Motilal Oswal Securities Ltd. Summer Internship Report

MOTILAL OSWAL SECURITIES LTD.
PROJECT REPORT
ON
AS SUMMER TRAINEE
IN
SUBMITTED TO:
HEMCHANDRACHARYA NORTH GUJARAT UNIVERSITY,
PATAN
IN THE PARTIAL FULFILMENT OF THE TRAINING

PROJECT IN M.B.A. PROGRAMME
SUBMITTED BY:
MAHESH.J. RAVAL
UNDER THE GUIDANCE OF:
Mr.Maheshbhai Makawana Prof. K.K.Patel

Motilal Oswal Securities Ltd. S.K.S.B.M, Patan.
S.K.S.B.M. PATAN 1
DECLARATION
I, Mr. Mahesh. J. Raval do hereby declare that the project report titled
“Awareness about company fixed Deposits” is a genuine research
work undertaken by me and it has not been published anywhere
earlier.
Date:
Place:
Mahesh. J. Raval
SKSBM, Patan.
S.K.S.B.M. PATAN 2
Mr. Maheshbhai Makawana

Product Head (MF),
Motilal Oswal Securities Ltd
CERTIFICATION BY THE ORGANIZATION
This is to certify that Mr. Mahesh. J. Raval in M.B.A at Sevantilal

Kantilal School of Business Management, Patan has worked under my
supervision and guidance on him dissertation entitled “Awareness
about Company Fixed Deposits” at Motilal Oswal Securities Ltd.,
Mehsana from May 17th 2009 to July 20th 2009. ” To the best of my
knowledge this is an original piece of work.
S.K.S.B.M. PATAN 3
Prof.
S.K. School of Business Management,
Patan.
CERTIFICATION BY THE FACULTY GUIDE
This is to certify that the project report entitled “Awareness about

Company Fixed Deposits” at Motilal Oswal Securities Ltd., Mehsana,
is a bonafide record of work done by Mr. Mahesh. J. Raval, and
submitted in partial fulfillment of the requirements of M.B.A program
of Sevantilal Kantilal School of Business Management, Patan.
S.K.S.B.M. PATAN 4
PREFACE
It is true that the world outside your cozy home is many a time
quite different from what you have perceived. Similarly, it is
possible that the theoretical knowledge acquired in the classroom
may differ from the practical knowledge.
In order to make an individual aware of the practical implication

of what he has learned. He is enriched with the practical training. I
as a student of M.B.A. got this opportunity to know what is actually
happening in a company. The main areas covered during the
training period are: Marketing department, HR department,
Financial department, Customer care department and Technical
department,
I have taken training at Motilal Oswal Securities Ltd. I have

sincerely acquired all the necessary information for my project
report during my training period. I hope that this report will satisfy
the object requirement.
S.K.S.B.M. PATAN 5
ACKNOWLEGDEMENT
Sometimes words fall short to show gratitude, the same happened

with me during this project. The immense help and support received
from Motilal Oswal Securities Ltd overwhelmed me during the
project.
My sincere gratitude to Mr. Maheshbhai Makawana Product Head

for providing me with an opportunity to work with Motilal Oswal
Securities Ltd.
I am highly indebted to Mr. Jay.K.Oza and Mr. Jay.S.Pandya,

company project guide, who has provided me with the necessary
information and his valuable suggestion and comments on bringing
out this report in the best possible way.
I am grateful to Mr. Vijaybhai Patel (Branch Head, Motilal Oswal

Securities Ltd) and all of the members of mass consultancy, who have
helped me in the successful completion of this project, special mention
of Mr. Kiranbhai Patel, Mr. Parthbhai Raval, Mr.Vishalbhai Patel,
Mr.Sanjaybhai Patel and Mr.Hirenbhai Patel. I also thankful to my
peers, Palkesh Prajapati, Dimes Panchal , Dipak Prajapati and
Priyanka Contractor who help me to complete this project on time.
I also thank Prof.K.K.Patel, faculty guide, SKSBM, Patan who has

sincerely supported me with the valuable insights into the completion
of this project.
Last but not the least; my heartfelt love for my parents, whose
constant support and blessings helped me throughout this project.
S.K.S.B.M. PATAN 6
EXECUTIVE SUMMARY
This project has been a great learning experience for me; at the same
time it gave me enough scope to implement my analytical ability. This
project as a whole can be divided into two parts:
 The first part gives an insight about the Fixed Deposit and its
various aspects. It is purely based on whatever I learned at
Motilal Oswal Securities Ltd. One can have a brief knowledge
about Fixed Deposit and all its basics through the project. Other
than that the real servings come when one moves ahead. Some
of the most interesting questions regarding Fixed Deposit have
been covered. Some of them are: why has it become one of the
largest financial intermediaries? How investors do choose
company to invest in Fixed Deposits? Most popular stocks
among fund managers, most lucrative sectors for fund
managers, a special report on Fixed Deposit, does fund
performance persists and the topping of all the servings in the
form of portfolio analysis tool and its application.
All the topics have been covered in a very systematic way. The
language has been kept simple so that even a layman could
understand. All the data have been well analyzed with the help
of charts and graphs.
S.K.S.B.M. PATAN 7
 The second part consists of data and their analysis, collected

through a survey done on 116 people through questionnaires. It
covers the topic “Awareness about Company Fixed Deposits”.
The data collected has been well organized and presented. Hope
the research findings and conclusions will be of use. It has also
covered how many times people prefer to invest their money and
about which group of people invest their money in fixed deposits
I learn lost of things and quality of manager with practical

experience.
Mahesh Raval
S.K.S.B.M. PATAN 8
SR.NO PARTICULARS PAGE

NO
1 Declaration
2 Certification By The Organization
3 Certification by the Faculty Member
4 Preface
5 Acknowledgement
6 Executive Summery
7 Background Of Company
7.1 Corporate Profile
7.2 Vision & Value of MOSL

7.3 History & Milestones
7.4 Testimonials
7.5 Organization Profile
7.6 MOSL & Subsidiaries Companies
7.7 Services providing by MOSL
7.8 About The Fixed Deposits
7.9 Types Of The Fixed Deposits
7.10 Bank Fixed Deposits
7.11 Company Fixed Deposits
7.12 Types Of Company Fixed Deposits
7.13 Investment Objectives
7.14 Investment Drawbacks
7.15 How Can Invest In Company Fixed
Deposits
7.16 Objectives of The Fixed Deposits
7.17 Benefits of The Fixed Deposits
7.18 Drawbacks of The Fixed Deposits
8 Data Analysis of Questionnaire &
Interpretation
8.1 Objectives of The Research
8.2 Scope Of The Study
8.3 Data Sources
8.4 Sampling
8.5 Methodology
S.K.S.B.M. PATAN 9
8.6 The Respondents of Questionnaire

9 Questionnaire
10 Data Analysis & Interpretation
11 SWOT Analysis
12 Research Findings & Conclusion
13 Recommendations
14 Bibliography
S.K.S.B.M. PATAN 10
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S.K.S.B.M. PATAN 11
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S.K.S.B.M. PATAN 12
S.K.S.B.M. PATAN 13
CORPORATE PROFIL
Motilal Oswal Securities Ltd. (MOSL) was founded in 1987 as a small

sub-broking unit, with just two people running the show. Focus on
customer-first-attitude, ethical and transparent business practices,
respect for professionalism, research-based value investing and
implementation of cutting-edge technology has enabled us to blossom
into an almost 2000 member team.
Today company is a well diversified financial services firm offering a

range of financial products and services such as
 Wealth Management
 Broking & Distribution
 Commodity Broking
 Portfolio Management Services
 Fixed Deposits and Bonds
 Institutional Equities
 Private Equity
 Investment Banking Services and
 Principal Strategies
Company has a diversified client base that includes retail customers

(including High Net worth Individuals), mutual funds, foreign
institutional investors, financial institutions and corporate clients.
Company’s headquarter is in Mumbai and as of March 31st, 2009,
had a network spread over 548 cities and towns comprising 1,289
Business Locations operated by its Business Partners and it. As at
March 31st, 2009, company had 5, 41,372 registered customers.
In 2006, the Company placed 9.48% of its equity with two leading
private equity investors based out of the US – New Vernon Private
Equity Limited and Bessemer Venture Partners.
The company got listed on BSE and NSE on September 9, 2007. The
issue which was priced at Rs.825 per share (face value Rs.5 per share)
got an overwhelming response and was subscribed 27.18 times in
S.K.S.B.M. PATAN 14
turbulent market conditions. The issue gave a return of 21% on the

date of listing.
As of end of financial year 2008, the group net worth was Rs.7 bn and
market capitalization as of March 31, 2008 was Rs.19 bn.
For year ended March 2008, the company showed a strong top line
growth of 91% to Rs.7 bn as compared to Rs.3.68 bn, last year. New
businesses like investment banking, asset management and fund
based activities have contributed to this growth.
Credit rating agency Crisil has assigned the highest rating of P1+ to
the Company’s short-term debt program.
Motilal Oswal Financial Services Limited is the holding company of

the following five subsidiaries:
CHART- 1
S.K.S.B.M. PATAN 15
Vision & Values of Motilal Oswal Securities Ltd.
 Vision :
S.K.S.B.M. PATAN 16
 Values(Mission):
Integrity A company honoring commitment with highest

ethical and business practices
Team Work Attaining goals collectively and collaboratively
Meritocracy Performance gets differentiated, recognized

and rewarded in an apolitical environment
Passion & Attitude High energy and self motivated with a “Do It”
attitude and entrepreneurial spirit.
Excellence in Time bound results within the framework of

Execution the company’s value system
S.K.S.B.M. PATAN 17
HISTORY & MILESTONES
The story of Motilal Oswal Securities Ltd (MOSL) goes back

many years, when Mr. Motilal Oswal and Mr. Raamdeo Agrawal met
each other as students in a Mumbai suburban hostel in the early
eighties. Both the young chartered accountants hailing from a rural &
an unpretentious background had a common dream viz. 'to build a
professional organization with strong value systems, to provide
reliable & honest investment advice to investors'. Thus was born their
first enterprise called "Prudential Portfolio Services" in 1987.
2009
• Motilal Oswal Securities Ltd. enters 'Limca Book of Records' for
creating India's largest dealing room in Mumbai
• MOSL was 'Rated No.1 – Best recommendations Mid & Small Caps'
and won awards in 3 out of 4 categories at the Starmine India
Broker Rankings 2009 from Thomson Reuters
2008
• MOSL awarded the prestigious Nasscom - CNBC TV 18 IT User
Award - 2008
• MOSL awarded 'The Best Franchisor in Financial Services' by
Franchisee World Magazine 2008 for the second consecutive
year
• MOSL creates one of India's largest Equity Dealing & Advisory
rooms; spread over 26,000 sq ft in Malad, Mumbai
• Motilal Oswal's India Business Excellence Fund raised USD 125
million, 25% higher than the initial target of USD 100 million
• D & B survey rates MOSL as India's top Broking House in terms
of total number of trading terminals
• MOSL alliance with IDBI Bank to offer Online Trading Services
• Asia Money Brokers poll 2007 rates Motilal Oswal Securities
Ltd. - Best Overall Country Research - Local Brokerage
S.K.S.B.M. PATAN 18
2007
• The Strategic partnership between MOSL and SBI - EZtrade -
reaches an important milestone i.e. in less than a year it has
managed to sign up more than 10,000 customers
• Starts Knowledge First campaign
• Motilal Oswal was perceived as the most Research driven stock
trading player - Starcom Mediavest Survey
• Introduces a separate brand for Private Client Group - Purple
• Motilal Oswal Commodities Broker Pvt Ltd (MOCBPL) bagges
Globoil India's prestigious 'Outstanding Commodity Broking
House 2007' Award
• Motilal Oswal Financial Services ltd. gets listed on the BSE &
NSE
• Mr. Motilal Oswal - Chairman and Managing Director has been
appointed as a member of the Managing Committee of Indian
Merchant Chambers.
• Motilal Oswal Financial Services Ltd files RHP with SEBI for an
IPO
• Motilal Oswal Financial Services Ltd. features as a case study in
Harvard Business School
• Motilal Oswal Financial Services Ltd ties up with Punjab
National Bank to offer online trading to its customers
2006
• Organizes the second India Conference with Bear Stearns New York
featuring discussion panels and presentations by prominent business
leaders and senior management of Indian companies in banking,
technology, healthcare, consumer, oil and gas, infrastructure and
other key sectors.
• Launches the India Business Excellence Fund (IBEF), a US$ 100 mn
India focused Private Equity Fund.
S.K.S.B.M. PATAN 19
• Investment Banking business advises Aban in their majority

