Summer Internship Project Report on

“TO STUDY AND ANALYZE THE EMI CARD OF BAJAJ FINSERV”

IN

“BAJAJ FINSERV”

A PROJECT REPORT
Submitted by

Kazi Md. Sofik

Roll No: 21600918024

SUMMER INTERNSHIP PROJECT

Master of Business Administration

ABS ACADEMY OF SCIENCE TECHNOLOGY & MANAGEMENT

J.P. Avenue Sagarbhanga, Durgapur - 713 211,
Dist. Burdwan, West Bengal, India
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ACKNOWLEDGEMENT
I have taken efforts in this project. However, it would not have been possible without the kind
support and help of many individuals and organization. I would like to extend my sincere
thanks to all of them.

I am highly indebted to Mr. Pallav Mukherjee ( Sales Manager ) for his guidance and
constant supervision as well as for providing necessary information regarding the project &
also for his support in completing the project.

I would like to express my gratitude towards my parents & member of,

ABS ACADEMY OF SCIENCE TECHNOLOGY & MANAGEMENT for their kind co-operation
And encouragement which helped me in completion of this project.

I would like to express my special gratitude and thanks to my faculty and guide
Mr. Balaram Ghosh (HOD) who guided me in this project.

My thanks and an appreciation also goes to my friends in developing to project

and people who have willingly helped me out with their abilities.

(Kazi Md. Sofik)

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DECLARATION
I Kazi Md. Sofik student of MBA, ABS ACADEMY OF SCIENCE TECHNOLOGY &
MANAGEMENT,
Durgapur, WB-713211

Hereby declare that this project report entitled “BAJAJ FINSERV EMI
CARD” At BAJAJ FINANCE submitted is my original work.

The finding of the report are based on the information collected by me

during the study And the result embodied in this study has not been
submitted to any other university for The award of degree.

Kazi Md. Sofik

Place:

Date

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CONTENT

 What is the Bajaj Finserv EMI Network Card?

 Where can we use this EMI Network Card?
 Features and Benefits
 Documents Required for BFL EMI Card
 How to Apply for Bajaj Finserv EMI Network Card?
 How to get Bajaj Finserv EMI Network Card Offline?
 Procedure to get Bajaj Finserv EMI Network Card
 Bajaj Finserv EMI Network Card Fees & Charges
 EMI Network Card Eligibility
 Launching the ‘Bajaj Finserv Wallet’, in partnership with MobiKwik
 What is Bajaj Finserv Wallet?
 What is Bajaj Finserv Digital EMI Card?
 How to get Digital EMI Card?
 What are the benefits of Bajaj Finserv Wallet?
 What is Bajaj Finserv Digital EMI Card?
 How to get Digital EMI Card?
 What are the benefits of Bajaj Finserv Wallet?
 What is the Insta Credit Offer?
 How does the offer work?
 Bajaj Finserv RBL Bank SuperCard (Credit Card)
 Features and Benefits of Bajaj Finserv RBL Bank SuperCard (Credit Card):
 Conclusion
 Bibliography

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What is the Bajaj Finserv EMI Network Card ?
The Bajaj Finserv EMI Network Card is a unique product that helps you to convert
your purchases into easy EMIs with just a simple swipe. It acts as a pre-approved
loan in your wallet and can be used to buy your favourite electronics, appliances, furniture,
gym membership, clothes, flight and hotel bookings, etc.

Where can I use this EMI Network Card ?

We can use this card across any Bajaj Finserv partner outlets or online partner
stores to shop for 1 million+ products across categories such as television, air
conditioners, refrigerators, home appliances, furniture, clothes, accessories, travel bookings,
and medical treatments in more than 1,300 cities. This card is now
accepted across more than 60,000+ stores.

