PREFACE

I am pleased to present the project report on "Kotak Mahindra Life

Insurance Ltd. Jabalpur ” before my respected readers. It is a humble

attempt from my part to judge consumer behavior for the effectiveness of

existing and self designed ad-copy of Spices.

This study deals with a number of topics, which will help the reader

understand and learn how consumers make consumption decisions

regarding Spices.

Language of the report is simple and lucid. Attempts have been made to

arrange the subject matter in a systematic and well-knit style. Efforts have

also been made to deal with all topics precisely and gently.

I express thanks to all those prolific teachers and experts of management

whose theories and ideas have been incorporated in this project report.

Despite of this it is very difficult to be perfect to the core and mistakes do

creep in for which I extend my apology and carve the hospitality of the

readers to point them out. Their criticism and suggestions for the

improvement in future are welcomed.

HANMAT SINGH LODHI

ACKNOWLEDGEMENT

Preparing a project of this nature is an arduous task and I was

fortunate enough to get support from a large number of persons. Iwish to

express my deep sense of gratitude to all those who generously helped in

successful completion of this report by sharing their invaluable time and

knowledge.

It is my proud and previledge to express my deep regards to Respected

Mr. Jayant Dubey, Head, Faculty Of M.B.A. Department, B.T.I.R.T.

Collage, Sironja Sagar for allowing me to undertake this project.

I feel extremely exhilarated to have completed this project under the able

and inspiring guidance of Mr. Manish Shrivastava He rendered me all

possible help and guidence while reviewing the manuscript in finalising the

report.

I also extend my deep regards to my teachers, family members, friends

and all those whose encouragement has infused courage in me to

complete the work successfully.

HANMAT SINGH LODHIM.B.A. IV SEM

CERTIFICATE

Date:

The project report titled “KOTAK MAHINDRA LIFE INSURANCE LTD.

JABALPUR” has been prepared by MR. HANMAT SINGH LODHI, , under

the guidance and supervision of MR. MANISH SHRIVASTAVA, for the

partial fulfillment of the degree of M.B.A. IV SEM.

Signature of the Signature of Signature of

Supervisor: Head of the the examiner

Department:

DECLARATION BY THE CANDIDATE

Date:

I declare that the project report titled “KOTAK MAHINDRA LIFE

INSURANCE LTD. JABALPUR” is my own work conducted under the

supervision of MR. MANISH SHRIVASTAVA Department Of Business,

Management, Faculty Of M.B.A. Department, B.T.I.R.T. COLLAGE

SIRONJA SAGAR. To the best of my knowledge the report does not

contain any work, which has been submitted for the award of any degree,

anywhere.

HANMAT SINGH LODHIM.B.A. 4TH SEM

TABLE OF CONTENTS Preface

Acknowledgment

Declaration

Certificate

1. Introduction of Kotak Mahindra Life Insurance Ltd.

Indian Financial System

2. History

3. Objective of the Study

4. Function

5. Operational Policies

6. Milestone of Insurance Companies

7. Subsidiaries of Kotak Mahindra Life Insurance Ltd. Jabalpur

8. Management and organizations

9. Future Strategy

10. Research methodology

11. Objective of the Report

12. Selection Process of Insurance Companies.

13. Limitation

14. Conclusion

15. Bibliography

INTRODUCTION OF KOTAK MAHINDRA

BANK

 Kotak Mahindra Bank (BSE: 500247) is a financial organization

established in 1985 in India. It was previously known as Kotak Mahindra

Finance Limited, a non-Insurance financial company. In February 2003,

Kotak Mahindra Finance Ltd, the group's flagship company was given the

license to carry on Insurance business by the Reserve Bank of India

(RBI). Kotak Mahindra Finance Ltd. is the first company in the Indian

Insurance history to convert to a bank. Today it has more than 20,000

employees and Rs. 10,000 crore in revenue.[2]

Mr. Uday Kotak is Executive Vice Chairman & Managing Director of Kotak

Mahindra Bank Ltd. In July 2011 Mr. C. Jayaram and Mr. Dipak Gupta,

whole time directors of the Bank, were appointed the Joint Managing

Directors of Kotak Mahindra Bank. Dr. Shankar Acharya is the chairman

of board of Directors in the company.

The Bank has its registered office at Nariman Bhavan, Nariman

Point, Mumbai.

-

HISTORYIt bought stressed assets from a number of banks, at full loan value of Rs 1,000

crore in 2005.[3] In January 2011, the bank reported a 32% rise in net profit to

Rs188 crore for the quarter ended December 2010 against Rs. 142 crore the

corresponding quarter last year. Kotak Mahindra bank also reached the top 100

most trusted brands of India in The Brand Trust Report published by Trust Research

Advisory in 2011.

Year Milestone

1986 Kotak Mahindra Finance Limited starts the activity of Bill Discounting

1987Kotak Mahindra Finance Limited enters the Lease and Hire Purchase

market

1990 The Auto Finance division is started

1991The Investment Insurance Division is started. Takes over FICOM, one of

India's largest financial retail marketing networks

1992 Enters the Funds Syndication sector

1995

Brokerage and Distribution businesses incorporated into a separate

company - Securities. Investment Insurance division incorporated into a

separate company - Kotak Mahindra Capital Company

1996 The Auto Finance Business is hived off into a separate company -Kotak

Mahindra Prime Limited (formerly known as Kotak Mahindra Primus

Limited). Kotak Mahindra takes a significant stake in Ford Credit Kotak

Mahindra Limited, for financing Ford vehicles. The launch of Matrix

Information Services Limited marks the Group's entry into information

distribution.

