Internship Report For Finance Person

ANJUMAN-I- ISLAMS ALLANA INSTITUTE OF
MANAGEMENT STUDIES & RESEARCH

A PROJECT REPORT ON
Market Scoping and analysis of Financial

Investment
& Loan Products.
Summer Internship Report Submitted to the
University Of Mumbai
In partial fulfillment for the award of degree of
Master of Management Studies.
SUBMITTED BY
MR. MOHAMMED SHAHID SABLE
ROLL NO: 37
PROJECT GUIDE:
Mrs.RESHMA SINGH
Batch: 2013-2015
For the summer internship at

IIFL(India Infoline Finance Limited)
INDIA INFOLINE FINANCIAL LIMITEDPage 1
Declaration
I, SHAHID SABLE, Student of ANJUMAN-I-ISLAMS

ALLANA INSTITUE OF MANAGEMENT STUDIES &
RESEARCH Management (MMS FINANCE),declare that the
project on Market Scoping and Analysis of Financial
Investment & Loan Products is the result of my own effort
and it is based on data collected and guidance of Project Guide
Mrs. RESHMA SINGH.
I have prepared this project during my Summer Internship from
2nd May 2014 and the same was completed on 29 th June 2014.
This report is correct to my knowledge and so far has not been
published anywhere else.
NAME: SHAHID SABLE

CLASS: MMS
BATCH: 2013-2015
ROLL NO.: 37
PLACE: MUMBAI
(SIGNATURE OF THE CANDIDATE)
Certificate of Approval
This is to certify that summer internship project entitled Market Scoping and
analysis of Financial Investment& Loan Products submitted
byUMESH YADAV, a student of BharatiVidyapeeths Institute of Management
Studies and Research , as a part of the curriculum of Masters of management studies
(MMS) has been approved.
____________________
Project Guide
___________________
Director -BVIMSR
ACKNOWLEDGEMENT
This project bears imprint of all those who have directly or indirectly helped and
extended their kind support in completing this project.
At the time of making this report I express my sincere gratitude to all of them.I would
like to express my sincere gratitude to Mr. Nijesh Raveendran (Area Manager) , Mr.
Sagar Kesri (Territory Manager ) and Mrs. Bhagyashree Bhavsar (Branch Manager) for
giving me this opportunity to undergo this lucrative project with India Infoline Finance
Ltd at IIFL Gold Loan Kanjurmarg branch.
I am extremely thankful and obliged to Prof. Reshma Singh (Internal Project Guide) for
providing streamed guidelines since inception, till the completion of the project.
I would also thank IIFL Gold Loan employees and customers, whom I met during the
course of this project, for their support and for providing valuable information, which
helped me, complete this project successfully.
At this moment I also thank almighty God for the blessings showed upon me, my parents
for their support and care and also my friends for their valuable suggestions.
This project report is a collective effort of all and I sincerely remember and acknowledge
all of them for their excellent help and assistance throughout the project.
SHAHID SABLE
EXECUTIVE SUMMARY
The title of the Project done at India Infoline Finance Limited is Market Scoping-Gold
Loan with special reference to IIFL Vashi sec 9 Branch.
There are many reasons why customer expectations are likely to change over time.
Process improvements, advent of new technology, changes in customer's priorities, improved
quality of service provided by competitors are just a few examples.
The main objective of the study is to find out the different services provided in gold loan
market by different organizations and to know the perception and awareness level of the people
regarding IIFL in the Gold Loan Market. Also this research project includes in finding out
policies and strategies of existing and upcoming competitors in this sector.
In todays competitive world there are many goods chasing few customers some are
trying it expands their size and share of existing market. As a result there are loser and winners.
Winners are those who carefully analyze needs identify opportunities and create aloe rich offers
for target customer.
The objective of the market research to determine the demand and supply and use of the
product and competitors study so as to get the total market scenario of the product for analyzing
market problem research is needed. A firm can obtained market research in a number of ways. It
can hire market research firm or it can ask student to design and carry out market research
project. These marketing problems and opportunities if entrust to the student of marketing.
Specially when they seek the same during the project gives opportunities to apply their
theoretical knowledge and managerial knowledge.
The type of research was qualitative research. Qualitative research is collecting,
analyzing and interpreting data by observing what people do and say. The sources of the data for
the study were primary and secondary data. The questionnaire was prepared and administered to
collect the relevant primary data. The data collection method was based on questionnaire.
Table of Contents
Chapter
Topics
Page No.
CHAPTER 1
2.1
2.2
2.2
Introduction Of The Topic

RBI's gold loan regulation for NBFCs
Objectives
8
13
14
CHAPTER 2
3.1
3.2
3.3
Company Profile
About Industry
Competitors
17
18
26
CHAPTER 3
4.1
4.2
4.3
4.4
4.5
4.6
4.7
About Firm
History
Organization structure
Finance
Marketing
Human Resource
Research Methodology
25
28
30
31
33
36
42
CHAPTER 5
5
Operational learning
5.1 Data analysis& Interpretation
46
47
CHAPTER 6
6.1
6.2
6.3
6.4
6.5
58
59
60
61
64
CHAPTER 4
Conclusions
Findings
Recommendations& Suggestions
Annexure
Bibliography
COMPANY PROFILE
India Infoline originally incorporated on October 18, 1995 as
Probity Research And Service Private Limited at Mumbai under the
companies act, 1956 with registration number 1193797. And become a

public limited company on April 28, 2000.
INDIAINFOLINE Limited is a leading full service investment bank
founded in 1995 offering a wide range of financial services and wealth
management solutions to institutions, corporations, highnet worth
individuals and families. The firm has rapidly expanded its footprint to
over 2500 locations across India with international presence in
Singapore Exchange (SGX) &
Founded
by
Mr.
Sri Lanka(Colombo stock exchange) .
NIRMAIL
JAIN
(CEO)
and
Mr.
R.VENKATARAMA(Managing director) of this group. , the group

today employs over 18000 professionals throughout India and its
international offices.
IIFL is a one-stop financial services shop, most respected for quality of
its advice, personalised service and cutting-edge technology. The IIFL
group, comprising the holding company, India Infoline Ltd and its
subsidiaries, is one of leading players in the Indian Financial Services
Space. IIFL offers advice and execution platform for the entire range of
financial services covering products ranging from Equities and
Derivatives, Commodities, Wealth Management, Asset Management,
Insurance, Fixed Deposit, Investment Banking, Loans (Gold, Home,
Mortgage, Commercial Vehicle).
The firms philosophy is entirely client centric, with a clear focus on
providing long term value addition to clients, while maintaining the
highest standards of excellence, ethics and professionalism. The entire

