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

23PBA259
ABINAYA G

SIP at NJ Wealth, Madurai

June 15, 2024
Faculty Guide: Dr. S. Karthikeyan
 ST. JOSEPH’S INSTITUTE OF MANAGEMENT (JIM)
A Jesuit Business School
St. Joseph’s College, Tiruchirappalli 620 002, Tamil Nadu, India

CERTIFICATE

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

Internship Placement (SIP) Report is Director
an authentic record of

Abinaya G (23PBA259) Dr. Albin D Robert Lawrence

Dean - Academics

carried out at
NJ Wealth, Madurai Dr. S. Karthikeyan
in partial fulfilment of the Faculty Guide
requirements for the award of MBA.
 DECLARATION

I hereby declare that the SIP report is based on my internship done in NJ Wealth, Madurai
from 01 April 2024 to 08 June 2024 under the guidance of Mr. Pooarasan Unit Manager, NJ
Wealth, Madurai and Dr. S. Karthikeyan, St Joseph’s Institute of Management (JIM),
Tiruchirappalli.

Date: 15/06/2024 Signature:

 Acknowledgements

I would like to express my heartfelt gratitude to the St. Joseph’s Institute of Management for
providing me with the opportunity to undertake this internship, which has been instrumental
in shaping my career aspirations.

I am deeply indebted to NJ Wealth, Madurai, for welcoming me into their esteemed

organization and providing me with a conducive environment to learn and grow.

I am particularly grateful to my industry guides, Mr. Pooarasan, Unit Manager and Mr. Vignesh
Babu, Ex Branch Manager for their constant guidance, support, and encouragement
throughout the internship.

I am thankful to our Director, Rev. Dr. P Paulraj SJ, and our Administrator Rev. Fr. I Antony
Inico SJ for their support in making this internship program a success.

I would like to thank Dr. S Manoharan, Chair-Placements for his continuous support
throughout the internship journey.

A special thanks to my faculty guide, Dr. S Karthikeyan, for his guidance and support before
and during the internship. He played a crucial role in preparing me for the internship and
ensuring a smooth transition into the industry environment.

This acknowledgement would be incomplete without expressing my gratitude to my co-

internees for their cooperation and support during my internship. This internship has been an
invaluable learning experience that has contributed significantly to my professional
development.

ABINAYA G
23PBA259
 Executive Summary

The Summer Internship Placement (SIP) marks a pivotal phase in our MBA program, where
theoretical knowledge is translated into practical application. My inclination towards the
mutual fund field led me to undertake my internship at NJ Wealth, Madurai under the
guidance of Mr Pooarasan, Unit Manager and Mr Vignesh Babu, Ex Branch Manager.

The Internship at NJ Wealth provided a remarkable learning experience, offering ample

opportunities to apply analytical skills and gain comprehensive knowledge about mutual
funds and related aspects. The training delves into a complete overview of mutual funds and
insurance.

A systematic approach was adopted to cover the entire internship program, ensuring clarity
even for those new to the mutual funds. Beyond observing this, we actively engaged in Tele
calling and Creation of E Wealth Account through NJ Partner desk.

The report is structured into 4 main chapters:

• Industry and Company Overview – Description of the industry, Profile of the

organisation in terms of the nature of its business, SWOT analysis of the company,
products or services, competitors, turnover/revenue and earnings, organisation chart.
• Theories and Concepts – Relevant to area of work performed, Learnt by articles and
Knowledge acquired from online courses.
• Description and Analysis of Tasks – Work plan, Timeline of activities, Description of
accomplished tasks, Challenges, Observations on the practices.
• Summary of Learnings and Recommendations – Reflections about the job and key
learnings from this SIP.

The internship at NJ Wealth has been instrumental in bridging the gap between theoretical
understanding and real-world application, preparing me for future endeavours in the mutual
fund industry. The guidance and mentorship provided by industry guides were invaluable in
maximizing learning outcomes and personal growth.
 Chapter I

Industry and Company Overview

The Mutual fund industry stands as a beacon of moder investment, offering individuals divers
opportunities to grow their wealth and achieve financial goals. In this chapter, we delve into
the dynamics of the mutual fund landscape. Beginning with a panoramic view, we analyze the
global mutual fund industry, drawing upon insights from CRISIL Research and other reputable
sources. Transitioning to the Indian context, India’s mutual fund industry has emerged as a
opportunity for investors and financial institutions alike. Furthermore, we scrutinize the
industry’s major players. In the latter part, we shift our focus to NJ Wealth, a stalwart in India’s
mutual fund distribution landscape. Providing a detailed profile of the organization, SWOT
analysis, product portfolio, competitive positioning, financial performance and organizational
structure.

Global scenario

The global mutual fund assets market size was valued at $54.93 trillion in 2019, and is
projected to reach $101.2 trillion by 2027, growing at a CAGR of 11.3% from 2020 to 2027.
The significance of mutual funds as a preferred investment option for both small and large
investors, offering professionally managed portfolios at a low cost. It discusses factors driving
market growth such as increased investment, technological advancements, and government
support, as well as challenges like market volatility and high expenses.

The equity funds segment dominates the market due to factors like diversification and
systematic investments. The mutual fund asset market is segmented on the basis of fund type,
distribution channel, investor type, and region. In terms of fund type, it is segmented into
equity funds, bond funds, money market funds, and hybrid & other funds. On the basis of
distribution channel, it is classified into banks, financial advisors/brokers, direct sellers, and
others. By investor type, it is divided into institutional and individual. Region-wise, the market
is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Key players in the market
include BlackRock, Inc., BNP Paribas Mutual Fund, and The Vanguard Group, Inc.

COVID – 19 has had a moderate impact on the market, with increased online transactions
compensating for disruptions caused by the pandemic. The adoption of digital technologies
like robo-advisors and AI is driving market growth by enhancing efficiency and reducing costs.
Asia-Pacific to show the highest growth rate, attributing it to emerging economies and the
presence of asset management companies. However, challenges remain, such as meeting
customer expectations and delivering satisfactory services.

In overall, the mutual fund assets market shows promise for expansion, driven by factors like
increased investment, technological innovation, and supportive government policies.