Features and Benefits

 Pre-approved loans up to Rs.4 lakh
The Bajaj Finserv EMI Network Card comes with a pre-approved loan of up to
Rs.4 lakh that you can use across any of Bajaj Finserv’s 60,000+ partner
stores in more than 1,300 cities.
 Flexible tenors
Repaying for your product is easy with flexible tenors ranging from
3 – 24 months.
 No documentation
A one-time submission of some basic documents is all you need to purchase
your products on EMI, existing EMI Network Card holders need not provide
any document at the time of purchase.
 Easy Online Shopping
Use the EMI Network Card to shop for all your favourite products
like ac, tv, fridge, smartphone,washing machine, laptop, air cooler and much
more on EMI from top e-commerce platforms such as Amazon, Flipkart, MakeMyTrip,
Yatra, Paytm, Samsung, Pepperfry, etc.
 Easy access
You don’t have to worry about carrying your EMI Network Card everywhere,
get easy access to it with your Bajaj Finserv Wallet app.

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  Nil foreclosure charges
There will be no charges if you foreclose your loan after paying your first EMI.

Documents Required
You need to submit the following documents to avail an EMI Network Card
 PAN Card
 Aadhaar Card
 A cancelled Cheque
 Duly signed ECS mandate

How to Apply for Bajaj Finserv EMI Network Card?

If you are already a customer and are eligible for an EMI Network Card, i.e. aged between
21 to 60 and have a regular income, you can apply for Bajaj Finserv EMI Network Card online
by simply logging-in on the customer portal on the website,
view all the loan related details and apply for the EMI Network Card.

How to get Bajaj Finserv EMI Network Card Offline?

You can apply for an EMI Network Card when you purchase electronics, gadgets,
and lifestyle products from our any of our partner stores like Vijay sales, Ezone,
Croma etc when you purchase on easy EMIs. You can reach out to our in-store representative
for assistance.

Procedure to get Bajaj Finserv EMI Network Card

1. Walk into any of our partner stores.

2. Select the product you want to purchase.
3. Submit some basic documents.
4. Get your EMI Network Card in your Bajaj Finserv Wallet app.

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Bajaj Finserv EMI Network Card Fees & Charges
Joining fee for Bajaj Finserv EMI Network Card: Rs. 412
Annual fees of Rs 117 (Rs. 99 + GST) is applicable to all the customers holding an
EMI Network Card. This fee will be charged once in every year on the activation
month. For example: If the card was activated in the month of August'18, then the
first annual fees anniversary will be applicable in Aug'19.

**Disclaimer: Effective 1st April 2019 annual fee of Rs. 117 (Rs. 99+ GST) will be
levied against your Bajaj Finserv EMI Network Card in the activation month.

EMI Network Card Eligibility

The eligibility for applying for an EMI Network Card is simple:

 You should be between 21 to 60 years of age.
 You must have a regular source of income.

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Launching the ‘Bajaj Finserv Wallet’, in partnership with MobiKwik
India’s first digital wallet with a credit facility will benefit over 75 Million customers
This wallet will have Digital format of Bajaj Finserv EMI card and all wallet features
powered/developed by Mobikwik
One- stop destination to view / link all Bajaj
Finserv EMI cards, transactions details and complete acceptance on the entire
ecosystem for Bajaj Finserv and Mobikwik.

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MOBIKWIK AND BAJAJ FINANCE LTD ENTER INTO A STRATEGIC
PARTNERSHIP TO OFFER A UNIQUE PROPOSITION
New Delhi, October 10th 2017: Heralding a new era of Indian digital finance, MobiKwik has entered into a
strategic tie-up with one of the largest
non-banks in India – Bajaj Finance Ltd, to launch India’s first debit and credit wallet. Through this association,
Bajaj Finance Ltd will extend credit facilities through MobiKwik’s innovative mobile app catering to the wide
customer base of both the companies. The partnership will empower consumer to avail credit facility through
the wallet enabling them with instant purchases and payment option.

In a first of its kind in India, this strategic tie-up, will extensively use “mobile first” technology to offer
credit facility to consumers and millennials who are fuelling a growing demand of digital wallet transactions
that has grown phenomenally especially after the landmark demonetisation initiative announced by
Government of India in November 2016. The Industry estimates that Mobile wallet service will contribute up to
30 percent share in mobile payment volume transactions in FY 2017.