firm activities are divided across distinct client groups: Individuals,
Private Clients, corporate and Institutions. indiainfoline has been named
The Best broking firm house awarded in India. The firm has emerged a
winner across all key segments in indias largest survey of high net
worth individuals in India.
IIFLs Crisil and ICRA Rating for short term is top rated as CRISIL A1+
and ICRA (A1+) respectively. For long term, IIFL has been rated
ICRA(AA-) by ICRA and CRISIL AA-/Stable by CRISIL indicating
high degree of safety for timely servicing of financial obligations.
GROWTH
INTERGRIT
Y
FAIRNESS
SERVICE
TRANSPARE
NCY
IIFL VALUES
Growth
IIFL believe in setting challenging targets and achieving them.
Once IIFL have set target for any business, they work aggressively
to achieve the same.
IIFL has grown from a search firm in 1995 to a leading financial
powerhouse in less than a decade. From research, now the
company provides the entire range of services including
Institutional Broking, Investment Banking, Wealth Management
Services, Life Insurance Distribution, Credit and Loans and Gold
Loans. In the last five years IIFL has grown at a compounded
annual rate of 30%.
Today, the company has one of the widest networks across the
country with more than 3000 business locations spread over more
than 500 cities and towns across India facilitating smooth
acquisition and servicing of a large customer base. The group
caters to a customer base of about a million customers, over a
variety of mediums viz. online, over the phone and its branches. Its
International footprints cover Singapore, Dubai, Sri Lanka, USA
and Europe.
Integrity
At IIFL they believe all employees to implement things which are
legally morally and ethically correct Integrity is the cornerstone on
which business is built. No short cuts compliance is necessary for
business to grow. A cardinal rule no compromises on ethics and
any wrong act like even fudging a travel bill will mean
termination.
Fairness
IIFL give all their people equal opportunities.
Ideas / suggestion is always heard by management irrespective of
the hierarchy.
Merit is the sole determinant in the career growth of an IIFL
employee. The appraisal process in IIFL is transparent with the
employee being evaluated on clearly defined parameters. There are
internal job postings which are posted at regular intervals. IIFL
always prefer to fill in vacancies by internal promotions and only
then recruits from external source are considered.
Transparency
At IIFL most of the information is available on intranet IWIN
(India Infoline Web based Information Network) via circulars and
policies.
Employees can also directly communicate with the top

management via the IWIN Q&A (Question & Answer) feature.
Service
Customer service is the backbone of financial services.
We believe in acquiring customers, retaining them and keeping
them happy. The essence of good customer service is in forming a
relationship with customers for life.
Marketing Strategy of IIFL

Market Positioning:
Market positioning statements of India Infoline are At India
Infoline we give you single window service and We also ensure
your comfort. So, India Infoline focus on the consumers who
prefer almost all investment activities at same place by providing
number of various financial services. At India Infoline a person can
purchase or sell shares, debentures etc. and at the same place also
demat it. India Infoline also provides other investment option to
the same person at same place like Mutual Fund, Insurance, Fixed
Deposit, and Bonds etc. and help the person in designing his
portfolio. By this way India Infoline provides comfort to its
customers.
Target Market:
India Infoline uses demographic segmentation strategy and
segment people based on their occupation. India Infoline uses
selective specialization strategy for market targeting. Target person
for the India Infoline Stock Broking and India Infoline Investment
Service are persons who can work as sub-broker for the
companies. Companies focus on Advisors of Insurance and post
office, Tax consultants and CAs for making sub-broker.
Marketing channel System:
India Infoline uses one level marketing channel for investment
product distribution. Sub-brokers work as intermediary between
consumer and company. Company has both forward and backward
flow of activity through channel. Company distributes stationery,
brokerage, and information forward to its sub-broker. The subbrokers send filled forms, queries, amount of investment etc. back
to the company.
Training Channel Members:

India Infoline provides training to the sub-brokers because they
will be viewed as the company by the investors. The executives of
India Infoline explain various new schemes of investment to the
sub-brokers with its objective, risk factors and expected return.
Company also periodically arrange seminar to guide sub-brokers.
Advertising and Promotion:
The objective of advertising of India Infoline is to create awareness
about services of India Infoline among investors and sub-brokers.
India Infoline also publishes its weekly Stock Market Newsletter
Market Mantra.
IIFL have a presence in:

Equities
IIFL is a member of BSE and NSE registered with NSDL and CDSL as a
depository participant and provides broking services in the cash,
derivatives and currency segments, online and offline. IIFL is a
dominant player in the retail as well as institutional segments of the
market. It recently became the first Indian broker to get a membership of
the Colombo Stock Exchange and is also the first Indian broker to have
received an in-principle approval for membership of the Singapore Stock
Exchange. IIFLs Trader Terminal, its proprietary trading platform, is
widely acknowledged as one of the best available for retail investors.
Investors opt for IIFL given its unique combination of superior Service,
cutting-edge proprietary Technology, Advice powered by worldacclaimed research and its unparalleled Reach owing to its over 2500
business locations across over 500 cities in India.
Commodities
IIFL offers commodities trading to its customers vide its membership of
the MCX and the NCDEX. Our domain knowledge and data based on in
depth research of complex paradigms of commodity kinetics, offers our
customers a unique insight into behavioral patterns of these markets. Our
customers are ideally positioned to make informed investment decisions
with a high probability of success.
Insurance
IIFL entered the insurance distribution business in 2000 as ICICI
Prudential Life Insurance Co. Ltds corporate agent. Later, it became an
Insurance broker in October 2008 in line with its strategy to have an
open architecture model. The Company now distributes products of
major insurance companies through its subsidiary India Infoline
Insurance Brokers Ltd. Customers can choose from a wide bouquet of
products from several insurance companies including Max New York
Life Insurance, MetLife, Reliance Life Insurance, Bajaj Allianz Life,
Birla Sunlife, Life Insurance Corporation,Realiance Life Insuramce.
Credit & Finance
IIFL offers a wide array of secured loan products. Currently, secured
loans (mortgage loans, margin funding, loans against shares) comprise
94% of the loan book. The Company has discontinued its unsecured
products. It has robust credit processes and collections mechanism
resulting in overall NPAs of less than 1%. The Company has deployed
proprietary loan-processing software to enable stringent credit checks
while ensuring fast application processing. Recently the company has
also launched Loans against Gold
Private Wealth Management
IIFL offers private wealth advisory services to high-net-worth

