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HISTORY OF THE INDIAN MUTUAL FUND INDUSTRYThe mutual fund industry in India started in 1963 with the formation of Unit Trust ofIndia, at the initiative of the Government of India and Reserve Bank. Though thegrowth was slow, but it accelerated from the year 1987 when non-UTI players enteredthe Industry.

In the past decade, Indian mutual fund industry had seen a dramatic improvement, bothqualities wise as well as quantity wise. Before, the monopoly of the market had seen anending phase; the Assets Under Management (AUM) was Rs67 billion. The privatesector entry to the fund family raised the Aum to Rs. 470 billion in March 1993 and tillApril 2004; it reached the height if Rs. 1540 billion.The Mutual Fund Industry is obviously growing at a tremendous space with the mutualfund industry can be broadly put into four phases according to the development of thesector. Each phase is briefly described as under.First Phase1964-87

Unit Trust of India (UTI) was established on 1963 by an Act of Parliament by theReserve Bank of India and functioned under the Regulatory and administrative controlof the Reserve Bank of India. In 1978 UTI was de-linked from the RBI and theIndustrial Development Bank of India (IDBI) took over the regulatory andadministrative control in place of RBI. The first scheme launched by UTI was Unit

Scheme 1964. At the end of 1988 UTI had Rs.6,700 crores of assets undermanagement.Second Phase1987-1993 (Entry of Public Sector Funds)

1987 marked the entry of non- UTI, public sector mutual funds set up by public sectorbanks and Life Insurance Corporation of India (LIC) and General InsuranceCorporation of India (GIC). SBI Mutual Fund was the first non- UTI Mutual Fundestablished in June 1987 followed by Canbank Mutual Fund (Dec 87), Punjab NationalBank Mutual Fund (Aug 89), Indian Bank Mutual Fund (Nov 89), Bank of India (Jun90), Bank of Baroda Mutual Fund (Oct 92). LIC established its mutual fund in June1989 while GIC had set up its mutual fund in December 1990.At the end of 1993, themutual fund industry had assets under management of Rs.47,004 crores.Third Phase1993-2003 (Entry of Private Sector Funds)

1993 was the year in which the first Mutual Fund Regulations came into being, underwhich all mutual funds, except UTI were to be registered and governed. The erstwhileKothari Pioneer (now merged with Franklin Templeton) was the first private sectormutual fund registered in July 1993.The 1993 SEBI (Mutual Fund) Regulations were substituted by a more comprehensive

and revised Mutual Fund Regulations in 1996. The industry now functions under theSEBI (Mutual Fund) Regulations 1996. As at the end of January 2003, there were 33mutual funds with total assets of Rs. 1,21,805 crores.Fourth Phasesince February 2003

In February 2003, following the repeal of the Unit Trust of India Act 1963 UTI was

bifurcated into two separate entities. One is the Specified Undertaking of the Unit Trust

of India with assets under management of Rs.29,835 crores as at the end of January

2003, representing broadly, the assets of US 64 scheme, assured return and certain

other schemes

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The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB and LIC. It is

registered with SEBI and functions under the Mutual Fund Regulations. consolidation

and growth. As at the end of September, 2004, there were 29 funds, which manage

assets of Rs.153108 crores under 421 schemes.

CATEGORIES OF MUTUAL FUND:

Mutual funds can be classified as follow :

structure:

Open-ended funds: Investors can buy and sell the units from the fund, at any point

of time.

Close-ended funds: These funds raise money from investors only once. Therefore,

after the offer period, fresh investments can not be made into the fund. If the fund is

listed on a stocks exchange the units can be traded like stocks (E.g., Morgan Stanley

Growth Fund). Recently, most of the New Fund Offers of close-ended funds provided

liquidity window on a periodic basis such as monthly or weekly. Redemption of units

can be made during specified intervals. Therefore, such funds have relatively low

liquidity.

Equity funds: These funds invest in equities and equity related instruments. With

fluctuating share prices, such funds show volatile performance, even losses. However,

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short term fluctuations in the market, generally smoothens out in the long term, thereby

offering higher returns at relatively lower volatility. At the same time, such funds can

yield great capital appreciation as, historically, equities have outperformed all asset

classes in the long term. Hence, investment in equity funds should be considered for a

period of at least 3-5 years. It can be further classified as:

i) Index funds- In this case a key stock market index, like BSE Sensex or Nifty istracked. Their portfolio mirrors the benchmark index both in terms of compositionand individual stock weightages.ii) Equity diversified funds- 100% of the capital is invested in equities spreadingacross different sectors and stocks.iii|) Dividend yield funds- it is similar to the equity diversified funds except that theyinvest in companies offering high dividend yields.

iv) Thematic funds- Invest 100% of the assets in sectors which are related throughsome theme.e.g. -An infrastructure fund invests in power, construction, cements sectors etc.v) Sector funds- Invest 100% of the capital in a specific sector. e.g. - A banking sectorfund will invest in banking stocks.vi) ELSS- Equity Linked Saving Scheme provides tax benefit to the investors.