controlling stake of Sinvest ASA – one of the largest investment
banking deals of 2006.
• Places 9.29% with two leading private equity investors - New Vernon
Private Equity Limited and Bessemer Venture Partners.
• Issues 14% of companies equity to employees as ESOPs.
• Acquires a leading south Indian brokerage firm - Peninsular Capital
Markets. Also acquires 3 more brokerage firms in UP and Gujarat.
• Enters Private Equity and Investment Banking businesses.
• Value PMS gives 390% returns to its investors between Feb 2003
and March 2006.
• Relaunches its e-Broking service through a nationwide campaign.
First advice-based online trading proposition in the Indian markets.
• Another milestone in distribution – over 1000 outlets, over 375
cities, serving over 1, 75,000 customers.
• Employee base crosses 2000 and Business Associate base crosses
1000.
2005
• Organizes the first India Conference with Bear Stearns in New York.
India’s largest such conference of its kind in the US.
• Asia money Brokers Poll 2005 rates Motilal Oswal Securities - Best
Local Brokerage, MOSL Independent Research House, Best in Sales
and Service.
• Launches two new Portfolio Management Schemes - Value Hedging
for derivatives and Discover Value for the Rs. 5 lakh to Rs. 50 lakh
category.
S.K.S.B.M. PATAN 20
• Acquires local brokerage Gayatri Capitals from Andhra Pradesh and

Varghese from Karnataka.
• Deepest distribution in the stock broking segment with 700 outlets
in 320 cities and 1, 20,000 customers.
2004
• Presence expanded to 270 outlets in 150 cities and 20 states.
• Value PMS delivers a whopping 160% post tax returns for the period
ended April
• Bulls Eye PMS - A momentum based PMS launched.
• Start of the Solid Research Solid Advice campaign.
2003
• Enters the mutual fund and IPO distribution business.
• MOSt Portfolio Management Services launched with Mr. Raamdeo
Agrawal as the Portfolio Manager. Uniquely structured performance
related fees.
• Inquire team is successful in capturing the uptrend in Banking, Auto
and Infrastructure sectors.
• Received the Asia Money award for the Best Overall Domestic
Research House-Mega funds.
• Crossed 15,000 Depository accounts.
• 9 own branches setup at 7 cities to provide Equity Advisory Services.
More in the pipeline.
• 150 outlets in 110 cities across 18 states & one Union Territory in
India manned by 1000 people servicing over 15,000 Retail and
Institutional Investors.
S.K.S.B.M. PATAN 21
2002
• Mr. Navin Agarwal, Head of Equity Research & Institutional sales,
inducted in the Board of Directors.
• MOSt consolidates its retail operations & upgrades its IT / Back
Office infrastructure to cater to its growing network of branches,
Franchisees and Channel Partners.
• Received the Asia Money Award - 2nd best among Indian Brokerage
firms.
• Retail network completes coverage of 100 cities in India.
• Direct servicing of HNI clients is initiated.
• Crosses 10,000 Depository accounts.
2001
• Legendary marketing guru Shunu Sen’s services taken to revitalise
retail marketing strategy and branding efforts.
• Starts offering Derivatives products and advisory services on both
BSE as well as NSE.
2000
• Received the Asia Money award for the Best Domestic Equity house.
• Both Mr. Motilal Oswal and Mr. Raamdeo Agrawal receive Rashtriya
Samman Patra from Central Board of Direct Taxes for being amongst
the top 50 tax payers in India from FY94-FY98.
S.K.S.B.M. PATAN 22
• Acquires its 100th Franchisee / Channel Partner and emerges as a

leading player in the Indian Broking Sector.
• Becomes a Depository Participant of Central Depository Services
Limited (CDSIL).
1999
• Mr. Raamdeo Agrawal starts attending legendary billionaire investor
Warren Buffett’s Annual General Meetings of Berkshire Hathway Inc.
He still continues to attend it every year.
• The Wealth Creation Study started in 1996 culminates into Wealth
Creation Seminar and Awards function in 1998.
• First Stock Broking house to brand its services as a research and
advice based broker.
• “Wealth Creation” Campaign started.
• www.MotilalOswal.com launched. First broking house in India to go
on the web.
• Becomes a Depository Participant of National Securities Depository
Limited (NSDL).
• Inducts Mr. Ivan Mathias, former country head of Watson Wyatt
Worldwide, on its Board to Directors to shape HR initiatives.
1998
• Mr. Motilal Oswal joins the Governing Board of The Stock Exchange,
Mumbai.
S.K.S.B.M. PATAN 23
1996
• Wealth Creation Study started. First of its kind study initiated to
identify biggest and fastest wealth creating companies in Indian Stock
markets.
1995
• “Motilal Oswal” gets incorporated as Motilal Oswal Securities Ltd.
1994
• MOSt acquires NSE Membership and plans for major expansion of
its retail network.
• Inquire (Indian Equity Research) is formally created at a 2500 sq. ft
office in South Mumbai with bigger and better quality infrastructure
than the corporate office. Since then nearly 20% of revenue is
allocated to research. First Domestic Stock broking house to have such
a strong Research focus.
• “Motilal Oswal” enters Institutional Broking business.
1990
• After just three years in the business, “Motilal Oswal” is formed
through acquisition of membership on The Bombay Stock Exchange
(BSE). Three more memberships taken in later years.
1987
• Mr. Motilal Oswal and Mr. Raamdeo Agrawal lay the foundation of a
great partnership by starting a sub-broking firm. The venture stands
out from the rest due to their approach of Research-based broking
even when sub-brokers.
S.K.S.B.M. PATAN 24
TESTIMONIALS
"I have glanced through the 11th Wealth Creation Study and it indeed
is informative."
-Mr.Raymond N. Bickson
Managing Director, The Indian Hotels Company Ltd.
These (Wealth Creation) reports have become handy reference guides

to corporate performance. I find them very useful indeed
-S M Datta
Peerless General Finance & Investment Co. Ltd.
"Firms like Motilal Oswal are playing a very major role of taking the
equity cult deep into the rural areas through presence in 4000
terminals throughout the country in electronic trading".
-Shri Prithviraj Chavan,
Minister of State in the Prime Ministers Office,
Government of India,
At the Bear Sterns 2nd Annual India Conference,
September 2006
“Motilal Oswal is embarking on a path to become a full-fledged

financial powerhouse.”
-Business India
“Motilal Oswal Securities is the most successful brokerage house ever.

Research was their forte and today providing research backup to
brokerage clients has become a part of the game for all brokerage
houses of repute. Motilal Oswal Securities has been rated as the best
in research by AQ research of UK in March 2006”
-Hindustan Times
“Sheer hard work, focused research and consistent and logical
investment philosophy is what sets apart companies like Motilal
S.K.S.B.M. PATAN 25
Oswal. They have risen to the top because of their single-minded focus
on investment philosophy and did not deviate despite swings in the
market.
Therein lies a lesson. If they can do it, so can others. Never try to
reinvent the wheel; follow the leader and you have plenty of them in
the Indian market.”
-Sandeep Shenoy,
Strategist, Pioneer Intermediaries
"I am sure you will take care of my investments while I am out . . .

Your Relationship Manager's understanding is good and is capable of
showing good results. We did 40% thereabouts over last quarter
compared to 30% through my equity mutual fund. So keep it up and
remember we have to grow at least 30% next quarter".
-An EAG Client
“One can define the service of Motilal Oswal Securities as: To give real
service you must add something which cannot be bought or measured
with money; and that is sincerity and integrity followed by dedicated
support from all departments of the office".
-A Business Associate
S.K.S.B.M. PATAN 26
ORGANIZATION PROFILE
Mr. Motilal Oswal

Chairman and Managing Director
Mr. Motilal Oswal is the promoter of Motilal

Oswal Securities Ltd. He is a member of
Institute of Chartered Accountants of India and
started the business along with the co-promoter
Mr. Raamdeo Agarwal in 1987.Business Administration is his forte,
Honesty, transparency and client goodwill form the core of his
business practice.
“Service is required in everything, in research, in execution and in

settlement. It is going to be the key to survival. If you give good service
and value to your clients, it ill translates into good business.”
This has been a strong belief of Mr. Motilal Oswal and he has not only
practiced it himself but also made efforts to inculcate similar values in
the employees of the organization.
He had been elected as a Director of BSE and joined its governing

board in 1998. He is currently a member of various committees of
CDSIL and SEBI. He is currently a member of the NSE committee for
F&O.
S.K.S.B.M. PATAN 27
Mr. Raamdeo Agrawal

Joint Managing Director
Mr. Raamdeo Agrawal is the man behind the strong research

capabilities at Motilal Oswal Financial Services Ltd. He is an Associate
of Institute of Chartered Accountants of India and also a member of
the National Committee on Capital Markets of the Confederation of
Indian Industry.
Mr. Agrawal specialises in equity research. He has been authoring the

annual Motilal Oswal Wealth Creation Study since its inception in
1996. In 1986, he wrote the book ‘Corporate Numbers Game’, along
with co-author, Mr. Ram K Piparia. He has also featured on 'Wizards
of Dalal Street on CNBC TV 18'.
Mr. Agrawal has received the "Rashtriya Samman Patra" awarded by

the Government of India for being amongst the highest Income Tax
payers in the country for a period of 5 years from FY95–FY99.
S.K.S.B.M. PATAN 28
Mr. Navin Agrawal

Director
Mr. Navin Agarwal is on the Board of Motilal Oswal Financial Services

Limited. He is a member of Institute of Chartered Accountants of
India, Institute of Cost & Works Accountants of India, and Institute of
Company Secretaries of India.
He heads the Institutional Broking business and has been

instrumental in building a market leading position with domestic and
foreign institutional investors. Under his leadership, the firm has been
rated as The Best Indian Brokerage House by Asia money 2005.
Leveraging on the dominant positioning in institutional business, he
has also been instrumental in building an Institutional Derivatives
business when derivative products were introduced in the Indian
markets. Here again, a market leading position has been established
by MOSL.
Mr.AshutoshMaheshwari
CEO – MOIAPL
Mr. Ashutosh Maheshvari holds a bachelor's degree in technology

