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SUMMER INTERNSHIP PROJECT REPORT

On
Growth of Digital Payment in India
22 May, 2023 – 22 June, 2023

Submitted for the partial fulfilment for the award of

degree of

MASTER OF BUSINESS ADMINISTRATION

2022 – 2024

Submitted By:

Rohit Makwana

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INDEX

 Declaration 3
 Acknowledgement 4
 Faculty Certificate 5
 Certificate of Completion 6
1. Company Profile 7-12
2. Industry Profile 13-14
3. Introduction to the project 15-25
4. Objectives of the study 26
5. Roles and Responsibilities 27
6. Findings 28-29
7. Learnings 30
 Conclusions 31-32

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DECLARATION

I, Rohit Makwana – the student of B. K. School of Professional and

Management Studies, Ahmedabad, affiliated to Gujarat University,
hereby declare that the project report on “Growth of digital
payment in india” studied under guidance of DR.MAMTA
BRAHMABHATT. is a result of culmination of my sincere efforts,
under the proper guidance of my mentor and faculties.

I hereby declare that this submitted report work is done solely by

me and it is the best of my knowledge and abilities. No such work
has been submitted by any other person. It has not been published
anywhere until the date mentioned in the project and is prepared
during and after the completion of the Summer Internship Program
with “Outlook magazine.”.

Name: Shagun Jaiswal

Place: Lucknow
Date: 07/12/2022

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ACKNOWLEDGEMENT

I would like to express my heartfelt gratitude to B K School of

Professional and Management Studies and Angel One Ltd for
giving me a great opportunity. During the Summer Internship in
these 2 months, I learned a lot of things that have given me chance
to implement my knowledge in real-life situations and exposure to
the corporate world.

I am thankful to my mentor faculty. Professor Dr. Mamta

Brahmabhatt of B.K School of Professional and Management
Studies for continuous guidance and support during the internship.

Thank You,
Rohit Makwana
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FACULTY CERTIFICATE
This is to certify that Mr.Rohit Makwana (122050), A student of Full
Time MBA GIA (2022-2024) at B K School of Professional and
Management Studies, Gujarat University, Ahmedabad has
prepared a Summer Internship Report on “Growth of digital
payment in india” in partial fulfilment of two-year full-time MBA
program of Gujarat University. This project work has been
undertaken under the guidance of Dr.Mamta Brahmabhatt,
Professor at B K School of Professional and Management Studies,
Gujarat University, Ahmedabad and found satisfactory.

Dr.Mamta Brahmabhatt Date:

Professor
BKSPMS
Gujarat University

Signture :
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CERTIFICATE OF COMPLETION
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EXECUTIVE SUMMARY

The final report is a summary of the completion of the Summer

Internship Program 2023. Theories that are taught in the classroom
give us a fair knowledge about the dealing of real-life working .

This study examined Growth of digital payment in India. It analyzes

the key drivers, including technological advancements,
government initiatives, and the rise of fintech. The research
highlights the transformative impact of UPI, mobile wallets, and QR
code payments.

However, It emphasizes the role of digital payments in promoting

financial inclusion, supporting e-commerce, and fostering a
cashless economy. The findings underscore the importance of
trust, security, and continued innovation to sustain this upward
trajectory in India's digital payment landscape.

My study is to know about the Growth of digital payment in India.

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Ch INDEX Page
No.

TITLE PAGE

DECLARATION

ACKNOWLEDGEMENT

FACULTY CERTIFICATE

CERTIFICATE OF COMPLETION

EXECUTIVE SUMMARY

INDUSTRY OVERVIEW
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INDUSTRY OVERVIEW
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COMPANY PROFILE

Outlook is a weekly general-interest English and Hindi news

magazine published in India. Outlook magazine is owned by the
Rajan Raheja Group.

The Outlook magazine was first issued in October 1995 with Vinod
Mehta as the editor in chief and ace marketer Dilip Shourie to
market it. Mr. Vinod Mehta was a journalist, editor, and political
commentator, he was editor in chief of Outlook Group from 1995
to 2012. After Mr. Vinod Mehta, it was Mr. Krishna Prasad who was
editor in chief of news magazine Outlook until 2016.

