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Growth of Banking in Pakistan.

The entire banking business was controlled buy the non-Muslims before the partition of the sub-continent. When Hindues became sure about the divisions of the sub continent, they secretly began to transfer their capital to the safe places in India. The funds and other valuables were transferred to India.

Time of Independence.
Hindues migration from Pakistan to India also caused drain on the bank deposits. In order to ruin the economy of Pakistan. Hindues closed down most of the head offices and branches of the scheduled and non scheduled banks in Pakistan. At the time of independence there were only two Pakistani banks, that is Habib Bank and Australasia Bank. At the time, Pakistan had 631 branches of scheduled banks and 411 of no-scheduled banks. The total deposits of Pakistan banks were Rs. 800 million and advances were 198 million, the non-scheduled banks number reduced from 411 to 106 over the same period. The mass scale withdrawal of deposits closure of branches and migration caused a deadlock in the banking business in Pakistan. Keeping in view the above situation government, of Pakistan took various steps to provide all kinds of facilities to they non-Muslim bankers for restoring normal banking facilities but response was not encouraging.

Establishment of State Bank.
After independence it was not possible Sc-r Pakistan to set up the Central Bank immediately. The Reserve Bank of India acted as a Central Bank of Pakistan till 30th September. 1948 But it could not protect the interests of Pakistan. To remove the financial difficulties and to establish sound banking system Govt. established the State Bank on 1st Julv 1948. In the development, to banking system it played very important role as a Central bank of the country.

Development of Commercial Bank
New branches were opened in the country with the development of banking system. These banks also extended their branches to foreign countries.

Specialized Financial Institutions.
Government of Pakistan established the specialized financial institutions like ADBP. IDBP. NDFC, PICIC, HBFC. These financial institutions financed the particular sectors like agriculture, industry and housing.

Nationalization of Commercial Banks
In 1974 Government of Pakistan nationalized all the banks. The weaker banks were merged with the strong banks.

It was argued that these were nationalized So provide fair distribution of Credit to all the classes of people and remove the monopoly of few Capitalists over the banking industry.

Privatization of Commercial Banks.
Now government has decided to privatize the Commercial Banks. The banks are in the process of privatization like other units of the economy since 1990. This step is taken to provide better banking facilities lo the public. It was also argued that loans were used as a political bribe and it destroyed our banking system. People are not willing to repay the loans despite of all Govt. efforts. So after privatization private banks will not accept the political pressure and loans will be issued on merit. In January. 1991, a privatization Commission was set up and two Commercial banks namely MCB and ABL were transferred to private sector. While other banks like HBL and UBL are under the process of privatization. In August 1991 government has also allowed the establishment of new private banks. Now new like Askari Bank, Platinum Bank, Indus Bank., Mehran Bank, Soneri Bank, Union Bank and Al-Habib Bank are established. These banks have established their branches in all the important cities of the country.


there were 38 scheduled banks with 195 offices in "Pakistan. COMMERCIAL BANKING SCENARIO IN PAKISTAN At the time of independence in 1947. The main cause of its success is its main concern on quality of services not quantity of service. The commission transferred many banks to the private sector i.e. Its registered office or head office is at AWT Plaza. 1 private commercial bank. . 1973 there were 14 scheduled Pakistani Commercial Banks with 3. ASKARI COMMERCIAL BANK The government approved and the established private scheduled bank in 1990.233 offices all over Pakistan and 74 offices in the foreign countries.Commercial banks are companies “which transact business of banking in Pakistan Commercial banks have constituted the most important source of institutional credit in the economy of 1992. It provides a lot of facilities to its honorable customers. (AWT). It has total 30 Branches and spread all over the Pakistan. Rawalpindi Pakistan. The Mall. Now it is no. But by December 31. 1974 under the Nationalization Act 1974 due to certain objectives. It is a branch of Army Welfare Organization. Nationalization of Banks was not done 1st January. But it had negative effects on the efficiency of the banking sector. MCB and ABL. It is so successful only due to its safe portfolio of lending.

Multan City is linked to many big cities. It is a prosperous branch streaming towards great achievements. At the time of its establishment the factored who were considered are as follows  Multan is zone covering a large population. President 2. NIT Nominees ASKARI COMMERCIAL BANK LIMITED MULTAN Askari Commercial Bank Limited Multan was inaugurated on December 28. Chief Executive 3.CORPORATE FLOW It the corporate body consists of 12 Board of director including one chairman 1. The location is connected to all the main trade centers in Multan. Agro based area constituting growers and gainers Army Offices & Fort Colony    .1994. Secretary 4. It is located on Abdali Road Opposite to PIA Office.

Zubair Sheikh DEPARTMENTS The bank has following department:  Account Opening department  ATM Department  Credit Card Department  Account Department  Credit Department  Remittance Department  Foreign Trade Department  Cash Department ACCOUNT OPENING DEPARTMENT . They are dedicated their work. Educational Institution The total strength of staff in ACBL Multan is 35. Tariq Mahmood and Operational Manager Mr. Under the dynamic leadership of Vice President Mr. The branch is progressing rapidly.

 Askari Special Deposit Account. These deposits are lent out to different parties.Borrowing funds from different sources has become an essential feature of today's business enterprises. Banks borrowing is mostly in the form of deposits. Such deposit creation is done through opening an account in the Bank. Asif Awan is operating the account opening department along with performing some auxiliary functions of Cheque Book Issuing and receiving IBC‟s (inward Bills for Collection).  Term Deposit. CURRENT ACCOUNT .  Askari Bachat Certificate.  Saving Account. there are the following types of accounts:  Current account. The borrowed capital of a bank is much greater their own capital. TYPES OF ACCOUNTS In ACBL. In ACBL Multan Mr. But in the case of a bank borrowing funds from outside parties is al l the more vital because the entire banking system is based on it .

The payment of return is monthly. When a banker accepts a demand deposit. That‟s why it is similar to current account.5% per 6 month.000 at the end of the month.100/.(as obvious in the Annexure). It is necessary for this account that the client must maintain a minimum balance of Rs. 50. persons belonging to Armed forces and different military institutions are free to use this account on current basis. The minimum deposit for opening the account is Rs. It is mostly opened by Business but individuals too open this account. It is for only transaction purposes. Though individuals open such accounts for saving purpose. where as the rate of return with aspect to the amount of minimum deposit clear from deposit schedules in following table). he incurs the obligation of the paying all cheques drawn against him to the extended of the balance in the account. SAVING ACCOUNT The purpose of this account is to induce the habit of saving individuals in the neighborhood. The profit is on the basis of 8. They are paid on demand.In current account there is no interest on it. . Current account is mostly opened for business. ASKARI SPECIAL DEPOSIT ACCOUNTANT ASDA account is an interest bearing current account interest is paid. As there is no profit paid on this account it is also called chequing account because cheques can be drawn on it. It is also checking account because cheques can be drawn on it.