(Chemical Engineering) from the Indian Institute of Technology,
Kharagpur. He has also done his Masters in Business Administration
from University of Delhi.
S.K.S.B.M. PATAN 29
Prior to joining our Company, he was the Executive Director with

Rabo India Finance Private Limited.
Mr. Maheshvari has 13 years of experience in the financial sector and

has held various senior positions. Previously, he has worked with
CRISIL and ICI India Limited.
S.K.S.B.M. PATAN 30
Mr.Vishal Tulsyan
CEO - MOPEAPL
Mr. Vishal Tulsyan holds a bachelor's degree in

commerce from St. Xaviers College, Kolkata
University, and is a professionally qualified Chartered Accountant
from The Institute of Chartered Accountants of India. He is an all-
India rank holder in Chartered Accountancy.
Prior to joining MOFSL, Mr. Tulsyan was Director, Corporate Finance

with Rabo India Finance Private Limited, a subsidiary of Rabo bank
International. He has over 10 years of experience in corporate finance
and has held various senior positions.
Previously, he worked with SBI Capital Markets Limited, Mumbai and

ANZ Grind lays Bank Limited, Kolkata
S.K.S.B.M. PATAN 31
Mr.Rajat Rajgarhia
Director – Research
Mr. Rajat Rajgarhia started his career with his family run broking
business in equities.
Post completing his CA and MBA, he joined Indiainfoline for a short

stint in the research function. He joined Motilal Oswal in 2001 as a
research analyst.
Mr. Rajgarhia then went on to head the research team and now has
been associated with MOSL for over 7 years.
S.K.S.B.M. PATAN 32
Mr. Rajesh Dharamshi

Director - Institutional Trading
Mr. Rajesh Dharamshi started his career with Hemendra R Sheth

(Member of BSE & NSE) and went on to a very long stint with group.
He was Head of Institution of HRS from 2000-2002.
He than moved on as Sr. VP - Institution Sales Equity & Derivatives

for Refco (Now MF Global).Mr.Dharamshi joined Motilal Oswal as
Head of Institutional Derivatives in 2003.
He currently heads Institutional Trading (Cash & Derivatives) at

MOSL. He is also a Director on the board of Motilal Oswal
Commodities Broker Pvt Ltd & Motilal Oswal Capital Markets Pvt Ltd.
S.K.S.B.M. PATAN 33
Mr.JayeshParekh
Director - Institutional Sales
Mr. Jayesh Parekh began his career with ICICI as a management

trainee after securing ranks in Intermediate and Final exams of
Chartered Accountancy. After ICICI, he joined Anand Rathi group and
worked in different functions including corporate advisory and equity
research. Post Anand Rathi Securities, he joined SMIFS Securities and
worked for 5 years as head of research.
Mr. Parekh joined Motilal Oswal in 2003. He was rated #1 sales

person for India in the Asia Money Brokers poll for 2 consecutive
years in 2006 and 2007. Mr. Parekh is Head of Institution Sales for
MOSL
S.K.S.B.M. PATAN 34
Mr.ManishShah
AssociateDirector,
BusinessStrategyand
Product Development
Mr. Manish Shah is a graduate from the Institute of Cost and Work
Accountants of India and a Certified Financial Analyst from the
Institute of Chartered Financial Analysts of India.
Mr. Shah had a brief stint with a proprietary firm KG Vora in 1991,
where he was involved in developing the IPO Business. In June 1992,
he joined Info -Invest Group as Research Analyst and later was
responsible for developing the Institutional and Retail business. He
then worked as a manager at Mafatlal Securities Ltd from July 1995.
Mr. Shah joined MOSL in 1999. He currently heads the Equity

business and is also responsible for Business Strategy and Product
Development.
S.K.S.B.M. PATAN 35
Mr.NitinRakesh
CEO, Asset Management Business
Mr. Nitin Rakesh has over 13 years of experience in the Financial

Services industry. His last role was as the CEO and Executive Director
of State Street Syntel Services, the JV between State Street Bank
(NYSE: STT) & Syntel (NASD: SYNT). In addition, he has held various
positions in organizations such as TCG Investments and Unit Trust of
India (UTI Mutual Fund). Mr. Rakesh is a B.E. (Computers), Delhi
College of Engineering & an MBA (Finance), NMIMS, Mumbai.
Mr. Rakesh heads the Asset Management Business.
S.K.S.B.M. PATAN 36
Strong Management Team:-
The organization finds its strength in its team of young, talented and
confident individuals. Qualified professionals carry out different
functions under the able leadership of its promoters, Mr. Motilal
Oswal and Mr. Raamdeo Agrawal. Our talented pool of people
comprises qualified and experienced professionals with an established
track record. We believe that our management's entrepreneurial spirit,
strong technical expertise, leadership skills, insight into
market/customer needs provide us with a competitive strength which
will help us implement our business strategies.
Training & Manpower Development:-

MOSL conducts various training and development programs regularly
to enhance the capabilities of its team. As much as 5% of the salary bill
is spent on such programs, which is amongst the highest for a broking
organization in India. MOSt is truly a learning organization with lead
being taken by the Directors, who regularly participate in top
management learning programs like Strategic Management Program
at Indian School of Business, Hyderabad, Strategy Summits with
Management Gurus like Tom Peters and Dr. Lester Thurow, Dean,
Sloan School of Management, (MIT) and Brand Management Seminar
by Al Ries etc.
Focus on Research:-
Research is the solid foundation on which Motilal Oswal Securities

advice is based. Almost 10% of revenue is invested on equity research
and we hire and train the best resources to become advisors. At
present we have 22 equity analysts researching over 27 sectors. From
a fundamental, technical and derivatives research perspective; Motilal
Oswal's research reports have received wide coverage in the media
(over a 1000 mentions last year). Our consistent efforts towards
quality equity research have reflected in an increase in the ratings and
rankings across various categories in the Asia Money Brokers Poll over
the years.
S.K.S.B.M. PATAN 37
Our unique Wealth Creation Study, authored by Mr. Raamdeo

Agrawal, Managing Director, is now in its 13th year. Investors keenly
await this annual study for the wealth of information it has on the
companies that created wealth during the preceding five years.
Awards and Accolades:-
Motilal Oswal Financial Services has received many accolades in

the year gone by. Some of them are:
 Rated ‘Best Overall Country Research’ for a Local Brokerage in
the 2007 Asia Money Brokers poll
 Rated India’s top broking house in terms of total number of
trading terminals by the Dun & Bradstreet survey
 Rated ‘Outstanding Commodity Broking House-2007’ by Globoil
India
 Ranked second best for Customer Responsiveness in the
Financial Sector at the Avaya Global Connect Customer
Responsiveness awards
S.K.S.B.M. PATAN 38
MOSL & SUBSIDERIES COMPANIIES
 Motilal Oswal Financial Services Ltd.

3rd Floor, Hoechst House,
Nariman Point, Mumbai - 400 021.
Board: + 91 – 022 - 39825500/ 39825540.
Fax: + 91 – 022 - 22823499
 Motilal Oswal Securities Ltd. – Wealth Management

Board: + 91 – 022 - 39825500.
Fax: + 91- 022- 22823499.
 Motilal Oswal Securities Ltd. - Institutional Equity
4th Floor, Hoechst House,

Board: + 91 – 022 - 39825550
Fax: + 91 – 022 - 22883821 / 22885038.
 Motilal Oswal Private Equity Advisors Pvt. Ltd.

Board : + 91–022-39825500/39825540.
Fax : +91–022-22823499.
 Motilal Oswal Investment Advisors Pvt. Ltd.
112/113, 11th Floor, Bajaj Bhawan,
Board : + 91 – 022 - 39804380
Fax: + 91 – 022 - 39804315.
 Motilal Oswal Commodities Broker Pvt. Ltd.
81/82, Bajaj Bhawan,

Board: + 91 – 022 - 39804200/ 01
Fax: + 91 – 022 - 22816161.
S.K.S.B.M. PATAN 39
SERVICES PROVIDING BY MOSL
MOSL’S businesses and primary products and services are:

 Wealth Management
 Broking & Distribution
 Commodity Broking
 Portfolio Management Services
 Fixed Deposits and Bonds
 Institutional Equities
 Private Equity
 Investment Banking Services and
 Principal Strategies
Wealth Management:-
Financial planning for individual, family and business wealth creation
and management needs. These are provided to customers through our
Wealth Management service called ‘Purple’
Broking & Distribution Services:-
 Equity (cash and derivatives)

 Commodity Broking
 Portfolio Management Services
 Distribution of financial products
 Financing
 Depository Services
 IPO distribution
We offer these services through our branches, Business Partner

locations, the internet and mobile channels. We also have strategic tie-
ups with State Bank of India and IDBI Bank to offer our online trading
platform to its customers.
S.K.S.B.M. PATAN 40
Commodity Broking:-
Through Motilal Oswal Commodities Broker (P) Ltd our fully owned
subsidiary; we provide commodity trading facilities and related
products and services on MCX and NCDEX. Besides access to the best
of research in the form of Daily Fundamentals & Technical Reports on
highly traded commodities, our clients also get access to our exclusive
Customized Trading Advice on both the trading platforms. We offer
these services through our branches, Business Partner locations, the
internet and mobile channels
Portfolio Management Services :-
Motilal Oswal Portfolio Management Services offer a range of

investments solutions through discretionary services. We at Motilal
Oswal have helped create wealth for our customers through our
Portfolio Management Services. Our knowledge of the markets
together with our understanding of our customers and their risk
profiles has helped us design a range of portfolio offerings for our
clients. These include the Value Strategy, Bulls Eye Strategy, Trillion
Dollar Opportunity Strategy and Focused Strategy Series I. As of
March 31st, 2009, the Assets Under Management of our various
portfolio schemes stood at Rs.4.77 bn.
Motilal Oswal group has applied to the regulatory bodies for a license
to operate as a Domestic Asset Management Company (Mutual Fund)
and we expect to begin operations soon.
Fixed Deposits and Bonds:-
Motilal Oswal group has worked on fixed deposits and bonds which
have issued by the various companies. Such fixed deposits and bonds
have used by the companies to fulfill their capital needs only. Motilal
Oswal Securities Ltd. has offered safety and securities of the
investment, invested by he investors.Anybody can enter/ exit in/from
the fixed deposit and bonds schemes.
Institutional Equities:-
S.K.S.B.M. PATAN 41
We offer equity broking services in the cash and derivative segments

to institutional clients in India and overseas. These clients include
companies, mutual funds, banks, financial institutions, insurance
companies, and FIIs. As at March 31st, 2009, we were empanelled
with over 300 institutional clients including 200 FIIs. We service
these clients through dedicated sales teams across different time
zones.
Investment Banking:-
We offer financial advisory services relating to mergers and

acquisitions (domestic and cross-border), divestitures, restructurings
and spin-offs through Motilal Oswal Investment Advisors Private Ltd.
(MOIAPL)
We also offer capital raising and other investment banking services

such as the management of public offerings, private placements
(including qualified institutional placements), rights issues, share
buybacks, open offers/delistings and syndication of debt and equity.
MOIAPL has closed 23 transactions in 2007-08 worth US$ 1.8 billion

and had 18 mandates in hand as at March 31, 2008.
Private Equity:-
In 2006, our private equity subsidiary, Motilal Oswal Private Equity

