INTRODUCTION

Macro-economic summary : Favourable global financial conditions will continue to foster a US-led recovery in 2004-05.The US ex ansion a ears to have reached a self-sustaining stage! with labour de"and li#ely to rise substantially in co"ing $uarters. The "ediu"-ter" challenges osed by the global external ad%ust"ent are li#ely to be associated with a si&able decline of the US dollar versus "ost currencies! es ecially those in e"erging 'sia. (ac# ho"e! the continuation of growth drivers ) infrastructure and retail lending ) bodes well for the *ndian econo"y. Strong agriculture out ut is ex ected to lead to +,- growth crossing ./ in F0041. *nfrastucture s ending! led by road construction ! has been one of the #ey drivers of growth in the last 23 "onths. This has benefited sectors such as ce"ent! steel and construction e$ui "ent as well as generated e" loy"ent o ortunities . 4hile we ex ect structural interest rates to co"e off further in 2004! bonds yields are li#ely to be range-bound this year. The 20-year old +5*! which is currently trading at 5.25/ levels! is li#ely to trade in the 67- 50 b s range. 8i$uidity is li#ely to re"ain the #ey driver for bonds in 2004. *nflation as "easured by the 4holesale -rice *ndex 94-*:! has been on the u trend on the last cou le of "onths. This is due to an increase in all the three co" onents of the index ri"ary articles! fuel and "anufactured goods. ;owever! the rise will be artially offset by lower rices of ri"ary roducts ) a result of the 200<=s bu" er harvest. *ndia=s forex reserves exceed US>200bn.'s we do not ex ect any theats to the #ey drivers of reserves! we believe the accretion in reserves will also continue in 2004. ?a ital flows re"ain strong! reaching US>22.@bn during ' r-Se 9US>5.2bn: and other ca ital including ban#ing ca ital 9US>4.<bn:. 0< vs.

US>4.<bn in ' r-Se 02.Aain drivers of ca ital flows include foreign invest"ent

THE EXPERTS AND THE EXPERTISE

These days it has beco"e increasingly difficult to "a#e one=s "oney wor# hard. +iven today=s un redictable "ar#et scenario and fluctuating inflation values the world over! it beco"es even tougher to find the right invest"ent for the hard earned "oney. *nvest"ents that will guarantee high returns in the long run ;owever! ?itiban# *nvest"ent Services has co"e u with o tions to hel its clients identify the best invest"ents based on their ris# rofile. *t also hel s the" to balance their wealth to counter fluctuating "ar#ets.

Planned in es!men!s "or#

*nvest"ent without a lan is si"ilar to not #nowing where one=s heading .-lanning "ay be a laborious rocess but it can revent one fro" investing frivolously. The habit of fli ing in and out of invest"ents should be done away with. 5ne should also #ee a trac# of ones taxes! and "aintain tabs on the "oney. The "ost i" ortant thing to re"e"ber is to set goals and stic# to the" ! avoid co" lacency at all costs. Setting financial goals not %ust about saving "oney B its also about changing ones invest"ent habits and doing new things. Ci!i$an# In es!men! Ser ices o%%ers e&clusi e %acili!ies and ser ices : ?ertified *nvest"ent ?ounsellors C These ex erts hel the clients in lanning the invest"ents that suit their needs. They identify suitable invest"ents after carefully identifying their invest"ent rofile and a co" rehensive analysis of their invest"ent ca acity and the ris# a etite Degular U dates C ?lients receive daily u dates on their invest"ents alongwith regular "ar#et u dates.

?onvenience C ?lients can subscribe or redee"! set-u a Degular *nvest"ent Sche"e! view their ortfolios on ?itiban# 5nline! transact over ?iti-hone and receive ?iti'lerts on their transactions! all in real ti"e .

1asy li$uidity CDede" tion roceeds are credited into the accounts directly within 43 wor#ing hours. 'll dividends are also transferred directly into their account so that they never have to visit the ban#.

Euality Desearch

C 1ach fund and the res ective "ar#ets are continuously

"onietered to rovide the investors with regular "ar#et insights. The ?itichoice analysis a shortlist of consistently better erfor"ing funds. Fareity of *nvest"ent 5 tions C The custo"ers can choose fro" a variety of o tions including T.(ills! Delief (onds! ?or orate (onds! "utual funds and structured deals.

?itiban# is a "e"ber co" any of ?itigrou ! the largest and the "ost diversified rovider of financial services in the world. *n *ndia! with its @.year history! ?itiban# has co"e to be ac#nowledged as one of the leading international ban#s in the country with a trac# record of outstanding business "ilestones. *t is regarded as a ioneer in consu"er ban#ing! being the first to introduce focussed consu"er leading rogra"s. *tGs history of firsts also extends to electronic ban#ing where they have "ade significant invest"ents in technology. ?itiban# is the largest issuer of credit cards in *ndia! with one "illion cardholders.
?itigrou *nc.! todayGs re-e"inent financial services co" any! with so"e 200 "illion custo"er accounts in "ore than 200 countries! dates bac# to the history of ?itiban#! which began in 2322B Travelers 8ife H 'nnuity! since 23I4B S"ith (arney!