5000/. The term deposit account vary one month to 5 years and the min balance requirement is Rs. the rate of return for 3-years is 12% if ABCs is for 5-years the rate of return is 13%. Because in such account the balance is kept for either '3' or '5' years within the bank no cheque is drawn on it.99 9% 10% ASKARI BACHAT ACCOUNT ABCs are long term fixed deposit for 3 and 5 years. TERM DEPOSITS A term deposit is a deposit that is made for a certain periods of time at the end of the specific period. That is why it is not a checking account. One of them is "Askari" Advantage one month. Return is made monthly.for all following accounts (as clear from Deposit Scheme in the table ).Amount in Rs. The customer is allowed to with draw the principle amount . The minimum balance requirement is Rs.000 – 499.000 million 5 million – 20 million – Interest Rate 8% 4. 25000/.999 500.and maximum balance requirement is Rs. 50. .0 Million. ACBL Term deposits are of types clear in the deposit scheme in the table).75%. If ABC is for 3-years. The rate of return on this account is 9. Theses are not term deposits because payment of return is on monthly basis rather than on maturity of deposits. 1.

ASDA.5% 13% The amount of profit is given to depositors in three ways:  By cash  By sending a bank Draft to depositors Home address or Officers or whichever is specified as mailing Address.Period One month 2nd 3rd 6th month One year 2 year 3 year Interest Rate 9. ACCOUNT OPENING PROCEDURE For the checking accounts (C/A.75% 10% 10.  The amount is credited in any one of the checking Accounts of the depositor.5% 11% 11. there are different types of account holders are required for all these types of account holders.5% 9. The operation /procedure requirement that is needed for " Individual Account " differ greatly from " Joint account " proprietorship "Partner ship “. "Limited Company" and "Club society or Association " as explained below. SAVING). .

For illiterate person and Veiled Women. along with the copy of National Identity Card requirement he or she must come in person for opening the account. his /her address.  The person fills in "next of Kin " position where he/she father.INDIVIDUAL'S ACCOUNT When a single man or women opens an account in his/her own name and has the right to operate it is called individual Account. phone no and affix his/her signature to certify this requirement. mother. OPERATION  The person place a "Check Mark " in the type of account and type of operation required  He/She fills in part-I of the form . One the . This requirement is needed because in his/her absence bank can have correspondence with the specific person. DOCUMENTATION REQUIREMENT For literate person copy of National Identity Card is required as a primary requirement.  The person put her /his signature (" or thumb expression) on the signature Specimen Card (SS CARD) similar in the area on the form. husband/wife or any other relative's name. a fix his /her either two or four similar signature (or thumb expression in the signature space and get it introduced and signed by a person who already has an account with the bank and write his account no in the specific rows in a specific space.

DOCUMENTATION For joint account copy of National Identity Card of all the persons is obtained other things remaining same as in individuals account. Person to contact and introducer space is filled in. open an in their name is called joint Account.  If the person put his signature in Urdu or any language other than English. nor trustees.back of S. neither partners. he signed a "Vernacular form" where under take that affixed signature are original and his own signature and two postal size photos are needed.S card mailing address. All these requirement are necessary for future  The person deposits the initial amount for opening account on to the cash counter. Husband and wife or two persons of same sex can open joint account. The person put his signature on form -A (check book requisition) on two places in "authorized signature" and fills in the "Title of Account space by writing his name. The next day is the opening of account. telephone no. JOINT ACCOUNT When two or more persons. OPERATION .

 Signatures of both persons are obtained on the form in the area specified for signature and S. PROPRIETORSHIP ACCOUNT When an owner of a firm operating singly. DOCUMENTATION REQUIRED For this kind of account.S. Card and the area specified for signatures on the form. The person checks the type of account and type of operation required in the respective box on the form. opens an account in his firm name.  In the title of account space names of all the persons are mentioned. .Card of proprietor.  Accounts holder specified in the form that they will operate the form singly or jointly. Card. an application for opening the account on the firm letter -pad (having the firm name) is required along with the N-I-C. this account is called a proprietorship Account the proper himself liable for all his acts. OPERATION Al l operation remains the same except that the firm name is written in the "Title of the Account" area and signature of the proprietor are affixed in the S.  The persons fill in the Part-I and part-II in the form.S.

 Name.  Partner ship deed in case registered partnership firm. OPERATION All other requirement remain same except that the form is dully signed by all partners cards are signed by all those partners who will act on behalf of the firm and along filling part-I .  In case of non -registered partnership firm. card of all partners  Application to open the account on the firm letter pad. LIMITED COMPANY ACCOUNT . Every partner has in a firm has an implied authority bind his co.I. The partners in the partnership firm are liable for the acts of the firm jointly and severely.  Letter showing the implied Authority of one or more partners to act on behalf of the firm. DOCUMENTATIONS  Copy of N. Part-Iv is also filled. understanding on behalf of the firm to remain liable for all acts of the firm.PARTNER SHIP ACCOUNT The account is opened in the firm name and all partner designate one two persons to act on behalf of the partner ship firmer all acts on behalf of firm. address of all partners is written on the pad. partners by drawing and enclosed cheques.

S card and is stamped "Verified" customer signatures are admitted by stamping "Admitting" near signature and again signatures on S. Next of kin "requirement "is not need in case of a Limited Company.This account is for limited companies.S card are admitted in the same way. Accountant is open in the computer by writing name. address. DOCUMENTATION REQUIRED  Memorandum of Association.S Cards.  Certificate of Incorporation.  Articles of the Association  Resolution of the Board of Director. bank provides many facilities. A/C Number etc. After completing each and every formality. The same process of verification and admission of the signatures is repeated on Form-A and next of Kin area. After completing each and every formality. introducer signature is verified by S. . In order to facilitate their transaction with outside parties.  Certificate of commencement of business  N-I-C OPERATION The persons authorized in the Resolution of the Board of Directors put their signatures on S.