Advisors Private Ltd (MOPEAPL) was appointed as the investment
manager and advisor to a private equity fund, India Business
Excellence Fund, which was launched with a target of raising US$100
mn. The fund is aimed at providing growth capital to small and
medium enterprises in India, with investments typically in the range
of US$3 mn to US$7 mn.
MOPEAPL will manage and advise the fund and other private equity
funds, which may be raised in the future. In its final closing, in
December 2007, the fund obtained commitments of US$125 mn (Rs.4,
875 mn) from investors in India and overseas. The Fund has
S.K.S.B.M. PATAN 42
deployed/ committed $ 58 mn across 8 deals.
MOPEAPL has recently launched an INR 750 crores domestic Real

Estate Private Equity Fund called “India Realty Excellence Fund”
sponsored by Motilal Oswal Financial Services Ltd.
Principal Strategies Group:-
For effective management of treasury operations and to capitalize on

market opportunities, the Group has set up a 30 member team which
would be responsible for effective deployment of funds into different
trading and arbitrage strategies.
ABOUT THE FIXED DEPOSITS
S.K.S.B.M. PATAN 43
Fixed Deposits- Recently popular instrument
Introduction:-
With investment avenues increasing by the day it is quite easy to

forget that until the reforms era kicked off in 1991; Indians had very
limited means of investing their savings. While it is true that we have
not yet seen any development on the lines of the more developed
economies there are a number of instruments today that were unheard
of amidst the lay investors just a short decade ago. On the one hand
investors are still struggling to come to terms with the complex nature
of some securities and on the other intermediaries are trying to raise
the investors' awareness. Stock favorites such as fixed deposits (FDs)
are meanwhile enjoying a renewed burst of popularity.
The slump in the capital markets and the large amounts of losses by
investors in IPOs are but a couple of factors for this hunt for security
by investors, even at the cost of lower returns. The central bank, RBI,
and the market regulator, SEBI, have been attempting to rein in
unscrupulous operators from cashing in on this rush for FDs. In fact,
between 1994 and 1996 a few states like Tamil Nadu saw a literal
explosion of FD offers with promises of impossible returns like 36 per
cent to even 50 per cent per annum in some cases. A number of
gullible investors saw their savings go up in smoke at the hands of
such corporate entities. It is only recently that credit rating has been
made mandatory for FD raising exercises, as were prudential norms.
However, the bitter lesson resulted in investors ignoring almost all

other factors barring security while investing their savings. Thus, the
past two years have seen a huge growth in bank deposits and in the FD
levels of the better segment of India Inc. In this segment, we will
regularly post details on the three main categories of FDs, i.e., with
banks, manufacturing companies and non-banking finance companies
or NBFCs. Investors can find information on various changes that
occur in this sector and details on how government policies could
affect this crucial area. We will also keep investors abreast of interest
S.K.S.B.M. PATAN 44
rates offered and the performance of individual entities in each of the

three above-mentioned segments.
Fixed Deposits, In a world where the returns on your investment are

directly proportional to the inherent risks, it is but natural that the
investor who opts for fixed income instruments is well into his chosen
career. Basic family needs such as an own house and reasonable
insurance cover would have been provided for, but the proximity to
retirement would prompt the need to lower investment risks. Also
returns from investments form the principal source of income and
preservation of capital is paramount.
As is the basic rule in choosing any investment option, here too it is

essential that the investor decides in advance the proportion of
investing in stocks and bonds. Periodic evaluation is equally
important and while necessary changes have to be made, investments
must never be switched for negligible changes in interest rates. For
example if you are receiving say 12.5 per cent per annum through
Bond A, think very hard before you decide to switch over to Bond B
which promises 12.75 per cent or even 13 per cent. The decision to
effect a change between fixed incomes instruments should not be
made lightly as the security of the principal is sacrosanct. Thus
judicious selection of instruments is critical.
Luckily in India there a number of avenues for such investors, with the
most popular forms being:
 Fixed deposits with banks and post offices.

 Fixed deposits with companies.
 Public sector bonds.
 Income-oriented units and growth oriented units.
 Non-convertible debentures of private sector.
 Convertible debentures
 National Savings Certificates.
 Provident Fund contributions.
 Indira Vikas Patras.
S.K.S.B.M. PATAN 45
Provident funds and public provident funds are also excellent areas of
investment and offer both initial and a continuing tax advantage.
There are added benefits such as the existence of a facility for partial
withdrawals, attractive rates of returns and immunity from
attachment of a court decree. If you are on the hunt for a tax-sheltered
current income then give preference to income-oriented units and
public sector bonds as rates of return are more attractive than other
fixed income avenues with similar tax benefits.
Convertible debentures of reputed, profit making companies are also

worth picking up. Such securities are traded lower than the company's
underlying equity. The company pays interest until conversion after
which the investor gets dividend income. If your taxable income is less
than Rs.50, 000 and you have exhausted the limits for various tax-
sheltered investments, non-convertible debentures, Indra Vikas Patras
and corporate fixed deposit schemes would then be your best bet.
Proposition: In the last two or three years the hotel industry has been
moving down. Most of the stocks have taken a beating. Foreign players
have also started moving into the market. The general economic
depression coupled with the S-E Asian crisis and the nuclear blasts
have taken their toll on the industry. Recent trends indicate a shift in
fortunes for the industry as a whole and especially for a few players.
.
Fixed Deposit:-
What is a fixed deposit?
A fixed deposit is an investment account comprising a single deposit,

for a fixed term at a guaranteed fixed rate of interest. It can be used
for both short and long term investment purposes. A fixed deposit
account allows you to deposit your money for a set period of time,
thereby earning you a higher rate of interest in return. Fixed deposits
also give you a higher rate of interest than a savings bank account.
Why Fixed Deposit?
S.K.S.B.M. PATAN 46
Fixed deposit is one of the oldest & most common methods of

Investing. FDs look great because you get a decent risk-adjusted
return and your principal is protected. Fixed deposits help you to
secure your hard earned money for a long duration. Fixed deposit is a
financial instrument for you to deposit your money for a fixed
duration ranging from 15 days to 5 years.
However you need to remember that FDs are safe only as long as they
are parked in large bank. Now a day, the banks & financial market is
becoming very competitive.
You need to check up on the different types of FDs scheme available

before making any fixed deposit investments. Banks offer various
types of fixed deposits in India to their customers. Some banks offer a
fixed deposit schemes which offer more savings & over draft facility.
Some private company also offer fixed deposit scheme.A regular fixed
deposit can earn you an interest up to 8.75% and senior citizens who
opt for such a fixed deposit scheme are eligible for an additional 0.5 %
increase.
Who can apply for a fixed deposit account?
Individuals and organizations with the intention of retaining their

savings for a fixed period for some future use.
What is the minimum amount can be deposited?
The minimum deposit amount is Rs. 1,000/- Deposits can be made in

multiples of Rs. 100/-.
S.K.S.B.M. PATAN 47
Chart of Fixed Deposit Investment
CHART-2
Here the Chart shows that Investors invest their money in the Fixed
Deposits for particular time period on particular interest rate. If the
interest rate raise then the amount of the investment is also increased
and if the rate is fall then the investment is decreased. The investors
will get the amount with increment or decrement on particulars time
period if the rate is respectively increased or decreased .The main
benefits of the Fixed Deposit is that investors can anytime switch it if
it does not give proper return.
TYPES OF FIXED DEPOSITS
S.K.S.B.M. PATAN 48
There are two types of Fixed Deposit in India. One is Fixed Deposits
in Banking Sector and other is Non- Banking Fixed Deposits. In Non-
banking Fixed deposits, various companies, Private and Public
Institutes and post Offices provide the Fixed Deposit Services. Non-
banking FDs are called Non-Banking Finance Companies (NBFCs)
Fixed Deposit.
-: Bank Fixed Deposit:-

A fixed deposit is meant for those investors who want to deposit a
lump sum of money for a fixed period; say for a minimum period of 15
days to five years and above, thereby earning a higher rate of interest
in return. Investor gets a lump sum (principal + interest) at the
maturity of the deposit.
Bank fixed deposits are one of the most common savings scheme open
to an average investor. Fixed deposits also give a higher rate of
interest than a savings bank account. The facilities vary from bank to
bank. Some of the facilities offered by banks are overdraft (loan)
facility on the amount deposited, premature withdrawal before
maturity period (which involves a loss of interest) etc. Bank deposits
are fairly safer because banks are subject to control of the Reserve
Bank of India.
Features:-
Bank deposits are fairly safe because banks are subject to control of
the Reserve Bank of India (RBI) with regard to several policy and
operational parameters. The banks are free to offer varying interests
in fixed deposits of different maturities. Interest is compounded once
a quarter, leading to a somewhat higher effective rate.
The minimum deposit amount varies with each bank. It can range
from as low as Rs. 100 to an unlimited amount with some banks.
Deposits can be made in multiples of Rs. 100/-.
Before opening a FD account, try to check the rates of interest for

different banks for different periods. It is advisable to keep the
amount in five or ten small deposits instead of making one big deposit.
In case of any premature withdrawal of partial amount, then only one
S.K.S.B.M. PATAN 49
or two deposit need be prematurely encashed. The loss sustained in

interest will, thus, be less than if one big deposit were to be
encashed. Check deposit receipts carefully to see that all particulars
have been properly and accurately filled in. The thing to consider
before investing in an FD is the rate of interest and the inflation rate.
A high inflation rate can simply chip away your real returns.
Returns:-
The rate of interest for Bank Fixed Deposits varies between 4 and 11
per cent, depending on the maturity period (duration) of the FD and
the amount invested. Interest rate also varies between each bank. A
Bank FD does not provide regular interest income, but a lump-sum
amount on its maturity. Some banks have facility to pay interest every
quarter or every month, but the interest paid may be at a discounted
rate in case of monthly interest. The Interest payable on Fixed
Deposit can also be transferred to Savings Bank or Current Account of
the customer. The deposit period can vary from 15, 30 or 45 days to 3,
6 months, 1 year, and 1.5 years to 10 years.
TABLE-1
Interest rate (%) per