Mr. Ruben Banerjee is the current editor-in-chief of the news

magazine Outlook Prior to this Mr. Banerjee was the National Affairs
Editor of Hindustan Times. A journalist with more than three
decades of experience, he had previously worked with Al Jazeera,
India Today, and Indian Express.

The Outlook Group's headquarters is located at Safdarjung Enclave,

New Delhi. Outlook Group have an office in Mumbai, Kolkata,
Chennai, Bangalore, and Hyderabad.

The publisher is Outlook Publishing (India) Pvt. Ltd.

The Outlook Group is a leading name in the print industry and is the
Publisher of titles namely

 OUTLOOK WEEKLY

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 OUTLOOK BUSINESS

 OUTLOOK TRAVELLER

 OUTLOOK HINDI

 OUTLOOK MONEY

Outlook magazines feature content from politics, sports, cinema, and

stories of broad interests. By December 2018. Outlook magazine's
Facebook following had grown to over 12 lakh (1.2 million)

Outlook is considered as India's most vibrant current affairs and

news magazine; it is well known for its bold and aggressive
reporting. From the launch of the magazine, it is known for raising
questions many had in their minds but never dared to ask.

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Mission & Vision

MISSION OF THE COMPANY

 To be the largest and the most profitable Magazine Publisher

in India.

VISION OF THE COMPANY

 Leadership through empowering individual thought.

THE VALUES OF COMPANY

 Integrity

 Teamwork

 High Achievement

 Service Excellence

 Building Shareholder wealth

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Company Products
Outlook Weekly: Outlook, India's most exciting weekly news
magazine covers the entire spectrum of issues from current affairs,
business, sports, lifestyle, technology, international affairs etc.
Outlook gives you a holistic picture, insightful analysis and fresh
perspective galvanized a sluggish market reeling under the impact of
satellite TV. Outlook quickly carved a significant niche for itself
among discerning readers who value its in-depth, investigative
reporting as well as its stylish visual format. Known to be fiercely
independent. Today, Outlook is the preferred magazine of 1.5 million
readers in India, and sells more than 11.2 million copies over the
year.

Outlook Hindi: Outlook Hindi, a weekly newsmagazine, was launched

in October 2002 to establish significant presence amongst the vast
Hindi reading audience. The product targets the evolved Hindi reader
keeping their interests, realities & aspirations in mind. Outlook
Saptahik retains the core strengths of Outlook with objective, fiercely
impartial and bold journalism, while brandishing its own identity
through a strong parallel editorial. The magazine is empathetic to its
target audience & is not a translation of its English counterpart.

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Outlook Traveller: Outlook Traveller is India's No. 1 Travel Magazine.

This is a monthly magazine which covers domestic & international
tourism, getaways, cuisines and holiday planning. Every month since
June 2001 Outlook Traveller has introduced readers to the wonders
of unknown destinations while also encouraging travellers to take a
fresh look at familiar places. Whether people are planning a holiday,
or simply dreaming of one. Outlook Traveller continues to take them
closer.

OUTLOOK BUSINESS: Another magazine by Outlook which covers the

business news, interviews of business tycoons, the new jobs in
offerings. This magazine is most preferred by Business Schools,
business professionals, businessman etc. This is fortnightly magazine
by Outlook. OUTLOOK Business, in the true tradition of the OUTLOOK
group, has as its aim no less an objective than the complete rewrite
of what has been tried by the way of business journalism in the
magazine space.
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Outlook Money: In July 1998, the Group launched "Intelligent

Investor" re-christened as "OUTLOOK MONEY" as of 30-Nov-2002,
India's first personal finance magazine, which offers sound strategies
for the lay investor, especially the growing segment of salaried
middle and upper middle-class and self-employed professionals. Its
message is clear and simple: 'Invest well, borrow wisely, spend
smartly'. Evidently, that message has gone down well; the magazine
sold upwards of 1, 00,000 copies a fortnight within a year.

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INDUSTRY PROFILE

Printing and Print – Packaging industry in India is growing; people are

taking keen interest in this key industry now. There are more than 36
printing institutes some of these giving even post-graduate
education. Every year more than 3500 new printing engineering
graduates joins the industry, while still much more get on the spot
training in the print shops.