Indian Scenario

SEBI introduced progressive restructuring measures in September 2012 to revive the growth
of the industry. The mutual fund AUM surpassed Rs 10 lakh crore for the first time in May
2014 and Rs 20 lakh crore in August 2017. As of 31st January 2024, the mutual fund industry
AUM stands at Rs 52.74 lakh crore, a 6-fold growth in the last 10 years. The number of folios
crossed a milestone of 10 crore in May 2021, and as of 31st January 2024 stands at 16.96
crore.

The increasing awareness of mutual funds, regulatory framework, and mutual fund
distributors have played a pivotal role in achieving this. The ease, convenience, and low entry
barriers (as low as Rs 100!) in mutual funds through SIP have made investing accessible to a
wider audience. SIP accounts crossed the milestone of 1 crore in April 2016, and as of 31
January 2024, the number of SIP accounts is at 7.92 crore. Furthermore, the mutual fund
industry is expected to cross an AUM of Rs 100 lakh crore and onboard 10 crore investors in
the next decade.

India’s AUM to GDP ratio stands at a mere 17%, indicating the industry is still at a nascent
stage and has a long way to go before becoming a mature and developed industry. Mutual
fund distributors have acted as a catalyst for growth and will continue to remain at the heart
of the industry. As this industry navigates its evolution, the collaborative efforts of regulators,
fund houses, and distributors will play a pivotal role in shaping a robust and investor-friendly
environment.

Players in the industry along with market shares

AMC Market Share

 Name of AMC Market Share

SBI Funds Management Ltd 17.6%

ICICI Prudential Asset Management Company Limited 12.6%

HDFC Asset Management Company Limited 11.0%

Kotak Mahindra Asset Management Co Ltd 7.0%

Nippon Life India Asset Management Ltd 7.0%

Aditya Birla Sun Life AMC Ltd 6.6%

Axis Asset Management Company Limited 5.5%

UTI Asset Management Company Ltd 5.5%

Mirae Asset Investment Managers (India) Private Limited 3.0%

Edelweiss Asset Management Limited 2.8%

DSP Investment Managers Private Limited 2.7%

Tata Asset Management Limited 2.7%

Bandhan Asset Management Company Limited 2.7%

Others 13.1%

Profile of the Organisation

NJ Group is a leading player in the Indian financial services industry known for its strong
distribution capabilities. NJ is an acronym for Neeraj Choksi and Jignesh Desai, two friends
from Surat and Navsari respectively, who started NJ India Invest Private Limited. The journey
of NJ began in 1994 with the establishment of NJ India Invest Private Limited, the flagship
company, to cater to investor needs in the financial services industry. Today, the NJ Wealth
Distributor Network, earlier known as the NJ Fundz Network, started in 2003 is among the
largest networks of financial products distributor in India.

Over the years, NJ Group has diversified into other businesses and today has the presence in
businesses ranging from financial products distributor network, asset management, real
estate, insurance broking, training & development, technology & distribution of Organic food
products, an Interior Designer, innovative loan products, offshore funds across the globe and
charitable trust. Our rich experience in financial services, combined with executional
capabilities and strong process & system orientation, has enabled us to shape a rising growth
trajectory in our businesses.

NJ Group is based out of Surat in Gujarat (India) and has presence in 185+ locations in India
and has over 2,017+ employees.

SWOT analysis

Strengths Weakness
• NJ India Invest is present in 23 states • Most important lacking element in
with 185+ branches with 21000+ the company is that awareness about
existing partners. the company is very less in the
• NJ India is a dominant player in market.
the Indian Mutual Funds distribution • NJ is only dominant in Mutual Funds.
business with over a decade of They should also focus on other
experience. financial instruments.
• NJ India Invest has tied up with 40+
AMCs.
• NJ has over INR 2,00,000 crores of
mutual fund assets under advice.
• NJ is providing technical help and
guidance to its partners.
 • NJ has strong 360-degree supports
which make it different from its
competitor.

Opportunities Threats
• They have a very wide scope in the • High market competition.
financial sector. • Need to compete even with banking
• NJ can utilize the dominant position. channel.
It has and optimally uses the huge • Growing individual competitor.
network of its partners.
• NJ can use its network of partner in
selling insurance.

Products Offered
• Mutual Funds
• Loan Against MF
• National Pension Scheme
• Corporate Fixed Deposit
• Portfolio Management Service
• Sov. Gold Bond
• Bond & FD
• Equity & EFTS

Competitors
According to Tracxn, NJ Group has a total of 260 competitors and it ranks 78th among them. 4
of its competitors are funded while 102 have exited. Overall, NJ Group and its competitors
have raised over $338M in funding across 24 funding rounds involving 25 investors. There are
11 public and 91 acquired companies in the entire competition set. Some of the competitors
mentioned below:

• Prudential
• Perspective
• Tilney
• Sandaire
Revenue and earnings
• Revenue / turnover of NJ INDIA INVEST PRIVATE LIMITED is Over INR 500 CR
• Net worth of the company has increased by 29.32 %
• EBITDA of the company has increased by 14.67 %
• Total assets of the company has increased by 30.30 %
• Liabilities of the company has increased by 44.94 %

Organisation Chart

Managing Director

National Head

Zonal Head

Regional Manager

Branch Manager

Unit Manager
 Chapter II
Theories and Concepts
In the realm of professional development, theory serves as the guiding light illuminating the
path from abstract concepts to tangible outcomes. As I reflect on my journey during this
internship, it becomes evident that the practical experiences I've encountered are deeply
intertwined with established theories and conceptual frameworks. This chapter serves as an
exploration into the theoretical underpinnings that have shaped and informed by
understanding, actions, and insights throughout the internship period.

Theories and concepts relevant to area of work performed in the company

Mutual Funds

A mutual fund is a pool of money managed by a professional Fund Manager. It is a trust that
collects money from a number of investors who share a common investment objective and
invests the same in equities, bonds, money market instruments and/or other securities. And
the income / gains generated from this collective investment is distributed proportionately
amongst the investors after deducting applicable expenses and levies, by calculating a
scheme’s “Net Asset Value” or NAV. Simply put, the money pooled in by a large number of
investors is what makes up a Mutual Fund.

Advantages of Mutual Funds

Professional Management: Mutual funds are managed by experienced professionals who

actively buy, sell, and monitor investments, providing expertise and resources that individual
investors may lack.

Risk Diversification: Investing in mutual funds allows for diversification across various
securities and asset categories, reducing the risk of having all investments tied to a single
asset.