Duration
annum
15-30 days 4 -5 %
30-45 days 4.25-5 %
46-90 days 4.75—5.5 %
91-180 days 5.5-6.5 %
181-365 days 5.75-6.5 %
1-2 years 6-8 %
2-3 years 6.25-8 %
3-5 years 6.75-8
Advantages:-
S.K.S.B.M. PATAN 50
Bank deposits are the safest investment after Post office savings
because all bank deposits are insured under the Deposit Insurance &
Credit Guarantee Scheme of India. It is possible to get a loan up to75-
90% of the deposit amount from banks against fixed deposit receipts.
The interest charged will be 2% more than the rate of interest earned
by the deposit. With effect from A.Y. 1998-99, investment on bank
deposits, along with other specified incomes, is exempt from income
tax up to a limit of Rs.12, 000/- under Section 80L. Also, from A.Y.
1993-94, bank deposits are totally exempt from wealth tax. The 1995
Finance Bill Proposals introduced tax deduction at source (TDS) on
fixed deposits on interest incomes of Rs.5000/- and above per annum.
Disadvantages:-
Bank Fixed deposit Rate are lower than non banking fixed Deposit
Rate and so if the market is high investor of bank FDs get low returns
on their investment compare than Others.
How to apply:-
One can get a bank FD at any bank, be it nationalized, private, or

foreign. You have to open a FD account with the bank, and make the
deposit. However, some banks insist that you maintain a savings
account with them to operate a FD. When a depositor opens an FD
account with a bank, a deposit receipt or an account statement is
issued to him, which can be updated from time to time, depending on
the duration of the FD and the frequency of the interest calculation.
Check deposit receipts carefully to see that all particulars have been
properly and accurately filled in
-: Company Fixed Deposits:-
Fixed deposits in companies that earn a fixed rate of return over a

period of time are called Company Fixed Deposits. Financial
S.K.S.B.M. PATAN 51
institutions and Non-Banking Finance Companies (NBFCs) also

accept such deposits. Deposits thus mobilized are governed by the
Companies Act under Section 58A. These deposits are unsecured, i.e.,
if the company defaults, the investor cannot sell the company to
recover his capital, thus making them a risky investment option.
NBFCs are small organizations, and have modest fixed and manpower
costs. Therefore, they can pass on the benefits to the investor in the
form of a higher rate of interest.
NBFCs suffer from a credibility crisis. So be absolutely sure to check

the credit rating. AAA rating is the safest. According to latest RBI
guidelines, NBFCs and companies cannot offer more than 14 per cent
interest on public deposits. Company/NBFC Fixed Deposits are rated
by credit rating agencies like CARE, CRISIL and ICRA. A company
rated lower by credit rating agency is likely to offer a higher rate of
interest and vice-versa. An AAA rating signifies highest safety, and D
or FD means the company is in default.
Definition:
Company fixed deposit is recently popular instrument to collect the

money from Investor to fulfill the company’s financial necessity.
“Company fixed deposit is such like gadget by which it offers a high

return investment scheme to investors for fulfilling its financial
requirement for particular time period.”
Types of the Company Fixed Deposits
S.K.S.B.M. PATAN 52
Company Fixed Deposits forms is available through various broking

agencies or directly with the companies. Jaiprakash Association Ltd.,
Tata Financial Services ltd. Alliance Capital Private Ltd. Birla,
Cholamandalam, Franklin Templeton is very well known company
which provides the company fixed deposits.
There are four types of the company fixed deposit.
1. Non Cumulative Deposits (Recurring Deposits)

2. Cumulative Deposits
3. Reinvestment Deposits
4. Callable Fixed Deposits
1. Non-cumulative Deposits (Recurring deposits):
Company provides two types of non-cumulative deposits. One is

monthly income deposits and other is Quarterly income deposits. In
India most of the companies provide this two typed FDs.
 Monthly income deposits:
In Monthly income deposits investors invest their money in company

on particular time which is one Month. Company paid the interest
every month. The interest is paid constantly every month.
 Quarterly income deposits:
In this Scheme interest is paid once every quarter. In Quarterly

income deposits, you can choose the minimum amount you want to
save every month ranging from Rs. 100/- to Rs. 1,000/- .The chosen
S.K.S.B.M. PATAN 53
amount will be the core amount and you can deposit up to ten times of
the core amount every quarter.
2. Cumulative Deposits:
The Cumulative Benefit Deposit Scheme has various customer-

convenient features. You can invest any amount, anytime You can
choose any from a combination of four plans. 6months,1 years, 2 years
and 3 or more than 3 years.
The minimum deposit is Rs. 100/-. Higher deposits should be in

multiples of Rs. 5/-.
To know more about this two schemes. Let’s take example of

Jaiprakash Associates Ltd. FDs schemes.
Jaiprakash Associates ltd.
JP association provides Non-cumulative FD schemes and cumulative

FD schemes. In Non-cumulative FD Schemes Company put Scheme A
S.K.S.B.M. PATAN 54
for Monthly Income Plan and B for Quarterly Income Plan. Company
put schemes C for Cumulative FD plan.
FIXED DEPOSIT SCHEMES
NON-CUMULATIVE DEPOSITS
TABLE-2
SCHEME A
MONTHLY INCOME PLAN
Period Mini. Amount(Rs.) Rate of
Interest (%)
1yrs. 15000 11.00%
2yrs. 15000 11.50%
3yrs. 15000 12.00%
TABLE-3
SCHEME B
QUARTERLY INCOME PLAN
Period Mini. Amount(Rs.) Rate of
Interest (%)
1yrs. 10000 11.00%
2yrs. 10000 11.50%
3yrs. 10000 12.00%
S.K.S.B.M. PATAN 55
 Additional amounts in multiples of Rs.1000/-.

 Interest on quarterly income plan is compounded monthly and
paid quarterly.
 Post dated interest warrants on FDs for each financial year will
be dispatched in advance along with the FDs receipts (schemes
A& B).
 Special Rate: An additional rate is 0.50% per annum shall be
paid to (a) Senior citizens above the age of 60 yrs. (b)
Shareholders of JAL (mini. 100 shares) (c) employee of Jaypee
Group.
CUMULATIVE DEPOSITS
TABLE-4
SCHEME C
Period Mini. Categor Payable on YIELD

Amount(Rs.) y Maturity(Rs.) (%)
6Months 10000 General 10550 11.00
Special 10575 11.50
1 yrs. 10000 General 11157 11.57
Special 11213 12.13
2 yrs. 10000 General 12572 12.86
Special 12697 13.48
3 yrs. 10000 General 14308 14.36
Special 14522 15.07
 Additional amounts in multiples of Rs.1000/-.

 Maximum amount per investor for six months’ duration- Rs. 10
lacs.
 Interest compounded monthly on deposit of year or more.
 Special Rate: An additional rate is 0.50% per annum shall be
paid to (a) Senior citizens above the age of 60 yrs. (b)
Shareholders of JAL (mini. 100 shares) (c) employee of Jaypee
Group.
S.K.S.B.M. PATAN 56
3. Reinvestment Deposits:-
A Reinvestment Deposit Plan basically allows you to reinvest

the interest earned on your deposit. If you would like to retain your
deposits and accumulate it with interest, you can apply for a
Reinvestment Deposit Plan. You could use these deposits to meet any
expenditure in the future... children's education and marriage.
The features of a Reinvestment Deposit Plan.

 The interest on your deposit also earns interest.
 You can avail loans of up to 85% on the principal and also on the
interest accrued.
 You can close your deposit prematurely without any difficulty.
 The minimum deposit amount is Rs. 1,000/-. Initially deposits
should be made only in multiples of Rs. 100/-. Renewals can be
made in any amount.
3. Callable Fixed Deposits:
It is a principal protected deposit which offers a fixed coupon rate and

can be early terminated at the bank’s discretion. Investors get higher
interest rate than that available on traditional time deposits and 100%
capital protection at maturity.
S.K.S.B.M. PATAN 57
INVESTMENT OBJECTIVES
 Company fixed deposits suitable for an increase in

investment:-
A Company/NBFC Fixed Deposit provides for faster appreciation in

the principal amount than bank fixed deposits and post-office
schemes. However, the increase in the interest rate is essentially due
to the fact that it entails more risk as compared to banks and post-
office schemes.
 Company fixed deposits suitable for income:-
Company/NBFC Fixed Deposits are suitable for regular income with

the option to receive monthly, quarterly, half-yearly, and annual
interest income. Moreover, the interest rates offered are higher than
banks.
 company deposit protect against inflation:-
A Company/NBFC Fixed Deposit provides you with limited protection

against inflation, with comparatively higher returns than other
assured return options.
 Borrow against a company fixed deposit:-
You can borrow against a Company/NBFC Fixed Deposit from banks,

but it depends on the credit rating of the company you have invested
in. Moreover, some NBFCs also offer a loan facility on the deposits you
maintain with them.
S.K.S.B.M. PATAN 58
Investment Drawbacks:
 Company fixed deposits are unsecured instrument

while company become bankrupt:-
Company Fixed Deposits are unsecured instruments, i.e., there are no

assets backing them up. Therefore, in case the company/NBFC goes
under, chances are that you may not get your principal sum back. It
depends on the strength of the company and its ability to pay back
your deposit at the time of its maturity. While investing in an NBFC,
always remember to first check out its credit rating. Also, beware of
NBFCs offering ridiculously high rates of interest.
 No guarantee of returns of company fixed deposits if

stock markets are down:-
If the Company/NBFC goes under, there is no assurance of your

principal amount. Moreover, there is no guarantee of your receiving
the regular-interval income from the company. Inflation and interest
rate movements are one of the major factors affecting the decision to
invest in a Company/NBFC Fixed Deposit. Also, you must keep the
safety considerations and the company/NBFC's credit rating and
credibility in mind before investing in one.
 Company FD cannot be sold in the secondary market:-
A company/NBFC Fixed Deposit can only be encased at the Company/

NBFC it was invested in.
S.K.S.B.M. PATAN 59
How can invest in company Fixed Deposits?
Investor has to fill the application form completely and assure that all
the columns should be filled up carefully, neatly and sign on every
correction if any.
After filling the form, investor should join the cheque favoring the
COMPANY NAME and crossed “Account Payee only “should be
deposited with particular bank mentioned by the F.D.Department.
If investor has not particular bank account, he or she can send
demand draft directly to F.D. Department of Company.
 BUYING, SELLING, AND HOLDING
How can buy Company Fixed Deposit?
Company Fixed Deposits forms is available through various broking

agencies or directly with the companies. Similar is the case for the
NBFCs.
Some of the options available are:
-- Monthly income deposits, where interest is paid every month.
-- Quarterly income deposits, where interest is paid once every

quarter.
-- Cumulative deposits, where interest is accumulated and paid along

with the principal at the time of maturity.
-- Recurring deposits, similar to the recurring deposits of banks.
S.K.S.B.M. PATAN 60
The minimum investment for Company Fixed Deposit:-
Minimum investment in a Company/NBFC Fixed deposit varies from

company to company. Normally, the minimum investment is Rs
5,000. For individual investors, there is no upper ceiling. In case of
recurring deposits, the minimum amount is normally Rs 100 per
month.
Duration of he Company Fixed Deposit Scheme:-
Company/NBFC Fixed Deposits have varying duration; they may vary

from a minimum of 6 months to 5 years or even more.
Determination of Market Value of Company Fixed Deposit
Company/NBFC Fixed Deposits do not have a market value since they

can't be sold or purchased in the secondary market.
OBJECTIVES OF FIXED DEPOSITS

 Guaranteed return of Principal amount:-
Here in both the cases, may it be fixed deposit or fixed deferred

annuity, security of the investment is the key feature. In case of fixed
S.K.S.B.M. PATAN 61
deposits principal amount is guaranteed by the government. In case

where the amount is huge one may exercise the option of risk cover
while getting into the contract with the banking institution.
Deferred fixed annuities are not as secure as the fixed deposits with
the banks as they are not guaranteed by the government, but the risk
feature remains very low as the company provides the customer with
full insurance cover. Even in the INDIA, the annuities are not
guaranteed by the government as it is the case with fixed deposits up
to a certain limit. Fixed deferred annuities are solely reliable on the
smooth running of the companies business. So while fulfilling your
security objective you must keep in view the financial reliability of the
company so that you do not get into contract with a poor performing
company.
 Short term investment :-
Considering that the time frame that one needs to invest for is short in
nature then investing in fixed deposits will prove a better investment
as accumulation here will be more than the deferred annuity plans.
Fixed deferred annuity plans in there beginning years require lot of
expenditure in there proper allocation and processing so they do not
give attractive returns to the short term investors. Fixed deposits are
ideal in short term as they have maturity period ranging from a single
month to a couple of years.
 Long term investment :-
Deferred fixed annuity is certainly a specialized product offering for a