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founded in 23.<B (ana"ex! for"ed in 2334 as a result of the "erger of (anco Jacional Aexicano and (anco Aercantil AexicanoB and Salo"on (rothers! which dates bac# to 2@20 and later "erged with S"ith (arney! a subsidiary of Travelers +rou at the ti"e. 5ther "a%or brand na"es under ?itigrou Gs trade"ar# red u"brella include ?iti ?ards! ?itiFinancial! ?itiAortgage! ?iti*nsurance! -ri"erica! ,iners ?lub! ?itigrou 'sset Aanage"ent! The ?itigrou -rivate (an# and ?iti?a ital.

The ti"eline below re resents the history of this business until it beca"e a art of the ?itigrou fa"ily. 5n Kune 2I! 2322! with >2 "illion of ca ital! ?ity (an# of Jew 0or# 9now ?itiban#: o ened for business in Jew 0or# ?ity. Through "any different leaders and econo"ic environ"ents over the course of its rich history! ?itiban# continues to grow and ros er. *n 2@I3! First Jational ?ity ?or oration 9later rena"ed ?iticor :! a ban# holding co" any! beca"e the arent of ?itiban#. *n 2@@3! all ?iticor divisions "erged with all divisions of Travelers +rou to for" ?itigrou *nc. ?itiban# continues as a strong brand under the ?itigrou u"brella. '(') Kune 2IC Jew 0or# State charters ?ity (an# of Jew 0or# with authori&ed ca ital of >2 "illion and aidin ca ital of >300!000.

'**+ ;as largest nu"ber of credit cards in 'sia. Taiwan beco"es the first country outside the U.S. with over 2 "illion credit cards.

'**( 5ctober 3C 'll ?iticor and Travelers +rou divisions "erge to beco"e ?itigrou *nc. ?itigrou o ened its first office in *ndia in 2@02. Since then it has beco"e one of *ndiaGs "ost diverse and recogni&ed financial service branches across 23 cities. ?itigrou o erations enco" ass a roviders o erating in 25 offices and *ndia has 5!000 e" loyees nationwide. 5ur

re"ier global cor orate and invest"ent ban# and a wellrovides a co" rehensive range of financial

established consu"er business under the ?itiban# and ?itiFinancial brands. The global cor orate and invest"ent ban#ing grou services including treasury "anage"ent! transaction services! securities custodianshi ! foreign exchange! fixed inco"e and e$uities sales and trading! and cor orate finance to cor orate clients! govern"ents and financial institutions. ?itiban# *ndia is the countryGs leading retail ban# with a history of innovation and custo"er service. Today we are the largest issuer of credit cards and offer "ortgages! ersonal loans! insurance! and invest"ent services for on-shore custo"ers. ?itiban# *ndia also rovides ban#ing services to the international *ndian co""unity in 2< cities around the world.

Bank CITIBANK

13.3 16.7 16.7 26.7

36.7

STANDARD CHARTERED AMERICAN EXPRESS BANK HSBC ABN-AMRO BANK

?itigrou senior "anage"ent believes that the co" any will grow faster and create "ore o ortunities for our clients! shareholders! fa"ilies! and co""unities if we have a co""on focus and consistent rinci les throughout the co" any

Produc!s L ?ertificates of ,e osit 9?,: L ?hec#ing L Savings L 'TA7,ebit ?ards L ?redit ?ards L *D's and Dollovers L *nsurance L *nvesting L 8ines H 8oans L Aortgages L -ricing -ac#ages L S"all (usiness L S ecial Delationshi 'ccounts

Ser ices L (ills H -ay"ents L ?itiban# en 1s aMol L ?itiN *dentity Theft Solutions L ?iti ro Financial ?hec#-u L ,e osit Aethods L 1-Aail H 4ireless (an#ing 'lerts L Transfer Aoney L 8in#ing 'ccounts L Ay 'ccounts 'ggregation L Ay ?iti L 5nline 'ccount 'ccess L 5nline (an# State"ents L 5nline ?hec# *"ages L 5verdraft -rotection L Safe4eb 5nline Fraud -rotection L 4ays to (an#

For financial re orting and internal o erational ur oses! ?itigrou is largely organi&ed into five grou sC ?itigrou +lobal ?onsu"er +rou ! the +lobal ?or orate and *nvest"ent (an#ing +rou ! ?itigrou +lobal *nvest"ent Aanage"ent! ?itigrou *nternational! and S"ith (arney.

For the ur oses of $uarterly and year-end earnings re orts! ?itigrou *nternational results are divided between the +lobal ?onsu"er +rou and ?itigrou Gs +lobal ?or orate and *nvest"ent (an#ing +rou ! de ending on the nature of the business activities. (elow are brief descri tions of "any of the "ost significant business activities found within each grou .

Ci!i,rou- .lo$al Consumer .rouThe ?itigrou +lobal ?onsu"er +rou businesses co" rise the financial service sector=s "ost diverse consu"er roduct offerings O ban#ing services! credit cards! loans and insurance. 5ur businesses also offer industry-leading advanced technology! a strong worldwide resence and a owerful global franchise in ?itiban#.

Ci!i$an#in, (an#ing! lending and invest"ent services to individual consu"ers and s"all businesses! with u to >20 "illion in annual sales.