ACBL issues letter of thanks to "Account Opener" and "Account Introducer" for the trust they have on is made by mentioning the and the total of sum of excise duty and provincial tax.  A/c number is stamped over the leaves of cheque – book and finally authorized person affix his signature over the debit voucher and cheque book is handed over to the customer.  The name of A/c holder and date of cheque – book issuance is written on cheque – book requisition the account-opening officer puts his initials on requisition leave. They are not issued for other fixed and term deposits because of their Long term Accounts “nature. account number. OTHER RESPONSIBILITIES CHEQUE BOOK ISSUING Check books are issued only for checking account such as current Account.” ISSUING PROCEDURE  Signatures on cheque – book requisition are verified by matching with signatures on SS. account holder‟s name are mentioned in the cheque.LETTER OF THE THANKS At the start of the letter 2nd day. RECEIVING INWARD CHEQUES . saving Account and ASDA Account.  Cheque – book leaves number.

Another responsibility and function of account Opening Department is to receive Inward cheques for collection of other Banks as well as of ACBL. After authentication a cheque is sent to cash department Encashment of Cheque Cashier pays the amount to token holder after getting back the token from him.e.annually on the outstanding balance of accounts on the first day of every valuation dale i. Lodge in clearing cheques pending on realization. paid stamp and branch stamp. Cleared cheques are credited in the bank account. Inward bills from collection opposite are IBC number. Then these cheques are sent to clearing official who clears these checks at SBP from other banks.5 % . The Central zakat Authority (CZA) fixes minimum balance for the deduction of zakat before the valuation date . a cheque Is sent to the accountant for the verification of signature from signature specimen card. Deduction of Zakat Form the profitable accounts zakat is deducted at the rate of Rs. Verification of Signature After affixing the two stamps i.e. first day of Ramzan. ENCASHMENT OF CHEQUE Issuance of Token After scrutinizing the apparent tenor of cheque a token is issued to the account holder. their OBC number. 2.

Exemption from Zakat The accounts of foreigners (including Muslims of other nations) and Pakistani non-Muslims arc exempted from (lie compulsory deduction of Zakat.closed at the request of an account holder or as a result of improper conduct of the account holder or because of nil balance of the account. The accounts of the followers of Fiqah-e-Jafria sect are also exempted from the deduction of Zakat after the submission of affidavit on a legal stamped paper. Some of the more common reasons are as follows: 1234Account holder's own request Death of account holder Bankruptcy of account holder Closing of account due to bad demeanor of account holder etc. . Closing of Accounts. In first case account holder‟s request the manager of the Bank to close his account in black and white. An account is . There are many reasons for closing of account. Withholding Tax Whenever a profit is paid on any deposit it is subjected to the withholding tax @ 10% annually.

The account opening form of the account holder is taken from the account-opening file. The account holder with draws the amount by writing a cheque and just leaves Rs.Account is closed on the written request of the customer ACBL debits Rs. In case of Ltd. and resolution of board of directors in case of limited company account are attached with the form. 100/. 4. 100/. 5. PROCEDURE 1. charges for closing the customer account from that account. . The customer for individuals account write an application to the manager of the bank an a simple paper about the closing of his account with the bank (In case of proprietor ship partnership and limited company account the application should be written an firm or company letter – head) 2. and the application. cheque book. Company account resolution of the board of directors is also obtained to attach it with the application. The individual or in case of other type. But to surrender the cheque book yet if some leaves are yet to be write to the bank as a necessary requirements for closing the account. The cheque book is then torn from one side and is attached with the application.proprietor firm and company surrender the cheque book to the his account.

Kamran deals this department.” EVERYDAY POSTING Following transaction of cheque book is posted:Dr_____________ party A/c 25(for 10 leaves) Cr______________ excises duty on cheque book 20 Cr______________ provincial tax on cheque book 5 ATM. Maximum limit of daily cash withdrawal is Rs. phone number are mentioned. 2. ATM CARD ATM – Cards are only issued to Account Holder.CARDS DEPARTMENT This department deals in issuing ATM-Card. . ISSUING PROCEDURE 1. Mr. term deposits and Askari Bachat Certificate. it is written in “Red Ink on the form that account closed” and “Date of account closing. 10000. account number.6. first open the account within the blank. address. The person. Then he fills the ATM application form in which name of account holder. Any account holder of ACBL (current “Saving Value plus Saving Account”) can obtain ATM card from ACBL with in 15 days. Lastly.

ASKARI BACHAT CERTIFICATE The ABC application form is filed and signed. ACBL takes Rs. list of card holder is issued and then after 15 days cards are sent to ACBL issuing branch. You can deposit money “withdraw” get balance inquiry “transfer the fund” 24 hours a day at any branch of ACBL which has ATM facility. 4. Then on the same application form bank officer guides branch code. The certificate is filled according to the specification. Bank manager puts his signatures. First. The certificate is then handed over the customer. 200/per year or Rs. The details are written. The application is then posted in the file. The entry is made in the ABC register. 6. ACBL head office takes a period of 3-4 weeks for preparing and processing of ATM – cards. TERM DEPOSIT . the application package is sent to card centre. After completing this process. 5. All the requirements are properly fulfilled. The credit voucher is made against the cash that the customer deposits to the bank. The card and list are not sent simultaneously in order to avoid any mishandling. application number and signatures are verified by the bank. 100/semi annual as charges for a card. ACBL ha shared ATM network with ABN AMRO and HBL.3. Card along with pin code is sent to the branch from the head office.

The date of opening. the signature of the customer and the authorized officer. The presence of account is not necessary. He needs not have an account in the bank.  The term deposit form is then filled by the officer.  The credit voucher is made for the amount of cash to be deposited. .  The number of the term deposit form and term deposit is noted receipt is then given to the customer.  The number of the term deposit form and term deposit receipt is noted in the term deposit Register. the name of the customer.Any person can open a term deposit. PROCEDURE  The customer comes to the bank and specifies the number of days for which he wants to Deposit hid money in term deposit.  The term deposit Receipt is then given to the customer. the signature etc is all written on the form.  The term deposit Receipt is filed according. it is posted in the term deposit file.2% tax on the provincial amount is taken while issuing the receipt. the period. the stamp of the bank etc.  A 0.  After completion of the form. All the requirements are carried out.

ACCOUNTS DEPARTMENT Accounts department is a department which deals and checks all the activity of all the department . computer print is also received from the computer. The vouchers are sorted out head wise. A credit voucher made and the amount is credited to the tax on TD. OTHER ACTIVITIES  Preparation of daily bank positions statement  Payment of salaries . Any abnormality if occurs. Mr. Then next day activity separated some statements from the “End of Day”. all the vouchers that have been posted at the computer are scrutinized in accounts department. CHECKING BANK’S DAILY ACTIVITY Accounts department deals and checks the entire working of the Branch. Shagufta deal this department.e. After checking they are signed by Mr. Kamran and the internal auditor Mr. The vouchers are matched with the entries in the statements. Kamran and Miss. Shafiq. The “End of Day” i. Salary payment is also one function of the bank.It also deals in expression of finance of the bank. is immediately dealt with. The next day the activity is separated some statements from the “End of Day”. All the vouchers and instruction are checked individually are checked individually against the computer printouts.

