ON "A Study On Banking, Mutual Funds and Life Insurance Products"

REPORT
ON
“A STUDY ON BANKING, MUTUAL FUNDS AND
LIFE INSURANCE PRODUCTS”
By
Naman Mehta
18BSP0685
Page 1
REPORT
ON
“A STUDY ON BANKING, MUTUAL FUNDS AND
LIFE INSURANCE PRODUCTS”
By
Naman Mehta
18BSP0685
“BANK OF BARODA”
A Report submitted in partial fulfilment of the

requirements of PGPM Program of
Submitted to:
Faculty Guide Company Guide
Mr. Arun Chandarana Mr.Shaibal Banerjee
SUBMITTED ON:
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AUTHORIZATION
This project entitled “A STUDY ON BANKING, MUTUAL FUNDS AND LIFE

INSURANCE PRODUCTS” submitted to IBS Business School, Mumbai, is a record of an
original work done during the period 21st February, 2019 to 21st may 2019 under the guidance
of MR. SHAIBAL BANERJEE (Company guide) and Prof. ARUN CHANDARANA
(Faculty guide), IBS MUMBAI.
This project is submitted on the partial fulfillment of the requirements of PGPM Program of
ICFAI Business School, Mumbai.
NAMAN MEHTA
18BSP0685
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ACKNOWLEDGEMENT
I am really glad and exited in representing this summer training project report before you.
I must express my gratitude towards BANK OF BARODA for giving me an opportunity to

work with on this report.
I am highly indebted to Mr. Shaibal Banerjee, (Branch manager), Bank of Baroda,

Goregaon (West),he is also my company project guide, who has provided me with the
necessary information and his valuable suggestion and comments on bringing out this report
in the best possible way.
I am thankful to my faculty guide, Prof.Arun Chandarana Sir, for his constant support and
guidance during the whole duration of my internship.
I am grateful to all the officers and members of Goregaon (West) branch, who have helped
me in the successful completion of this project, special mention of my mentor during
internship Mr.Rajesh Rage(Joint Manager), Mr.Deepak (IndiaFirst Life Insurance),
Miss.Priya Singh (Mutual Fund Manager) . They have also provided me a valuable
suggestions and excellence guidance about this training.
I also thank the Dean of IBS Mumbai Prof Y.K. Bhushan for providing me the opportunity to
embark on this project.
Last but not the least my heartfelt love for my parents, whose constant support and blessings
helped me throughout this project. I am also grateful to my friends and my seniors, to all
known and unknown individuals who have given me their constructive advice, educative
suggestion, encouragement, co-operation and motivation to prepare this report.
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EXECUTIVE SUMMARY
Name: Naman Mehta Enrollment No: 18BSP0685 Specialization: Finance
Organization: “BANK OF BARODA” is an Indian Multi-national public sector Banking

and Financial services company. It is owned by Government of India and it has its
headquarters in Vadodara, Gujarat. It has a corporate office in Mumbai, Maharashtra. As of
March 31, 2018, the company operated 5,467 branches in India, as well as 106 branches
internationally.
Title of Project: A study on Banking, Mutual Funds and Life Insurance Products.
Objective:
 To get the knowledge about working of banking sector.
 To know about the benefits of Banking to the people.
 To know the various range of products and services provided by Bank of Baroda.
 To understand the concept of Mutual Funds and how it works in India.
 To understand the different components such as Risk, Tax liability, Returns, NAV
and other benefits related to mutual fund investment.
 To do the analysis of Past performance and trends before investing into mutual funds
 To gain the knowledge of Life insurance products and analyzing the benefits of
Policies.
 To know the various aspects such as Maturity value, Premium paying term, Fringe
benefits of Life insurance products.
Methodology: Evaluating and analyzing the working of Banking, Mutual funds and Life
insurance products.
Findings:
 Over the last three decades, the role of banking has been undergoing a profound
transformation, owing to changes in global financial system.
 Investors in mutual funds looks for NAV per unit of Mutual fund and they compare
the past performance trends of the mutual fund scheme before investing in the fund.
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 Investors look for higher benchmark returns of Mutual funds scheme while investing
in a scheme
 The Importance of taking a life insurance policy is increasing day by day and hence,
there is an opportunity for insurers who can get ahead of the curve, through
implementing new products to the customers and earn profits
 IndiaFirst Wealth Maximiser plan is the best performing plan of Bank of Baroda as it
gives Benchmark returns of over 10 % p.a.
Conclusion & Recommendation:
 The Indian Banking sector is growing massively every passing year and holds good
growth potential for long term owing to steady economic growth
 Taking the Banking industry to the heights of international excellence will require a
combination of new technologies, better processes of credit and risk appraisal,
Treasury management, Product diversification and betterment in offering of services.
 There have been a change in people perception from banking to Mutual Funds and
Life insurance .i.e. people are ready and are taking mutual funds and life insurance as
an investment tool and are investing in different schemes of mutual funds and life
insurance. This shows that India is growing from traditional way to modern.
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TABLE OF CONTENTS
PAGE
SR NO TOPIC NAME
NO
1 INTRODUCTION 9
2 COMPANY PROFILE 13
2.1- Brief Introduction of Company 13
2.2- Competitors 14
2.3- Awards and Achievements 14
3 MUTUAL FUNDS 15
3.1- What are Mutual Funds? 15
3.2- Different types of Mutual Fund Schemes 16
3.3- What is NAV, How does it work? 18
3.4-What is suggested portfolio for investors 21

considering their Age?
3.5- Mutual funds products offered by Bank of 22

Baroda
4 LIFE INSURANCE 29
4.1- What is Life Insurance? 29
4.2 Why is Life Insurance Important? 30
4.3- Types of Life Insurance Policies 31
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4.4- Life Insurance products offered by Bank of 32
Baroda
5 BANKING (BANK OF BARODA) 36
5.1- Different types of Bank Accounts. 36
5.2- Types of Bank deposits 38
5.3- Account opening procedure 38
5.4- Signature Verification System 39
5.5- Different Money Transfer Methods 40
5.6- Different Types of Loans 41
5.7- Digital Facilities provided to Customers 47
5.8- Currency Chest department 54
5.9- Government Business and Government Schemes 55
6 CONCLUSION & RECOMMENDATIONS 57
7 BIBLIOGRAPHY 58
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1 INTRODUCTION
1.1 SYNOPSIS:
The project report is about a studying the working of banking sector including product
offerings by bank, Mutual fund industry and mutual fund products, Life insurance industry
and life insurance products. For doing a report on these aspects, study has been done in detail
about the banking sector which includes different types of bank accounts, deposits, loans and
advances, cards, investment products, digital baking, government banking schemes etc.
Mutual fund industry is also studied in detail with emphasis on different types of mutual fund
schemes and analysing them to find out the best. Different life insurance products have been
examined to analysis the best available schemes with the most benefits.
1.2 ABSTRACT:
As a part of my training I learnt about different activities and banking work:
 In the initial days of my internship I was given a brief idea about the working of bank,
I was given the knowledge about daily routine activities that a bank undertakes as
well as the banking products, services and technologies. After a few weeks I was also
given knowledge regarding Mutual funds and Life insurance products that Bank of
Baroda deals in.
 In Banking, they started with the basics, different elements and segments which, I
need to focus while carrying out the project.
 As in Banking, I got to know about working of saving account, current account, PPF
account
 Working of Debit card department- First 15 days in Debit card department, where
Mr.Munsey Sir gave me the work of entering account holder’s detail along with their
card number as well as sorting and filtering of Debit cards.
 I helped the customers to generate new pin for their debit cards in ATM machine.
 Working of currency department- Here, I was given explained the security features of
a currency note, how to identify that a currency note is true or fake, I was given the
work of classifying the currency notes into –Culls (Spoiled/ Non-issuable currency),
Unfit currency notes and Fit (Issuable currency notes).
 Transactions of Fix deposits and use of Fixed deposits receipt was explained to me
Mr. Rangaswamy Sir.
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 Process of NEFT, RTGS and Bank transfer was also made known to me.
 I was taught how to do Mobile banking, Tele-banking (where i need to called the
customers regarding arrival of their passbook in bank, informing them to update their
KYC, informing that some of their transactions cannot take place because their low
account balance)
 Signature verification system (SVS) on Finacle software-Here I was given work of
Scanning the account opening forms as well as verifying the signature of the
customers on SVS i.e. Signature verification system.
 NRE account, NRO account, Pension schemes etc.
 Apart from this, I also worked on R-menu forms/Custmob, which helps the customer
to update his mobile number, where we need to enter Name of the account holder,
account number, Outstanding balance, whether the account is high risk category
(yes/no), Reason/justification for not contacting the customer on old/existing number,
R menu Reference number and send it for verification.
 Cheque book and Net banking register is also maintained by me daily, where, I need
to enter the details of every new cheque book and net banking entries in the register
before issuing it to customer.
After this I worked on all the different activities performed by Bank of Baroda in detail to get
the in depth knowledge of working of bank and to gain understanding of different services
provided by banks to its customer. To learn the external as well as internal working of a
Banking organisation.
I was also given an insight about the mutual fund and its various aspects by Miss. Priya Singh
(Mutual fund manager). One can have a brief knowledge about mutual funds and all its basics
through the project.
Some of the most interesting questions regarding mutual funds have been covered. Some of
them are:
 Why has it become one of the largest financial intermediaries?

