You are on page 1of 71

Karvy Stock Broking Ltd, Gadag

Executive summary:This project has been a great learning experience for me; at the same time it gave me enough
scope to implement my analytical ability.
Objectives of the study:
1. To study and analyse the process of Dematerialisation and Investors

opinion towards

Demat Processing.
2. To know and explain procedure for opening of Demat account and process of
dematerialization of securities to eliminate the problem related with physical holdings of
securities.
3. To explain the advantages of Dematerialisation of securities, convince and make them to
dematerialize their securities.
4. To know the problem faced by the investor and reason for physical holdings of securities
without dematerialization of securities.
5. To give awareness among the investors about Demat and to make them to open Demat
Account.

FINDINGS
1. People are interested in share market by but they are not much aware about the share
market procedure.
2. The money problem with share market a big problem
3. Trading problem is also a big problem.
4. Other group people like agricultural are not aware and interested in share market.

Karnataka University Post Graduate, Gadag

Page 1

Karvy Stock Broking Ltd, Gadag


Suggestion:
The detail study of the project idea to the following recommendation:1. The company should come up with some good strategies to create awareness among people
regarding the financially Demat.
2. The company as soon as possible should try to convert itself into a bank so that many
people come in contract and joint with company.
3. They should try to provide some extra services to their customers.
4. The company should concentrate more on after sales services.

CONCLUSION:
Concerning my project title CONSUMER SATISFACTISFACTION REGARDING
DEMAT SERVICES IN JAIPUR the survey conducted by me as I found that the consumer
satisfactions the only way for the success of any organization in the present time. And I came
to the following conclusion which is as follows
Response was very good from the customer regarding financial product because in
this time every one wants more return on less investment and in case of demat they
want true time to open the demat ( like at the time of issues ).
Karvy gaining good response in the demat field by providing good services.
I concluded by this that research that services and returns got more importance than

goodwill.
In the last six month it has opened the maximum number of Demat account at the
time of new public issues than any other companies.

I also conclude that many financial services at one place is the another reason of its
popularity.

Karnataka University Post Graduate, Gadag

Page 2

Karvy Stock Broking Ltd, Gadag

Chapter -1
INTRODUCTION

Introduction
Karnataka University Post Graduate, Gadag

Page 3

Karvy Stock Broking Ltd, Gadag


In most industrialized countries, a substantial part of financial wealth is not managed directly
by savers, but through a financial intermediary, which implies the existence of an agency
contract between the investor (the principal) and a broker or portfolio manager (the agent).
Therefore, delegated brokerage management is arguably one of the most important agency
relationships intervening in the economy, with a possible impact on financial market and
economic developments at a macro level.
In most of the metros, people like to put their money in stock options instead of dumping it in
the bank-lockers. Now, this trend pick pace in small but fast developing cities like
Chandigarh, Gurgaon, Jaipur etc. My research is based on the residents of JAIPUR and its
nearby areas.
As the per-capita-income of the city is on the higher side, so it is quite obvious that they want
to invest their money in profitable ventures. On the other hand, a number of brokerage houses
make sure the hassle free investment in stocks. Asset management firms allow investors to
estimate both the expected risks and returns, as measured statistically. There are mainly two
types of Portfolio management strategies.
1. Passive Portfolio Strategy
2. Active Portfolio Strategy
1. Passive Portfolio Strategy: A strategy that involves minimal expectation input, and
instead relies on diversification to match the performance of some market index. A
passive strategy assumes that the marketplace will reflect all available information in
the price paid for securities
2. Active Portfolio Strategy: A strategy that uses available information and forecasting
techniques to seek a better performance than a portfolio that is simply diversified
broadly.

Karnataka University Post Graduate, Gadag

Page 4

Karvy Stock Broking Ltd, Gadag

Chapte
r -2
INDUS
TRY
OVER
VIEW

Industry overview

Karnataka University Post Graduate, Gadag

Page 5

Karvy Stock Broking Ltd, Gadag


The emergence of stock market can be traced back to 1830. In Bombay, business passed in
the shares of banks like the commercial bank, the chartered mercantile bank, the chartered
bank, the oriental bank and the old bank of Bombay and shares of cotton presses. In Calcutta,
Englishman reported the quotations of 4%, 5%, and 6% loans of East India Company as well
as the shares of the bank of Bengal in 1836. This list was a further broadened in 1839 when
the Calcutta newspaper printed the quotations of banks like union bank and Agra bank. It also
quoted the prices of business ventures like the Bengal bonded warehouse, the Docking
Company and the storm tug company.
Between 1840 and 1850, only half a dozen brokers existed for the limited business. But
during the share mania of 1860-65, the number of brokers increased considerably. By 1860,
the number of brokers was about 60 and during the exciting period of the American Civil war,
their number increased to about 200 to 250. The end of American Civil war brought
disillusionment and many failures and the brokers decreased in number and prosperity. It was
in those troublesome times between 1868 and 1875 that brokers organized an informal
association and finally as recited in the Indenture constituting the Articles of Association of
the Exchange. On or about 9th day of July,1875, a few native brokers doing brokerage
business in shares and stocks resolved upon forming in Bombay an association for protecting
the character, status and interest of native share and stock brokers and providing a hall or
building for the use of the members of such association.
As a meeting held in the broker Hall on the 5 th day of February, 1887, it was resolved to
execute a formal deal of association and to constitute the first managing committee and to
appoint the first trustees. Accordingly, the Articles of Association of the Exchange and the
Stock Exchange was formally established in Bombay on 3rd day of December, 1887. The
Association is now known as The Stock Exchange.
The entrance fee for new member was Re.1 and there were 318 members on the list, when the
exchange was constituted. The numbers of members increased to 333 in 1896, 362 in
1916and 478 in 1920 and the entrance fee was raised to Rs.5 in 1877, Rs.1000 in 1896,
Rs.2500 in 1916 and Rs. 48,000 in 1920. At present there are 23 recognized stock exchanges
with about 6000 stockbrokers. Organization structure of stock exchange varies.14 stock
exchanges are organized as public limited companies, 6 as companies limited by guarantee
and 3 are non-profit voluntary organization. Of the total of 23, only 9 stock exchanges have
been permanent recognition. Others have to seek recognition on annual basis.

Karnataka University Post Graduate, Gadag

These

Page 6

Karvy Stock Broking Ltd, Gadag


exchange do not work of its own, rather, these are run by some persons and with the help of
some persons and institution. All these are down as functionaries on stock exchange. These
are
1. Stockbrokers
2. sub-broker
3. market makers
4. Portfolio consultants etc.

1.)Stockbrokers:-Stock brokers are the members of stock exchanges. These are the persons
who buy, sell or deal in securities. A certificate of registration from SEBI is mandatory to act
as a broker. SEBI can impose certain conditions while granting the certificate of registrations.
It is obligatory for the person to abide by the rules, regulations and the buy-law. Stock
brokers are commission broker, floor broker, arbitrageur etc

.2.) Sub-broker:- A sub-broker acts as agent of stock broker. He is not a member of a stock
exchange. He assists the investors in buying, selling or dealing in securities through
stockbroker. The broker and sub-broker should enter into an agreement in which obligations
of both should be specified. Sub-broker must be registered SEBI for a dealing in securities.
For getting registered with SEBI, he must fulfill certain rules and regulation.

3.) Market Makers:- Market maker is a designated specialist in the specified securities.
They make both bid and offer at the same time. A market maker has to abide by bye-laws,
rules regulations of the concerned stock exchange. He is exempt from the margin
requirements. As per the listing requirements, a company where the paid-up capital is Rs. 3
crore but not more than Rs. 5 crore and having a commercial operation for less than 2 years
should appoint a market maker at the time of issue of securities.

4.) Portfolio consultants:-A combination of securities such as stocks, bonds and money
market instruments is collectively called as portfolio. Whereas the portfolio consultants are

Karnataka University Post Graduate, Gadag

Page 7

Karvy Stock Broking Ltd, Gadag


the persons, firms or companies who advise, direct or undertake the management or
administration of securities or funds on behalf of their clients.

Broking Firms
A transaction on a stock exchange must be made between two members of the
exchange a typical person may not walk into the New York Stock Exchange
(for example), and ask to trade stock. Such an exchange must be done through a
broker.
There are three types of stock broking service.

Execution-only, which means that the broker will only carry out the client's

instructions to buy or sell.


Advisory dealing, where the broker advises the client on which shares to buy and sell,

but leaves the final decision to the investor.


Discretionary dealing, where the stockbroker ascertains the client's investment
objectives and then makes all dealing decisions on the client's behalf.

In addition to actually trading stocks for their clients, stock brokers may also offer advice to
their clients on which stocks, mutual funds, etc. to buy.