Printing especially Packaging printing is now one of the industries. It

is said that since 1989 the growth of the Printing coupled with
Packaging Printing industry is over 14%.

The growth of this sector attributes to the two main reasons, first is
the spread of education- according to the 2001 census report literacy
growth in India touched nearly 66 per cent.

This amazing growth in literacy together with rising educational

levels and rapidly progressing trade and industry in India make the
current situation a happy note. Literacy rate is growing; increase in
the literacy rate has direct positive effect on the rise of the
circulation of the regional papers.

India has 49,000 publications, but annual revenues total just $1.1
billion. While they can be vibrant and gutsy, most are starved for
technology, marketing, and capital to expand. So, a handful of
publications dominate.

Today, India is fast becoming one of the major print producers &
manufacture of printed paper products for the world markets. The
quality standards have improved dramatically and immense
production capacities have been created.
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Some printers have won recognition by winning prizes at

international competition for excellence in printing. The current
annual turnover of all the components in the Indian printing industry
are more than Rs. 50,000 crores.

The Indian Printing Industry, growing at a rate of 12% per annum,

comprises more than 250,000 printing companies. The current
annual turnover of is more than INR 50,000 crores (US$11 Billion).
India is the country with largest number of printing presses in the
world (Europe: 1.18 lakh, China: 1.13 lakh, USA: 50,000, Japan:
45,000, Korea: 42,000 and Australia: 40,000).

India with approx. 25 lakh employees is second only to China (30.25

lakh) so far as the number of employees in printing sector is
concerned. Employees and number of printing companies are
decreasing by 6 per cent world over, including China, whereas in
India it is progressing at 5.2 per cent annually.

Currently printing sector is all set to become booming in India due to

available technology, resource at a very economical cost. Also,
government is encouraging foreign direct investment into this
sector. Lot of MNC's are expected to invest in this sector due to
favourable working conditions.

There are numerous jobs are expected in this industry due to overall
growing percentage of 12% per annum. World-wide, the annual
revenue of the printing industry is over $600 Billion. The United
States accounts the major share for over 25% of this business, at
$160-Billion a year.

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INTRODUCTION
The period of internship was divided into two tasks –

Task 1: Product Learning

Task 2: For Finance Domain-

 Investment Analysis
 Mutual Fund Analysis
 Payment Gateway Analysis
 Financial Market Analysis

Task 1- Product Learning (Selling of subscription of

magazines- in total there are 5 magazines)

• Basically, the first task was all about product learning where
the interns have to first understand the product i.e., the 5
magazines (Outlook Weekly, Outlook Traveller, Outlook
Business, Outlook Money, Outlook Hindi) and thereafter sell
the magazines and generate revenues.
• To do the sale we were asked to understand our target
market, then further do segmentation and accordingly do the
sale.
• We had to do sale in our network only.
• Each intern had to sell outlook magazines subscription
Minimum target given Rs.7000 and Maximum of Rs.15000 and
more. Sold magazine subscription worth Rs 15000 and they got
Certificate of Excellence from the organization.
• Evaluation weightage was 60% (Task 1) and 40% for Finance
Domain Task (Task 2).

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Discounted Exclusive Website for Customers:

https://subscription.outlookindia.com/newoffer/kj.html?vouchercod
e=WFHE125940

About Knowledge Jockey - Knowledge jockey is an account given to

every sales person in the sales team. This account carries the
information about the number of sales converted and commission
earned through sales generated. It also shows the unsuccessful
transaction and number of mails sent and all the details of the

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subscribers who subscribe through that particular KJ (knowledge

Jockey).
Work done in different phases

Phase 1: Product Training and Knowledge

Overview of all the magazines of Outlook India group in detail was

provided to us. This helped us know how one magazine distinguishes
from the other, in terms of features, content, readership, and
circulation.

Since outlook is a print media; we get to know how a print media

works, how promotional and discount schemes play an effective role
in sales and marketing.

We were provided with the detailed information on the different

promotional schemes i.e., free gift in 1 bag, stroll bags, digital
subscription, guide books etc.) and discounts provided by the
company.

