage and distribution, commodity broking, portfolio management,
institutional equities, private equity, and investment

banking. Motilal Oswal Company follows a B2C Business model. Nearly every region of India is
covered by Motilal Oswal franchisees and branches, from large cities to rural communities.

The operating revenue range for NJ India Invest Private Limited for the fiscal year ending on
March 31, 2021, is over INR 500 cr. Over the prior year, its EBITDA climbed by 82.87 percent. Its book
net worth has also grown by 42.61 percent over this time. The business offers investment and
financial services. Mutual Funds, Real Estate, Insurance, PMS, Technology, Direct Equity, and
Charitable Trust are among the company's goods and services.

1.4 SWOT analysis:

Strength Weakness

• An application for checking the status

of mutual funds that have been • The competitors pay the same
invested. commission to their distributors

• The business has its Technology firm. • There are more distributors with the
same application through the
• Regular meetings between platform
separate branches and their
distributors provide constant • Mutual fund awareness is
support. low in the southern region
of India, thus more effort is
• To raise mutual fund awareness needed to attract
in B30 cities, distributors are distributors
paid an additional 1.5 percent
commission.

Opportunities Threats

• NJ competitors do not provide • There are already 20 distributor

additional commission to B30 cities.
• NJ is now an AMC and can
offer a variety of NFOs (New
Fund Offers) to entice new
clients.
businesses, with more likely to
emerge as the Indian market
develops.
• Many banks have begun to sell
mutual funds without charging
commissions. This isIncrease in
the fee of AMFI certification
1.5 Competitors

Some of the competitors of the NJ Investment are

• Motilal Oswald Financial Services

• Edelweiss Financial Services Ltd

• Alchemy Capital Management Pvt Ltd

• Sharekhan Ltd

• Anand Rathi Securities

• Karvy Private Wealth

• Religare Finevest Limited

• Aditya Birla Minacs.

1.6 Turnover/Revenue and earnings

As of now, we have nearly 31,000 active NJ Wealth Partners across India with whom we share our
success and have an AUM of close to Rs. 1.33 lakh crore as on Jan31, 2023. ARN registrations have
picked up after two consecutive years of decline due to the ban on upfront commissions and Covid-
19.
 CHAPTER - II

Job/Task description

2.1 Work Plan

The work plan that was given by the company is to create e-wealth accounts and leads
generation for insurance agents and mutual funds agents through tele-calling and field visit.
Usually, a mutual distributor must carry an AMFI number so that they become a mutual fund
seller like insurance products. An insurance agent who does not hold an AMFI number is called
a value pack and those who do have the number are called non-value packs (already existing
mutual fund distributors). A database with both value and non-value packs is allotted for us
and initial segregation of the data was made to approach them. We also approach them
through visiting insurance agents in their financial institutes like LIC, HDFC mutual funds and
so on. By visiting the financial institutes and meeting the agents in person, we should convince
them to join NJ as a partner.

Along with this, e-wealth has also been planned to be created to establish awareness
of the mutual funds and also to encourage their trading. Through this, the wealth of the clients
under the assistance and support of the distributors would be maximized which is the ultimate
goal of the NJ investments. If the value pack people are interested in taking up the AMFI exam,
an in-person or google meeting could be arranged so that the fore-becoming distributors
would have a clear idea of the process and a fruitful relationship could be established with the
company to make it an everlasting relationship.

In the Depository System, the ownership and transfer of Securities take place through
electronic book entries. Demat account holders can buy and hold Shares, NCDs or other debt
securities. They can access the account just like a bank account with the following advantages
and safety features: No Stamp duty on transfer of securities, Immediate and fast transfer of
securities, Elimination of 'Bad Deliveries, Elimination of risk by loss, theft, mutilation etc,
Faster settlement and disbursement of Corporate benefits like Bonus, Rights, Dividends etc,
Elimination of mismatch in Bank Accounts and Address. So, the overall work plan includes the
e-wealth account creation and grabbing value and non-value packs as NJ mutual distributors.
 2.2 Timeline of activities expected during the project period

During the SIP, the office would start by 10:00 AM and would go up to 5:00 PM. With a lunch
break between 2:00 PM to 3:00 PM. It was assigned to create e-wealth mf account and to
generate leads for the non-value and value packs through field visit.