Definition of Stock Broker


All stock investors have one thing in common, whether they trade in penny shares or are
long-term share investors; they all have to work through stock brokers.
When entering the world of the stock market, choosing a stock broker is your first priority
and may be the most important choice you will make. There are many choices in stock
brokers and you need to understand the key differences in each in order to better make your
decision.
Traditionally, full-service stock brokers were the only type that was available. They charged
very high commission fees but also gave a lot of help and guidance in choosing the right
investments. In 1975, all of that changed and the discount stock brokers became the reigning

Karnataka University Post Graduate, Gadag

Page 8

Karvy Stock Broking Ltd, Gadag


champs of the investing world. In the last decade, the internet has permitted individual
investors to research their own potential stocks for themselves, and even buy and sell stocks.
There have been advantages to the arrival of the discount stock broker and online brokerage
firm, but for some investors it has led to more mistakes in a smaller time. The key is doing
your research and investing wisely.
On one end of the spectrum are the discount and online stock brokers. These brokerage firms
act as order takers for their investors. The investor places an order on the telephone or online.
The only help given is with the technical aspects of the website or the ordering process. There
is no guidance given as to which stocks to buy, when to buy or when to sell. Many online
brokerage firms offer their members access to stock market research, but this is provided by a
third party. The account management tools help you understand how greatly you have
invested and where it is going. These tools are generally online or downloadable. The
discount and online stock brokers are for people either already familiar with the stock market,
or those who do not have much money to invest. They do require that the investor spend
some time researching and planning their investments. If you are interested in doing your
own research or want to dodge hefty brokerage fees than discount and online brokers may be
for you.
The next level in service is a discount or online brokerage with an assistance stock broker.
The assistance stock broker will give a small amount of help. In online brokerage firms, the
assistant stock broker takes the form of offering more research available and newsletters with
investing tips. There is still a quantity of research that wants to be done by the individual
investor, but these brokerages at least point their clients in the correct direction.
The traditional full service stock broker provides recommendations for specific shares that
would be good for your portfolio. The stock broker analyzes your financial situation to figure
out your needs. They put together an investing plan that is reviewed periodically and adjusted
as needed. Full-service stock brokers are an admirable choice for those who dont have the
time or the interest in staying on top of the newest economic news. The full service
stockbroker does all the research for you and presents you with the best investments for your
situation. Their clients are handled with awareness to special details and goals. This
awareness does come with hefty commission fees, but considering the quantity of work and
dedication that full service stock brokers give, these fees are understandable. Traditional fullservice brokers make money based on the quantity of transactions they facilitate.

Karnataka University Post Graduate, Gadag

Page 9

Karvy Stock Broking Ltd, Gadag


A money manager is one level up from a full-service stock broker in their level of economic
services. Money managers (also called economic advisors) will work with clients to develop
their total financial picture, which may or may not include investing in stocks. Money
managers support stocks and bonds for clients. Each one has his or her own exclusive style
and so it is important that you decide wisely to make sure your money manager has the same
economic philosophy that you do. A professional money manager does not collect
commissions on transactions. They are salaried from a percentage of the assets under their
management. In that way, they are working for you and themselves at the same time. If your
portfolio grows, their commission will grow as well.

Karnataka University Post Graduate, Gadag

Page 10

Karvy Stock Broking Ltd, Gadag

Chapte
r -3
COMP
ANY
PROFI
LE
COMPANY PROFILE
KARVY is founded by a group of Hyderabad based CHARTED ACCOUNTANTS in 1982 as
a professional service firm. In the span of 25 years, KARVY has traveled the success route,

Karnataka University Post Graduate, Gadag

Page 11

Karvy Stock Broking Ltd, Gadag


towards building a reputation as an integrated financial services provider, offering a wide
spectrum of services.
KARVY has 575 offices over 375 locations across India and overseas at Dubai and Newyork.
Around 600000 active business associates are being attached with KARVY across the
country. It also comprises of 9000 highly qualified employees and professionals.
Karvy was established as karvy and company by five chartered accountants during the year
1979-80, and then its work was confined to audit and taxation only. Later on it diversified
into financial and accounting services during the year 1981-82 with a capital of rs.150000. It
achieved its first milestone after its first investment in technology. Karvy became a known
name during the year 1985-86 when it forayed into capital market as registrar.

KARVY group consists of 8 highly renowned entities which are as follow:


1.karvy consultants limited : The first securities registry to receive ISO 9002 certification in

India. Registered with SEBI as Category I Registrar, is Number 1 Registrar in the Country.
The award of being Most Admired Registrar is one among many of the acknowledgements
we received for our customer friendly and competent services.
2.karvy stock broking limited : karvy stock broking ltd. Consists of five units namely stock
broking servics, depository participant, advisory services, distribution of financial products,
advisory services and private client goups.
3.karvy investor services limited : it is registered with SEBI as a category 1 merchant
banker. Its clientele includesinclude leading corporates, State Governments, foreign
institutional investors, public and private sector companies and banks, in Indian and global
markets.
4.karvy insurance broking private limited: karvy insurance broking ltd is also a part of
karvy stock broking ltd.At Karvy Insurance Broking Limited both life and non-life insurance
products are provided to retail individuals, high net-worth clients and corporates.
5. karvy comtrade limited:The company provides investment, advisory and brokerage
services in Indian Commodities Markets. And most importantly, it offer a wide reach through
our branch network of over 225 branches located across 180 cities.

Karnataka University Post Graduate, Gadag

Page 12

Karvy Stock Broking Ltd, Gadag


6.karvy global service limited:Karvy Global is a leading business and knowledge process
outsourcing Services Company offering creative business solutions to clients globally. It
operates in banking and financial services, inurance, healthcare and pharmaceuticals, media ,
telecom and technology. It has its sales and business development office in New York, USA
and the offshore global delivery center in Hyderabad, India
7.karvy realty & service India limited : Karvy Realty (India) Limited is engaged in the
business of real estate and property services offering:

Buying/ selling/ renting of properties

Identifying valuable investments opportunities in the real estate sector

Facilitating financial support for real estate and investments in properties

Real estate portfolio advisory services

8.karvy computershare limited : it is a joint venture between Computershare, Australia and


Karvy Consultants Limited, India in the registry management services industry.
In spite of all this KARVY has its RESERCH CENTER in Hyderabad and also a member of
Hyderabad Stock exchange. It is also a member of National Stock Exchange and Bombay
Stock Exchange.

Spectrum of services offered by karvy


Karvy being the top registrar and transfer agent, functions as registrar in most of the issues in
the country. Talking about the mutual fund services offered by karvy, we can get the products
of 33 AMCs over here. it deals in both closed ended funds as well as open ended too. Now
one must be thinking why to get the mutual funds from karvy instead of getting it directly
from AMCs???we have great reasons for it: the first one being ; if we avail the services of
karvy then we can get the information about all the AMCs and their products at a single place
along with expert recommendations whereas at an AMC we can get information about the
products of that specific AMC only. And the second being wide network of
karvy.nowadays we can find karvy offices at remote areas too.

Karnataka University Post Graduate, Gadag

Page 13

Karvy Stock Broking Ltd, Gadag


Along with these, karvy is very well handling the role of depository participant. Being
registered with both the depositories i.e.; NSDL (national securities depository ltd) and CDSL
(central depository services ltd), karvy can have access to both. Its wide network also
facilitates it in distribution of retail financial products.
Karvy believes in being updated always. So it is always ready to use latest technologies so
that its clients always be in touch with the latest happenings along with karvy. It offers ebusiness through internet through its website: www.karvy.com . Other than it, it also provides
its various services through SMSes.
Karvys services are not limited to its investors only rather its offerings are for its corporate
clients and distributors too. it is very well aware of the fact that in this era of neck to neck
competition, we cant ignore any of the aspects of our business.so theres a offering for
everybodyeveryones welcome at karvy.

Why should investors choose for karvy?


Excellence is next to nothing.and here at karvy everybody tries their best to offer excellent
services to its clientele through its offerings maintaining the karvy culture which includes:
1. Controlled and low cost service culture: karvy is there to serve its client at the minimum
possible cost. it controls cost by its various cost- cutting techniques and minimization of
avoidable costs.
2. Large volume processing capability: being the largest financial service provider in the
country, it has the unique distinction of operating its activities on a large scale which benefits
all the parties cordially.
3. Adherence to strict time schedule: karvy knows that time is money and tries it best to
finish the task within the stipulated time schedule.
4. Expertise in the queries and in responding to any situation.
5. Expertise in managing independent entities such as banks, post-office etc.: the work
culture of karvy and the ethics followed inside karvy makes its workforce compatible with
everybody, so the karvy people establishes good coordination with independent entities too.
6. Pooling of group resources: karvy group consists of eight subsidiaries, so it can easily
pool up its resources for accomplishment of its goals, whenever needed. The groups can help
Karnataka University Post Graduate, Gadag

Page 14

Karvy Stock Broking Ltd, Gadag


each other whenever there are peaks and lows, and even in the case when they have huge
targets just as we saw few years back, Tata group pooling its resources to acquire Corus.

How karvy achieved it?


The core competency of karvy lies in the following points due to which it enjoys a
competitive edge over its competitors. The following culture adopted by karvy makes it all
timefavorite among its clientele:
1. Professionally managed by qualified and trained manpower.
2. Uniquely structured in-house software and hardware department
3. Query handling within 48 hrs.
4. Strong secretarial, accounting and audit systems.
5. Unique work culture of working 7 days a week in 3 shifts.
6. Unmatched network spreading all over India.

Achievements of the KARVY :The landmarks achieved by karvy very well define its success story. In the previous pages,
we learnt how a company started by five chartered accountants, named as karvy and company
turned into todays karvy group, the largest financial intermediary of India. But success didnt
came to karvy at a flow, the hard work and dedication of its workforce made it what it is
todaygradually it achieved the following landmarks and now it has became what we call
the karvy group, now it is:
1. Largest independent distributor for financial products.
2. Amongst the top 5 stock broker.
3. Among the top 3 depository participants.
4 largest networks of branches & business associates.
5 . ISO 9002 certified operations by DNV.
6.Amongst top 10 investment bankers.

Karnataka University Post Graduate, Gadag

Page 15

Karvy Stock Broking Ltd, Gadag


7. Adjudged as one of the top 50 IT users in India by MIS south Asia.
8. Full- fledged IT driven operation.
9. Indias no.1 registrar & securities transfer agent.