Cards ?redit and charge cards such as Aaster?ardN! F*S'N! and rivate label.

Ci!iCa-i!al 4e rovide truc#! construction! "aterial handling! healthcare and office finance! as well as franchise and "unici al finance. e$ui "ent

Ci!i/inancial ?onsu"er finance and co""unity-based lending services across Jorth '"erica!

1uro e! and Ka an.

Primerica /inancial Ser ices Aore than 200!000 full- and art-ti"e re resentatives who hel financial futures and resolve challenges along the way. eo le lan their

.lo$al Cor-ora!e and In es!men! 0an#in, .rouThe +lobal ?or orate and *nvest"ent (an#ing +rou has e"erged as the re"ier organi&ation for "eeting all the financial services needs of cor orations! govern"ents! and institutional and individual investors around the globe.

.lo$al E1ui!ies ?itiban# rovides world-class global e$uity ca abilities for cor orate! institutional and retail investors through our do"inant e$uity sales and trading latfor"! industry-leading +lobal 1$uity Desearch ca abilities! to -tier institutional distribution ca abilities and the second-largest retail bro#erage networ# in the U.S.

.lo$al /i&ed Income ?itiban# is a global leader in Fixed *nco"e underwriting! structuring! sales and trading across all asset classes! including cor orate! govern"ent and agency bonds! asset-bac#ed and "ortgage-bac#ed securities! syndicated loans! structured and futures roducts. +lobal Fixed *nco"e also enco" asses Foreign 1xchange and Futures.

Ay citi gives access to accounts and services rovided by ?itiban# and its affiliates. (ro#erage services and securities transactions are through ?iticor *nvest"ent Services!"e"ber J'S, logo is a service "ar# of ?iticor . Ac2ie emen!s o% Ci!i$an#

Cards- 4orld=s largest rovider of credit cards -First Euarter G04 Jet *nco"e of >@30 "illion Consumer /inance -4orld=s consu"er finance leader -First Euarter G04 Jet *nco"e of >5I. "illion Re!ail 0an#in, -?itiban#C highest-rated! leading global brand -First Euarter G04 Jet *nco"e of >2.222 billion Ca-i!al Mar#e!s 3 0an#in, -P2 underwriter of ?o"bined ,ebt and 1$uity and 1$uity-related transactions -First Euarter G04 Jet *nco"e of >2.4.. billion .lo$al Transac!ion Ser ices -8eading rovider of transaction roductsB >I.I trillion in assets under custody -First Euarter G04 Jet *nco"e of >2<4 "illion 4i%e Insurance 3 Annui!ies -5ne of the fastest growing life insurers in the U.S with ex anding international *nco"e of >23. "illion Pri a!e 0an# -5ffers widest range of services to "ore than 25!000 of the world=s "ost successful and influential fa"ilies -First Euarter G04 Jet *nco"e of >25@ "illion Pri a!e Clien! Ser ices -' leader in "anaged accounts with >2.03. trillion in total client assets -First Euarter G04 Jet *nco"e of >252 "illion resence -First Euarter G04 Jet

Se,men!a!ion o% !2e ci!i,old -roduc!

?*T('JQ J ' has divided the client base into 4 categories C 2. ?itigold 'ccounts 2. (usiness -referred

<. ?ity (lue 9core accounts: 4. S' 50# ?itigold and (usiness -referred are given ro"inence. ?itigold 'ccounts re$uires a "ini"u" balance of Ds. <0 8acs which is inclusive of Saving 'ccount 6 Ti"e ,e osits 6 ?urrent 'ccounts. *n case of (usiness -referred the "ini"u" balance should be Ds 20 8acs but only in the ?urrent 'ccount.For the ?it (lue or the core accounts!the "ini"u" balance should be Ds 2 8ac.These 'ccounts are the nor"al Saving 'ccounts.The S' 50#- Saving 'ccount 50!0007- here the "ini"u" balance re$uired is 50!0007-!but the incu"bent will not have access to any of the branches but only to the 'TAs. ?*T*('JQ J ' has 5 Delationshi Aanagers 9DA:!each of who have a ortfolio that have a "ix of ?ore 'ccount! (usiness -referred! +old 'ccounts and S' 50#.These Delationshi Aanagers have to ursue the client for the business. This could be selling Autual Funds or educating the" on various facilities that the ban# has to offer. The DA has a "ix of all these 'ccounts in his7her ortfolio.The total nu"ber of clients could go to <00 to 500 de ending on how long the DA has wor#ed with ?*T*('JQ J ' and other factors such as efficiency to handle Rn= nu"ber of accounts. *n the res ective ortfolios there will be a certain ercentage of clients that invest Ds 5 lacs or less with ?*T*('JQ J ' but have the otential to beco"e +old clients as their invest"ent with the ban# is so little that they are not on the target list. 1very DA will have so"e nu"ber of clients that fall into this category. The DA "ay7"ay not #now too "uch about this client .