Commenting on the partnership, Rajeev Jain, Managing Director, Bajaj Finance Limited said, “We aim to
combine the synergies of both the organizations – deep rooted customer analytics and extreme focus on
digital-oriented eco-system will make this a disruptive proposition amongst our existing products. Bringing in
debit and credit option in one app will facilitate stronger customer convenience, stimulating higher spends.”

Announcing the association, Bipin Preet Singh, CEO, Mobikwik, said

“Our partnership with BFL will enable us to realise our vision of performing all the functions of bank yet retain
our core competency of being India’s leading e-wallet and we strongly believe that this combined value
proposition will attract millions of new customers to choose wallet led mobile banking transactions. In short
MobiKwik transforms itself as a new-age bank where our digital transactions will lead to lowering of lending
rates and increased supply of money in the Indian economy”.

New Delhi, October 10th 2017: Bajaj Finserv, through its lending arm Bajaj Finance
Ltd, today announced the launch of its mobile application ‘Bajaj Finserv Wallet’, in strategic partnership with
MobiKwik, India’s largest issuer-independent digital financial services platform. The Bajaj Finserv Wallet app,
powered by MobiKwik, is India’s first wallet that offers all the features and benefits of the Bajaj Finserv EMI
card creating a cost-effective, secure and personalized ecosystem.

The Bajaj Finserv wallet is available to all existing and new customers of both the brands - Bajaj Finserv and
MobiKwik. The wallet offers a combined value-proposition to the customers by enabling them to access their
Digital EMI cards, make and collect payments, pay bills, book bus tickets, avail offers, search nearby stores etc.
instantly and seamlessly on a real-time basis. Currently, Bajaj Finserv has 9.8 million EMI card customers and an
overall franchise of 21.69 million customers, while MobiKwik has a 65 million customer base.

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Speaking at the launch Rakesh Bhatt, COO, Bajaj Finance Ltd, said, “We are delighted to introduce a disruptive
proposition that will enable our customers to enjoy the features of the Bajaj Finserv EMI card, along with the
ease and benefits of a wallet app. This is a strategic step for us to complete our payment ecosystem, thus
enabling exponential customer experience and giving them additional means to pay the way they want”.

Announcing the association, Upasana Taku, Co-founder, MobiKwik, said, “India’s fast paced journey to
becoming a cashless nation today received another push with the launch of country’s first credit wallet.
The Bajaj Finserv-MobiKwik wallet will allow users to fulfil their buying needs on credit and have an even
cheerful festive season.”

We believe that collaborations will play a huge role in our evolution into a leading digi-finance platform,
and by 2022, MobiKwik will be empowering a billion Indians with one tap access to payments, savings,
investments and lending. The company is today impacting 260 million lives, she added.

The Bajaj Finserv Wallet comes pre-loaded with Digital EMI card which means that the customers no longer
need to carry a physical card. It increases security against any fraudulent transaction and makes it easy to
block or unblock the card, increasing the ease of transaction. The Bajaj Finserv Wallet app enables customers
to make digital payments across India on MobiKwik’s 2 million+ merchant network and Bajaj Finserv’s
distribution network of more than 33,000 outlets on ‘No Cost EMI.' It also provides nearby capability search
option which indicates the nearest Bajaj Finserv’s distribution point or the closest Mobikwik Merchant Network
outlet across categories like gadgets, clothes, travel, groceries and small appliances, power backup, holiday
packages, accessories, education, watches, etc.

The Bajaj Finserv wallet also combines the benefits of the EMI card and MobiKwik wallet with built-in features
like user preferences, geotagging through customer location, product prioritization, a robust search engine for
products, brands & dealers and their outlets.

Bajaj Finance Ltd has recently subscribed to 10 equity shares and 271,050 compulsory convertible preference
shares (CCPS) for a consideration of approximately ₹2,250 million. This investment in MobiKwik is intended to
support Bajaj Finance Ltd’s existing lines of businesses and to be used to develop front-end application for
users availing financial services.