1998Enters the mutual fund market with the launch of Kotak Mahindra Asset

Management Company.

2000Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance

business.

2000

Kotak Securities launches its on-line broking site (now

www.kotaksecurities.com). Commencement of private equity activity

through setting up of Kotak Mahindra Venture Capital Fund.

2001 Matrix sold to Friday Corporation

2001 Launches Insurance Services

2003Kotak Mahindra Finance Ltd. converts to a commercial bank - the first

Indian company to do so.

2004 Launches India Growth Fund, a private equity fund.

2005

Kotak Group realigns joint venture in Ford Credit; Buys Kotak Mahindra

Prime (formerly known as Kotak Mahindra Primus Limited) and sells Ford

credit Mahindra.

2005 Launches a real estate fund

2006Bought the 25% stake held by Goldman Sachs in Kotak Mahindra Capital

Company and Securities

2008 Launched a Pension Fund under the New Pension System

2009

Kotak Mahindra Bank Ltd. Opened a representative office in Dubai

Entered Ahmedabad Commodity Exchange as anchor investor

2010Ahmedabad Derivatives and Commodities Exchange, a Kotak anchored

enterprise, became operational as a national commodity exchange.

2011Kotak Mahindra Bank Ltd entered into a Business Cooperation

arrangement with CIMB Group Sdn Bhd, Malaysia.

OBJECTIVES OF THE STUDY

To know how to face the problem of corporate world.

To face original market situations and to gain real marketing

experience.

To enhance the knowledge and skills by working in particular company.

To apply the theoretical knowledge in corporate sector.

To collect information of other life Insurance Companies.

To face the problem of corporate world and tackle them in polite way.

To educate the customers about facilities provided by Kotak Mahindra

Life insurance Ltd. )

To get suspect convinced and convert into Prospect.

INDIAN FINANCIAL SYSTEM

IFSC or Indian Financial System is an alpha-numeric code that uniquely

identifies a bank-branch participating in the NEFT system. This is a 11 digit

code with the first 4 alphabetic characters representing the bank, and the

last 6 characters (usually numeric, but can be alphabetic) representing the

branch. The 5th character is 0 (zero). IFSC is used by the NEFT system to

route the messages to the destination banks / branches.[1]

NEFT is a system that functions across the nation and allows all

individuals, firms and corporate to transfer funds, via an electronic

medium, from any bank to a individual, firm and corporate holding a bank

account in any bank in the country, which is under the scheme. To be a

part of the NEFT network the bank has to be NEFT-enabled. NEFT

functions in hourly batches, which are from 9am to 7pm on weekdays and

9am to 1 pm on Saturdays. People who don’t have any bank account(walk-

in customers) can also avail services of the banks under the NEFT

scheme, however their money transfers are restricted to Rs 50,000 per

transaction and they have to submit complete information about

themselves. The NEFT scheme allows one way transfer of money, across

the border of India and Nepal which is known as the Indo-Nepal

Remittance Facility Scheme. A person from India can easily transfer funds

to any NEFT enabled bank in Nepal, wherein it is not necessary for the

other party to have a bank account with a bank in Nepal. The transaction

takes place in Nepalese currency (Rupees). However, the limit of such a

transaction is Rs. 50,000.

WORKING OF NEFT The individual, firm or corporate who intends to

begin the process of transferring funds needs to fill in an application form

which contains details about the beneficiary (name of the beneficiary,

name of the bank in which he holds an account, account number, IFSC,

etc) and the amount involved. The originator allows his bank to debit funds

from his account and transfer them to the receiver’s account. Certain

banks also provide this service through their ATMs as well as through

online transactions. The second step is where the originator banks sends a

message to the NEFT Service Centre which is then forwarded to the NEFT

Clearing Centre. The job of the Clearing Centre is to sort the funds

according to the destination of the banks and also enters transactions into

the books of accounts regarding the amount received by the originator

banks and the amount to be remitted to the destination banks. The

destination banks then receive the message from the Clearing Centre and

forward the credit to the beneficiary customer’s account.

Bank-wise list of IFSCs is available with all the bank-branches participating

in NEFT. List of bank-branches participating in NEFT and their IFSCs is

available on the website of Reserve Bank of India at  All the banks have

also been advised to print the IFSC of the branch on cheques issued by

branches to their customers. For net Insurance customers many banks

have enabled online search / pop-up of the IFSC of the destination bank

branch.

-

-

OVERVIEW

Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint

venture between Kotak Mahindra Bank Ltd., its affiliates and Old

Mutual plc. A Company that combines its international strengths

and local advantages to offer its customers a wide range of

innovative life insurance products, helping them take important

financial decisions at every stage in life and stay financially

independent. The company covers over 3 million lives and is one

of the fastest growing insurance companies in India. For further

information on Kotak Mahindra Old Mutual Life Insurance, please

visit www.kotaklifeinsurance.com

Established in 1985, the Kotak Mahindra group is one of India's

leading financial services conglomerates. In February 2003, Kotak

Mahindra Finance Ltd. (KMFL), the group's flagship company,

received the Insurance license from the Reserve Bank of India

(RBI). With this, KMFL became the first non-Insurance finance

company in India to become a bank - Kotak Mahindra Bank Ltd.

