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A Summer Internship Project Report

“Home Loans”

PROJECT TITLE- Research analysis of target prospect Home Loans

Submitted in partial fulfilment of the requirements for the degree of

PGP + MBA

By

SHRI KRISHNA NAYAK

(Roll No. A 52)

Under the guidance of

Prof. M.K. GANDHI

A Study Conducted for

At

Indira School of Career Studies,

Wakad, Pune 411033

(2010-12)

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ACKNOWLEDGEMENT

It is indeed a pleasure to acknowledge the contribution of those who have helped me in the preparation of this report.

I would like to take this opportunity to convey my gratitude and thank to the management, officers and staff of the Axis Securities And Sales ltd., Pune, especially to Mr. Prasad Rao (Assistant Manager, Operations), and Prashant Mahton, Senior Business Executive and all the officers and staff working in the credit department of the bank for there kind co-operation and passion to undertake the study of there organization.

I sincerely thank to Mr. Chetan Wakalkar – Group Director, and Mr. P.K> divakaran – Executive Director ISCS for giving me opportunity to undergo PGP + MBA (SMU) course and develop my career.

I am greatly indebted to my project guide Prof. M.K. Gandhi for his constant inspiration and guidance in making this project meaningful.

I would like to express my sincere gratitude to honorable faculty members, staff of ISCS and library for their constant guidance and support.

Finally, I wish to acknowledge the support given by my family and friends during of study.

Place: Pune

Date: / /

.....................................

...

SHRI KRISHNA NAYAK

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Declaration

I declare that this Project Report entitled “Research analysis of target

prospect Home Loans” in “Axis Securities And Sales Ltd. Pune” is a bonafied

work carried by me in a partial fulfilment of PGP + SMU programme under

Indira School Of Career Studies.

This Project was undertaken as a part of academic curriculum according to

the ISCS rule and norm and had no commercial interest and motive.

Place: Pune

Date:

.....................................

SHRI KRISHNA NAYAK

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Index

Topic Pg No

Executive Summary 5

Introduction 7

History 11

Business Line 14

Awards & Recognitions 18

Competitor Analysis 23

Industry Overview 24

Research 27

Data Analysis 31

Results and Conclusions 33

Bibliography 35

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EXECUTIVE SUMMARY

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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.

Ahmadabad based axis bank is working as private bank in India that has a substantive history since 1994. The bank not only deals in retail banking providing utility services to its customers but has also expanded its area of operation in multidimensional services like merchant banking, agri business ,forex market ,and e-banking.

The report deals with a clear understanding of the lending procedures followed by Axis bank. It not only explains sector but also gives an insight into the legal aspects and the paper work required for final sanction of a loan proposal. Different types of advances, method assigning credit limit and drawing power to individuals and business units has been a part of the internship period.

The credit rating methods applied by the banks to rate the credibility of the prospective clients, securities accepted against lending and calculation of Equated Monthly Instalments have also been discussed to give an overview of the lending concept of the bank.

The data collection and analysis includes documents required fir various loan, interest loan for different loan ,business and growth of loan department at branch level etc, finally, conclusion and recommendation as per the analysis during the training period winds up the report.

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Objective of the study

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Objective of the study

The objective of the proposed project is to understand the entire process involved in successful

lending by the bank beginning from the financial analysis of lending of, identification of reliable

potential customer, legal sanction to monitoring of those accounts and their final recovery

procedure through scheduled EMI structure. The main objective are follows.

To study the types of loans

To study the procedure of loans

To study of the growth of various loans of The Axis Securities And Sales Ltd., Pune

To study of the defective aspect of loans issues

To offer suggestion to increase the business

To offer suggestion to minimize risk

To study of changing interest of loans

To study of Bank released a new scheme in the market

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Scope of Study:

The Axis Bank is large establishment in commercial sector is a part of vast network of branches

situated all over India and outside of India. The report states the different types of advances that

are financed by the bank and their classification as fund and non fund based advances.

At present the Bank concentrates on business loans apart from loans like an Axis professional.

Hence, are the scope of study includes various types of loans, loan procedure and requirement

conduction for and eligibility and are same. The study also covers advances of business from end

2005 to year end 2011.

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INTRODUCTION

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INTRODUCTION

Axis Bank was the first of the new private banks to have begun operations in 1994, after the

government of India allowed new private banks to established. The Bank was promoted jointly

by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life

insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and

other four PSU insurance companies, i.e. National Insurance Company Ltd., The Oriental

Insurance Company Ltd. and United India Insurance Company Ltd. the Bank today is capitalized

to the extent of Rs. 259.76 crores with the public holding (other than promoters) at 57.79%. the

Bank’s registered office is at Ahmadabad and its Central Office is located at Mumbai. The Bank

has a very wide network of more than 1281 branches and Extension Counters (as on 31st March

2011). The Bank has a network of over 6270 ATMs (31st March 2011) providing 24 hrs a day

banking convenience to its customers. This is one of the largest ATM networks in the country.

The bank has strengths in both retail and is committed to adopting the best industry practices

internationally in order to achieve excellence.

Promoters

Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the

country, UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs.

100 crore, LIC – Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each.

SUUTI – Shareholding 23.60%

Erstwhile Unit Trust Of India was set up as a body corporate under the UTI Act, 1963, with a

view to encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed

with the passage of Unit Trust Of India (Transfer of Undertaking and repeal) Act, 2002 by the

Parliament, paying the way for the bifurcation of UTI into 2 entities, UTI-I and UTI-II with

effect from 1st February 2003. In accordance with the Act, the Undertaking specified as UTI-I

has been transferred and vested in the Administrator of the specified undertaking of the Unit

Trust Of India (SUUTI), who manages assured return schemes along with 6.75% US-63 4

Bonds, 6.60% ARS Bonds with a Unit Capital of over Rs. 14167.59 crores.

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The government of India has currently appointed Shri K.N. Prithviraj as the Administrator of the

Specificied undertaking of UTI, to look after and administer the schemes under UTI-I, where

Government has continuing obligations and commitments to the investors, which it will uphold.

The Banks business is divided into four segments: retail, corporate, treasury and merchant

banking. Apart from this the bank is also into insurance, investment banking, mortgage

financing, credit cards, and depository services amongst others.

