ali raza by syed zia
TRANSCRIPT
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INTERNSHIP REPORT ONUNITED BANK LIMITED
SYED ALI RAZA963
Submitted in partial fulfillment of the requirements for the degree of bachelor of BusinessAdministration
At
National University of Modern LanguagesIslamabad, Pakistan
December 2009
Copyright by Syed Ali Raza, 2009
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National University of Modern Languages
Faculty of Management Sciences
It is hereby certified that the report has been thoroughly and carefully read and recommended
to the Faculty of Management Sciences for acceptance of Final Internship Report. by SYED
ALI RAZA, Roll No. 963, Session (Jan 2006 to Dec 2009) Morning, in partial fulfillment of
the requirements for the degree of Bachelor of Business Administration of National
University of Modern Languages Islamabad.
Dated
.
Supervisor Name ___________________________
Supervisor Signature ________________________
Panel Member Name ________________________
Panel Member Signature______________________
Head of Department: _____________________
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ACKNOWLEDGMENTS
I thankAlmighty Allah who bestowed upon me the knowledge & courage to
fulfill these tasks. No efforts in making this report are definitely mine they are the gift,
blessings & mercies of Mighty Allah.
I owe a debt of gratitude to my university national university of modern languages & the
entire professional faculty specially my supervisor Muhammad Zia-ur-Rehmanwho was so
generous with his time & expertise to make me a professional business student. My deep
appreciation & heartiest thanks goes to all of them for their careful attention, unfailing
courtesy, and professional support.
This was my first chance to study the work and management of an organization so closely
where I came across real joy of proud amicable employees as their promotions and trusted
retirements. I have come across the practical approach of work and policies related to my
subject. The whole experience gained during my internship period related to my subject.
I hope UBL Bankwill stand by its leading role in banking sector and will move for further
distinguish marks.
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DEDICATION
I dedicated to my parents who always love me
and all of
Those who care about me and have soft corner
for me in
their Heart.
Executive summary
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Banking started in Pakistan after the bold and emergent decision of formulation
of SBP on July 30, 1948. Thereafter this sector has witnessed enormous growth. In 1974
banks were nationalized, in the hope that new era of growth could be achieved through it.
However the process is reverse since 1991, up till now UBL, ABL, & MCB have been
privatized and HBL is the process of its privatization.
UBL offers its services through a wide network of branches all over Pakistan & overseas
branches as a part of global network. UBL has taken progressive steps & has introduced
innovative products and services to provide customers a variety of banking and financial
services.
SWOT stands for strengths, weaknesses, opportunities & threats. It is a common approach to
make assessments in terms of internal and external environment of the organization, and to
formulate strategies analyzing its internal strengths and weaknesses, external opportunities
and threats coming up is the SWOT analysis for the UBL.
Recommendations are considered to be the most important part of an internship report,
without which no report is considered complete and meaningful. This part of the report is
based on the previous sections i.e., review and analysis.
Table of contents
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Title page #
Acknowledgment.i
Dedication....ii
Executive summary.iii
Table of contents.iv
Chapter 1 Introduction
1.1 Banking History......................................................................................................01
1.2 Introduction of UBL Bank Limited........................................................................02
1.3 Mission Statement..................................................................................................03
1.4 Vision Statement.....................................................................................................03
1.5 Core Values.............................................................................................................03
1.6 Objectives Of UBL Bank Limited..........................................................................04
1.7 How Challenges be Delivered................................................................................05
1.8 Products and Services.............................................................................................05
1.9 Field of Activities...................................................................................................07
1.10 Corporate information..........................................................................................10
Chapter 2 Departments
2.1 General banking department...................................................................................13
2.2 Privilege banking department.................................................................................26
2.3 Credit department...................................................................................................28
2.4 Foreign currency department..................................................................................31
Chapter 3 SWOT Analysis
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SWOT Analysis............................................................................................................33
3.1 Strength..................................................................................................................33
3.2 Weaknesses............................................................................................................35
3.3 Opportunities..........................................................................................................37
3.4 Threats....................................................................................................................37
Chapter 4 Internship Experience
Internship Experience...................................................................................................39
4.1 What I learn............................................................................................................39
4.2 Critical Analysis.....................................................................................................52
4.3 Things I wish had been known to me before starting my internship.....................55
4.4 Skilled I used and newly learnt skills.....................................................................56
4.5 Things I want to do differently in future................................................................57
4.6 What I think my fellow student should know about the work I did.......................57
4.7 My internship's influence on my career plan.........................................................57
Recommendations ..58
Conclusion...................................................................................................................60
References....................................................................................................................61
Annexes62
Chapter 01
Introduction
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years with the development of UBL Bank, which is not only defining priorities and focus
of the banks, but also threatening the domination of traditional players.
Our mission is to serve all your corporate needs and ensure your full satisfaction through
product innovation, personalized banking, and top notch service.
The CGB department of UBL defines corporate banking in Pakistan.amongstt the local
banks UBL CBG is the pioneer in providing innovative solutions to its diversified and
satisfied customer base.UBL CBG is considered to be a major player in the financial
market of Pakistan.
The corporate banking group focuses on attracting and servicing large portfolio
customers. Our forte is providing exemplary customer service using the single window
concept & product superiority. The relationship managemaaent team manned highly
qualified individuals from the industry has steadily expanded our customer base &
continues to enhance our relations with our esteemed clients
an innovative team of professionals having extensive experience of Corporate Banking
gives UBL's appetite for large exposures coupled with dedicated Structured Finance Unit,
and it the right platform to succeed in todays competitive and a demanding environment.
The success of CBG has been established from the fact that UBL received the 'No.1
Euro-money 2000' Best Local Bank award and recognized it to have out performed all
other banks. In year 2000, UBL was also voted as the best Corporate Bank by the
customers of a major foreign bank in a survey. Aggressive marketing combined with
professionalism has led to an increase in UBL's market share with top corporate
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customers and in some cases replacing Foreign Banks. Presently, its portfolio includes
the quality names in the country, which were initially confined to foreign banks only.
1.3 Mission Statement
To be the leading private sector bank in Pakistan with an international
presence, delivering quality services through innovative technology, an effective resource
management. In a modern and progressive organization culture of meritocracy, maintain
high ethical and professional standards, with providing enhance value to all our
stakeholders, and contributing to society.