individuals (HNI) and corporate clients under the IIFL Private Wealth
brand. IIFL Private Wealth is managed by a qualified team of MBAs
from IIMs and premier institutes with relevant industry experience. The
team advises clients across asset classes like sovereign and quasisovereign debt, corporate and collateralised debt, direct equity, ETFs and
mutual funds, third party PMS, derivative strategies, real estate and
private equity. It has developed innovative products structured on the
fixed income side.
It also has tied up with Interactive Brokers LLC to strengthen its
execution platform and provide investors with a global investment
platform.
Investment Banking
IIFLs investment banking division was launched in 2006. The business
leverages upon its strength of research and placement capabilities of the
institutional and retail sales teams. Our experienced investment banking
team possesses the skill-set to manage all kinds of investment banking
transactions. Our close interaction with investors as well as corporates
helps us understand and offer tailor-made solutions to fulfill
requirements.
The Company possesses strong placement capabilities across
institutional, HNI and retail investors. This makes it possible for the
team to place large issues with marquee investors.
Team Members
Nirmal Jain
Chairman of India Infoline Ltd
Academics
Nirmal Jain is an alumnus of IIM Ahmedabad.He is also a Chartered
Accountant and a Cost Accountant. He has consistently excelled in
academics, was always amongst the top scorers and stood All India
Second in Chartered Accountancy (year required). He acquired all three
top professional qualifications in Finance even before he was 23 years of
age.
Career
Nirmal Jain started his career in 1989 with Hindustan Lever Limited
soon after his MBA from IIM Ahmedabad. During his stint with
Hindustan Lever, he handled a variety of responsibilities which included
exports and trading in agro-commodities. He contributed immensely
towards rapid and profitable growth of Hindustan Lever's commodity
export business which was then the nation's as well as the company's top
priority. In 1995, Nirmal Jain set up what is today know as IIFL.
Entrepreneurial Ventures
In 1994, Nirmal Jain joined hands with two local brokers, Motilal Oswal
and Ramdev Agarwal, to set up their equity research unit, Inquire
Indian Equity Research. However, this project couldn't sustain and had
to be shut.
On October 18, 1995, Nirmal set up Probity Research and Services
Private Limited. Nirmal had planned to build the business on the
premise that most brokers would set up their own research and cover top
200 stocks. The name was later changed to what is today known as India
Infoline or IIFL.
Awards and Recognition
Nirmal Jain was nominated in the year 2000 and 2007 for the
'Ernst & Young Entrepreneur of the Year' Award and in both the
years he has a finalist.
Nirmal Jain has received the 'Udyog Rattan Award 2007' from the
institute of Economic Studies.
Nirmal Jain won the CA Business Learder Corporate award of
the year 2007
R Venkataraman Managing Director,IIFL

Mr. R Venkataraman, Co-Promoter and Executive Director of India
Infoline Ltd, is a B.Tech (electronics and electrical communications
engineering, IIT Kharagpur) and an MBA (IIM Bangalore). He joined
the India Infoline Board in July 1999. He previously held senior
managerial positions in ICICI Limited, including ICICI Securities
Limited, their investment banking joint venture with J P Morgan of US,
BZW and Taib Capital Corporation Limited. He was also the Assistant
Vice President with G E Capital Services India Limited in their private
equity division, possessing a varied experience of more than 19 years in
the financial services sector.
Mr. Nilesh Vikamsey- Independent Director , India Infoline Ltd

Mr. Nilesh Vikamsey Board Member since February 2005 - is a
practicing Chartered Accountant for 25 years and Senior Partner at M/s
Khimji Kunverji & Co., Chartered Accountants, a member firm of HLB
International, a world-wide organisation of professional accounting
firms and business advisers, ranked amongst the top 12 accounting
groups in the world. Mr. Vikamsey headed the audit department till 1990
and thereafter also handled financial services, consultancy,
investigations, mergers and acquisitions, valuations and due diligence,
among others. He is elected member of the Central Council of Institute
of Chartered Accountant of India (ICAI), the Apex decision making
body of the second largest accounting body in the world, 20102013.
Mr. Kranti Sinha- Independent Director , India Infoline Ltd.

Mr. Kranti Sinha Board member since January 2005 completed his
masters from the Agra University and started his career as a Class I
Officer with Life Insurance Corporation of India. He served as the
Director and Chief Executive of LIC Housing Finance Limited from

August 1998 to December 2002 and concurrently as the Managing
Director of LICHFL Care Homes (a wholly-owned subsidiary of LIC
Housing Finance Limited). He retired from the permanent cadre of the
Executive Director of LIC; served as the Deputy President of the
Governing Council of Insurance Institute of India and as a member of
the Governing Council of National Insurance Academy, Pune apart from
various other such bodies. Mr. Sinha is also on the Board of Directors of
Hindustan Motors Limited and Cinemax (India) Limited
Mr. A. K. Purwar- Independent Director , India Infoline Ltd

Mr. Purwar is currently the Chairman of IndiaVenture Advisors Pvt.
Ltd., investment manager to IndiaVenture Trust Fund I, the healthcare
and life sciences focussed private equity fund sponsored by the Piramal
Group. He has also taken over as the Chairman of IL & FS Renewable
Energy Limited in March 2008 and India Infoline Investment Services
Ltd in November 2009. He is working as Independent Director in
leading companies in Telecom, Steel, Textiles, Power, Auto components,
Renewable Energy, Engineering Consultancy, Financial Services and
Healthcare Services. He is an Advisor to Mizuho Securities in Japan and
is also a member of Advisory Board for Institute of Indian Economic
Studies (IIES), Waseda University, Tokyo, Japan.
Head Offices In Mumbai

Registered Office:
IIFL House
Sun Infotech Park,
Road No. 16V,
Plot No.B-23
Thane Industrial Area,
Wagle Estate, Thane 400604
Corporate Office:
IIFL Centre
B Wing,Trade Centre
Kamala Mills Compound,
Off Senapati Bapat Marg,
Lower Parel,
Mumbai - 400013
India Infoline Finance Ltd
12A-10, 13th floor, Parinee Crescenzo,
C-38 and C-39, G Block,
Behind MCA, Bandra Kurla Complex,
Bandra East, Mumbai 400051
Board No. 022-67881000
Fax No. 022-67881010
GLOBAL OFFICES OF INDIA INFOLINE LTD