The Kotak Mahindra Group has a consolidated net worth of

approximately US$ 2.5 billion as on June 30, 2011. The Group

offers a wide range of financial services that encompass every

sphere of life. From commercial Insurance , to stock broking,

mutual funds, life insurance and investment Insurance , the

Group caters to the diverse financial needs of individuals and the

corporate sector. The Group has a wide distribution network

through branches and franchisees across India, and international

offices in London, New York, California, Dubai, Abu Dhabi,

Bahrain, Mauritius and Singapore. For more information, please

visit the company's website athttp://www.kotak.com

Old Mutual plc is an international long-term savings, protection

and investment Group. Originating in South Africa in 1845, the

Group provides life assurance, asset management, Insurance

and general insurance to more than 15 million customers in

Europe, the Americas, Africa and Asia. Old Mutual plc is listed on

the London Stock Exchange and the Johannesburg Stock

Exchange, among others. In the year ended 31 December 2010,

the Group reported adjusted operating profit before tax of £1.5

billion (on an IFRS basis) and had £309 billion of funds under

management, from core operations. For further information on

Old Mutual plc, please visit the corporate website

at www.oldmutual.com

MANAGEMENT

Management Overview

We at Kotak Life Insurance work as a team and have a flat

management structure. Our top management has many years of

experience which has helped guide the company into a position of

leadership.

Mr. Gaurang Shah   - Director

Mr. G Murlidhar   - Managing Director

Mr. Andrew Cartwright   - Appointed Actuary

Mr. Sudhakar Shanbag   - Chief Investment Officer

Mr. Sugata Dutta   - Executive Vice President and Head, Human

Resources

Mr. Suresh Agarwal   - Executive Vice-President and Head –

Distribution & Strategic Initiatives

Ms. Kirti Patil   - Senior Vice President and Head, Information

Technology

Mr. Anand Dewan   - Senior Vice President and Head, Business

Impact Group

Mr. Cedric Fernandes   - Senior Vice President and Chief Financial

Officer

Ms. Elizabeth Venkataraman   - Senior Vice President and Head,

Marketing

Mr. Hitesh Veera   - Senior Vice President and Head, Operations,

Customer Service, Underwriting & Claims

Mr. Sandip Shrikhande   - Senior Vice President and Head, Group

Business

Mr. Subhasis Ghosh   - Senior Vice President and Head, Financial

Institutions Group

OPERATION POLICIESKotak Life Insurance Plans

Click on the individual plans to read their Detailed Review.

 

Term Insurance Plans Unit Linked Insurance Plan - ULIP

Kotak Term Plan Kotak Platinum Plan

Kotak Preferred Term Plan Kotak Single Invest Advantage

Kotak e-Term Plan Kotak Ace Investment Plan

Kotak e-Preferred Term Plan Kotak Wealth Insurance Plan

Kotak Premium Return Plan Kotak Secure Invest Insurance Plan

Kotak Invest Maxima

Endowment Plans

Kotak Endowment Plan Retirement Plans

Kotak Surakshit Jeevan Kotak Capital Multiplier Plan

   Kotak Retirement Income Plan

Money Back Plan  

Kotak Money Back Plan Whole Life Plans

Kotak Saral Suraksha Plan

Child Plans Kotak Eternal Life Plan

Kotak Child Advantage Plan  

Kotak Head Start Child Assure Plan Loan Protection Plan

Kotak Child Edu Plan Kotak Loan Protection Plan

Kotak Child Future Plan  

 

 

ABOUT KOTAK LIFE INSURANCE COMPANY 

Kotak Mahindra Old Mutual Life Insurance Limited is a joint venture

between Kotak Mahindra Bank (74%) and Old Mutual Plc (26%)

headquartered in London. The company started its operations in the year

2001.

 

The Kotak Mahindra Group is one of India’s trusted name in financial

services established in 1985 and currently caters to the entire spectrum of

financial products. Kotak Mahindra Bank is one of its flagship businesses

with an established presence as a private bank in the country. Its other

established lines of businesses include asset management, broking,

investment Insurance and realty funds. The wide financial services

experience makes it an ideal lead partner in the life insurance

business. Old Mutual, based in London, UK has a 165 year old history

and has operations in 34 different countries around the world. Its major

operations are in US and the UK. It has a portfolio of insurance, asset

management, Insurance and long term savings products.

 

Kotak Life Insurance is a fast growing life insurance company in India.

The company has more than 200 branches in India and along with the

distribution reach of its group companies, is well positioned to reach out to

the length and breadth of the country. It has a large spectrum of life

insurance products catering to protection, savings and retirement

solutions.

                               

 

Leadership 

Pankaj Desai is the Managing Director of Kotak Life Insurance Company

 

 

Contact Points

 

Corporate Office

Kotak Mahindra Life Insurance,

9th floor, Godrej Coliseum,

Behind Everard Nagar, Sion (E), 

Mumbai - 400 022.

Tel : 91 22 6621 5999 

Fax : 91 22 6621 5757, 6621 5858

Website : www.insurance.kotak.com

 

Phone : 1800 209 8800

 

SMS : “KLIFE” to 5676788

 

   

Mailing Address

Kotak Mahindra Old Mutual Life

Insurance Ltd. 

Kotak Infiniti, Building no. 21, Infinity

Park, 

Off Western Express Highway,

General A K Vaidya Marg,

Malad (E), Mumbai – 400 097

 

 

 

Kotak Life Insurance is one of the leading life insurance companies in India and

has a host of life insurance products offering protection, savings, retirement,

child plans – both traditional and ulips. Compare life insurance plans from Kotak

Life Insurance Company and other insurance companies.

MILESTONE OF THE KOTAK MAHINDRA LIFE INSURANCE LTD.

a) Credit Risk:

Securities carry a Credit risk of repayment of principal or interest

by the borrower. This risk depends on micro-economic factors

such as financial soundness and ability of the borrower as also

macro-economic factors such as Industry performance,

Competition from Imports, Competitiveness of Exports, Input

costs, Trade barriers, Favourability of Foreign Currency

conversion rates, etc.