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What is Bajaj Finserv Wallet?
Bajaj Finserv Wallet is a mobile application to enable customers to access their Digital EMI Network Cards,
make & collect payments, pay bills, book travel tickets, check offers, find out nearby stores and much more,
instantly with the click of a button. It is powered by India’s leading mobile payment system and digital wallet
company – MobiKwik

What is Bajaj Finserv Digital EMI Card?

EMI Card refers to Existing Member Identification Card. The Digital EMI card is a non-physical EMI card which
will be pre-loaded on the Bajaj Finserv Wallet app as “Digital EMI Card”. It can be used to make the transactions
across the network of BFL merchants.

How to get Digital EMI Card?

1.Customer can download Bajaj Finserv Wallet app from playstore/app store.
2.Customer can download Bajaj Finserv Wallet app from the link: which can be obtained after giving missed
call to number 9278066666

Steps to Login & See Digital EMI Card on App:

1.After installing app, customer has to enter mobile number which is registered with Bajaj.
2.One-time password(OTP) will be sent to the same mobile number; customer has to enter OTP.
3.After OTP verification, a popup of Congratulations will come. Then customer has to click ‘Know more’.
4.App will ask Date of birth (DOB). Customer to enter the date of birth registered with Bajaj.
5.Customer will see Digital EMI card(s).After OTP verification, if customer is not able to view the window to
enter the DOB, the customer can access Digital EMI Card by clicking Bajaj
Finserv logo - ‘B’ at the Home-screen of the app.

What are the advantages of having Bajaj Finserv Digital EMI Card against a
physical card?

A wallet with pre-loaded Digital EMI card will free the customer from carrying physical card Increased security
against fraudulent transactions. Will make easy to block/unblock the card.
Increased ease of transaction and all these with different features of a digital wallet.

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What are the benefits of Bajaj Finserv Wallet?

1.Easy finance access and minimal documentation

2.Single window for cards and historical transactions
3.Easier & quicker service possibilities (no need to store any other number or email)
4.Complete control of cards
5.Offers and nearby stores

What is the Insta Credit Offer?

The Insta Credit is an exclusive offer available to select customers. Under the offer,
our EMI Network Carded customers would be allowed to transfer an amount of
either Rs. 3,000, 5,000 or 10,000 from their EMI Network Card to their Wallet
balance with a click of a button.

How does the offer work?

It is as easy as it can get.
• Click on the offer display in the Bajaj Wallet app
• Select the loan amount from either Rs. 3,000, 5,000 or 10,000
• Accept the terms and conditions
• Tap on ‘Add InstaCredit’
• Your selected loan amount will be credited instantly in your Bajaj wallet

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 Fees & charges for Wallet (Insta credit)

Foreclosure charges(Only 2% on Loan outstanding amount as on date plus the

after 1st EMI payment) applicable taxes.

Part payment 2% on part payment amount of Loan outstanding amount on

charges(Only after 1st EMI the
payment) date plus the applicable taxes.

Bounce charges of the In case of default because of the repayment instrument(s)

repayment instrument(s) being dishonoured, BFL shall chargeRs.450/- (Incl. taxes)
(Rupees Four Hundred Fifty Only) per month/per
default towards its dishonour.

Rate of Interest Insta credit of Rs.5000 -: 28% (p.a)

Insta credit of Rs.7000 -: 19% (p.a)
Insta credit of Rs.10000-: 13% (p.a)

Penal Interest/Amount In case of delay in payment of Monthly Instalment, BFL shall

charge penal interest of Rs.150/month (incl. taxes) on an
amount of Monthly Instalment outstanding as on that date.

Bajaj Finserv RBL Bank SuperCard (Credit Card)

Bajaj Finserv RBL Bank SuperCard is more than just a credit card. The SuperCard, as the name suggests, is
loaded with super features that not only takes care of your everyday cash needs, but is also a dependable
financial friend in an emergency. The innovative and industry-first features of this SuperCard make it stand
out from other credit cards in the market.