IIFL - Singapore
IIFL (Asia) Pte Ltd.
20 Collyer Quay
#21-04/05 Tung Centre
Singapore 049319
IIFL - Dubai
IIFL Private Wealth Management (Dubai) Ltd.
DIFC, 808
Liberty House,
P.O. Box 115064,
Dubai, UAE 241 294
IIFL - USA
IIFL Inc.
Grace Building, 34th Floor
1114 Avenue of the Americas
New York, NY-10036
Tel: +1 212 221 6800
Fax: +1 212 221 6818
IIFL - UK
IIFL WEALTH (UK) LTD
45 King William Street,
London, EC4R 9AN, UK
IIFL - Geneva
IIFL Private Wealth (Suisse) SA
Place de la Fusterie, 7
1204 Geneva
Tel: +41 22 310 99 90
IIFL - Hong Kong

IIFL Private Wealth Hong Kong Ltd.
Level 9 , 907 Central Building
21-27 Queens Road Central
Hong Kong.
IIFL - Mauritius
IIFL Private Wealth (Mauritius) Ltd
5th Floor, Barkly Wharf
Le Caudan Waterfront
Port Louis, Mauritius
Mihir Parekh +230 2105168
Parag Shah +230 2113089
Niraj Kumar +230 2104078
Maharoof Parokot +230 2103486
Fax: +230 2104624
History of Gold
Glory of gold is unique. The precious yellow metal is celebrated as
Emperor of metals. Some people compare this metal with the Almighty
God. Gold is called as Swarnam, Aparanji, Chinna, Sona, Pon,
Thangam, Bangaru in various Indian languages. Pure gold is called as
Fine Gold in English.
Gold is taken out from the earth, naturally with silver & cooper. South
Africa is the major supplier of gold (50% of gold). Only in Australia
gold is mined in pure state of 99.65% naturally. India is the top most
user of gold in the world. India is consuming 800 tons of gold per annum
approximately.
In India gold is mined in Kolar & Hatti in Karnataka state. But recently
the Kolar mines were closed, because the administrative & executing
expenses were higher than the gold.
Gold is a very soft metal we can mould the gold into a very thin foil &
stretch it into a thin wire. Gold is a best conductor of heat & electricity.
If the gold is put in water or sea even for hundred years it wont get
rusted. Gold will not react with single chemical or any acid. But it will
dissolve only in Aquaregia, a mixture of nitric acid & hydrochloric acid.
Gold is mostly available in South Africa, USA, Mexico, Canada, Brazil,
Russia, China & Australia in large amount. Gold is used in various fields
such as electronics, communications, technology, medical field & in
jewellery. Gold is utilised in minting coins as alloy metal.
Now a days every countrys currency is based on the reserve of the gold
in that Government. USA, Canada, UK, Australia, China & South Africa
govts are economically well off because of their gold stock.
MAJOR COMPETITORS IN GOLD LOAN

Muthoot Finance Gold Loan:
Muthoot is a Kerala originated association set up by Muthoot
Ninan Mathai in 1887 at Kozhencherry in Travancore district
which was later being adopted by M George Muthoot. Loan
is received within a time period of 5 min. It ranges from Rs 1500
to 1 crore. 0%processing fees. Interest rate of 1%per month.
Mannapuram Finance Gold Loan:
Mannapuram Finance also facilitates gold loan within 5 minutes. It
help to draw instant Cash by subscribing gold ornaments and
Jewellery. It provides loan at higher points, based on purity, net
weight of gold. The candidate must have one recent IDVoter ID/
Ration Card/ Driving License/ Passport. No time-consuming
formalities involved.
Union Gold Loan:
Union gold loan provides credit facility to needy farmers. The
lending
rate
is
Rs
1800
per
gram
gold
ornaments.
Based priority sector like agricultural purposes. Under non priority

sector for basic necessities for unforseen expenses. Loan
amount consumption purposes is upto Rs.2000/-. The Non-Priority
Sector loan amount is max.Rs.5 lacs.
HDFC Gold loan:

HDFC gold loan term loan provides instant loans . Regular interest
on loan is being granted. Identity Proof like Passport Copy/ Voters
ID card/ Driving License along with proof like Ration card/
Telephone Bill/ Electricity Bill/ Rental Agreement/ Passport
copy/Trade license /Shop & Est License / Sales Tax certificate, 2
pass port size photographs.
SBI Gold loan:
SBI gold loan is loan which satisfies as a biggest advantage to
overcome crisis and is a personal loan phenomena. It has low
interest rate. The loan amount of Rs 10 lakh is attained by the
customer. It also provides gold loan for farmers for agricultural
necessities. The main documents required for applying gold loans
are
Letter of witness in case of illiterate borrowers.
Two passport size photographs of the borrower.
DP Note delivery.
All the gold ornaments that are to be kept as mortgage for the
loan.
Gold Loan application.
IIFL GOLD LOAN
What is a Gold Loan?

Gold loan or loan against gold is a secured loan in which a customer
pledges his/her gold ornaments as collateral with a gold loan company
and the company in turn gives a loan amount as per the market value of
gold to the customer. It is a very quick and easy way of fulfilling ones
financial needs as compared to the other kinds of loans.
Why should customers take a Gold Loan from IIFL?
The advantages of taking gold loan from IIFL include Minimal paper work and documentation
Very low processing time (few minutes)
Zero processing fee
Low Interest Rate
Instant disbursal of loan
Security and Insurance of Gold Pledged
Eligible to take a gold loan?
Any person salaried/non-salaried/self-employed/student of 21 years of
Age or above having gold of purity of 18 karat or above is eligible to
avail a gold loan from us.
What security/collateral do customers need to provide to avail such

a loan?
Any kind of jewellery/ornament made of gold of purity of 18 karat or
above can be provided as security to avail such loan.
Customers need to provide any documents to avail a gold loan?
A proof of identification in the form of Voters ID/PAN/Passport
No./Driving license and a proof of address would be required to avail a
gold loan from us.
What is the maximum loan amount that customers can take?
Customers can avail a maximum loan of up to 60% of the market value
of your gold. Market value of your gold is calculated according to the
per gram market rate of gold on the day of loan application.
How is the Market Value of customers gold jewellery/ornaments
calculated?
Market value of customers gold is calculated according to the per gram
market rate of gold on the day of loan application. Only the gold part of
ornament /jewellery is used for gold weight calculations; other metals
and stones or gems studded on the ornament/jewellery are excluded
from the calculations.
What is the tenor of these loans?
Minimum tenor is three months while the maximum is twelve months.
How long does it take to avail a gold loan?
The total process of loan disbursal gets over in a few minutes if the
customer provides all the requirements. Once the customer pledges the
gold ornaments and submits the required documents, our staff does all
the required paperwork and disburses the loan as quickly as possible.
What is the processing fee involved to avail such a loan?

