Executive Summary:
This study contains the study of PECHS
Branch of National Bank of Pakistan
.
This is the age
of specialization; every person must be capable in his/her particular field.
Some practical experience is necessary to enter the field because only
education given in the universities is not enough to compete with the world
wide changing situation. The field work is difficult and complicated. This is a
good reason why the students of bachelors are being given a fair chance to get
the practical area in which students have to enter after completing education.
Internship is a vital part of any
degree program. This report is a result of six week performance in the
form of internship at National Bank of Pakistan, PECHS Branch Karachi.
Experience was full of
knowledge regarding various facets of banking sector. This report consists of
practical experience, which I achieved during internship program.
At the
commencement of internship at NBP,
I was aware of what I am going to learn and observe. People usually use to say
that practical works is quite different from books or what has been educated in
colleges and universities. In real life, one has to get in touch with public,
and how to deal with them, it’s not taught in colleges and not in books even.
It’s what you get through practical work when you enter in market.
All the information in this report
is based upon my observation, interviews and practical involvement in different
tasks during my internship at NBP
This report is being divided into
various sections:
First is introductory portion which
relates to introduction of the Banking sector, the strong banking sector is the
back bone of the economy of any country. One aspect of this powerful force is
government policies and foreign investments. The banks provide lending,
borrowing, safety, availability and transferability of the resources to its customers in a better way. Then describe the brief history of the NBP that it was established on November 9, 1949 as a semi
public commercial bank. And now Alhamdulillah, NBP
has established more than 1537 branches in all over the country. In this
portion it is also describe that it is a public limited company listed in
Karachi Stock Exchange (KSE),
Islamabad Stock Exchange (ISE), and Lahore Stock Exchange (LSE). Its business
volume and its products that it offers different types of products such as NBP Karobar, NBP
Advance Salary, NBP Saiban, NBP Kisan Dost, NBP
Cash n Gold.
In the next portion of
Organizational Structure, Organizational Hierarchy chart, how many employees work
in the organization, the location of the main offices of the organization such
as the head office of the NBP at Karachi and major branches
are in almost all big cities of the country. Introduction of all departments of
the organization is described.
In next step, I portrayed the Plan
of my internship program and then introduce the branch where I did my
internship. And Names of the
departments in which I got training those are, Account Opening, Clearing,
Advances and loans ,pension and Remmittance
At end, report shows training
program in detail i.e. detailed description of the operations/activities of the
department(s) I worked in and also the detailed description of the tasks
assigned to me and how I was performed them.
.
In the last, the SWOT analysis,
final Recommendations & Suggestions are given to overcome faults &
troubles that are being faced by National Bank of Pakistan.
The analysis is prepared by Tazeen Ayub
Contents
:
Brief introduction of the organization’s business sector
A bank is a
financial institution and is licensed by Government. To provide the financial
services to its customers is the primary activity of any bank. Bank enriches
its investors. Financial activities like investment funds and taking part in
financial markets is done by banking sector.
Financial
institutions, like in Germany,
banks have possessed large stakes in industrial businesses but in some other
countries like US
banks are not allowed for possession of non financial companies. Banks are the
link of a cross share holding entity called “ZAIBATSU”.
Government
regulations level of banking sector varies broadly from country to country,
like ICELAND who is having comparatively light regulations of banking business.
Whereas countries like CHINA who have large variety of rules and
regulations but have no systematic process that can be followed typical of a
communist system.
The banks
services were very poorly exaggerated At the time of independence in 1947 and
by June 30, 1948, the number of offices of scheduled banks came down to only 81
in the territories comprising Pakistan; but there were following 14 scheduled
Pakistani commercial banks with 3323 offices all over the Pakistan and 74
offices in foreign countries by December 31, 1973.
- National Bank of Pakistan
- United Bank Limited.
- Punjab Provincial Cooperative bank limited.
- Habib bank (Overseas) Limited
- Muslim Commercial Bank Limited.
- Bank of Bahawalpur Limited.
- Standard bank Limited.
- Australasia bank limited.
Overview of organization
Brief history
“One way to keep momentum going is to have
constantly greater goals”
At the freedom
of Pakistan the banks services were badly affected by the political conditions
of the country and banks were not working according to the mark, in order to
cope with the crisis conditions which were developed after trade deadlock with
India and devaluation of Indian rupee National Bank of Pakistan was established
on November 9, 1949 as a semi public commercial bank under the National Bank of
Pakistan. The main purpose of the National Bank of Pakistan at its initial stage is to
extend credit to the agriculture sector.