1.4 Vision Statement
To be the leading bank in the region.
1.5 Core value
The intrinsic values, which are corner stones of UBL corporate behavior, are:
Commitment
Integrity
Fairness
Team-work
Service
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1.6 Objectives of the UBL Bank Limited
As UBL Bank looks ahead to the future by moving through the decade of the 1990's its
efforts are guided by a broad framework of corporate objectives, which are as follows:
UBL is committed to its identity of security & trust and will endure to uphold
this image at all the times.
It will endure to provide its customers with as many creative financial services
and products, as is required. As today customer demands a package of services
suited to his particular business, UBL plans to develop different and new products
to cater to the customer's demand. UBL Bank has they strength to be a market
leader.
Bank will keep standing and by and develop, its human capital base. It is planning
to provide all the required training to its staff towards achieving a higher level of
professionalism. UBL will continue striving to build a strong, motivated and
dedicated work force where total commitment will be towards customer's
satisfaction and wealthy growth of organization.
UBL Bank will endure to provide a competitive return to its shareholders and will
strive to maximize its share value. The enhancement in its capital and returns will
be a continuous process.
UBL Bank is interested in being one of the most financially viable institutions. So
it lays great emphasis on gradual building up to a healthy deposit mix. In the years
ahead, the bank will enhance its focus on growth through operational efficiency,
creating strategic alliances developing well-structured networking system
innovating new products, enhancing marketing and sales efforts improving
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Smart Cash
Ask Car (Car Finance)
Ask Card Travelers Cheques
Ask Power
Value plus
UBLMaster Card
Global Acceptability
24-Hour Customer Service
Low Service Charges
Zero Loss accept liability
Supplementary Cards For Your Loved Ones
Cash Advance Facility
Balance Transfer Facility
Free Travel Insurance
Rawal Lounge Facilities
Discount At Avari Hotels
Agriculture Banking
UBL Kissan Agriculture Finance Program
UBL Kissan Ever Green Finance
UBL Kissan Tractor Finance
UBL Kissan Aabpashi Finance
UBL Kissan Livestock Development Finance
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UBL Kissan Farm Mechanization Finance
UBL Kissan Farm Transport Finance
Islamic Banking Services
Islamic Corporate Banking
Islamic Investment Banking
Islamic General Banking
Islamic Consumer Banking
1.9 Field Of Activities
The bank basically works under three groups named as:
Corporate Banking and Financial Institutions Group
Retail Banking Group
Operations and Credit Group
1-Corporate Banking and Financial Institution Group
This group is responsible for serving the needs of large corporate clients in
public and private sector, managing correspondent banking relationships and undertaking
money market transactions. The group is organized in three divisions namely
Corporate and Merchant Banking Division
International Division
Treasury
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2-Retail Banking Group
Retail banking group was formed in 2000, this group is responsible for
serving the needs of the retail market. Focusing on individual consumers and small and
medium size enterprises, for purpose of product differentiation, the group is managed in
three business arms.
Investments products unit
Asset products unit
Credit cards division
3-Operations and Credit Group
A support function group mainly responsible for development of systems and
procedures, process re-engineering, automation and credit management. The group is
organized in three divisions:
System and Operations Division
Electronic Technology Divisions
Credit Division
Human Resource Division
Strategically, perhaps the most important division at the head office is
responsible for human resource management, including recruitment staff training and
evaluation. The division also handles matters relating to administration. This division
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operates on future oriented strategy focusing on employees personal and professional
growth.
Staff development activities are geared to enhance their capabilities for applying the
knowledge and facts towards development of practical situations. Staff is given on the job
as off-site training in diverse areas of banking and management. Our hiring philosophy is
based upon meritocracy and selecting the right person for the right job. We lay greater
emphasis on employees honesty and integrity besides technical competence. Candidates
are selected through well defined and systematic selection procedure.
Finance Division
Responsible for bookkeeping and accounts, this division at head office,
prepare all financial return and the MIS through its management-reporting wing. The
division is actively involved in preparing market comparative analysis, consolidation of
bank's budgets, its monitoring and constant review of various financial indicators.
The budgetary performance are constantly reviewed and through a sophisticated monthly
performance report which is a computer based program, the division provides feed back
to the senior on strategic issue like reasons for budgetary variance and methods to arrest
negative performance factors. Preparing the bank's annual accounts and coordinating
external audit is also a direct function of the finance division.
Audit Division
The audit division reports directly to the board through the executive
committee, which is also the audit committee. The audit division is completely
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independent of the management and is responsible for checking and reporting on the
management compliance with the boards policies and directives, as also the prudential
regulations and other directives of the SBP. The division is responsible for eV bank's
operations with the goal of improving the effectiveness of risk management and internal
control.
1.10 Corporate Information
Chairman
Lt. Gen. Imtiaz Hussain
Chairman Executive Committee
Lt. Gen. (R) Zarrar Azim
President & Chief Executive
Mr. Shaharyar Ahmad
Directors
Brig (R) Muhammad Shiraz Baig
Brig (R) Asmat Ullah Khan Niazi
Brig (R) Muhammad Bashir Baz
Brig (R) Shaukat Mahmood Chaudhari
Mr. Zafar Alam Khan Sumbal
Mr. Kashif Mateen Ansari
Mr. Muhammad Najam Ali
Mr. Muhammad Afzal Munif
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Company Secretary
Mr. A. J. Mubbashar
Audit Committee
Chairman
Brig (R) Asmat Ullah Khan Niazi
Members
Brig (R) Muhammad Shiraz Baig
Mr. Kashif Mateen Ansari
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Chapter 02
Departments
Banking procedures are divided between various departments. Different
departments do their jobs in occurrence with the bank policies. In UBLbank Limited each
branch is divided into various departments. Head of department manages each
department & officials of the branch follow procedures.