long term investor as the accumulation structure suits to the
retirement needs. These annuity plans are flexible during the payout,
in some plans the annuity is paid to the legal heirs or the nominee for
his/her lifetime even after the death of the contract holder.
S.K.S.B.M. PATAN 62
 Interest Return on investment :-
fixed deposits may offer a specified rate of interest for a fixed period of
time but the rates cannot remain the same forever, rates do change as
per the real market scenario and the policy decisions on a continues
basis. No institution guarantees the renewal interest rates, generally
for shorter durations low rates are offered than the long term
contracts in case of fixed deposits.
As far as deferred annuity plans are concerned there is a fixed

minimum payout which is guaranteed by the insurer for the initial few
years after which the accumulation depends on the performance of the
fund in the market. In case of fixed annuity plans the rate of interest to
be returned to the investor keeps on fluctuating as per the market
condition after the initial lock-in period which guarantees the rate of
return.
 Tax Savings:-
When income tax becomes the cause of concern, it is suggested for an

investor to go for fixed rate deferred annuity plans as the tax is also
calculated on the deferred date and the interest is accumulated for the
complete term till maturity. On the other hand income tax is charged
simultaneously on the fixed deposits.
Other important factors which should be considered by an investor

while selecting his investment instrument are Liquidity options,
distribution options on maturity and one must also read and
understand the offer document with utmost clarity.
BENEFITS OF FIXED DEPOSITS
 Safety:-
Fixed Deposit is virtually risk-free. The initial sum of money that you
invest is returned to you with interest when Fixed Deposit matures
and the interest rate is guaranteed. With other types of investments,
S.K.S.B.M. PATAN 63
interest rates may fluctuate and your initial investment amount is

usually not guaranteed
 Regular Income:-
Fixed deposits earn fixed interest rates for their entire tenure, which is
usually compounded quarterly. So, those who want an income on a
regular basis can invest into fixed deposits and use the interest rate as
their income. This makes a fixed deposit very popular way of investing
money for retirees.
 High Return compare than traditional savings:-
Fixed Deposits generally give you a higher rate of interest than

traditional savings accounts, and the rates that offer are competitive.
 Saves tax:-
With the directives of the income tax department stating that

investment in fixed deposits up to a maximum of Rs.100,000 for 5
years are eligible for tax deductions under section 80 C of income tax
act, fixed deposits have again become popular. Fixed deposits save tax
and give high returns on invested money.
 Easy Withdrawal:-
The option to withdraw the deposit at any time before maturity

without any difficulty and you can get loans up to 85% of the principal.
DRAWBACKS OF FIXED DEPOSITS
 Lower rate of returns compare with Stock Market:-
While the money invested in stock markets may give you a return of
S.K.S.B.M. PATAN 64
20% the fixed deposits will yield only about 10%. So, the money
grows slowly in the case of fixed deposits. A fixed deposit won't give
you the same returns that you may get in the stock markets. For
instance a stock-portfolio may raise 20-30 per cent in a good year
whereas a fixed deposit typically earns only 7-10 per cent.
 Taxes: -
The interest earned on fixed deposits is fully taxable and is added to

the annual income of the individual. Gains from stocks are considered
capital gains while dividends are tax free.
 Rising inflation can wipe out the interest benefits:-
The actual benefits or income from fixed deposit can be annulled by a

rising inflation. Suppose the inflation which is currently at 3 % rises to
about 6%, your fixed deposit at 10% annual return will effectively yield
only(10%-6%) = 4% of return. This return would have been (10% -3%)
= 7% if the rate of inflation had not changed. This can drastically eat
into your fixed deposit income.
S.K.S.B.M. PATAN 65
S.K.S.B.M. PATAN 66
OBJECTIVES OF RESEARCH
 The main objective of this project is concerned with getting the

opinion of people regarding fixed deposits and what they feel about
availing the services of financial advisors.
 I have tried to explore the general opinion about fixed deposits. It also
covers why/ why not investors are availing the services of financial
advisors.
 Along with it a brief introduction to India’s largest financial
intermediary, MOTILAL OSWAL SECURITIES LTD. has been given
and it is shown that how they operate in fixed deposit department.
SUB- OBJECTIVES
 Which income class people prefer fixed deposit?

 Why they prefer fixed deposit?
 Which option they choose alternate of fixed deposit?
 How much they aware of Fixed deposit?
 How many AMC provide fixed deposit service?
 Which professional people select fixed deposit?
 What problems faced when choose fixed deposit?
 What benefit they take from fixed deposit?
 What factors they take mind, when invest money in Fixed deposit?
 What is their objective to invest their money in fixed deposit?
 Are they agree with Fixed deposit is safe than other?
 Are they agreeing with fixed deposit giving more return than other
securities?
S.K.S.B.M. PATAN 67
SCOPE OF THE STUDY
The research was carried on in the Western Region of India. It is restricted to

Mehsana where it has got 3 branch offices. I have visited people randomly
nearby my locality, small retailers, doctors, customers of MOSL, Business
Persons, Government Servant, etc.
DATA SOURCES
Research is totally based on primary data. Secondary data can be used only
for the reference. Research has been done by primary data collection, and
primary data has been collected by interacting with various people. The
secondary data has been collected through various journals and websites and
some special publications of MOTILAL OSWAL SECURITIES LTD.
S.K.S.B.M. PATAN 68
SAMPLING
Sampling procedure:
The sample is selected in a random way, irrespective of them being investor

or not or availing the services or not. It was collected through mails and
personal visits to the known persons, by formal and informal talks and
through filling up the questionnaire prepared. The data has been analyzed by
using the measures of central tendencies like mean, median, mode. The group
has been selected and the analysis has been done on the basis statistical tools
available.
Sample size:
The sample size of my project is limited to 116 only. Out of which only
82people attempted all the questions. Other 34 not investing in Fixed
Deposits attempted only 2 questions.
Sample design:
Data has been presented with the help of bar graph, pie charts, line graphs
etc.
Limitation:
 Time limitation.
 Research has been done only at Mehsana.
 Some of the persons were not so responsive.
 Possibility of error in data collection.
 Possibility of error in analysis of data due to small sample size.
S.K.S.B.M. PATAN 69
METHODOLOGY
After joining the Motilal Oswal Securities Ltd., we got basic knowledge
about the company and the function of the company. Company provides
basic training of Fixed Deposit along with other services such like Mutual
Funds, Portfolio Management Services, IPOs, E- Broking, and Depositary
Services. Company arranges Seminars for giving information and trainings
about it services.
After taken basically training, doing the survey of awareness of Fixed

Deposit Service is to prepare the questionnaire. The questions for the
questionnaires are prepared after going through pamphlets, research reports,
fact sheets of Fixed Deposits.
By the questionnaires, data about the Fixed Deposits are to be collected. To

fill the questionnaires the survey was conducted in commercial area of
Mehsana city. The source for filling questionnaires are doctors, customers of
MOSL, Business Persons, Government Servant, my locality,, small retailers
interested in equity and Fixed Deposit or invest huge in debt or real assets
business etc.
After collection of the data, the questionnaires are analyzed and the people
who are interested in Fixed Deposits are found out. We got the information
about the above interested persons and contact them by the Phones and
personal meetings. We explain them about FDs and receive their Feedbacks.
In the last, we prepare the project what have done practically & give the
conclusion.
S.K.S.B.M. PATAN 70
The Respondents of the Questionnaire
The sample size of my project is limited to 116 only. Out of which

only 82people attempted all the questions. Other 34 not investing in
Fixed Deposits attempted only 2 questions.
TABLE-5
S.K.S.B.M. PATAN 71
No Name Contact No
1 Tarunbhai .A. Panchal 9724474746
MOTILAL OSWAL
2 SECURITIES
Dipak NayakLTD. 9925968128
3 Hiteshbhai Gajjar 9909469591
4 Rajkishan Aggrawal 9427491994
5 Mehulbhai Suthar 9924992426
6 Shaileshbhai B Prajapati 9427847807
7 Natubhai B Raval 9277206344
8 Hirenbhai R Sathavara 9904150958
9 Dilipbhai B Nayee 9924189132
10 Rakesh M Yogi 9099413223
11 Jayram N Desai 9979107033
12 Vishal V Prajapati 9228290886
13 Suresh N Limbachiya 9974956634
14 Haresh P Panchal 9924810793
15 Himanshu. N Patel 9426395403
16 Jayanti Bhai. G. Patel 9924079680
17 B.K.Patel 9925305522
18 R.D.Joshi Nil
19 S.V.Patel 9979930219
20 S.P.Parmar nil
21 R.M.Thakor 9924418267
22 Dharesh Sukhdiya 9727596592
23 Rohit Bhai.B. Chaudhari 9925504522
24 BHARAT Bhai Modi 9426530817
25 Vishnu Bhai. A. Patel 9727908072
26 Jayanti Bhai. P.Patel 9428008263
27 Nitin Bhai. C. Patel 9979568817
28 Vitthal Bhai M. Patel 9898986114
29 Praveen Kumar. J. Patel 9904719200
30 Mahesh Kumar. N. Soni 9327043204
31 Mahendra. T Gohil 9723641525
32 Bhavesh. D.Gohil 9723778465
33 Mohammad Hanif 9824719809
34 Hasmukh Bhai. J Patel 9428955580
35 Govindv Bhai. J. Patel 9925651516
36 Amrat Bhai. M. Gajjar 9898743264
37 Vijay. G. Parmar 9898127398
38 Jayesh Kumar. A.Patel 9979923057
39 Kirit Kumar. D.Patel 9979518898
40 D.I.Modi 9824135278
41 Satish Gheewala 9377220772
42 Vadi Lal. R. Patel 9998813952
43 Chiman Bhai. B. Prajapati 9909495634
44 Prashant. S.PATEL 9925457130
45 Soma Bhai Magan Bhai Oza S.K.S.B.M. PATAN 72
9979628249
46 Kanti Lal L. Prajapati 9898281332
S.K.S.B.M. PATAN 73
S.K.S.B.M. PATAN 74
QUSTIONNAIRE
Conditions: 1.This questionnaire is used only for project

requirement.
2. All the questions must attain compulsory.
3. Please tick [√] where needed.
4. All information provided by you is only for education
purpose and will be kept confidentially.
1. Have you know about Motilal Oswal Securities Ltd.?
Yes [ ] No [ ]
If not,
Our services
1) Stock Market
2) Fixed deposit
3) Equity
4) PMS
5) Commodity Broking
6) E- Broking
7) Depository
8) Fixed Deposits and Bonds
S.K.S.B.M. PATAN 75
If yes,
How did you know about it?

1) Pamphlet [ ]
2) T.V. [ ]
3) News Paper [ ]
4) By Friend Circle [ ]
5) By society [ ]
6) Other ………………………………..
2. Have you invested /are you interested to invest in fixed deposits?