Financial performance

The bank’s operating revenue and operating profit have grown at a CAGR of 59% over the last

five years. Net Interest Income (NII) has grown at a CAGR of 63.4% over last five years while

fee and other income have grown at a CAGR of 58.2%. the growth in NII is attributed to the

expanding balance sheet size with average earning assets increasing at a CAGR of 55% over the

last five years.

Consistent growth

The bank’s net profit has grown by over 43% YoY in 36 out of the last 38 quaters. Also the two

quarters in which the profit did grow was on account of write off of extraordinary items (G-Sec

valued on mark to market basis). The net profit has grown by over 76% YoY in each of the last

eight quarters. The important performance indicators such as ROA, CAR, NPA and NIM have

remained strong over the last five years. Axis Bank comes very near to HDFC Bank in terms of

important efficiency parameters. As can be from the table above, the share of current account

saving account deposits in the total deposits (CASA) is higher in case of HDFC Bank. Also

HDFC Bank scores higher in terms of margins (NIM). However, looking at the returns generated

on net worth (ROE) and the growth in advances and deposits Axis Bank appears to be gearing up

well to reduce the gap existing in the margins as well as the total balance sheet size.

Strong asset quality notwithstanding balance sheet growth:

The Bank’s asset quality has improved over the years in spite of balance sheet expansion. Net

NPAs as a percentage to net customer assets have declined from 1.1% in FY 07 to 0.3% in FY

11. The Bank’s balance sheet has increased at a CAGR of 59% over the last five years.

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Expanding footprint, expanding balance sheet:

The bank has continued to expand its geographical coverage across the country. Over the last

five years, the total number of branches including centres of the bank more than 1281 whereas

ATMs have 6270 as on 31st March 2011. This has helped the bank particularly in the acquisition

of low cost retail deposits, retail assets, lending to agriculture, SME as mid-corporate as also the

sale of third-party products. The bank’s balance sheet has increased at a CAGR of 59% over the

last five years.

Key Positives

Market leadership position in the travel card segment

Market leader in the prepaid cards segment

Second largest merchant acquirer in the country

Leadership position in private placement of bonds and debentures till 31st December 2010

High quality of its assets

Stats:

Type PublicTraded as BSE: 532215  LSE: AXBC Industry Banking Financial services Founded 1995

Mumbai, IndiaHeadquarters

Key people Adarsh Kishore (Chairman)  Shikha Sharma (MD & CEO) Products Investment Banking  Commercial Banking  Retail banking   Private Banking Revenue 19,826.31 crore (US$4.42 billion)(2011)Net income 3,388.49 crore (US$755.63 million)(2011)TOTAL ASSETS US$ 40.121 billion (2010)EMPLOYEES 21,640 (2010)Website Axisbank.com

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Management – AXIS BANK

Name Designation

Adarsh Kishore Chairman

Shikha Sharma Managing Director and CEO

S. K. Chakrabarti Deputy Managing Director

J. R. Varma Director

R. H. Patil Director

Rama Bijapurkar Director

R. B. L. Vaish Director

M. V. Subbiah Director

K. N. Prithviraj Director

V. R. Kaundinya Director

S. B. Mathur Director

S. K. Roongta Director

Prasad R. Menon Director

R. N. Bhattacharyya Director

P. J. Oza Company Secretary

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Introduction to the Banking Industry

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Introduction

All countries of the world are having financial institutions called Banks. In fact, there is positive

relationship between growth of banks and economic development. However, banking institutions

has originated out of necessity and developed and expanded as per requirements of the society.

Origin of the word “Bank”

The English word “Bank” is derived from Italian word “Banco” and Banco means ‘Bench’ used

to sit and run the business of money lending and money changing.

Origin and Evolution of Banks

Banking business is an old as human history. As soon as human being started living together

borrowing and lending began which is the essence of banking business. Before 200 B.C.

Babylon age Egypt had banking business. In Babylon temples were used as banking business

center. In those days people used to keep their valuables (gold, ornaments) etc. With priest, who

was regarded as representative of God.

Development of Banking in India

In Kautily’s Arthashastra reference is available regarding rate of interest etc. Use of Hundi was

also known to Indian traders. However, 1st Indian Bank was established in 1720 as “Bank of

Bombay” in Mumbai.

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Definition of Bank

Section 5, clause (b) of Banking Regulation Act, 1949 reads as under:

“Banking is business of accepting deposits from the public for the purpose of lending or

investment, which are repayable on demand or otherwise and withdraw able by cheque, draft,

and order or otherwise”

Broad Function of Banks

Some of the functions of the banks are as follows:

Accepting Deposits – Banks depends on the funds received in form of deposits from the public.

In order to maximize resources, banks have developed different types of deposit accounts, such

as Current, Fixed, Saving etc.

Borrowing, raising or taking up of money the lending or advancing of money either upon or

without security, the drawing, making accepting discounting, buying, selling, collecting and

dealing in bills of exchange, promissory notes, coupons, drafts, bills of lading, granting and

issuing of letters of credit, travellers cheque. Negotiating of loans and advances, receiving all

kinds of bonds etc.

On deposit on for safe custody providing of safe deposit vaults, acting as agents for any

government or local authority or any other persons. Carrying on and transacting every kind of

guarantee and indemnify business. Managing, selling, etc. Any property that may come into the

possession of the bank. Undertaking and executing trusts etc. General Utility Services Promote

capital formation for business.

Role of Commercial in the Developing Economy

Banks create favourable environment for economic development. Economic development is a

process whereby saving, investments, production, employment, national income and living

standard all improve. Therefore, something must be done to encourage savings. Here, banks

perform the same function.

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Commercial Banks encourage savings deposits the same on one hand and make available the

same for investment and economic development.

The role of commercial Banks in economic development may be explained with the help of

following points:

Encourage Savings.

Mobilize Savings.

Supply capital for production.

Encourage industrialization.

Help balanced inter-sectoral and inter-reground development.

Boost Exports.

Create credit Money and help economic development.

Retail loans are primarily extended by the Bank through 64 Retail Asset Centres (RACs) in

select cities of the country. With the economy slowing down, there was pressure on the

unsecured loan book, mainly personal loans and credit cards. However the health of the

mortgage and automobile portfolios continued to be satisfactory, vindicating the Bank’s strategy

of focusing on prime customer segments and deploying robust, centrally-driven collection

processes. During the year under review, the bank has also started the process of consolidating

the collection and recovery processes under its subsidiary, Axis sales Ltd., to further improve

customer service.