The main function of this department is transfer of funds. INSTRUMENTS DEPARTMENT OF BILLS & REMITTANCE The instruments that are handled in the B & R department are as follows:  Demand Draft. Preparation of the statements  Depreciation calculation REMITTANCES DEPARTMENT Remittance department provides services to the customer of the bank. Incharge of the department is Mr.  Pay order.  OBC.  Mail transfer.  Telegraphic transfer.  Pay slip.  IBC. Ahmad Feroz. DEMAND DRAFT .

ISSUANCE PROCEDURE A demand draft application (Annexure--) to given to the customer.  In case of cash deposit the cashier counts he amounts & signs the DD application and enters it in the register. If two banks are involved. he fills in a relevant information and signs it.  The cash received equals the amount of remittance & the cheques there on.  Then the officer of the bills & remittance department signs it and operation manager counter signs it.  The charges such as commission. which is drawn by one bank upon another bank for a specific sum of money payable on demand. . Tax is exempted if he is taxpayer & knows his No.  The entry is made in the DD issuing register. But in customer Bank case the customer sends his DD to the receiver. postage is charged as per effective schedule of charges. excise duty.  The Officer in charge then checks the information form.  It is given to the customer. then one banks sends a DD to another bank.A demand draft is an instrument. It is made by the bank and given to the purchaser against cash or cheque.

The No‟s are checked & signatures are verified.  When DD is received.e. The Branch DD payable Dr Cr  The DD credit is attached with the vouchers and given for the posting at the computer.  The DD credit advice is received through mail. and the payment is made. Commission charges Excise duty Cr Cr  The vouchers and the DD form given for posting at the computer. and the vouchers are made.  An entry is made on the DD payable register. a customer comes to us with the DD. Vouchers are passed. the test No‟s are checked. .  The DD advises are printed at the computer and mailed to the respective branch. the procedure is as follows. when a DD is received i. NOTE On the contra.

 The following vouchers are posted.  The entry is made in the TT issuing register. TELEGRAPHIC TRANSFER A telegraphic transfer is a fastest & safest way to transfer money. DD payable is Nil. There are 3 copies. The original faxed to the Branch. The message is fixed. telex as per effective schedule and signs it.T is taken on the standard printed form. ISSUANCE  The request for maintenance through T. the charges such as commission. one to the Head Office and one is kept as record.  Then a neat T. tax. i. The vouchers are given for posting. And the entry that was made in register is closed.  The customer fills it & signs it.e.  If he fills the tax exemption from then no tax is levied. Commission Charges Fax charges Cr Cr .  The Head & remittance department checks it.T is made on the white slip.

A single bank is included in this case. PAYMENTS  When a T.H./C.  The following vouchers are prepared & given for posting. .T arrives.T receipt is strictly non negotiable.T office copy in the file.T Payable. it is attached to the T.T Pay able T. Head Office T. Cr  When commission bill is received. It is usually made by govt. Party A. the test numbers are checked and the signatures are verified.T pay able register. Bodies. The T.W. PAYORDER It is a cheque drawn by a bank on itself. Pay order is an instrument in which the parties are involved the purchase. Tax. Dr Cr Dr Cr  If there is no a/c then the T.T receipt needs revenue stamps and then the payment is made. It can he purchased by any customer. the bank and the receiver.  The entry is done in the T.

 The concerned staff checks the form. PAYMENT .  The pay order is then handed over to the application after obtaining his signature on the P.  A cost memo is signed.ISSUANCE  The standard form is given to the customer.O issued.  Then the authorized office after checking the pay order signs it. he fills in the detail and signs it.  Then the pay order receipt is filled accordingly. A voucher is also made and posted at the computer Cr bills payable account P.  Charges as per effective schedule are applied.  The cash of the pay order is received.O form.  An entry is made in the pay order issued register. stamped and handed over to the applicant as a receipt.  Counter foil is also filled.

Pay slips are the issued by the bank for the settlements of this own payment. In this case only one bank is involved. 1.O for issuance and payment is followed for payment is followed for pay slips with the following expectations. Dr bills payable A/C P.O issued register. The slips are issued to the employees of the banks their bills & invoices. PAY SLIP It is an instrument used by the bank s for its payment.  Then the amount is credited to the account of the customer or paid in cash. No excise duty is applicable on P.O issued.  The P.S. 2.O entry is made in the P.  The P. ISSUANCE . On representation of the pay two authorized officers of the branch sign order receipt the receipt. He is the issuer as well as the payer. Procedure prescribed for P.O is posted at the computer. The bills are transferred payments.

is received on the counter. Zubair Sheikh.S books is taken out & filled according to the credit voucher. clearing or transfer. an authorized officer. register. .S.  On receiving the P. Otherwise it is addressed to the particular Branch to whom the cheque belongs.  A voucher made and posted payment.S.  Dr. the OBC forwarding schedule in sent to that Askari Branch.S.S.S. According to the b debt. OUTWARD BILLS FOR COLLECTION The bills. are called outward bills for collection.  The P.  The payment is made and the P.O. If Askari branch is in that city. Operational Manager Mr. /P. is posted at the computer.  It is entered in the P.O register. if it is transferred in the P.  It is signed by.  The pay slips is handed to the customer. to the b debt. Bills payable P. which are sent to their cities banks for the local clearing in that city.  The P. A credit voucher is sent from the accounts dept. issued.

Inter branch credit advice.  The OBC no are checked for the OBC register and the received any entry is made.  Two authorized officers sign the schedule.  The OBC forwarding schedules / (Annexure) are prepared for the different branches.PROCEDURE  The cheques that are banks in other cities are separated. commission charges and postages charges are deducted from the A/C.  Charges i.  They are entered in the OBC register. Party A/C Dr Commission Charges Postage charges Cr Cr .  On clearance the respective banks send back the OBCS along with IBCA.e.  The respective cheques are attached with the schedule. Vouchers of following entries are made. the number is written on the stamps.  The office copy is filled and the original schedule is mailed.