The departments working within a branch are as:
General Banking
Account opening department
Remittances department
Cash department
Clearing department
Privilege Banking Department
Online banking
Lockers
Credit Department
Forex Department
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Import department
Export department
Foreign currency department
Accounts Department
IT- Department
2.1 General Banking Department
1-Account Opening Department
Functions of Account Opening Department
Providing account opening form according to the customer's requirements
Guide the customer about the requirements of the account opening and form
filling
Check the forms whether they are correctly completed or not
Preparing checklist
Stamping on the form
Maintaining account opening register
Pasting of forms in register after release from general banking in charge
Issuance of cheque books
Issuance of accounts maintenance certificate
Closure of account
Verification of signature in case of cheque presented before releasing of account
opening from SS card is not yet scanned
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Importance of Introduction
For A\C Opening
Introductory references as soon as a person opens an account with the bank, the
banker customer relationship is established. In such situation this is advisable the banker
should not open new accounts of unknown persons unless references regarding the
integrity and responsibility of the purposed persons are obtained from respectable parties.
Failure to exercise this care may result in serious consequences not only for the banker
concerned but also for the other bankers and general public. It is not sufficient to obtain
the reference but its genuineness must also be verified. Omission of this may have serious
consequences.
Precautions to Avoid Fraud
If preliminary necessary inquiries mentioned above are not made and account
is opened, it is possible that an undesirable person is provided with a chequebook to
defraud innocent people or the person being an undercharged bankrupt may put the
banker in difficult situation.
Safeguard against Unintentional Overdraft
Sometimes due to misreading of the balance an account may be inadvertently
overdrawn or the credit entry of customer is placed into the account of another person by
mistake who happens to have withdrawn that amount. In all such cases the amount can
only be realized if the person is man of integrity.
Inquiries about Customers
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Private Service, business are not acceptable, rather specify what type of
company/business the customer is associated with for example Manager Philips Electrical
Company.
Address
Enter the complete business/residential address. With in the brackets you may also
provide prominent address identification marks for ease of physically locating the
address.
Contact Numbers
Enter home, official, mobile, fax number and e-mail address (if available). Banker can
verify the number by giving the customer a courtesy call or by sending him an e-mail.
Other/ Secondary/ Mailing Address
Some customer may volunteer their parents or siblings addressor second home address
or a mailing address other than a permanent address.
Special Instructions
Clear-cut special instructions must be obtained from customers. If the customer has not
given any special instruction specified column must be cancelled by drawing a line, as
this column must not be left blank in any circumstance.
Existing/Other Bankers
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ith and without negligence. Almost most all the bankers usually have a banking
relationship with another bank. In case of customer who does not have an existing
banking relationship, or does not want to disclose the existing relationship, then it is
strongly recommended that at least for some time this particular account must be kept
under observation.
Types of Accounts
Accounts of General Customers
Minor Account
Illiterate Person Account
Joint Account
Account of Special Persons
Proprietorship Account
Partnership Account
Limited Companys Account
Accounts of Club Societies and Associations
Agents Account
Trust Account
Liquidators Account Executers and Administrators Account
2-Remittance Department
Functions of Remittances Department
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All pay order shall be crossed" payees account only"
Charges on issue of Pay Order
Amount (Rs) Charges (Rs)
Less then 100,000 50
Above 100,000 Nil
Duplicate Pay Order:
Check the record to insure that payment has not been effected
Get application for issuing of duplicate PO
Recover charges
Issue duplicate pay order
Demand Draft
It is an instrument on demand for which value has been received, issued by the
branch of the bank drawn i.e. payable at some other place (branch) of the same bank. In
case of agency arrangement- demand draft can also be issued by one branch of the bank
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payable to other branch of the other bank e.g. DD issued by UBLbank Limited payable
by MCB.
Charges on issue of Demand Draft
Amount (Rs) Charges (Rs)
1 - 10,000 25
10,000 100,000 50 or .1%
100,000 - 1000,000 200 or .07%
Over 1000,00 1000 or .05%
Pay Slip
The bank for settlement of it own payment issue pay slip.
No excise duty
No commission
3-Cash Department
All physical movement of cash in the bank is made through the cash department.
Normally cash department performs following functions.
Receipt
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Payments
Act according to any standing instructions
Transfer of funds from one account to another
Handling of ATM
Verification of signatures
Posting
Handling of prize bond
4-Clearing Department
Meaning of Clearing
The word clearing has been derived from the word Clear and is defined as a
system by which banks exchange cheques and other negotiable instruments drawn on
each other within a specific area and thereby secure payment for their clients through the
Clearing House at specified time in an efficient way.
Since clearing does not involve any cash etc. and the entire transaction take place
through book entries, the number of transaction can be unlimited.
No cash is needed as such the risk of robbery, embezzlements and pilferages are
totally eliminated.
As major payments are made through clearing, the banks came manage cash
payments at the counters with a minimum amount of cash in vaults.
A lot of time, cost and labor are saved.
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Since it provides an extra service to the customer of banks without any service
charges or costs, more and more people are inclined and attracted towards
banking.
Clearing House
It is a place where representatives of all banks sit together and interchange their
claims against each other with the help of controlling staff of State Bank of Pakistan and
where there is no branch of State Bank of Pakistan the designated branch of National
Bank of Pakistan act as controlling member instead of State Bank of Pakistan.
Membership Ceases
It ceases to be a scheduled Bank
It is not able to meet its liabilities
State Bank of Pakistan or Central Govt. prohibits it to receive fresh deposits
Rules and Regulations Have Clearing House
Timing:(Monday through Saturday)
i. 1st Clearing at 10:00 a.m.
ii. 2nd Clearing at 2.30 p.m.
Each bank will send competent representative to exchange the cheques.
Each bank is required to insure that all cheques and other negotiable instruments
are properly stamped and suitably discharged.
An objection memo must accompany each and every cheque when return unpaid
duly initialed.
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Each bank is required to maintain sufficient funds in the principal account with
SBP to meet the payment obligations.
The State Bank of Pakistan debit the account of each member of the
clearinghouse with the proportionate working expenses incurred on the operation
of clearing house. These expenses are very nominal.
Outward Clearing at the Branch
The following points are to be taken into consideration while an instrument is
accepted at the counter to be presented in outward clearing:
The name of the branch appears on its face where it is drawn.
It should be stale or post dated or without date.
Amount in words and figures does not differ.
Signature of the drawer appears on the face of the instrument.