 How investors do chose between funds?
 How to choose a Mutual fund?
 What Factors should be considered while making a mutual investment?
 Which are the most lucrative sectors for fund managers?
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Bank of Baroda has tie up with 19 major Asset management companies (AMC’s) that has
many types of mutual funds under it. Bank of Baroda itself has different mutual funds
schemes under its purview. In Mutual fund investment I was explained about the factors that
we need to consider before investment in mutual fund. As in mutual fund investment we need
to know about the expected returns, risk involved, profitability, volatility, past performance,
trends etc. of different mutual funds schemes of Bank of Baroda were explained to me.
Bank of Baroda has tie up with IndiaFirst Life insurance Limited for its life insurance
products. IndiaFirst Life insurance company was started as a joint venture between two of
India’s public sector banks- Bank of Baroda (44%) and Andhra bank (30%) and UK’s
financial and investment company legal & General (26%).
During my internship I was taught about the life insurance sector, how it works, what are the
things that we need to know before investing or taking up a life insurance policy such as
Premium amount, policy period, premium paying term, Maturity value, Tax benefits etc.
Different Life insurance plans and policies of Bank of Baroda were also made known to me.
For carrying out the study, the first thing to analyse was the outlook of Banking industry,
Mutual fund industry and Life insurance industry. Different types of mutual fund and life
insurance schemes should be compared to find out which the best performing Mutual Fund is
and which the best performing Life Insurance policy is.
This study will help to have a better view about analysing Mutual Fund performance and
evaluating Life insurance Products.
1.2 PURPOSE OF THE PROJECT:
The primary objective of this project is to understand the work of banking sector and to know
about the products offered and services rendered to the customers. It will also help to learn
about routine activities that bank undertakes for its customers.
It will help us to determine whether it is worth investing in mutual funds or not, it will also
give us knowledge of mutual products offerings of Bank of Baroda.
It will also give us the hindsight of Life insurance sector in India, benefits of taking up a life
insurance policy, different types of life insurance policies, factors that people look for before
taking up an life insurance policy.
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1.3 SCOPE OF THE PROJECT:
The study will be limited to only to Banking, mutual fund and life insurance sectors. No other
sectors shall be studied in the report.
Due to time constraints, large banks having high customer base will be studied with certain
focus on Bank of Baroda. Similarly in mutual funds, top performing mutual funds will be
studied while keeping focus on Bank of Baroda mutual funds and in Life insurance, top
performing schemes are taken into consideration while drawing centre towards IndiaFirst
Life insurance schemes.
1.4 METHODOLOGY:
Evaluating and analyzing the working of Banking, Mutual funds and Life insurance products.
The methodology used is a combination of primary and secondary sources. The primary
sources will be the personal observation method through interactions with the mentors. The
secondary sources will include relevant textbooks, and company's official website and other
websites like moneycontrol.com, Investopedia.com, Ibef.com.
1.5 LIMITATIONS OF THE STUDY:
 The study shall be limited only to products and services offered by Bank of Baroda
and not many companies would be consideration for comparison purpose.
 There is time and monetary constraints for the project due to which the information
provided might not be exhaustive.
 The financial data mentioned in the report is over a year old.
 There might be a few errors due to misinterpretation or oversight.
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2 COMPANY PROFILE
2.1 Brief Introduction of Company
BANK OF BARODA is an Indian Public bank which is a multi-national bank as well as

Financial service Company. It is owned by Government of India and it has its headquarters in
Vadodara, Gujarat. It has a corporate office in Mumbai, Maharashtra. As on March 31, 2018,
the company operated 5,467 branches in India, as well as 106 branches internationally.
Founder of Bank of Baroda is- Maharaja Sayajirao Gaekwad III
Bank of Baroda was nationalised on 19 July 1969 along with 13 other major commercial
banks of India, by Government of India and has been designated as a profit-making public
sector undertaking.
Bank of Baroda itself having over 5400 branches globally and staff strength of over 55,600,
Bank of Baroda has continued to retain its leadership position amongst the nationalised
banks.
The bank is first amongst the public sector banks in India, to introduce and implement
extended working hours like 12 hours banking and 24 hour banking. The bank also
introduced the concept of Happy hour banking which is designed to encourage customers to
avail certain services during lean business hours of the branch by providing them incentives,
gifts as well as concessions in service hours etc. Happy hour banking is available from 5 p.m
to 8 p.m in 24 hour banking branches and from 6 p.m to 8 p.m. in 8 a.m to 8 p.m branches
After a century now, the bank has its presence in 24 countries across the world, with overall
customer base of more than 78 million.
Bank of Baroda is in talks recently because of its three way amalgamation with Vijaya Bank
and Dena Bank and is going in for transition of organisation to improve the overall efficiency
of operations and have better control and monitoring mechanisms in the combined entity.
Bank of Baroda is one of the leading banks having least non-performing assets (11.5 %). This
consolidated bank now has 12 crore customers, 9500 branches, 13400 ATMs and 85000
employees across India.
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2.2 COMPETITORS
Bank of Baroda is 2nd Largest public sector bank after State Bank of India and it is forecasted
to grow rapidly after merger with Dena Bank and Vijaya Bank. Bank of Baroda is one of the
leading banks amongst the Indian Banks, thus there are different public and private sector
banks that Bank of Baroda has to face and compete with and some of these competitors are
listed below:
STATE BANK OF INDIA HDFC BANK

BANK OF INDIA ICICI BANK
ALLAHABAD BANK KOTAK MAHINDRA BANK
CANARA BANK AXIS BANK
CENTRAL BANK OF INDIA INDUSLND BANK
PUNJAB NATIONAL BANK YES BANK
2.3 AWARDS AND ACHEIVEMENTS
 Bank of Baroda has won the award for the ‘Most Customer centric Bank using
Technology’ at IBA Banking technology Awards Functions, Mumbai
 Bank of Baroda won the Runners up award for “Best Payment initiatives” at IBA
Banking technology Awards Functions, held at St.Reges, Mumbai.
 Bank of Baroda has won the award for ‘Best Bank in Supply chain Finance’ by the
Institute of supply chain management.
 Bank of Baroda has been awarded winner in Agricultural banking in the large class
bank category in ASSOCHAM social banking excellence award 2017
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3 MUTUAL FUNDS
3.1 What are Mutual Funds?
 Mutual fund is a type of financial tool which collects the pool of money from many
investors and then invest that money in securities such as bonds, stocks, money
market instruments as well as other assets.
 Money is collected from the investors and it is managed by Professional Fund
managers, who have financial experience of many years.
 These Professional fund managers invest the money in different mutual funds in order
to produce capital gains or income for the investor.
 Financial experts invest this money in mutual funds through optimum mix of Equity,
Debt, Equity + Debt.
 Mutual investment is generally made into large number of securities and the
performance of the fund is tracked by the change in total market capital of that fund
 Price of a Mutual fund share is known as Net Asset Value [NAV] per share. While
investing is Mutual funds, NAV plays an important role in the mind of the investor.
 Annual fees or Expense ratio of the mutual fund sometimes affects the overall return
of the mutual fund, so an investor has to take into consideration all these aspects while
investing into a mutual fund.
 If an Investor is willing to invest in mutual fund for a longer duration of time and is
ready to take risk, then they should invest in Equity, there will be many fluctuations
over the years, but overall they are likely to earn good return in their investment.
 If an investor wants to less risk, less returns, then they should invest in Debt portion
of mutual fund, where they will get stabilised returns of 8 to 9 % at less risk.
 Returns earned on mutual funds are distributed proportionately amongst the investors
after deducting the applicable expenses and charges.
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3.2 Different types of Mutual Funds schemes?
A.) Schemes Based on Maturity Period
1. Open Ended Schemes
 Open Ended schemes are the ones which do not have a fixed maturity period.
 These schemes can re-purchase and subscribed on continuous basis.
 These schemes are Liquid in nature
 Here, the investor can buy and sell the securities at NAV (net asset value) which are
displayed on daily basis.
2. Close Ended Schemes
 Close ended schemes have a fixed or stipulated maturity period of e.g. 5 to 7 years.
 Investors can subscribe for this fund only during the launch of the scheme for a
specified period.
 Investors can purchase the units of the schemes at the time of Initial public issue and
after that they can buy and sell the securities on the stock exchanges where the units
of mutual fund are already listed.
 NAV of these schemes are declared generally on weekly basis.
B.) Schemes Based on Investment Objective
1. Growth Schemes
 Objective of these schemes is to appreciate your capital in Medium to Long term.

 In these schemes, majority money is invested in equity and is willing to bear short
term decline in the value of fund in regards to the future appreciation.
2. Income Schemes
 It focuses on providing steady and regular income to the investors.

 Here, the money is generally invested in securities which give fixed returns such as
bonds, corporate debentures.
 The returns on these schemes are limited because of low risk.
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3. Balanced Schemes
 A balanced scheme provides both income and growth by distributing the part of
income and capital gains periodically.
 Here, Investment is made in both fixed income securities as well as shares in
proportion mentioned in the particular scheme
 NAV of these schemes may not normally keep up the pace in rising stock market and
it may not fall in the pace equally when market is down.
4. Money Market/ Liquid Schemes
 These schemes provide easy liquidity option to the investor; it also enhances
preservation of capital and moderate income for the investor.
 Money collected from the investors in these schemes are generally invested in safer
short term instruments such as Certificate of deposits, Treasury Bills, Commercial
papers and Inter-Bank call money.
 Here, the returns may fluctuate depending upon the prevailing interest rates in the
market.
5. Equity Linked Saving Schemes (ELSS)/ Tax Saving Schemes
 These Schemes gives Tax benefits to the investor as per the existing Tax laws as
prescribes in Income Tax.
 It promotes long term investment in equities through Mutual funds.
6. Index Funds
 In Index funds the returns are earned on the basis of the index such as BSE, NSE 50,
i.e. Nifty index. etc.
 NAV of index funds rise and fall in same proportion to that of its index.
 Returns are approximately equal to that of the index.
7. Exchange Traded Funds (ETFs)
 These funds are basically index funds that are listed and traded on stock markets
 Therefore, the returns earned on these funds are market oriented.
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8. Capital Protection Oriented Scheme
 The primary objective of these schemes is to protect the capital of the investors in first
place by investing in High quality fixed income securities.
 Earning capital appreciation by investing in equity and equity related instruments is
the secondary objective in this scheme.
9. Gold Exchange Traded Funds (GETFs)
 These funds offer the investors an easy and convenient way to access the Gold
market.
 Here, investor buys and sell units on stock exchange without taking actual physical
delivery of gold.
10. Quantitative Funds
 Investment is done in the funds after doing quantitative analysis.