Affordability & Convenience: Mutual funds offer the opportunity to invest small amounts
with lower initial investment requirements compared to purchasing individual securities.
Liquidity: Investors can easily redeem their investments in open-ended mutual fund schemes
to meet financial needs, providing easy access to funds.

Low Cost: Mutual funds typically have low expense ratios due to economies of scale, making
them cost-effective investment options.

Well-Regulated: Mutual funds are regulated by authorities like the Securities and Exchange
Board of India (SEBI), ensuring investor protection, transparency, and fair valuation principles.

Tax Benefits: Certain mutual fund investments, such as Equity Linked Savings Schemes (ELSS),
offer tax benefits under specific sections of the Income Tax Act, making them tax-efficient
investment avenues.

Types of Mutual Fund

Types of Mutual Fund

Money Debt Gold Equity

Market Fund Fund Fund
Fund

Ideal product Ideal product Ideal product Ideal product

for parking for short term for for building
temporary investment investment in wealth in
money gold long term

Best product Best product Best product Better

compared to compared to compared to product
savings and bank and Co. physical gold compared to
current A/C FD direct equity
Investment Plans
Lumpsum Investment
When you invest in a mutual fund in a lump sum, it means a single, bulk amount locked into a
one-time mutual fund investment. This is as opposed to spreading it out over time, like
in SIP (Systematic Investment Plans). Lump-sum investments in mutual funds are usually
preferred by prominent players and investors who particularly depend on company stock
appreciation for capital creation. For an investor with a sizeable investment amount and a
high-risk capacity, a lump sum mutual fund investment can be a good opportunity.

Systematic Investment Plan (SIP)

A Systematic Investment Plan (SIP), more popularly known as SIP, is a facility offered by mutual
funds to the investors to invest in a disciplined manner. SIP facility allows an investor to invest
a fixed amount of money at pre-defined intervals in the selected mutual fund scheme. The
fixed amount of money can be as low as Rs. 500, while the pre-defined SIP intervals can be on
a weekly/monthly/quarterly/semi-annually or annual basis. By taking the SIP route to
investments, the investor invests in a time-bound manner without worrying about the market
dynamics and stands to benefit in the long-term due to average costing and power of
compounding.

Concepts learnt by referring articles

The concept addressed in the article Strategic Financial Leadership: 6 Skills CFOs Need Now is
Strategic Financial Leadership, particularly focusing on the evolving role of Chief Financial
Officers (CFOs) in modern business environments. It emphasizes that CFOs are now expected
to go beyond traditional financial responsibilities and take on more strategic roles in driving
growth, leveraging technology, and planning for the future of the organization.

Reporting and Forecasting: CFOs must ensure accurate financial reporting and forecasting
while also delving deeper into the data to provide actionable insights for the organization.

Financial Planning and Analysis: CFOs should proactively analyze financial and operational
performance, generate hypotheses, and test them to drive value and inform strategic
decisions.
Risk Management and Mitigation: CFOs need to identify, assess, and mitigate risks across the
organization while also recognizing opportunities that arise from managing risks effectively.

Digital Transformation: CFOs should lead efforts to automate back-office operations, freeing
up time and resources for more strategic initiatives, and leveraging technology to improve
efficiency and effectiveness.

Talent and Culture: CFOs should play an active role in recruiting, developing, and retaining top
financial talent, partnering with HR to invest in talent development and aligning talent
strategies with the company's long-term goals.

Strategic Planning: CFOs should collaborate with leadership to develop long-term revenue
and profitability growth plans, leveraging data and external expertise to identify opportunities
for business transformation and value creation.

The concept discussed in the article After the 'Crypto Crash,' What's Next for Digital
Currencies? is the current state and future prospects of digital currencies, particularly in the
aftermath of a significant decline in their market value, often referred to as the "crypto crash."

Volatility and Uncertainty: The article highlights the inherent volatility of cryptocurrencies
and the uncertainty surrounding their long-term viability and utility. Factors such as
technological advancements, regulatory developments, and market dynamics contribute to
this uncertainty.

Entrepreneurship and Innovation: Despite the recent market downturn, there is ongoing
entrepreneurial activity and innovation within the crypto space. The article suggests that
periods of market consolidation can provide opportunities for entrepreneurs to focus on
product development and innovation.

Regulatory Challenges: The article acknowledges the need for regulatory frameworks to
protect consumers and promote market stability. However, it also highlights the challenges of
regulating a rapidly evolving and complex ecosystem, particularly in balancing stability with
innovation and competition.

Consumer Protection: There is a recognized need for improved transparency, education, and
consumer protection measures within the cryptocurrency market. This includes clearer
disclosure standards, better risk communication, and enhanced regulatory oversight.
Learning acquired from relevant online courses done during the period

Introduction to Fintech

Definition and Scope: Providing an overview of what FinTech encompasses, including the
intersection of finance and technology, and the various sectors it impacts such as banking,
payments, lending, insurance, wealth management, and more.

Evolution: Tracing the historical development of FinTech, highlighting key milestones,

innovations, and disruptions that have shaped the industry's trajectory over time.

Market Trends: Exploring current trends and dynamics in the FinTech landscape, such as the
rise of digital payments, the emergence of blockchain and cryptocurrencies, the growth of
neobanks, the impact of artificial intelligence and machine learning, and the increasing focus
on financial inclusion and accessibility.

Challenges and Opportunities: Discussing the challenges and opportunities facing the FinTech
industry, including regulatory considerations, cybersecurity risks, competition from traditional
financial institutions, and the potential for innovation to drive efficiency, convenience, and
financial empowerment.

Importance and Impact: Highlighting the significance of FinTech in reshaping traditional

financial services, democratizing access to financial products and services, fostering
innovation and entrepreneurship, and driving economic growth and development globally.

Financial Modelling and Valuation using MS Excel

Financial Modelling Fundamentals: Introduction to financial modelling principles, including

building dynamic financial models, understanding financial statements (income statement,
balance sheet, cash flow statement), and applying financial ratios.

Excel Techniques: Learning essential Excel skills and techniques for financial modelling, such
as formulas and functions, data manipulation, formatting, charts, and graphs.

Forecasting and Projections: Techniques for forecasting financial performance, projecting

future revenues, expenses, and cash flows, and incorporating assumptions and scenarios into
models.
Valuation Methods: Understanding different valuation methodologies used in finance, such
as discounted cash flow (DCF) analysis, comparable company analysis (CCA), and precedent
transactions analysis (PTA).