Fifty rupees processing fee is involved in availing such a loan.
What is the guarantee of safety of my ornaments/jewellery pledged
with IIFL?
Gold ornaments pledged by you are secured in a fire and burglary proof
vault in our Gold Loan branch. Besides, the branch is under electronic
surveillance and guarded by security all the time. Moreover, the pledged
ornaments are covered by insurance. So your gold is completely safe
with us.
Can customers foreclose a loan account / Can customers closethe
loan account before its tenor? What are the charges involved in such
a case?
Yes, you have an option to foreclose your account where you can payback the loan amount before it's tenor and release your gold from the
branch. No extra charges are involved in such foreclosure apart from
normal interest rates till the date of foreclose. However, a minimum
interest of seven days will be charged in case you wish to foreclose your
account before seven days of the date of availing the gold loan.
Can customers make part payment of my loan amount?
Yes, you can make a part payment where you can pay-back a part of the
total loan amount. Here, you will get an advantage of future interest
being charged only on the balance principal amount left after partpayment. Moreover, you may chose to release a part of your gold
ornaments/jewellery as per the amount of loan paid back.
Can customers part release their gold?
Yes, you can part release your gold but you would have to pay-back a
part of the loan amount as per the value of gold to be released.
Can customers pay the loan amount or interest at any of the PANIndia IIFL gold loan branches?
Yes, you can pay-back your loan amount or interest due at any of the
Pan-India IIFL-Gold Loan branches. However, to redeem your gold
ornaments/jewellery, you will have to visit the branch from which the
loan was availed.
Mortgage Loans
Loan against Property

IIFL brings to you Loan against property (LAP). You can now take a
loan against your residential or commercial property, to expand your
business, plan a dream wedding, fund your childs education and much
more.You can now depend on us to meet all your business requirement
even to purchase a new shop or office for your business.
Loan Features
Loans to expand your business or to meet any personal need.
Loans available against residential, commercial and industrial
property.
Maximum loan to value available.
Repayment through monthly installment.

High tenure loans for ease of repayment
Attractive interest rates
Specially designed products for self employed
Hassle free process / Door step service.
Minimum documentation
Loan transfer- You can also transfer your existing loan against
property or home loan from another institution at attractive rate of
interest for personal or business purpose.
Key Customer segments
Salaried class: Corporate salaries employees, Government employees &
salaried consultants.
Self employed: Proprietorship, Partnership, Companies& Professionals.
Eligibility Income criteria
Non-Prime Home Loans -LAP
Salaried
Rs. 1 Lac per annum (after adjustment of tax)
Self Employed
Min Profit after Tax Rs 1 Lac p.a.
HOME LOAN
A new home brings with it new hopes, joys and emotions. At IIFL, we
have shared new hopes, joys and emotions with our customers. Every
customer has a specific and unique concern and our home loan product
is customized to provide you solutions for your unique concern. IIFL
group has set up India Infoline Housing Finance Ltd. (IIHFL) to offer
highly customized facilities of availing Home Loans.
We believe that in order to succeed, we need to offer not only
competitive products, but also the best possible service and value-added
features and benefits. In a market where the basic product is largely
similar, the differentiator is our ability to understand the customer's need
completely and structure the value-adds appropriately.
Loan Features
Home loan amount suited to your needs
Home loan tenure upto 20 years
Simplified documentation
Key Customer segments
Salaried class: Corporate salaried employees, Government employees &

salaried consultants.
Self employed: Proprietorship, Partnership, Companies& Professionals.
Eligibility Income criteria
Salaried
Gross salary of Rs. 2.5 Lacs p.a.
Self Employed
Min. Profit after tax of Rs. 2 Lacsp.a.
Mandatory Rule
IIFL Health Care:
Healthcare Finance is a business vertical dedicated at offering a
customized financial solutions to Doctor, Diagnostics Centre,
Hospitals, Nursing home etc for their funding needs. With 1.2 beds
per 1000 population there is immense growth potential in this
segment. Growing incomes, literacy and awareness bode well for
the Indian healthcare services market. Considering that 80% of
future Investment in Healthcare is expected to come from Pvt
Sector, we at IIFL see a lot of synergies between the Healthcare
fraternity and IIFL for mutual growth opportunities.
IIFL is extremely delighted to share that we are present in
Healthcare Finance Business.
Loan Features:
Quick & Hassle free loan
Loan amount ranging from Rs 3,00,000/- onward
Tenor ranging from 12 to 84 Months
Flexible Loan To Value
Funding for Ancillary equipments
Flexible EMI options
No Additional Collateral
Minimum Turn Around Time
Key Customer Segment:

Medium & Large Private Hospitals, Nursing Homes, Medical &
Dental Colleges
Diagnostics Centres and Pathology Laboratories
Eye Centres
Small and Medium size Speciality Clients likes skin Clinics,
Dental Clinics etc
Medical Practitioners
Public Private Partnership Venture's
Eligibility:
Indian Citizen
Minimum age of 24
Minimum Qualification MBBS (Applicant / Guarantor)
Minimum Experience of 3 Years
Good Repayment history
INVESTMENT PRODUCT
ICICI Prudential Life Insurance:
IIFL mostly deals with the third party product in which Insurance is one
of the important product. IIFl deals with ICICI Pru Guaranteed Savings
Insurance Plan which is a traditional plan. Which covers following
things:
Guaranteed Maturity Benefit - Your GMB at policy inception
would be Sum Assured, which is sum of all payable premiums.
That means depending on term you have chosen for the Policy
(after completion of 15 or 20 years) you will get your paid
premiums back without any deduction.
Guaranteed Regular Additions -" This guaranteed addition,
expressed as a percentage of the SA, will be declared at the
beginning of every policy year"
Maturity Addition- A lumpsum amount expressed as a percentage
of the SA. This Bonus is estimated in broacher and not marked
guaranteed.
Features and benefits of Guaranteed Savings Insurance Plan