Balanced fund: Their investment portfolio includes both debt and equity. As a result, onthe risk-return ladder, they fall between equity and debt funds. Balanced funds are the idealmutual funds vehicle for investors who prefer spreading their risk across various instruments.Following are balanced funds classes:

i) Debt-oriented funds -Investment below 65% in equities.

ii) Equity-oriented funds -Invest at least 65% in equities, remaining in debt.

Debt fund: They invest only in debt instruments, and are a good option for investorsaverse to idea of taking risk associated with equities. Therefore, they invest exclusivelyin fixed-income instruments like bonds, debentures, Government of India securities;and money market instruments such as certificates of deposit (CD), commercial paper(CP) and call money. Put your money into any of these debt funds depending on yourinvestment horizon and needs.i) Liquid funds- These funds invest 100% in money market instruments, a largeportion being invested in call money market.ii) Gilt funds ST- They invest 100% of their portfolio in government securities of andT-bills.iii) Floating rate funds - Invest in short-term debt papers. Floaters invest in debtinstruments which have variable coupon rate.iv) Arbitrage fund- They generate income through arbitrage opportunities due to mispricingbetween cash market and derivatives market. Funds are allocated to equities,derivatives and money markets. Higher proportion (around 75%) is put in moneymarkets, in the absence of arbitrage opportunities.v) Gilt funds LT- They invest 100% of their portfolio in long-term governmentsecurities.

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Company ProfileINTRODUCTION TO SBI MUTUAL FUND

SBI Funds Management Pvt. Ltd. is one of the leading fund houses in thecountry with an investor base of over 4.6 million and over 20 years of rich

experience in fund management consistently delivering value to its investors.SBI Funds Management Pvt. Ltd. is a joint venture between 'The State Bank ofIndia' one of India's largest banking enterprises, and Societe Generale AssetManagement (France), one of the world's leading fund management companiesthat manages over US$ 500 Billion worldwide.Today the fund house manages over Rs 28500 crores of assets and has a diverseprofile of investors actively parking their investments across 36 active schemes.In 20 years of operation, the fund has launched 38 schemes and successfully

redeemed 15 of them, and in the process, has rewarded our investors withconsistent returns. Schemes of the Mutual Fund have time after timeoutperformed benchmark indices, honored us with 15 awards of performanceand have emerged as the preferred investment for millions of investors. The trustreposed on us by over 4.6 million investors is a genuine tribute to our expertisein fund management.SBI Funds Management Pvt. Ltd. serves its vast family of investors through anetwork of over 130 points of acceptance, 28 Investor Service Centres, 46Investor Service Desks and 56 District Organizers.SBI Mutual is the first banksponsoredfund to launch an offshore fundResurgent India Opportunities Fund.Growth through innovation and stable investment policies is the SBI MF credo.

PRODUCTS OF SBI MUTUAL FUND

Equity schemes

The investments of these schemes will predominantly be in the stock marketsand endeavor will be to provide investors the opportunity to benefit from thehigher returns which stock markets can provide. However they are also exposedto the volatility and attendant risks of stock markets and hence should bechosen only by such investors who have high risk taking capacities and arewilling to think long term. Equity Funds include diversified Equity Funds,Sectoral Funds and Index Funds. Diversified Equity Funds invest in various

stocks across different sectors while sectoral funds which are specialized EquityFunds restrict their investments only to shares of a particular sector and hence,are riskier than Diversified Equity Funds. Index Funds invest passively only inthe stocks of a particular index and the performance of such funds move withthe movements of the index.

Magnum COMMA FundMagnum Equity FundMagnum Global FundMagnum Index FundMagnum Midcap FundMagnum Multicap Fund

Magnum Multiplier plus 1993Magnum Sectoral Funds Umbrella

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MSFU- Emerging Business FundMSFU- IT Fund

MSFU- Pharma FundMSFU- Contra Fund

MSFU- FMCG FundSBI Arbitrage Opportunities FundSBI Blue chip FundSBI Infrastructure Fund - Series ISBI Magnum Taxgain Scheme 1993SBI ONE India FundSBI TAX ADVANTAGE FUND - SERIES I

Debt schemesDebt Funds invest only in debt instruments such as Corporate Bonds,Government Securities and Money Market instruments either completelyavoiding any investments in the stock markets as in Income Funds or Gilt Funds

or having a small exposure to equities as in Monthly Income Plans or Children'sPlan. Hence they are safer than equity funds. At the same time the expectedreturns from debt funds would be lower. Such investments are advisable for therisk-averse investor and as a part of the investment portfolio for other investors. Magnum Childrens benefit Plan Magnum Gilt Fund