Company Analysis: Conducting in-depth analysis of companies, including financial statement

analysis, ratio analysis, and industry benchmarking.

Financial Modelling for Decision Making: Using financial models to support decision-making
processes, such as investment analysis, capital budgeting, mergers and acquisitions (M&A),
and financial planning.

Risk Analysis: Incorporating risk factors and sensitivity analysis into financial models to assess
the impact of uncertainties and risks on investment decisions.

Excel Macros and VBA: Introduction to Excel macros and Visual Basic for Applications (VBA)
for automating repetitive tasks and enhancing the functionality of financial models.

Real-world Case Studies: Application of financial modelling and valuation techniques to real-
world scenarios and case studies from various industries, allowing learners to practice and
reinforce their skills.
 Chapter III

Description and Analysis of Tasks

During the internship, I had the invaluable opportunity to immerse myself in the practical
realities of mutual fund industry, gaining hands-on experience and insights into the day-to-
day operations of a dynamic and forward-thinking organization. This chapter serves as a
detailed account of the tasks undertaken during the internship period, offering a
comprehensive analysis of their significance, relevance, and outcomes.

Work plan

• Tele calling and lead generation

• Creation of E Wealth Account

Timeline of activities

Week 1
Day – 1 (01-04-2024) Overview of the company, Basic terms (Mutual funds)
Day – 2 (02-04-2024) Mutual fund Growth, Advantages of Mutual fund, Types of Mutual fund
(Money Market, Debt, Gold, Equity)
Day – 3 (03-04-2024) Investment plans (Lumpsum, SIP), Mutual Funds Potential in India
Day – 4 (04-04-2024) Benefits for Mutual fund distributor, Commission types (Upfront
Commission, Trial Commission)
Day – 5 (05-04-2024) Commission Calculation, How to Become a Mutual Fund distributor
individually as well as NJ Partner, Orientation about NAV by Employee
of TATA Mutal Fund
Day – 6 (06-04-2024) BOP Presented by us, Gathering Data of Insurance Agents
Week 2
Day – 7 (08-04-2024) Tele Calling and report it to Manager
Day – 8 (09-04-2024) Overview of Insurance, Types of Insurance, Benefits of Insurance
Day – 9 (10-04-2024) Benefits of Insurance agents in NJ
Day – 10 (11-04-2024) Ramzan (Holiday)
Day – 11 (12-04-2024) Tele calling and report it to Manager
Day – 12 (13-04-2024) Holiday
 Week 3
Day – 13 (15-04-2024) Tele Calling, Overview of E Wealth Account
Day – 14 (16-04-2024) Tele calling and report it to Manager
Day – 15 (17-04-2024) Tele Calling and report it to Manager
Day – 16 (18-04-2024) Tele Calling and report it to Manager, Creation of E Wealth Account
Day – 17 (19-04-2024) Election (Holiday)
Day – 18 (20-04-2024) Tele Calling and Creation of E Wealth Account
Week 4
Day – 19 (22-04-2024) Tele Calling & Document Collection for E Wealth Account
Day – 20 (23-04-2024) Tele Calling & Document Collection
Day – 21 (24-04-2024) Orientation given by Unit Manager about live creation of E Wealth
Account (Step by Step Process)
Day – 22 (25-04-2024) Tele Calling & Creation of E Wealth Account
Day – 23 (26-04-2024) Tele Calling & Creation of E Wealth Account
Day – 24 (27-04-2024) Holiday
Week 5
Day – 25 (29-04-2024) Orientation by Branch Manager about Mandate (E Wealth Account)
and New Fund Offer which is launched on April 26 by HDFC (HDFC
Manufacturing Fund – Growth)
Day – 26 (30-04-2024) Creation of E Wealth Account
Day – 27 (01-05-2024) Holiday
Day – 28 (02-05-2024) Creation of E Wealth Account
Day – 29 (03-05-2024) Creation of E Wealth Account
Week 6
Day – 31 (06-05-2024) Tele Calling and Creation of E Wealth Account
Day – 32 (07-05-2024) Tele Calling and Creation of E Wealth Account
Day – 33 (08-05-2024) Tele Calling and Creation of E Wealth Account
Day – 34 (09-05-2024) Tele Calling and Creation of E Wealth Account
Day – 35 (10-05-2024) Tele Calling and Creation of E Wealth Account
Day – 36 (11-05-2024) Holiday
Week 7
Day – 37 (13-05-2024) Tele Calling and Creation of E Wealth Account
Day – 38 (14-05-2024) Tele Calling and Creation of E Wealth Account
 Day – 39 (15-05-2024) Tele Calling and Creation of E Wealth Account
Day – 40 (16-05-2024) Tele Calling and Creation of E Wealth Account
Day – 41 (17-05-2024) Tele calling, Creation of E Wealth Account, Attended Partner (Monthly)
Meet and Orientation by SBI Mutual Fund employee about NFO (SBI
Automotive Fund) which was launched on that day
Day – 42 (18-05-2024) Tele Calling and Creation of E Wealth Account
Week 8
Day – 43 (20-05-2024) Tele Calling and Creation of E Wealth Account
Day – 44 (21-05-2024) Tele calling and Creation of E Wealth Account
Day – 45 (22-05-2024) Tele Calling and Creation of E Wealth Account
Day – 46 (23-05-2024) Tele Calling and Creation of E Wealth Account
Day – 47 (24-05-2024) Tele Calling and Creation of E Wealth Account
Day – 48 (25-05-2024) Holiday
Week 9
Day – 49 (27-05-2024) Tele Calling and Creation of E Wealth Account

Day – 50 (28-05-2024) Tele Calling and Creation of E Wealth Account

Day – 51 (29-05-2024) Tele Calling and Creation of E Wealth Account

Day – 52 (30-05-2024) Tele Calling and Creation of E Wealth Account

Day – 53 (31-05-2024) Tele Calling and Creation of E Wealth Account

Day – 54 (01-06-2024) Tele Calling and Creation of E Wealth Account

Week 10
Day – 55 (03-06-2024) Tele Calling and Creation of E Wealth Account

Day – 56 (04-06-2024) Tele Calling and Creation of E Wealth Account

Day – 57 (05-06-2024) Tele Calling and Creation of E Wealth Account

Day – 58 (06-06-2024) Tele Calling and Creation of E Wealth Account

Day – 59 (07-06-2024) Tele Calling and Creation of E Wealth Account

Day – 60 (08-06-2024) Holiday

Description of relevant training received

The induction programme was handed to each of us around two weeks of our internship. The
Manager clearly explained about their company (profile of the organisation, products they
offered etc), mutual funds (advantages, types, Investment plans, NFO etc) and distributors
(How to become, benefits, advantages in NJ, Commission etc.) etc. Also, he taught us, how to
open an E Wealth account for clients (Step by Step process), how to convince the insurance
agents to become a mutual funds distributor. The branch manager oriented about NISM exam;
it helps to become a partner in NJ. Employees from different AMCs oriented about their launch
of NFO (Tata mutual fund, HDFC mutual fund, SBI mutual fund).