Clientele of karvy
Karvys culture has helped karvy in achieving such a distinct position in the market where it
can boast of its huge client base. Be it a retail investor investing Rs. 500 in a SIP in Reliance
mutual fund or be it the largest corporate house of the country: Reliance industrieseverybody is heading towards karvy for their wealth maximization, lets have a look at the
clientele of karvy:
According to the datas published in year 2007, karvy stock broking ltd. Operates through
more than 12000 terminals, more than 290000 accounts are maintained and commands over
3.14% market share of NSE. The distribution services have access to more than Rs. 40 billion
Assets under Management. Karvy being a depository participant with both NSDL and CDSL
manages more than 700000 accounts from more than 380 locations. Talking about the
registry services, it manages over 750 public/ right issues. at the same time, it is managing
over 16 million portfolios as registars.
If we took a look at some of the top corporate houses availing the services of karvy then we
have:

Reliance, IOC, IDBI,LIC, Hindustan Unilever, Principal Mutual Fund, Duetsche

Mutual Fund, Yogokawa, Marico Industries, Patni Computers, Morgan Stanley, Glenmark,
CRISIL, 3M, Kotak Mahindra Bank, BhartiTeleventure, Infosys Technologies, Wipro,
InfoTech, IPCL,TATA consultancy services, UTI mutual fund etc. Thus in total karvy serves
over 16 million investors and 300 corporate.

Karnataka University Post Graduate, Gadag

Page 16

Karvy Stock Broking Ltd, Gadag


Structure according to the Products offered by Karvy

REGIONAL
HEADS

PRODUCT
HEADS

Debt
division

Realty

Mutal
funds

Insuranc
e
broking

Commo
dities

Stock
broking

Karnataka University Post Graduate, Gadag

Deposit
ory
particip
ant

Merchan
t
&inv.ban
king

PMS

Page 17

Karvy Stock Broking Ltd, Gadag


Karvy Investor Services Limited :Deepening of the Financial Markets and an ever-increasing sophistication in corporate
transactions, has made the role of Investment Bankers indispensable to organizations seeking
professional expertise and counselling, in raising financial resources through capital market
apart from Capital and Corporate Restructuring, Mergers & Acquisitions, Project Advisory
and the entire gamut of Financial Market activities.
Karvy Investor Services Limited (KISL), a SEBI registered Merchant Banker has emerged
as a leading Investment Banking entity in the country with over a decade of experience. KISL
has built its reputation by capitalizing on its qualified professionals, who have successfully
executed a large number of complex and unique transactions.
Our quality professional team and our work-oriented dedication have propelled us to offer
value-added corporate financial services and act as a professional navigator for long term
growth of our clients, who include leading corporates, State Governments, Foreign
Institutional Investors, public and private sector companies and banks, in Indian and global
markets.
We have also emerged as a trailblazer in the arena of relationships, both at the customer and
trade levels because of our unshakable integrity, seamless service and innovative solutions
that are tuned to meet varied needs. Our team of committed industry specialists, having
extensive experience in capital markets, further nurtures this relationship.

Credentials
Emerging as a leading Investment Banker with a strong support from its Group entities in
Research, Stock Broking, Institutional Sales and Retail Distribution.
Strong team of more than 25 qualified professionals operating from six cities; Hyderabad,
Mumbai, Delhi, Kolkata, Chennai, and Bangalore apart from two overseas offices at New
York (USA) and Dubai.
One of the largest retail distribution networks with over 584 branches in over 389
cities/towns.

Karnataka University Post Graduate, Gadag

Page 18

Karvy Stock Broking Ltd, Gadag

Chaper -4
REVIEW
OF
LITERAT
URE

Karnataka University Post Graduate, Gadag

Page 19

Karvy Stock Broking Ltd, Gadag


Demat Processing in India
INTRODUCTION:
A widely neither distributed nor such distress followed so quickly on the heels 1the equity
brokerage industry in India is one of the oldest in the Asia region. India had an active stock
market for about 150 years that played a significant role in developing risk markets as also
promoting enterprise and supporting the growth of industry. The roots of a stock market in
India began in the 1860s during the American Civil War that led to a sudden surge in the
demand for cotton from India resulting in setting up of a number of joint stock companies
that issued securities to raise finance. This trend was akin to the rapid growth of securities
markets in Europe and the North America in the background of expansion of railroads and
exploration of natural resources and land development.
Historical records show that as early as 1864, there were about 1,000 brokers with the stock
markets functioning from three places in Mumbai; between 9 am to 7 pm at the junction of
Meadows Street and Rampart Row, from day break till 9 am and from 7 pm to early hours of
next morning at Bazargate. Share prices rose sharply even at that time. A share of Colaba
Land Company during the boom period of the 1860s rose from Rs 10,000 at par to Rs
120,000 and that of Backbay Shares went up from Rs 2,000 to Rs 54,000. Bombay, at that
time, was a major financial centre having housed 31 banks, 20 insurance companies and 62
joint stock companies.
Reports on stock markets around that time indicate that an ordinary broker in 1864 earned
about Rs 200 per day, a huge sum in those days. The boom period came to an abrupt end in
1865. In Jul 1865, what was then used to be called the share mania ended with burst of the
stock market bubble? Never had I witnessed in any place a run s of such prosperity thus
wrote Richard Temple, who served as the Governor of Bombay at that time. An interesting
aspect is that despite the collapse of the stock market, most of the brokers met their payment
commitments. In the aftermath of the crash, banks, on whose building steps share brokers
used to gather to seek stock tips and share news, disallowed them to gather there, thus forcing
them to find a place of their own, which later turned into the Dalal Street. A group of about
300 brokers formed the stock exchange in Jul 1875, which led to the formation of a trust in
1887 known as the Native Share and Stock Brokers Association. A unique feature of the
stock market development in India was that that it was entirely driven by local enterprise,

Karnataka University Post Graduate, Gadag

Page 20

Karvy Stock Broking Ltd, Gadag


unlike the banks which during the pre-independence period were owned and run by the
British. Following the establishment of the first stock exchange in Mumbai, other stock
exchanges came into being in major cities in India, namely Ahmedabad (1894), Calcutta
(1908), Madras (1937), Uttar Pradesh and Nagpur (1940) and Hyderabad (1944). The stock
markets gained from surge and boom in several industries such as jute (1870s), tea (1880s
and 1890s), coal (1904 and 1908) etc, at different points of time.

DEMATERIALISATION:Dematerialisation is a process in which you can convert physical share certificates into
electronic shares. Shares should have been transferred in your name / joint names before
sending it for dematerialisation. You have the option to hold shares either in the physical OR
in the dematerialized form. This is as per the Depositories Act, 1996.However, when you buy
shares you may receive delivery in the demat form as per the option of the seller.

REMETRIALISATION:It is the process by which a client can get his electronic holdings converted into physical
certificates. The client has to submit the rematerialisation request to the DP with whom he has
an account. The DP enters the request in its system which blocks the clients holdings to that
extent automatically. The Issuer / R& T agent then prints the certificates, dispatches the same
to the client and simultaneously electronically confirms the acceptance of the request to
NSDL. Thereafter, the clients blocked balances are debited.

PLEDGE
To deposit personal property as security for a personal loan of money. If the loan is not repaid
when due, the personal property pledged shall be forfeit to the lender. A client (pledged)
having a beneficiary account with a Depository Participant can pledge securities in electronic
form against loan / credit facilities extended by a pledge, which too has a beneficiary account
with a Depository Participant.

Karnataka University Post Graduate, Gadag

Page 21

Karvy Stock Broking Ltd, Gadag


STOCK BROKING SERVICES:It is an undisputed fact that the stock market is unpredictable and yet enjoys a high success
rate as a wealth management and wealth accumulation option. The difference between
unpredictability and a safety anchor in the market is provided by in-depth knowledge of
market functioning and changing trends, planning with foresight and choosing ones options
with care. This is what it provides in their Stock Broking services.
Karvy Stock Broking Ltd. offer services that are beyond just a medium for buying and selling
stocks and shares. Instead it provides services which are multi dimensional and multi-focused
in their scope. There are several advantages in utilizing our Stock Broking services, which are
the reasons why it is one of the best in the country.
Karvy offers trading on a vast platform; National Stock Exchange, Bombay Stock Exchange
and Hyderabad Stock Exchange. More importantly, it make trading safe to the maximum
possible extent, by accounting for several risk factors and planning accordingly. It is assisted
in this task by our in-depth research, constant feedback and sound advisory facilities. Their
highly skilled research team, comprising of technical analysts as well as fundamental
specialists, secure result-oriented information on market trends, market analysis and market
predictions.

DEPOSITORY PARTICIPANT SERVICES:-

The onset of the technology revolution in financial services Industry saw the emergence of
KARVY as an electronic custodian registered with National Securities Depository Ltd
(NSDL) and Central Securities Depository Ltd (CSDL) in 1998. KARVY set standards
enabling further comfort to the investor by promoting paperless trading across the country
and emerged as the top 3 Depository Participants in the country in terms of customer
serviced. Offering a wide trading platform with a dual membership at both NSDL and CDSL,
it is a powerful medium for trading and settlement of dematerialized shares. Karvy has
established live DPMs, Internet access to accounts and an easier transaction process in order
to offer more convenience to individual and corporate investors. A team of professional and
the latest technological expertise allocated exclusively to their Demat division including
technological enhancements like SPEED-e; make their response time quick and their delivery
impeccable. A wide national network makes their efficiencies accessible to all.