COMPETITORS OF SBI MUTUAL FUND

Some of the main competitors of SBI Mutual Fund in Dehradoon are as

Follows:

i. ICICI Mutual Fund

ii. Reliance Mutual Fund

iii. UTI Mutual Fund

iv. Birla Sun Life Mutual Fund

v. Kotak Mutual Fund

vi. HDFC Mutual Fund

vii. Sundaram Mutual Fund

viii. LIC Mutual Fund

ix. Principal

x. Franklin Templeton

AWARDS AND ACHIEVEMENTS

SBI Mutual Fund (SBIMF) has been the proud recipient of the ICRA Online Award - 8times, CNBC TV - 18 Crisil Award 2006 - 4 Awards, The Lipper Award (Year 2005-

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2006) and most recently with the CNBC TV - 18 Crisil Mutual Fund of the Year Award2007 and 5 Awards for our schemes.

AWARDS

At SBI Funds Management, we devote considerable resources to gain, maintain and sustain our profitable insights into market movements. The trust reposed on

us by millions of investors is a genuine tribute to our expertise in Fund Management and dedication to our singular focus. And this has resulted in various

awards and accolades for us from the fund industry, motivating us to do better. Some of the awards won by us are listed below.

2012ICRA Mutual Fund Awards 2012 For Various Schemes

2011Readers Digest Awards 2011 For Trusted Brand in Fund Management Category

ICRA Mutual Fund Awards 2011 For Magnum Income Fund - Floating Rate Plan - Long Term Plan

2010ICRA Mutual Fund Awards 2010 For Magnum Global Fund

Home>Products> Debt / Income Schemes

EQUITY SCHEMES

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The primary objective of the equity asset class is to provide capital growth / appreciation by investing in the equity and equity related instruments of companies

over medium to long term.

Equity/ Growth Funds

Magnum Multicap Fund Magnum Equity Fund Magnum Multiplier Plus 1993 SBI Blue Chip Fund Magnum Global Fund SBI One India Fund Magnum Midcap Fund

Sectoral Funds

Magnum Sector Funds Umbrella-Emerging Businesses Fund Magnum Sector Fund Umbrella-Contra Fund Magnum Sector Funds Umbrella-FMCG Fund Magnum Sector Funds Umbrella-IT-Fund Magnum Sector Funds Umbrella-Pharma Fund

DEBT / INCOME SCHEMES

The schemes in this asset class generally invest in fixed income securities such as bonds, corporate debentures, government securities (gilts), money market

instruments, etc. and provide regular and steady income to investors.

Magnum Children's Benefit Plan Magnum Income Plus Fund - Saving Plan Magnum Income Fund Floating Rate Plan - Savings Plus Bond Plan Magnum Income Fund Floating Rate Plan - Long Term Magnum Income Fund SBI Dynamic Bond Fund Magnum Gilt Fund - Short Term Plan Magnum Gilt Fund - Long Term Plan SBI Short Horizon Debt Fund - Short Term Fund SBI Short Horizon Debt Fund - Ultra Short Term Fund

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Home>Products> Liquid Schemes

LIQUID SCHEMES

The strategy for liquid funds include investments in short investment horizon, which includes 'cash' assets such as treasury bills, certificates of deposit and

commercial paper.

Magnum InstaCash Fund Magnum InstaCash Fund-Liquid Floater SBI Premier Liquid Fund

HYBRID SCHEMES

These schemes invest in a mixture of debt and equity securities in different proportions as prescribed in the Scheme Information Document.

Magnum Balanced Fund Magnum NRI Investment Fund - Flexi Asset Plan Magnum Income Plus Fund - Investment Plan Magnum Monthly Income Plan Magnum Monthly Income Plan Floater SBI Capital Protection Oriented Fund Series I SBI Capital Protection Oriented Fund Series II SBI Capital Protection Oriented Fund Series III

FIXED MATURITY PLANS

These are closed ended debt schemes with a fixed maturity date and they invest in debt & money market instruments maturing on or before the date of the

maturity of the scheme.