At that time the crises were on their peak so the main purpose of
National Bank of Pakistan
was to face the problems that had arisen with regard to financing of jute
trade. National Bank started its functions on November 20, 1949 with its very important eight
jute centers in the East Pakistan. Mr.Ghulam Farooq was announced the
first chairman of Jute Board and Mumtaz Hassan was announced the
first chairman of National Bank of Pakistan. National Bank of Pakistan
was remained totally under the Jute Operations till 1950. The first M.D of the
National Bank of Pakistan
was Mr. M.A. Muhajir. In 1952 Governor of State Bank of Pakistan decided to replace Imperial Bank of India by National Bank of Pakistan.
By becoming Mr. Mumtaz Hassan the MD of NBP,
the number of branches, deposits and the number of employees had increased
significantly as compare earlier, it was all happen by the great struggle of Mr.
Mumtaz Hussan. In Dec. 1966 its 600th branch was opened raising the deposits to
2.31 billion, and staff to 14, 963. Up to 1965, the shareholders had received
225% of their original investment. Now it has more than 21549 employees 1537
branches and Rs.208283 million deposits.
National Bank Pakistan has a matchless position in the
financial sector of Pakistan.
It is the agent of the Stats Bank of Pakistan where it has no its own
Branch. The National Bank of Pakistan
is the largest Commercial Bank of Pakistan and transacts all types of
Banking Business. The Head Office of the Bank is at Karachi.
National Bank
of Pakistan
is the first bank in the country to introduce and implement supervised Ruler
Credit Programmed help small farmer to obtain loans at his doorsteps on easy
terms and conditions. It has also played a pioneering role in introduction of
profit and loss sharing System (PLS) as a major towards Islamization of
economy.
While it
continues to act as trustee of public funds and as the agent to the State Bank
of Pakistan (in places where SBP does not have a presence) it has diversified
its business portfolio and is today a major lead player in the debt equity
market, corporate investment banking, retail and consumer banking, agricultural
financing, treasury services and is showing growing interest in promoting and
developing the country's small and medium enterprises and at the same time
fulfilling its social responsibilities, as a corporate citizen.
NBP is 100%
owned by the Government of Pakistan (GOP).
Vision
“To be recognized as a leader and
a brand synonymous with trust, highest standards of service quality,
international best practices and social responsibility.”
Mission:
NBP will aspire to the values that make NBP truly the Nation’s Bank by:
Æ Creating
a distinctive brand identity by giving the highest principles of services
Æ Institutionalizing
a merit and performance culture
Æ Adopting
the best international management practices
Æ Discharging
our responsibility as a good corporate citizen of Pakistan and in countries where we
operate.
Æ Maximizing
stake holder’s value
Nature of the organization
National Bank of
Pakistan is a banking organization, a public limited company listed in Karachi
Stock Exchange (KSE), Islamabad Stock Exchange (ISE), and Lahore Stock Exchange
(LSE).