 Here, computer models are used to determine whether the investment is profitable or
not.
 The decision of buying and selling the funds are made a computer model i.e. Quant
shop. Although the final decision to buy or sell remains to be a human judgement.
11. Funds Investing abroad
 After the opening up of Indian economy, it is now possible for the Indian investors to
invest to invest in the Foreign securities, ADR (American depository receipt) etc.
 The investment can be done fully abroad or partly domestic and partly abroad.
12. Funds of Funds (FOFs)
 Funds of funds are the schemes in which the investment us made in different mutual
fund schemes.
 In these schemes, the portfolio is made up of different mutual fund schemes, cash,
money market securities etc.
3.3 What is NAV, How does is Works?
 NAV is calculated by dividing Total assets of a mutual fund by the Total number of
units issued to investor
 NAV changes on daily basis as the value of underlying assets changes.
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 It is used to access the performance of Mutual fund.
 NAV is the market value per unit of all the securities held by a Mutual fund scheme.
How does it work?
 When you invest money in mutual fund, you get units in exchange of your investment
 This makes you the unit holder in Mutual fund scheme.
 It is like becoming a shareholder after buying stocks.
 Mutual funds hold certain number of Assets at given point of time and mutual fund
investors hold certain number of units in those mutual fund.
 To arrive at the NAV of the scheme, you have to first calculate the Total Net Assets
of Mutual funds. This is, The Market value (MV) of all assets of mutual fund (-)
Liabilities, as of current date
 NAV is calculated by = Total Net Assets/ Total No. of Units Issued.
 Market value of securities changes every day and thus, NAV of scheme varies daily.
 It is Mandatory for Mutual Funds to disclose NAV of Mutual Fund Daily.
Example for understanding the concept:
The MV of securities of a Mutual fund scheme is Rs.200 crore and it has issued 10 crore
units to investors. Therefore, Funds NAV per unit will be Rs.20
I.e. Net Assets/ No. of units issued = 200/10= 20 Rs
Difference between NAV and Stock price
NAV Stock Price
 In, Mutual funds, there is no such  When company gets listed on stock
thing as Market Price of a unit. exchange its share becomes available
for investors to buy. The cost of
company’s share mentioned in stock
market is called as MP of the share.
 We buy mutual funds at book value;  Stock Market price of the share
therefore, NAV of the Mutual fund is depends upon various factors. i.e.
equal to the Book Value of the Unit. Demand supply scenario, Company’s
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Here, market price of the share is potential etc. So, Stock Market Price
totally different from NAV of Mutual of the share is different from its book
Fund. value.
Example of NAV
Suppose you invest in two mutual fund Scheme X and Scheme Y.
Suppose Scheme X has a NAV of Rs. 10
Scheme Y has a NAV of Rs. 50
You make an investment of Rs.1 lakh in both the schemes.
Is NAV of the mutual relevant when it comes to performance of the fund?
Here,
It may look like Scheme X is cheaper because you get 10000 Mutual Fund Units i.e.
100000 (investment amount)/ NAV
In Scheme Y, you get 100000(investment amount)/NAV i.e. 2000 Mutual Fund Units.
So,
For both the schemes the investment is Rs.100000
The difference here is that you get more units with Scheme X i.e. 10000 units than with
scheme Y i.e. 2000 units
So, NAV of Mutual Fund is Irrelevant when it comes to Performance of the fund
NAV of Mutual Fund is the book value while investing in mutual funds, so an investor
should always check performance of the fund and not its NAV before investing.
Investors should do this by looking at the returns of the funds generated over the years.
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3.4 What is the suggested portfolio for the investors considering their Age?
Age Main Objective Portfolio Strategy
20 to 29 Aggressive Growth- Sow the 60%- Growth Funds

seeds, Plan the housing and create
20%- Blue Chip Stocks
a safety cushion
15%- Balanced Funds
5%- Money markets/ Cash
30 to 39 Growth- Save for housing, 45%- Growth Funds

children’s expenses (present
30%- Balanced Funds
future- education etc) and safety
cushion. 05%- Blue chip stocks
20%- Money Market/ Cash
40 to 49 Growth- Children’s expenses 40%- Growth Funds

(Present and future- education etc)
30% Balanced Funds
and safety cushion
50 to 59 Retirement- Save for retirement 30%- Growth Funds

and plan for a safe future 40%- Balanced Funds
10%- Blue chip Stocks
60 to 69 Safety- Preserve Investment 10%- Balanced Funds

savings and opt for minimal
15%- Income funds
growth
20%- Dividend Stocks

30%- Certificate of deposits (Short
term)
70 and Above Safety- Preserve Investments 30%- Income Funds

Savings
25%- Dividend Stocks
35%- Certificate of deposits (short
term)
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3.5 Mutual Fund Products offered by Bank of Baroda
Bank of Baroda provides Mutual fund products under its wholly owned subsidiary known as
BAML (Bank Asset management India Limited)
Baroda asset management India limited (AMC) is investment manager to Baroda Mutual
fund is positioned to serve the different asset management needs of Investors in India through
a range of Equity, Debt and money market offerings.
The schemes and mutual fund products were briefed to me by Miss.Priya Singh (Mutual
Fund manager) and it gave me an understanding of how the investment in these products
works. Bank of Baroda Mutual fund products are categorised into Equity schemes, Debt
schemes, and Liquid schemes.
Equity Schemes
1-Baroda Multi-Cap Fund
It is an Open-Ended Scheme. The main aim of this scheme is to generate a hike in capital by
investing in a portfolio that comprises of Equity and Equity related stocks of Mid-Cap
companies which are growth oriented. The portfolio of this fund comprises of 54 Stocks. The
total Fund size is Rs.799.49 Cr as on 30/4/19. This Fund has made 93.41% of Investment in
Indian Stocks out of which 62.37% is in Large-cap stocks, 27.33% in Mid-cap Stocks and
3.65% in Small-Cap Stocks.
This Plan is suitable for the investors who are willing to invest money for at least 3-4 years
and looking for higher returns, similarly these investors should also be ready to bear the
possible losses on their investment.
Risk involvement is on moderately higher side as the investment is done more in Equity.
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2- Baroda Mid-Cap Fund
It is an Open-Ended Scheme. The main aim of this scheme is to generate a hike in capital by
investing in a portfolio that comprises of Equity and Equity related stocks of Mid-Cap
companies which are growth oriented. Although, there is no guarantee that the aim of earning
capital appreciation will be fulfilled. The portfolio of this fund comprises of 39 Stocks. The
Indian Stocks out of which 10.25% is in Large-cap stocks, 75.18% in Mid-cap Stocks and
10.88% in Small-Cap Stocks.
and looking for higher returns, similarly these investors should be also liable to bear the risk
related to their investments.
Risk involvement is high in this scheme.
3- Baroda Large Cap Fund
It is an Open-Ended Scheme. The goal of this scheme is to generate a capital appreciation by