Instrument is not mutilated.
There should be no material alteration, if so, it should be properly authenticated.
If order instrument suitably indorsed and the last endorsees account being
credited.
Endorsement is in accordance with the crossing if any.
The amount of the instrument is same as mentioned on the paying-in-slip and
counterfoil.
The title of the account on the paying-in-slip is that of payee or endorsee (with the
exception of bearer cheque).
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If an instrument is in order than our bank special crossing stamp is affixed across the
face of the instrument. Clearing stamp is affixed on the face of the instruments, paying-
in-slip and counterfoil (The stamp is affixed in such a manner that half appears on
counterfoil and paying-in-slip). The instrument is suitably discharged, where a bearer
cheque does not require any discharge and also an instrument in favor a bank not need be
discharged.
The instrument along with pay-in-slip is retained while the counterfoil is given to the
customer duly signed. Then the following steps are to be taken:
The particulars of the instrument and the pay-in-slip or credit voucher are entered
in the outward clearing register.
Serial no. is given to each voucher.
The register is balanced; the credit vouchers are balanced from the instruments
and are released to the respective departments against acknowledgement in the
register.
The instruments are arranged bank wise.
The schedules are prepared in triplicate, two copies which are attached with the
relevant instrument and the third is kept as office copy.
The house page is prepared from schedules in triplicate.
The schedules and house pages are signed by the house in charge with branch
stamp.
The grand total of the house page is taken and agreed with that of the outward
clearing register.
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The instrument along with duplicate schedule and house page are sent to the main
office.
However the amount is kept in float till final status of various instruments is known from
respective paying banks in second dealing.
The entry of the instrument returned unpaid is made in Cheques returned register. If the
instrument is not to be presented again in clearing then a covering memo is prepared. The
covering memo along with returned instrument and objection memo is sent to the
customer who sent the same to his account.
Inward Clearing of the Branch
The particulars of the instruments are compared with the list.
The instruments are detached and sort out department wise.
The entry is made in the inward clearing register (serial no. Instrument no.
Account no. is written).
The instruments are sent top the respective departments.
The instruments are scrutinized in each respect before honoring the same.
Outward Cheques Returned Unpaid
These are the cheque returned unpaid by us in inward clearing due to some
objections.
Inward Cheques Retained Unpaid
These are the cheques retained unpaid to us which were lodged by us in
Outward Clearing.
Return of Cheques after Clearing House
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Suppose all cheques received in the inward clearing are passed and later on it is
found that a cheque should have been returned, in such cases, contact the collecting
branch and request them not to make payment against the proceeds of the cheque which
was not returned unpaid by us in due time. The cheque with objection memo along with a
covering letter is sent to the collecting branch, making request to issue a payment order in
favor to balance the Cash-cum-day book we may debit suspense account sundry debtors
with the approval of the manager. When the payment order is received, it is lodged in
clearing and suspense account, sundry debtors is adjusted accordingly.
Special Clearing
In addition to the normal clearing function at Clearing house it is mutually
agreed to hold an extra clearing at the clearing house on the particular day and time
which is known as special clearing it is arranged due to the rush of work arising out of
say, more holidays declared by the Central Govt. at a time, but normally special clearing
is held on last working day of our half yearly and yearly closing i.e. 30th June and 31st
Dec. every year.
2.2 Privilege Banking Department
1-Online Banking
Online banking means that the customer of UBL Bank Limited can deposit /
withdraw funds in / from other branches of UBL Bank Limited. UBL Bank provides
online facility to all its branches.
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Online Charges
Amount of Deposits Charges ( Rs)25,000 or below 50
25,000 - 200,000 100
200,001 - 500,000 250
500,001 - 2000,000 500
Above 2000,000 750
2-Lockers
UBL Bank offers facility of lockers to its customers.
There are three sizes of lockers available:
Charges
Size of lockers Rent of locker (Rs) p.a.
Large 2500
Medium 1500Small 1000
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2.3 Credit Department
Although the study of money is important for the understanding of the way in
which our economic system operates, we must recall this point that most exchange
transactions in this system are carried on today without the use of actual money, i.e.
Those are carried on by means of credit and credit instruments rather than money. While
money still forms the basis of credit and deferred payments, it is necessary to examine the
nature of credit operations, and the instruments and institutions trough, which these
operations are carried on, in considerable detail.
The Nature of Credit
On the surface, credit operation appears to be of many kinds, but they all have
a fundamental similarity. In credit transactions, one party to the transaction, the creditor,
turns over to the debtor a certain amount of money, commodities or services at the
present time and relies on the debtor to repay an equivalent amount, usually the money in
the future plus interest at some future time.
The Basis of Credit
There has been much discussion, concerning the essential basis of credit or
borrowing operation. Some writers on the subject have stoutly insisted that confidence is
the basis of all grants of credit that if one did not have confidence that the borrower
would repay a loan one would never thinks of making the loan, save on grounds of
friendship of philanthropy.
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Others have held property, rather than confidence is the basis of all genuine credit
transactions. Some insist that character is the essential factor, while still other writers
have indulged in a propensity of alliteration by sating that the bases of credit are
character, capital and capacity, or the man and the means, or reliability and resources.
Types of Credit
The verities of credit may be classified in numerous ways- according to the
status of debtor, according to the status of the creditor, according to the time for which
the credit is granted, and so on; but the most fruitful classification usually indicates the
use to which the credit is put.
Public and Private Credit
In the first place, a distinction is usually made between public and private
credit. Public credit comprises the promises to pay off governm goods in the present in
return for promises to pay in future; and private credit refers to the promises to pay all
non-government debtors. Among the sub-classes of private credit, the most significant
are band credit, commercial credit and consumption credit.
Band Credit
In Comprehends all kinds of promises to pay off banking institutions,
including demand deposits, time deposits, notes, bankers, acceptances, cash, letters of
credit, debentures, and bonded obligations. Frequently, the term bank credit is restricted
in use to refer only to the demand deposit liabilities of the commercial banks, and one
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must constantly be on guard to recognize the employment of the term in this restricted
sense.
As a sub-class of bank credit, central bank credit is of outstanding importance in modern
monetary system it includes the central bank's circulating notes and its deposit liabilities,
the better consisting chiefly of the reserve balances of the commercial banks.