So an OBC forwarding schedule is received by mail. an IBCA is prepared and mailed to the branch. IBC collection IBC logged Dr Cr .At the end of the day the contra vouchers are. OBC collection OBC lodged OBC collection OBC lodged Dr Cr Dr Cr INWARD BILLS FOR COLLECTION The bills are received from other banks out of city for the local clearing are called inward bill for collection.  At the end of the day two contra vouchers are made & posted. The IBC numbers are allotted to them. PROCEDURE  The OBC of the other branches will be the IBC‟s of this branch.  After realization.  The cheques are lodged for clearing.  The cheques are entered in the IBC register.

 TT payable. issued.  OBC Collection. If the payables are not cleared for a lot of days.  IBC lodged.S.O.IBC Collection IBC lodged Dr. Cr OTHER FUNCTIONS BALANCING THE REGISTER At the end of the day. .  Bills payable P. all the registers are balanced with the computer balances. a reminder is sent to the respective branches. The heads and checked are as follows.  DD payable  IBC collection.  MT payable. issued.  OBC lodged. P.  Bills payable.

personal and companies account CRITERIA FOR OPENING FOREIGN CURRENCY ACCOUNT There are not hard and fast rules for becoming the Foreign Currency Account holder. either within the Pakistan or outside the Pakistan. I. Foreign trade department deals in:  Foreign currency account  Exports  Imports FOREIGN CURRENCY ACCOUNT Mainly this account deals in individual. if someone has. can open the foreign currency account. Noor. otherwise no restriction will be there for him. well and good.D card is also not necessary. According to foreign exchange rules and regulation every citizen of Pakistan. . Bank wants only introduction of the Client and very little about the background. FEATURES OF FOREIGN CURRENCY ACCOUNTS There will be legal protection for the account holders.FOREIGN TRADE DEPARTMENT Incharge of the department is Mr.

Opening of Foreign Currency Accounts in the joint names of residents/nonresidents is permissible.Resident firms and Resident Companies including investment Banks can open Foreign Currency Accounts. Foreign currency Accounts can be used for payment of purchases at Duty Free shops. Foreign currency accounts can easily be transferred from one person to another. no Income Tax deduction. The account holder can transfer the funds freely. All foreign nationals and foreign Companies in Pakistan or abroad can open Foreign Currency Accounts. No Zakat will be deducted on these accounts. Foreign Currency can be deposited by:  Remittance received from abroad  Foreign Currency Notes There will be no restriction and questioning to him about the currency. in any currency to any part of the world. . These incentives reinforce and motivated the people to invest in foreign currency accounts rather to keep the foreign currency idle. no Wealth Tax deduction will be there. which he wants to deposit that from where he got that money. one place to another. with in the ACBL Branches or in other Bank.

FACILITIES This account provides following facilities: 1) Traveling quota 2) Out ward remittances 3) In ward remittances receiving 4) To make remittances procedure flexible EXPORT Mainly export deals in:  Negotiation of documents  Sending the documents for collection  Pre-shipment financing  Post-shipment financing  Remittance against agent commission  Forward covered booking  Handling the documents for negotiation according to the UCP 500 (uniform custom and practices)  Handling the documents for collection according to URR (uniform rules for collection) .

 Income tax certificate. the exporter will be allowed to export his commodities. This section helps the exporters to settle the financial affairs Registration Who so ever desires to export the goods first of all he has to get his name. he has to submit the following documents.  Internal transactions are through Nostro and Vostro accounts. E form. or his limited company registered with the export promotion bureau.  Bank certificate. In order to get his name registered with EPB.  Bill of exchange  Invoices  Insurance documents  Bill of loading . After getting registration. name of firm. Documentation. The exporter must submit the following documents to the negotiation bank. showing that the exporter is account holder and have a good dealing with us.

then stamp of test corrected without engagement on our part is affixed. the name of consignee. It is essential for the shipping documents to clearly sale the parties. the advising bank made a scrutiny sheet to check the amount of L/C as well as amount of bill of exchange etc. description. After examining the documents. Shipping documents must be drawn out in prescribed from by valid shipping or airlines. The bank on its part to also duly bound to make the payment however it is only reasonable to allow the bank sufficient time to scrutinize the documents that exporter has submitted. If the bank finds the documents correct then the bank will make payment to the exporter after confirming with the buyer‟s bank.As an evidence of dispatch of goods the shipping documentary bill are indispensable part of documents. The route must be signed and initials should be appears on it. The name and address of the shipper. . The quantity. The necessary documents includes the L/C form normally directly comes to the exporter and not to the bank. Sometimes the buyer through the documentary credit requests the sellers to certificate of origin and packing list. The exporter brings all these documents comes from foreign banks either through telex or courier service then the documents are sorted and test is applied and if it is correct. weight and packing of the goods should agree with the invoices documents must also clearly sale the route that the vessel or airline shall take. After submission of the documents to the negotiating bank seller is bound to receive his payment.

C. after certification from the bank the exporter then goes to the custom authorities and makes certify form there and finally goes to the port for shipment. NTN. valid export registration corticated.g. 1. Before issue E-Form it is ensured that the exporter has tendered the attested photocopies of required documents e.The advising bank certifies From-E after checking the invoices. Challan Copy of renewal few paid. Issuance of E-Form: Blank 'E' form in quadruplicate is issued to the exporter having an account with the branch against little request. 2. Maintenance of Record of E-Form: The Stock of E form is provided by the authorized dealers Head Office to the Exchange dealing branches and the proper record is maintained in the E-form Stock Register the dealing branches maintained two registers one for the purpose of issuance of 'E' form and the other for certification of EForm.. In case the exporter maintains his account at a branch other than the exchange dealing branch. E-Form. This deceleration is submitted on a prescribed Form-E in quadruplicate which is certified by the authorized Dealers. Every exporter is required 10 furnish a declaration to customs authorities for goods exported. Credit report of the exporter is also obtained to ensure the credit worthiness of the exporter. N. L/C and the contract attached with From –E.I. the request is routed through his branch. The set of E-Form after completion of all .

. I) Name and complete address of the exporter along with Telephone number. When the quadruplicate set of E-Form is presented for certification the same is very minutely scrutinized and following details are checked 1. II) III) Item of export showing quantity and that it is not a banned item. The following columns should be properly filled a) NTR NUMBER. Certification of E-Form Before lodgment of E-Form to custom authorities is requested to be certified by the authorized dealers.formalities is then entered in the E-Form issuance register and acknowledgement is obtained from the exporter or any authorized person of the exporter. Signatures of the exporters or his authorized signatory are duly verified at the counters. Income Tax Circle. Value of the: invoice mentioning the currency. E-Form should be correctly and properly filled in withiest any overwriting unauthentic corrections etc. Export registration number is correctly mentioned on the E-Form 2. NIC number with dale and place of issue. 3. and CCI & E Register number and date. 3.