Credit risks of most issuers of Debt securities are rated by

Independent and professionally run rating agencies. Ratings of

Credit issued by these agencies typically range from "AAA" (read

as "Triple A" denoting "Highest Safety") to "D" (denoting

"Default"), with about 6 distinct ratings between the two

extremes.

The highest credit rating (i.e. lowest credit risk) commands a low

yield for the borrower. Conversely, the lowest credit rated

borrower can raise funds at a relatively higher cost. On

account of a higher credit risk for lower rated borrowers lenders

prefer higher rated instruments further justifying the lower yields.

Sovereign Risk: The Federal Government of a country (i.e.

Central Govt. in case of India) is the issuer of the local currency in

that country. The Government raises money to meet its Capital

and Revenue expenditure by issuing Debt or Discounted

Securities. Since payment of interest and principal amount has a

sovereign status implying no default, such securities are known

as securities with sovereign credit. For domestic borrowers and

lenders, the credit risk on such

Sovereign credit is near zero and is popularly known as "riskfree

security" or "Zero-Risk security". Thus Zero-Risk is the lowest

risk, even lower than a security with "AAA" rating and hence

commands a yield, which is lower than a yield on "AAA" security.

b) Price-Risk or Interest-Rate Risk:

From the perspective of coupon rates, Debt securities can be

classified in two categories, i.e., Fixed Income bearing Securities

and Floating Rate Securities. In Fixed Income Bearing Securities,

the Coupon rate is determined at the time of investment and

paid/received at the predetermined frequency. In the Floating

Rate Securities, on the other hand, the coupon rate changes -

'floats' - with the underlying benchmark rate, e.g., MIBOR,

1 yr. Treasury Bill.

Fixed Income Securities (such as Government Securities, bonds,

debentures and money market instruments) where a fixed return

is offered, run price-risk. Generally, when interest rates

rise, prices of fixed income securities fall and when interest rates

drop, the prices increase. The extent of fall or rise in the prices is

a function of the existing coupon, the paymentfrequency

of such coupon, days to m aturity and the increase or decrease in

the level of interest rates. The prices of Government Securities

(existing and new) will be influenced only by movement in

interest rates in the financial system. Whereas, in the case of

corporate or institutional fixed income securities, such as bonds

or debentures, prices are influenced not only by the change in

interest rates but also by credit rating of the security and liquidity

thereof. The following table indicates the likely impact of interest

rate changes on prices of Government Securities. It will be seen

that if interest rate rises by 1%, the prices of Government

Securities fall in the range of 0.48% and 6.70% of the prices. On

the other hand, if the interest rate declines by 1%, the

prices rise in the range of 0.49% to 7.33% for respective

maturities shown by way of an illustration in the table below:

Existing Government

Securities

If Interest rate changes by

Security Coupon 1% point _ 1% point _

Maturity % p.a. then Price changes by

6 Month 6.70 0.48% _ 0.49% _

12 Month 6.80 0.94% _ 0.96% _

3 Year 7.05 2.62% _ 2.71% _

5 Year 7.14 4.04% _ 4.25% _

10 Year 7.32 6.70% _ 7.33% _

The NAV of the Units of the Scheme can go up or down due to the

price fluctuations caused by various factors that affect the money

markets. Floating rate securities issued by a government (coupon

linked to treasury bill benchmark or a real return inflation linked

bond) have the least sensitivity to interest rate movements, as

compared to other securities. The Government of India has

already issued a few such securities and the Investment Manager

believes that such securities may become available

in future as well. These securities can play an important role in

minimizing interest rate risk on a portfolio.

c) Risk of Rating Migration:

The following table illustrates the impact of change of rating

(credit worthiness) on the price of a hypothetical AA rated

security with a maturity period of 3 years, a coupon of 7.50% p.a.

and a market value of Rs. 100. If it is downgraded to A category,

which commands a market yield of, say, 8.50% p.a., its market

value would drop to Rs. 97.44 (i.e. by 2.56%).

If the security is up-graded to AAA category which commands a

market yield of, say, 6.50% p.a. its market value would increase

to Rs. 102.64 (i.e. by 2.64%). The figures shown in the table are

only indicative and are intended to demonstrate how the price of

a security can be affected by change in credit rating.

Rating Yield Market

(% p.a.) Value

(Rs.)

AA 7.50 100.00

If upgraded to AAA 6.50 102.64

If downgraded to A 8.50 97.44

d) Basis Risk:

During the life of floating rate security or a swap the underlying

benchmark index may become less active and may not capture

the actual movement in the interest rates or at times the

benchmark may cease to exist. These types of events may result

in loss of value in the portfolio. Where swaps are used to hedge

an underlying fixed income security, basis risk could

arise when the fixed income yield curve moves differently from

that of the swap benchmark curve.

e) Spread Risk:

In a floating rate security the coupon is expressed in terms of a

spread or mark up over the benchmark rate. However depending

upon the market conditions the spreads may move adversely or

favourably leading to fluctuation in NAV.

f) Reinvestment Risk:

Investments in fixed income securities may carry reinvestment

risk as interest rates prevailing on the interest or maturity due

dates may differ from the original coupon of the bond.