Karnataka University Post Graduate, Gadag

Page 22

Karvy Stock Broking Ltd, Gadag


FINANCIAL PRODUCTS DISTRIBUTION SERVICES:-

The paradigm shift from pure selling to knowledge based selling drives the business today.
With our wide portfolio offerings, Karvy occupy all segments in the retail financial services
industry. A team of highly qualified and dedicated professionals drawn from the best of
academic and professional backgrounds are committed to maintaining high levels of client
service delivery. This has propelled them to a position among the top distributors for equity
and debt issues with an estimated market share of 15% in terms of applications mobilized,
besides being established as the leading procurer in all public issues.

ADVISORY SERVICES:-

Under their retail brand KARVY the Finapolis, it delivers advisory services to a crosssection of customers. The service is backed by a team of dedicated and expert professionals
with varied experience and background in handling investment portfolios. They are
continually engaged in designing the right investment portfolio for each customer according
to individual needs and budget considerations with a comprehensive support system that
focuses on trading customers portfolios and providing valuable inputs, monitoring and
managing the portfolio through varied technological initiatives. This is made possible by the
expertise it has gained in the business over the years. Another venture towards being investorfriendly is the circulation of a monthly magazine called KARVY the Finapolis
coveringthlatest of market news, trends, investment schemes and research-based opinions
from experts in various financial fields.

DEPOSITORY SYSTEM:A Depository is a facility for holding securities, which enables securities transactions to be
processed by book entry. To achieve this purpose, the depository may immobilize the
securities or dematerialise them (so that they exist only as electronic records). India has
chosen the dematerialisation route. In India, a depository is an organisation, which holds the
beneficial owners securities in electronic form, through a registered Depository Participant
(DP). A depository functions somewhat similar to a commercial bank. To avail of the services
offered by a depository, the investor has to open an account with a registered DP
Dematerialisation is a process by which physical certificates are converted into electronic
form. Dematerialisation of securities occurs when securities issued in physical form are
destroyed and an equivalent number of securities are credited into the beneficiary owners
Karnataka University Post Graduate, Gadag

Page 23

Karvy Stock Broking Ltd, Gadag


account. India has adopted dematerialisation route to depository. In a depository system, the
investors stand to gain by way of efficient settlements, lower costs and lower risks of theft or
forgery, etc. But the implementation of the system has to be secure and well governed. All the
players have to be conversant with the rules and regulations as well as with the technology
for processing. The intermediaries in this system have to play strictly by the rules. In the
depository system, securities are held in depository accounts, which is more or less similar to
holding funds in bank accounts. Transfer of ownership of securities is done through simple
account transfers. This method does away with all the risks and hassles normally associated
with paperwork. Consequently, the cost of transacting in a depository environment is
considerably lower as compared to transacting in certificates.

DEPOSITORY PARTICIPANT:The depositories can provide their services to investors through their agents called depository
participants. These agents are appointed subject to the conditions prescribed under Securities
and Exchange Board of India (Depositories and Participants) Regulations, 1996 and other
applicable conditions. It may be organisations involved in the business of providing financial
services like banks, brokers, custodians, financial institutions, etc.

1. NATIONAL SECURITIES DEPOSITORY LIMITED (NSDL)


The enactment of Depositories Act in August 1996 paved the way for establishment of
NSDL, the first depository in India. This depository promoted by institutions of national
stature responsible for economic development of the country has since established a national
infrastructure of international standards that handles most of the securities held and settled in
dematerialised form in the Indian capital market.
Using innovative and flexible technology systems, NSDL works to support the investors and
brokers in the capital market of the country. NSDL aims at ensuring the safety and soundness
of Indian marketplaces by developing settlement solutions that increase efficiency, minimise
risk and reduce costs. At NSDL, we play a quiet but central role in developing products and
services that will continue to nurture the growing needs of the financial services industry.

Karnataka University Post Graduate, Gadag

Page 24

Karvy Stock Broking Ltd, Gadag


2. CENTRAL DEPOSITORY SECURITIES (INDIA) LIMITED (CDSL)
Each and every activity of CDSL stem from the essential reason behind forming this
depository, i.e. to encourage Indias individual investors to benefit from actively participating
in a depository. A Depository facilitates holding of securities in the electronic form and
enables securities transactions to be processed by book entry by a Depository Participant
(DP), who as an agent of the depository, offers depository services to investors. According to
SEBI guidelines, financial institutions, banks, custodians, stockbrokers, etc. are eligible to act
as DPs. The investor who is known as beneficial owner (BO) has to open a demat account
through any DP for dematerialisation of his holdings and transferring securities. The balances
in the investors account recorded and maintained with CDSL can be obtained through the DP.
The DP is required to provide the investor, at regular intervals, a statement of account which
gives the details of the securities holdings and transactions. The depository system has
effectively eliminated paper-based certificates which were prone to be fake, forged,
counterfeit resulting in bad deliveries. CDSL offers an efficient and instantaneous transfer of
securities. CDSL was promoted by Bombay Stock Exchange Limited (BSE) jointly with
leading banks such as State Bank of India, Bank of India, Bank of Baroda, HDFC Bank,
Standard Chartered Bank, Union Bank of India and Centurion Bank.
SERVICES OF DEPOSITORY :A depository established under the Depositories Act can provide any service connected with
recording of allotment of securities or transfer of ownership of securities in the record of a
depository. Any person willing to avail the services of the depository can do so by entering
into an agreement with the depository through any of its participants. A depository can
provide depository services only through a DP. A depository cannot directly open accounts
and provide services to clients. Every depository in its Bye-Laws must state which securities
are eligible for Demat holding. Generally, the following securities are eligible for
Dematerialisation:

Shares, scrips, stocks, bonds, debentures, debenture stock or other marketable


securities of a like nature in or of any incorporated company or other body corporate.

Units of Mutual Funds, rights under collective investment schemes and venture
capital funds, Commercial paper, Certificates of Deposit, Securitised debt, money
market

instruments,

government

securities,

National

Saving

Certificates,

KisanVikasPatra and unlisted securities.

Karnataka University Post Graduate, Gadag

Page 25

Karvy Stock Broking Ltd, Gadag


DEPOSITORY SERVICE CHARGES FOR RESIDENTS RETAIL
CUSTOMERS AND CORPORATE:
1.

A/c opening. Rs. 100 Rs.100

2.

Annual service charge. Rs.300 RS.1250

3.

Custody Fee( an A/c with ISINs will Rs.2.25 per ISINs be assume to have one ISIN) per

quarter per quarter


4.

Agreement stamp paper As per respective As per state Act respective state Act

5. Buy- Market and Off-market (%of 0.02 %( Min. Rs. Nil transaction value of each ISIN)20) maximum rs. 500/- for debt instrument. Sell market and off market (%of
..0. ...0.0 transaction value of each IsIN)-Max 04%( Min
Rs.10 ) 2% (Min Rs. 5 ) Rs. 500 for debt instrument for each instruction for each instruction
6. Rejection / fails. Rs. 20 Rs 10
7. Extra charges for processing of Rs.10per IsIN / R. 10 per ISIN TIFDs Submitted late (%of
transaction value ) * On the execution date (accepted at clients risk )
8. For each request form. Rs. 35
9. Extra for each certificate. Rs. 2
10. Dematerialization. Rs.20
11. Closure of account. Nil
12. Pledge creation / closure/ o.o2 % ( Min 0.02% (Min Rs. confirmation/ invocation (%Of
value Rs.20) 20) for each ISIN in each request).
13. Addition account statement. Rs.20

Karnataka University Post Graduate, Gadag

Page 26

Karvy Stock Broking Ltd, Gadag


NSDL CHARGES ARE CHARGEABLE EXTRA AT ACTUAL .PRESENT NSDL
CHARGES ARE: Sell-Market and Of - Market Rs. 8/-per debit instruction nil for
commercial paper and short term debt instruments. RematRs. 10/-per certificate Pledge
Creation Rs.25/-per instruction Custody Fee( on the basis of ISINs Rs. The value of1/-per
ISINs in the account on the last Saturday of each month) There will beshares and charges
and calculated as per NSDL formula and rates. Charge of Rs.100/-for dishonor of any
cheque . The depository services are liable to discontinuation if Karvy is unable to recover
charges from the customer, for any reason whatsoever. There will be a charge of Rs. 100/Any service, which is not mentionedresumption of services in such cases. above, will be
charge separately as per the rates applicable from time to time. Karvy reserves the right to
revise the tariff structure from time to time with a notice of 30 days. The notice may be
given by ordinary post or by an advertisement in a national daily.

FUNCTIONS OF DEPOSITORY:1. Dematerialisation:- One of the primary functions of depository is to eliminate or


minimise the movement of physical securities in the market. This is achieved through
Dematerialisation of securities. Dematerialisation is the process of converting
securities held in physical form into holdings in book entry form.
2. Account Transfer: The depository gives effects to all transfers resulting from the
settlement of trades and other transactions between various beneficial owners by
recording entries in the accounts of such beneficial owners.
3. Transfer and Registration: A transfer is the legal change of ownership of a security
in the records of the issuer. For effecting a transfer, certain legal steps have to be taken
like endorsement, execution of a transfer instrument and payment of stamp duty. The
depository accelerates the transfer process by registering the ownership of shares in
the name of the depository. Under a depository system, transfer of security occurs
merely by passing book entries in the records of the depositories, on the instructions
of the beneficial owners.
4. Corporate Actions: A depository may handle corporate actions in two ways. In the
first case, it merely provides information to the issuer about the persons entitled to
receive corporate benefits. In the other case, depository itself takes the responsibility
of distribution of corporate benefits.