Initially, a target of 25 e-wealth account creation was given. By the end of May, the given target
must be achieved. In the upcoming months, we were instructed to complete multiple tasks like
field visit, video training for POSP, new NJ partner registration.

Every day atleast of 10 to 15 leads must be generated in which atleast 2 leads must beready to join NJ
as partner. Field visits would be assigned on random days. If there is any incoming new partner, the
new partner registration work would be assigned. After the registration process, there would be
video training task for POSP. I was assigned to generate insurance quotation, if any partner requests
for insurance quotation generation.

DATES WORK PERFORMED PERSONAL OBSERVATION/LEARNINGS

01-04-2024 Documentary about Nj History of Nj Groups

Groups
02-04-2024 Discussion on the Core functions of the Nj Groups
Documentary
03-04-2024 Branch Manager Small lecture Stock Market and its functions and Power
on the Stock market of compounding

04-04-2024 Lecture on the Debt Debt market and its functions

market
05-04-2024 Class on Mutual funds Mutual funds and its
characteristic
06-04-2024 NISM training (kotak All about NISM exam and preparation and
mutual fund AMC) scope about business

08-04-2024 Branch talk on mutual funds Types and advantages of mutual funds
09-04-2024 Negotiation with Unit Commissions
Managers
10-04-2024 Small lecture by Branch Asset Management Company (AMC) and
Manager Asset Under Management (AUM)

11-04-2024 Lecture on portfolio Basic understanding about portfolio

12-04-2024 Business Opportunity plan Financial Products and functions of the Nj

(BOP) for new interested Wealth
client
15-04-2024 Tele-calling to generate the Customer perceptions and behaviour
new client
16-04-2024 ARN holder call to Mutual fund Customer relationship and
licenced persons negotiation skill
17-04-2024 E- Wealth account open and E- Wealth opening process and learned
Nj partners meet Mutual fund Partner dashboard works and
the partner meet held in evening 6pm till
9pm Enhanced our knowledge

18-04-2024 Tele- calling for new lead Started to do tele-calling and generated new
generation and Nj Wealth Nj wealth account’s
account

22-04-2024 E- Wealth account open Learnd how entry process is done and how
to verify the give documents

23-04-2024 Discussion on current market It gave an idea about how markets play a
trend with unit manager major role in the funds and unit allocation

24-04-2024 Client portfolio analysis The unit manager gave us a raw data of four
clients about their investment and the work
given was to find their total SIP’s and
Lumpsum the have made and their fund
type and it gave a
better idea on how to
 recommend the funds based on there
portfolio.

25-04-2024 E-Wealth account open The method of enrolment has been changed

26-04-2024 Fund manager meet (Invesco He spoke about various funds that the AMC
mutual fund’s) proved and ways to invest in their funds and
Mr Amritpal sidhu (fund current market trend and he spoke about
how share markets is going on in India
manager )

27-04-2024 Client meet (Mr guru) The speaker gave a lot of information about
mutual fund and he break various myths
about mutual funds and markets

29-04-2024 Tele calling The unit manger gave some inputs to

change while speaking

30-04-2024 Tele calling Able to understand the mindset of the

opposite person while tele calling and it gave
an input to analysis a particular person

02-05-2024 E-Wealth account and Learned to rectify the KYC issues

Tele calling

06-05-2024 CRM works KYC issues and change of basic information

in client and learned how handle the
problems revert to concern person

07-05-2024 E-Wealth account and New pan site regulation as put to force so we
Tele calling need to enter the client name based on the
income tax site

08-05-2024 E-Wealth account and Done 70 calls and entered 4 E- wealth

Tele calling account
09-05-2024 E-Wealth account and Done 70 calls and entered 6 E- wealth
Tele calling account

10-05-2024 Partners meet We had our second partner meet where this
time we had different type of meet a HR
from HDFC AMC where she gave the
concepts In an game manner which was
engaging