Bank / branch stamp is filled . Advance payment voucher. Whether on sight basis or on usance basis. Advance payment is certified on the reverse side of „E‟ from under the seal and signatures of the authorized dealer which is required for reporting to the state bank of Pakistan.g. Israel.g. A proceed certificate is issued to the exporter. Country of export (destination) to ensure that the country where export is made is not a restricted one e. C1F or FOB. firm contract or consignment safe. It terms is of usance are beyond i20 days. j) Name and address of the foreign buyer (Importer).g. i) Mode of transportation.IV) V) Terms of payment e.Stale Bank of Pakistan permission is also required to be obtained. For such payments which is required to be produced at the time of presentation of documents for negotiation. Advance Payment Sometimes the exporter may receive the payment for the item to be exported in advance without waiting for documents in such a case the advance payment received for this purpose is required to be declared by the exporter on the prescribed form. VI) Term of sale e. C+F. CERTIFICATION After certifying the correctness of the E-' Form certification register in the folio allocated to each exporter separately. against Letter of Credit. .

If goods are not exported and „E‟ form is not presented to the customs the authorities. Three copies of „E' form are returned by the custom authorities retaining the original after endorsement of shipment on relative portion on 'E' form. Cancellation of form ‘E’ „E‟ form is canceled is 2 ways. Submission of 'E* Form: After certification of 'E' form all the four copies are submitted by the exporter along with shipping bill to (he customs authorities for clearance (^'consignment. The duplicate copies retained by the exporter while the duplicate and triplicate copies are submitted to the authorized dealers along with other documents for negotiation within 14 days from the date of shipment. the same is surrendered to the cancellation which . The bank retains the quadruplicate copy for its record while the duplicate coy is surrendered to State Bank of Pakistan or realization proceeds. the matter is reported to State Bank of Pakistan. 1. Utilization of ‘E’ Form „E‟ form should invariably be utilized and received within 21 days from the date of certification for 14 days from the date of shipment failing which the exporter is persuaded to submit without further delay.beneath the duly certified are delivered to the exporter or his authorized person. In case the exporter does not respond to the requests.

The bank submits all the three copies along with shut out notice to the state bank of Pakistan under a covering letter for cancellation and record at their recorded in the separate file duly marked „canceled‟. Shut out notice duly stamped and certified by customs to the bank. If „E‟ form has been tendered to customers authorities but the goods could not be shipped due to non – availability of space in shop or due to any other reason. COLLECTION MECHANISM EXPORTER Sales Contract Goods IMPORTER Proceeds Credit to exporter’s a/c REMITTING BANK Documents Bill paid/ acceptance and paid Bill Presented Documents Proceeds Remitted COLLECTIONG BANK . Collection mechanism explained diagrammatically. 2. the exporter is required to submit three copes of „E‟ form along with original.

The exporter ships goods to the importer‟s country. The remitting bank forwards the documents to its branch or correspondent bank in the importer‟s country called COLLECTING BANK. Step 4. under cover of its collection schedule called the COLLECTION BANK. Step 2. Exporter and importer conclude sales contract.Collection Mechanism Step by Step Step 1. Step 3. . The exporter through a covering letter and lodgment form forwards his bill of exchange along with the supporting commercial and transport documents to the remitting bank.

IMPORT  Opening the letter of credit  For issuing the L/C bank requires sufficient funds in the account of importer.Step 5. The importer pays the sight bill o9r accepts if it is a usance bill. Account to UCP 500 and extending the credit facility to the importer informs FIM (finance against imported merchandise) FATR (finance against trust receipt).  Arrange forward cover booking regarding import payments . The collecting bank (or the presenting bank if it is other than the collecting bank) presents the accepted bill to the drawee (importer) on the maturity of the bill for making payment. Step 9. Step 8.  Scrutinize the documents receive from flowing bank under letter of credit. as the case may be. Step 7. The remitting bank credits the proceeds to the exporter‟s account. The collecting bank remits proceeds to the remitting bank. The collecting bank if it is not the importer‟s bank will forward the documents to the importer‟s bank for presenting them to the importer of payment or acceptance of the bill of exchange. Step 6.

companies etc. Shaukat Babar. basic function of credit department is to extend advances by checking carefully all the documents. Also arrange forward cover booking for letter of credit open other then ACBL  Submission of monthly returns to SBP regarding the import on form I CREDIT DEPARTMENT Credit department deals with the extension of advances to individuals. for extending advances. Types of Advances. Incharge of the department is Mr. securities necessary for fulfilling the requirements which are necessary. i) funded advances ii) non funded advances Funded Advances Funded Advances Term Finance Revolving Facility .

and three year. Term Finance. ii) Account will be debited only once adjustments are possible further but account will be debited only once. . two year. House building finance is including in term finance. Main features of term finance are i) It is for proper time period. May be of one year. Term Finance Clean Secured Secured Finance.Funded advances are those advances in which funds of banks are involved.

L/C. securities i. Revolving Facilities. demand promissory note. Running Finance. Cash Finance. L/G. .Financing against Govt. salaries personal. Types of Revolving Facility. Proper limit is facility is called summing. enterprises.e. Documents Required. defense saving certificate. Documents Required. i) Running finance ii) Cash finance. These funds are extended against personal guarantee for salaries people. Clean Finance. LC of Govt. price bonds. It is extended the business community and Govt. letter of guarantee.

Credits policies & contract guidelines  Directors determine the commercial credit activity of ACBL  Delegation of authority to credit committee Policies are as follows  Credit principles  Credit portfolio limits  Credit approval  Credit administration  Credit monitoring Objectives  Provision of suitable credit services and products  extension of credit is out compromising the rules and regulations Performance .Cash finance against tangible securities.g. L/C. Non funded advances in which bank funds are not involved e. L/G. Non Funded Advances.

 Term facilities Aggregate term facilities in excess of one year should not exceed 30% of the total credit portfolio  Exposure to customer group Credit facilities extended any one or group must not exceed the guidelines currently inforce by the regulatory authorities. By a separate unit unconnected it credit approval.  Conditions .  Financing against shares Unsecured credit facilities will not be extended towards floatation of share capital listed companies.  Total facilities They must confirm it to the regulatory requirements.  Unsecured facilities Similarly the aggregate of all advances to a single person should not exceed the guideline.The advancement shall focus on the development enhancement of customer relationship Administration Administration should insure compliance that is all laws and regulations of regulatory authorities loans / facilities and related security shall be closely and regularly monitored and reviewed at the branch level. The aggregate of contingent or non-funds based facilities should not exceed ten times paid up capital and open all resources. Exposure against none funds based facilities.