The Bank has issued more than 5,33,000 credit cards since its launch in 2006 and today offers an

entire range of retail and commercial cards. It is the first Bank in India to offer the Platinum Visa

EMV Chip card. Credit card customers of the Bank are offered a variety of value-added services

such as balance transfers, EMI facility and Bill Pay. While the slowdown in the economy has

also adversely impacted the credit card portfolio, the Bank has taken corrective measures by

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rebalancing its portfolio, limiting credit card issuance to customers with existing relationships

with the Bank and strengthening the collection infrastructure.

Advances

Advances are classified into performing and non-performing advances (NPAs) as per RBI

guidelines and are stated net of specific provisions made towards NPAs. Further, NPAs are

classified into sub-standard, doubtful and loss assets based on the criteria stipulated by RBI.

Provisions for NPAs are made for sub-standard and doubtful assets at rates as prescribed by with

the exception for schematic retail advances, for which provisions are made in terms of a bucket-

wise policy upon reaching 63 specified stages of delinquency (90 days or more of delinquency)

under each type of loan, which satisfies the RBI prudential norms on provisioning.

Loss assets and unsecured portion of doubtful assets are provided/written off as per the extant

RBI guidelines. NPAs are identified by periodic appraisals of the loan portfolio by management.

For restructured/rescheduled assets, provision is made in accordance with the guidelines issued

by RBI, which requires the diminution in the fair value of the

Types of loans:

For running and establishment of the Axis Bank Ltd. Two types of capital are required.

Fixed Capital:

For acquiring fixed assets such as land, building, etc. These fixed assets cannot produce or earn

anything.

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Working Capital:

Money for purchasing/stocking of raw material, payment of salary, powers etc. It is useful to

meet the cost involved during the operating cycle/working capital cycle management of working

capital is the management of current assets, current liabilities and net working capital.

The loan can be broadly categorized into fund based and non-fund based as flows.

Fund Based Loan:

Overdraft

Cash Credit

Demand Loans

Term Loan

Bill Purchase/Discounting

Exports Finance

Secured Business Loan

Non-Fund Base

Bank Guarantee

Letter of credit

Fund Based:

The Lending of funds can be way of demand loans repayable on demand or tem loan repayable

over a period of time at agreed intervals. It can also by way of overdraft where credit limit up to

the amount to be lent is sent is sent in the current account or a cash current account where against

the security of stock or receivable a limit up sanctioned level of lending is same avaible to the

borrower in the limit as per this requirement. Lending can also take the form of bill discounting

where the banks lends against bill of exchange drawn in favors of the discounting where the

banks lends against bill of exchange drawn in favors of borrower but payable at future date by

placing the amount of the bill. Discount charges at the disposal of the borrower by discounting

the bill.

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Overdraft:

When a customer maintaining a current account is allowed by the bank to draw more than the

credit balance in the account, such facility is called an ‘overdraft facility’. At the request and

requirement of customer’s temporary overdraft are also allowed. However against certain

securities, regular overdraft limits are sanctioned silient features of this type of account are as

under. Overdraft is running account and hence debits and credits are freely allowed. Interest is

applied on daily product basis and debited to theaccount on monthly basis. Overdrafts are

generally granted against against the government securities, shares and debentures, LIC policies

and banks own deposits etc. and also on unsecured basis.

Temporary overdraft should be allowed only on return of customer, a letter of recording should

be obtained from a customer when temporary overdrafts should be granted to meet the short-term

requirement of customer.

Cash Credit:

A cash credit is an arrangement to extent short-term working capital facility under which the

bank establishes a credit limit and allows a customer to borrow money up to a certain limit. The

bank sanction a limit a cash credit limit to each borrower up to which he is allowed to borrow

against the security of stipulated tangible assets i.e. stocks. The customer needs not to draw at

once the whole of the credit limit sanctioned but can withdraw from his cc accounts as when he

needs the funds and deposits surplus cash proceeds of a sales etc. into the account. Features of cc

are as under.

Sanction of limit:

CC Limit si sanctioned after taking into account several factors detailed later in the product note.

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Running account:

A CC account is an active running account. There are no restrictions as regard number or debit

and credit transaction in the account. Repayment of CC facility is technically repayable on

demand and there is non-specific date on repayment. Application of interest and service charges.

Interest is calculated on daily product basis applied on calendar monthly basis. For credit balance

laying in CC account no interest is payable as CC account is in nature of current account. Service

charges as per current account rule are to be levied.

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Milestone

Apr-2010:  Name of Axis Sales Ltd changed to Axis Securities and Sales Ltd, in View of launching broking business

Mar-2010:  Axis Sales Ltd earns a revenue of Rs. 100 Crore

Jan-2008:  Axis Sales Ltd launches Schematic loan (SME) Business

Oct-2007: Axis Sales Ltd launches its insurance business in alliance with MetLife India Insurance Company Ltd under a   "Corporate Agency" Tie-up  

Sep-2007: Fiftieth branch office of Axis Sales Ltd opened at Jabalpur

Aug-2007: Name of UBL Sales Ltd changed to Axis Sales Ltd in alignment With change of name of UTI Bank to Axis Bank

Jul-2007: UBL Sales Ltd crossed manpower count of 5000 employees Jul-2007: UBL Sales Ltd launches the business of marketing of Online

Trading Services offered by Axis Bank in alliance with Geojit Financial Services Ltd

Mar-2007: UBL Sales Ltd launches Merchant Acquiring Business

Feb-2007: UBL Sales Ltd launches Auto Loan Business

Nov-2006: UBL Sales Ltd crossed manpower count of 1000 employees

Sep-2006: First branch office of UBL Sales Ltd opened at Bangalore

Aug-2006: Commencement of operations by UBL Sales Ltd in marketing of Home Loan, Personal Loan and Credit Card

May-2006: UBL Sales Ltd receives certificate of Commencement of Business

Dec-2005: Incorporation of “UBL Sales Ltd”

Oct-2005: Board of Directors of UTI Bank passes a resolution for formation of A sales and services subsidiary, UBL Sales Ltd

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BUSINESS LINE

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SERVICES PROVIDED BY AXIS BANK

1) Consumer banking

2) NRI services

3) Retail Loans

4) Corporate banking

5) Treasury Capital Markets

6) Financial advisory services.