Yes [ ] No [ ]
If Yes,
3. Which are the most important factors for selecting Fixed Deposits to
investment?
1) Higher Return
2) Low Risk
3) Easy to Invest
4) Other
If No,
4. What is the most important reason for not investing in fixed deposits?
Lack of knowledge about fixed deposits [ ]
Enjoys investing in other options [ ]
Its benefits are not enough to drive you for investment [ ]
No trust over the FD managers [ ]
5. Are Fixed Deposits safe for investment rather than Security market?
Strong Agree [ ]
Agree [ ]
Neutral [ ]
Disagree [ ]
S.K.S.B.M. PATAN 76
Strong Disagree [ ]
6. Does Fixed Deposits give more return than other?
Strong Agree [ ]
Agree [ ]
Nutural [ ]
Disagree [ ]
Strong Disagree [ ]
7. Where do you find yourself as a fixed deposit investor?
Totally ignorant [ ]
Partial knowledge of fixed deposits [ ]
Aware only of any specific scheme in which you invested [ ]
Fully aware [ ]
8. Where from you purchase fixed deposits?
Directly from the AMCs [ ]

Brokers only [ ]
Brokers/ sub-brokers [ ]
Other sources [ ]
9. Which feature of the fixed deposits allure you most?
Diversification [ ]
Professional management [ ]
Reduction in risk and transaction cost [ ]
Helps in achieving long term goals [ ]
10. According to you which is the most suitable stage to invest in fixed
deposits?
Young unmarried stage [ ]

Young Married with children stage [ ]
S.K.S.B.M. PATAN 77
Married with older children stage [ ]

Pre-retirement stage [ ]
11. How many time periods you would like to invest in Fixed Deposit?
6 Months [ ]
1 Year [ ]
2 Years [ ]
3 Years [ ]
More than 3 Years [ ]
12. What is your Monthly Income?

5000-10000 Rs. [ ]
10001-15000 Rs. [ ]
15001-20000 Rs. [ ]
20001-25000 Rs. [ ]
25001-30000 Rs. [ ]
30001-35000 Rs. [ ]
35001-40000 Rs. [ ]
40001-45000 Rs. [ ]
More than 45000 Rs. [ ]
13. PERSONAL INFORMATION:-
Name: ………………………………………………………………………
Address: ……………………………………………………………………...
Phone/Mobile: ……………………………………………………………….
Occupation: ……………………………………………………………………………..
Businessman [ ] Student [ ]
Job/ Service [ ] Dealing in Shares only [ ]
Other then please specify ______________________
“Thanks for Giving Your Precious Time”
S.K.S.B.M. PATAN 78
DATA ANALYSIS AND INTERPRETATION

1. Have you know about Motilal Oswal Securities Ltd.?
TABLE-6
Reply Respondents Percentage (%)

YES 82 70.68%
NO 34 29.32%
Total 116 100%
CHART-3
Respondents
YES, 82, 71%
YES
NO
NO, 34, 29%
INTERPRETATION:
Above graph shows that 82 respondents know about Motilal Oswal Securities
Ltd. and 34 are not familiar than the MOSL from total number of respondents
116.We can say that 70.68% people are know the services provided by
MOSL and 29.32 % do not know about MOSL. So company should explain
them about itself and its services.
.
S.K.S.B.M. PATAN 79
1.1 How did you know about it?
TABLE-7
Sources Respondents
Pamphlet 15
T.V. 30
News paper 43
By Friend Circle 08
By Society 06
Other 14
Total 116
CHART-4
Information
Pamphlet
45
40 T.V.
35
30
25 New s paper
Respodents
20
15
10 By Friend Circle
5
0
Respodents By Society
Sources
Other
INTERPRETATION:
On analyzing the Questionnaires, They show that in total of 116, 15 people

are aware about the company through pamphlet , 30 are through TV , 43
through news paper, 6 are by society and o remain 14 are aware about
company through other sources .
S.K.S.B.M. PATAN 80
2. Have you invested /are you interested to invest in fixed deposits?
TABLE-8
Scale Respondents Percentage (%)

YES 67 57.75 %
NO 49 42.25 %
CHART-5
Respondents
NO, 49, 42%

YES
NO
YES, 67, 58%
INTERPRETATION:
In survey I found that most of people of Mehsana city invest in fixed

deposit.57.75 % people investing in fixed deposit. Only 42.25% people
don't investing in fixed deposit. This shows that the market of
Mehsana city is potential; due to this reason most of company going to
launch its branch in Mehsana city.
S.K.S.B.M. PATAN 81
3. Which are the most important factors for selecting Fixed Deposits
to investment?
TABLE-9
Scale Responde Percentage
nt (%)
HIGHER RETURN 35 42.68%
LOW RISK 26 31.70%
EASY TO INVEST 14 17.07%
OTHER 07 8.55%
TOTAL 82 100%
CHART-6
40
35 42.68%
30
31.70%
25
20 Percentage (%)
35
15 17.07% Respondent
26
10
14 8.55%
5 7
0
HIGHER LOW EASY TO OTHER
RETURN RISK INVEST
INTERPRETATION:
S.K.S.B.M. PATAN 82
Most of investors like High Return from the FD and it are 42.68%. 31.70%
people like FD due to low risk. 17.07 % people like FD in easy to invest.
Only 8.55% people like FD for other reasons. Above graph shows that the
high return of FD is more liked by investors. Actually FD gives more return
than any other investment. FD gives approximately minimum 25 % return.
S.K.S.B.M. PATAN 83
4. What is the most important reason for not investing in fixed

deposits?
TABLE-10
nt (%)
Lack of 40 48.78%
knowledge about
fixed deposits
Enjoys investing 15 18.29%
in other options
Its benefits are not 6 7.32%
enough to drive
you for investment
No trust over the 21 25.61%
FD managers
TOTAL 82 100%
CHART-7
S.K.S.B.M. PATAN 84
Factor
Lack of knowledge about

fixed deposits
21 Enjoys investing in other

options
40
Its benefits are not

6 enough to drive you for
investment
15
No trust over the FD
managers
INTERPRETATION:
Most of investors have a problem face when investment time. 48.78 %

people face a problem of Lack of knowledge about fixed deposits. Then
18.29 % Enjoys investing in other options .Other 7.32 % investor believe that
its benefits are not enough to drive them for investment. 25.61 % people have
not trust over the FD Managers.
5. Are Fixed Deposits safe for investment rather than Security
market?
TABLE-11
Scale Responden Percentage
t (%)
STRONGLY AGREE 35 42.68%
AGREE 24 29.27%
NUTURAL 17 20.73%
DIS AGREE 4 4.88%
STRONGLY DIS AGREE 2 2.44%
TOTAL 82 100%
CHART-8
S.K.S.B.M. PATAN 85
40
35 42.68%
30
25 29.27% Percentage (%)
20
35 20.73% Respondent
15
24
10 17
5 4.88%
4 2.44%
2
0
L
E
EE
EE
E
RA
RE
RE
R
R
TU
AG
AG
AG
AG
NU
LY
IS
S
DI
D
G
LY
N
RO
G
N
ST
RO
ST
INTERPRETATION:
People are fully agreed that FD is right way for Investment to get constant
benefits. They all are aware about FD. They also agree that fixed deposit
gives constant return. Here 42.68 % people said that they are strongly agree
that FD is safe for investment & 29.27 % persons are agree that only FD is
right way to for investment in stock market. While 4.88 % people said that
they are disagree and only 2.44 % people said that they are strongly disagree
with fixed deposit is safe for investment.
6. Does Fixed Deposits give more return than other?
TABLE-12
nt (%)
STRONGLY AGREE 31 38%
AGREE 21 27%
NUTURAL 24 29%
DIS AGREE 3 3%
STRONGLY DIS AGREE 3 3%
TOTAL 82 100%
CHART-9
S.K.S.B.M. PATAN 86
RETURN
35
30 38%
25 29%
20 27% Percentage (%)
15 31 Respondent
21 24
10
5
3%
3 3%
3
0
NUTURAL
STRONGLY
STRONGLY
AGREE
AGREE
DIS
AGREE
AGREE
DIS
INTERPRETATION:
People are fully agreed that fixed deposit gives more return 38% strongly
agree. Then 27% are agreeing with more return then other investment. While
3% people are strongly disagreeing with fixed deposit gives more return.
People in 29% are neutral for more return gives a fixed deposit.
S.K.S.B.M. PATAN 87
7. Where do you find yourself as a fixed deposit investor?
TABLE-13
Scale Responde
nt
Totally ignorant 17
Partial knowledge of fixed deposits 34
Aware only of any specific scheme 23
in which you invested
Fully aware 08
Total 82
CHART-10
Respondent
40 34
35
30
23
25
20 17 Respondent
15
8
10
5
0
Totally Partial Aware only of Fully aware
ignorant knowledge of any specific
fixed deposits scheme in
which you
invested
INTERPRETATION:
S.K.S.B.M. PATAN 88
When ask this question, from 82 people, 17 people does not know to invest
in the fixed deposits. Who have partially knowledge about FD, they are 34
people.23 people are aware about the some special scheme because they
invest their money in it. Only 8 people from the respondents has fully aware
about the fixed deposits. This shows that if companies try to aware people
about FDs, they are been ready to invest in FD.
S.K.S.B.M. PATAN 89
8. Where from you purchase fixed deposits?
TABLE-14

nt (%)
Directly from the AMCs 55 68%
Brokers only 12 15%
Brokers/ sub-brokers 7 8%
Other sources 8 9%
TOTAL 82 100%
CHART-11
Purchase
8
7
Directly from the AMCs
Brokers only
12 Brokers/ sub-brokers
55 Other sources
INTERPRETATION:
When ask the question, from where did you purchase FD, 68 % people
reply directly from the AMCs.15% reply from broker only, 8% reply from
broker/ sub brokers and the remain 9 % people answered that from other
sources.
S.K.S.B.M. PATAN 90
9. Which feature of the fixed deposits allure you most?
TABLE-15
Scale Responden Percent
t age (%)
Diversification 44 53.65%
Professional management 15 18.29%
Reduction in risk and transaction 19 23.18%
cost
Helps in achieving long term 4 4.88%
goals
TOTAL 82 100%
CHART-12
features
50 44
45
40
35
30
25 19 Respondent
20 15
15
10 4
5
0
Diversification Professional Reduction in Helps in
management risk and achieving long
transaction term goals
cost
INTERPRETATION:
On asking the above question,from82 respondents, 44 replied that they liked

the diversification of FD.15 answers were about professional management
.Low risk and low transaction cost allured 19 people and 4 people replied that
FD helps them to achieve long term goals. Percentages about the answers are
respectively53.65 %, 18.29 %, 23.18 %and 4.88 %.
S.K.S.B.M. PATAN 91
10.How many time periods you would like to invest in Fixed Deposit?
TABLE-16
Scale Responden Percentage
t (%)
6 Months 32 39.02%
1 Year 27 32.93%
2 Years 10 12.20%
3 Years 9 10.98%
More than 3 Years 4 4.87%
Total 82 100%
CHART-13
Respondent
9 4
6 Months
32
10 1 Year
2 Years
3 Years
More than 3 Years
27
INTERPRETATION:
People who are want to invest in long time they have two main options that
whether hold with one fixed deposit scheme with short term or long term. I
am found that 39.02 % persons are investing six months investment. 32.93 %
people want to investment in one year. 12.20% want to two and 10.98% to
three years investment. More than three year only 4.87 % want to invest in
fixed deposit.
S.K.S.B.M. PATAN 92
11.What is your Monthly Income?
TABLE-17
Income Level Respondent Percentage (%)
5000-10000 46 46%
10000-15000 26 26%
15000-20000 16 16%
20000-25000 5 5%
25000-30000 3 3%
30000-35000 1 1%
35000-40000 0 0%
40000-45000 1 1%
> 45000 2 2%
Total 100 100%
CHART-14
S.K.S.B.M. PATAN 93
Income
50 46
45 5000-10000
40 10000-15000
35 15000-20000
30 26
Income
20000-25000
25
25000-30000
20 16
15 30000-35000
10 35000-40000
5
3
5 1 0 1 40000-45000
0
Respondent
INTERPRETATION:
Most of investors of Mehsana city are of 5000 - 10000 Rs. income level.
Second level of income is 10000-15000. Total quantity of its invests is 54 %
with good income. It shows that the market of Mehsana is really potential for
securities market.
HYPOTHESIS TEST
Test-1: whether 55% of People in Survey are aware about the
company Fixed Deposits.
p = 0.55 q = 0.45 n = 116 α = 0.10 p1= 67/116 =0.5775
HYPHOTHESIS:
H0: p=0.55 (55% of People in Survey are aware about the company
Fixed Deposits)
H1: p≠0.55 (55% of People in Survey are aware about the company
Fixed Deposits)
σ^x = √ (PQ/N)
= √ {(0.55) (0.45)/ 116}
= √0.002133
= 0.04619
S.K.S.B.M. PATAN 94
UL/LL = P ± σ * z
Lower Limit = 0.55 - (0.04619) (1.96) = 0.4594