SBI Debt Fund Series 13 MONTHS 11 SBI Debt Fund Series 13 MONTHS 12 SBI Debt Fund Series 13 MONTHS 13 SBI Debt Fund Series 15 MONTHS 6 SBI Debt Fund Series 15 MONTHS 7 SBI Debt Fund Series 15 MONTHS 8 SBI Debt Fund Series 15 MONTHS 9 SBI Debt Fund Series 15 MONTHS 10 SBI Debt Fund Series 18 MONTHS 4 SBI Debt Fund Series 18 MONTHS 5 SBI Debt Fund Series 18 MONTHS 6 SBI Debt Fund Series 18 MONTHS 7 SBI Debt Fund Series 18 MONTHS 8 SBI Debt Fund Series 18 MONTHS 9 SBI Debt Fund Series 180 DAYS 22 SBI Debt Fund Series 180 DAYS 23 SBI Debt Fund Series 24 MONTHS 2 SBI Debt Fund Series 36 MONTHS 1 SBI Debt Fund Series 367 DAYS 1 SBI Debt Fund Series 367 DAYS 2 SBI Debt Fund Series 367 DAYS 3 SBI Debt Fund Series 367 DAYS 4 SBI Debt Fund Series 367 DAYS 5 SBI Debt Fund Series 367 DAYS 6 SBI Debt Fund Series 367 DAYS 7 SBI Debt Fund Series 367 DAYS 8 SBI Debt Fund Series 367 DAYS 9 SBI Debt Fund Series 367 DAYS 10 SBI Debt Fund Series 367 DAYS 11 SBI Debt Fund Series 367 DAYS 12 SBI Debt Fund Series 367 DAYS 13 SBI Debt Fund Series 367 DAYS 14 SBI Debt Fund Series 367 DAYS 15

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8/2/2019 Lak Shama

9/25

SBI Debt Fund Series 367 DAYS 16 SBI Debt Fund Series 367 DAYS 17 SBI Debt Fund Series 367 DAYS 18 SBI Debt Fund Series 367 DAYS 19 SBI Debt Fund Series 370 DAYS 10 SBI Debt Fund Series 370 DAYS 11 SBI Debt Fund Series 370 DAYS 12 SBI Debt Fund Series 370 DAYS 13 SBI Debt Fund Series 370 DAYS 14 SBI Debt Fund Series 370 DAYS 15 SBI Debt Fund Series 60 MONTHS 1 SBI Debt Fund Series 90 DAYS 52 SBI Debt Fund Series 90 DAYS 53 SBI Debt Fund Series 90 DAYS 54 SBI Debt Fund Series 90 DAYS 55 SBI Debt Fund Series 90 DAYS 56 SBI Debt Fund Series 90 DAYS 57 SBI Debt Fund Series 90 DAYS 58 SBI Debt Fund Series 90 DAYS 59 SBI Debt Fund Series 90 DAYS 6

EXCHANGE TRADED SCHEMES

ETFs are nothing but a basket of securities that are traded on the stock exchange.

SBI Gold Exchange Traded Scheme

FUND OF FUND SCHEMES

A "Fund of Funds Scheme" means a mutual fund scheme that invests primarily in other schemes of the same mutual fund or other mutual funds.

SBI Gold Fund BOARD OF DIRECTORSAMC

Mr. Pratip ChaudhuriChairman & Associate Director

Mr. Jayesh GandhiIndependent Director

Mr. Deepak Kumar ChatterjeeManaging Director

Dr. H. SadhakIndependent Director

Mrs. Madhu Dubhashi

Independent Director

Dr. H. K. Pradhan

Independent Director

Mr. Shyamal AcharyaAssociate Director

Mr. Shishir JoshipuraIndependent Director

Mr. Thierry Raymond MequilletAssociate Director

BOARD OF DIRECTORSAMC

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Mr. Pratip ChaudhuriChairman & Associate Director

Mr. Jayesh GandhiIndependent Director

Mr. Deepak Kumar ChatterjeeManaging Director

Dr. H. SadhakIndependent Director

Mrs. Madhu DubhashiIndependent Director

Dr. H. K. PradhanIndependent Director

Mr. Shyamal AcharyaAssociate Director

Mr. Shishir Joshipura

Our Identity

With over 24 years of rich experience in fund management, we at SBI Funds Management Pvt. Ltd. bring forward our expertise by

consistently delivering value to our investors. We have a strong and proud lineage that traces back to the State Bank of India (SBI) - India's

largest bank. We are a Joint Venture between SBI and AMUNDI (France), one of the world's leading fund management companies.

With our network of over 222 points of acceptance across India, we deliver value and nurture the trust of our vast and varied family of

investors.Excellence has no substitute. And to ensure excellence right from the first stage of product development to the post-investment stage, we are

ably guided by our philosophy of growth through innovation and our stable investment policies. This dedication is what help s our

customers achieve their financial objectives.

Our Vision

To be the most preferred and the largest fund house for all asset classes, with a consistent track record of excellent returns and best

standards in customer service, product innovation, technology and HR practices.

Our Services

Mutual Funds

Investors are our priority. Our mission has been to establish Mutual Funds as a viable investment option to the masses in the country.

Working towards it, we developed innovative, need-specific products and educated the investors about the added benefits of investing in

capital markets via Mutual Funds.Today, we have been actively managing our investor's assets not only through our investment expertise in domestic mutual funds, but also

offshore funds and portfolio management advisory services for institutional investors.