Phase 2: Calling

During these 2 months, we did the calling only our leads.

We had to call them and pitch the offers according to the type of
client for the subscription

Phase 3: Generation of sales

If the customer is interested in any of the offers, assisting them for

the payment. The payment could be done through online medium.
The online medium comprises of the options are:

Credit card, Debit card, Net banking, Cash wallets, RTGS

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Figure: Knowledge jockey window containing the KJcode and

summary of the transaction through a particular Knowledge jockey
Id.

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Task 2- Investment Analysis

Research Objective

• To analyse the investment pattern of the people.

• To understand the objective as well as risk appetite of
Investors.

Research Methodology

Data Analysis and Interpretation

Income Profile of Investors

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Savings as a percentage of Income

Factors affecting Investment Decisions

Investment Objective

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Pattern Of Investment
Shares & Debentures

29.79 29.79 Government Bond and

Securities
Gold & Silver

9.57 7.45
Crypto Currency
7.45 15.96
Real Estate

Fixed Deposit

Demat Account

Frequency of Monitoring Portfolio

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Source Of Information

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Task 3-Mutual Fund Analysis

In this task we research about mutual fund.
• To study in detail the mutual funds available in India.
• To devise an appropriate mutual fund portfolio taking into
consideration the risk and returns associated with the
respective funds.
Outcome:
• The portfolio is planned for an investor with moderate risk
appetite, who has a long-term risk horizon.
• Equity and debt funds are allocated in a ratio of 75:25 in the
portfolio.

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Task 4-Payment Gateway Analysis

In this task included us to conduct research on the current payment

gateways in India and know the current trends on the mode of
payment. This was done by spreading a google form across and
people and collecting responses. On the basis of response, we all
analyzed the data and came to a certain conclusion.
• Gain an insight on the different payment gateway options
available online like PayPal, stripe, payline, razorpay, etc.
• Developed an understanding on the benefits and limitations
of each option available.
• As per a self-conducted survey on 60 respondents, nearly 80%
people use online mode of payment methods and the other
20% still use offline modes of payment.

Payment Mode

22.03

Offline

77.97 Online

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Task 5-Financial Market Analysis

In this task comprised of doing an analysis on Russia and Ukraine

War scenario on the economic front on how it affected the current
scenario and how it will do in the future. A report was submitted on
the same.

Learnt about the five key components of financial markets-

(i) The debt market;
(ii) The equity Market;
(iii) Foreign Exchange market;
(iv) The Mortgage market and
(v) Derivatives market

Studied the impact of Covid 19 and Russia Ukraine war on global

financial markets.

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OBJECTIVES
 To sell the magazines through my family and friends.

 To perform investment and mutual fund analysis to provide

the relevant data for the Outlook magazine.

 To make interns acquainted with the product, product

mix, opportunities and challenges associated with the
Outlook Magazines,

 To train interns on how to make a good sales pitch.

 To analyse the investment pattern of the people and

understand the objective as well as risk appetite of Investors.

 To study in detail the mutual funds available in India.

 To devise an appropriate mutual fund portfolio taking into

consideration the risk and returns associated with the
respective funds.

 To conduct research on the current payment gateways in India

and know the current trends on the mode of payment.

 The task comprised of doing an analysis on Russia and

Ukraine War scenario on the economic front on how it
affected the current scenario and how it will do in the future.

 To get hands-on experience of the real-world organization.

 To test our convincing and communication skills.

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ROLES AND RESPONSIBILITIES

 Each intern had to sell outlook magazines subscription
worth Rs7000 (minimum) to complete the task.

 We had to do literature review, develop questionnaire,

collect data through survey and then analyse it in order to do
a study on investment pattern of people.

 For third task, we were responsible for ascertaining risk

appetite of a particular person and devising an investment
strategy as per the risk profile.

 We were responsible to do a survey on available payment

modes in India.

 Our role was to study in detail the effects of an international

political crises in the globalized world.

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FINDINGS
 Acquired 12 new clients for the organization.

 Sold magazine subscription worth Rs 15000 and got certificate

of excellence from the organization.