Karnataka University Post Graduate, Gadag

Page 27

Karvy Stock Broking Ltd, Gadag


5. Pledge and Hypothecation: The securities held with NSDL may be used as collateral
to secure loans and other credits by the clients. In a manual environment, borrowers
are required to deliver pledged securities in physical form to the lender or its
custodian. These securities are verified for authenticity and often need to be
transferred in the name of lender. This has a time and money cost by way of transfer
fees or stamp duty. If the borrower wants to substitute the pledged securities, these
steps have to be repeated. Use of depository services for pledging/ hypothecating the
securities makes the process very simple and cost effective. The securities
pledged/hypothecated are transferred to a segregated or collateral account through
book entries in the records of the depository
6. Linkages with Clearing System: Whether it is a separate clearing corporation
attached to a stock exchange or a clearing house (department) of a stock exchange, the
clearing system performs the functions of ascertaining the pay-in (sell) or pay-out
(buy) of brokers who have traded on the stock exchange. Actual delivery of securities
to the clearing system from the selling brokers and delivery of securities from the
clearing system to the buying broker is done by the depository. To achieve this,
depositories and the clearing system should be electronically linked.

BENEFITS:The direct and indirect benefits of the depository system are described in detail below. In the
depository system, the ownership and transfer of securities takes place by means of electronic
book entries. At the outset, this system rids the capital market of the dangers related to
handling of paper.

Elimination of bad deliveries:- In the depository environment, once the holdings of


an investor are dematerialised, the question of bad delivery does not arise, i.e., their
transfer cannot be rejected due to defect in the quality of the security. All possible
reasons for objecting transfer of title due to deficiencies associated with transfer
deed and share certificates are completely eliminated since both transfer deed and
share certificates are eliminated in depository system.

Elimination of all risks associated with physical certificates:-Dealing in physical


securities has associated security risks of theft of stocks, mutilation or loss of
certificates during movements to and from the registrars. These expose the investor

Karnataka University Post Graduate, Gadag

Page 28

Karvy Stock Broking Ltd, Gadag


to the cost of obtaining duplicate certificates, advertisements, etc. Such problems do
not arise in the depository environment.

No stamp duty:-There is no stamp duty for transfer of equity instruments and units
of mutual funds in the depository system. In the case of physical shares, stamp duty
of 0.5% is payable on transfer of shares.

Immediate transfer and registration of securities:-In the depository environment,


once the securities are credited to the investors account on pay out, he becomes the
legal owner of the securities. There is no further need to send it to the companys
registrar for transfer of ownership or registration which is necessary in the case of
physical securities. This process normally takes longer than the statutory prescribed
period of two months thus exposing the investor to opportunity cost of delay in
transfer and to risk of loss in transit. To overcome this, the normally accepted
practice is to hold the securities in street names, i.e., not to register the change of
ownership. However, if the investors miss a book closure, thesecurities are not good
for delivery and the investor would also stand to loose his corporate entitlements.

Faster settlement cycle:- With the introduction of electronic form of settlement,


Indian Capital markets have moved from 15 day long settlement cycle to T+2
settlement cycle where the settlement takes place on 2nd day from the day of
trading. This enables faster turnover of stock and enhances liquidity with the
investor.

Buyer is secured:- In the physical environment, seller was secured since the sale
proceeds were always fully realisable but the buyer was not, since it was not certain
whether shares purchased will get transferred or not. The market principle that buyer
is king did not apply to the capital market. This situation has now been corrected.

Faster disbursement of non-cash corporate benefits:-NSDL provides for direct


credit of non-cash corporate entitlements like rights, bonus, etc., to an investors
account, thereby ensuring faster disbursement and avoiding the risk of certificates
getting lost in transit.

Reduction in rate of interest on loans:- Some banks provide this benefit against
pledge of Dematerialised securities. Dematerialised securities eliminate hassles/risks
like getting securities registered in their name at the time of book closure if the
pledgee defaults in repayment. Also eliminated is the risk of stocks coming under

Karnataka University Post Graduate, Gadag

Page 29

Karvy Stock Broking Ltd, Gadag


objections when they are sent to the companys registrar for registration, if the
pledge has to be invoked.

Increase in maximum limit of advances:-This has increased from Rs. 10 lakh to


Rs. 20 lakh per borrower. There is also a reduction in minimum margin from 50% to
25% by banks for advances against.Dematerialised securities as per the Monetary
and Credit Policy of Reserve Bank of India for the first half of 1998-99.

Reduction in brokerage:-Since introduction of electronic settlement of securities


there has been a significant fall in the brokerage charged for brokers for effecting
and settling trades of investors at the stock exchanges. This benefit is given to
investors as dealing in Dematerialised securities reduces their back office cost of
handling paper. It also eliminates the risk of being the introducing broker.

Reduction in handling of huge volumes of paper:-In the physical environment,


every entity involved in purchase or sale of securities was to handle papers and pass
on papers to the next entity. Number of papers to handle increased with the volume
of transactions. However, in the depository environment, except the delivery
instruction to be given by the client/broker, there is no other paper movement. NSDL
has permitted use of floppies to give debit instructions for large volumes of
transactions. NSDL has recently introduced a common internet based platform,
SPEED-e, for Clients of all DPs so that Clients can issue instructions to their DPs
through Internet. Using SPEED-e the client need not write delivery instructions or
visit its DP for issuing instructions. Clients can monitor the status of instructions
given by them on SPEED-e on Internet.

Periodic status reports:-DPs need to provide periodic reports to investors on their


holdings and transactions. This leads to better management control on the part of the
servicing agency and better information for the investors.

Elimination of problems related to nomination:-An account holder can get


securities in all companies transmitted/transferred to his account by completing
formalities with a single entity i.e. DP. He need not deal with all companies
individually.

Dematerialised securities can be delivered in the physical segment:-Securities


forming a part of the SEBI specified compulsory list (wherein delivery in demat
form is mandatory for all categories of investors) can be delivered in physical form

Karnataka University Post Graduate, Gadag

Page 30

Karvy Stock Broking Ltd, Gadag


in the stock exchanges connected to NSDL & CDSL. This requirement is applicable
to physical deliveries wherein the number of securities is less than 500.

Elimination of problems related to change of address of investors, transmission,


etc.:- In case of change of address or transmission of Demat shares, investors are
saved from undergoing the entire change procedure with each company or registrar.
Investors have to only inform their DP about the change along with all relevant
documents. The required changes are effected in the database of all the companies
where the investor is a registered holder of securities. The investor will receive all
cash corporate benefit like dividends, interest warrants, redemption money, etc. at
the new address with immediate effect.

Elimination of problems related to selling securities on behalf of a minor:-NSDL


system provides facility for opening demat accounts in the name of minor and
holding their securities in their own name. Since, under the Contract Act, 1872, the
minor is not eligible to enter into contracts at their own, the account in the name of
minor is required to be operated by their guardian. The guardian may be the natural
guardian, guardian appointed by will or the guardian appointed by an order of the
court. The minors guardian will be eligible to open, operate and close the account
on behalf of the minor. The guardian(s) would be signing the instruction slips to be
given to the depository participant, on behalf of the minor. A minor however cannot
be a joint account holder. Non cash corporate benefits arising out of bonus/rights
allotment of shares are credited to the account of the minor. Cash corporate benefits
will be issued by the concerned issuer of securities in the name of the minor.

Convenient consolidation of accounts:-If multiple accounts were opened by


investors, all accounts can be consolidated into one account by giving instructions to
DP. In case of physical certificates, consolidation of folios required correspondence
with all the companies individually.

Convenient portfolio monitoring:- Client can monitor portfolio by checking a


single statement of holding/transaction.

Newer services:- Opportunities like pledge/hypothecation and stock lending are


given specifically by the depository system.

Increased volumes:- Due to ease in transaction and reduced costs, many players
have entered/ increased their transactions. This helps in improving liquidity.

Karnataka University Post Graduate, Gadag

Page 31

Karvy Stock Broking Ltd, Gadag


Karvy provide facility to online demat services Karvys electronic
Custodial Services are:
Convert your physical holding into electronic holding (which is called "dematerialisation"
of securities)
Keep custody of your holdings in electronic form.
Transfer the shares in the electronic form from one account to another.
Facilitate pledge of your electronic securities
. Give electronic credit of new share allotments such as public issues, bonus, rights etc.
Convert your electronic holding into physical holding (which is called "rematerialisatoin of
securities. Buying and selling of shares by karvysDemat account: After you open an account
with karvy, you can buy and sell shares in electronic form .in order to sell shares in the demat
mode you need to provides your depository with the number of shares sold by you. When you
share in the depository mode, you must, similarly provide the depository with the details so
that shares purchased will be credited to your account. It is advisable to give a standing
instruction at the time of account opening to automatically receive the credit to your demat
account. The debit or credit to your account is affected immediately after the se Benefit by
selling demats shares:- Brokers have no fear of bad delivery while selling demat shares. Due
to this, they offer lower brokerage to you.As bad deliveries are eliminated shares is not
returned due to objections, resulting in saving of costs and follow up.
Nowadays, practically all trades have to be settled in dematerialised form. Although the
market regulator, the Securities and Exchange Board of India (SEBI), has allowed trades of
upto 500 shares to be settled in physical form, nobody wants physical shares any more. So a
demat account is a must for trading and investing. The demat account reduces brokerage
charges, makes pledging / hypothecation of shares easier, enables quick ownership of
securities on settlement resulting in increased liquidity, avoids confusion in the ownership
title of securities, and provides easy receipt of public issue allotments.
It also helps you avoid bad deliveries caused by signature mismatch, postal delays and loss of
certificates in transit. Further, it eliminates risks associated with forgery, counterfeiting and

Karnataka University Post Graduate, Gadag

Page 32

Karvy Stock Broking Ltd, Gadag


loss due to fire, theft or mutilation. Demat account holders can also avoid stamp duty (as
against 0.5 per cent payable on physical shares), avoid filling up of transfer deeds, and obtain
quick receipt of such benefits as stock splits and bonuses.
First, an investor who wants to open a Demat Account to dematerialise their holdings has to
approach a Karvy and fill up an account opening form. The account opening form must be
supported by copies of any one of the approved documents to serve as proof of identity (POI)
and proof of address (POA) as specified by SEBI. Besides, production of PAN card in
original at the time of opening of account has been made mandatory.
All applicants should carry original documents for verification. Further, the investor has to
sign an agreement with Karvy in a depository prescribed standard format, which details rights
and duties of investor and DP (Karvy). Karvy provides the investor with a copy of the
agreement and schedule of charges for their future reference. After verification of the entire
certificate, Karvy opens the account in the system and gives an account number, which is also
called BOID (Beneficiary Owner Identification number). SEBI has rationalised the cost
structure for processing of Demat account account opening charges, transaction charges for
credit of securities, and custody charges. The Karvy may revise the charges by giving 30 days
notice in advance.