?itiban# has launched S?iti+old wealth "anage"entG in *ndia! a suite of global financial lanning tools and wealth "anage"ent services. ?itiban#! has ?itigold 4ealth Aanage"ent (an#ing! that relationshi rivileges. tea"! wealth ro"ises five illars of $uality for its financial serviceC restige and lanner! wealth review! global access! and

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8aunched in 2002! ?itigold 4ealth Aanage"ent (an#ing is actually an i" roved version of the ?itigold -riority (an#ing offered by ?itiban# since 2@30. 4hile -riority (an#ing focused on roviding exclusive service! 4ealth Aanage"ent focuses on increasing the financial ortfolio of custo"ers. T4ealth "anage"ent is "ore custo"er centered!U said (atara! Detail

?itiban# has a well-organi&ed syste" of 4ealth Aanage"ent services in *ndia that give an un aralleled advantage and o ens u the o ortunity to "axi"i&e wealth.

?itigold 4ealth Aanage"ent! an innovative feature to co" le"ent ?itiban# and their range of ban#ing services in *ndia. ?itigold 4ealth Aanage"ent rocess to assure yourself that ?itiban#=s ban#ing services in *ndia are co" rehensive and have been designed #ee ing the long-ter" benefits and convenience of the custo"er in "ind ?iti+old wealth "anage"ent is ai"ed at high net worth riority custo"ers who want to grow and rotect their wealth! and offers s ecialised ban#ing services and other exclusive rivileges! said a ress release. The sche"e is in two arts S?iti roG! which is a wealth lanning software tool and S?iti?hoiceG! which rovides custo"ers a shortlist of the to erfor"ing "utual funds and hel s the custo"er trac# his ortfolio erfor"ance with a eriodic review. 1ach ?itigold wealth "anage"ent custo"er is assigned a ?itigold wealth "anager! who is bac#ed by a tea" of ex erts in the field of invest"ents! insurance! treasury and forex services. ?iti+old 4ealth Aanager! bac#ed by a tea" of ex erts in the field of invest"ents! insurance! treasury and foreign exchange services will rovide you with ex ert advice through the ?iti+old 4ealth Aanage"ent -rocess and hel you #ee trac# of your ortfolio on a regular basis. 0our dedicated service relationshi "anager will hel you with all your ban#ing transactions at your convenience.

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The ?iti+old 4ealth Aanage"ent Tea" gives you un aralleled advantage with its ersonali&ed financial lanning and ex ert advise.This dedicated Tea" will "axi"i&e your returns and ensure that your wealth grows steadily while you rest assured. The ?iti+old 4ealth Aanage"ent Tea" co" rises of C ' dedicated ?iti+old 4ealth Aanager to advise you on all your invest"ent and financial needs. ;e is trained and certified on *nvest"ents and *nsurance and is su by a $ualified tea" of rofessionals in the fields of L *nvest"ents L *nsurance L Treasury L Foreign exchange services?iti+old 4ealth Aanage"ent is a two ste rocess orted

The first ste begins with ?iti ro! the Financial Aanaging Tool. *t hel s you assess your existing wealth! cash flow re$uire"ents! ris# a etite and invest"ent hori&on. 0our rofile and your cash flows will deter"ine the o ti"al ortfolio allocation into li$uid assets! "ediu" ter" and long ter" invest"ents. *t also hel s you rationalise your existing liabilities and deter"ine your insurance re$uire"ents so that your fa"ily can continue to avail the sa"e benefits and fulfill their drea"s even in case of an unfortunate eventuality. *t thus enables you to reserve! rotect and grow your wealth. The second ste ertains to roduct selection and ortfolio review and rebalancing with erfor"ing "utual funds in each of the

?iti?hoice. 0ou can select fro" a shortlist of to

li$uid! debt and e$uity funds asset classes fro" leading fund houses in *ndia. ,e ending on your ris# a etite and invest"ent hori&on! you can also invest in +overn"ent of *ndia fixed inco"e securities! treasury bills and cor orate bonds7 debentures7 co""ercial a ers. 0our ?iti+old 4ealth Aanager actively "onitors your invest"ent ortfolio and #ee s you abreast with the u dated status of your invest"ents. 0ou also receive a ortfolio trac#er that contains details on your ortfolio erfor"ance against your financial lan and

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rovides you a syste"atic o do so.

ortunity to rebalance your invest"ents should you desire to

5ide Ran,e o% Produc!s

?iti+old offers a co" rehensive range of roducts to "eet the transaction! savings! invest"ent and insurance re$uire"ents of its clients. ' client can select fro" a set of ter" and endow"ent insurance olicies brought to the" through the insurance artners so that his needs for wealth rotection are ta#en care of. ;e can also select fro" a range of asset roducts! na"ely ersonal! ho"e and auto loans at s ecial relationshi ricing.