Other Services

Accounts

• EasyAccess Savings Account

• Prime Savings account

• Salary Savings Account

• Power salute: A salute to the

defence forces

• Azaadi

• Senior Privilege Savings

Account

• For the woman of today –

Smart Privilege Savings

Account

• A complete banking solution

for Trusts, Associations,

Societies, Government Bodies,

Section 25 companies and NGOs

• Pension Savings Bank

Account,

Deposits

• Fixed Deposits

• Recurring Deposits

• Encash 24

• Tax Saver Fixed Deposit

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Loans

• Power Homes

• Power Drive

• Personal Power

• Study Power

• Asset Power

• Two Wheeler Loan

• Loan Against Security

• Consumer Power

Cards

Apart from Gold & Silver credit

cards, Axis Bank provides

• Axis Bank Meal Card

• Axis Bank Gift Card

• LIC co-branded Annuity Card

Capital Markets

• Debt Solutions

• Equity Solutions

• Private Equity, Mergers &

Acquisitions

• Advisory Services

• Trusteeship Services

• Depository Services

• Capital Market Funding

• e-Broking

Credit

• Working Capital Finance

• Term Loans

• Trade Services and Trade

Finance

• Structured Finance

• Supply Chain Management

• Overseas Financing and

Transactions

• SME Standard Products

• Power Trac

AXIS BANK Personal LoanIntroduction

Axis bank offers personal loan under personal power scheme. Salaried

persons, self employed individuals, professionals can apply for personal

loan. Bank has simple procedure, minimal documentation and speedy

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approval process of the loan. Bank also gives balance transfer facility for

those who want to retire any higher cost debt.

HighlightsLoan Scheme Salaried Self Employed

Loan Type Personal Power Personal PowerLoan Amount Term Loan Term Loan

Tenure The loan amount sanctioned is dependant on the income and other eligibility criteria of applicants

The loan amount sanctioned depends on the income and other eligibility requirements of the applicant.

Interest Rate Min. - 12 Yrs. Min. - 12 Yrs.Min. - 15 %Max. - 22 %

Min. - 15 %Max. - 23 %

Fees & chargesSalaried Self Employed

Processing Fee 2 % 2 %

AXIS BANK LAUNCHES AXISREMIT SERVICE FOR NRIS

NRI customers can use Axis Remit to transfer money online from their local bank

account to the receiver's account anywhere in India.

Wednesday, November 19, 2008:  Axis Bank has tied up with Times of Money, India's

non-bank e-payments service provider, to launch a new online remittance service – Axis

Remit. With Axis Remit, the bank will provide high-speed online money transfer services

for NRIs belonging to major geographies viz. USA, UK, Euro Zone (Euro Currency

Area), Canada, Australia, Singapore, Hong Kong and UAE using Times of Money's

white-labelled remittance platform.

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Times of Money's solutions will provide the technology platform for Axis Remit. The

back-office functions relating to remittances would also be handled by Times of Money.

Hemant Kaul, executive director, retail banking, Axis Bank, said, "Axis Remit is the new

online remittance service from Axis Bank, representing a significant entry of the Bank

into the fast growing remittance business. Under this service, NRI customers in USA,

UK, Europe, Australia, Singapore, Hong Kong and UAE would be able to use Axis

Remit to transfer money online from their local bank account to the receiver's account

anywhere in India. In recent years, there has been a large-scale migration of NRIs to

online remittance channels from traditional remittance routes, and we intend to be a

major player in this arena. The key strengths of Axis Remit will be our transparent

pricing policy, superior customer service and faster Turn-Around-Time."

"We are proud to partner with Axis Bank to launch this very significant service for NRIs

and be an enabler of the cross border flows that make India the world's largest destination

of inward remittances," added Avijit Nanda, president, Times of Money.

AXIS BANK iCONNECT

Axis Bank iConnect or Internet banking service brings the entire bank to you in just a

split second with a mere click of your mouse. Nor you can check your axis bank account

status, submit for any queries online and carry out instant transactions to and from your

Axis/ UTI Bank accounts.

All you have to do is register yourself for axis bank net banking by filling up an

application form available for download on axis bank official website or from the axis

bank branches.

You will be notified of the activation of your Internet banking account, and a

username and I-PIN (internet personal identification number) will be issued to you by the

bank. Now all you have to do is fill in your Axis Bank Internet login in the net banking

username box on the Axis Bank Website homepage. You will then be directed to your

respective bank account and will be able to carry out any necessary transactions.

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The basic features of Axis Bank online banking facility

include:

Balance enquiry for savings account, current or corporate accounts, term deposits and

loan accounts.

Online transactions

Ministatement of past six transactions

Access to personal account information

Cheque Book requests

Direct credits and debits to your account

Check status of the instruction

Payment Gateway for online utility and other bill payments

AXIS BANK, TIMES OF MONEY JOIN HANDS

Mumbai: Axis Bank, has tied up with Times of Money to launch Axis Remit, the

bank's own branded online remittance service.

Times of Money is a leading non-bank e-payments service provider.

With Axis Remit, the bank will provide high-speed online money transfer services

for NRIs belonging to the US, UK, Euro zone, Canada, Australia, Singapore,

Hong Kong and the UAE, using Times of Money's remittance platform and know-

how, a press release issued here said.

Times of Money's white-labelled `hosted on demand' solutions will provide the

technology platform for Axis Remit and the back-office functions relating to

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remittances would also be handled by Times of Money.

"This alliance integrates Axis Bank's core strengths in NRI banking and service delivery

with Times of Money's domain knowledge and technical expertise in cross-border

remittances, creating a smoother and satisfying remittance experience to NRIs situated

across the globe," the release said.

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SWOT ANALYSIS

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Opportunities and Threats

Opportunities

● Being part of the India’s growth story

● Utilize the emerging opportunity of getting the wallet share of the burgeoning middle

class

● Utilize technology to provide solutions to customers

● Increase distribution strength

Threats

● Volatile environment

● Fiscal deficit

● Inflation

● Increasing interest rates

● Competition

● Rising crude prices and commodity prices

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Outlook

Axis Bank results for the financial year demonstrate the strong fundamental growth in the India

story. However, concerns remain on inflation, rising prices of commodities including crude and

current account deficit. The Group believes that the economic scenario offers immense

opportunities for it to grow in scale and reach coupled with value creation.