DEMAT PROCESSING IN KARVY STOCK BROKING LTD:KarvyStcok Broking Ltd. is one of the leading Depository Participant (DP) in the country.
KarvyDemat services offers the investors a secure and convenient way to keep track of their
securities and investments, over a period of time, without the hassle of handling physical
documents that get mutilated or lost in transit. KarvyStcok Broking Ltd. is Depository
particpant both with -National Securities Depositories Limited (NSDL) and Central
Depository Services Limited (CDSL). KarvyDemat services are accessable any of its network
over 575 branches / investor service centre located in over 375 cities and towns across the
country. KarvyDemat services business has a distinction of having all its operations ISO
9001:2000 certified with the state of the art-technology and operations capabilites. Its Demat
services have innovated over time and it provides online access to the account statements and
transaction alerts through SMS to its clients.

Karnataka University Post Graduate, Gadag

Page 33

Karvy Stock Broking Ltd, Gadag


DEMAT ACCOUNT:Demat refers to a dematerialised account. Just as open an account with a bank if public want
to save thier money, make cheque payments etc, the investor need to open a demat account if
he want to buy or sell stocks. So it is just like a bank account where actual money is replaced
by shares. The investors have to approach the DPs (remember, they are like bank branches),
to open their demat account. Lets say the investor Mr. Xs portfolio has 100 of Satyam, 200
of Reliance and 120 of TCS shares. All these will show in his demat account. So, his doent
has to possess any physical certificates showing that he own these shares. They are all held
electronically in his account. As he buy and sell the shares, they are adjusted in his account.
Just like a bank passbook or statement, the DP will provide the investor with periodic
statements of holdings and transactions.

NEED OF DEMAT ACCOUNT:Nowadays, practically all trades have to be settled in dematerialised form. Although the
market regulator, the Securities and Exchange Board of India (SEBI), has allowed trades of
upto 500 shares to be settled in physical form, nobody wants physical shares any more. So a
demat account is a must for trading and investing. The demat account reduces brokerage
charges, makes pledging / hypothecation of shares easier, enables quick ownership of
securities on settlement resulting in increased liquidity, avoids confusion in the ownership
title of securities, and provides easy receipt of public issue allotments.
It also helps you avoid bad deliveries caused by signature mismatch, postal delays and loss of
certificates in transit. Further, it eliminates risks associated with forgery, counterfeiting and
loss due to fire, theft or mutilation. Demat account holders can also avoid stamp duty (as
against 0.5 per cent payable on physical shares), avoid filling up of transfer deeds, and obtain
quick receipt of such benefits as stock splits and bonuses.
STEPS INVOLVED IN OPENING A DEMAT ACCOUNT:First, an investor who wants to open a Demat Account to dematerialise their holdings has to
approach a Karvy and fill up an account opening form. The account opening form must be
supported by copies of any one of the approved documents to serve as proof of identity (POI)
and proof of address (POA) as specified by SEBI. Besides, production of PAN card in
original at the time of opening of account has been made mandatory.

Karnataka University Post Graduate, Gadag

Page 34

Karvy Stock Broking Ltd, Gadag


All applicants should carry original documents for verification. Further, the investor has to
sign an agreement with Karvy in a depository prescribed standard format, which details rights
and duties of investor and DP (Karvy). Karvy provides the investor with a copy of the
agreement and schedule of charges for their future reference. After verification of the entire
certificate, Karvy opens the account in the system and gives an account number, which is also
called BOID (Beneficiary Owner Identification number). SEBI has rationalised the cost
structure for processing of Demat account account opening charges, transaction charges for
credit of securities, and custody charges. The Karvy may revise the charges by giving 30 days
notice in advance.
No charges shall be levied by Karvy for transfer of the securities lying in his account to
another branch or to another DP of the same depository or another depository.
In case the BO Account at transferor DP is a joint account, the BO Account at transferee DP
should also be a joint account in the same sequence of ownership.

PROCEDURE:1. Filling account opening form (available with Karvy).


2. Submitting the duly filled account opening form with introduction documents as may
be required.
3. Signing in the agreement with Karvy (agreement will state rights & obligations of
both parties). The agreement will contain the fee structure of Karvy. Karvy would
give the client a copy of this signed agreement for his record.
4. Karvy would give him Client Id no. (Account No.) once his depository account is
opened. This Client Id Number along with Karvy Id Number forms a unique
combination. Both of these should be quoted in the future correspondence with
Karvy/NSDL/ Issuing Company/their registrar & transfer (R&T) agent.
5. Karvy would give to his clients pre-printed instruction slips for depository services
viz., dematerialisation, delivery instruction for trades, etc.. It should be preserved
carefully.
6. Karvy would give a list of deadlines for giving instructions for various depository
activities viz., transfer for effecting sale, purchase, etc.

Karnataka University Post Graduate, Gadag

Page 35

Karvy Stock Broking Ltd, Gadag


TYPES OF ACCOUNTS:Type of depository account depends on the operations to be performed. There are three types
of Demat accounts which can be opened with Karvy.

Beneficiary Account

Clearing Member Account and

Intermediary Account.

1. Beneficiary Account:- A Beneficiary Account is an ownership account. The holder/s


of securities in this type of account own those securities.
2. Clearing Member Account:- The Clearing Member Account and Intermediary
Account are transitory accounts. The securities in these accounts are held for a
commercial purpose only. A Clearing Member Account is opened by a broker or a
Clearing Member for the purpose of settlement of trades.
3. Intermediary Account:- An Intermediary Account can opened by a SEBI registered
intermediary for the purpose of stock lending and borrowing.
TRADING OF SHARES:Karvy provides the following options to his clients regarding trading of the dematerialized
shares.
Cash Trading:1. This is delivery based trading system which is generally done with the
intention of taking delivery of shares or money. In Cash trading, the clients
can buy or sell only when he satisfies some conditions.
2. If the client places an order to buy 100 shares of Reliance Industries, he has to
have 100% of the order value in his available li

DOCUMENTS REQUIRED FOR VERIFICATION:For the purpose of verification, the investors have to submit the following documents, as
prescribed by SEBI, along with the stipulated account opening form. A beneficiary account
must be opened only after obtaining a proof of identity and address of the applicant. An
authorised official of the Karvy would verify the photocopies of any of following documents

Karnataka University Post Graduate, Gadag

Page 36

Karvy Stock Broking Ltd, Gadag


submitted with their corresponding originals and put his/her signature on them with remarks
verified with original before proceeding to open the account.
DOCUMENT REQUIRED
S.NO.

PROOF OF IDENTITY

PROOF OF ADDRESS

( ANY ONE)

( ANY ONE)

1.

PASSPORT

Ration card

2.

VOTER ID CARD

Passport

3.

Driving license

VOTER ID CARD

4.

PAN card with photograph

Driving license

5.

Credit cards/Debit cards issued by Banks.

Bank passbook

6.

Identity card/Document with

Identity card/document with address,

applicants

Photo

Central/State

ISSUED

Government

and

BY:its

issued by:- Central/State Government and


its Departments,

Departments,

Statutory/Regulatory Authorities,

Statutory/Regulatory Authorities,

Public Sector Undertakings,

Public Sector Undertakings,

Scheduled Commercial Banks,

Scheduled Commercial Banks,

Public Financial Institutions,

Public Financial Institutions,

Colleges affiliated to Universities (this can be treated as valid only till the time the
applicant is a student),

Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members;
and

Self-declaration by High Court & Supreme Court judges, giving the new address in
respect of their own accounts.

The aforesaid documents are the minimum requirement for opening a Beneficial
Owner Account. After verifying the all the documents submitted by the applicant,

Karnataka University Post Graduate, Gadag

Page 37

Karvy Stock Broking Ltd, Gadag


Karvy would open account in the name of applicant. While they only ask for
photocopies of the documents, they will need the originals for verification. The
applicant should have to submit a passport size photograph on which he sign across.

FEE STRUCTURE OF KARVY


NOW to the crux the cost of opening and holding a Demat account. There are four major
charges usually levied on a Demat account. i.e. Account opening fee, annual maintenance
fee, custodian fee and transaction fee. All the charges vary from DP to DP. Karvy charges the
following fees for Demat Account and Trading Account from their clients for the services
rendered by the Karvy.

Sl.No.
Requirements
Demat A/c
Trading A/c
Explanation
1 Agreement Cost

65.00

Stamp Paper Cost.

2 AMC

100.00

422.00

Broking Clients Only

3 Refundable Deposit

5000.00

Non-Interest Bearing

Total Payable

487.00

5100.00

1. Account-Opening Fee:- It is levied when the applicant opens the Demat account with
Depository Participant. Karvy does not charge account opening fee from their clients.