Consequently the proceeds may get invested at a lower rate.

g) Currency Risk / Potential Loss associated with

Offshore Investments

Should the Scheme be permitted to invest in offshore securities,

such investments run currency risk in addition to other risks

faced by the investments, investments made in US dollar or any

other foreign currency denominated securities may lose in value

if the Indian rupee appreciates with respect to the foreign

currency or gain in value if the Indian rupee depreciates. In case

of offshore investments the risk shall also include

country risk associated with an investment. Country risk would

include events such as introduction of extraordinary exchange

control, economic deterioration and bilateral conflict leading to

immobilisation of the assets.

h) Liquidity Risk:

The corporate debt market is relatively illiquid vis-a- vis the

government securities market. There could therefore be

difficulties in exiting from corporate bonds in times of

uncertainties. Liquidity in a scheme therefore may suffer. Even

though the Government Securities market is more liquid

compared to that of other debt instruments, on occasions, there

could be difficulties in transacting in the market due to extreme

volatility or unusual constriction in market volumes or on

occasions when an unusually large transaction has to be put

through. In view of this, redemption may be limited or suspended

after approval from the Boards of Directors of the AMC and the

Trustee, under certain circumstances as described elsewhere in

this Offer Document.

SUBSIDIARIES OF KOTAK MAHINDRA

BANK

he present Kotak Mahindra Bank was known as the Kotak

Mahindra finance and was established back in the year 1985. It

is the result of a joint venture of Mr. Uday Kotak and Mr. Anand

Mahindra of the Mahindra group. In the year 2003, it achieved

Insurance license from the reserve bank of India. Since then it

has made its foray in the Insurance business. Today the Kotak

Mahindra bank is one of the biggest banks in the country. It has

in fact a pan India presence and has branches all over the

country. It is one of the first private banks to set up office here

in India.

The Kotak Mahindra bank is one of the finest in the country. The

management is one of the finest in the country. The number of

branches here are limited. However, the beauty of this bank is

that most of the branches are profitable. Along with Insurance ,

this group like any other major banks today has entered the

insurance sector. The Kotak Mahindra Life insurance company is

also doing very well. Like other banks, it also has a credit card

division also. Here based on certain criteria customers are given

credit cards. Based on the creditability of the customer an

amount is sanctioned which he can use.

However, the main activity of a bank is account opening. Like

any other major, bank the Kotak bank to offers customers

savings accounts, current accounts as well as term deposits.

These are the basic function, which are there with any major

bank. A customer can open a savings bank account with a

minimum balance of Rs 5,000. This minimum balance has to be

maintained in your savings account. According to the recent

norms of the Reserve Bank of India banks today have to pay

there customers interest on a daily basis. The interest is

deposited to the savings account twice during the financial year.

Currents accounts are opened by business houses. Here the

minimum balance, which is to be maintained, is a bit higher.

Another advantage it offers to its customers is the facility of

term deposits. Here to just like any other bank the customer can

keep his excess money in term deposits. Here you can keep

your excess money with the bank for a certain period, which is

fixed. The rate of interest is a tag higher than the normal rate of

interest on a savings account.

However, the main disadvantage here is that you cannot

withdraw the money before the term ends. If you do, so a penalty

will be charged.

Today consumer spending in India is growing on a large scale.

However, a huge percentage of this spending is being done on

borrowed money. Therefore, loans are an important source of

revenue for the bank. Actually, it works both ways as it helps the

borrower to achieve his desire immediately. The majority of the

loans that are given are home loans. India is a very populous

country and affordable housing is a problem. Today people can

take home loans from these banks and live in there own homes.

As a borrower, you will need to give salary slip if you are in

service or your last three years I.T returns if you are a

businessperson. You can take personal loans to meet some short-

term expenditure. However if you do want a huge some of

money you will have to offer your property as mortgage. The

bank will value your property and sanction an amount based on

the value of your property. 

Today Kotak Mahindra Bank has also made its foray into the

investment sector. It is offering you demat facilities. A demat

account is very much like a bank account. In a bank account, you

can keep money. Here in a demat account you can keep shares

after buying them from the equity markets. Mutual funds are

another exciting thing, which the bank offers to its customers.

Today the Indian markets are very bullish and have generated

huge returns over a period. However, the public is not at all

comfortable with the volatility of the indices. Buying mutual

funds are a good way to make profits in the stock markets.

Riding on the back of a successful fund manager you can grow

your money. The Kotak Mahindra Life Insurance Co, which is a

subsidiary of the bank, offers you huge scope in the life

insurance and general insurance space. The bank offers its

customers as well as the public to buy gold from its various

branches.

The Kotak Mahindra group has its head quarters situated in the

city of Mumbai, which is the financial capital of India. However as

mentioned earlier it does have a pan India presence. They have

just not restricted their activities to Insurance . In fact, they have

diversified in the financial sector. Today they operate various

subsidiaries. Kotak securities is there stock broking arm. While

the Kotak Mahindra Asset Management Company Ltd has been

set upto look after the mutual funds section of the business.

Next, we have the Kotak Mahindra Capital Company, which is

related to the investment Insurance services. The Kotak Private

Equity group provides equity capital for business expansion. The

Kotak Reality fund is there to fund real estate projects.

Looking after customers and solving there queries is also an

integral part of the business. Customer satisfaction is something,

which must never be compromised at any cost. The customer

can enjoy phone Insurance and net Insurance facilities of the

Kotak Bank. Phone Insurance is the process where you will have

to dial a toll free number and speak to the customer care

executives over the phone. They will try to solve your problem as

fast as possible. Net Insurance is something, which is slowly

emerging. Here you can access your account from the internet.

You can check your balance and probably even transfer funds.

Then we come to the ATM facility. Here Kotak Bank has a special

ATM arrangement with HDFC Bank all around the country from

where you can withdraw money. The Kotak Mahindra Bank is one

of the most well managed banks in the country.