NBP Product lines:
ATM / Debit
Cards
Protection
Shield Insurance
Remittance
Facilities
Advance Salary
(Personal loan)
Cash and Gold
(loan Secured against Gold)
SME / Commercial
Financing
Trade Finance
Facilities
Current,
Savings, Term, Foreign Currency Accounts
Kissan Dost
Taquat (Agriculture)
NBP Saibaan
(Housing Finance)
NBP Karobar
(Micro Finance)
Commodity
Finance
Investor
Advantage (Margin Financing)
NBP Premium Aamdani
NBP Premium Saver
NBP Karobar
|
Cash Management
/ Financial Institutions
Treasury
Services to Government
Islamic Banking
Products
Finance / Credit
Facilities
Loan Syndication
Structured
Finance
Project Finance
Financial
Advisory Service
Investments /
Participations
Proprietary
Equity Trading
NBP Cash n Gold
NBP Kisan Taqat
NBP Kisan Dost
NBP Pak Remit
NBP Protection Shield
NBP Saiban
NBP Advance Salary
NBP Cash Card
NBP Investor Advantage
|
Detail of some of
products is as follows:
D
PREMIUM
SAVER (your saving reward)PLS Saving Account:
D
NBP
SAIBAAN(Home Financing)
D
NBP
ADVANCE SALARY(Personal Loan)
D
NBP CASH AND
GOLD(Ready Cash against Gold)
D
AGRICULTURE
FARMING PROGRAM
D
NBP CASH
CARD
D
NBP
INVESTOR ADVANTAGE
D
NBP
KAROBAR MERA APNA KAROBAR
D
PREMIUM
AAMDANI (Unprecedented safety, unprecedented return)Monthly income scheme
D
NBP'S
INTERNET BASED HOME REMITTANCES SERVICE
D
NBP
PROTECTION SHIELD
Services Offered By NBP
Corporate
Finance
Working Capital
and Short Term Loans
Medium Term
Loans and Project Financing
Loan Structuring
and Syndication
Cash Management
Service
International
Banking
Disbursement of
Pensions (EOBI)
Musharika
Ijara
Mudarba
PLS Term
Deposits
PLS Saving
Accounts
Current Accounts
Demand Drafts
|
Utility Bills
Provincial
Collections
Sale and Purchase of
Prize Bonds
Foreign
Remittances
National Income
Daily Account (NIDA)
Commercial
Finance
Agriculture
Financing (Medium to Long Term)
Letters of
Credit
Traveler’s
Cheque
Pay Orders
Mail Transfers
Government
Treasury Functions
Government
Receipt and Payments
Farm Credit
|
Detail of some services
is as follows:
Æ
DEMAND
DRAFT
It is a simple, safe,
rapid and reliable way to shift money. For the transformation of the money an
individual has an account in the bank or not can purchase it from any branch of
NBP at very affordable rates.
Æ
MAIL
TRANSFERS
One can move
one’s money safely and quickly using NBP Mail Transfer service. NBP also
offer the most competitive rates in the market.
Æ
PAY ORDER
Another reason
to move money from one place to another by using NBP’s services is Pay
Order. The charges of this service are very reasonable. Pay orders of NBP
are a safe and straightforward way to shift money from one place to
another.
Æ
LETTER OF
CREDIT
NBP is faithful
to present its industrial clients the widest variety of options in the part of
money move. If someone is interested then Letter of Credit service by NBP
is a service for business enterprise and it is fulfill the necessities of
commercial enterprises. With rational rates, safety, and easiness of
transaction, NBP Letters of Credit are the best way to do business
transactions.
Æ
MAIL
TRANSFER
It is faster
mode of transfer money than demand draft. Mail transfer is the inter city
transfer of money between two branches of a bank, through mail/currier.
Æ
PAYMENT
ORDERS
If the customer
or account holder wants to make payment within the city, then this is done
through P.O. It can’t be cancelled without the consent of both parties.
Organizational Structure
Organizational Hierarchy chart:
NBP’s Hierarchy
is a follows:
Number of employees
In Overall
Organization=15204
In PECHS branch=50
Main offices
The Head Office of the National Bank of Pakistan is at Karachi. NBP carries on its business all the
way through a wide set up of branches those are situated in the country and out
of the country very professionally and in point of fact. All branches execute
their functions under the rule of local Regional Offices and regional offices
are proscribed by the Head Office situated a superb building in the heart of Karachi’s center.