Karnataka University Post Graduate, Gadag

Page 38

Karvy Stock Broking Ltd, Gadag


2. Annual maintenance fee:-This is also known as folio maintenance charges, and is
generally levied in advance.
3. Custodian fee:-This fee is charged monthly and depends on the number of securities
(international securities identification numbers ISIN) held in the account. It
generally ranges between Rs.0.5 to Rs.1 per ISIN per month. Karvy will not charge
custody fee for ISIN on which the companies have paid one-time custody charges to
the depository.
4. Transaction fee:-The transaction fee is charged for crediting/debiting securities to
and from the account on a monthly basis. Karvy is charging upto Rs.50/- per debit
transaction of the account. In addition, service tax is also charged by the Karvy.
PLEDGING:Dematerialised shares could be pledged. In fact, this is more advantageous as compared to
pledging share certificate. The following procedures are adopted while pledging the
dematerialized shares.
Both (Pledgor) as well as the lender (Pledgee) must have Demat Account.
One must initiate the pledge by submitting the details of the securities to be pledged in a
standard format which is available in Karvy.
The pledge should confirm the request through Karvy.
Once this is done, securities are pledged.
All the commercial documentation between the pledgor and pledge are handled outside the
depository system.
After receiving the repayment, the pledgee would instruct the Karvy for requesting closure of
pledge through standard format.

Karnataka University Post Graduate, Gadag

Page 39

Karvy Stock Broking Ltd, Gadag

Chapter
5
RESEAR
CH
METHO
DOLOGY

RESEARCH METHODOLOGY;-

Karnataka University Post Graduate, Gadag

Page 40

Karvy Stock Broking Ltd, Gadag


The main objective of a research is to find out the truth which is hidden and which has not
been discovered. According to advance learners dictionary of current English the definition
of research is:- A careful investigation or enquiry especially through search for new facts in
any branch of knowledge

Marketing research:-

Marketing managers often commission formal marketing studies of specific problems and
opportunities. They may request a market survey, a product preference test, or an advertising
evaluation. Marketing research is the function which links the consumers, customers and
public to the marketer though information- used to identified and define marketing
opportunities and problems, generate ad evaluate marketing actions :- monitor marketing
performance and improve understanding of marketing as a process. Effective marketing
research includes five steps, which should be kept in mind to conduct a marketing research in
a perfect manner.
a. Define the problem and research objective.
b. Develop the research plan.
c. Collect the information.
d. Present the findings.
Title of the Study
CUSTOMER SATISFACTION REGARDING DEMAT SERVICES OF KARVY
STOCK BROKING LTD GADAG.
Objectives of the study:
1. To study and analyse the process of Dematerialisation and Investors

opinion towards

Demat Processing.
2. To know and explain procedure for opening of Demat account and process of
dematerialization of securities to eliminate the problem related with physical holdings of
securities.

Karnataka University Post Graduate, Gadag

Page 41

Karvy Stock Broking Ltd, Gadag


3. To explain the advantages of Dematerialisation of securities, convince and make them to
dematerialize their securities.
4. To know the problem faced by the investor and reason for physical holdings of securities
without dematerialization of securities.
5. To give awareness among the investors about Demat and to make them to open Demat
Account.
Types of research
The customer research was carried out in two phases:
a. An exploratory research was carried out to know what customer looks for in financial
company and whether customers are satisfied or not with there products
b. The other was a diagnostic study to identify the factors responsible for satisfactions or
dissatisfaction of customer.

SOURCES OF DATA :Research is totally based on primary data. Secondary data can be used only for the reference.
Research has been done by primary data collection, and primary data has been collected by
interacting with various people. The secondary data has been collected through various journals
and websites and some special publications of KARVY.
For completing the project primary and secondary data used. By way of collecting secondary
I used books, journals, news paper and magazine. The main aims of this study are as follows.
The data needed data this study has been collected from two main sources :1. Primary sources.
2. Secondary sources.
Primary data has been collected through wall structured Tele marketing, campaigning, direct
interview method.

Karnataka University Post Graduate, Gadag

Page 42

Karvy Stock Broking Ltd, Gadag


Secondary data has helped in collecting information regarding history of the company,
division of the company etc. of market position of other financial companies

TOOLS USED
Whatever we design of research study it is necessary to collect relevant data. theus it is
useful to consider methods of collecting data and the quality of information produced,
a. Questionnaires:- It is the basic methods of collecting data in marketing research .
Questionnaires are the basis method of collecting data in marketing research. Questionnaires
are distinguished by the facts that asking question to people who have the desired information
collects data. When questioning researches collects data ask questions. They keep track of the
objects or actions in which they are interested. Sometimes individual makes the observation
on the other occasions mechanical devices note and record the desired information. In this
study the data was collected by means of questioning since the method of observation is also
used for checking the awareness regarding the financial products. The questionnaires were
filled by using tested personal interviews.
b. Contact methods:- To get information contacts is necessary it can be either by telephone
or by personal contacts. I prefer personal interview method to get the necessary information
from the people. The data was collected through personal interview by asking the questions.
c. Telemarketing:- To get information I also use this method by calling them through
telephone in their homes, offices, institutions etc. and made them aware from the demate and
the financial product.

Objective of research
The main objective of this project is concerned with getting the opinion of people
regarding demat services and what they feel about availing the services of financial
advisors.
I have tried to explore the general opinion about dematservices . It also covers why/
why not investors are availing the services of financial advisors.
.To know the opinion of the consumer regarding the financial product.
To know what consumer look for while denmating their shares.

Karnataka University Post Graduate, Gadag

Page 43

Karvy Stock Broking Ltd, Gadag

To know the satisfaction/dissatisfaction level of consumers towards the financial


companies.

To know the factors responsible for the satisfaction/dissatisfaction of the consumers


To know the potential market of the karvy.

Sample Size and method of selecting sample


Sample size
The sample size of my project is limited to 50 only.
Sample design
Data has been presented with the help of diagrammatic and pie chart etc.
Sampling procedure
The sample is selected in a random way, irrespective of them being investor or not or
availing the services or not. It was collected through mails and personal visits to the
known persons, by formal and informal talks and through filling up the questionnaire
prepared. The data has been analyzed by using the measures of central tendencies like
mean, median, mode. The group has been selected and the analysis has been done on the
basis statistical tools available.

Scope of the study


The present study seeks to analyse current operations of karvy stock broking company
regarding the demat processing services. Moreover karvy and its operation market is a vast
area with changing day to day regulation. So studying about karvy services its implications,
to the length and breath and finding the pors and cons accurately from the point of view of
investors protection is a difficult task in view of the time and energy left before the candidate.
The research was carried on in the Eastern Region of India. It is restricted to Kolkata where it
has got 11 branch offices and 3 franchisees. I have visited people randomly nearby my
locality, different shopping malls, small retailers etc.
KarvyDemat services offers the investors a secure and convenient way to keep track of their
securities and investments, over a period of time, without the hassle of handling physical
documents that get mutilated or lost in transit. KarvyStcok Broking Ltd. is Depository

Karnataka University Post Graduate, Gadag

Page 44

Karvy Stock Broking Ltd, Gadag


particpant both with -National Securities Depositories Limited (NSDL) and Central
Depository Services Limited (CDSL). KarvyDemat services are accessable any of its network
over 575 branches / investor service centre located in over 375 cities and towns across the
country.
There are three types of Demat accounts which can be opened with Karvy.

Beneficiary Account

Clearing Member Account and

Intermediary Account.

LIMITATION OF THE STUDY


LIMITATION
Not financially support given by thetime I was not able cover all area.
awareness and interest on the part of respondents company.

Due to lack of

created problem in the

collection.
Time limitation.
Research has been done only at Rajasthan
Some of the persons were not so responsive.
Possibility of error in data collection.
Possibility of error in analysis of data due to small sample size.

Karnataka University Post Graduate, Gadag

Page 45

Karvy Stock Broking Ltd, Gadag

Chapter -6
ANALYSIS
AND
INTERPRET
ATION

Karnataka University Post Graduate, Gadag

Page 46

Karvy Stock Broking Ltd, Gadag

ANALYSIS AND INTERPRETATION

Q. 1

Do you know about the Demataccount ?


YES

40%

NO

60%

Sales

Yes
No

According to this pie-chart we can say that 40% people know about the demat account and
60% people do not know about the demataccount . But they want know about the demat
account of KARVY stock broking limited.

Karnataka University Post Graduate, Gadag

Page 47

Karvy Stock Broking Ltd, Gadag


Q.2How much you are in favour of demat account opening charge for share trading
purpose ?
Good 25%
Poor

60%

Average 15%
Excellent 0%

Sales

Good
Average
poor
Excellent

Q.3Responder came to know the about Karvy financial consultant ?


Friends

47%

Newspaper 18%

Agent
Others

14%

Online

10%

11%

Sales

11%
Agent; 14%
Friends; 47%
Online; 10%
Newspaper; 18%

Karnataka University Post Graduate, Gadag

Page 48

Karvy Stock Broking Ltd, Gadag


Q.4 What is your opinion relating to the rate of interest of margin funding facility of
Karvy?
Good

45%

Average
Poor

44%

4%

Excellent 7%

Sales

4th Qtr; 7%
Poor; 4%
Good; 45%
Average; 44%

Q.5 what is your opinion regarding the stock broking services provided by Karvy ?
Good

45%

Average

35%

Poor

14%

Excellent 6%

Sales

4th Qtr; 6%
Poor; 14%
Good ; 45%

Average; 35%

Karnataka University Post Graduate, Gadag

Page 49

Karvy Stock Broking Ltd, Gadag

Q.6 Any other company whose service you like ?