SHARE HOLDING OF LIFE

INSURANCE INVESTOR CENTER

ING Vysya Life Insurance Company Limited is one of the leading

private insurance providers in India. A joint venture between ING

Insurance International B.V. (INGI) - the second largest

insurance company in the world, Vysya Bank Limited - one of the

largest private sector banks in India, and GMR Industries, ING

Vysya Life Insurance Company Ltd, based in Bangalore, was

established in the year 2001. The company also has some other

joint venture partners in the form of Exide Industries Ltd, Enam

Group and Ambuja Cement Ltd.

ING Vysya Life Insurance offers a host of life insurance products

and services to its customers, which include individual life

insurance plans and products, group products, financial tools

and calculators etc. The company has over 140 branches across

the nation that serves more than 4.5 lakh customers. ING Vysya

Life Insurance has over 3,000 employees and more than 21,000

sales insurance agents.

MANAGEMENT AND ORGANIZATIONS

Management Profile

.

Chairman and Managing Director

Sh.Nagesh Pydah

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Executive Directors

Sh. S.C.Sinha 

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Sh. V. Kannan 

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Board of Directors

Ms. Sreya Guha

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Shri B. Srinivas

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Sh. K.B.R. Naidu 

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Sh. K. H. Pandey

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Sh. S. S. Shishodia

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Sh. K. S. Sreenivasan 

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Sh. Chandraprakash Singh

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Smt. Abha Chaturvedi

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Sh. T. Valliappan 

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Sh. P. B. Santhanakrishnan

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FURTURE STRATEGYKotak Life Insurance today announced the launch of two

traditional child plans — Kotak Child Edu Plan and Kotak

Child Future Plan.

Kotak Child Edu Plan addresses the future financial

requirements of children aged between 0 (newborns) and 10

years and Kotak Child Future Plan addresses the future

financial requirements of children aged between 11 and 15

years.

Kotak Child Edu Plan provides defined benefits at specific

milestones — ‘Edu Boosters’ at ages 15, 17, 19 and 21 to

support the child’s education and skill development. Premium

payment term continues till the child attains 17 years of age.

Kotak Child Future Plan too provides defined benefits at

specific milestones — ‘Future Boosters at ages 23 and 25 to

financially support the child’s pursuit of career or life goals

without any worries. The plan has a fixed premium payment

term of 10 years from the date of entry.

Further, both the plans also offer enhanced protection in the

unfortunate event of death of life insured (parent,

grandparent, etc.) In such cases, the plans immediately pay

out 200 per cent of the sum assured but future premium

payment obligation also ceases. Both the plans also waive off

future premiums in the case of accidental disability of the life

insured.

RESEARCH METHDOLOGY

ICD Research's ‘Kotak Mahendra Life Insurance Ltd. Jabalpur- Company

Capsule’ is a crucial resource for industry executives and anyone looking

to access key information about “Oriental Bank of Commerce

ICD Research's ‘Kotak Mahendra Life Insurance Ltd. Jabalpur- Company

Capsule’ reports utilize a wide range of primary and secondary sources,

which are analyzed and presented in a consistent and easily accessible

format. ICD Research strictly follows a standardized research methodology

to ensure high levels of data quality and these characteristics guarantee a

unique report.

Scope

• Identifies crucial company information about ‘Oriental Bank of Commerce’

along with major products and services for business intelligence

requirements.

• Details locations, subsidiaries, affiliates and joint ventures.

• Identifies key competitors as well as key employees to assist with key

business decisions.

• Provides annual and interim financial ratios

Reasons to Buy

• Enhance your understanding of “Oriental Bank of Commerce”.

• Increase business/sales activities by understanding your competitors’ and

customers’ businesses better.

• Recognize potential partnerships and suppliers.

• Qualify prospective partners, affiliates or suppliers.

• Acquire up-to-date company information and an understanding of the

company’s financial health.

OBJECTIVE OF THE REPORT

1. To promote and develop in India sound and progressive Insurance

principles, practices and conventions and to contribute to the

developments of creative Insurance .

2. To render assistance and to provide various common services to

Members and to the Insurance industry.

To develop and implement new ideas and innovations in Insurance

services, operations and procedures.

To organize co-ordination and co-operation on procedural, legal,

technical, administrative or professional problems and practices of

banks and the Insurance industry.

3. To initiate advance planning for introduction of new systems or

services in the Insurance industry.

4. To collect, classify and circulate statistical and other information on

the structure and working of the Insurance system.

5. To act as a clearing house for dissemination and exchange of

statistical data, information, views and opinions on the systems,

procedures and practices, and organization and methods of banks

and on the structure, working and operations of the Insurance

system.

6. To explore, plan, co-ordinate and organize detailed surveys on

Insurance , business, resources, personnel and management

development programmes of banks and the Insurance industry.

7. To pool together talents and resources available with members and

to organize exchange of expertise and experiences of members for

simplifying forms and procedures, for reducing cost of operations,

for increasing efficiency and productivity and for such other common

purposes as may be necessary or relevant to banks and the

Insurance industry.

8. To organize exchange of credit information and opinions, export

information or information and views on any other aspects of

interest to banks or the Insurance industry.

9. To promote education and knowledge of the law and practice of

Insurance .

10. To issue periodical newsletters, bulletins or magazines and publish

books, pamphlets or other literature on matters of interest to

members and to the Insurance industry.

11. To project a good public image of Insurance as a service industry

and develop good public relations.

12. To promote harmonious personnel relations in Insurance industry

and to devise ways and means for involving Insurance personnel in

the endeavours of banks for growth and development of Insurance

and the economy of the country.