13-05-2024 E-Wealth account and Done 50 calls and done 6 E – wealth

Tele calling account

14-05-2024 E-Wealth account and Done yesterdays remaining call and done 4
Tele calling E- wealth

15-05-2024 E-Wealth account and Done 70 calls and done 4 accounts

Tele calling

16-05-2024 NFO promotion meet Whitoak special opportunities fund new

fund on contra and this fund work on
investing on tuff marketing times speaker
Mr prasad (zonal head whiteoak AMC)

17-05-2024 E-Wealth account and Learned to rectify the KYC issues

Tele calling

18-05-2024 E-Wealth account and Learned about mandate process and KYC
Tele calling norms

20-05-2024 NFO promotion meet SBI automotive opportunities fund this fund
focus all the automotive market and product
in market speaker Mr mahizharasu
(assistant vice president ) SBI mutual fund
21-05-2024 NFO promotion meet Whiteoak capital special opportunities fund
speaker Ms Amrita Mohanty ( head –
learning and development ) is was meet
where she explained the potential of this
fund

22-05-2024 NFO promotion meet Bajaj finserv multi asset allocation fund this
fund is like an hybrid funds where as all is
invested based on the market

23-05-2024 E – wealth and Tele- calling Done 70 calls and done 4 accounts

24-05-2024 Client meet The client was organized by HDFC (AMC) and
the speaker was guru from HDFC he gave a
presentation on mutual fund and how to
have personal finance better and properly
and talked about the current market and his
view on the impact of the election in market

27-05-2024 E-wealth and Tele-calling Learned to solve issues in E- wealth

28-05-2024 Marketing Learned to approach a stranger and learned

to convert the mind of others

29-05-2024 Marketing Learned to promote a product and pitch an

product

30-05-2024 Cold calling We tried cold calling the number that we

collected in our marketing day it was a
wonderful experience
31-05-2024 E-wealth and tele calling Done 7 E-wealth accounts and 60 calls

01-05-2024 Marketing Distributing pamphlets and

colleting mobile numbers

02-05-2024 NFO promotion meet attend a Nippon fixe cap fund learned a lot
promotion meeting about fixe cap funds

04-05-2024 Pamphlet distribution Traveled various insurance

companies for promotion

05-05-2024 Marketing Done cold call from the collected

number

06=05-2024 e-wealth account Opened 10 E- wealth account

07-05-2024 NFO promotion meet Baroda manufacturing fund Learn

about manufacturing fund

08-05-2024 holiday
2.3 Actual Timeline of activities

The actual timeline taken for tele-calling is the same as the expected timeline. I did
this within the stipulated period. There is no deviation in that. The actual timeline taken for
creating an e- wealth account is 2 or 3 days. Because the client not available at a moment.
They are busy with their work. They may go for office. Without them, I cannot complete our
process. The client needs to take a live photo and tell the OTP for verification.

For all these processes I need the client’s presence but the client is not available so I
had to wait for them. Then I will resume my process when he is free. That’s why it takes some
more time to complete the account. If there is an error in the documents given, it will get
rejected and I need to upload it again. For that, it takes some time to complete. If there is any
server issue or if the client has any network issue will delay our process. Even though there
are many disadvantages I completed my work perfectly and at a reasonable time.

2.3 Key activities in the job role

Creation of e-wealth

There were multiple processes involved in the creation of e-wealth. Each process required
some time but the target was accomplished on time. The processes include:

Step 1: Approaching people

Initially, I identified the potential customers and approached them to open the e-
wealth account. I gave them an in-depth explanation of mutual funds and their benefits for
using a trading account. The trading options through the mobile application were briefed to
them. It was quite difficult to convince people about the opening of the Demat account but
few people got convinced and they were ready to open the Demat account in their respective
names
Step 2: Collection of respective documents

The people who agreed to open the Demat account were requested to produce their
photocopy of the original documents like PAN card, Aadhar card, bank passbook/cancelled
cheque/passport, and sign in white background in order to start the Demat account opening
procedure. Few would not have linked Aadhar number with their phone number. In that case,
their parents’ number was asked to produce to get the OTP.