?itiban# "a#es available an exclusive set of structured roducts for our ?iti+old custo"ers li#e Aar#et 8in#ed de osits and *nvest-lus. 4ith ?itiban#Gs global reach! one has the ower to "anage one=s foreign exchange flows in the "ost efficient "anner. Unma!c2ed 0an#in, Con enience Jow! ban#ing can be conducted in co" lete exclusivity and confidentiality at the exclusive outlets the world over! and #now about the" through financial and business "aga&ines and television rogra""es. ?iti+old brings su erior ban#ing convenience with draft drawing facilities at over <02 locations! national ban#ing! ayable-at- ar che$ue boo#s! cash delivery and che$ue ic#u facilities. 'n exclusive ?iti+old tele hone line at ?iti-hone! ?itiban# 5nline and ?itiban# (an#ing ?enters enables its custo"ers to conduct their ban#ing transactions 24 hours a

2<

day! . days a wee# - both while they are in *ndia or travelling overseas. ?iti'lert "essaging services hel s to #ee tab on "oney through 'lerts on e"ail or "obile hone. Ci!i.old 5eal!2 Mana,emen! E&clusi es ?iti+old 4ealth Aanage"ent offers exclusive rivileges that co" rises ofC

Tax and estate advisory services through a leading tax advisory fir" in *ndia. Free for life ?itiban# *nternational +old ?redit ?ard. U dated infor"ation on treasury! currency "ar#ets. *nvites to se"inars on ca ital "ar#ets! "utual funds! budget and taxation. Free insurance benefits - u to Ds <0 la#h ersonal accident! and baggage and householder insurance. Free access to air ort lounges at ,o"estic and *nternational air orts in *ndia. rocess of Ci!iPro and

Aaxi"isation of wealth otential can be done with the two - ste Ci!iC2oice

S!e- ' - ?iti-roC 'nalysis of needs to develo custo"i&ed invest"ent and insurance ortfolio Using the global tool of ?iti-ro! 4ealth Aanager will hel analy&e L cash-flow re$uire"ents L ris# a etite L ,esired invest"ent hori&on L 8ong ter" goals This hel s in deter"ining the o ti"al allocation of insurance re$uire"ents for a safer to"orrow. S!e- ) - ?iti?hoiceC 5ne can choose the right roduct to "atch the needs and regularly review the ortfolio 24 ortfolio between li$uid assets!

"ediu" and long-ter" invest"ents. The client will also be able to deter"ine his

,e ending on the ris# a etite and desired returns one can select fro"! a range of to erfor"ing "utual funds fro" the leading fund houses in *ndia. ?iti?hoice gives a rigorously co" iled shortlist of fundsV to select fro" in each category of li$uid! debt and e$uity funds. 4ith ?iti+old 4ealth Aanage"ent one can review your ortfolio on an on-going basis with the 4ealth Aanager using the -ortfolio Trac#er. 5ne can even rebalance one=s ortfolio if he so desires! to #ee in touch with the changing "ar#et situation and fluctuating interest. ?iti ro is a global tool that hel s in analy&ing the current financial situation and lan wealth accordingly. 's a rivileged ?iti+old custo"er! ?itban# offers the services of a dedicated tea" and a 4ealth Aanager who will use ?iti ro to ensure that the custo"ers have the leasure of seeing their wealth grow. To use ?iti ro for the future financial lanning clients need to have the following infor"ation ready! when consulting with their 4ealth Aanager. This is to assist the" in re aring their custo"i&ed financial lan. 2. Their inco"e 2. Their s ouseGs inco"e <. Their assets 9savings account balances! de osits! "utual funds! shares! ro erty: 4. Their retire"ent lan details! including ublic rovident funds or other retire"ent lans 5. 8oan details - ho"e loans! auto loans! ersonal loans! business or any other loans ta#en I. *nsurance olicies details Citigroup Asset Management For a diverse range of funds to suit every investor! ta#e a loo# at the "utual funds offered by our sister co" any ?itigrou 'sset Aanage"ent 9?'A:. 4ith total assets under "anage"ent of over >522 billion 9at 24 Kanuary!2004: clients can invest across funds that vary by geogra hy and sector yet cater for all ris# rofiles.

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?'A funds cross four broad categories - "oney "ar#ets 9?itiAoney:! bonds 9?iti(ond: ?iti +rou is the world=s largest US based AJ?. 4e are dealing in all #inds of financial transactions ranging fro" ban#ing! invest"ent! "utual funds! bonds! shares! insurance! financial advice! various ty es of loans etc. ?iti +rou is #nown to be the "ost innovative and dyna"ic ty e of concern.

2I

Salien! /ea!ures
Aulti ,e osits *nvest"ent Service Free *nsurance ?overage ,ial a ,raft delivery ?he$ue H ?ash ic#u H delivery. Jationalised local ban#ing *nternational ,ebit card Faster ?learing ?iti ,irect ?iti -hone 24 hrs. 'TA centers 0our Fery 5wn Delationshi Aanager

Mul!i De-osi!s
*t=s a uni$ue feature attached to ?iti(an# saving '7?s. Unli#e other Fixed ,e osits! ?iti(an# offer F,s in "ulti les of 2000s! so that whenever any client want to withdraw any a"ount! he can ta#e it in the "ulti le of 2000s without disturbing Fixed ,e osits

In es!men! Ser ices

This is an additional feature attached with ?iti (an# services on which they can boast off. They rovide an o ortunity to "a#e "oney wor#! with the hel of *nvest"ent 'dvisors. They rovide these services together with their international artners. This way client can have so"eone to ta#e care of his invest"ent H that=s without any charges too.

2.