investing in a portfolio that comprises of Equity and Equity related stocks of Large-Cap
companies as well as debt and money market securities. Although, there is no guarantee that
the aim of earning capital appreciation will be fulfilled. The portfolio of this fund comprises
of 35 Stocks. The total Fund size is Rs.32.62 Cr as on 30/4/19. This Fund has made 93.3% of
Investment in Indian Stocks out of which 86.46% is in Large-cap stocks, 6.76% in Mid-cap
Stocks and 6.78% in Small-Cap Stocks.
and looking for higher returns, similarly these investors should be also liable to bear the risk
related to their investments.
Risk involvement is moderately high in this scheme as money is invested in Large Cap
stocks.
4- Baroda ELSS’96
Equity linked saving scheme is an open ended scheme with a mandatory lock period of 3
years. The main characteristics of this scheme are it provides tax benefit under Section 80C
of Income tax Act. This scheme invests majorly in Equity stocks and a minor portion towards
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debt. The portfolio of this fund comprises of 44 Stocks. The total Fund size is Rs.154.8 Cr as
on 30/4/19. This Fund has made 94.1% of Investment in Indian Stocks out of which 60.87%
is in Large-cap stocks, 27.07% in Mid-cap Stocks and 6.07% in Small-Cap Stocks.
This Plan is suitable for the investors who are willing to invest money for at least 3 years and
who are looking for additional savings in income tax apart from the expectations of higher
returns. As there is 3 year lock in period, there is possibility of losses during this period. So,
the investor should be ready to face losses if any.
Risk involvement is moderately high in this scheme as money is invested in Equity stocks.
5- Baroda Hybrid Equity Fund
This scheme is an open ended scheme which invests in equity and equity related instruments
as well as Debt and money market instruments. The portfolio of this scheme comprises of 46
stocks. The total Fund size is Rs.663.83 Cr as on 30/4/19. This Fund has made 70.12% of
Stocks and 3.46% in Small-Cap Stocks. This fund has investment of 26.73 % in Debt out of
which 1.29% in Government securities and 22.62% in low risk securities.
This Plan is suitable for the investors who want to have a balanced mixture of equity and debt
in their Portfolio.
Risk involvement is moderately high in this scheme as money is invested in Equity and you
can some security as some part of fund is directed towards debt.
6- Baroda Banking and Financial Services Fund
This scheme is an open ended scheme which invests in equity and equity related instruments
of Banking and Financial Service companies. The portfolio of this scheme comprises of 17
stocks. The total Fund size is Rs.41.88 Cr as on 30/4/19. This Fund has made 94.45% of
Stocks and 2.1% in Small-Cap Stocks.
This Plan is suitable for the investors who have advance knowledge of investment and they
are willing to take risk in terms of getting higher returns compared to other equity funds.
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Investors should also be ready to face the possibility of losses. Risk involvement is very high
in this scheme as money is invested in banking and financial service sector in bets to get god
returns.
7- Baroda Dynamic Equity Fund
It is a dynamic asset allocation fund which invests the funds in equity and equity related
securities and the secondary objective over here is to generate the stabilised income through
investing in debt and money market instruments. Here, capital gets appreciated over medium
to long term. The portfolio of this scheme comprises of 40 stocks. The total Fund size is
Rs.380.70 Cr as on 30/4/19. This Fund has made 66.41% of Investment in Indian Stocks out
of which 56.29% is in Large-cap stocks, 9.72% in Mid-cap Stocks and 0.37% in Small-Cap
Stocks. It also invests in 24.17% in Debt (very low risk securities).
This Plan is suitable for the investors who are willing to invest for a few years to get good
returns on investment.
Risk involvement is again moderately high in this scheme.
Debt Schemes
1-Baroda Short term Bond Fund
It is open ended debt fund which invests in short term debt instruments such that the duration
of portfolio is between 1 to 3 years. The portfolio of this scheme comprises of 28 stocks. The
Debt out of which 4.35% in Government securities, 93.31% of funds are invested in very low
risk securities.
This plan is particularly suitable for the investors who want to invest their money for 1 to 3
years and are looking for alternative to bank deposits.
Risk involved in this scheme is moderately low as investments are made into low risk
securities and investors target regular income over short period.
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2- Baroda Treasury Advantage Fund
It is open ended debt fund which invests in short term debt instruments such that the duration
of portfolio is between 6 months and 12 months. The portfolio of this scheme comprises of
20 stocks. The total Fund size is Rs.542.19 Cr as on 30/4/19. This Fund has made 95.46% of
Investment in Debt out of which, 68.21% of funds are invested in very low risk securities.
This plan is particularly suitable for the investors who want to invest their money for 1 to 3
years and are looking for alternative to bank deposits.
3- Baroda Gilt Fund
It is an open ended scheme mainly investing the money in government securities. Here, the
portfolio comprises of 9 Government stocks and T-Bills. The total Fund size is Rs.27.48 Cr
as on 30/4/19. This Fund has made 96.17% investment in government securities and rest in
T-Bills.
This plan is suitable for the investors who want to invest their money for longer duration but
their top priority is safety of their funds.
Here, there is moderate risk involved and capital is appreciated over medium term with
liquidity.
4- Baroda Conservative Hybrid Fund
It is an open ended hybrid scheme which invests the money in debt instruments and money
market instruments and capital is appreciated over longer period. The portfolio of this scheme
comprises of 15 stocks. The total Fund size is Rs.19.5 Cr as on 30/4/19. This Fund has made
11.87% of investment in Indian Stocks of which 9.47% is in large cap stocks, 2.01% in mid
cap stocks, 0.22% in small cap stocks and 77.34% investment in debt securities
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This plan is suitable for the investors who want wants stabilised returns with option of
dividend as well.
Risk involved in this scheme is moderate.
5- Baroda Dynamic Bond Fund
It is open ended dynamic debt scheme. Here, investors can get liquid returns. The portfolio of
this scheme comprises of 12 stocks. The total Fund size is Rs.23.96 Cr as on 30/4/19. This
Fund has made 94.92% of Investment in Debt out of which, 70.56% and 11.39% of funds are
invested in very low risk securities.
This plan is particularly suitable for the investors who want to invest their money for longer
duration but they want less risky returns as compared to equity funds.
6- Baroda Credit Risk Fund
It is an open ended debt schemes which is focused on investing in AA and below rated
coupon bonds. It aims to generate returns through debt and money market instruments. The
portfolio of this scheme comprises of 38 stocks. The total Fund size is Rs.989.3 Cr as on
30/4/19. This Fund has made 96.11% of Investment in Debt out of which, 1.8% in
government securities and 84.58% of funds are invested in very low risk securities.
This plan is particularly suitable for the investors who want to invest their money for longer
duration but they want less risky returns as compared to equity funds.
Risk involved in this scheme is moderate as investments are made into low risk securities and
investors target regular income over short period.
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7- Baroda Ultra Short duration fund
It is an open ended scheme. It invests the money in short term instruments to get stabilised
returns. . The portfolio of this scheme comprises of 20 stocks. The total Fund size is
Rs.339.03 Cr as on 30/4/19. This Fund has made 94.83% of Investment in Debt.
This plan is particularly suitable for the investors who want to invest their money for very
shorter duration, but they want a little more returns than bank deposits
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4 LIFE INSURANCE
4.1 What is Life Insurance?
 Life insurance policy is a contract between the person and insurance company which
provides coverage for the unexpected death of the policy holder.
 It also provides maturity amount in some plans where the policy holder survives the
policy term.
 To to avail this life protection, the insured person pays a certain amount as premium
towards maintaining the policy.
 Life insurance is a safety cushion that provides financial security or protection against
loss of life.
 The main aim of a life insurance policy is to protect the financial needs of the insured’s
family.
 The insured person will select the desired death benefit amount for the family depending
upon the needs of their family/beneficiaries.
 Insurance companies provides different life insurance plans to the people, more benefits
come with higher premium.
 Life insurance can also be seen as an investment tool that helps you to save for the future
expense of your child or your post retirement expense.
 Life insurance provides you with an option of both life protection as well as investment.
There are 3 basic aspects related to life insurance, namely:
 Premium – A person is given a life cover by an insurance company only if he/she pays a
certain sum of money towards the policy. This certain sum of money paid towards policy is
called Premium. It can also be considered as an initial investment that will fetch returns in
future. Premium can also be referred as the amount paid to insurance company to secure a
protection for life.
 Death Benefit/Sum Assured – .The amount which is paid by insurance company to the
nominee or beneficiaries of the deceased person is called as the death benefit. On death of
a person his family gets the Sum assured of the policy. This death benefit helps the
beneficiaries to carter their financial needs.
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 Term – Policy Term is the period for which the policy is taken by the person insured. An
insurance policy provides protection for a certain period of time. This period for which the
protection is provided is called Policy Term.
4.2 Why is Life Insurance Important?
As we the know the stress attached with our daily life, we often come across the people
whose life has ended untimely, leaving their family shattered in pieces after their death.
So, here are some of the reasons which make life insurance very important in today’s life.
 Peace of Mind – Peace is what every human runs after and we have seen only few people
succeeding in finding the peace. Buying an insurance plan can always offer you with
peace of mind, life insurance will provide with the welfare of your loved ones in case of
any unfortunate event like death. This helps to live your routine life without much stress
about the future holds.
 Financial security – The insurance plan helps you to provide for any financial
requirements the nominee/beneficiary could incur in future. Policy holder can customise a
policy to meet individual expectations. Apart from it, a number of us take loans to meet our
financial needs. This loan needs to get repaid even if the borrower dies. This loan amount
needs to be paid back, even if the borrower passes away. The burden of repayment of loans
falls onto the family members in such cases. A life insurance plan can provide sufficient
funds to repay any amount, ensuring that there are no additional liabilities to take care of.
 Additional income –Some Life insurance plans are framed in such a way to offer an
additional source of income to the insured during his/her lifetime. This helps you to earn
good returns along with life cover. You get additional monetary benefits on your initial
investment.
 Savings – While a life insurance plan might not be intended towards inculcating the habit
of saving, it can help one save money for the future. Certain policies offer returns which
are linked to the market, while other offer bonuses on maturity.
 Tax benefits – Investing in a life insurance plan helps one save tax. Individuals can avail
tax benefits or tax rebates under various se
 ctions of the Income Tax Act. While there is a limit on the deductions permitted on
premiums paid, the amount received as a death benefit does not attract any tax.
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 Offsets liabilities – Any liability which an insured individual has is likely to be transferred
to his/her family after his/her death. A life insurance plan offsets these liabilities, providing
funds to repay any outstanding debt, ensuring that the family is not plunged into further
darkness.
 Loan – One can avail a loan against a life insurance plan. This depends on the policy in
force and could vary from insurer to insurer.
4.3 Types of Life Insurance Policies
1- Endowment policy
 An Endowment policy is a life insurance policy which covers the life of insured and it
also helps the policy holder to save regularly over specific period of time, so that the
insured person is able to get a lump sum amount on maturity in case he/she survives
the term of policy
 Full sum assured is paid by Life insurance endowment policy to the beneficiaries, if
the insured dies during the policy term or policy holder on Maturity of policy, if
he/she survives the policy term.
 Endowment plan fulfils the combined need of Life cover and savings in a single plan.
 Endowment plans are also called as Traditional plans; since the plans are long term in
nature, the longer the policy, longer the overall benefit.
2- Term Life insurance Plan
 The plans which are purchased for a fixed duration of time are called as Term plans.
i.e. for 10,20,30 years etc.
 Term life insurance plans do not have any Maturity benefits
 It promises to provide for only death benefit
 In term plans, the premiums are lower.
 Term plan does not provide for savings,
 This policy is helpful during occurrence of an event.
3- ULIP (Unit Linked Insurance plan)
 ULIP consist of both insurance policy along with investment