Upper Limit= 0.55 + (0.04619) (1.96) = 0.6405
45.0% Z Corresponding value = 1.645
Rejection region Acceptance region Rejection region
5% 45% 45% 5%
LL = 0.4594 0.55 UL = 0. 0.6405

p1 =0.5775
Here, the sample mean P1=0.5775 lie on Acceptance region. so we accept

the null hypothesis and reject the alternative hypothesis. So we can say
that 55% of People in Survey are aware about the company Fixed
Deposits.
Test-2 whether more than 50% Investors believe that FDs are safe for
investment rather than other securities of company?
p = 0.50 q = 0.50 n = 116 α = 0.10 Total agree= 35+24 =59 P1 = 0.5086
H0: P=0.50 (50% people believe FDs are safe for Investment.)
H1: P>0.50 (More than50% people believe FDs are safe for
Investment.)
σ^x = √ (PQ/N)
= √ [(0.50) (0.50)/ 116]
= √0.002155
= 0.04642
S.K.S.B.M. PATAN 95
Upper limit = P + σ *z
= 0.50 + (0.04642) (1.64)
= 0.5761
Acceptance region is 45 %. So Z Corresponding value = 1.64
Acceptance Rejection Region

Region
45% 5%
0.50 p1 0.5761
Here, the sample mean P1=0.5086 which lie on Acceptance region. so

we accept the null hypothesis. So it is proved more than 50% Investors
believe that FDs are safe for investment rather than other securities of
company.
S.K.S.B.M. PATAN 96
S.K.S.B.M. PATAN 97
SWOT Analysis
STRENGTH
 A large network is one of the most plus point of Motilal Oswal

Secu. Ltd.
 The leadership of Motilal Oswal Secu. Ltd is also very good.
 The Research Team of Motilal Oswal Secu. Ltd is very
powerful. FD is totally dependent on the research work so it is
very beneficial for the FD.
 The service provided to customers by Motilal Oswal Secu. Ltd
is also good
 The company’s total turnover is very high
 The return given to customers on their investment is high
 The company has good and experience dealers also
 The technology used by Motilal Oswal Secu. Ltd is very
advanced.
WEAKNESS
 There is over staffing in company. So many times some of employees
have no work and this effects on their moral for work and wastage of
time also.
 The time management of company is not proper.
 Lack of proper co-ordination between two departments of the
company.
S.K.S.B.M. PATAN 98
OPPORTUNITY
 The Security market of Mehsana is very potential.

 The company has huge database of HNI customers, so company
can take benefit for its services special for FD.
 In Mehsana city there is only one branch of Motilal Oswal. Due
to this reason the investors of the other side of Mehsana can not
take the more benefit of it. So company can make its other
branch at the other part of Mehsana also.
 The growth of clients in company is constant.
 The place where the company is situated is a a very famous
corporate place so it is beneficial for the company.
 Company arranges seminars regularly for the increasing
awareness about the services and its new products.
THREAT
 The company has to face a cut throat competition

 Rules and regulation of government of India are also very tuff
 The increment in new competitors of company with new
technology is also very fast.
S.K.S.B.M. PATAN 99
RESEARCH FINDING AND CONCLUSION
 At the survey conducted upon 116 people, 67 are already fixed

deposit investors or are interested to invest in future and the
remaining 49 are not interested in it. So there is enough scope for
the advisors to convert those 49 participants into investors through
their convincing power and great communication skills.
 Now, when those 49 people were asked about the reason of not
investing in fixed deposits, then most of the people held their
ignorance responsible for that. They lacked knowledge and
information about the fixed deposits. Whereas just 15 people
enjoyed investing in other option. For 6 people, the benefits
arousing from these investments were not enough to drive them for
investment in FDs and 21 people expressed no trust over the fund
managers’ decision. Again the financial advisors can tap upon these
people by educating them about fixed deposits.
 Out of the 116 persons who already have invested in fixed deposits/
are interested to invest, only 17 have sound knowledge of FDs, 23
people are aware of only the schemes in which they have invested.
34 possess partial knowledge whereas 8 stands nowhere in
knowledge about FDs.
 55 participants buy forms directly from the AMCs, 12 from brokers

only, 7 from brokers and sub-brokers even then 8 people buy from
other sources. The brokers and sub brokers have the maximum
S.K.S.B.M. PATAN 100

reach so they should try to make those investors aware f the

happenings, even the AMCs should follow it.
 When asked about the most alluring feature of FDs, most of them
opted for diversification, followed by reduction in risk, helps in
achieving long term goals and helps in achieving long term goals
respectively.
 Market is potential but only few people investors know about the
FD services.
 The company has no any expert person for the marketing of FD the
Company’s Tips are highly demanded.
 People want to invest in FD but they are afraid about risk and high
amount of FDs
 35% people are not investing in fixed deposit because they believe
in self manage of fund.
 Mostly people says that FD gives more return and safe other
security.
 People are more interested in investing in FD than other
investment.

Recommendations
The most vital problem spotted is of ignorance. Investors should be made

aware of the benefits. Nobody will invest until and unless he is fully
convinced. Investors should be made to realize that ignorance is no longer
bliss and what they are losing by not investing.
Fixed deposits offer a lot of benefit which no other single option could offer.
But most of the people are not even aware of what actually a fixed deposit is?
They only see it as just another investment option. So the advisors should try
to change their mindsets. The advisors should target for more and more
young investors. Young investors as well as persons at the height of their
career would like to go for advisors due to lack of expertise and time.
The advisors may try to highlight some of the value added benefits of FDs
such as tax benefit, rupee cost averaging, and systematic transfer plan,
rebalancing etc. these benefits are not offered by other options single-
handedly. So these are enough to drive the investors towards fixed deposits.
Investors could also try to increase the spectrum of services offered.
Now the most important reason for not availing the services of advisors was
spotted was being expensive. The advisors should try to charge a nominal fee
at the beginning. But if not possible then they could go for offering more
services and benefits at the existing rate. They should also maintain their
decency and follow the code of ethics so that the investors could trust upon

them. Thus the advisors should try to attract more and more persons and turn
them into investors and finally their clients.

BIBLIOGRAPHY
WEB SITES:
www.motilaloswalsecurities.com
www.njindiainvestment.com
www.nseindia.com
www.bseindia.com
SEARCH ENGINE:
Google
Yahoo
JOURNALS & OTHER REFERANCE
Motilal Oswal Secu. Ltd. – Manuals
Njindiainvestment – Manual
The Economic Times

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Motilal Oswal Securities Ltd. Summer Internship Report

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MOTILAL OSWAL SECURITIES LTD.

IN THE PARTIAL FULFILMENT OF THE TRAINING

UNDER THE GUIDANCE OF:

Mr.Maheshbhai Makawana Prof. K.K.Patel

Mr. Maheshbhai Makawana

CERTIFICATION BY THE ORGANIZATION

This is to certify that Mr. Mahesh. J. Raval in M.B.A at Sevantilal

CERTIFICATION BY THE FACULTY GUIDE

This is to certify that the project report entitled “Awareness about

In order to make an individual aware of the practical implication

I have taken training at Motilal Oswal Securities Ltd. I have

Sometimes words fall short to show gratitude, the same happened

My sincere gratitude to Mr. Maheshbhai Makawana Product Head

I am highly indebted to Mr. Jay.K.Oza and Mr. Jay.S.Pandya,

I am grateful to Mr. Vijaybhai Patel (Branch Head, Motilal Oswal

I also thank Prof.K.K.Patel, faculty guide, SKSBM, Patan who has

 The second part consists of data and their analysis, collected

I learn lost of things and quality of manager with practical

SR.NO PARTICULARS PAGE

7.2 Vision & Value of MOSL

8.6 The Respondents of Questionnaire

SR.NO. PARTICULARS PAGE NO.

SR.NO PARTICULARS PAGE NO.

Motilal Oswal Securities Ltd. (MOSL) was founded in 1987 as a small

Today company is a well diversified financial services firm offering a

Company has a diversified client base that includes retail customers

turbulent market conditions. The issue gave a return of 21% on the

Motilal Oswal Financial Services Limited is the holding company of

Vision & Values of Motilal Oswal Securities Ltd.

Integrity A company honoring commitment with highest

Team Work Attaining goals collectively and collaboratively

Meritocracy Performance gets differentiated, recognized

Excellence in Time bound results within the framework of

HISTORY & MILESTONES

The story of Motilal Oswal Securities Ltd (MOSL) goes back

• Investment Banking business advises Aban in their majority

• Acquires local brokerage Gayatri Capitals from Andhra Pradesh and

• Acquires its 100th Franchisee / Channel Partner and emerges as a

These (Wealth Creation) reports have become handy reference guides

“Motilal Oswal is embarking on a path to become a full-fledged

“Motilal Oswal Securities is the most successful brokerage house ever.

"I am sure you will take care of my investments while I am out . . .

Mr. Motilal Oswal

Mr. Motilal Oswal is the promoter of Motilal

“Service is required in everything, in research, in execution and in

He had been elected as a Director of BSE and joined its governing

Mr. Raamdeo Agrawal

Mr. Raamdeo Agrawal is the man behind the strong research

Mr. Agrawal specialises in equity research. He has been authoring the

Mr. Agrawal has received the "Rashtriya Samman Patra" awarded by

Mr. Navin Agrawal

Mr. Navin Agarwal is on the Board of Motilal Oswal Financial Services

He heads the Institutional Broking business and has been

Mr. Ashutosh Maheshvari holds a bachelor's degree in technology

Prior to joining our Company, he was the Executive Director with

Mr. Maheshvari has 13 years of experience in the financial sector and

Mr. Vishal Tulsyan holds a bachelor's degree in

Prior to joining MOFSL, Mr. Tulsyan was Director, Corporate Finance

Previously, he worked with SBI Capital Markets Limited, Mumbai and

Post completing his CA and MBA, he joined Indiainfoline for a short

Mr. Rajesh Dharamshi

Mr. Rajesh Dharamshi started his career with Hemendra R Sheth