Investment Credit
The credit structure, business if found upon examination to consist very
largely of two forms of credit. Investment credit is extended through loans, the proceeds
of which are put into the fixed assets of a business enterprise. If the owners of business
cannot themselves furnish all of the capital necessary for investments in land, buildings
and equipment. Obviously what they need is loans of capital running over a considerable
period of years.
Commercial Credit
In addition to seeking credit in long term investment in fixed assets, most
business periodically ask for credit in the form of short term loans. Commercial credit is
business supplier for current business operations, such as manufacturing and marketing of
goods. It often take more business capital than business can themselves supply to pay for
raw materials, to make the outlays for wages and to carry inventories of finished goods
until they can be converted into cash. To help finance such operations short-term loans
usually running from thirty days to six months are negotiated. Commercial loans like
investment loan must ultimately be paid out of accumulated earnings of a business. But if
the business earnings are of immediate future, such loans can be safely made and
promptly paid. Commercial loans are base done quick assets, such as raw material and
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Requirement of Funds Transfer
For transfer of fund in foreign currency, a person must have his account in
foreign exchange in the bank.
Requirement of account opening is $500 or any other currency equivalent to $500.
Types of currency Interest p.a.
Dollar .25%
Pound sterling 2%
Euro 1%
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Chapter 03
SWOT Analysis
An analysis indicating towards the organizations strengths, weaknesses,
opportunities and threat is termed as Swot Analysis. Such an analysis is very important
for the management in retaining the strength, overcoming the weaknesses, capitalizing
over the emerging market opportunities, and carving ways to successfully tackle with the
threats and ultimately converting them in the strengths for the organization.
During six weeks of my stay at UBL Bank Limited, Chaklala Scheme 3
Rawalpindi, I have come across the following Swot Analysis of the
bank.
3.1 Strengths
Automatic Operations
The operations performed by the bank are highly automated that result in
assurance for the customers that their transactions are completed reliably, efficiently and
securely.
Full Day Banking
One can avail the benefit of the services provided at the bank till 5:00 P.m.
which is highly useful for those customers who find it difficult to leave their officers in
the morning.
ATM Network
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The bank has the largest ATM network across the country. The customers of
UBL Bank withdraw access their funds any time at all the ATM sites with ASKCASH
Logo.
Customized Solutions
The management of the bank believes in customer focused banking rather than
the product oriented banking. The products and services designed by the bank are
specifically tailored to the individual needs of its customers.
Customer Oriented Banking
The priority banking centres of the bank offer an unmatched where the customer
receives highly privileged services in a highly elegant environment. It gives the chance of
experiencing new standards in banking. Designed specially for those who appreciate only
the finest things in life, Priority Banking offers the very highest levels of personalized
banking to match customers unique status.
Electronic Banking
The revolution in the banking in the form of electronic banking operations
have opened avenues of excellent, efficient and quick services saving the time and
costs of the customers and fortunately UBL Bank Limited is among those few
banks who are already reaping the benefits of electronic transactions. Electronic
Funds Transfer
UBL Bank Limited management is quite prepared to adopt the latest advancements in
technology resulting in revolution in the banking operations such as check clearing
process, computer based teller equipment, automatic teller machines, and electronic funds
transfers among the others.
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Phone Banking
Phone banking service is very attractive for those classes of customers who
dont have time to personally come to the bank i.e. banking on the phone line thus saving
the precious time of the customers.
Ethical Concerns and Public Image
The organizations showing concern for the people, ethics, and environment
enjoy good public reputation and are able to reap the benefits in the long run. UBL Bank
Limited management is quite sensitive to this issue.
3.2 Weaknesses
In my opinions these are the points that might be detrimental to the efficiency
and profitability of the bank.
Manual Book-Keeping
Although the bank has computerized accounting system but, still the bankers use
to make their entries in the accounting register.
Low Job Satisfaction
Understanding and the effective management of the human resources is the
most difficult challenge faced not only by the bank but by all the organizations. Even
though the people have been sacrificed in the new organizational developments, it is
becoming clear that the true lasting competitive advantage comes through human
resources and how they are managed. UBL Bank Limited seems to not focusing on this
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highly critical issue as the job satisfaction level of the employees working at UBL Bank
was quite low.
Lack of Specialization
This famous and useful concept given by Adam Smith in 1776 seems to be
missing in the bank. The employees are constantly rotated from one job to another job of
totally different characteristic in the view of giving them the know-how of the working in
all the departments.
Centralization
There is a high degree of centralization in the bank. Almost all the decision-
making is in the hands of the upper management. But centralization is effective up to a
certain level otherwise it becomes inefficient and at times costly too. I personally
observed that delay occurred in the operations of the employees only due to the fact that
they had not got any instructions from the head office.
Lack of Training Facilities
Presently there is no specific training program arranged for the new recruiters.
They have to learn based on their observations and also their mistakes. It takes a bit time
for the fresh one to learn the banking the result is huge amount of blunders, mistakes etc.
resulting in monetary and non-monetary losses for the bank. There is pressure not only on
the new learner but also on the person placed upon with this responsibility.
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3.3 Opportunities
The bank is facing the following threats and opportunities currently.
These are positive external environmental factors effecting the organization.
It deals in bulk business
A large amount of foreign investment is attracted
Strong potential for growth
Steady increase in Customer Deposits
Overseas Operations
Branches In Remote Areas
Islamic Banking
Sharp increase in imports and exports
3.4 Threats
High Charges
The schedules of charges indicate that the fees charged by the bank on the
various services it provides are extremely high. It may result in decrease in the number of
its existing customers. Further more, this could be very alarming situation for the bank in
case some of the competitors grasped the opportunity and lowered its rates. The result
would be either the lost of market share or decrease in the charges resulting in lowering
the banks income.
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Less Attractive Rate of Return
Commercial banks face considerable competition in attracting deposits from
individuals or small investors. In contrast, the Govt. of Pakistan national saving scheme
offers attractive rates of return (approx. 16 to 18 percent annually) on 10-15 year fixed
accounts, which banks find difficult to match.