Step 3: Processing from our side

There are two processes involved in the creation of e-wealth. The first process was to
upload the required details and documents of the individual. A verification link would be
shared with them through email and SMS. They have to click on the provided link to verify the
undergoing process. After verification, the necessary details and documents were uploaded.
Another link would be shared with them through email and also through an SMS. The link
shared to their mail was requested to share with us for the second set of the processing
activity. After processing from our side, the e-wealth creation request would be registered
with the company.

Step 4: Activation process

After getting the link, the second set of processing is made with the help of the clients. The
fed data were once manually verified whether the right details and documents are uploaded
and then the OTP was fetched. Finally, the accounting process would be fully completed and
a confirmation of the process would be intimated to the client through the mail and an SMS.

Step 5: Error rectification

Usually, an error would be generated in most of the cases because of the images
uploaded documents or when there is no clarity with the submission of the documents. If an
error occurs, necessary steps will be taken to rectify the error. When there is no error in the
documents, the account would be activated and opened after two days of the creation.
 2.3 Conversion of value and non-value pack

The insurance agents, bank professionals and other existing mutual fund distributors
were approached to make them become NJ partners. The steps involved in this conversion
process are:

Step 1: Collection of data-base

The database of insurance agents and mutual fund distributors from various areasacross
Tamil Nadu was collected. The data were collected through IRDAI and AMFI websites.

Step 2: Approaching through telecalling

The value and non-pack people are approached through tele calling process but we
didn’t do any tele calling Activity our In- charge do this activity and we learnt and listen it. A
detailed explanation of the business of the NJ group was given and the benefit of becoming a
mutual fund distributor was elucidated. Many regretted the call and few showed interest in
becoming NJ distributors. As a result of this, a lead was generated and they were asked to
speak to the unit manager of NJ through a conference call.

Step 3: Taking up the AMFI examination

The fee structure of the examination was explained to them and if they were ready to
take up the mutual fund distributor examination on the desired date, their mandate details
like PAN card, Aadhar number, mail ID, and Phone number were piled from them and then
payment process was also made.

Step 4: Registered AMFI holder

Once the examination was cleared, an extra Rs.5000 was collected from the respective
people as the NJ enrolment fee. But this amount was refundable in the form of 25 lakh equity
or 30 e-wealth or 50000 SIP (Systematic Investment Planning).

Step 5: Mutual fund distributor

After completion of these processes, the person becomes an active mutual fund
distributor of NJ Investments India Pvt LTD.

2.4 Accomplishment of objectives/tasks

I worked until the given date and successfully completed all the work given to us such as

➢ Creating an E-wealth account

➢ Scanning the document for KYC verifications

➢ Meeting the requirements of the new office

➢ Network and product Quotation

 CHAPTER - III

Analysis of Job performance

3.1 Challenges Faced on the assigned task and its accomplishments

Partner Recruitment

For the month of September, it was instructed to generate 25 leads from

the non- value pack. As non-value pack are ARN holders or mutual fund distributors,
a challenge raised in convincing them as they knew all the in and out of the
business. They had multiple questions to me before even to start explaining. The
questions were entirely new and had to ask answers from the unit manager and
again explain to him. They were just getting the details of the company and said
rejected the proposal when asked for joining.

For the month of October, it was instructed to generate 15 leads from the
Value pack. Value pack is non-ARN holders who have to take up mutual fund
distributors exam. While talking to Value pack, a problem faced was that most of
the numbers were given wrong or the people where not interested to do the
business. We were only convincing the Insurance Agents but they were not
interested and were not able to understand what the business is and had to explain
in detail to them. We also went with poster designing and SMS flashing. Some leads
were generated from SMS flashing.

E Wealth Account Creation

The target had been given to create at least 10 E-Wealth accounts for
September andOctober each. The target for the month of September was achieved
and 10 accounts were created but for the Month of October’s target only 7
accounts were able to create.