 ULIP provides us with Wealth creation along with Life cover.
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 Here, Insurance Company puts some portion of your investment towards life
insurance policy and rest towards a fund that is based on Equity or Debt or Equity +
Debt.
 Premium paid for ULIP are Tax deductible.
 ULIP gives us compounded returns , due to which our long term gal can be fulfilled.
4- Money –Back Life Insurance Policy
 Money back policy is a life insurance policy that provides life cover to the person
who purchases it, here a person will pay certain amount of money consistently
towards the policy, so his/her family members gets a sum of money when the policy
holder expires.
 This policy allows the policy holder to receive pay-outs at regular intervals during the
policy term as a part of survival benefit.
 There is also something called as money back instalment plan which gives some part
of maturity benefit in regular instalments before the scheme period ends.
 Policy holder will receive regular pay-outs as long as he/she is alive, once Death pay-
out is done, policy reaches maturity, then no further payments will be made by the
policy.
4.4 Life Insurance Products offered by Bank of Baroda
Bank of Baroda has tie up with IndiaFirst Life insurance limited through which it has various
product offerings of Life insurance which gives a protection against life.
Headquartered in Mumbai, IndiaFirst, with a paid-up share capital of Rs. 475 crores, is one of
the country's youngest life insurance company promoted by two of India's largest public
sector banks - Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and
investment company Legal & General. Bank of Baroda holds a 44 per cent stake in
IndiaFirst, while Andhra Bank and Legal & General hold a 30 per cent and 26 per cent stake
respectively. Some of the schemes allow you to maximise your wealth along with the Life
cover.
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Life insurance products were explained to me by Mr. Deepak Sir (IndiaFirst Life insurance)
and it gave me knowledge about how the working of life insurance products. He also
explained me the customer psychology regarding Life Insurance. It has 7 different Life
insurance policies under it which fulfils the needs of various people across the country.
1-IndiaFirst Life Wealth Maximizer Plan
 This plan chooses from multiple investment strategies and fund options
 It facilitates systematic partial withdrawals, additional benefits for paying timely

premium, tax benefits, choosing policy term, switch between asset classes, multiple
premium payment options, life cover.
 Minimum entry age is 5 years and maximum entry age is 55 years (in case of
premium paying term of 5 years), 65 years (in case of premium paying term of
10,15,20 years) and 65 years in case of Single/ regular premium
 Minimum maturity age is 18 years and maximum maturity age is 70 years (in case of
premium paying term of 5 years) and 90 years (in case of premium paying term of
10/15/20 years and also in case of Single/regular premium)
 This plan also provides with options of single premium, limited premium and regular
premium.
2- IndiaFirst Simple Benefit Plan
 It provides dual benefits of Life cover and assured savings.
 It pays out guaranteed sum assured plus additional earning from bonuses on specific
events like death or maturity.
 One can start investing in this plan anytime, as it as annualised premium of as low as
Rs. 174 on monthly basis
 This policy assures you with guaranteed maturity pay-out and you can also earn
additional earnings annually and lump sum amount is also payable at death which
includes S.I plus Bonuses.
 There is also an option of availing loan at any point of time of 90 per cent of your
surrender value ,but one can avail this loan facility only after 3 years
 Tax benefits can also be availed under section 80C of Income tax act, 1961.
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3- IndiaFirst Guaranteed Retirement plan
 It provides dual benefits of Life cover and assured savings.

 It pays out guaranteed sum assured plus additional earning from bonuses on specific
events like death or maturity.
 It gives you the option to pay regular, limited or single premium.
 One can get annual bonuses in later years adding to the retirement corpus
 Tax benefits are provided on premiums paid and benefits received.
 It is also known as endowment pension plan which helps you to have prosperous
retired life.
4- IndiaFirst Money Balance Plan
 It is a Unit linked insurance plan

 It helps you to protect your money from volatility of markets, balanced portfolio as
you grow older, safeguards your loved ones, options of regular, limited or single
premiums, Tax benefits.
 This plan invests your money in a relatively safer fund which gives consistent returns
and more importantly it promises you assured life cover in case of untimely demise.
 It covers the dual needs of life insurance as well as investment for future.
5- IndiaFirst Smart Save Plan
 It is a Unit linked insurance plan

 It offers Life insurance cover and additionally helps your money to grow through
market linked instruments.
 It provides you with flexible investment options where you can choose to invest in
Equity, Debt, balanced or liquid fund
 It maximises the return through market linked investment.
 Lump sum premium is payable at death which can never be less than 105% of
premiums paid at any time.
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6- IndiaFirst Life Plan
 It is a pure Term insurance.

 It gives you a lump sum pay out on your death
 It provides the option to choose the amount of life cover, choosing the term as well as
premium, No medicals are required if insurer is in the age range of 18 to 35.
 You can choose your life cover between 1 lakh and 50 crores depending upon your
requirements.
7- IndiaFirst Maha Jeevan Plan
 It is Non-linked participating Endowment plan.

 It gives benefits of bonuses, more protection for family, tax and premium benefits.
 You can start investing anytime between 15 to 25 years.
 This plan provides with additional earnings from bonus declared.
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5 BANKING (BANK OF BARODA)
 Banks play a vital role in the economic development of a country. They accumulate
the idle savings of the people and make them available for investment. They also
create new demand deposits in the process of granting loans and purchasing
investment securities. They facilitate trade both inside and outside the country by
accepting and discounting of bills of exchange.
 Banks also increase the mobility of capital. For the past three decades, India’s
banking system has several outstanding achievements to its credit. It is no longer
confined to only the metropolitans, but has reached even to the remote corners of the
country. This is one of the reasons of India’s growth process.
 Today, the banking sector is one of the biggest service sectors in India. Availability of
quality services is vital for the well-being of the economy. The focus of banks has
shifted from customer acquisition to customer retention.
5.1- Different types of Bank accounts
1- Savings accounts
 Bank of Baroda provides 10 different types of savings account to its customers and
thereby fulfilling different needs of different customers. The 10 different savings
account offered are namely- Baroda centenary savings account, Baroda advantage
savings account, Super savings account, Baroda basic savings account, Baroda
pensioners savings bank account, Baroda salary privilege, Baroda salary Premium,
Baroda salary super, Baroda salary classic, Baroda champ account.
 Here, I have learnt that what are the different documents that I need to collect from
customers for opening saving account. I.e. Account opening form filled with details,
Proof of identity-passport, driving license, voter ID, Proof of address, PAN card, 2
latest passport size photos and send all this ahead for verification.
2- Current account
 Current accounts are most commonly used by professionals, entrepreneurs and large
and small-scale businesses. Unlike savings accounts, current accounts generally have
no transaction limits and let the holder opt for overdraft facilities.
 Bank of Baroda offers various types of current accounts to suit different customer
needs which are namely Baroda premium current account, Baroda premium current
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account Privilege, Baroda small business current account, Baroda advantage current
account.
 Here, I need to collect ID proof, Address proof, 2 Passport size photos, PAN card, and
Account opening check from existing current account holder.
3- Baroda E-trade 3 in 1 account
 Synchronized Bank, Demat & Trading Account for a seamless and safe trading
experience. Unutilized funds in your trading account are flushed back automatically in
your bank account every day ensuring your money stays in your bank account and
accrues interest.
 Here, the customer can open the account online by following simple steps of entering
mobile number, PAN number, Unique reference number, KYC details, existing saving
account number, E-signature.
4- NRI Account
 Indian banks offer its customers with NRI account.

 The NRI account basically means the account which is used to deposit funds by a
Non- Resident Indian or NRI with a financial institution authorized by the Reserve
Bank of India.
 A person who lives outside India and is an Indian citizen is called as NRO or Non-
Resident Indian.
5- NRO account
 NRO stands for Non-Resident Ordinary account.

 NRO account means Savings or fixed deposit account of a Non- resident of Indian in
any bank of India.
 The denomination of this account is in rupees, therefore, the interest earned in this
account is taxable.
 NRO account can be also be jointly opened by Indian resident as well as non- resident
Indian.
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6- FNCR account (Foreign currency Non- Resident)
 This account can be opened by a NRI or a person of Indian origin.