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Home Loan

Quick and easy home loans

Need help buying a home?

Axis Bank offers affordable and flexible housing loans that can turn your dream of owning a

home into reality.

If rising real estate prices have pushed the house you coveted beyond your budget, Axis Bank?

Unmatched home loans will put it within reach. The attractive interest rates and minimal

processing fees make our home finance products a first choice for savvy buyers. In addition,

features such as flexible tenures, transparent processing and quick service have made our

products stand out among the best home loans in India.

We have products to suit every budget, taste and need. Whether you are self-employed or

salaried, want a floating or fixed rate, Axis Bank will offer a loan that is just right for you.

Features of Axis Bank Home Loans

Axis Bank housing loans are designed for today?s home-hunter. Our easy home loans are rich in

features and offer a number of benefits.

Attractive housing finance rates: We offer attractive interest rates that make your

housing loans affordable and easier on your pocket every month.

Flexible rates: Choose between fixed and floating rate options depending on which way

you think interest rates are moving.

Balance transfer facility: Not satisfied with your existing home loan provider? You

can transfer your home loan to us without any hassles.

Doorstep service: You don't have to go the bank for home loans; the bank will come to

your doorstep. Perfect for those leading busy lives.

Nil prepayment charges: Come into some money and want to pay off your housing

loan early? You can do that at Axis Bank without worrying about prepayment charges.

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Home Loan

Loan Purposes

Axis Bank offers affordable and flexible housing loans that can turn your dream of owning a

home into reality.

If rising real estate prices have pushed the house you coveted beyond your budget, Axis Bank's

unmatched home loans will put it within reach. The attractive interest rates and minimal

processing fees make our home finance products a first choice for savvy buyers. In addition,

features such as flexible tenures, transparent processing and quick service have made our

products stand out among the best home loans in India.

We have products to suit every budget, taste and need. Whether you are self-employed or

salaried, want a floating or fixed rate, Axis Bank will offer a loan that is just right for you.

Land Loan features and benefits

You can use the land purchase loan to buy a plot of land and to construct the house.

You can take a land loan to build a house on a plot of land that you already own.

The land loan can be used to buy a new house/ flat.

Purchase an old house/ flat. To avail of the loan, the residual age of the property as confirmed by

our empanelled valuators at the maturity of the loan should not be less than 10 years.

Takeover of existing housing loans.

Home Improvement Loan features and benefits

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You can use our home improvement loans for a variety of purposes. You can utilize it to make

renovations, paint the house, carry out repairs to the walls and floor etc.

You also get the benefit of attractive interest rates on home renovation loans.

Eligibility

Axis Bank offers loans to a variety of individuals. Home loan eligibility is

determined by various factors such as income, employment status, tenure

and so on. Our aim is to provide affordable housing loans to as many

individuals and families as possible.

Home Loan Eligibility criteria

1. Salaried Individuals

Individuals in permanent service in the Government or reputed companies meet our home

loan eligibility criteria.

Applicants should be above 24 years of age at the time of loan commencement and up to the

age of 60 or superannuation, whichever is earlier at the time of loan maturity.

2. Professionals

Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost

accountants, company secretary, management consultants only) can apply.

Applicants above 24 years of age at the time of loan commencement and up to 65 years or

less at the time of loan maturity meet our housing loan criteria.

3. Self Employed Individuals

Applicants should be above 24 years of age at the time of loan commencement and up to

65 years or less at the time of loan maturity

Documents Required for Home Loan

While we try to keep paperwork and formalities to a minimum, some documents are required for

a home loan. Axis Bank will require documents that provide proof of your identity, address,

income and so on. Once you submit your documents, getting an Axis Bank loan is a quick and

easy process.

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List of home loan documents required

The following documents are required along with your loan application:

Purpose Salaried OthersProof of identity Voter's ID card or driving license or PAN card

or photo credit card or employees ID card or defense or police or government department ID card

Voter's ID card or driving license or PAN card or photo credit card

Proof of income Latest salary slip showing all deductions or Form 16 along with recent salary certificate

IT returns for the last 2 years and computation of income for the last 2 years certified by a CA

Proof of residence

Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement

Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or latest NSC or other similar instruments indicating the address

Bank statement or Pass Book where salary or income is credited

Last 6 months Last 6 months

Guarantor form Optional Optional

Loan Amount

Limits on home loan

Minimum - Rs 1 lac

Maximum - Rs 50 lacs

Margin

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15% in case of Home loans

25% in case of improvement or renovation loans

Interest Rates & Charges

Interest Rates:

Sr. No

Type Loan amount (Rs.) Base Rate + Mark Up

Effective Rate Of Interest

1 Floating Rate

Less than Rs. 25 Lac Base Rate + 0.75%

10.75% p.a.

Loans greater than Rs.25 lac - Rs. 75 lac

Base Rate + 1.00%

11.00% p.a.

Loans greater than Rs. 75 lac

Base Rate + 1.25%

11.25% p.a.

Top Up - All loans, Renovations

Base Rate + 2%

12.00% p.a.

2 Fixed Rate

All Loan Category - 14% p.a.

Base Rate - 10.00%

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Sr. No Loan amount (Rs.) Margin

1 For Housing Loan upto Rs.20 Lacs 15%

2 For Housing Loan above Rs.20 Lacs 20%

3 Improvement or renovaton loans 25%

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Scheme Loan Processing Charges

Prepayment Charges

No Due Certificate

Solvency Certificate

Charges for Late Payment of EMI

Charges for changing from fixed to floating rates of interest

Charges for changing from floating to fixed rates of interest

Power Home

1% + Service tax as applicable

Nil NA NA Rs 500 + taxes per cheque bounce and a penal interest @24% per annum i.e. @ 2% per month on the overdue installment/s

Min. Rs. 5000 or 1% of the outstanding amount whichever is higher

Min. Rs. 5000 or 1% of the outstanding amount whichever is higher

Other Charges:

Sr. No Type Charges1 Repayment Instruction/Instrument Return charges Rs.500/- per instance2 Cheque/Instrument Swap charges Rs.500/- per instance3 Duplicate Statement issuance charges Rs. 250/- per instance4 Duplicate Amortization schedule issuance charges Rs. 250/- per instance5 Duplicate Interest Certifcate (Provisional/Actual) issuance charges Rs. 250/- per instance6 Issuance charges for Photocopy of title documents Rs.250/- per document set7 Charges on customer initiated requests for copies of documents Rs. 250 per document set

Switching Cost:

Switching from the Floating rate scheme to the Fixed rate scheme and vice versa is permissible.