I had to convince my friends and family to create the account. But the main
challenge faced was the fear. Most of the people said no because of the threat to
the data. They were askingmultiple questions on the security of data as they had to
give all the details form PAN, Aadhar authorization, Bank details and Signature.
Second problem faced was people not having required details. Out of 3 people
approached, 1 did not have the details like No PAN card, didn’t have bank account,
Aadhar card was not linked to any mobile number, did not renew their passbook
after bank merger (for selected banks) and most of their names were differentin
their different documents. Third, time was taken to create each account. The link
generation

form my end was within minutes but they had worked like to authorize OTP,
LiveCapture andanother OTP. People did only after many calls as they were going
to college or towork so hadto call each and every individual and had to force them
to complete their part.Thisprocess sometimes took more than 3 days which
depends upon individual.

I created documents like PAN from NSDL those who didn’t have it and did
multiple corrections on the other documents also. Sometimes I got the client link
and started filling itand just called them for OTP. This consumed some time and
made to create more account.

Database and SMS

On the month of May, a task was assigned to contact multiple Database

and SMS providers in India for the Database who were in Insurance and Banking
industry in Tamil Nadu except Chennai and Coimbatore. Contacted multiple
providers but the main problem faced there was to find the genuinely of the
company as well as the data we received.

Had to do multiple checks on the company starting from the business they
do to theirowners. Did SCO checks on their websites and for providers near Trichy,
Madurai we went inperson to get the details. While flashing SMS we had to find
the minimum flash provider as providers were not ready to flash 500 SMS in a shot.
Most of them said their minimum was 10000 SMS per shot. Finding the right SMS
provider was a challenge and maintaining the costof this task was even more.
3.2 Handy concepts that helped in the field
Components of Financial Markets

A financial market is a place where buyers and sellers come together to trade in
financial assets such as bonds, stocks, derivatives, currencies and commodities. The
main objective of a financial market is to fix prices for global trade, increase capital and
transfer risk and liquidity. The two most important financial markets components are
Capital Market and Money Market.

Money market, only short-term liquid financial instruments are exchanged and hold a
range of operational characteristics. The capital market plays a significant role in the
growth of a country’s economy as it provides a platform for mobilising funds and is a
long-term market. Mutual Funds invest in both the Capital and Money market for
growth and as well as for the security of the investor’s money. We were able to classify
the schemes of the given funds and understand their avenue of investment.

Mutual Funds

A mutual fund is a professionally managed investment fund that pools money from
many investors to purchase securities. The portfolio of a mutual fund is made up of all
of thefund's holdings. Mutual funds are purchased by investors. Each share reflects an
investor's portion of the fund's ownership and revenue. Mutual Funds are invested in
both Capital and Money Market according to the objective of the fund and the scheme.

There are three types of Mutual Funds: Equity Fund which invests in the capital market,
Debt Funds which are invested in the money market such as government bonds,
securities, Hybrid Funds which invest in both Capital and Money Market at the same
time. A balanced fund divides their investment between equity and debt and the
allocation which keeps changing upon the market risk. Gilt funds are those which only
invest in government securities who don’t want to take any risk. Funds are selected
and invested according to the objective of the scheme and the investment criteria.

Credit Rating
Credit rating in mutual funds is a tool to analyze the investment portfolios of Mutual
funds. CRISIL is one of the companies that give a rating to the financial products
according tothe global practices. It covers various categories across equity, debt and
hybrid asset class. Credit rating mainly focuses on the debt funds. Credit rating, not only
focuses on the Net Asset Value (NAV) but also combines and checks the portfolio
attributes for evaluation. It is a single point analysis of the mutual fund. It uses key
parameters such as risk-adjusted returns, asset concentration, liquidity and asset
quality. It is ranked based on 1 to 5 where 1 indicates that the fund is a very good
performing fund.

Insurance

Insurance is a contract, represented by a policy, in which an individual or entity receives

financial protection or reimbursement against losses from an insurance company. The
company pools clients' risks to make payments more affordable for the insured. We
alsodealt with multiple insurance like in life and non-life. Major insurance policies
are Life insurance, Health Insurance, Motor insurance and home insurance.

Compounded Annual Growth Rate (CAGR)

The compound annual growth rate is the annualized average rate of revenue growth
between two given years, assuming growth takes place at an exponentially compounded
rate. CAGR helped in calculating multiple avenues such as gold, inflation, equity,
savings, Fixed deposits and certain schemes in Mutual Funds returns for the past 40
years on average to decide where to invest and in what value.