 This account is used by a NRI to transfer their foreign income into Indian currency.
 These accounts are opened in 6 different currencies, i.e. Pound sterling (GBP), Euro
(EUR), Japanese Yen(JPY), Australian Dollar (AUD), Canadian Dollar(CAD)
5.2- Types of Bank deposits
1-Fixed deposits
 Bank of Baroda offers several fixed deposit schemes to choose from, depending on
your chosen preferred term period (short-term or long-term).
 This range of choices makes fixed deposits a convenient option for a range of
investors, from salaried employees to self-employed professionals to senior citizens.
Apart from attractive interest rates and convenient withdrawal options, fixed deposit
accounts of BOB offer several other features such as nomination facility, overdraft
facility, outstation cheque collections, safe deposit lockers, ATMs, etc.
 Here, I was shown Fixed deposit receipt by Mr.Rangaswamy sir which had the details
of Maturity value, customer reference number, Due date, Rate of interest, Signature
etc.
2-Recurring deposits
 Bank of Baroda offers 3 varieties of recurring deposits schemes such as Baroda

Samriddhi quarterly recurring deposit, Baroda Samriddhi half yearly recurring
deposit, Flexible recurring deposit scheme yatha Shakti jama yojna.
 Here, the process of recurring deposit was explained to me by Mr.Sachin sir which
includes the requirements from customer such as Name proof, address proof. Other
details such as minimum deposit amount should be Rs.100. Recurring deposit rates
differ from the investment period starting from 180 days to 10 years.
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5.3- Account Opening Procedure
To open a Savings Account in Bank of Baroda, a customer has to adhere with following
documents and norms.
 Photo ID proof such as Driving license, Aadhar card, Passport, PAN card, Voter ID
etc needs to be submitted
 Address proof such as Driving license, Aadhar card, Voter id
 PAN card
 Form 16 (only if the customer is not having PAN card)
 2 Passport size photos
After carrying all these documents the customer has to fill up the new account opening form
where they have to enter all their details like their Name, Address, Contact number,
Photographs, Signature, Joint holder details (if any) etc. Bank of Baroda executives are
always available to guide the customers who are facing difficulties in filling up the form.
After completing this procedure, now the customer has to submit account opening form along
with KYC documents.
Now, the Bank of Baroda executives will check all the details in the form and KYC
documents and they will match all the details, if there is any mistake in the form filling than
they will inform the customer to rectify the same.
After successful opening of account, the customer has to now comply with the Minimum
balance requirements, by depositing the amount which is equal to the minimum balance. If
the customer’s account is of zero balance, then they do not have to deposit any amount as a
mandatory requirement.
5.4- Signature Verification System
 At the time of Account opening, when the customers are done with the filling of
application form, the next step is verification of those documents by Bank of Baroda
executives.
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 Here Signature verification system comes into picture, where customer’s signature is
verified online on the Finacle Banking software
 In Signature Verification system (SVS), initially the documents are scanned in
scanner or scanning related applications
 After scanning the document (photo and signature precisely), the scanned image is
than renamed by account number of that particular customer.
 This scanned image is then sent to Bank of Baroda’s branch Mail id.
 Now, the image will be uploaded in Finacle software of banking for Verification
 The signature is finally scanned and bank executive can add remarks ( if any) and
then finally submit the document on Bank’s portal.
5.5- Different Money transfer methods
1-NEFT (National Electronic Funds Transfer)
 NEFT fund transfer is a method where funds are transferred between any 2 NEFT
enabled bank accounts
 In, NEFT fund transfer, the transaction happens in half-hourly batches with 23
batches are scheduled to occur between 8 am and 7 pm on week days.
 NEFT usually takes 1-2 days for fund transfer
 The limit for NEFT is from Rs.1 to Infinite Rs.
 Bank charges are applicable on NEFT and its depends upon the amount of NEFT
 NEFT is free up to Rs. 100000 and charges depend on amount over Rs.100000.
 For NEFT the customer has to give a Cheque with duly signed slip.
 The amount is debited from the payee’s account and credited to the Pool account of
Payee bank and from that pool account the money is credit ultimately to the receivers
account.
2- RTGS (Real Time Gross Settlement)
 RTGS is an online mode of transferring money from 1 bank account to other bank
account.
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 Real time means the transaction is being processed right at the time it is made, it is
very quick.
 Gross settlement means the money gets transferred on individual transaction basis.
 RTGS is done for the amount above Rs.200000.
 In RTGS, the funds are transferred within 2 to 3 years
 Bank charges in RTGS depend upon the amount transferred.
(There is one common form to be filled for RTGS and NEFT, If the amount is less than
Rs.200000 then NEFT, otherwise it can be RTGS also if the amount is more than Rs.200000)
(Signature on RTGS and NEFT cheque should be matched with the signature of RTGS and
NEFT form; otherwise Fund transfer won’t be proceeded further)
3- Cheque transfer
 One can transfer the money from one bank account to another bank account by using
Cheque.
 Account holder just has to enter the name of the person along with the account
number in whose account they want to transfer the fund
 Cheque should be duly signed by the account holder.
 On transferring amount via cheque there is no restriction on amount, but one cannot
withdraw from than 50000 from a non-home branch.
5.6- Different Types of Loans
Bank of Baroda provides different types of Loans to its customers. Some of them are listed
and explained below.
1- Home Loan
Bank of Baroda provides home loan to its customers to help them to meet their housing
needs. The interest rates of Home loan are around 8.70%* p.a. Bank of Baroda has 11
different types of Home loan under its purview. Some of the trending home loan schemes are
mentioned below.
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A.) Baroda Home loan
 Baroda Home loan comes with special benefits for its customers. It is available for
both resident and non-resident Indians
 Interest rates varies between 8% to 9%
 Maximum Loan amount for semi-urban region is 1 crore, and for metro cities it is
between 5 crore and 10 crore
 Repayment is eased up with the repayment period of up to 30 years
 Collateral securities are required against home loans. Property can be mortgaged for
loans. In some cases insurance policies, government securities, shares and debentures
can also be accepted as collaterals.
B.) Baroda Home Advantage Loan
 The main benefit of this loan is that the Home loan is linked with Savings Bank
account.
 Here, the borrower has the option to deposit all his savings in the loan linked saving
bank account in order to avail maximum benefits on Interest of home loan.
 EMI of the Home loan would be automatically remitted from the linked saving bank
account.
 Resident and non- resident Indian both are available for this loan.
 Maximum Loan amount limit for semi-urban region is 1 crore, and for metro cities it
is between 5 crore and 10 crore
 Collateral securities are required against home loans. Property can be mortgaged for
loans. In some cases insurance policies, government securities, shares and debentures
can also be accepted as collaterals.
C.) Home Improvement Loan
 The purpose of this loan is to provide for renovations of your residence.

 The Funds from a renovation loan to not only do repairs and renovation on your
existing house or flat but also purchase new furniture, fittings and furnishings, be it
sofas or electronics.
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 This home renovation loan comes with zero pre-closure charges, minimal processing
fees and attractive interest rates.
 Group credit life insurance cover is provided due to which if the borrower dies then
his/her family does not need to repay the loan
 Maximum Tenure for this loan is 30 years and it comes with a special feature of 36
Month EMI holiday where borrower can skip EMI’s for 36 months.
D.) Pradhan Mantri Awas Yojana (PMAY)
 Pradhan Mantri Awas Yojana is a government scheme which is directed to provide