Approved by the BOD from time to time. Credit will be extended in accordance to the authority levels.Borrowers liquidity ratio. Efforts should be made to determine the true identity of a customer and in case of cash transactions the source of funds is established.  Credit Approval. The primary individual factor determining the quality of the bank‟s credit portfolio is the ability of each individual authority. The current ratio of the borrowers must be equal to or less then one.  Credit risk assessment Prevention of criminal use of banking channels.  Credit reviews All limits shall be subject to at least an annual review. The debt to equity ratio should not exceed 60:40.  Credit administrations The principle amount of credit add are as follows  Credit approval  Credit file maintenance  Facilities evidence  Credit monitoring and review  Bank ACBL  Capital funds  Credit facilities / extensions .

hypothecation. charges or mortgages on tangible readily realizable assets. the single way for the bank to earn profit lies in lending . This is the primary factor which toads towards lending of money by Banks. No doubt. and exchanging units. The most easy way to make fund available to seek assistance by such agencies including Banks which have got surplus funds and will to come to the assistance of producing units. for example Bank.  Credit committee Head office credit committee only Objectives of Lending In the modem economics. Actually it is very difficult for the modem businessman to run his business on a huge scale solely.  Security is often an additional security over & above the assets. For example advance allowed against stock in trade. which incur the back in monitory loss in the case of non payment or non performance by the customer. more than 90% business concern raises their funds from various financial institutions to meet their multifold transaction.It means granting of financial accommodation or considerations to a customer. He has to float his shares to the public or knock the doors of financial institutions.  Secured Advances Pledges. and distributing units.  Unsecured / clean Which are not covered by any tangible security. we cannot neglect the second factor profit orientation while running the credit business.

money to the customer on comparatively higher rate to mark-up that it gives to the depositors.

Principles of Lending
Apart from the instructions and directives sent by the state Bank of Pakistan, Muslim commercial Bank, Ltd. Guided by three basic principles of profitability, safety, and dispersal.

1. Profitability
The management of Muslim Commercial Bank, ltd. Is very careful to seek advances where advances can generate a higher return. Bank has to spend huge amounts on establishment, payment of profit to depositors, salaries of the staff, other variable expenditure and to provide a fair return to the share holders, it must therefore, earn profit.

2. Safety
Safety principle is very important. No one will take a risk of losing the principle in order to earn profit. So bank will prefer to lend at lower rates than to risk his money for higher rates. For making his advances safe, a bank select his borrowers cautiously. Safety does not necessarily means the taking of security. It would be wise, not to lend however, good the security be if it is clear that it will have to be realized for clearance the debt. Safety also employs the borrower's ability to reply without difficulty. Another aspect of safety is the lenders legal right to claim repayment from the borrower.

3. Liquidity and Disposal
In its simple definition liquidity means the easy convertibility of an asset into cash. But when we speak of liquidity in relation to advances, it is rather different, It means the adjustment of advances at a short notices. Bank advances are made in such a manner that they are repaid in reasonable period so that the bank can make new advances. Dispersing the advances in reasonable amount over a large number and types of borrower is necessary to avoid bid debt, stick up by single or few borrowers. It is therefore, necessary to advance moderate sums to a large number of customer engaged in different types of industries.

Selection of Borrowers
The selection of a reasonable and trustworthy borrower is complicated and at the same time very sensitive task which requires decision-making power from the bank employees. In the words of the manager of a branch of Muslim Commercial Bank, Ltd. "Good selection of borrowers does the half task in the profit of the Bank. 'Bank do not through money away but every application is tested carefully before being sanctioned. To assist the Branch manager in this test, bank provides a performed, outlining the manner in which a proposal should be put forward for consideration. If any specific information that is required is not mention, it affects the proposal as a whole, making it appear weak or inconvenience, it is therefore, necessary for credit officers to see that all relevant questions following are, as far as possible completely and exhaustively answered.

Following are 6'C, S and 3P's, which are considered before lending:



The bank get to know the customer we!! and be able to judge his intentions, for the bank shall be entering into a contract with him involving the financing of his business. It is, therefore, common and business senses to make sure that the other party to this contract will live up to his obligations, this factor, therefore, contributes significantly to the safety of the advances, as it relates to the willingness to repay under all circumstances. Particularly adverse circumstances. Are the partners or directors of the business unit, which is seeking finance, persons who can be relied upon as regards details of their proposal as will as promise of repayment? What is their reputation in the market place for meeting their commitments in respect to prices & delivers to purchasers and timely payment to their trade creditors? Confidential and tactful inquiries from wholesalers, suppliers and other bankers are necessary to obtain this essential information.



This factor relates to the ability of the borrower to manage his business successfully. Do they have the necessary management, accounting and technical skills? And the degree of experience, in the particular line of business for which the finance is required, to utilize the advance productively and profitably, so that repayment is possible, along with our share of the profits? This ability can be judge from the trading results. A study of the company's audited financial statements for the past few years

can it be sagely reduced to an acceptable & practicable level? Past experience has taught bank that it is unwise to lend more than is actually required. collection of receivable and management of accounts payable. the trends of gross & net profit margins indicate the profitability or other wise of the business. The efficiency of the management can be Judge from the turn-over ratios. As commercial banks. 3. is the next point to receive the branch manager's attention. a check on the memorandum & articles of association is necessary to ensure it is within prescribed limits. Is the amount required in proportion to the borrower's capital and contribution to the project? Is it within the powers of the borrower? In the case of a corporate customer. stagnating or declining or declining. Cash Flow The source of repayment should be ascertained at the beginning. 4. be largely confirmed to provide short" term finances to business customer. Hence financing the current assets of traders and manufactures. Under the circumstances. Capital The proportion of the borrower's own resources to the amount of finance is requested. as it sometimes has led to speculative uses of the surplus. Would ensure that repayment would normally come from the sale of inventory and the realization of account receivable of our customers.would real whether sales have deep growing. bank advances must. Similarly. If the amount describe to be borrowed is too large. If we are confident of the customer's ability to .

there should be no doubt about repayment. 6. cash flow statements and profit projections need to be submitted by the borrower and carefully evaluated by the credit the right materials. at right markets and be able to produce finished goods which can be readily sold. or will additional competitors or new competitors with the latest technology result in reduced profit margins? Is the product essentially required. Accordingly to nature and prospects of the customers' business need to examine will it continue to prosper. Collateral . to examine the conditions which the firm is operating. 5. which will instill confidence in the banker. at a satisfactory profit. This requires identification of the factors that have up to now contributed to the success of . For this purpose. it is necessary to maintain & update at the time of renewing the advances. Therefore. and to Examine factors change has recently occurred or is likely to occur in the near future which will adversely affect the profitability and prospects of the customs.the business. in a wide market with continued demand? The industry conditions and the firm's place in industry and its market share need to be examined demand? The industry conditions and the firm's place in the industry and its market share need to be examined. Conditions From quantitative and qualitative information the bank need. An important quality here is the management's tendency to look and think ahead to anticipate and adapt to change by diversification or otherwise.