If a fixed rate customer wants to reschedule the loan to a lower interest rate, the same is also

permissible

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Terms and Conditions:

Repayment

Repayment period for home loans shall not exceed 25 years.

Repayment period of pre-allotment bookings of housing loans shall not exceed 1½ year

Repayment period of improvement or renovation or extension of existing property shall not

exceed 10 years.

Security

Equitable mortgage of the property to be financed by way of deposit of title deeds.

Disbursement

The loan will be disbursed in full or in suitable installments, taking into account the requirement

of funds and progress of construction, as assessed by the Bank directly to seller or builder or

local development authority or supplier of materials etc.

Processing charges or admission fee

Processing fee equivalent to 1% of the loan amount (applied for) will be collected along with the

application form (taxes as applicable).

Penalty for early closure

Nil

Other Conditions Bank reserves the right to reject any application without assigning reasons thereof

The applicant will undertake to inform the Bank as and when there is a change in address or

employment

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The terms and conditions mentioned above and elsewhere under the scheme are subject to

modification from time to time solely at Bank's discretion.

Checklist

Disbursement checklist – Housing loanName of the applicantSr. No.

Particulars

1 FI report , RV , OV2 Technical report3 Legal report(In case of APF, number to be mentioned )4 PD report (10 lacks & above ) sign by RAC Head5 Approval Note taken6 CAS sheet taken & signed7 Sanction queries solved & conditions fulfilled8 CAM sheet signed9 CIBIL Report signed10 Processing fee recovered & receipt on the file11 Demand Letter12 Disbursal authority from customer13 NOC14 OCR15 Loan agreement (stamped & signed by the App. & co.

App. )16 Undertaking & affidavit in case of BT signed by the App.

& co. App.17 Vernacular Indemnity & Declaration to be signed by

applicant18 Original property Document19 Guarantee Form / LIP if applicable20 Sanction letter signed by the App. & co. App21 Insurance letter signed by the App. & co. App.22 Post-dated chq taken 23 SL taken ( in-case applicable)24 ESC taken ( in-case applicable)

RM comments/ PDD’s if any Date

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Other conditions :-

Bank reserves the right to reject any application without assigning reasons thereof.

The applicant will undertake to inform the bank as and when there is a change is in

address or employment.

The terms and conditions mentioned above and elsewhere under the scheme are subject

to modification form time to time solely at Bank’s discretion.

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Research Methodology

Research is a structured enquiry that utilizes acceptable scientific methodology to solve

problems and create new knowledge that is generally applicable. Scientific methods consist of

systematic observation, classification and interpretation of data. Although we engage in such

process in our daily life, the difference between our casual day- to-day generalisation and the

conclusions usually recognized as scientific

method lies in the degree of formality, rigorousness, verifiability and general validity of latter.

Methods of Data Collection:

There are two types of data

Primary Data — collected for the first time

Secondary Data - Those which have already been collected and analyzed by

someone else.

Methods of Primary Data Collection

OBSERVATION METHOD:

Commonly used in behavioural sciences It is the gathering of primary data by investigator’s own

direct observation of relevant people, actions and situations without asking from the respondent

e.g.

• A hotel chain sends observers posing as guests into its coffee shop to check on cleanliness and

customer service.

• A food service operator sends researchers into competing restaurants to learn menu items

prices, check portion sizes and consistency and observe point-of purchase merchandising.

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Types of Observation:

1. Structured – for descriptive research

2. Unstructured—for exploratory research

3. Participant Observation

4. Non- participant observation

5. Disguised observation

Limitations:

- Feelings, beliefs and attitudes that motivate buying behavior and Infrequent behavior cannot be

observed.

- Expensive method Because of these limitations, researchers often supplement observation with

survey research.

SURVEY METHOD

Approach most suited for gathering descriptive information. Structured Surveys: use formal lists

of questions asked of all respondents in the same way. Unstructured Surveys: let the interviewer

probe respondents and guide the interview according to their answers.

Survey research may be Direct or Indirect. Direct Approach: The researcher asks direct questions

about behaviors and thoughts e.g. Why don’t you eat at MacDonald’s? Indirect Approach: The

researcher might ask: “What kind of people eat at MacDonald?”

From the response, the researcher may be able to discover why the consumer avoids

MacDonald’s. It may suggest factors of which the consumer is not consciously aware.

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ADVANTAGES:

-can be used to collect many different kinds of information

-Quick and low cost as compared to observation and experimental method.

LIMITATIONS:

-Respondent’s reluctance to answer questions asked by unknown interviewers about things they

consider private.

-Busy people may not want to take the time

-may try to help by giving pleasant answers

-unable to answer because they cannot remember or never gave a thought to what they do and

why

-may answer in order to look smart or well informed.

Secondary Data:

At the outset of the chapter a strong case is made for studying secondary data before engaging in

primary research. The potential benefits of beginning any study with secondary data are outlined,

including the prospect that in some cases possession of relevant secondary data may obviate the

need for primary research to be undertaken at all. This discussion is followed by an overview of

the questions that should be asked when evaluating secondary sources and data in terms of their

validity and accuracy. Thereafter, the principal internal and external sources of secondary data

are described. The final section of this chapter briefly points towards future developments in the

storage and retrieval of secondary data. Mention is made of electronic systems like the Internet

and CD-ROMs.

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Secondary data may be available which is entirely appropriate and wholly adequate to

draw conclusions and answer the question or solve the problem. Sometimes primary data

collection simply is not necessary.

It is far cheaper to collect secondary data than to obtain primary data. For the same level

of research budget a thorough examination of secondary sources can yield a great deal

more information than can be had through a primary data collection exercise.

The time involved in searching secondary sources is much less than that needed to

complete primary data collection.

Secondary sources of information can yield more accurate data than that obtained through

primary research. This is not always true but where a government or international agency

has undertaken a large scale survey, or even a census, this is likely to yield far more

accurate results than custom designed and executed surveys when these are based on

relatively small sample sizes.