/ree Insurance Co era,e

4ith a ?iti(an# Saving 'ccount! client can get two ty es of *nsurance absolutely free2. ;ousehold *nsurance worth 2 lac 2. 'ccident *nsurance worth 2 lac

Dial A Dra%!
4henever a client is in need of a draft! he %ust has to call u on hone and can receive a draft free of any other charges. *n case! he want it to reach so"e other beneficiary! he %ust has to let the" #now through their website and its going to get delivered within 24 hours

C2e1ue 3 Cas2 -ic# u- 3 deli erin,

' client %ust has to use ?iti -hone to have ?he$ue H ?ash ic# u H delivering and ?itiban# will do the sa"e to save client=s revious ti"e. The cash that client could receive or de osit should be between 25!000 to 250!000 and there are no charges levied either.

Na!ionali6ed 4ocal 0an#in,

4ith 2I ?itiban# centers across the country! one can de osit their che$ues and cash anywhere and it will be treated as local to "a#e it convenient to deal with ?itiban#

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In!erna!ional De$i! Card

4ith each Saving '7?! one can get his R*nternational debit ?ard=! which saves the" fro" troubling of having currency of the country! they are visiting. They can use it in any country and can get that country=s currency without any hassles.

/as!er Clearin,
4ith ?itiban#! che$ues ta#e the "ini"u" rocessing ti"e. For local clearing! it ta#es 2 days! for "etros it ta#es 4 days and any state ca ital .-24 days. For US dollar che$ues! it ta#es around 22 days.

Ci!i-2one 3Ci!idirec!
The services of ?itiban# are available . days a wee#! 24 hrs. a day with the hel of ?iti hone service H *nternet. 5ne can browse their a7c! de"and che$ueboo#! de osit sli ! and as# for sto ay"ent on che$ue H che$ue7cash ic#-u or delivery.

)7-Hour ATM Cen!ers

5ne can get ready cash round the cloc#W 4ithdraw u to Ds. .5!000 1n$uire into a7c +et state"ent co y through fax or "ail Sto ay"ent on che$ues atc.

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Rela!ions2i- Mana,er
4henever one has any transactional need! they as# for ?iti hone H citi direct service and if one has any $uery! a Delationshi Aanager is s ecially assigned to the" to hel the" out. ;e will guide to "axi"i&e returns and on how to "a#e "ost of the ?itiban# services.

Ci!i Aler!
4ith ?iti 'lert ?itiban# can #ee trac# of their client=s "oney! without the" being worrying about it. ?lient could trust ?itiban# for having re"inders! alerts and confir"ations. They ta#e care of client=s a7c and let the" infor" about their balance! o7d status! and credit H debit details etc. ?itiban# also re"inds their client of the due date of their utility bills.

The following is the list of the roducts in the *nvest"ent -ortfolio of 8 5eal!2 Mana,emen!9 : ,ebt Funds (irla *nco"e -lus ;,F? *nco"e Fund -rinci al *nco"e Fund Te" leton *ndia *nco"e (uilder 'ccount (alance Funds ,S- Aerrill 8ynch (alanced Fund Fran#lin *ndia (alanced Fund ;,F? -rudence Fund -rudential *?*?* (alance Fund

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 1$uity Funds ,S- Aerrill 8ynch 5 ortunities Fund Fran#lin *ndia (luechi Fund Fran#lin *ndia -ri"a Fund ;,F? 1$uity Fund ;,F? To 200 Fund +ilt 8ong Ter" Funds (irla +ilt -lus- Degular -lan ,S- Aerrill 8ynch +ovt Sec Fund 9-lan ': Te" leton *ndia +-Sec Fund 8i$uid Funds ,S- Aerrill 8ynch 8i$uidity Fund ;,F? ?ash Aanage"ent Fund- Savings -lan Te" leton *ndia Treasury Aanage"ent 'ccount

,ebt Short-ter" Funds (irla (ond -lus )Detail ,S- Aerrill 8ynch Short Ter" Fund -rinci al *nco"e Fund )Short Ter" Fund -lan -rudential *?*?* Short Ter" -lan ?D*S*8 ST(1X A*- Funds (irla Aonthly *nco"e Te" leton Aonthly *nco"e -lan ?D*S*8 A*-1X

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 D(* (5J,S *nsurance -lans (irla Sun 8ife T'T' '*+ Following is the infor"ation ertaining to the various o tions that are o en to the ?itigold custo"ers as regards the invest"entC De$! /unds ANNUALISED RETURNS ON DEBT FUNDS
13. 7% 14.19%
HD*C In$%&' *(n+

B!"#a In$%&' P#()

14.47%

P"!n$!,a# In$%&' 2. (irla *nco"e -lus ;,F? *nco"e *(n+ Fund

14.09%

The ob%ective is generate consistent inco"e through su erior yields on its invest"ents at "oderate T',#'-%n levels of ris# through a
In+!a diversified invest"ent a roach! and In$%&' to o ti"i&e returns while B(!#+'" "aintaining a balance of safety! yieldA$$%(nand li$uidity.

2. -rinci al *nco"e Fund The ob%ective is to generate regular inco"e and ca ital a reciation through invest"ent in debt instru"ents and related securities.