Less Experienced Staff
Owing to huge turnover of the employees, the no. of experienced and well
trained staff is very low. Majority of the staff working in the bank branches is quite
young and inexperienced. If the bank failed to bring down its high employees turnover,
then it would be lacking the most important resources of any organization i.e. the
experienced staff.
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Chapter 04
Internship Experience
One of the most important aims of the student life is to express herself correctly
and adequately. This was the believe in my mind when I first decided to go to UBL Bank
to complete my internship program. Determined, Confident and Persistent in the pursuit
of knowledge and learning, I was on my way to UBL BankLimited, Chaklala Scheme 3Market Branch Rawalpindi in the early morning of July 9, 2007.
4.1 What I Learned
First Week
I started my internship from "General Banking" in the first week. The General
banking is basically divided into the following sub departments, which are as follows:
Account Opening
Bills and Remittances
Clearing
Term Deposit
Cash Department
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The first day of exposure to the practical field was at the (sub department) Account
opening.
The relationship of customer starts with this department. Every one is not allowed to
come and open an account in the bank, for this purpose there should be an introducer who
himself is the account holder in the same branch. He has to introduce the new client by
signing the opening account form and then his signature is verified.
Applicant's fills the account opening form and provides it to the bank with photocopy of
I.D. card and signatures card.
Then the banker inquiries the about the option of opening a joint account or individual. If
the customer wants to open joint account then either it is "either or survivor" (i.e. only
one persons signature is sufficient) or jointly (i.e. both should sign the cheque).
Account Opening
Although the procedure of opening an account in a bank is a quite complicated
job but I am going to tell you only the basic necessities for opening the account, which
are as follows:
Introduction
National I.D. card
Personal data
Details of dealing with other banks.
These are some of the basic requirements for opening the account.
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Second Week
In the second week I was shifted to the TDR (Term Depots Receipts)
department. It was again a good experience to work with the officer here. First of all he
told me about the basics of the TDR.
The main function of bank is to channelize the saving from the savers to the ultimate
users of the funds. This process of collecting saving is called "deposit mobilization".
Deposits are of two types one is the demand deposit and the other one is time deposit. As
the name signifies the demand deposit is payable on demand so no interest or benefit is
given on such deposits but the time deposit is a kind of deposit, which gives you a benefit
in terms of cash. Most of the people who have surplus money with them especially the
landlords deposit their money in such accounts.
Term deposits are payable on demand with certain maturity. Different percentages of
profit are given in the time deposit .These are called fixed deposit because they are fixed
and no transaction is allowed till maturity. In fix deposit you can open an A/c of the same
title only than A/c number will be changed. While in other accounts the A/c can't be
opened under the same title even in other branch of the same Bank.
Profit Calculation
The Head office determines the provisional rates of the Profit. Every bank has
its own interest rate; usually established banks have low interest rates then the non-
established banks as the have to attract the customers.
There are different types of accounts, which are shown in provisional rates of profit on
PLS deposit and rate of return minimum balance, and maturity is also shown in it.
After every six months the rates are revised on PLS deposit.
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On fixed deposit the interest is given on the Principle amount only while on other profit
and loss deposits the interest is given on profit an principle amount (provided that the
interest has not been received in the given time). On fixed deposits the month is started
from the day from which you deposit the amount.
Zakat is deducted on the first of Ramdan. However, the Bank can't deduct the Zakat if
you have given Affidavit (declaration regarding not to deduct Zakat on Stamp paper).
Record Keeping
The record of the TDR is although feed in the computer but there is also a hard
copy of the record. The verified TDR forms are pasted with serial number of receipt
given to the customer (the receipt of the form regarding the deposit of the amount).
UBL Bachat Certificates are attached or pasted in the file according to the date. The date
may be of any month and any year i.e if there is a card of the 8th then on this card you
will find the only 8th date of any month and any year in which the card was issued.
Third Week
In the third week of my internship I was shifted to the Clearing section and Bills
for collection section as well. Three days I worked with the "Clearing" and then with the
"Bills for collection" section.
Clearing
This is an "Inter-city clearing" i.e the cheques of Rawalpindi city from different
banks like National Bank of Pakistan, Standard Chartered Bank, Muslim Commercial
Bank are deposited here. The deposited cheque is received carefully by checking the title
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of cheque, date, amount, and signature on the cheque. All the cheques go to the State
Bank of Pakistan. Everyday NIFT receives all cheques and arranges them. By
establishment of NIFT a lot of time, cost and labor is saved. The cheques are stamped
carefully.
Two stamps are required on the cheques are:
Clearing stamp
Payee's account will be credited
If any stamp is missed or unclear, SBP returned one the cheque with reason. When the
cheques are deposited they enter all the cheques on the computer with account number
and these figures go to SBP.
There are four types of Balances in the computer
Available Balance
Float Amount
Block Amount
Ledger Balance
NIFT collects all the cheques at 2:00 pm. After that the computer department gives
clearing sheet that is checked in clearing.
Same Day Clearing
All the cheques are cleared in coming day. But same day cheques are cleared other
same day when it is deposited. The same day cheque amount is 50,000 below this amount
the cheque, can't be cleared in the same day.
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Clearing House
It is a place where representatives of all scheduled banks sit together and
interchange their claim against cash other with the help of controlling staff of "State Bank
of Pakistan" where there is no branch of State Bank of Pakistan, the designated branch of
State of Pakistan.
So, system by which banks exchange cheques and other negotiable instruments drawn on
each other within specific area and there by secure payment for their clients through the
clearing house at specific time in an efficient way.
Bills for Collection
Two types of cheques are deposited here
Outstation Cheques
UBL Other Branch Cheques (Local)
Outstation cheques mean different cities cheques are deposited and local means Askari's
other Branches like Saddar, hyderroad, etc. are deposited. All cheques account numbers
on the computer and these figures go to SBP.
The cheques are cleared in 5-6 days. Because "NIFT" receives and delivered to SBP
where these cheques are cleared in 3 days and deliver to the banks, which mention on the
cheques.
The cheques require three stamps
UBL Crossing Stamp
OBC Number
Payee's Account Will Be Credited.
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If the cheques are returned due to some reasons, a returned memorandum is filled and
entries are recorded on the register.