Detailed description of Key activities in carrying out the job functions

Opening an e-Wealth account for clients involves a series of systematic steps to ensure a
seamless and compliant process:

• Access the NJ Partner Desk platform using authorized login credentials to initiate the
account opening process.
• Click on the Stock Exchange menu and select the option for E-Wealth Account
Registration.
• Choose the appropriate option for E-Wealth Mutual Fund (MF) and select the type of
holder (single, double, or triple).
• Input the basic details of the applicant, including tax status, PAN number, and date of
birth.
• Click on the Verify button to ensure the accuracy of the entered information.
• Enter the applicant's contact details, including phone number and email address.
• Input details such as annual income, occupation, and marital status.
• Enter the name of the applicant's father or spouse, and make preference declarations
regarding politically exposed person status and opt-in for WhatsApp services.
• Provide the necessary FATCA declaration as per regulatory requirements.
• Upload relevant bank details and verify them by clicking on the verify bank option.
• Initiate bank auto-verification to confirm the validity of the provided bank details.
• Upload the applicant's signature as part of the verification process.
• Once the above steps are completed, a reference number and a link are generated and
sent to the client via email and SMS.
• The client verifies the provided details by clicking on the URL provided in the email and
entering the OTP sent to their registered mobile number and email address.
 • After verification, proceed to Digi locker for document verification and KYC (Know Your
Customer) details modification.
• Input the Aadhaar number for verification purposes.
• Authenticate the process by verifying the OTP sent to the registered mobile number.
• Confirm the details retrieved from Digi locker and authorize the download of client's
CKYC (Central Know Your Customer) data.
• Enter the applicant's permanent address as per the provided documents.
• Provide details for nominee registration as it's mandatory for the account opening
process.
• The client undergoes a live photo verification process as part of the KYC procedure.
• Generate the application form and necessary documents in PDF format.
• Initiate the E-Sign process for electronic signature verification.
• Complete the E-Sign verification process to finalize the account opening.
• After successful completion, the team informs the client shortly about the activation
status of their e-Wealth account.

Tele Calling to generate the lead

• The process begins with thorough research on the IRDAI website to identify insurance
agents who could be interested in expanding their portfolio to include mutual funds.
This includes gathering their contact details.
• Agents are then contacted via phone calls. It's important to be professional, courteous,
and respectful of their time. Introduce ourself, the company we represent, and the
purpose of the call clearly.
• Clearly outline the benefits of joining NJ as a mutual fund distributor. This may include
competitive commissions, comprehensive training and support, access to a wide range
of mutual funds, marketing assistance, and potential for career growth.
• We prepared to address any concerns or objections the agents may have. Common
concerns may include regulatory compliance, time commitment, earning potential,
and competition. Provide accurate information and offer solutions to alleviate their
concerns.
 • If an agent expresses interest but needs more time to consider the opportunity,
schedule a follow-up call. Following up demonstrates persistence and reinforces our
commitment to helping them succeed
• Once an agent agrees to join NJ as a mutual fund distributor, guide them through the
necessary documentation and onboarding process. This may involve completing
application forms, obtaining necessary licenses or certifications, and attending training
sessions.
• Maintain regular communication with newly onboarded distributors to provide
ongoing support, address any issues or questions they may have, and nurture the
relationship. Building strong relationships fosters loyalty and encourages agents to
remain actively engaged with NJ.
• Monitor the performance of the newly onboarded distributors and provide
constructive feedback and guidance to help them compete their NISM exam.

Description of tasks or objectives that we accomplished

Tele calling:

• We diligently completed the daily targets set for tele calling.

• Through our efforts, we effectively engaged potential leads via phone calls.
• We adeptly communicated the benefits and features of the e-Wealth account and
other relevant financial products or services.
• Our persuasive skills and professionalism led to the generation of quality leads.
• By consistently meeting our telecalling targets, we contributed significantly to the
overall objectives of the organization.

E-Wealth Account Opening:

• Despite potential challenges or obstacles, we successfully accomplished the target of

opening e-Wealth accounts.
• We navigated through the account opening process efficiently, ensuring compliance
with all regulatory requirements and internal procedures.
 • Our attention to detail and accuracy in completing documentation and verification
procedures contributed to a smooth and seamless account opening experience for
clients.
• Through effective communication and coordination with relevant stakeholders, we
facilitated the timely processing of e-Wealth account applications.
• Our commitment to achieving targets and delivering exceptional service to clients
reflects positively on the organization and enhances its reputation in the financial
services industry.

Challenges

E Wealth Account

The goal was to open 50 E-Wealth accounts. My family and friends needed to be persuaded
to open the account. But the anxiety was the biggest problem. Due to the risk to the data, the
majority of respondents responded negatively. As they had to provide all the information,
including their PAN, Aadhar authorization, Digi locker, bank information, and signature. They
had several inquiries about the security of the data. The second issue was that people lacked
the necessary information. Many people had 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 different in various documents.
Additionally, each account's creation took some time. Even though they worked quickly to
authorise OTP, Live Capture, and another OTP, the connection generation on my end took
several minutes. People didn't finish their part until after numerous calls because they were
leaving for job or college. Depending on the individual, this process can take up to 3 days. On
occasion, after receiving the client link and beginning to fill it out, I just called them to get the
OTP. As a result, more accounts had to be created, which took time.