housing for all in urban areas by 2022.
 Loans are given to the family on basis of annual income and house size,
 Subsidies are provided in this scheme which helps the people with an opportunity to
purchase a house.
 PMAY scheme needs to have a beneficiary family to comprise of a husband, wife,
unmarried sons and/or unmarried daughters.
 Individuals are eligible for this loan (single or jointly), HUF’s are not eligible for
availing this loan facility.
 Eligibility criteria is for EWS( Economically weaker section): Annual household
income up to Rs 3 lakh and house size up to 30 square metres and for LIG( Low
income Group) Annual household income between Rs 3 to 6 lakh and house size up to
60 square metres.
2- Vehicle Loan
A.) Two Wheeler Loan
 Two- wheeler loan will help to purchase a new 2 wheeler and pay back the loan
amount in easy monthly instalments.
 One can avail two wheeler loan for up to Rs. 10 lakhs
 There is maximum 60 month pay-back period for the loan.
 Processing charges on bike loans are 2%
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 All the salaried employees, businessmen, professionals, farmers, staff, ex-staff are
eligible for availing this loan.
 For security purpose, the vehicle for which the loan is taken can be hypothecated.
B.) Car Loan
 Bank of Baroda Car loan can help you to purchase your dream car, with the attractive
interest rates on loan financing of up to 90%
 You can avail loan of maximum of Rs. 1 crore.
 Existing home loan borrowers having good credit history can have a concession of
0.25% on interest rate.
 As collateral, all cars financed through our auto loans are hypothecated with Bank of
Baroda. The hypothecation is removed once the borrower repays the entire loan
amount.
 All the salaried employees, businessmen, professionals, farmers, staff, ex-staff,
Directors of private and public limited company, proprietor, partners of partnership
firm, Corporates and NRI’s are eligible for availing this loan.
3- Education Loan
There are 8 different types of education loan provided by Bank of Baroda. Some of key Loan
plans from them are explained below.
A.) Baroda Vidya (for School education from nursery to XII)
 This loan is given for the school education in any recognized school. The maximum
loan granted is Rs. 4 lakhs and it is payable in 12 instalments after the disbursement
of loan.
 Key benefits of this scheme are, there are no processing and documentation charges,
No margin, No security required
 For eligibility, the student should be resident of India. Student should have taken an
admission to a recognized school/high school/Jr. College for the following courses,
Stage 1- Nursery to V Standard, Stage 2- VI to VIII standard, Stage 3- IX to XII
standard.
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 Loan is granted on the name of father/mother of the student.
 0.50% concession is provided to girl students. Penal interest is levied if the loan
amount exceeds Rs. 2 lakhs.
B.) Baroda Gyan (for higher study in India)
 This loan plan is designed for those students who are pursuing graduation, post-
graduation or any other professional course.
 The maximum loan limit for this loan is Rs. 80 lakhs for medial and aviation and 60
lakhs for all other courses.
 Key benefits of this plan are that it has no processing charges, No margin up to Rs. 4
lakhs and free debit card is also provided in this plan.
 There are 2 types of eligibility for this loan, Course eligibility and Student Eligibility.
 In course eligibility, this loan available for different courses such as graduation
courses, post-graduation, professional courses, certified courses, computer courses
and many other degree courses.
 In Student eligibility, the student should be Resident of India, should have secured
admission in institute for approved courses.
 Simple interest is charged for repayment of loan and 0.50% concession is given to girl
student.
C.) Baroda Scholar (for Study Abroad)
 This loan is given to the students who are pursuing their studies in foreign countries
for MBA, MCA, MS and other notified courses.
 To avail this loan the student must have secured admission in the particular courses.
 The maximum loan amount for specified institute is Rs. 80 lakhs and for non-
specified institute is RS. 60 lakhs.
 Key benefits of this plan are that it has no processing charges, No margin up to Rs. 4
lakhs and free debit card is also provided in this plan.
 There are 2 types of eligibility for this loan, Course eligibility and Student Eligibility.
Page 45
 In course eligibility, this loan available for different courses such as graduation
courses, post-graduation, professional courses, certified courses, computer courses
and many other degree courses as specified on Bank of Baroda website.
 In Student eligibility, the student should be Resident of India, should have secured
admission in institute for courses abroad on Merit basis.
 Simple interest is charged for repayment of loan and 0.50% concession is given to girl
student.
D.) Personal Loan
 Personal provided by Bank of Baroda is very helpful for the people to finance all their
day to day needs. It’s better than using credit cards, in personal loan you can have
exact amount of loan that is needed by you.
 Credit card bills need to be repaid on due date, but personal loan is paid over a period
of time on EMI basis.
 Maximum age to apply for personal loan is 60 years for salaried person and 65 years
for non-salaried person.
 In semi-urban areas the maximum loan amount is 5 lakhs and in urban areas the
maximum loan amount is 10 lakh.
 Processing charges levied are 2% of loan amount,
 Employees, self-employed persons, self-employed business person all are eligible for
this loan amount.
E.) Other Loans
Apart from all the above loans, Bank of Baroda also provides different loans designed for
various consumer needs. They are namely:
 Mortgage Loan
 Mudra Loan
 Debit card EMI
 Advance Against securities
 Commission Agents loan
Page 46
 Traders Loan
 Loan for Public issues/ IPO
 Advance Against Gold ornaments/ Jewellery
 Baroda Advance against Securities.
5.7- Digital facilities provided to customers
1- Instant Banking
A.) Baroda M-connect Plus
 Baroda M-connect Plus is a new mobile banking application with many new features
 This application provides you with all your account details and you can transfer the
funds online from one account to another using this application, you can recharge or
pay your phone bills, electricity bills, etc.
 You can also request special services for your bank account, you can view all your
transaction history, you can even also request cash on mobile (withdrawals) by using
this application and many more services.
B.) BHIM Baroda Pay
 BHIM Baroda pay is a UPI (Unified payment interface) application that allows you to
transfer funds to any bank account using a Virtual Payment address(VPA)
 Customer doesn’t need to remember any beneficiary details like Mobile number,
account number, IFCS code etc to send or collect money.
 Customer can send and receive money through Virtual payment address just by
setting and creating a link of application i.e. yourname@barodampay.
2- Mobile Applications
A.) Baroda mPassbook
 Baroda mPassbook is a kind of traditional bank passbook available online
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 Here, the customer can have details of his saving, current account, overdraft, loan
account details etc. all at one place.
 Customer can even download account statement from this application. 12 different
languages are also available for the ease of customer.
B.) Baroda mInvest App
 Baroda mInvest is an online application for wealth management.

 A person can simply download the app and can start investing in Baroda mutual
fund in a digital way.
 This app includes everything from KYC to investing, viewing your money and
withdrawing money in a paperless manner.
3- ME Lobby
A.) ATMs
 Bank of Baroda has a huge network of ATMs across the country, it makes is
comfortable and easy for the customers to access 24 hours banking services
 Bank of Baroda ensures that with more than 9200 ATMs, in India, an ATM is never
too far away from the customer. The cards which are accepted at Baroda ATMs are
Visa, MasterCard, NFS, JCB and UnionPay Cards.
 The different facilities available at Bank of Baroda ATMs are Cash withdrawal,
Balance inquiry, PIN change, Mini statement, Mobile banking registration, Card to
Card Fund transfer , NEFT remittance, IndiaFirst Life insurance Premium Payment,
Direct Tax payment, Gujarat Urja utility bill payment, Cheque book request, Aadhar
seeding, Green PIN facility for ATM PIN generation and Cash on Mobile.
B.) Cash Recyclers (CR’s)
 Cash recyclers are self-service machines that allow the person to make deposits and
withdrawals of money.
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 All the transactions are done in real time, the money is debited and credited instantly
in the account and the customer is also given an acknowledgement slip of the
transaction.
 Cash deposits made through debit card can be maximum of Rs.200000 per day and if
cash deposit is card-less than the limit is Rs.49999 per day.
 The machine accepts the denominations of Rs. 2000,500 and 100 notes.
C.) Self Service Passbook Printers (SSPS)
 This service helps the customer to print their passbook through a machine without any
intervention of Bank staff.
 Here, customer can print their passbook on their own by entering the passbook in the
machine.
 The machine will recognise the account details from the magnetic strip placed on the
passbook and it fetches the transaction details and prints the passbook with all the
updated transactions.
 The machine will automatically flip the passbook and print at exact location on the
paper. This service is available 24 by 7 in e-lobbies and ATM cabins.
D.) Account opening Kiosk (AOK)
 Account opening kiosk is an innovative self-service kiosk with facility of Debit card
dispensing.
 This machine facilitates the instant account opening and issuance of Non-personalised
Debit cards to its customers.
 The Photograph of customer is taken through machine and signature of customer is
obtained through Signature Pad.
4- Cards
Bank of Baroda offers different types of Cards to its customers and thereby takes a step
forward towards Digital Banking. It offers 3 types of cards i.e. Debit cards, prepaid cards,
Credit cards.
Page 49
A.) Debit Cards
Bank of Baroda offers different range of debit cards to its customers. This Debit cards
enables the customers to access various ATMs of Bank of Baroda spreaded across the
country. The different debit card offerings are listed below:
i.) Visa Electron card
 It has cash withdrawal limit of Rs.25000/- per day

 It is secured with verification
 It has shopping limits of Rs. 50000/- per day
ii.) Rupay Platinum Card
 It has cash withdrawal limit of Rs.50000 per day from ATM

 It also comes with an accidental insurance of up to Rs.200000/-
 It has 5% cash back facility on utility bill payment.
iii.) Baroda Master Platinum Card
 It is an internationally accepted credit card in the world

 It comes with the shopping limit of Rs. 100000/- per day
 It has Cash withdrawal limit of Rs. 50000/- per day
iv.) Rupay Classic Card
 It is accepted only at secured PIN based ATM machines.

 Withdrawal limit in ATM is Rs. 25000/- per day.
 Shopping limit at POS operated machines is Rs. 50000/- per day.
 It also has an accidental insurance of up to one lakh rupees.
v.) Master Classis Card
 This card has a withdrawal limit of Rs.25000/- per day.
Page 50
 Purchase limit is up to Rs.50000/- per day at POS/ E-commerce wherever mastercards
are accepted in India.
 It is secured with PIN for online transactions.
vi.) Visa Platinum Chip Card
 It is an International VISA chip debit card

 Cash withdrawal limit is Rs. 50000/- per day at ATM.
 Purchase limit is Rs. 200000 at POS operated Stores.
B.) Credit Cards
Bank of Baroda has 4 different types of Credit card offerings under it. These Credit cards
helps the customer to meet different financial needs and they can enjoy the various kinds of
benefits offered by these Credit cards. These 4 cards are explained below.
i.) Easy Credit Card
 It is a VISA platinum Easy card which comes with few benefits along with it
 Annual fees of Rs.500 are applicable on this card and they are waived off, if you have
spent Rs.35000 from your credit during the year.
 It also has an in-built insurance cover of death due to accident.
 You get 0.5% cash back on card bill payment. Zero fuel surcharge is given if you pay
for petrol through credit card.
ii.) Select Credit Card
 It is a VISA platinum select card

 Annual fees of Rs.750 are applicable on this card and they are waived off, if you have
spent Rs.70000 from your credit during the year.
 You get 1000 bonus rewards point every month.
Page 51
iii.) Premier Credit Card
 It is a VISA Signature Premier card

 Annual fees of Rs.1000 are applicable on this card and they are waived off, if you
have spent Rs.120000 from your credit during the year.
 You get 5X rewards on travel, dining and abroad; 1x on others.
iv.) Prime Credit Card
 It is a MasterCard Prime card.