Fourth Week
In the fourth week of internship I was transferred to the "Remittances department".
I met there with a quite sophisticated personality, she tells me about the issuance,
procedure and the entries of the demand drafts and pay orders.
Demand Draft
It is an instrument payable on demand for which value has been received, issued by
the branch of the bank drawn. Demand draft is payable at some other branches of the
same bank. But UBL Bank contract with MCB so UBL Bank Limited demand draft is
payable at MCB also. Demand draft is very useful because there is no chance of fraud.
The person deposit cash and get demand draft. It is used for outstation payment.
Issuance of Demand Draft
On the application form following particulars are given:
Name of Beneficiary
Amount
Mode of Payment
The Place Where DD Is Drawn
Signature
Name And Address of the Beneficiary
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Request shall be made on standard application form. The customer writes his name,
address, I.D number, and phone number on the backside of the application form.
Commission is charged as per schedule of charges. The issuance of DD is computerized
and the amount is automatically protecting graphed drawing printing for the avoidance of
forgery.
The withholding tax and excise duty is deducted as per schedule. When the customer
depots cash in the cash department, he got voucher from the cash department and gave it
to the person who makes the DD.
Payment of DD
When a person brings DD (which have been drawn on you), you will check it from
your DD payable record and ask the customer to sign twice at the back of the DD so that
it could be confirmed that he is the eligible person for receiving the benefit, along with
this you obtain the ID of that person verify it and then make the payment. After making
the payment entry is made in the register that this DD has been paid.
DD Payable Register
Every day you receive an IBCA from different banks and it contains a list of DD,
which have been drawn on you. Banker records it in DD payable register. These DD are
those, which other branches have drawn on your bank.
Cancellation of DD
Following procedure is followed for the cancellation of the DD.
Obtain the application in writing for the cancellation of DD along with the
original DD.
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Verify the signature of the applicant, which should tally, with the signature on the
application form (for opening the DD).
Mark caution on DD issued register or on computerized entry.
Make the payment from suspense account.
Inform the Drawee bank regarding the cancellation and ask for IBCA. Inter
Branch Credit Advice is the advice regarding the payment (refund) of the amount
which Drawer bank have sent to them (which was deposited by the customer
against the demand draft).
When a demand draft is made, an IBCA is sent to the Drawee bank regarding the
payment.
Types of DD
DDs are of the following types:
Crossed DD: In the case of crossed DD the amount is deposited to the A/c of the
beneficiary.
Open DD: Incase of open DD the amount is handed over to the beneficiary at the
cash counter.
Telegraphic Transfer
The transfer of funds from one branch to another branch of the same bank is called
telegraphic transfer. The bank apply test on telegraphic transfer. The applicant receives
Commission and charges, if the Applicants account is in UBL Bank Limited, he pays no
charge above Rs. 100,000/-
If he has no account in the UBL Bank Limited then he has to pay charges according to
the amount e.g. for Rs. 100,000/- the charges are Rs. 250/-
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If the account of beneficiary is in another bank, his bank will present The TT to UBL
Bank Limited through for payment.
Pay Order
Pay order issued from one branch can only be payable from the same branch. Pay
order is used for same city payment. E.g. If UBL Bank Limited (Main Branch) issued pay
order it is only payable for Main Branch of UBL Bank Limited.
Procedure
Applicant fill the application
After paying charges he gets voucher and pay order is issued
All pay orders shall be crossed "payee's A/c only"
Cancellation
The applicant give application for cancellation
Charges are recovered from the applicant
Fifth Week
In the second last week of my internship I worked for two days in the "ATM
section" and then in the "Accounts section".
Account Section
I worked three days in accounts department but as it is a confidential department so
they did not give me enough in formation regarding their working. First day I sorted out
the cheques of UBL Bank Limited with the help of the serial number and the nature of
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the account and arrange them in sequence. After that I checked the activity which
contains the title of the cheque, amount, date etc. Accounts department maintains the
record of expenses of all the departments, it also maintain the record of all the employees
regarding their basic salary, increment, benefits etc.
On the next day I worked in the mail dispatch section, the person appointed here asked
me to arrange the letters and to write the mailing address on the envelopes and then to put
the letters into the envelops. It was an interesting job.
ATM Section
I worked two days in ATM department. The country wide network of automated
teller machine carrying the brand name "ASKCASH".
The branch network is corrected on-line real time and its customers have access to off-
sites as well as on-site ATMS all over Pakistan. Being a part of the first inter-bank ATM
switch in Pakistan with ABN AMRO and HABIB Bank, the customer now here has
access to about 90 ATMs through the country.
For ATM cards first the customer open account in the bank after that he/ she fills the
application form for the ATM. The Head office sends an ATM cards in a ATM
department but pin codes are sent in other department. So in this way the customer gets
his/ her ATM cards.
ATM means "24 hours services" the customers get money at any time at any place.
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Sixth Week
In the last week I was shifted to the "foreign exchange" department. For the first
three days I worked there but in the last three days I was shifted again to the account-
opening department due to the absence of one of the Account opening officer. Therefore I
was sent back to the account-opening department.
4.2 Critical Analysis
Positive Points
Opportunity to Learn
First of all the internship gave me an opportunity to get a first hand experience of
working with some organization i.e UBL Bank Limited. It was a golden opportunity to
learn about different new skills and organization environment.
Learning Extra Skills
Another point that I learned during my internship at UBL Bank Limited was that
employees should use the concept of job rotation in partial. Because it really adds to the
overall efficiency of the organization, this technique with all its positive point is being
highly practiced at UBL Bank Limited. If some employee gets absent or happens to face
any sort of emergency another employee is readily available to work at his/her place
briefly, employees and organization both get extra benefits from job rotation.
Caring For Employees
I learn that if the organization take care f its employees, the employees in turn, use
to feel more confident motivated and satisfied, as in the case of UBL Bank Limited.
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Professional Dress Coat
During my internship I have found that in the professional life of a person dress
coat really matters. It creates a long lasting impression in the minds of not only clients
but senior officers colleagues etc. UBL Bank Limited is pretty conscious about the
appearance of its employees. It created a sense of being well dressed and looking as a
smart young professional.