This makes us one of the largest investment management firms in India, managing investment mandates of over 4.5 million investors.

Portfolio Management and Advisory Services

SBI Funds Management has emerged as one of the largest player in India advising various financial institutions, pension funds, and local

and international asset management companies.

We have excelled by understanding our investor's requirements and terms of risk / return expectations, based on which we suggest

customized asset portfolio recommendations. We also provide an integrated end-to-end customized asset management solution for

institutions in terms of advisory service, discretionary and non-discretionary portfolio management services.

Offshore Funds

SBI Funds Management has been successfully managing and advising India's dedicated offshore funds since 1988. SBI Funds Management

was the 1st bank sponsored asset management company fund to launch an offshore fund called 'SBI Resurgent India Opportunities Fund'

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with an objective to provide our investors with opportunities for long-term growth in capital, through well-researched investments in a

diversified basket of stocks of Indian Companies.

CHAPTER-3

McKinneys 7S FRAMEWORK

The 7-S model is better known as McKinneys 7-S, this is because the two persons who had

developed this model, Tom Peters & Robert Waterman, have been consultants at McKinsey

and Co at that time. They published their 7-S model in their article "Structure is Not

Organization"(1980) & in their books "The Art of Japanese Management"(1981) & "In

search of Excellence"(1982). The 7-S framework of McKinsey is a value based management

model that describes how one can holistically and effectively organize a company. Together

these factors determine the way in which a corporation operates. The model starts on the

premise that an organization is not just Structure, but consists of seven elements

Soft Ss:

The four Ss across the button of the model are less tangible, more cultural in nature andwere termed as Soft Ss by McKinsey.

1. Skills: The capabilities and competencies that exist within the company are termed asskills.

2. Shared Values: The values and beliefs of the company. Ultimately they guideemployees towards Valued Behaviour.

3. Staff: The companys people resources and how they are developed, trained andmotivated.

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4. Style: The leadership approach of top management and the companysoverall operating approach.

Hard Ss:

The three Ss across the top of the model are described as Hard Ss. The 3Ssacross the top of the model are described as Hard Ss.

1. Strategy: The direction and scope of the company over the long term isknown as strategy.

2. S t r u c t u r e : The basic organization of the company, its departmentsreporting lines, areas of expertise and responsibility .

3. Systems: These are formal and informal procedures that govern everyday activity,covering everything from management information systems, through the systems atthe point of contact with the customer.

SHARED VALUE:

The interconnecting center of McKinneys model is Shared Values. What does the

organization stands for and what it believes in. Central beliefs and attitudes. Shared values

means that the employees share the same guiding values. Values are things that you would

strive for if they were demonstrably not profitable. Values act as an organization conscience,

providing guidance in times of crises. Identifying corporate values is the first essential step in

defining the organization role in the larger community in which it functions.

Organizations main values are stated in its Vision & Mission statements. So, it is the

responsibility of every employee of the organizations to share their values. Every employee

of the organization can give their best for the achievement of those values. A role of the

vision statement is to impart to the organization. What the organization stands for and what it

believes in. the organization not only formulate and constantly reiterate values and beliefs but

also adhere to them if they are to shape people behavior in a lasting way.

STRATEGY:

Strategy defines key actions and capabilities along the major dimensions of

marketing product and services development, sales and channel distribution, business system

and processes, and management of alliances and partnerships. Strategic thinking involves the

understanding of basic economics of business, identifying ones sources of competitive

advantage, and allocating resources to ensure that ones distinctive capabilities remain strong.

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Strategys most important contribution is searching for, and redefining, context. Strategic

thinking also creates a readiness to exploit unforeseen opportunities.

SBI Strategy to tackle problems:

Leverage unparalleled network and multi-product platform. Leverage Group strength and brand loyalty. Enhance technology platform - multi delivery channels, virtual merger. Focus on Retail, infrastructure and growth oriented industries. Re-invent agricultural lending Model. Low cost funding, Re-pricing of liabilities. Expand fee income sources. Overseas expansion.

STRUCTURE:

Organizations will find that changes to processes and style inevitability require changes to

their structure. To be responsive and results oriented an organization needs to move to a

network structure. Network structure supports a responsive and result oriented organization.

The way the organizations units relate to each other, centralized, functional divisions (top

down) decentralized (the trend in larger organization), matrix, network, holding, etc.

Organization structure defines the authority, responsibility and relationship in the

organization. The organization structure mentioned below where we can observe that the

Department

ach other, centralized, functional divisions (top down) decentralized (the trend in larger

organization), matrix, network, holding, etc. Organization structure defines the authority,

responsibility and relationship in the organization. The organization structure mentioned

below where we can observe that the Departmenation is done on the basis of standard

function of the management. The structure of State bank of India Bank is as follows.