To organize, promote and afford facilities for indoor and outdoor

games, any form of sports, recreation, sports competitions, events,

cultural activities, social activities, fine arts, social meetings,

entertainments and to organize meetings for the above purposes

and to provide for purposes by purchasing, acquiring, taking on

lease, own, hire or otherwise playing fields, grounds, buildings,

pavilions and other facilities.

To give financial assistance to individuals or bodies, from out of its

own funds, or by collection from its members, or from any other

source, and for the purpose of such collection, to accept grants,

donations, etc. in cash or kind from Government, its members, other

organizations, members of the public, etc. and to collect

subscriptions, membership and other fees and to levy fees or

charges for the use of the facilities and to raise funds in any manner

to strengthen the financial position of the Association, from time to

time, for the purpose of providing education, training and facilities

for imparting basic, advance knowledge and techniques in games,

sports, cultural activities, social activities, fine arts, etc. and to give

donations, technical and other assistance, sports equipments,

sports facilities and expert guidance to organizers for this purpose

whether its members or not and to conduct, organize, participate or

to associate itself in State-Level, Nation, International Tournaments

and competitions pertaining to sports, cultural activities, social

activities, fine arts, etc., held in or outside India.

To found, establish, develop and finance a separate body for the

promotion of objects contained in Clauses n, nn, nnn, and generally,

and to register it as a Society and/or Public Trust, or a Company

under the provisions or relevant Acts, as the case may be.

13. To maintain continuous communications with the representatives of

bank employees, to conduct talks, discussions, and negotiations

with them and to arrive at Settlements.

14. To provide assistance and guidance to members in interpretation

and implementation of Awards, Settlements, etc.

15. To assist, advise and guide all members and the smaller members in

particular on all their needs, difficulties and problems of growth,

development and working.

To act as an agent or a representative of a member or members in

respect of matters connected with any of their operations working or

administration.

16. To maintain close co-ordination and liaison with Reserve Bank of

India, All Financial Institutions, Chambers of Commerce,

Organisations of Insurance Industry, Management or Educational

Institutes, Universities and such other Organisations for realizing the

subject and purposes of the Association. 

17. Generally to do all and any other thing that may be necessary or

relevant for the realization of the objects and purposes of the

Association directly or indirectly. 

18. To carry on publicity for the purpose of educating public opinion with

regard to the scope, importance and activities of the Insurance

industry, for creative growth and development. 

19. To do all and such other things as are incidental or conductive to the

attainment of any or all of the above objects.

TRAINING AND PLACEMENT OPPORTUNITIES OF KOTAK MAHENDRA LIFE INSURANCE LTD.

Employment Insurance

Cross this off your to-do list. Have your benefit payments

deposited automatically into your bank account.

Employment Insurance (EI) provides temporary financial

assistance to unemployed Canadians who have lost their job

through no fault of their own, while they look for work or upgrade

their skills.

Canadians who are sick, pregnant, or caring for a newborn or

adopted child, as well as those who must care for a family

member who is seriously ill with a significant risk of death, may

also be assisted by Employment Insurance.

Types of Employment Insurance benefits

There are several types of benefits available to Canadians,

depending on their situation.

Applying for EI

General information when Applying for Employment Insurance

Benefits 

Apply in person at your local Service Canada Centre.

Employment Insurance Frequently Asked Questions.

Online services

Start your Employment Insurance Application

Use My Service Canada Account to access your EI information,

including electronic Records of Employment and T4E tax slips,

and to apply for direct deposit and have your EI payments

deposited directly to your bank account.

Submit your EI reports online that demonstrate your continuing

entitlement using the Internet Reporting Service.

Records of Employment on the Web for employers.

1. Employment Insurance Regular Benefits  are available to

individuals who lose their jobs through no fault of their own (for

example, due to shortage of work, seasonal layoffs, or mass

layoffs) and who are available for and able to work, but can’t find

a job.

2. Employment Insurance Maternity and Parental

Benefits provide support to individuals who are pregnant, have

recently given birth, are adopting a child, or are caring for a

newborn.

3. Employment Insurance Sickness Benefits  are for individuals

who are unable to work because of sickness, injury, or

quarantine.

4. Employment Insurance Compassionate Care Benefits  are

available to people who have to be away from work temporarily

to provide care or support to a family member who is gravely ill

with a significant risk of death.

5. Employment Insurance Fishing Benefits  provide support to

qualifying, self-employed fishers who are actively seeking work.

Employment Insurance Initiatives

Employment Insurance Benefits for Self-Employed People

o Registered and qualified self-employed Canadians can

access Employment Insurance (EI) special benefits:

maternity, parental, sickness, and compassionate

care.

Extension of   EI   Regular Benefits for Long-Tenured Workers

o EI eligible long-tenured workers may be eligible to

additional benefits if they have contributed to the

Employment Insurance (EI) program for a significant

period of time and have previously made limited use

of EI regular benefits.

Extension of Eligibility Period for Employment Insurance

Parental Benefits for Military Families

o If your parental leave has been deferred or interrupted

because of an imperative military requirement, the

parental eligibility period during which Employment

Insurance (EI) parental benefit can be paid may be

extended by one week for every week that you are

unable to collect EI parental benefits

General Employment Insurance Information

Employment Insurance A-Z

Employment Insurance Forms

Employment Insurance Frequently Asked Questions

Employment Insurance Publications

Hours Required to Qualify for Benefits

While on Employment Insurance

Related information

Employment Insurance and Workers and/or Residents

Outside Canada

o Certain individuals who reside outside Canada may be

eligible for EI if their job is insured under

Canada’s EI program.

Employment Insurance Family Supplement

o The EI Family Supplement provides additional benefits

to low-income families with children.

Employment Insurance Information for Employers

o Find information about Records of Employment,

programs to assist employers, help for employers to

protect the EI fund, and more.