Tele calling

I was given the duty of making calls, obtaining leads, and converting those leads. I acquired
by contacting people through IRDAI and AMFI website. At first, I didn't know the answers to
the questions been asked by the caller, so when I wasn't sure I had to ask the manager for
clarification before explaining them to the callers. I gave the partners and clients inquiries and
responses they were hoping for. Most of them simply expressed interest in the company but
declined when we invited to join in the meeting. Occasionally, while placing calls, a network
issue occurred. I called at a pitch higher than usual to sort this problem. As many of them, are
busy doing the job. Mostly, I had to call them in the evening. Patience is necessary when
telephoning. I occasionally need to have patience while dealing with consumers or partners
that are rude. The key to success in tele calling is perseverance. To turn leads into partners, a
lot of work and perseverance are needed. The primary factor on which I kept my attention
and continuously checked is customer satisfaction. Customer happiness is very important in
tele calling. These are the difficulties I ran through while telephoning.

Observations on the practices

Components of financial markets:

In order to exchange financial assets like bonds, stocks, derivatives, currencies, and
commodities, buyers and sellers congregate in a financial market. A financial market's primary
goals are to increase capital, establish prices for international trade, and transfer risk and
liquidity. Capital Market and Money Market are the two most significant financial markets'
components. Only short-term liquid financial instruments are traded in the money market,
which has a variety of operational characteristics. Because it serves as a venue for raising
money and is a long-term investment, the capital market is crucial to the expansion of a
nation's economy. 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:

Mutual funds are professionally managed investment vehicles that aggregate the funds from
numerous individuals to purchase securities such as stocks, bonds, money market
instruments, and other assets. Professional money managers run mutual funds. They
distribute the assets of the fund and work to increase investors capital gains or income. The
investing objectives outlined in a mutual fund's prospectus are reflected in the portfolio's
structure and upkeep. Shares, bonds, money market instruments, gold, and other assets and
securities are examples of investments. In mutual funds, there are various kinds of schemes.
Equity schemes refer to mutual funds that primarily invest in stocks. Bonds and treasury bills
are examples of fixed-income mutual funds. A hybrid fund is created by combining debt and
equity funds. Mutual fund types known as "liquid funds" invest in assets with residual
maturities of up to 91 days. This basically functions as a short-term fund. A mutual fund called
a "balanced fund" often has stocks and bonds included in its composition. It is made up of
30% bonds and 70% equities. Government securities are the main focus of gilt funds, which
are debt funds. These investments are risk-free and long-term funds.

• Equity funds: Equity mutual funds invest a sizeable portion of their assets in a defined
ratio of equity shares of different firms. The kind of equity fund and how well it
matches the investment objective define this asset allocation. Small-cap Equity Funds
make investments in businesses with market capitalizations that are 250 crores higher.
Mid cap Equity Funds plans make investments in businesses with full market
capitalization rankings of 101 to 250. Large-cap equity funds make investments in
businesses with market capitalizations ranging from 1 to 100. Large- & Mid-cap
equities funds have the abilities to provide significant returns by distributing the
allocation between large and mid-cap equities and linked securities equally. A
minimum of 35% of the total assets must be invested in large-cap and mid-cap
equities, respectively. Multi-cap equity funds buy equities from big, mid-sized, and
little companies. Equities-Linked Savings Schemes are a tax-advantaged mutual fund
investment programme that places the majority of its investments in equities and
equityrelated programmes. In this plan, the majority of the investment corpus is
placed in equities assets, with the remainder in debt-related securities.
• Debt funds: Debt funds invest in bonds, including T-bills, commercial papers, and
government or corporate bonds. The subcategories of debt funds described are long
duration funds, which have a time zone of more than seven years, overnight funds,
which have a time zone of one day, liquid funds, which have a time zone of 91 days,
and these funds invest in debt and money market instruments; Corporate bond funds
should invest at least 80% of their total assets; gilt funds are the funds that are invested
in government securities. Medium duration funds have a time horizon of three to four
years; Short duration funds have a time horizon of one to three years; Low duration
 funds have a time horizon of six months to 12 months. Banking and PSU funding invest
in banks and the public sector undertakings.
• Hybrid funds: The subcategories of hybrid funds include conservative hybrid funds,
balanced hybrid funds, aggressive hybrid funds, dynamic asset allocation and multi
asset allocation funds, arbitrage funds, and equity savings funds. While dynamic asset
allocation funds invest in equity and debt in a dynamic manner and offer stable
returns, aggressive hybrid funds invest 65 to 80 percent in equity and 20 percent in
debt over a five-year time horizon. Multi asset allocation funds include three asset
classes: equity, debt, gold, and international securities. For investors who are aware of
the advantages and disadvantages of each asset class, 10% of assets should be
allocated to each of these three asset types and it is appropriate for investors who are
familiar with the benefits and drawbacks of each asset class. Equity saving funds is
suitable for moderate investors and which includes investment in equity of 65 % and
debt of 10% and other asset classes.

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 to the
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. CRISIL, was the first credit rating agency in India,
introduced in 1988 by the ICICI and UTI jointly with share capital coming from SBI, LIC and
United India Insurance Company. CRISIL rating for mutual funds allows investors to compare
and evaluate the best performing funds in the market at any given point of time. The agency
evaluates mutual funds on two types of parameters that include qualitative and quantitative.
In short, it covers the hard factors and the soft factors too. A credit rating or score is assigned
to any entity that wants to borrow money—an individual, a corporation, a state or provincial
authority, or a sovereign government. Credit scoring models generally look at how late your
payments were, how much was owed, and how recently and how often you missed a payment.
Crisil is an Indian analytical company providing ratings, research, and risk and policy advisory
services and is a subsidiary of an American company.

Insurance:

An insurance contract (policy) is a legal agreement wherein an insurer indemnifies another

party for losses resulting from particular calamities or dangers. Insurance coverage come in a
variety of forms. The most prevalent types of insurance are life, health, homeowners, and
auto. The deductible, policy limit, and premium are the three main elements that make up
the majority of insurance contracts. In order to make payments to the insured more
manageable, the company pools the risks of its clients. Insurance plans are used to protect
against the possibility of monetary losses, large and small, resulting from harm to the insured
person or her property or from liability for harm or damage to a third party. Businesses need
customised insurance policies that protect them against the various dangers that they face by
a particular business. The policy limit is the maximum amount an insurer will pay under a
policy for a covered loss.