NBP has a wide domestic branch network consist of more than
1500 branches situated in all over the country. NBP has also more than 24
branches out of the country
SINDH
In the Sindh the
main offices of the NBP are in the
following cities;
Ø
Karachi
Ø
Dadu/ Sanghar
Ø
Hyderabad
Ø
Jacobabad/ Shikarpur
Ø
Larkana
Ø
Mirpurkhas/ Badin
Ø
Nawabshah/ N' Feroze
Ø
Sukkur/ Khairpur
Ø
Tharparkar
|
PUNJAB;
Punjab has the main offices of
the NBP in the following cities;
Ø
Lahore
Ø
Faisalabad
Ø
Karachi
Ø
Sialkot/
Narowal
Ø
Islamabad
Ø
Jhang
Ø
Jhelum/
Gujrat/ Chakwal
Ø
Bahawalpur
Ø
D.G. Khan/ RYKhan
Ø
Multan/
Baha'nagar
Ø
Murree/ Attock/ Gilgit
Ø
Rawalpindi
Ø
Sahiwal
Ø
Sargodha/ Sheikhupura
|
NWFP’
In the NEFP main offices are in
the following cities;
Ø
Peshawar
Ø
Abbott Abad
Ø
D.I. Khan
Ø
Kohat
Ø
Mardan
|
BALUCHISTAN;
Main Branches of NBP are in
the following cities;
Ø
Queta
Ø
Azad Kashmir
Ø
Muzaffarabad
Ø
Mirpur
|
NBP REGIONAL OFFICES;
Ø
Karachi
(South)
Ø
Karachi
(West)
Ø
Hyderabad
Ø
Larkana
Ø
Sukkur
Ø
Quetta
Ø
Gawadar
Ø
Lahore
(Central)
Ø
Lahore
(East)
Ø
Karachi
Ø
Sialkot
Ø
Faisalabad
Ø
Jhang
Ø
Sargodha
Ø
Multan
|
Ø
Bahawalpur
Ø
Dera Ghazi Khan
Ø
Sahiwal
Ø
Federal Capital Islamabad
Ø
Rawalpindi
Ø
Jhelum
Ø
Gujarat
Ø
Peshawar
Ø
Mardan
Ø
Dera Ismail Khan
Ø
Abbott Abad
Ø
Muzaffarabad (A.K.)
Ø
Mirpur (A.K.)
Ø
Gilgit (sub-region)
|
NBP OVERSEAS BRANCHES
America and Europe Region
1)
USA
2) Canada
3) Germany
4)
France
|
Far East
Region
1)
Hong Kong
2)
Japan
3)
South Korea
4)
China
|
Middle East, Africa & South Asia Region
1)
Bahrain
2)
Egypt
3)
Bangladesh
4)
EPZ
|
Central Asian
Republics
1)
Afghanistan
2)
Turkmenistan
4)
Kazakhstan
5)
Uzbekistan
6)
Azerbaijan
|
Subsidiary;
|
Joint Venture;
|
Representative Off;
|
Introduction of all departments
Following are
departments in NBP:
- Deposit Department
- Account Opening Department
- Bills Remittance Department
- Cash Department
- Clearing Department
- Credit Department
- Government Department
- Foreign exchange
1. Deposit Department
The
following types of ledgers are concerned with deposit department:
Ø
Saving Ledgers
Ø
Current Ledgers
Ø
Profit and Loss Sharing Ledgers
Ø
Fixed Deposit Register
Ø
Cash Book
Ø
Daily Profit and Loss Summary Book
Ø
Voucher Register
2. Account Opening Department:
This department
is related to open new accounts of the customers and infect opening of an
account is the establishment of the relationship between the bank and customer.
branches. Following are the types of accounts open in the NBP;
Ø Current
Ø PLS SNTDR
Ø PLS saving
Ø FC
Ø PLS term
Ø Premium saver
Ø BBA
Ø Call deposit
3. Bills Remittance Department
Remittance means
transfer money from one place to another place.
NBP provides
The following
are the main functions of this department. Remittance can take place in three
different ways.
Ø Demand Draft
Ø Mail Transfer
Ø Telegraphic
Transfer
4. Cash Department
The most
important section in the bank is Cash Department..
The following
books are maintained in the cash department:-
Ø
Receiving Cashier Books
Ø
Token Book
Ø
Paying Cashier Book
Ø
Scroll Books
Ø
Cash Balance Book
5. Clearing Department
Following are types of cheques collected for
clearing:
Ø Clearing
cheques
Ø Transfer
cheques
Ø Collection
cheques
.
6. Credit Department;
Credit
Department is associated with other three departments related to financing i.e.
Ø
Trade Finance
Ø
Ijarah
Ø
Corporate Banking
7. Government Department;
Payment of
pension also is being done by this department. Department of Government section
receives all the provincial and central receipts. NBP makes payments to
following:
Ø
Retired officers of Armed forces
Ø
Civilian
Ø
Retired officers of PAF and families
Ø
Defense civilian pensioners
Ø
Others ( KRL, OGDC, PAEC/ PR, RANGERS)
Documents
required for the pension payments:
Ø
Pension payment order
Ø
No and date of NIC
Ø
Pension book
Ø
Photographs of the pensioner
Ø
Two specimen signature, thumb and finger
impression.
Plan of your internship program:
A brief introduction of the branch where you did your internship
I preferred to
do my internship at National Bank of Pakistan
the reason was that it is largest and leading commercial banks of Pakistan
and I want to continue my learning at well reputed organization which would be
productive both for the organization and me as well. NBP is responsible to provide
all services to its customer. .