Non-Banking Financial Services

A non-banking institution that is a company and has the principal business of receiving
deposits under any scheme or arrangement by any mode is a non-banking financial
company.It further states that the NBFC must be engaged in the business of Loans and
Advances, Acquisition of stocks, equities, debt issued by the government or any local
authority or othermarketable securities. As a company NJ INDIA INVEST Ltd., loans on
the securities investors are having and give complete access to the purchase of
securities and Mutual fundsof any company in India. It is a core Investment company
that primarily focuses on the financial technology they provide.

Equity funds

Equity mutual funds invest a significant amount of their assets in equity shares of
various corporations in specific proportions. This asset allocation is determined by the
type of equity fund and how well it matches the investment goal. Small-cap Equity
Funds invest in companies that rank above 250 in terms of their full market
capitalization-cap Equity Funds schemes invest in companies who rank between 101
and 250 by their full market capitalization. Large-cap Equity Funds invest in companies
who rank between 1 and 100 in terms of full market capitalization. Large- & Mid-cap
Equity Funds equally divide the allocation between large- and mid-cap equity and
related instruments and have the potential to offer high returns. The mandated
minimum exposure to both large-cap and mid-cap stocks is 35% each of the total assets.
Multi-cap equity funds invest in stocks across large-, mid-, and, small-cap companies.
Equity-Linked Savings Schemes are a tax-saving mutual fund investment scheme that
invest predominantly in equity and equity-related schemes. Under this scheme, the
corpus of the investment is invested majorly in equity and the rest in debt related
securities.

Debt funds

Debt funds invest in bonds such as government or corporate bonds, t bills, and
commercial papers. The subcategories of debt funds mentioned are overnight fund,
which has a one-day maturity, liquid fund, which has a 91-day maturity, and long
duration fund, which has a time zone of greater than seven years; these funds invest in
debt and money market instruments; medium duration fund has a time horizon of
three to four years; short duration fund has a time horizon of one to three years; low
duration fund has a time horizonof six months to 12 months; and corporate bond funds
should invest at least 80% of their entire assets, gilt funds are the funds that are
invested in government securities. Banking andPSU fund invest in banks and the public
sector undertakings.
 Hybrid funds

Conservative hybrid funds, balanced hybrid funds, and aggressive hybrid funds, as well
as dynamic asset allocation and multi asset allocation funds, arbitrage funds, and equity
savings funds, are all subcategories of hybrid funds. Aggressive hybrid funds invest 65
to 80

% in equity and 20% in debt over a five-year time horizon and are suitable for first-time
investors, while dynamic asset allocation funds invest in equity and debt in a dynamic
mannerand provide stable returns, and multi asset allocation funds include three asset
classes: equity,debt, and gold and international securities 10% of investments should
be placed in each of these three asset classes, and it is appropriate for investors who
are familiar with the benefitsand drawbacks of each asset class. Equity saving funds is
suitable for moderate investors andwhich includes investment in equity of 65 % and
debt of 10% and other asset classes.

3.3 Observations on the practices observed in the Organization vis-a-vis the

practices understood through academic inputs in the courses
Service Marketing Mix
Service marketing mix refers to the combination of marketing activities an organization
engages in to promote and sell intangible services, as opposed to tangible products. In
addition to the four Ps of traditional product marketing — product, price, place and
promotion — the services marketing mix includes the three of service marketing: people,
process and physical evidence. The services marketing mix is also referred to as the
extended marketing mix. Here in NJ India Invest, we observed each and every Ps of service
marketing.
E Wealth Account Opening
E-Wealth account is demat account which we studied in a detailed manner in
Management of Financial Services. We have also observed different types of accounts
used by different clients and partners.

Organizational Behavior
We have learned many things with respect to work ethics. This internship experience also
makes us more responsible and accountable for what decisions we make and how we
execute what’s been allocated to us. Team work is also one of the important things that
wereobserved while working in the organization.