Fixed Deposit:

A Fixed Deposit (FD) is an investment product offered by banks and NBFCs to their customers.
An FD promises you guaranteed returns that are calculated based on the interest offered at
the time of opening an FD Account. Interest rates may differ depending upon the tenure and
amount you are opting for. In a Fixed Deposit, you put a lump sum in your bank for a fixed
tenure at an agreed rate of interest. At the end of the tenure, you receive the amount you
have invested plus compound interest. It is a type of an account opened with a bank where
an assured rate of interest is paid for keeping the funds for a particular period. Fixed Deposits
are an easy way to earn returns from funds that are lying idle. FDs are also called term
deposits. Interest rates tend to be for a longer time.

Compounded annual growth rate (CAGR):

The annual increase of our investments over a given time period is known as compound
annual growth rate, or CAGR. It is a measurement of the annual return on our investments
over a specific time period. This is one of the most accurate ways to determine how our
investment returns will change over time. CAGR informs us compounded returns we receive
annually, regardless of how well the fund has performed each individual year. This is due to
the fact that the growth of the investments varies from year to year. We might get strong
returns in some years while seeing lower returns in other years. In actuality, it is also
conceivable to experience a loss. CAGR gives us information on the yearly average returns that
a fund has generated over a specific period of time. This rate of return is not accurate. Instead,
it is a graphical representation of how much our investments would grow if they increased at
the same pace each year. CAGR is a very helpful formula for estimating an investment's growth
rate. It can be used to evaluate the past returns or estimate the future returns of our
investments. However, remember that CAGR works suitably for lumpsum investments. In case
of Systematic Investment Plans (SIP), it does not take the periodic investments into account
as it only considers the initial and final values for the calculation.

Non-Banking Financial Company (NBFC)

Non-Banking Financial Company (NBFC) is a company registered under the Companies Act,
1956 engaged in the business of loans and advances, acquisition of
shares/stocks/bonds/debentures/securities issued by Government or local authority or other
marketable securities like leasing, hire-purchase, insurance business, chit business but does
not include any institution whose principal business is that of agriculture activity, industrial
activity, purchase or sale of any goods (other than securities) or providing any services and
sale/purchase/construction of immovable property. A non-banking institution is a company
and has the principal business of receiving deposits under any scheme or arrangement in one
lump sum or in instalments by way of contributions or in any other manner, is also a non-
banking financial company.

Supplemented concepts:

Sensex:

The Sensex is a stock market index in India that represents the performance of the top 30
companies listed on the Bombay Stock Exchange (BSE). It is one of the key stock market indices
in India and is widely used to assess the overall health and direction of the Indian stock market.
The term Sensex was coined by Deepak Mohoni, a stock market analyst in 1989. BSE Sensitive
Index then was at about 750 points. It is India's first equity index to be released. Over the last
ten years, the Sensex's CAGR has been 10%.
Nifty:

Nifty is a term commonly used in the Indian stock market to refer to the National Stock
Exchange, which is the benchmark stock index of the National Stock Exchange of India (NSE).
It represents the top 50 companies listed on the NSE based on market capitalization. The Nifty
index is used to gauge the overall performance of the Indian stock market and is considered a
key indicator of the market's direction. It provides investors and traders with a snapshot of
the stock market's health and helps them make investment decisions. The Nifty is calculated
using the free-float market capitalization weighted methodology, where the level of the index
reflects the total market value of all the stocks in the index relative to a particular base period.
Changes in the stock prices of the constituent companies of the Nifty and the number of
shares issued by those companies affect the value of the index. Investors and traders often
track the Nifty to monitor the general trend of the Indian stock market and to benchmark the
performance of their own portfolios. It is also used as a basis for derivative instruments like
index futures and options, which allow market participants to take positions on the Nifty's
future movements.

SEBI:

SEBI stands for the Securities and Exchange Board of India. It is the regulatory authority in
India that oversees the securities market, including stock exchanges, brokers, and other
intermediaries. SEBI was established in 1988 as an independent statutory body to protect the
interests of investors and promote the development of the securities market.

The primary objectives of SEBI are as follows:

Investor Protection: SEBI works to safeguard the interests of investors by ensuring fair and
transparent dealings in the securities market. It formulates regulations to prevent fraudulent
and unfair trade practices and takes actions against entities involved in such activities.

Regulation and Oversight: SEBI regulates various entities operating in the securities market,
including stock exchanges, brokers, depositories, mutual funds, credit rating agencies, and
other intermediaries. It sets rules and guidelines to maintain the integrity and efficiency of
the market.
Development of the Securities Market: SEBI promotes the growth and development of the
securities market in India. It introduces reforms and initiatives to enhance market liquidity,
efficiency, and transparency. SEBI also encourages the participation of small investors and
promotes investor education.

Supervision and Enforcement: SEBI monitors the activities of market participants and ensures
compliance with securities laws and regulations. It has the power to conduct investigations,
audits, and inspections of intermediaries to maintain market integrity. SEBI can take
disciplinary action against those found in violation of the regulations. SEBI plays a crucial role
in maintaining investor confidence and fostering a well-regulated securities market in India.
Its efforts are aimed at creating a fair and transparent environment for investors and
promoting the growth of the Indian capital market.

AMFI: AMFI stands for Association of Mutual Funds in India. It is the industry association of
mutual funds in India, established in 1995. AMFI's primary objective is to promote and
develop the mutual fund industry in India by adopting the best industry practices and ethical
conduct. It represents the interests of mutual fund companies, Asset management
companies, and other stakeholders in the mutual fund industry.

AMFI plays a crucial role in the regulation and promotion of mutual funds in India. Some of its
key functions include:

Setting industry standards: AMFI formulates and maintains ethical standards and best
practices for the mutual fund industry in India. It aims to ensure transparency, investor
protection, and fair practices among mutual fund companies.

Investor education: AMFI promotes investor education and awareness about mutual funds
through various initiatives. It conducts investor education programs, disseminates information
about mutual funds, and encourages investors to make informed investment decisions.

Interacting with regulators: AMFI acts as a bridge between mutual fund companies and
regulatory bodies such as the Securities and Exchange Board of India (SEBI). It represents the
industry's views and provides feedback to regulators on various policy matters.
Training and certification: AMFI conducts training and certification programs for mutual fund
distributors and professionals. These programs help to enhance the knowledge and skills of
distributors, ensuring they provide suitable investment advice to investors.

Research and data dissemination: AMFI collects and disseminates industry data, statistics,
and research reports to its members and stakeholders. This helps in analysing market trends,
performance, and investor behaviour, contributing to the development of the mutual fund
industry. Overall, AMFI plays a pivotal role in fostering growth, ensuring investor protection,
and maintaining the integrity of the mutual fund industry in India.