When I joined
the bank, I had no practical experience with regard to working of a regular
bank. Then I got an opportunity from the university authorities to join and
work with NBP to get experience of the rules and regulations that bank follows.
I left the bank
with a thirst to learn more. I seek a chance in order to survive in a banking
environment.
The working and
learning environment of the bank is very valuable and high quality.
.
I started my
internship in National Bank of Pakistan on 17th May 2012. I worked there for 6
weeks. My internship ended on 30 June 2012
Names of the departments in which you got training and the duration of your training
During the short
time period of my internship in National Bank of Pakistan, I was given a chance to
work in following four departments of the bank;
- Remittance Department
- Account Opening Department
- Government /pension Department
- Loans &Advances
- Clearing Department
- Foreign exchange
- Cash department
- FBR department
The purpose was to give
me a close look of the whole working of a banking institution. I spent 1 week
in each department to learn more and more from the appointed staff; it’s really
a wonderful learning experience.
Training program
I have covered following departments in NATIONAL BANK
OF PAKISTAN PECHS branch karachi.
- Remittance Department
- Account Opening Department
- Government /pension Department
- Loans &Advances
- Clearing Department
- Foreign exchange
- Cash department
- FBR department
ACCOUNT OPENING DEPARTMENT
The opening of
an account is the establishment of the banker customer relationship. By opening
an account at a bank a person becomes a ‘customer’ of the bank.
ACCOUNT OPENING AT NBP;
As the opening
of an account is of crucial importance for a bank, great care should be taken
in this matter. NBP has specified the rules and procedure for opening on
account which are strictly abide by all its branches.
RESPONSIBILITIES OF ACCOUNT OPENING DEPARTMENT;
Following are
the responsibilities of the account opening department;
ü
Account opening
ü
Documentation at the time of opening of an
account
ü Issue cheque book
ü
Closure of an account
ACCOUNT OPENING;
. NBP has
following categories of accounts:
ü
Individual Account
ü
Joint Account
ü
Minor Account
ü
Sole proprietor Account
ü
Partnership Account
ü
Company Accounts
ü
Accounts of the Welfare/ Societies/Clubs/ NGOs
DOCUMENTATION:
Each one of
these account has different requirements with regard to the documentation. But
the documents which are common in all these categories are:
ü
Computerized National Identity Card (CNIC) of
the applicant
ü
Introducer - the person should be the account
holder of the NBP (same or any branch) from last six month and maintaining his/
her account regularly.
INDIVIDUAL ACCOUNT;
This category is
further bifurcated into following sub-categories:
ü
Business Account
ü
Student Account
ü
Salaried Person
ü
Household Women
JOINT ACCOUNT;
Any number of
persons can open a joint account. Every person is required to fulfill the same
requirement as mentioned under the head of the individual account in the
personal capacity.
SOLE PROPRIETOR ACCOUNT;
Ø
NTN No. – which should clearly mention the
business name, client name and address of the business place
Ø
Request for the account opening on the Letter
head of the business
Ø
Business stamp
PARTNERSHIP ACCOUNT;
Ø
NIC of all partners
Ø
Partnership deed attested by the Notary Public
Ø
NTN certificate
Ø
Form- C (if partnership is registered)
Ø
Rubber stamp according to following format
COMPANY ACCOUNTS;
Ø
NIC’s of all the directors
Ø
Rubber stamp according to their designation
Ø
List of director attested by chief executive
Ø
Resolution of the board of director to open bank
account (on bank format)
Ø
Form 29 duly attested by SECP:.
MINOR ACCOUNT;
Ø
CNIC of Guardian
Ø
Business/ Employment Proof of Guardian
Ø
Bay Form/ Birth Certificate duly original seen
by Attorney holder
Ø
Date of majority of the minor should be
mentioned on AOF & SSC
Ø Only personal
information of guardian on AOF. No information of minor on AOF.
Ø
No signature of minor on account opening
documents
Ø
Title of account should
GUARDIAN
WILL OPERATE THE ACCOUNT EVEN IF MINOR ATTAINS MAJORITY.
|
Guardian can
operate the account after majority of the minor as mentioned in the stamp.