Contact Employment Insurance

o Find answers to frequently asked questions, and how

to contact Employment Insurance representatives by

telephone, by mail, or in person.

Appealing an Employment Insurance Decision

o You can appeal a decision concerning your EI claim for

benefits. Find information on how to file and prepare

for an appeal.

Employment Insurance Act and Regulations

o Read the Employment Insurance Act and Regulations,

as well as past amendments.

Employment Insurance Digest of Benefit Entitlement

Principles

o The Digest of Entitlement Principles contains the

principles applied by Human Resources and Skills

Development Canada when making decisions on

claims for benefits under the EI legislation. See also:

o Digest Publications and Amendments

o Index of Jurisprudence

o Jurisprudence Library

Related programs and services

Canada Benefits  

Employment Benefits and Support Measures

Finding a Job

Job Bank

Job Creation Partnerships

Job Futures

Self-Employment Program

Social Insurance Number

Training and Careers

SELECTION PROCESS OF KOTAK MAHINDRA LIFE INSURANCE LTD

JABALPUR

People are a company’s most important assets. They can make or break the fortunes of a business. In today’s highly competitive business environment placing the right people in the right position is very critical for the success of any organization.

The recruitment and selection decision is of prime importance as it is the vehicle for obtaining the best possible person-to-job fit that will, contribute significantly towards the Company's effectiveness. It is also becoming increasingly important, as the Company evolves and changes, that new recruits show a willingness to learn, adaptability and ability to work as part of a team. The Recruitment & Selection procedure ensures that these criteria are addressed  

In this project I have studied Recruitment and Selection process of Kotak Mahendra Life Insurance Ltd. Jabalpur and attempted to provide some ways so as to make recruitment more effective and to reduce the cost of hiring an employee.

I am privileged to be one of the students who got an opportunity to do my training with Kotak Mahendra Life Insurance Ltd. Jabalpur.  My involvement

in the project has been very challenging and has provided me a platform to leverage my potential in the most constructive way.

Kotak Mahendra Life Insurance Ltd. Jabalpur is one of India's leading financial institutions offering complete financial solutions that encompass every sphere of life. In a short span of time,KOTAK has set an example by having a steady and confident journey to growth and success.

During the training period I have studied deeply the process of hiring in Kotak Mahendra Life Insurance Ltd. Jabalpur and did a SWOT analysis of Kotak Mahendra Life Insurance Ltd. Jabalpur to find out the existing shortcomings and potential threats and thereby recommended suggestions.

This project however is an attempt to share as best as possible my experience in corporate world with all my colleagues and my faculty.

I would be delighted to receive reader’s comments which maybe valuable lessons for my future projects.

EXECUTIVE SUMMARY

In today’s rapidly changing business environment, organizations have to respond quickly to requirements for people. The Financial market has been witnessing growth which is manifold for last few years. Many private players have entered the economy thereby increasing the level of competition. In the competitive scenario it has become a challenge for each company to adopt practices that would help the organization stand out in the market. The competitiveness of a company of an organization is measured through the quality of products and services offered to customers that are unique from others. Thus the best services offered to the consumers are result of the genius brains working behind them. Human Resource in this regard has become an important function in any organization. All practices of marketing and finances can be easily emulated but the capability, the skills and talent of a person cannot be emulated. Hence, it is important to have a well-defined recruitment policy in place, which can be executed effectively to get the best fits for the vacant positions. Selecting the wrong candidate or rejecting the right candidate could turn out to be costly mistakes for the organization. Therefore a recruitmentpractice in an organization must be effective and efficient in attracting the best manpower.

Coverage –The extent and limitation

With largest number of life insurance policies in force in the world, insurance happens to be a mega opportunity in India. Its business is growing at 15-20% annually and presently is of the order of Rs. 450m. Together with banking sector it adds about 7% to the GDP.

Like in the case of BPO’s, Insurance sector too faces the problem of attrition. Thus,recruitment is an ongoing process carried through out the year. The project is based on the study of recruitment process. The various recommendations suggested have been the result of the study. The idea is to generate ways of dealing with high attrition and making hiring process manageable and efficient.

 

LIMITATIONS OF THE STUDY

Shortage of time- The main limitation I come across is shortage of

time I have short time to collect data and analyze the problem and

come to the solution.

Primary data collected totally dependent on the respondents’

view - Data collected from respondents is totally their opinion and it

may be biased in nature and may not represent the truth.

Since the study is wide in nature and can’t be taken for

consideration- The study is big in nature and data collected is only

from Chandigarh and Panchkula people so it can’t be taken into

consideration for whole OBC BANK and its branches.

People were reluctant to join this job, as it doesn’t provide any fixed

salary.

People perceived this profession as a low status profession.

CONCLUSION

Insurance is an integral part of any personal financial plan. The type

of insurance and the amount of coverage you obtain all depends on your

unique financial and family circumstances, and must be evaluated

carefully. When considering purchasing coverage, you should review all

the potential risks and the financial impact of these risks on your financial

health. This will help you determine what options to look for and what

questions to ask. What you need to keep in mind is that you do not want to

be underinsured or overinsured, which means you have to do your

homework before you buy. And as with any type of financial product, you

must read the fine print and consult with a competent advisor. 

BIBLIOGRAPHY

BOOKS:-

1) Marketing Management T. N. Chhabra

2) Marketing Research D.D.Sharma

3) Marketing Management Philip Kotler

4) Marketing Management - S.A. Sherlekar.

MAGAZINES:-

1) Annual Report of the Company

2) Journals & Catalogues of the company

WEB:-

5) www.google.com