ORGANISATION STRUCTURE

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ORGANISATION STRUCTURE

G. M G.M G. M G.M G.M

Each department is controlled and guided by the head of the department. All departments

have separate manager to control activity. The structure shows how the company is able to

manage its staff and also involves everyone in the decision making process.

SKILLS:

Skills refer to distinctive capabilities of personnel or of the organization as a whole. A

skill is that for which the staff to develop appropriate new skills, for which it requires a

learning environment. If the staff managers are to acquire the skills, then there needs to be an

appropriate learning environment. One that:

Is driven by desire to realize the vision. Has a sharing culture with mutual support. Allows risk Tolerates failure, provided it is part of the learning process. Has visible recognition for success that is built on new learning.

Where skills and experience cannot be resourced or developed internally within the required

timescales then external companies will need to be retained. In short skills refer to the fact

that employees have the skills needed to carry out the companys strategy. Training and

development ensuring people know how to do their jobs and stay up to date the latest

techniques.

SYSTEMS:

The systems refers the procedure, processes and routine that characterize how

important works has to be done like financial systems, hiring, promotion and performance

MANAGING DIRECTOR

CHIEF GENERAL MANAGER

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appraisal systems, information systems. Systems require capabilities in both information

technology and in organizational process methods and controls. The capabilities are required

Recent Initiatives adopted by SBI

(a) Technology

Universal computerization of all branches of SBI Group Centralized database system Single Window Services at branches Increased ATM coverage through tie ups with other banks Centralization of international operations

(b) Business Process Re-engineering

Creation of separate SBUs to focus marketing efforts Personal Banking Agriculture Small and Medium Enterprises

Centralized credit management New credit delivery model aimed at Mid-Corporate segment lending Focus on Project Finance SBU

STYLE

Style refers to the employees shared and common way of thinking and behaving - unwritten

norms of behavior and thought. The managerial approach is more projects focused than

process focused. The management is likely mixture of self-management for customer facing

activities and task management for organizational activities. For ex: if the staff is to treat

customers as individuals, then they will need to be managed as individuals, this suggests a

self-management style.

Models for leadership:

Sharing leadership is key to the white stag philosophy of leadership because overtly

promotes the distribution of the function of the leader among the group. Competitive styles of

leadership are less and less responsive to complex society today. Participative of cooperative

styles of interaction are the keys to our future. An individuals style in interacting with others

is an outward sign of the substance within. With experience, they can really tell a lot about

peoples capabilities by looking at them, but it is better to watch them in action.

STAFF:

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Staff means that the company has hired able people, trains them well and assigned them to

the right jobs. Selection, training, reward and recognition, retention, motivation and

assignment to appropriate work are all key issues. So, it means how an organization

effectively recruits, trained their people and assigned them the right job. Total numbers of

employees at this Branch are 10 and the Bank is said to have made an excellent performanceand has been appreciated by the Chief Executives of the Bank.

(a) People

Training Lateral Recruitment Specialist recruitment for Agriculture Sector

Redeployment for Cross-Selling

(b) Recruitment Process of State Bank of India:

State bank of India follows both Internal and External Recruitment. If the suitable candidates

are available internally, through circulars a notification is sent to the employees. If

candidates are not available internally, external recruitment is followed. Sources used for

External Recruitment are mainly through Campus Recruitment, Consultancies, etc.

The recruitment has been streamlined and uniform recruitment policy and processimplemented.

Competency profiling tools are being used to strengthen the campus recruitment processand match the profiles of the employees to the need of the organization.

State Bank of India also undertakes lateral recruitment to bring new skills; competenciesand experience interest the organization and meets the requirements of the rapidly

growing business.

A six-sigma initiative has been undertaken for the literal recruitment process to improvecapabilities in this area.

The rapidly changing business environment and the challenges it posses to organizationand businesses make it imperative to continuously to enhance the knowledge and skill

sets across the organization. State Bank of India believes that building a learning

organization is critical for being competitive in product and services and meeting

customers expectations.

Special programs on functional training and leadership development to build knowledgeas well as management ability is conducted at dedicated training facility. State Bank of

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India also draws from the best available training programs and facility, both international

and domestic, to meet its training and development needs and built globally benchmarks

skills and capabilities.

CHAPTER 4

SWOT ANALYSIS

SWOT analysis is a tool for auditing an organization and its environment. It is the first stage

of planning and helps marketers to focus on key issues. SWOT analysis is an effective way of

analyzing the organization potential by identifying your strengths & Weakness, & to examine

the opportunities and threats, which may affect the organization. Carrying out an analysis

using the SWOT tool will be enough to reveal changes, which can be implemented easily, &

gain results.

STRENGTHS:

Technology is key strength, all branches will be fully networked, and that makes banka financial powerhouse.