In case the business plans of the borrower. due to circumstances or developments beyond his control. It is the final safe and credit officer should be able to identify appropriate assets. It should be easily realized.The unity's needs demand that banks put them to the best possible for which the finance will be used. whether a valid charge should be created by the borrower over his asset in favor of the bank should be such that the bank can obtain a good title with minimum formality and expense. within the credit policy the bank? In conformity with the country's laws. therefore. credit control and exchange control requirements. which would most suitably serve as security.e. received form depositors. Its value should be easily ascertainable and stable. Security is. Purpose Credit resources are scarce but have alternate uses. Is it a desirable one from the economic and banking viewpoint? Is it for productive of emulate purpose? In short. in the given circumstances. in case of nee.Since the bank is lending money. they're in need to ensure mat the purpose is conductive & within the borrower's normal sphere of business activities and scale operations. Finally security be obtained & formalities completed before the finances is disbursed. Period . The qualities which constitutes a good banking security are transferability i. which it has. 7. the bank must ensure that there is a second way out. 8. do not work out. taken as a form of insurance.

b. e. EBI do grant medium-term loans but to a limited extent. CREDIT CARD DEPARTMENT Mr.Short-term advances are favored that is for not more than a year. c.asset financing need industrial customers. . Three Photographs Hypothecation agreement Prove of income. f. PROCEDURE FOR ISSUANCE OF CREDIT CARD. Ali Gardezi deals this department. In modern world it is modern mode of money transaction because it is easy to carry. renewable each year. Essential documents are obtained from the customer which are: a. 1. for the fixed. National ID Card Statement of Accounts of last 3 months. One for the existing customers and other for new customers. Letter of Lien. d. if still justified. and seasonal loans for agricultural purposes. There are two procedures for issuing credit cards. Accordingly the most usual purpose is to assist manufacturing and trading customers in their need to purchase current assets in line with their production or trading cycle. Being a developing country. Credit card is also called Plastic Money.

2. master cards certain limit is mentioned. . 3. ACBL also pays certain percentage to City Bank. i. They have to sent their credit cards. ASKARI MASTER CARDS. 1. they have given the authority of master cards to two banks. Card holder means primary card applicant. First is City Bank and second is Bank of America.g. ACBL takes master card from city bank and then issue to the customer. h. Direct Debt Authority Latest Financials of the Company. American companies are Visa Card and Master Card. ACBL takes the yearly fee. credit sale fee for issuance of the card. j. late payment fee. But ACBL is issuing only master cards. interest fee. visa card issue by the bank to the account holder. ACBL has the agreement with City Bank. City Bank has the authority for the master cards for applying credit cards. 2. ACBL is incorporated under the companies ordinance 1984. 4. Customer Guarantee. 3. Card center means credit division which is in Rawalpindi. Letter of set off. Card means applicable master card. ACBL has the facility of master card only.

ACBL Multan branch deals n only Master Card. 5.  Master Card  Visa Card But due unavailability of visa card machine in Multan. In ACBL limit is for 40 days and after 40 days the card holder must have to pay 10% of the total expenditures. He told me that the bank is authorized to issue the credit card of two companies. There are following types of master card. 5 days are grace period. For example for silver card. 6. Credit advances means an include any amount sanctioned and advance by the bank. Card account means master card and visa card accounts opened by the bank for the purpose entering debt. which are under bank of America.4. On the request of card holder the determination of such cash advance shall however be at the discretion of the bank. Credit limit means the maximum limit permitted by the bank on the card account for the applicable card. cardholder can take the maximum amount ranging between .  Silver card  Gold card These are different due to their credit amount limit.

Rs. 30. For gold cardholder this limit has been extended to Rs.  Gold cardholder is charged Rs.  Silver cardholder is charged Rs. And he is special charged Rs. ISSUING PROCEDURE Credit card is issued to three types of parties. there are certain fee charges to by the bank. 750. on the basis of . 300. 1200 but if the cardholder is Army officer there is special discount for him. 3500.000. which is different for different cards.  Local cardholder is charged Rs.  Professional (Govt & private officers)  Business man  Landlord.000. PROFESSIONALS For professionals bank require  Authorized letter from the concerned organization in which he works. 200. ISSUING CHARGES When the card is given to cardholder. 2500.000 to Rs. This letter shows all particulars about the person.

the person is totally new. and the bank doesn‟t know anything about him. And then when it is sured that the business has the ability to cover the expenses of credit card and to pay it at any time. But in order to facilitate the cardholder. BUSINESS MAN In the case of businessman bank need  Balance sheet of businessman. the bank avoids issuing credit card to that person. Land Lord In the case. Usually. there is more chance of default in this case. the bank issues the credit card.  Turnover of 5 years. PAYMENT PROCEDURE The cardholder should have to pay all the amounts what he has consumed. For this bank need an account having the amount over and above the credit card limit of that credit card. bank open on account and some feasible amount is required.  Type of business. 5% is the minimum limit that the bank requires and that should be paid monthly. If you paid only 5% then . so.these particulars.

what I feel should be there are:  Human Resources Department should be there in order to motivate and trained the employees. I have noted some dissatisfaction among the employees. So the building should be extended LATTER Posted in: Banks and Financial Institutions. 100 are the additional charges charged to the next month payment apart form the 2% interest.2% interests will be charged on remaining amount and it is added into the next month payments. due to in efficient promoting system. So the bank should provide clean and on the merit basis promotion system. The building under operation is in adequate for such a large staff. If that 5% is not paid then Rs.  The bank is now over staff. TODAY‟S POSITION OF BANK RECOMMENDATION During my internship.Internship and Apprenticeship Newer Post Older Post Home 0 comments: Post a Comment Links to this post Create a Link Search dow nload-reports .

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