Reliance money 35%

India infoline 20%Others

Religare

9%

Karvy

26%

Unicon

7%

Shriram

3%

0%

Reliance money
India infoline
Religare
Karvy
Unicon
Shriram

Q.7

They respondents are Karvy financial consultant Because Karvy people know

customer value and money value ?


Agree

54%

Just agree 39%

Karnataka University Post Graduate, Gadag

No opinion 6%

Page 50

Karvy Stock Broking Ltd, Gadag


Just disagree

1%

Disagree

0%

Agree
Just agree
No opinion
Just disagree

Q. 8Where do you get support level from?


a) Head Office

b)Branch Office

b) Both

Karnataka University Post Graduate, Gadag

Page 51

Karvy Stock Broking Ltd, Gadag

Head office; 18%

Both; 44%

Branch office; 38%

It was found that 18% of the support level to the franchisees was given by Head Office
whereas 44% were served by Branch Office. Rest 38% were served by both head office
and branch office. Those who were served by both of them complained that the problems
were not solved immediately.30% of franchisees claimed that their problems were not
solved immediately and it took little time as their was a chain from Branch office to head
office.

Q.9After knowing services provided by Karvy, would you like to be associated with
it?
a) Yes

b) No

b) Will tell later

Karnataka University Post Graduate, Gadag

Page 52

Karvy Stock Broking Ltd, Gadag


Yes

NO

Tell u later

17%

18%
65%

Q.10 What do you think Demat account is safe?


Yes

40%

No 20%

Karnataka University Post Graduate, Gadag

Page 53

Karvy Stock Broking Ltd, Gadag


Cant say 40%

Yes
NO
Can't say

In this pie-chart we found that 40% people said we think demat a/c is safe and 20% said not
safe and remaining 40% said that we cant say demat a/c of karvy is safe or not.

Q.11 Why you choose KarvyDemat service?


A Good will
B Safety

25%

C Service

25%

Karnataka University Post Graduate, Gadag

D Charges

20%
30%

Page 54

Karvy Stock Broking Ltd, Gadag

Goodwill
Safety
Service
Charges

Q.12

What type of KarvyDemat service?


a. Highly satisfy
b. Satisfy

60%
30%

Karnataka University Post Graduate, Gadag

Page 55

Karvy Stock Broking Ltd, Gadag


c. Dissatisfy

10%

Highly satisfied
satisfy
Dissatisfy

Q.13 Interested in visiting Karvy financial consultants because they provide quick and
timely service?
Yes

65%

No

35%

Yes
No

Q.14 Share trading

Karnataka University Post Graduate, Gadag

Page 56

Karvy Stock Broking Ltd, Gadag


Extremaly satisfied 49%

Satisfied

47%

Neither satisfied or unsatisfied 4%

Unsatisfied 0%

Extremely unsatisfied 0%

Ex.satisfied
satisfied
N. sa/unsatisfied
Ex.unsatisfied

Q.15 They respondent are definitely use service Karvy financial consultant Because attitude
of employee.?

Karnataka University Post Graduate, Gadag

Page 57

Karvy Stock Broking Ltd, Gadag

Agree 89%
Just disagree 0%

Just agree 24%

No opinion 7%

Disagree 0%

Agree
Just agree
No opinion
Just disagree
Disagree

Karnataka University Post Graduate, Gadag

Page 58

Karvy Stock Broking Ltd, Gadag

Chapter
-7
FINDING
S,
SUGGES
TIONS,
&
CONCLU
SION
FINDINGS

Karnataka University Post Graduate, Gadag

Page 59

Karvy Stock Broking Ltd, Gadag


1. People are interested in share market by but they are not much aware about the share
market procedure.
2. The money problem with share market a big problem
3. Trading problem is also a big problem.
4. Other group people like agricultural are not aware and interested in share market.
5. People are like the other companies.
6.The ups & downs, tops & bottoms i. e sudden change in the stock will cause distraction in
the minds of the investors due to lack of information by the stoke broking companies.
7.Lakh of services offered by the companies.
8.The percentage of growth of the investors in India is comparatively low as compared to the
developing countries like USA, UK, Germany etc.

Suggestion:
Karnataka University Post Graduate, Gadag

Page 60

Karvy Stock Broking Ltd, Gadag


The detail study of the project idea to the following recommendation:1. The company should come up with some good strategies to create awareness among people
regarding the financially Demat.
2. The company as soon as possible should try to convert itself into a bank so that many
people come in contract and joint with company.
3. They should try to provide some extra services to their customers.
4. The company should concentrate more on after sales services.

CONCLUSION:
Karnataka University Post Graduate, Gadag

Page 61

Karvy Stock Broking Ltd, Gadag


Concerning my project title CONSUMER SATISFACTISFACTION REGARDING
DEMAT SERVICES IN JAIPUR the survey conducted by me as I found that the consumer
satisfactions the only way for the success of any organization in the present time. And I came
to the following conclusion which is as follows
Response was very good from the customer regarding financial product because in
this time every one wants more return on less investment and in case of demat they
want true time to open the demat ( like at the time of issues ).
Karvy gaining good response in the demat field by providing good services.
I concluded by this that research that services and returns got more importance than

goodwill.
In the last six month it has opened the maximum number of Demat account at the
time of new public issues than any other companies.

I also conclude that many financial services at one place is the another reason of its
popularity.

Karnataka University Post Graduate, Gadag

Page 62

Karvy Stock Broking Ltd, Gadag

Chapter
8
BIBLO
GRAPH
Y&
ANNEX
URE

BIBLOGRAOHY:

www.karvy.com

www.sharekhan.com

Karnataka University Post Graduate, Gadag

Page 63

Karvy Stock Broking Ltd, Gadag

www.indiainfoline.com

company books & Brochures

NSDL Books

Guid line by Basavaraj P Makkaji (senior relationship manager)

ANNEXURE:
QUESTIONNAIRE

Karnataka University Post Graduate, Gadag

Page 64

Karvy Stock Broking Ltd, Gadag


I Geeta Yaragudi, Final year MBA student of Karnatak University Post Graduate Centre,
Gadag, undergoing a 2 months Major Concurrent Project (MCP) in your company on
Customer Satisfaction Regarding Demat Account as part of my MBA curriculum. The finding
of this research will be presented to the University. The data will be confidential and used for
academic purpose only and identity of sources of information will not be disclosed. I would
therefore be very grateful if you could spare sometime to respondent to this questionnaire.

Name of Employee -----------------------------Age:


a. 20-25

b.

26-35

c. 36-45

d. 36-46

e. Above 45

Gender:
a. Male

b.

Female

Married status:
a. Married b. Unmarried
Qualifications:
a. SSLC

b. PUC

c. Graduate

Designation:
a. Worker

b. Officer

Experience or Years of Service


a

Less than 5 years

b. 5 to 10 years

c. More than 10 years

1. Do you know about the Demataccount ?


Yes [ ]

No[ ]

Karnataka University Post Graduate, Gadag

Page 65

Karvy Stock Broking Ltd, Gadag

2. How much you are in favour of demat account opening charge for share trading
purpose ?
Good [ ]
Average [ ]
Poor [ ]
Excellent[ ]
3. Responder came to know the about Karvy financial consultant ?
Friends [ ]
Newspaper [ ]
Agent [ ]
Online [ ]
Others [ ]
4. What is your opinion relating to the rate of interest of margin funding facility of
Karvy ?
Good [ ]
Average [ ]
Poor [ ]
Excellent[ ]
5. What is your opinion regarding the stock broking service provided by Karvy ?
Good [ ]
Average [ ]
Poor [ ]
Excellent[ ]
6. Any other company whose service you like ?
Reliance money [ ]
Karvy [ ]
Regigare [ ]
Unicon [ ]
Shriram [ ]
India infoline [ ]
Others [ ]
7. They respondents are Karvy financial consultant Because people know customef
value and money value ?
Agree [ ]
Just agree [ ]
No opinion [ ]
Just disagree [ ]
Disagree [ ]
8. Where do you get support level from ?
Head office [ ]
Branch office [ ]
Both [ ]
9. After knowing services provided by Karvy would you like to be associated with it ?
Yes [ ]
No [ ]
will tell later [ ]
10. What do you think Demat account is safe ?
Yes [ ]
No [ ]
Cant say [ ]
11. Why you choose KarvyDematservice ?
Good will [ ]
Safety [ ]
Service [ ]
Charges [ ]
12. What type of KarvyDematservice ?
Highly satisfy [ ]
satisfy [ ]
Dissatisfy [ ]
13. Interested in visiting Karvy financial consultant Because they provide quick &
timely service ?
Yes [ ]
No [ ]
14. Share trading
Extremely satisfied [ ]
Satisfied [ ]
Unsatisfied [ ]
Neither satisfied or unsatisfied [ ]
Extremely unsatisfied [ ]
15. They respondent are definitely use service Karvy financial consultant Because
attitude of employee ?
Agree [ ]
Just agree [ ]
Just disagree [ ]
Disagree [ ]

Karnataka University Post Graduate, Gadag

No opinion [ ]

Page 66

Karvy Stock Broking Ltd, Gadag

Karnataka University Post Graduate, Gadag

Page 67

Karvy Stock Broking Ltd, Gadag

Karnataka University Post Graduate, Gadag

Page 68

Karvy Stock Broking Ltd, Gadag

Karnataka University Post Graduate, Gadag

Page 69

Karvy Stock Broking Ltd, Gadag

Karnataka University Post Graduate, Gadag

Page 70

Karvy Stock Broking Ltd, Gadag

Karnataka University Post Graduate, Gadag

Page 71