The State Bank of India has the backing of a globally respected brand, 4,382 ATMs inIndia, which is the largest ATM network in the country. SBI ATM card holder now has

access to 7,000 ATMs

State Bank India is one of the largest issuers of ATM-cum-Debit cards in the countrywith the card base touching 7.77 million in September 2004.

State Bank of India stands one among the top bank in India and is ranked 1stin thebanks.

The State Bank of India is having well experienced, trained, most dedicated andcommitted staff, which is very much necessary for the banks.

State Bank of India provides end-to-end banking solutions under one roof. It alsoprovides AAA (Anywhere Anytime Anyhow) banking solution

WEAKNESSES:

It takes into account the current financial position and do not analyze the past financialrecords to a large extent for the sanction of the loan.

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This system is applicable to most of the segments like Agriculture, C&I, SSI, and SBF.Which is its drawback? Because one single system could not be applicable to all the

sectors. E.g. For SBF more weightage has to be given to the collaterals than the SSIs.

Tedious procedures have to be followed before advancing loans causing inconvenienceto customers.

OPPORTUNITIES:

The weightages can be reallocated to make the system better The bank can optimize the growth opportunities arising out of retail banking and small

and medium enterprises.

Global aspirations of Indian consumers and growing integration with NRIs It can attract new customers through new schemes and lessening the deposit amount on

account opening.

THREATS:

Increase in NPAs If appraiser could not evaluate Industry scenario properly If SBIs customer could not recover debts, they may go bad. So, more

emphasis has to be given on ratios like Debtors Turnover ratio, Credit

Collection Period etc., while appraising the project.

Bank is facing competition from its other Private Banks and even the Foreign Banks Changing economic policies of Govt will have impact on interest rates and reserve

ratio maintained with R B I.

Globalization has given raise to many more complications such as migration of humanresource pool, resistance to change in different Accounting Standards by its employees

and maintenance of accounts under different Accounting Standards.

CHAPTER 5

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ANALYSIS OF SBIS FINANCIAL STATEMENT

The Operating Profit of the Bank for 2010-11 stood at 25,335.57 crores as compared to

18,320.91 crores in 2009-10 registering an excellent growth of 38.29%. The Bank has posted

a Net Profit of 8,264.52 crores for 2010-11 as compared to 9,166.05 crores in 2009-10

Registering a decline of 9.84%.While Net Interest Income recorded a growth of 37.41%, the

Other Income increased by 5.72%, Operating Expenses increased by 13.27% attributable

To higher staff cost and other expenses

Earnings Per Share (EPS) = Net Profit after Tax / Equity Shares

EPS= 149542300000/634998991.

=Rs. 235.50/-

Dividends Per Share (DPS) = Dividends / Equity Shares

DPS= 19049970000/634998991

= Rs. 30/-

Current Ratio = Current Assets / Current Liabilities

=437778500000/1052483900000

=0.416

Fixed assets to proprietors funds = Fixed Assets / Shareholders fund

= 64868300000/(634999000+643510442000)

=0.1

Fixed assets ratio = Fixed assets / Total assets

=64868300000/16478982500000

=0.0039

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to the number of units owned by them. Thus a Mutual Fund is the most suitable investment

for the common man as it offers an opportunity to invest in a diversified, professionally

managed basket of securities at a relatively low cost. The flow chart below describes broadly

the working of a Mutual Fund

HDFC MUTUAL FUND 20 | Page OPPORTUNITIES AND THREATS:- a) Real Estate sector boom: The Real estate has always been one of the preferred investment

avenues for the Indian investor. And what better way for the smaller investors to participate

in this boom than to have a real estate mutual fund. AMC has to come up with the structured

products in this segment and should take competitive advantage.

b) Penetration to Rural markets: The industry has to take themselves to the local and ruralmarkets to increase the market size. Also, the cost of setting up business in bigger cities is

huge compare to smaller cities. This will reduce the AMC business cost.

c) Concentration of Corporate Investors: Mutual funds have become overly attractive tocorporate investors because of higher returns than bank deposits and ability to distribute

capital gains tax. Corporate investors account for more than 55% of the AUM (by value).It is

clear that the lack of growth in funds under management in India is because of the absence

of long term investors.Corporate investors take profits frequently resulting in destruction in

the compound growth in funds under management. Distributors are forced to pass on more

commissions to companies, while fund companies are compelled to offer funds with wafer

thin margins.

HDFC MUTUAL FUND 22 | Page BENEFITS OFMUTUAL FUND There are numerous benefits of investing in

mutual funds and one of the key reasons for its phenomenal success in

the developed markets like US and UK is the range of benefits they

offer, which are unmatched by most other investment avenues. We haveexplained the key benefits in this section. The benefits have been

broadly split into universal benefits, applicable to all schemes and

benefits applicable specifically to open-ended schemes.