Limited pay: You have a choice of paying premiums for either 7
or 10 years, while enjoying a long term savings benefit under the
plan
Guaranteed benefits: Receive guaranteed benefit at the end of the
policy term in form of Guaranteed Maturity Benefit (GMB):
In the beginning, the GMB would be equal to sum of all
premiums payable under the plan
Additional maturity benefit: Receive additional amount in form
of Maturity Addition (MA) at the end of the policy term
Death Benefit: Receive a Guaranteed Death Benefit (GDB) equal
to the sum of all premiums paid till date compounded at the rate of
5 percent per annum
Easy to purchase: Easy and hassle free application process with
no medicals
Tax benefits: Tax benefits on the premium paid and benefits
received under the policy, as per the prevailing Income Tax laws.
BRANCH PROCESS
Customer
approaches the
branch
Cash handling to
customer
Interaction with CCE
In 5L and above,
conversation with BM
CCE Collecting Gold
Appraisal of gold

Disbursement of cash along with denomination noting in cash register.
Confirms the purity, loan amount and passes the same to CCE.
CCE - At the same time , CCE and valuers does system entry . Signature
of customer, valuers and BM done in the loan docs.paper passed on to
Cashier .
Cashier
BM
Valuer 2
Confirms the purity by testing.
Passes the appraisal sheet to BM.
Confirms the count and gross weight.

Check gold for its purity.
Brief the customer about thier requirement and other features.
Explains the various scheme.

If customer is convinced to pledge , collects KYC documents and gold.
Verification of KYC documents done and passed on to BM for further
verification.
BM-ID and Address Proof verification.
Valuer 1
CCE
GLOLD LOAN FOLW CHART
Operational learning:
Role of staff engaged in a normal branch process:
Security Guard
Customer care executive
Valuer 1 and 2
Branch Manager
Job of Security Guard:
First and foremost things are that security guard needs to be dressed
properly.
Greet the customer
Ask customer the reason for visiting branch
Ask customer to enter details in visitor register
Lead the customer to branch
Role of customer care executive:
Handling inquiries from customers regarding loans against gold.
Helping customer to solve his / her all query.
Explaining terms and conditions of the product to the customer.
Counting jewel items in front of customer and taking his/her all
query.
Ensuring all the KYC documents are verified with original.
Ensuring all the details are filled up in customer detail form.

Role of valuer 1 and valuer 2:
Checking the jewellery with accuracy.
Testing gold with two methods which includes , skin test and salt
test.
Finding out the purity and making appraisal sheet.
Working out on loan amount with mutual conversation.
Every gold jewellery item must be counted and matched with the
appraisal sheet before inserting it in gold packet.
Each and every details mention on packet must be filled in with
accuracy.
It is important to keep gold packet in serial order in vault .
Steps to be followed while appraising gold
Sort gold items according to solid , chains and others.
Confirm the purity with the help of touch stone and acid test.
Note down result in following format:
Name of
item
Gross
weight
Net weight
Pass out gold to valuer 2 for re- valuation

Per Gram
Rate
Amt (Net
wt.*Per gm
rate)
Suggest lower loan amount to BM.
Steps to be followed while sealing of gold

Fill in the details on the packet
Insert the gold and appraisal sheet in the packet
Fix the sticker
Sign on the sticker (BM and valuer 1)
Affix the seal on sticker
Keep the gold packet in vault in serial order mentioning the GL
number (to and from)
Role of cashier:
To make sure that cash is taken from vault strictly as per cash
denomination entered in the system.
Ensuring that cash is counted twice before giving it to customer.
To make sure that cash transaction is done in front of cctv camera.
Steps to followed at the time of cash handling:
Joint custodians open the vault room.
Take cash as per cash denomination entered in system
Pass out the same to cashier to re-count.
Handover the cash to customer in front of cctv camera.
RESEARCH METHODOLOGY
RESEARCH DESIGN OF THE STUDY
The study is based on survey technique. The study consists of analysis and Market Scoping of
Financial product of IIFL. For the purpose of the study customers 60 are picked up and their
views solicited on different parameters. The methodology adopted includes
Questionnaire
Random sample survey of customers
Discussions with the concerned
Personal interviews and informal discussions were held with customers to ascertain the
awareness level. Further applying simple statistical techniques has processed the data collected.
SOURCES OF DATA:
Primary data: Questionnaire
Secondary data: are published materials such as periodicals, journals, news papers, and
website.
SAMPLING PLAN:
Sampling since segment wise investors in IIFL are not available for the overall customers was
considered for the study. 100% coverage was difficult within the limited period of time. Hence
sampling survey method was adopted for the purpose of the study.
Population: (universe) customers of IIFL
Sampling size: A sample of hundred was chosen for the purpose of the study.
Sampling Methods: Probability sampling requires complete knowledge about all sampling
units in the universe. Since due to time constraint non-probability sampling was chosen for
the study.
Sampling procedure:From large number of customers of IIFL. Were randomly picked up.
Field Study: directly approached respondents.
DATA COLLECTION INSTRUMENT

COLLECTION OF DATA THROUGH QUESTIONNAIRES:
The data collected for the study purpose is through questionnaires. customers of IIFL have
been selected randomly for the study purpose and then the information revealed from
the customers is analyzed and interpreted in the study.
ORGANISATION OF FIELD WORK
Initial field work has done for pre testing tools for data collection. The data is collected
through the direct interaction with the customers through questionnaires answered by
them. Customers of IIFL were randomly chosen for the purpose of the study in Vashi.
LIMITATION OF THE STUDY:-
Time limit is a major constraint.