Features and Benefits of Bajaj Finserv RBL Bank SuperCard (Credit Card):
Cash withdrawal from ATMs

There may be circumstances, where you need to swipe your credit card at ATMs to withdraw cash. In most
cases, the moment you withdraw money using a credit card from ATMs, you must pay an interest on the
amount withdrawn. Also, there is a transaction fee levied each time you use your credit card at ATMs. Hence,
you could end up paying hefty charges on withdrawing money from ATMs using your credit card.

But when you use the Bajaj Finserv RBL Bank SuperCard to withdraw money from an ATM , there is no interest
levied for up to 50 days. There’s only a flat processing fee of 2.5%.

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Avail an emergency loan:
There are occasions where you need to avail an emergency loan. And here’s where the Bajaj Finserv RBL Bank
SuperCard comes to your aid.

As a SuperCard holder, you get a pre-approved limit. When required, you can convert this limit into an interest-
free loan against credit card and get instant cash up to 90 days. Only a flat 2.5% processing fee is charged.
The entire process of converting the limit into a loan is fast and hassle-free. You can do so with the
SuperCard mobile app.

Easy EMI options:

Repayment is one of the prime concerns, after you’ve availed a personal loan. Repaying the personal loan
availed through Bajaj Finserv RBL Bank SuperCard (Credit Card), is extremely easy. You can repay the loan in
3 EMIs. As only a flat 2.5% processing fee is charged, the EMIs are competitive and affordable. Thus, you don’t
have to dip into your savings and impinge on other financial goals while repaying the loan.

These innovative industry-first features make Bajaj Finserv RBL Bank SuperCard (Credit Card) one of the most
powerful credit cards in the market.

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 Business update .
Consumer Lending
BFL's unique Existing Member Identification (EMI) card, with over 18.5 million cards in operation, enables
customers to avail instant finance after the first purchase. In FY2019, EMI card enabled BFL to finance over
11.5 million purchases, across all sales finance categories, viz. consumer durables, digital products, lifestyle
products, lifecare, e-commerce and other retail spends versus 6.75 million in FY2018, a growth of 70%

BFL’s lifestyle finance business financed approximately 481,000 transactions, which represented a growth of
52% over FY2018. As part of its product expansion strategy, the Company extended its offerings in the health
care segment for elective and non-elective procedures in FY2018. This initiative has resulted in health care
offerings contributing over 19% of lifestyle finance business. To further the health care financing business and
facilitate hassle free processing of loans to customers, BFL has recently introduced a ‘Healthcare EMI Card’.

Partnerships and Services

In partnership with various financial service providers, BFL offers the following products to its customers: life
Insurance, health insurance, extended warranty, comprehensive asset care, co-branded credit card, co-branded
wallets and financial fitness reports. BFL’s co-branded credit cards business in partnership with RBL Bank
continued to grow strongly in FY2019. The number of cards-in-force stood at over one million as on 31 March
2019.BFL continued to grow its co-branded wallet business by providing EMI cards to its customer in digital
format. It launched India’s first H 5K and H 10K loan on its co-branded wallet and has disbursed over 242,000
loans in FY2019

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CONCLUSION
The entire two months of the internship was a learning experience. A lot of ups and downs
came in the path of project completion but the end results were very promising. Company
seems to be doing quite well and its customer’s base seems satisfied. It has a lot of potential
in this sector only if it is able to tap the untapped market and do more market penetration.

This can be brought about by promoting its products and services and making people more
aware of the benefits of. Also it can have some flexibility in its procedures so that the
consumers feel more at home with the company. The company and the process of completing
the file can be easier if the sales executive and the managers cooperate each other in their
work. The managers must know the problem of their sales executive and the problems arising
the stores of Bajaj finserv. I came to know about the work culture in Bajaj finserv through this
project. There were too many learning like how manage your employees and manage them
and help them is working.

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BIBLIOGRAPHY
 www.bajajfinserv.in
 www.mobikwik.com
 Annual Report Bajaj Finserv 18-19

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