1. AFFORDABILITY A mutual fund invests in a portfolio of assets, i.e. bonds, shares, etc. depending upon the

investment objective of the scheme. An investor can buy in to a portfolio of equities, which

would otherwise be extremely expensive. Each unit holder thus gets an exposure to suchportfolios with an investment as modest as Rs.500/-. This amount today would get you less

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than quarter of an Infosys share! Thus it would be affordable for an investor to build a

portfolio of investments through a mutual fund rather than investing directly in the stock

market.

2. DIVERSIFICATION The nuclear weapon in your arsenal for your fight against Risk. It simply means that you

must spread your investment across different securities (stocks, bonds, money market

instruments, real estate, fixed deposits etc.) and different sectors (auto, textile, information

technology etc.). This kind of a diversification may add to the stability of your returns, for

example during one period of time equities might under perform but bonds and money

market instruments might do well enough to offset the effect of a slump in the equity

markets. Similarly the information technology sector might be faring poorly but the auto and

textile sectors might do well and may protect your principal investment as well as help you

meet your return objectives.

3. VARIETYMutual funds offer a tremendous variety of schemes. This variet with different needs andrisk appetites; Secondly, it offers an opportunity to an investor to invest sumsacross a variety of schemes, both debt and equity. For example, an investor caninvest his money in a Growth Fund (equity scheme) and Income Fund (debtscheme) depending on his risk appetite and thus create a balanced portfolioeasily or simply just buy a Balanced Scheme.

4. PROFESSIONAL MANAGEMENT

Qualified investment professionals who seek to maximize returns and minimizerisk monitor investor's money. When you buy in to a mutual fund, you arehanding your money to an investment professional that has experience inmaking investment decisions. It is the Fund Manager's job to (a) find the bestsecurities for the fund, given the fund's stated investment objectives; and (b)keep track of investments and changes in market conditions and adjust the mixof the portfolio, as and when required.

5. TAX BENEFITS

Any income distributed after March 31, 2002 will be subject to tax in theassessment of all Unit holders. However, as a measure of concession to

Unit holders of open-ended equity-oriented funds, income distributions

for the year ending March 31, 2003, will be taxed at a confessional rate

of 10.5%. In case of Individuals and Hindu Undivided Families a

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deduction unto Rs. 9,000 from the Total Income will be admissible in

respect of income from investments specified in Section 80L, including

MUTUAL FUNDS IN INDIA AT A GLANCE The mutual

fund industry in India started in 1963 with the formation of Unit Trust of India,at the initiative of the Government of India and Reserve Bank the. The historyof mutual funds in India can be broadly divided into four distinct phases :-

Phase-IIPhase-I

Phase-IV

Phase-III Phases of Mutual Fund Industry in India

STRENGTHS: a) Wide range of products: The AMC has got good number of

differentiated products in the entire asset class. b) Consistent performance: The funds have given consistent

performance over 10 years. c) Experienced team: HDFC has fund managers with rich experience

whose consistent performance has made this AMC CRISIL level onefund house.

d) Strong Compliance: The AMC has very strong compliance of industryset rules to protect the interest of the investors.

e) Risk management team: AMC has a separate risk management teamwhich constantly monitor the risk exposure related to different fundmanagement.

WEAKNESSES: a) Restrictive reach: HDFC business is more concentrated on urban

areas. HDFC has very limited offices. b) Less Aggressive in Marketing and execution: HDFC does match the

aggressiveness required in the industry and are slow in execution

COMPETITOR ANALYSIS:- Tata Mutual Fund :- Tata Asset

Management Private Limited is very old house and is well placed in the market.

Tata Mutual Fund has AUM of Rs.21304 Crores. Size and Growth: Tata MF

opened its office in Jamshedpur four years ago. Since than it has done good

business. Tata have brand advantage in Jamshedpur, as investors trust TATA

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group. Jamshedpur which is a market of Rs 1300cr, Tata MF has nearly 10-12%

of the market share of Jamshedpur. In Jharkhand they have four offices.

Internal Structure & processes: Tata Mutual Fund has been constituted as a

trust on 9th May 1995 in accordance with the provisions of the Indian Trusts

Act, 1882 with Tata Sons Limited (TSL) and Tata Investment Corporation

Limited (TICL) as the sponsers and the settlers. The Mutual Fund was

registered with SEBI on 30th Tata Mutual Fund (TMF) has been constituted as a

Trust in accordance with the provisions of the Indians Trusts Act, 1882 and is

registered as a Trust under The Indian Registration Act, 1908. TMF was

registered with Securities & Exchange Board of India (SEBI) and commenced

operation by launching

THE FUTURE GROWTH DRIVERS:-

2010.

and Middle class expanding by 3040million every year.

emes.

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