Excel Working
The IT concepts taken in the first semester helped to segregate data from a database
containing both ARN holders and insurance agents. The skills to work with the MS Excel
werevery useful and those tricks helped to retrieve appropriate data from a given data.
 CHAPTER - IV

Summary of learning and recommendations

4.1 Summary of Key Learnings

An internship is a learning experience of its own kind. I have not only learned the basics
of work life but also the soft skills required for a brighter professional career. The first thing I
need to mention is definitely team work. Here, it is more professional and each one in a team
needs to work together to finish the task. I have also improved my problem-solving skills. I
have learned many things with respect to work ethics.

This internship experience also makes me more responsible and accountable for what
decisions I make and how I execute what’s been allocated to me. I also learned the most
important skill which is time management. Further, I learned about how the mutual funds
industry actually works and gained deep knowledge about Mutual Funds Distribution. I have
improved my presentation skills and negotiations skills here in this internship program. I have
also learned how to pitch the sales, how to talk to the client, how to achieve the target and
how to provide customer support.

4.2 Recommendations

Many learning have been gained through this SIP but still some recommendations
could be elucidated for the better improvement in the fore-coming days. Some of the
recommendations that could be professed are:

• NJ company has to expand its business in various locations

• Company has to increase its workforce in order to develop its operations and to
reach the common people in a higher manner

• The direct interaction with the partners was not visualized; instead, meetings were
exclusively held via the internet. This one-on-one encounter could reveal
distributors' actual behavioral attitudes, which would be quite useful in learning
more about them. Approaching the proper individuals can help you save time, and
 this can only be done through this interaction.

• Only 4.2 percent of India's population is knowledgeable with mutual funds. The
mutual fund company must take action at the ground level, such as assigning
campaigns, using digital marketing strategies to explain the benefits with real-life
examples, and displaying the actual return on investment. This allows for the
recruitment of many distributors at once, as well as the promotion of the company.

• Most people believe that a non-bank financial company (NBFC) cannot offer loans
against assets or take fixed deposits. However, just a few organizations, such as NJ
Investments India Pvt LTD, are taking use of these opportunities. As a result, financial
products from companies like these must be promoted and advertised at a high level
in order to reach the widest possible audience in the country.

• Due to a limited period we worked with companies, the lead generation goal could
not be met on time. Only learning sessions were held in September and tele-calling
were processed only during the October.

4.3 Key Learnings

• Learned how to approach each client

• Learned how to achieve leads

• Knowledge of the working of NJ Invest.

• Benefits in working as a partner in NJ wealth and its history.

• Learned how to speak with partners

• Services expected by partners in NJ Investment

• How to deal with B2B services

• How to open an E-wealth Account

• Documents mandatory for opening E-wealth Account

• What are the expectations of the company from their customers and how to ask our
queries through customer care services.
• How partners are coming into NJ wealth and their expectations towards the company.

• How to interact with the NJ customer care service and their responses to the queries
of their employees.
 • Different kinds of insurance available and how NJ provides it to their customers.
• Term insurance, General Insurance in different insurance companies.

• Different Insurance schemes in various Insurance companies

• Mutual Funds and their advantages

• Benefits of being with NJ and distributing MF along with other financial products to
their clients.
• Learned how Mutual Fund is interlinked with other financial products

• How a corporate field would be

• Technical requirements to start an office.

• Terms and conditions of NJ invest.

• Partner’s expectation on investing.

• Role of sales executive in NJ Investment

• How partners are approaching clients for creating E wealth and how to get
documents from clients.
• Reasons for having an E wealth account pending.

• Reasons for rejection of E-wealth account.

4.4 References
1. https://www.hdfclife.com/
2. https://mf.nipponindiaim.com/
3. https://www.tatamutualfund.com/
4. https://www.assetmanagement.hsbc.co.in/en/mutual-funds
5. https://www.icicipruamc.com/mutual-fund
6. https://www.thebusinessresearchcompany.com/report/financial-services-global-market-
report

7. https://www.ibef.org/industry/financial-services-india
8. https://www.njindiaonline.in/pdesk
9. https://esign.egov-nsdl.com/nsdl-esp/authenticate
10. https://eportal.incometax.gov.in/iec/foservices