It should not be forgotten that secondary data can play a substantial role in the

exploratory phase of the research when the task at hand is to define the research problem

and to generate hypotheses. The assembly and analysis of secondary data almost

invariably improves the researcher's understanding of the marketing problem, the various

lines of inquiry that could or should be followed and the alternative courses of action

which might be pursued.

Secondary sources help define the population. Secondary data can be extremely useful

both in defining the population and in structuring the sample to be taken. For instance,

government statistics on a country's agriculture will help decide how to stratify a sample

and, once sample estimates have been calculated, these can be used to project those

estimates to the population.

Secondary sources of information may be divided into two categories: internal sources and

external sources.

Internal sources of secondary information

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Sales data : All organisations collect information in the course of their everyday operations.

Orders are received and delivered, costs are recorded, sales personnel submit visit reports,

invoices are sent out, returned goods are recorded and so on. Much of this information is of

potential use in marketing research but a surprising amount of it is actually used. Organisations

frequently overlook this valuable resource by not beginning their search of secondary sources

with an internal audit of sales invoices, orders, inquiries about products not stocked, returns from

customers and sales force customer calling sheets. For example, consider how much information

can be obtained from sales orders and invoices:

Sales by territory

 Sales by customer type

 Prices and discounts

 Average size of order by customer, customer type, geographical area

 Average sales by sales person and

 Sales by pack size and pack type, etc.

This type of data is useful for identifying an organisation's most profitable product and

customers. It can also serve to track trends within the enterprise's existing customer group.

Financial data: An organisation has a great deal of data within its files on the cost of

producing, storing, transporting and marketing each of its products and product lines. Such data

has many uses in marketing research including allowing measurement of the efficiency of

marketing operations. It can also be used to estimate the costs attached to new products under

consideration, of particular utilisation (in production, storage and transportation) at which an

organisation's unit costs begin to fall.

Transport data: Companies that keep good records relating to their transport operations

are well placed to establish which are the most profitable routes, and loads, as well as the most

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cost effective routing patterns. Good data on transport operations enables the enterprise to

perform trade-off analysis and thereby establish whether it makes economic sense to own or hire

vehicles, or the point at which a balance of the two gives the best financial outcome.

Storage data: The rate of stockturn, stockhandling costs, assessing the efficiency of certain

marketing operations and the efficiency of the marketing system as a whole. More sophisticated

accounting systems assign costs to the cubic space occupied by individual products and the time

period over which the product occupies the space. These systems can be further refined so that

the profitability per unit, and rate of sale, are added. In this way, the direct product profitability

can be calculated.

External sources of secondary information

The marketing researcher who seriously seeks after useful secondary data is more often surprised

by its abundance than by its scarcity. Too often, the researcher has secretly (sometimes

subconsciously) concluded from the outset that his/her topic of study is so unique or specialised

that a research of secondary sources is futile. Consequently, only a specified search is made with

no real expectation of sources. Cursory researches become a self-fulfilling prophecy. Dillon et.

al3 give the following advice:

"You should never begin a half-hearted search with the assumption that what is being sought is

so unique that no one else has ever bothered to collect it and publish it. On the contrary, assume

there are scrolling secondary data that should help provide definition and scope for the primary

research effort."

The same authors support their advice by citing the large numbers of organisations that provide

marketing information including national and local government agencies, quasi-government

agencies, trade associations, universities, research institutes, financial institutions, specialist

suppliers of secondary marketing data and professional marketing research enterprises. Dillon et

al further advise that searches of printed sources of secondary data begin with referral texts such

as directories, indexes, handbooks and guides. These sorts of publications rarely provide the data

in which the researcher is interested but serve in helping him/her locate potentially useful data

sources.

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The main sources of external secondary sources are (1) government (federal, state and local) (2)

trade associations (3) commercial services (4) national and international institutions.

Sampling plan

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The sampling plan designed for the project is as follows:

Sampling Unit (Who is to be surveyed): As the project title suggests, we want to

understand the pain areas and satisfaction level of home loan sales and customers. We

survey existing customer.

Sample size: The project is requires to be completed in 60 days time. Hence, the

target number of respondents was 200 customers. Also note that data points as per the

objectives may differ.

Sampling Procedure: The entire sampling population was spread across the city

of Pune. The sampling method used was deliberate sampling technique i.e. non-

probability sampling.

Data analysis, qualitative and quantitative, through coding, tabulation and drawing

statistical inferences. Microsoft Excel was the tool used to carry out this analysis.

Interpretations and generalizations are made while analyzing the data.

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Data collection procedure

Sample size 100

Method of Data collection Questionnaire

Contact method Personal interview

Regions covered Pune

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QUESTIONNAIRE

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THE QUESTIONNAIRE:

Personal details

Name of Customer: ---------------------------------------------

Address: --------------------------------------------------------------------

Contact person & no. -----------------------------------------------------

Age ------------------------------------

(Please tick only)

Question 1: What is your occupation?

Ans: (a) Service (b) Business (c) Student (d) Other

Question 2: In which age group do you come?

Ans: (a) Below 20 (b) 20-25 (c) 30-35 (d) 35-45 (e) Above 45

Question 3: What is your monthly Income?

Ans: (a) 5000-10000 (b) 10000-40000 (c) 40000-100000 (d) Above 100000

Question 4: Would you prefer to take loan from axis bank?

Ans: (a) Yes (b) No (c) Can Not Say

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Question 5: What amount of loan would like to take?

Ans: (a) 50000 (b) 100000 (c) 100000-150000 (d) 150000-200000 (e) Above 200000

Question 6: What kind of image do you have for Axis Bank Home Loan?

Ans: (a) Very Good (b) Good (c) Bad (d) Can Not Say

Question 7: Would you like to maintain long-lasting relationship with Axis Bank Home Loan?

Ans: (a) Yes (b) Depends on Situation (c) No

Question 8: Are you satisfied with Axis Bank Home Loan’s services?

Ans: (a) Satisfied (b) Partially Satisfied (c) Not Satisfied

Question 9: Do you wish to change your bank?

Ans: (a) No (b) Conditional (c) Yes

Question 10: Have you taken loan from any other bank also?

Ans: (a) Yes (b) No

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Question 11: What make you choose a bank for loan?

Ans: (a) Better Services (b) Charges (c) Time (d) Proximity To Your Office or Home?