Coordinated Groups Are More Productive
Another positive thing I learnt was coordination. Coordination is an important and
appreciable aspect of working groups at UBL Bank Limited. People understand the
responsibilities of each other and have known how about the duty of other person. So,
there if anyone is not disturbed and overall efficiency remains consistent.
Punctuality and Regularity
One of the most important things that internship teaches an internee is punctuality
and regularity. Most of the students in their college lives not as much punctual and
regular though it is positive point as they are required to be in their professional career.
Respect Everyone
Giving respect to all other employees especially to senior is one of major ethical
principles at UBL Bank this principle is greatly followed. Junior employees respect their
senior colleagues and always struggle to fulfill their expectations.
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Learning Environment
UBL Bank Limited has a productive, healthy and learning environment which
enables me to learn lot of new skills like it gave me confidence and polished my
personality.
Ethical Training
Another thing which I have learnt that is ethics. Ethics are no doubt, an unavoidable
part of a professionals personality. Ethical training is a means of guiding the employees
of the bank that what ethical principles they are supposed to abide by, in their personal
and interpersonal lives because employees are the real asset of any organization and any
unethical action on heir behalf can defame the whole organization.
Behavior Training
The internship also tells how to behave in the office. If there is some behavioral
problem with the employee which affects his overall efficiency then the bank has a
treatment for him.i.e behavioral training e.g. at times the new employee fails to adapt to
new environment and exhibits improper working behavior like showing no interest in the
job etc. Such employees are also retained and kept through improving their behavioral
deficiencies at UBL Bank Limited. So, I also learned these things.
Team Emphasis
Team emphasis refers to the degree to which work activities are organized around
teams rather than individuals. So this is also the positive point that I learn that how to do
work in a group. UBL Bank puts great emphasis on team building because the banking
sector involves projects with large scope that ultimately calls the need for teambuilding.
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Negative Points
Lack of Motivation and Self Responsibility
Self motivation and self responsibility makes the employees to keep their
efficiency exceptional. Unfortunately at UBL Bank these two drivers are not found in the
way they should be.
Human Resource Division Related Security
Human resource division should be provided more security because extremely
confidential information is maintained there.
Inefficient online banking
The online banking is not of very high-quality. The payments and processing are
slow. They need to update their use of information technology as this is the cyber era. So
UBL Bank needs to focus its attention towards this problem which keeps it a step back
from other competing banks like Standard Chartered etc.
4.3 Things I wish had been know to me before starting my internship
There are many things that I wish I had known before joining UBL Bank for my
internship experience.
Banking field is now not just restricted to the give and take of money but it has expanded
its reach to foreign exchange and also due to the introduction of information technology
the bank structure has significantly changed.
Thus I wish I had known about
How to open a foreign account
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Some codes and symbols used in banks
The procedures and process of letter of credit and how different deals are made
How to persuade and deal with an angry client
Another very important thing I wished to know before was the nature of work
which I was supposed to perform as an internee.
Before my internship I had many doubts regarding the complexity of work
compared to my knowledge and especially because I have human resource
management as my majors subject.
The students of managerial sciences are not mentally prepared for non-managerial
tasks which they are required to perform as an internee. So I wish our university
had given a little briefing on these sides as most of the students were bank
internees.
4.4 Skills I Used and Newly Learnt Skills
Management skills
Communication skills
Technology skills
Coordination skills
Working skills
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Presently I am specializing in human resource management. My internship in this
department has enhanced my knowledge about different textual concepts of the
subject which is again a plus point, on my part, for my future career plan.
In todays selection procedure, interview is the most crucial stage. My internship
made me confident and enhances better communication skills. Now I have come
to know how to create first impression which is very important for taking up the
first step of my career plan.
During my internship, I came across some people who were successfully,
developing their career, I observed their qualities, abilities and planning would try
to follow them to buildup my own career.
RECOMENDATION
After spending six weeks at different departments of the bank, interacting with
the employees, getting their views, observing the organizational structure and design, I
havecome up with the following suggestions that in my view, will definitely improve afew weaknesses observed in the bank by me.
Flexible Policies
The bank should be adopting flexible policies, especially in the areas of the
recruitment, promotions, evaluation of the employees otherwise the high turnover
observed in the bank will continue to create problems for the bank now and in the future.
Job Security
The employees in the organization should be insured job security so that there is
no pressure on the employees while performing their tasks.
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Permanent Hiring
The fresh hiring should be made permanent so that they are secured of their future.
Further the allowances and perquisites attached with the permanent jobs will also
increase the motivation level of the employees.
Job Training Programs
The bank should place emphasis on the organization of effective training and
development programs for its new as well as existing employees so that these are
gradually updated regarding the recent developments in the field of banking.
Perquisites and Allowances
The number of allowances and perquisites for the employees should be increased to
ensure that they put their body and soul in the jobs assigned to them.
Adoption of Effective Technology
The current system used by the bank is very slow in processing so my view is that
the bank should try to adopt some other but more effective form of technology in order to
provide comfort to the customers as well as the staff.
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Conclusion
UBL is an effectively operating and profit making organization and carrying out
its activities under a specified system of procedure. The main regulatory body is state
bank of Pakistan, which provides policy guidelines and insures that the money market
operates on sound professional basis. While the head office specifies the whole procedure
of function and operation. The procedure has been modernized with the passage of time
with view to streamline the approach and underlying procedure for effective over hauling
of its own capabilities so as to bring them at par with international practice.
Cash is still most comfortable mode on transition, because of cultural dislike for
borrowing from the formal sector and easier access and also because of the presence high
denomination currency which could be carried easily. The fear of transaction information
being more to the authorities to the authorities giving rise to question on the income
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References
Chernow, R. (1990). The House of Morgan (4th ed.). New York: Atlantic Monthly
Press.
Emory, C.W. (1985). Business research methods (3rd ed.). Homewood, IL: Richard D.
Irwin.
Roger, L., David, D. (1993). Modern Money and Banking (3rd ed.). New York:
McGraw Hill.
Online references
www.google.com
www.historyworld.net
www.ubl.com.pk
http://www.google.com/http://www.historyworld.net/http://www.ubl.com.pk/http://www.google.com/http://www.historyworld.net/http://www.ubl.com.pk/