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<. Te" leton *ndia inco"e (uilder 'ccount The ob%ective is to deliver su erior ris#-ad%usted returns 9regular inco"e: by actively "anaging a ortfolio of high $uality fixed inco"e securities.

0alanced /unds Annualised Return on Balance Funds

30.00% 20.00% 10.00% DSP M'""!## ./n$0 Ba#an$'+ *(n+ 0.00% Ann(a#!)'+ Ann(a#!)'+ R'-("n R'-("n

2. ,S- Aerrill 8ynch (alanced Funds 'n o en-ended balanced sche"e see#ing to generate long ter" ca ital a reciation and current inco"e fro" a ortfolio constituted of e$uity and e$uity related securities as well as fixed inco"e securities 9debt and "oney securities: 2. Fran#lin *ndia (alanced Fund The ob%ective is to see# to generate long ter" ca ital a reciation and current through conservative and rudent ex osure to e$uity and debt. <. ;,F? -rudence Fund The invest"ent ob%ective of the sche"e is to rovide eriodic returns and ca ital a reciation over a long eriod ti"e! fro" a

P"(+'n-!a# ICICI Ba#an$' *(n+

2<

%udicious "ix of e$uity and debt invest"ents! with the ai" to revent7"ini"i&e any ca ital erosion

4. -rudential *?*?* (alanced Fund The ob%ective is to generate long-ter" ca ital a reciation and current inco"e fro" a ortfolio that is invested in e$uity and e$uity related securities as well as in fixed inco"e securities E1ui!y /unds

Annualised Return on E uit! Funds

30.00% 20.00% 10.00% 0.00% *"ank#!n In+!a DSP M'""!## HD*C T%, 200 *(n+

Ann(a#!)'+ R'-("n

2. ,S- Aerrill 8ynch 5

ortunities Fund

'n o en ended growth sche"e and its focus is to res ond to the dyna"ically changing *ndian econo"y by "oving its invest"ent a"ong different sectors such as lifestyle sector as revailing trends change to generate long ter" ca ital a reciation. 2. Fran#lin *ndia (luechi Fund The ob%ective is to see# steady and consistent growth by focusing on well established! large si&e co" anies H ai"s to rovide "ediu" to long-ter" a reciation.

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<. Fran#lin *ndia -ri"a Fund *t is an o en-ended e$uity fund that ai"s to achieve ca ital a reciation through invest"ents in relatively s"aller! faster growing co" anies 4. ;,F? 1$uity Fund The invest"ent ob%ective is of the sche"e is to achieve ca ital a reciation 5. ;,F? To 200 Fund The invest"ent ob%ective is to generate long-ter" ca ital a reciation fro" a ortfolio of e$uity and e$uity lin#ed instru"ents. .il! 4on, Term /unds Annualised Return on "ilt Long Term Funds
19.40% 19.20% 19.00% 1 . 0% B!"#a 1(!#P#()T'&,#'%n In+!a 1-S'$ Ann(a#!)'+ R'-("n

2. (irla +ilt -lus- Degular -lan The ob%ective is to generate inco"e and ca ital a reciation through invest"ents exclusively in govern"ent Securities 2. ,S- Aerrill 8ynch +ovt Sec Fund 9-lan ': 'n o en-ended sche"e see#ing to generate returns through invest"ents in central govern"ent Securities 25

<. Te" leton *ndia +-Sec Fund *t strives to enhance ortfolio returns by actively "anaging the ortfolio duration and "ar#et volatility to generate credit ris#free returns through invest"ents in sovereign securities. 4i1uid /unds

Annualised Returns on Li uid Funds

DSP M'""!## ./n$0 .!3(!+!-/ *(n+

.20%

7.29%
HD*C Ca)0 Mana4'&'n- *(n+ Sa5!n4) P#an)

6.60%

T'&,#'-%n In+!a T"'a)("/ Mana4'&'nA$$%(n-

2. ,S- Aerrill 8ynch 8i$uidity Fund 'n o en-ended inco"e sche"e see#ing to generate return co""ensurate with low ris# and a high degree of li$uidity! fro" a ortfolio constituted of "oney "ar#et securities and high $uality debt securities 2. ;,F? ?ash Aanage"ent Fund- Savings -lan The invest"ent ob%ective is to generate o ti"al returns while "aintaining safety and high li$uidity. 'ccordingly! invest"ents will be "ade in Aoney Aar#et *nstru"ents! +overn"ent Securities and ?or orate ,ebt. Te" leton *ndia Treasury Aanage"ent 'ccount The ob%ective is to strive to stri#e an o ti"al balance between steady inco"e and high li$uidity through a %udicious "ix of 2I

fixed and floating rate debt instru"ents. To rovide current inco"e along with high li$uidity.