 As per the survey on the investment pattern of people, 53.54%

people save less than 20% of their income. 32.20% people save
between 20% to 40% and rest 15% save more than 40% of their
income. Majority of the investor’s objective is long term
growth (35.59%). Only 10.17% respondents said their goal is
short term.

 38.98% respondent said, safety of the principal is most

important factor they consider before investing whereas
maturity period is the least important factor. About 30% of
the investors prefer Share and debentures as a reliable source
of investment and equally other 30% approx. prefer Fixed
Deposits. Other than that, 9.57% investors prefer real estate
and 15.96% in Gold and Silver. A new trend is emerging, as a
considerable percentage of investors (7.45 %) consider
cryptocurrency as a preferable avenue of investment.

 As per the survey, 33.90% people review their portfolio daily,

37.29% monthly and rest 28.81% people review their
investments monthly. 45.76% of investors own a demat
account whereas other 54.24% still use other modes to
invest their money.

 Majority of the investors (nearly 32%) said they rely on

their friends and relatives for investment advices, 25.42%
use TV,

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magazines and similar resources to understand the investment

avenues whereas nearly 14% said they take professional
advice from brokers or advisers.

 The portfolio is planned for an investor with moderate risk

appetite, who has a long-term risk horizon.

 Equity and debt funds are allocated in a ratio of 75:25 in the

portfolio.

 After the Covid pandemic, people have started using online

payment modes more excessively as they find it convenient.
The reputed sites are used by most of the people as they find it
secure.
But a lot of people mentioned, the issues like stuck payment as
well as they were fearful of the growing financial frauds online.

 Russia-Ukraine War has highly impacted the food and energy

markets. The energy prices have risen sharply for EU members
as they are highly dependent on Russia for the same. The joint
effect of covid and then Russia-Ukraine war has pushed several
EU countries on the verge of recession and economic crises.

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LEARNINGS
As this internship provides me an opportunity to apply my
theoretical knowledge practically. During this internship I learn some
new skills and also got to know something more about those skills
which I know already.

 About sales pattern of Outlook India publishing private limited.

 Creation of Reports and Dashboards.

 Practical experience of Cooperate Culture.

 Communication and presentation skills.

 Learnt how to make an effective sales pitch.

 Understood the product of outlook group and their

target market.

 Learnt how to conduct research conduct through data

collection from primary sources and draw
conclusions.

 Learnt about various categories of mutual funds offered by

AMCs.

 Gain an understanding of how to select mutual funds

taking into consideration risk and returns of the same.

 Gain an insight on the different payment gateway options

available online and the usage pattern of same by customers.

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 Learnt the ripple effect of conflicts between two nations on the

world as well as the economic cost of a war.

CONCLUSIONS
 Majority of people save less than 20% of their income in India.
There is a need to make people aware of the benefits of savings
as savings affect investments and in turn investments result
into growth of the economy.

 Majority of investors preferred safety over returns. This

means most of the people are either risk averse or risk
neutral.

 Cryptocurrencies are the riskier but attractive option for new

investors.

 To conclude, in India, still majority of people are unaware

of the benefits of Equity and debt markets, as well as crypto
currencies. Most of the investors do not have access to
professional advisory. There is a huge untapped market for
brokers, AMCs, etc.

 As people are relying on online payment options more, e-

commerce companies, payment gateway service providers
as well as regulators should work in tandem to make process
hassle free and prevent online frauds.

 In India, still close to 55% of the educated people do not have a

demat account. Also, even the people with demat account do
not go for professional advice.

 Income of people is a major factor that determines their

risk appetite. As, in our survey, approx. 60% of people earn
less than 2 Lakhs per annum, they do not have the capacity
to invest in market securities like shares.

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 About 45% people invest in equity markets or Cryptocurrencies.

This means a whopping 55% people are still investing in
traditional avenues.

 There is a huge untapped investors pool out there, unaware

of the benefits of newer investment options.

 In the highly globalized world, each country is connected.

The war in one part of world effects the whole globe directly
or indirectly and both economically and politically.

 The countries should not be heavily dependent on a single

country for products of importance and diversify their
business relations.

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