IRDAI: IRDAI stands for the Insurance Regulatory and Development Authority of India. It is an
autonomous and statutory body that regulates and promotes the insurance industry in India.
IRDAI was established in 1999 by the Insurance Regulatory and Development Authority Act,
1999.The primary role of IRDAI is to protect the interests of policyholders and ensure the
orderly growth and development of the insurance sector in India.

Some of the key functions of IRDAI include:

Granting licenses to insurance companies: IRDAI grants licenses to insurance companies to

operate in India. It sets the eligibility criteria and regulates the entry of new insurers into the
market.

Regulating insurance products: IRDAI regulates the terms and conditions of insurance
policies, including premium rates, policy benefits, and terms of coverage. It ensures that the
insurance products are fair, transparent, and in line with the interests of policyholders.

Protecting policy holders interests: IRDAI safeguards the interests of policyholders by

ensuring that insurance companies maintain financial stability, fulfill their contractual
obligations, and provide prompt and fair settlement of claims.

Promoting market competition: IRDAI promotes competition in the insurance industry and
prevents unfair practices. It ensures a level playing field for all insurers and encourages
innovation and customer-centric approaches.

Developing the insurance market: IRDAI plays an active role in developing the insurance
market in India. It promotes the expansion of insurance services to rural areas, encourages
the use of technology in insurance operations, and facilitates the growth of new insurance
products and distribution channels. Overall, IRDAI acts as a regulator, supervisor, and
promoter of the insurance sector in India, working towards maintaining stability, transparency,
and consumer protection in the industry

This Internships will be incredibly valuable experiences for my learning and professional
development. Here are some learnings that I learnt during internship:

Excel: Here, we are assigned to take data from various websites and segregate it district wise.
As we have studied excel in the first semester. It really helped me to complete the task within
the given time The skills to work with the MS Excel were very useful and those tricks helped
to retrieve appropriate data from a given database.

Organizational behaviour: In terms of ethics, we have learned a lot and become more
responsible and accountable.
 Chapter IV

Summary of Learnings & Recommendations

Reflections and Key Learnings

By this I gained insight into my abilities, capacities, capabilities, and skills while also
experiencing what it's like to be a professional. Throughout my time as a trainee, they
encouraged and inspired me to learn as much as I could. I was able to accomplish my goal.
Because of this instruction, I am now more committed to my knowledge-based studies today
because of this training. I was motivated to produce more leads in a short period of time. An
internship is a unique form of educational opportunity. Along with the fundamentals of
working life, I've learnt the soft skills necessary for a successful professional career. I must start
by mentioning the importance of teamwork. Here, it is done in a more professional manner,
and each member of the team have cooperated to complete the assignment.

In terms of work ethics, I have learned a lot. My internship experience has also helped me to
become more responsible and accountable for the choices I make and the way I carry out the
tasks that have been given to me. The most crucial skill I picked here was time management.
I also received extensive understanding about Mutual Funds Distribution and how the mutual
fund industry truly operates. In this internship programme, I've developed my presentation
and negotiation abilities. Along with these skills, I've learnt how to talk to clients, pitch sales,
hit goals, and offer customer support.

I am grateful for this training because it taught me how to manage limited resources. The
training has given me more confidence, which has improved my ability to work in the future.
It motivated me to put in more effort and try harder in all I do. My SIP Training will help me in
any future work as an employee.

Briefly learnt about the roles and responsibilities, and qualifications of Fund Manager, Unit
manager, Distributors and clients. Difference between insurance and mutual fund. Upfront
and Trial commission structure. Various financial products other than mutual fund such as
Loans against MF, Equity, ETF, PMS and NPS. These products also provide many benefits with
good returns and profit. Got to know about the role of AMC companies and familiarized with
many companies. Learnt about the basics such as large cap, mid cap and small cap, SIP, SWP,
STP, and lumpsum and how to calculate the good interest rate schemes based on inflation
level. Advantages of investing in Mutual Fund. They're professional management, Risk
diversification, affordability, low costs, well regulated and flexible. Learnt about the
importance of investing in SIPs, and about various other funds such as Infrastructure funds,
value funds, Balance funds and Business funds.

We also attained some practical knowledge such as how to approach a person in tele calling,
how to do sales pitch, and went to various districts to source leads from different institutions,
and to open e-wealth account. I gained client-facing knowledge. Discovered how to generate
leads. Knowledge of NJ’s operations. Learnt about the advantages of becoming a partner with
NJ Wealth. Learned about the business, its services, goods, and work being done by each
department. Learned how to converse in partners, how to create E-wealth account and the
ways in which partners are joining NJ Wealth and their expectations of the business. The
various insurance options available and how NJ offers it to their clients. Documents mandatory
for opening E-Wealth Account What are the expectations of the company from their
customers and how to ask our queries to their customer care.

Recommendations:

Through this SIP, many lessons have been learned, but there are still some recommendations
that might be helpful for future improvements. The following are a few suggestions that might
be made:

• NJ company needs to extend its operations in several places.

• In order to expand operations and better connect with the general public, the company
must hire more personnel.
• Direct communication with the partners was not anticipated; instead, all meetings
were conducted online. The genuine behavioural views of distributors may come out
in this one-on-one conversation, which would be quite helpful in knowing more about
them. We can save time by approaching the right people, and we can only achieve this
through this interaction.
• In India, only 4.2 percent of people have any awareness about mutual funds. The
mutual fund business needs to take concrete steps, such allocating campaigns,
employing digital marketing techniques to illustrate the advantages with concrete
 examples, and showing the actual return on investment. This makes it possible to
advertise the business and hire numerous distributors at once.
• Most people think that a non-banking financial corporation (NBFC) cannot accept fixed
deposits or issue loans against assets. Only a small number of businesses, like NJ
Investments India Pvt LTD, are utilising these possibilities. Therefore, in order to reach
the largest possible audience, financial goods from companies like these must be
promoted and advertised at a high level.
References

https://www.amfiindia.com/indian-mutual

https://www.njwealth.in

https://www.scribd.com/document

https://tracxn.com/d/companies

https://www.sebi.gov.in/

https://irdai.gov.in/

https://www.njindiaonline.in/pdesk/login.fin?cmdAction=login

https://www.crisil.com