Question 12: What kind of bank would you prefer for loan?

Ans: (a) Public sector (b) Pvt. Sector (c) Cooperative Banks

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Axis Bak HDFC ICICI Any other0

10

20

30

40

50

60

70

80

90

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Question 1: What is your occupation?

Ans: (a) Service (b) Business (c) Student (d) Other

Objective: To know which sector of the society prefer taking loan most

44%

33%

8%

15%

Occupation

ServiceBusinessStudentOther

Interpretation: Above graph shows that mostly people belonging to the service and business

class, prefer taking loan.

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Axis Bak HDFC ICICI Any other0

10

20

30

40

50

60

70

80

90

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Question 2: In which age group do you come?

Ans: (a) Below 20 (b) 20-25 (c) 30-35 (d) 35-45 (e) Above 45

Objective: To know which age group has the potential to take home loan

7%

10%

32%38%

13%

Age Group

Below 20 20-25 30-35 35-45 Above 45

Interpretation: Above graph shows that people belonging to the age group 35-45 prefer taking

home loan more as compare to other

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Question 3: What is your monthly Income?

Ans: (a) 5000-10000 (b) 10000-40000 (c) 40000-100000 (d) Above 100000

Objective: To know which has preferred home loans more.

4%

39%

44%

13%

Monthly Income

5000-10000 10000-40000 40000-100000 Above 100000

Interpretation: From the graph we can see that 40000-1000000 are most prefer to take loan

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Question 4: Would you prefer to take loan from axis bank?

Ans: (a) Yes (b) No (c) Can Not Say

Objective: to know interest of people, In taking home loan from Axis Bank.

63%

18%

19%

Customers Preference

YesNoCan Not Say

Interpretation: Above graph shows that people prefer taking loan from Axis Bank.

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Question 5: What amount of loan would like to take?

Ans: (a) 50000 (b) 100000 (c) 100000-150000 (d) 150000-200000 (e) Above 200000

Objective: To know the preferred amount of loan that customer would like to take

4%

12%

10%

29%

45%

50000100000100000-150000150000-200000Above 200000

Interpretation: Above graph shows that maximum number of people would take loans in the

range of Above 200000

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Question 6: What kind of image do you have for Axis Bank Home Loan?

Ans: (a) Very Good (b) Good (c) Bad (d) Can Not Say

Objective: To know about the customer’s view on Axis Bank

20%

52%

26%

1%

Very GoodGoodBadCan Not Say

Interpretation: Above graph shows that Most of the customers are happy with the service of

Axis Bank

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Question 7: would you like to maintain long-lasting relationship with Axis Bank Home Loan?

Ans: (a) Yes (b) Depends On Situation (c) No

Objective: To know about the success of Axis Bank home loan regarding customer’s long term

engagement

41%

38%

21%

YesDepends on SituationNo

Interpretation: By the graph we can see most of customer are happy with home loan of Axis

Bank and would prefer to continue with it.

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Question 8: Are you satisfied with Axis Bank Home Loan’s services?

Ans: (a) Satisfied (b) Partially Satisfied (c) Not Satisfied

Objective: To know about the customer’s satisfaction level with Axis Bank

36%

48%

16%

satisfiedPartially satisfiedNot Satisfied

Interpretation: From above graph shows that Axis Bank has successes in keeping well with the

customer’s expectation

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Question 9: Do you wish to change your bank?

Ans: (a) Yes (b) Conditional (c) No

Objective: To know customer’s view on other bank

15%

38%

47% YesConditionalNo

Interpretation: Most of the customers do not wish to change their bank for home loan services

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Question 10: Have you taken loan from any other bank also?

Ans: (a) Yes (b) No

Objective: To know whether are engaged in taking loans from multiple bank

73%

27%

YesNo

Interpretation: Above graph shows that 73% customers have not taken loan from any other

bank

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Question 11: What make you choose a bank for loan?

Ans: (a) Better Services (b) Charges (c) Proximity to Your Office or Home

Objective: To know factor that affect people choice to take loan from bank

24%

62%

14%

better services chargesproximity to your Office or home

Interpretation: Above graph shows that charges factor plays the key role in positively affecting

customer’s preferences for taking loan

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Question 12: What kind of bank would you prefer for loan?

Ans: (a) Public sector (b) Pvt. Sector (c) Cooperative Banks

Objective: To know about the bank which proves to be reliable for customers?

67%

23%

10%

Public sector Pvt. SectorCooperative Banks

Interpretation: Above graph shows that most of the people find Public Sector Banks as most relaible one

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Results and conclusions

From the above data analysis we conclude that

1. There is huge chunk of data which is filtered i.e. bad data. Bad Data

means redundant data, or contact numbers are improper etc.

2. Satisfaction level for kotak Mahindra bank in their existing customers is

good.

3. People prefer ICICI and HDFC as major banks apart from kotak.

4. Rate of closure depends on Data, Sales person’s ability and customer

requirement

5. ROI can be improved

Recommendations

1. I Strongly recommend proper data management and CRM system

implementation

2. Most calls are either redundant or with invalid contact so sales

persons efficiency is affected

3. Targets are achieved in systematic manner and feedback analysis

is necessary

4. Cross selling is required to be done in more aggressive manner as

kotak as various options like credit card, Loan, Term Deposits etc.

5. Retaining existing customer is a big challenge as banks like HDFC,

Axis are big competitor to Kotak

6. Various more teaser offers like Active Money alongwith current

account to be introduced as Kotak has an added advantage in

business banking segment.

7. Promotional activities and social media awareness through internet

is required by Kotak Mahindra Bank

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Limitations of Project

1. Timeline of project is short so to understand complete sales cycle and to

streamline the process includes practical implementation by gradual

improvement and not by research

2. Sample size reflects the nature and result of research so greater sample size

would yield better results

Project was vast enough to draw out conclusions which are very narrow in nature.

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BIBLIOGRAPHY

i. Books : Intro of Marketing by Philip Cotler, fundamentals ofMarketing by MV kulkarni. Services Marketing by ZiethmalandBitner. Service marketing by GS Batra.

ii. Websites : www.kotak.com

iii. Private Firms : consultancy servicesiv. News Papers : Economics Times, Business Standard, DNA Business,

Times of India, Indian Express

v. Journals : India Today, Business Today, Business World, Chronicles.

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