This research reflects on individual customer in Vashionly. So
findings and suggestion given on the basis of this research
cannot be extrapolated to the entire population.
Sample size of the questioner is 100 which is very small that is
not enough to study the awareness of consumer of that particular
above area.
Respondent are not sincere and care full to fill up the questioner
so we cannot find right solution.
As per the company rules many information was not disclosed.
As the managers are busy in their duty schedules it is not
possible for us to spend more time in interaction and discussion
with them.
OPERATIONAL LEARNING
Data analysis
Q.1) Occupation of respondents?
a) Household
b)Business man
c) Government Employee
d) Private Employee
06
35
14
45
Chart Title
50
45
40
35
30
25
20
15
10
5
0
Household
Business man
Government
Private Employee
Here, we can see that maximum number of clients i.e., 45 clients are private employee 35 clients
are business man14 clients are government employee and 06 clients are house hold which
responded.
Q.2) How many times in year you have emergency

requirement of money?
a) 0
b) 1
c) 2
d) 3
e) 4
f) 5
g) 6
05%
15%
35%
25%
12%
5%
3%
CHART
40%
35%
30%
25%
CHART
20%
15%
10%
5%
0%
a)0
b)1
c)2
d)3
e)4
f)5
g)6
Here, we can see that maximum number of clients i.e.,35%Respondents have two time
emergency requirement of money , 25%Respondents have 3 times requirement of money and
5%Respondents dont have the requirement of money.
Q.3) Are you aware about concept of gold loan?

a) Yes
b)No
66%
34%
CHART
70
60
50
CHART
40
30
20
10
0
Yes
No
Here, we can see that maximum number of clients i.e., 66% clients are aware about the concept
of gold loan while in the other hand only 34% clients are not aware about the concept of gold
loan.
Q.4) Have you ever used gold loan service?

a) Yes
b) No
20%
72%
CHART
80%
70%
60%
50%
CHART
40%
30%
20%
10%
0%
Yes
No
Here, researcher can see that maximum number of clients i.e., 72% clients never used gold loan
services, while in the other hand only 28% of Respondents used the gold loan services.
Q.5) How did you get the information about IIFL Gold loan?
a) Family relatives
b) Friends and colleagues
c) Internet
d) Advertisement
54%
23%
17%
6%
CHART
60%
50%
40%
30%
20%
CHART
10%
0%
Here, we can see that maximum number of clients i.e., 54% clients got the information from
family relatives , 23% clients got the information from friends and colleagues , 17% clients got
the information from internet and 6% clients got the information from advertisement .
Q.6).Your opinion about interest charged by the IIFL?

a)Very High
b) High
c) Reasonable
d)Low
14%
10%
64%
12%
CHART
70%
60%
50%
CHART
40%
30%
20%
10%
0%
Very High
High
Reasonable
Low
Here, we can see that maximum number of clients i.e., 64% clients said that interest charged by
IIFL is reasonable, 12% clients said its low,14 clients said its very high , and 10 clients said its
high .
Q.7) Reason for taking Loan from IIFL?
a)Faster Processing
b)Low Interest Rates
c)Brand image of the Company
d) Margin Amount
e)Others
58%
22%
12%
6%
2%
CHART
70
60
50
40
30
20
10
0
CHART
Here, we can see that maximum number of clients i.e., 58 clients responded that faster
processing is reason behind taking loan from IIFL, 22clients responded its due to low interest
rates, 12 clients responded its due to Brand image of the company, 6 client responded its due to
margin amount while in the other hand only 2 client responded for other option.
Q.8) What according to you is the safest instrument of Investment & Saving?
a)Banks Saving A/C
b)Insurance
31%
7%
c)Real Estate
d)Stocks & Shares
e)Fixed Deposit
f)Post Office
18%
9%
19%
16%
Series 1
35%
30%
25%
20%
15%
10%
Series 1
5%
0%
Here, we can see that maximum number of clients i.e.,31 clients responded banks saving a/c is
safest instrument of investment and saving, 18 clients responded real estate is safest, 19 clients
responded for fixed deposit, 16 clients for post office, 7 clients responded for insurance while in
the other hand only 9 clients responded for stocks and share
Q.9) Do you have your owned house or rented ?
a)owned
b)rented
73%
27%
Series 1
80%
70%
60%
50%
Series 1
40%
30%
20%
10%
0%
Owned
Rented
Here, we can see that maximum number of clients i.e., 73% clients have owned house , while in
the other hand only 27% clients have rented house.
Q.10) Have you taken

housing loan ?
a)Yes
b)No
24%
76%
Series 1
80
70
60
50
Series 1
40
30
20
10
0
Yes
No
Here, we can see that maximum number of clients i.e., 24% clients taken housing
loan, while in theother hand only 76% clients not taken housing loan.
Q.11) Have you made any provision for your retirement?
a)Yes
b)No
29%
71%
Series 1
60%
50%
40%
Series 1
30%
20%
10%
0%
Yes
No
Here, we can see that maximum number of clients i.e., 29% clients made the provision for their
retirement, while in the other hand only 71% clients not made any provision for retirement.
Q.12) Looking at the recent downfall in Gold prices last month did you feel the urge to buy gold
at such low prices?
A. Yes
B. No. 22%
78%
Series 1
90%
80%
70%
60%
Series 1
50%
40%
30%
20%
10%
0%
Yes
No
Here, we can see that maximum number of clients i.e., 78% clients feel the urge to buy gold ,
while in the other hand only 22% clients dont feel the urge to buy gold.
CONCLUSIONS
On the basis of the study it is found that IndiaInfoline Ltd is better services provider than
the other NBFCs because of their good service and personalized advice on gold loan and
financial investment product.
IIFL provides the faster services as well as relationship manager facility for
encouragement and protects the interest of the investors. It also provides the information through
the internet and mobile alerts.
Study also concludes that people are not much aware of IIFL gold loan services.
The company should also organize seminars and similar activities to enhance the
knowledge of prospective and existing customers, so that they feel more comfortable while
investing in the financial products.
The company should focus on the advertising strategy and also the marketing of the
product.
FINDINGS
According to the survey most of the customers of InfolineLtdsays that rate of interest
charged by IIFL is satisfactory.
Coming to faith 59% say India Infoline Ltd is better than others NBFCs due to
customers satisfaction. Lack of promotional activities undertaken by India Infoline Ltd. in Vashi.
IIFL gold loan is less preferred by the general people might because of less awareness
about IIFL goal loan services.
People want to invest their money in the bank saving accounts rather than insurance, fixed
deposit, stocks and shares.
Most of respondents have their annual income between 2lac to 4lacand from them most of the
people prefer LIC for insurance.
Many people know the concepts of gold loan in spite of that they dont take
Gold loan.
RECOMMENDATIONS& SUGGESTIONS
Most of the people are not much aware of IIFL gold loan services and its benefit. So
INDIA INFOLINE FINANCIAL LIMITED can take general awareness of GOLD LOAN
SERVICES plan to the customers. INDIA INFOLINE should maintain the customer
satisfactions.
There is lack of new customer addition in the branches of Indian Infoline Financial
Limited, only existing customer comes to respective branches for gold loan so it is important to
increase the awareness about the financial products of Indian Infoline Financial Limited in
respective area. Some promotional activities are required for the awareness of the customer.
The Company should increase Exposure. It is the good tool to capture the market. To
increase awareness about GOLD LOAN SERVICES AND OTHER FINANCIAL PRODUCT
and the name India Infoline itself, the company should organize campaign. The campaign can be
weekly, monthly, yearly, it will give a good result to the company to capture market in the
competitive position.
ANNEXURE
Name: _________________________
Date of Birth: _________________________
Marital Status:
Married
Single
Contact: ________________________
Email ID: ___________________________
Residence Location:_________________________
__________________________________________
No of Dependent: ___________________________
No. Of Earning Member: _____________________
Your Income p.a.: _________________________
Family Income: ________________________________
My Family Details:
Sr.No.
Name
Relation
1.
2.
3.
4.
5.
Q.1) Occupation of respondents