Ø
Resolution (Name & signature of authorized
signatories along with CNIC numbers and operating instructions)
Ø
CNIC
Ø
By- laws
Ø
Registration certificate
Ø
List of governing bodies
Ø
Legal opinion
Ø
Approval form Area Manager and System
Operations.
TYPES OF ACCOUNTS;
CURRENT ACCOUNT;
Here are some
features of the current account offered at NBP
Ø
Non interest bearing checking account.
Ø
Minimum account opening requirement of Rs.10,
000 only.
Ø
Free debit card can be used to withdraw cash and
make purchases at thousands of outlets across Pakistan.
Ø
This account can be opened in foreign currencies
also.
PLS SAVINGS ACCOUNT;
This account
helps the customer to earn a handsome amount on their saving. Any one or more
individuals or partners can open a PLS saving account with the Bank.
Ø
Profit & Loss Sharing Saving Bank
Account.
Ø
Minimum account opening requirement of Rs.5, 000
only.
Ø
No restriction on number of withdrawals and
number of deposits.
Ø
Profit on PLS saving account is calculated on
minimum monthly balance basis.
Ø
Profit on saving accounts is credited to the
customer account on half-yearly basis.
PROCEDURE OF ACCOUNT OPENING;
A. ACCOUNT OPENING FORM;
The first step
in the procedure of opening an account is the filling of Account Opening form.
At NBP the account opening form is titled as the Relationship Contract. It
contains all the requisite information needed to open and operate an account
according to the specified rules and regulations.
CONTENTS OF ACCOUNT OPENING FORM;
The following
details are required to furnish the Relationship Contract.
- TITLE OF ACCOUNT:
- ACCOUNT NUMBER:
Ø
Current Account
Ø
Saving Account
Ø
Royal Profit Account
Ø
Basic Banking Account
Ø
USD Account
Ø
Euro Account
Ø
Pound Sterling Account
3. PERSONAL INFORMATION
4. NEXT OF KIN
5. ADDRESS FOR THE CORRESPPONDET
6. CORPORATE ACCOUNT
7. TYPE OF ENTITY
8. NATURE OF THE ACCOUNT
9. CURRENCY OF ACCOUNT
10. DETAILS OF THE TERM, NOTICE
& CALL DEPOSIT
11. ZKAT DEDUCTION INSTRUCTION
12. INSTRUCTION FOR OPERATION OF
ACCOUNT
13. INTRODUCER’S DETAIl
14. DECLARATION
15. TERMS & CONDITIONS
GOVERNING THE ACCOUNT
After filling
the Relationship contract the bank officer asks the required documents from the
customer as mentioned above in case of each entity. The necessary verification
is done.
- VERIFICATION OF THE CNIC
- SIGNATURE DIFFERNET FROM CNIC
- SIGNATURE SPECIMEN CARD
- ACCOUNT OF THE ILLETERATE PERSON
- APPLICATION FOR THE ON-LINE ARRANGEMENT FOR CLEARING/TRANSFER/CASH TRANSACTION
- KNOW YOUR CUSTOMER (KYC)
LETTER OF THANKS:
After this
process a letter of thanks is sent to the customer in order to verify that the
address provided by him is correct. But if the customer chooses the ‘Hold Mail
Facility’ then no letter of thanks is sent to him.
ISSUANCE OF CHEQUE BOOK:
- FIRST TIME ISSUE OF THE CHEQUE BOOK
Ø
PERSONALIZED CHEQUE BOOK:
Ø
BLANK CHEQUE BOOK:
- REISSUANCE OF CHEQUE BOOK
- CHARGES FOR THE ISSUANCE OF NEW CHEQUE BOOK
- LOSS OF THE CHEQUE BOOK
CLOSING OF ACCOUNT;
There are number
of reasons, why an account is closed. Some of most common reasons are mentioned
below:
At the client’s
own request
Death of account
holder
Bankruptcy of
account holder
GOVERNMENT DEPARTMENT
Government
Department is very important section of the Bank because it is responsible for
any penalty imposed by SBP due to the negligence / non completion of work /
books and balancing. All officers monitor all heads of Govt. Section for well
in time reporting in monthly, quarterly, annual return to controlling office..
GOVERNMENT RECEIPTS;
Government
receipts means collection of the following
Ø
Income tax
Ø
Property tax
Ø
Sales tax
Ø
Traffic challans
Ø
Court fine
Ø
Old age receipts
GOVERNMENT PAYMENTS;
Government
payments include;
Ø
Salary payments
Ø
Pension Payments
Department of
Government section receives all the provincial and central receipts.