 Annual fees are NIL for this card.
 It also has an in-built insurance cover of death due to accident
 1% cash back on all spends
 Guaranteed issuance against Fixed Deposit of Rs. 15000/- or more without any
income proof.
C.) Prepaid Cards
i.) Gift Card
 Baroda gift card is easy to use at merchant outlets to purchase any product of your
choice
 Gift card can be used at any location of your preference at any time.
 ATM cash withdrawal is not allowed in Gift Card.
 It is usable for purchases and payments all over India and these cards are valid for 1
year from date of purchase.
ii.) Baroda TravelEasy Card
 Baroda TravelEasy card is an international currency card which helps you to have
money with you when you travel abroad.
 This card is much better than carrying foreign currency and travellers cheque.
Page 52
 This card is available at 150 plus foreign exchange branches in India and this card can
be used to withdraw cash from ATM as well as to purchase products from more than
25 million stores displaying VISA.
iii.) Baroda Reloadable Card
 Baroda Reloadable cards can be used by the customers to withdraw cash, to

purchase products from the stores, shopping online at any VISA outlet in the
country.
 This card is issued with the minimum balance of Rs.100 in it and maximum
balance of Rs. 50000. Card is valid for 36 months after purchase
 Withdrawing Cash from this card is not permitted. Balance transfer from one card
to another card is also not allowed
Page 53
5.8- Currency Chest Department
 Currency Chest department is the place in bank where RBI keeps all the money
excess of banks under custody.
 Whenever RBI will print new currency, they will give this currency first to the
currency chest of the scheduled banks, and then this currency chest department will
issue this new currency to the banks.
 It is mandatory for the banks to maintain separate account independently of currency
chest which is monitored by RBI.
 The Prime function of RBI is to issue currency notes across the country, it has to
distribute new currency notes and recycle the old notes and keeps cash reserves of
banks and Currency chest helps RBI to perform all this functions smoothly.
 There are different machines installed in currency chest like Note counting machine,
Currency notes segregating machine etc
 This machine will automatically differentiate the currency notes into
 1.] Culls notes- Culls notes are the ones which are in the state of non-issuable, they
are spoiled currency, who colour might have faded, would be carrying ink marks,
would be toned etc. Currency chest will destroy this currency after permission of RBI.
 2.] Unfit currency notes- Unfit currency notes are the ones which are either too old in
the circulation or the colour of note might have changed due to over-use of it.
Currency chest sends withdraws these unfit notes and sends it to RBI, where RBI will
decide whether to re-issue those notes in the market or recycle it.
 3.] Fit currency notes-Fit currency notes are the ones which are issuable notes which
are issued by the banks to its customers.
 Currency chests also carry out the function of distributing bank notes and rupee coins
to other branches in the area of operation.
Page 54
5.9- Government Business and Government schemes
1-PPF Account
 A Public Provident Fund Account (PPF Account) is a saving scheme provided by

Government and it is a Tax free account till the balance reaches 150000. However, the
interest earned on PPF account is totally Tax free
 Documents required for opening a PPF account are PAN Card, ID proof, Address
proof, Photograph of account holder, Nomination form.
 PPF account can be opened by a Resident of India. No NRI’s can open PPF account.
 You have to deposit 500 Rs. Every year for maintaining PPF Account, otherwise
penalty would be charged for non-maintenance.
 Minimum 500 Rs. To maximum 150000 Rs. Can be deposited in a PPF account p.a.
 Interest Rates of PPF account is higher than interest rate of Savings Account.
 You cannot withdraw money from your PPF account before 7 years after opening the
account.
 Partial withdrawal PPF means that if you withdraw for the 1 st time after 15 years you
will get 60% of your Total Balance. For e.g. If your account balance after 15 years is
Rs.10 lakhs, then you can withdraw maximum 60% i.e. 6 lakhs rupees.
 If you want to withdraw in between of 15 years then, e.g. If you want to withdraw
money after 8 years then you will get 50% of the balance maintained at the end of 5 th
year, if you want to withdraw money after 9 years, then you will get 50% of the
balance maintained at the end of 6th year.
 This means whenever you are withdrawing before 15 years then, whenever you
withdraw you will be paid 50% of the balance maintained 3 years ago from the actual
date of withdrawal.
2- Senior Citizen Saving scheme
 This scheme is specially designed for the citizens who are more than 60 years of age
and they still make a little money through this scheme.
 This scheme is available through all certified banks and post office across India.
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 Eligibility criteria for this scheme is a person should be a senior citizen aged 60 and
above.
 A person can maximum invest Rs. 15 lakhs in this scheme, but here, the amount
invested should not exceed the amount received on retirement. So, a person can invest
the amount received on retirement or 15 lakhs, whichever is lower.
 Documents required for opening SCSS account are PAN Card, Form A, Address
proof, Senior citizen card, age proof document, 2 passport size photos.
3- Sukanya Samriddhi account
 Sukanya Samriddhi account is a government scheme which is a part of “Beti Bachao,

Beti Padhao Yojana”. This account can be opened by a parent of the girl child below
the age of 10 years.
 They can open this account for maximum of 2 girls, it cannot be opened for 3rd, 4th
girl child and so on.
 Rate of interest earned from this account is 8.5% p.a.
 Minimum amount invested in scheme is Rs.250 and maximum is 150000 p.a
 It is mandatory to invest minimum amount i.e. Rs.250 for up to 15 years from dare of
account opening.
4- Atal Pension Yojana
 This scheme is applicable for all the citizens of India whose age is between 18 to 40
years. You should have done KYC of your bank account for this scheme.
 This scheme gives guaranteed monthly pensions from Rs. 1000 to Rs. 5000 p.m.
 Government of India will also co-contribute 50% of the subscriber’s contribution or
Rs.1000 p.a, whichever is lower.
 Here, returns are earned on the basis of Age of Entry and Year of Contribution.
Page 56
6 CONCLUSIONS AND RECOMMENDATIONS
 After doing study on Mutual Funds, Life insurance and Banking sector, we can say
that these 3 sectors are major sectors in India and it is growing as rapidly as ever.
 Investors in Mutual funds considers various aspects before investing, they look for
NAV of the Mutual Fund, they track and compare the performance of the mutual fund
with other funds available in market
 Mutual fund investors look for the past performance and past returns before investing
in the scheme.
 The different Mutual fund schemes of Bank of Baroda are good for earning stable
returns, but the mutual fund performance of other private banks like HDFC, ICICI
Banks are shadowing the returns of Baroda mutual fund schemes.
 Life insurance is seen as one of the growing sector and people are taking life
insurance seriously and they are looking forward to secure their life against future
uncertainties.
 People are also taking life insurance as an investment option, where they get dual
advantage of life cover plus returns on investment.
 We can say that IndiaFirst Life Wealth Maximizer plan is a top selling life insurance
product of Bank of Baroda, as it is mixture of life cover plus wealth maximisation and
it is liked by the potential investors.
 Banking in India is evolving faster than ever before. It is led by strong economic
reforms, millennial generation of digitally evolved customers, increasing number of
people entering the banking fold, improving consumption demand and a booming
Small and Medium Enterprises (SME) industry
 Banking has been made very much convenient for the customers as wholesome of
services are provided by banks through mobile applications and hence varieties of
Services are available on the fingertips of the customers.
Page 57
7 BIBLIOGRAPHY
 https://www.bankofbaroda.com/
 https://www.investopedia.com/
 https://www.barodamf.com/
 https://www.indiafirstlife.com/
 https://www.moneycontrol.com
 https://rbi.org.in
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REPORT

A Report submitted in partial fulfilment of the

Mr. Arun Chandarana Mr.Shaibal Banerjee

This project entitled “A STUDY ON BANKING, MUTUAL FUNDS AND LIFE

I must express my gratitude towards BANK OF BARODA for giving me an opportunity to

I am highly indebted to Mr. Shaibal Banerjee, (Branch manager), Bank of Baroda,

Name: Naman Mehta Enrollment No: 18BSP0685 Specialization: Finance

Organization: “BANK OF BARODA” is an Indian Multi-national public sector Banking

Conclusion & Recommendation:

2.1- Brief Introduction of Company 13

2.3- Awards and Achievements 14

3.1- What are Mutual Funds? 15

3.2- Different types of Mutual Fund Schemes 16

3.3- What is NAV, How does it work? 18

3.4-What is suggested portfolio for investors 21

3.5- Mutual funds products offered by Bank of 22

4.1- What is Life Insurance? 29

4.2 Why is Life Insurance Important? 30

4.3- Types of Life Insurance Policies 31

5 BANKING (BANK OF BARODA) 36

5.1- Different types of Bank Accounts. 36

5.2- Types of Bank deposits 38

5.3- Account opening procedure 38

5.4- Signature Verification System 39

5.5- Different Money Transfer Methods 40

5.6- Different Types of Loans 41

5.7- Digital Facilities provided to Customers 47

5.8- Currency Chest department 54

5.9- Government Business and Government Schemes 55

6 CONCLUSION & RECOMMENDATIONS 57

As a part of my training I learnt about different activities and banking work:

 Why has it become one of the largest financial intermediaries?

1.2 PURPOSE OF THE PROJECT:

1.5 LIMITATIONS OF THE STUDY:

2.1 Brief Introduction of Company

BANK OF BARODA is an Indian Public bank which is a multi-national bank as well as

Founder of Bank of Baroda is- Maharaja Sayajirao Gaekwad III

STATE BANK OF INDIA HDFC BANK

2.3 AWARDS AND ACHEIVEMENTS

3.1 What are Mutual Funds?

A.) Schemes Based on Maturity Period

1. Open Ended Schemes

2. Close Ended Schemes

B.) Schemes Based on Investment Objective

 Objective of these schemes is to appreciate your capital in Medium to Long term.

 It focuses on providing steady and regular income to the investors.

4. Money Market/ Liquid Schemes

5. Equity Linked Saving Schemes (ELSS)/ Tax Saving Schemes

7. Exchange Traded Funds (ETFs)

9. Gold Exchange Traded Funds (GETFs)

10. Quantitative Funds

 Investment is done in the funds after doing quantitative analysis.

11. Funds Investing abroad

12. Funds of Funds (FOFs)

3.3 What is NAV, How does is Works?

How does it work?

Example for understanding the concept:

I.e. Net Assets/ No. of units issued = 200/10= 20 Rs

Difference between NAV and Stock price

NAV Stock Price

Suppose you invest in two mutual fund Scheme X and Scheme Y.

Suppose Scheme X has a NAV of Rs. 10

Scheme Y has a NAV of Rs. 50