a) Farmer / Household [ ]
b) Govt. Employee [ ]
Age
d) Business man [ ]
c) Private employee [ ]
Q.2) How many times in a year you have emergency requirement of money?
0
Q.3) Are you aware about concept of gold loan?

a)
Yes
b)
No
Q.4) Have you ever used gold loan service?

a)
Yes
b)
No
Q.4) How did you get the information about IIFL Gold loan?
a) Advertisement [ ]
b) Friends &colleagues [ ]
c) Family& relatives [ ]
d) Internet [ ]
e) Other [ ]
Q.5) Your opinion about interest charged by the IIFL?
a) Very High [ ]
b) High [ ]
c) Reasonable [ ]
d) Low [ ]
Q.6).How do you rate the Interest rates charged by IIFL?

a. Highly Satisfactory
c. Averagely Satisfactory
b. Satisfactory
d. Dissatisfactory
e. Highly Dissatisfactory
Q.7) What according to you is the safest instrument of Investment &Saving?
Banks Saving A/C
Insurance
Real Estate
Stocks & Shares
Fixed Deposit
Post Office
Others_______________________
Q.8) what is your approximately Monthly Household Expenses?
>
10,000
Up to 15,000
Up to 20,000
Up to 25,000
Above 30,000
Q.9) how many times in a year do you have taken Gold loan?
0
Q.10) Do you have your owned house or rented?

a)
Owned
b)
rented
Q.11) Have you taken housing loan?

a)
Yes
b)
No
Q.12) Have you made any provision for your retirement?

a)
Yes
b)
No
Bibliography
Websites:
www.indiainfoline.com
http://www.iiflfinance.com/Products/GoldLoan.aspx
http://www.neytri.com/gold-loans-what-you-must-know/
http://www.muthootfinance.com/services/gold-loan.html
http://www.agloc.org/
www.mutualfundsindia.com
www.google.com
References:
Indian Gold Loan Market Cognizant
The Economic TimesMannapuram General Leasing Finance Limited

From IIFL branch, Factsheets of various companies, like ICICI Prudential, Reliance,etc.

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ANJUMAN-I- ISLAMS ALLANA INSTITUTE OF

MANAGEMENT STUDIES & RESEARCH

Market Scoping and analysis of Financial

For the summer internship at

I, SHAHID SABLE, Student of ANJUMAN-I-ISLAMS

NAME: SHAHID SABLE

INDIA INFOLINE FINANCIAL LIMITEDPage 2

(SIGNATURE OF THE CANDIDATE)

INDIA INFOLINE FINANCIAL LIMITEDPage 3

INDIA INFOLINE FINANCIAL LIMITEDPage 4

INDIA INFOLINE FINANCIAL LIMITEDPage 5

Introduction Of The Topic

INDIA INFOLINE FINANCIAL LIMITEDPage 6

companies act, 1956 with registration number 1193797. And become a

Sri Lanka(Colombo stock exchange) .

R.VENKATARAMA(Managing director) of this group. , the group

highest standards of excellence, ethics and professionalism. The entire

INDIA INFOLINE FINANCIAL LIMITEDPage 8

Employees can also directly communicate with the top

Marketing Strategy of IIFL

Training Channel Members:

IIFL have a presence in:

IIFL offers private wealth advisory services to high-net-worth

INDIA INFOLINE FINANCIAL LIMITEDPage 15

R Venkataraman Managing Director,IIFL

INDIA INFOLINE FINANCIAL LIMITEDPage 17

Mr. Nilesh Vikamsey- Independent Director , India Infoline Ltd

Mr. Kranti Sinha- Independent Director , India Infoline Ltd.

Director and Chief Executive of LIC Housing Finance Limited from

Mr. A. K. Purwar- Independent Director , India Infoline Ltd

Head Offices In Mumbai

INDIA INFOLINE FINANCIAL LIMITEDPage 20

GLOBAL OFFICES OF INDIA INFOLINE LTD

IIFL - Hong Kong

INDIA INFOLINE FINANCIAL LIMITEDPage 22

INDIA INFOLINE FINANCIAL LIMITEDPage 23

INDIA INFOLINE FINANCIAL LIMITEDPage 24

MAJOR COMPETITORS IN GOLD LOAN

Based priority sector like agricultural purposes. Under non priority

HDFC Gold loan:

IIFL GOLD LOAN

What is a Gold Loan?

INDIA INFOLINE FINANCIAL LIMITEDPage 27

What security/collateral do customers need to provide to avail such

INDIA INFOLINE FINANCIAL LIMITEDPage 28

What is the processing fee involved to avail such a loan?

INDIA INFOLINE FINANCIAL LIMITEDPage 29

Loan against Property

Repayment through monthly installment.

Min Profit after Tax Rs 1 Lac p.a.

INDIA INFOLINE FINANCIAL LIMITEDPage 32

Salaried class: Corporate salaried employees, Government employees &

Key Customer Segment:

INDIA INFOLINE FINANCIAL LIMITEDPage 35

INDIA INFOLINE FINANCIAL LIMITEDPage 36

Features and benefits of Guaranteed Savings Insurance Plan

INDIA INFOLINE FINANCIAL LIMITEDPage 37

Interaction with CCE

INDIA INFOLINE FINANCIAL LIMITEDPage 38

CCE Collecting Gold

INDIA INFOLINE FINANCIAL LIMITEDPage 39

Confirms the count and gross weight.

Explains the various scheme.