INSTRUMENTS USED TO .ATHER IN/ORMATION The Personal In!er ie"s were conducted to find out the erce tion of the co" any a"ong the otential custo"ers. They also ai"ed at roviding the" with useful #nowledge about the various offerings by ?itiban#. -ersonal *nterviews hel in having a face-to-face interaction with the res ondents and this hel ed us tre"endously in our ro%ect. 'round! 250 otential ?itigold custo"ers were interviewed for the sa"e ur ose. Tele hone calls were "ade to the" and rior a oint"ents were ta#en to ensure their convenience. Their na"es and tele hone nu"bers were rovided by the ban# fro" their database where the otential custo"ers were segregated fro" the existing ones on the basis of their Savings 'ccount (alances and their invest"ent otential. The elite custo"ers belonging to the ;igher-class were included.. ' huge ercentage of the ros ective clients then got converted thereby investing in the various *nvest"ent 5 tions. Euestions involved as#ing the" about their resent *nvest"ents! the ban#s they invest with! their #nowledge about ?itiban# and its roducts and if they don=t ban# with ?itiban#! the reasons for the sa"e. ' ro riate infor"ation was rovided to the" they as#ed for. Their o tions for invest"ents are weighted three "ain co" onents

na"ely C Dis# ' etite! 1x ected Deturns! and the Ti"e ,uration of their invest"ent. So! efforts were "ade in every direction to find out the one that

2.

was "ost a

ealing a"ongst the "a%ority of the clients. 's! the ?itigold

*nvest"ent Services re$uires the clients to invest funds in the excess of Ds.<0 8acs over a eriod of one year! careful analysis of their *nco"e and *nvest"ent ca ability was underta#en to do away with any discre ancies. The different *nvest"ent o tions include invest"ent in various #inds of Autual Funds! D(* (onds and *nsurance. The clients were given infor"ation in detail for the sa"e with the hel of -ower -oint -resentations which "ade the tas# "uch easier. The res onse of the custo"ers was excellent as they were all very well fa"iliar with the ?itiban# brand na"e and were thus $uite rece tive. Farious references were also given to us which enabled us to rovide useful services to the ban#. E en!s were also organi&ed on every Sunday in the residential colonies in order to give the infor"ation to the ros ective clients while "axi"i&ing their convenience. *t also hel ed to tal# to those eo le who were not available during the wee# days due to their wor# which re$uired the" to go out of the city on a fairly regular basis. The residential socities covered included Sunrise -ar#! Satyagrah ?havni! S ring Falley! 'sho# Fati#a etc to na"e a few. The res onse was extre"ely ositive and encouraging! as the eo le #new a lot about the various invest"ent o tions and were thus able to relate to what was told to the". 4e were acco" anied by our -ro%ect +uide Ar. +auta" 'nand! the Sales Aanager at ?itiban# and 4 'ssistant Aanagers who gave in-de th infor"ation to the otential clients about the different roduct offerings of the ban# and the ones that would suit the" "ost o ti"ally! de ending on

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their references with res ect to Dis#! Deturn and the Ti"e -eriod of their *nvest"ent. /INDIN.S 5ur survey consisting of the -ersonal *nterviews and the events that we organi&ed at various residential areas hel ed us to co"e to the following findingsC The "ost co""on invest"ent o tion ha ens to be Autual Funds!

followed by *nsurance in case of relatively s"all invest"ents. ?itiban# is a well-established brand and it also en%oys a high brand recall a"ong the various foreign ban#s o erating in the country at resent. The custo"ers! whether resent or ros ective have huge inco"e at their dis osal which has to be ta ed by the ban#. The "ost co""on concern a"ong the custo"ers while o ting for a articular invest"ent o tion is the return closely followed by the ris# that is involved. The resent clients are very leased with the service rovided by ?itiban# and they regard it of very high $uality. This also enables the clients to reco""end the ban# to their fa"ily "e"bers! friends and relatives etc. The custo"ers are not very leased with the ?redit ?ards division of ?itiban# and they have a very bad re utation on the "inds of the so"e of the".

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 The fact that ?itiban# is the To Foreign (an# in the country also goes down very well with the clients. Aost of the" are highly satisfied with the services rovided to the" . The growth of the rivate sector ban#s in the last few years is a cause of concern as they offer tough co" etition . The growth of the Financial Sector in the last cou le of years augers very well for the ban# as it has a" le growth o have to be carefully and s#illfully ta ed. ortunities which

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SU..ESTIONS The various that we would li#e to give to the ban# are as under C The ban# should concentrate on ensuring that the custo"ers are assured about the return and the ris# ele"ent while reco""ending an *nvest"ent o tion to the". *t has to continuously co"e u with new and innovative financial roducts in order to beat the e"erging co" etition osed by the other foreign ban#s and the ones in the ublic sector. The ?redit ?ards which have a very bad i" ression in the "inds of the custo"ers have to be carefully dealt with as soon as ossible. Ste s need to be ta#en to ortray a favourable icture in the "inds of one and all. The good service has to be continued and u graded as and when ossible as it has rovided ?itiban# with a cutting edge over its co" etitors. The ban# has to try to include those financial roducts that offer "axi"u" returns with least ris# in its ortfolio! as it will hel in attracting lot of custo"ers who don=t invest in the absence of the sa"e. ?ontinous "onitoring of other ban#s to #ee activities is also called for . a trac# of their

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0I04IO.RAPH:

'; Hand$oo# %or 5ri!ers and Edi!ors < 0y < S= Sreeni as Rao= ); """=ci!i=com >; """=ci!i$an#=com?india 7; """=am%i=com @; Ci!ic2oice Auar!erly /und Re ie"= +; Mu!ual /und Insi,2!=

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