NBP makes
payments to following:
Ø
Civilian
Ø Defense civilian
pensioners
Ø
Retired officers of Armed forces
Ø
Retired officers of PAF and families
DOCUMENTS REQUIRED FOR THE PENSION PAYMENTS:
Ø
Pension payment order
Ø
No and date of CNIC
Ø
Two specimen signature, thumb and finger
impression
Ø
Photographs of the pensioner
Ø
Pension book
Officer enters
them in a ledger to keep permanent record.
DOCUMENTATION;
Ø
Disburser portion of the PPO is filed in serial
No and kept in lock and key with accountant.
Ø
All particular of PPO are entered in PPO
register.
Ø
The first payment is made to pensioner after
proper identification. In case any clarification staff referred the pensioner
to general accountant or Head office.
CLEARING DEPARTMENT
The basic
function of clearing department is to provide services to customers in
collection of their cheques of other banks, whether they are in city or outside
the city.
TYPES OF CHEQUES
COLLECTED BY THE CLEARING DEPARTMENT;
a) TRANSFER CHEQUES
Transfer cheques are those cheques,
which are collected and paid by the same branch of bank.
TYPES OF CLEARING
Clearing department
deals with the two type of the clearance;
These are stated
below:
1) - Outward
clearance
NEXT DAY PROCESS
FOLLOWING REQUIREMENT FULFILL
Þ
Check all the stamp required
Þ
Check balance of particular account
Þ
Check the Drawer ‘signature
Þ
Check the cheque post dated or out dated
Þ
Check amount in words and figures
Þ
Advice received from issuing Branch
Þ
Payment stopped by the drawer
PROCESS OF CHEQUE RETURN (S.C)
Commission
charges (sample format)
Sr. No.
|
A/c No
|
Amount
|
Commission
|
FED
|
Postage
|
Total
|
Net Amount
|
1
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
2
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
3
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
4
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
5
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
6
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
7
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
0.00
|
|||||||
TOTAL
|
0.00
|
350.00
|
21.00
|
525.00
|
896.00
|
896.00
|
CLEARING SECTION TABLES USED TO KEEP RECORD
.
cheques to the
drawer’s account holding branch to clear the amount of the cheque. cities.
SUMMARY
At the end of
the day our branch receives a fax from the State Bank of Pakistan Head Office
Karachi. The debit and credit amounts given in the fax must match with the
amounts in the clearing summary of our branch.
This summary
contains the balances of clearing received and clearing delivered amounts.
At the end a
hard copy of input table, ordinary inward, ordinary outward, responding
entries, same day clearing, intercity clearing and summary are kept as record
in the files.
Recommendations:
- Regulatory authority is highly needed concerning the disciplinary matters.
- A committee of senior qualified expert staff should be physically present at bank to receive complains by customers and catch the guilty person red handed.
- Complain box should be such that no one can bring the compliant papers out of box.
- As only head office deals the pension, so this branch should provide facilities to specially old aged pension holders to increase its good will.
- Security cameras should be technically alright and latest.
- Branch must review its strategy whenever any new entrance in market is visible and whenever any product comes in market as substitute product of the products of NBP.
- NBP should introduce deposit mobilization products.
- A check and balance should be imposed on all employees
- A handsome amount of fine should be charge to the guilty employees.
- training session should be held at different intervals in a financial year to make employees more competent and get a competitive edge overall
- Rules and regulations should be applied to all employees even to the top management in any way.
- Account opening, loan issuing and some other procedures should be more convenient and flexible.
- Make sure tat all employees follow rules and regulations
Reference & Sources used
National bank web site www.nbp.com.pk
Orientation books of NBP
www.scribd.com
Conflict management
Human relations
Organizational development
And customers of NBP
Sr. No.
|
A/c No
|
Amount
|
Commission
|
FED
|
Postage
|
Total
|
Net Amount
|
1
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
2
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
3
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
4
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
5
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
6
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
7
|
50.00
|
3.00
|
75.00
|
128.00
|
128.00
|
||
0.00
|
|||||||
TOTAL
|
0.00
|
350.00
|
21.00
|
525.00
|
896.00
|
896.00
|
Commission charges of
ATM
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