Professional Documents
Culture Documents
Acknowledgment: G.M Malikm Whose Guidelines Have Always Been With Me During Completion
Acknowledgment: G.M Malikm Whose Guidelines Have Always Been With Me During Completion
ACKNOWLEDGMENT
Man is not perfect in all the context of his life. Although today man is doing
some difficult and nearly impossible things, but his mind is still limited and has minor
thinking approaches. It is mercy of almighty ALLAH who blessed man with mind and
knowledge and make him able to do a lot of things. It is almighty ALLAH who shows
the man light in the darkness and man finds his way to the light. Without blessings
of almighty ALLAH man is nothing but a helpless creature.
Same is the case with me, I also face many difficulties during
completion this report and have been successful in my duty only because of the help
of almighty ALLAH.
I feel pleasure to admire all the management of department of
commerce B.Z.U Multan whose tireless efforts are fruitful for the student and
better educational atmosphere. I am thankful from my depth of heart to Sir
G.M Malikm whose guidelines have always been with me during completion
of report.
I also pay thanks to all my friends.
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THE BANK OF PUNJAB.
INTRODUCTION OF BANKING
Commercial Banking and its Functions
The word “Bank” is said to have been derived from the Latin word
“Banque” or “Back’ or “Bancus”. The history of bank dates back as
early as 2000 B. C. Since then commercial banking has passed many
phases. The commercial banks perform so diversified functions that it
is not possible to define the word bank.
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THE BANK OF PUNJAB.
Basic Functions
These include:
1) Accepting of deposits
2) Making advances and loans
1. Accepting of Deposits
a. Current/Demand Deposit
b. Saving Deposits
c. Fixed Deposit
2. Making Advances and Loans
a. Running Finance
b. Term Finance
c. Project Finance
Agency Services
These include:
Collection of Cheques
Collection of Dividends
Purchase and Sales of Securities
Execution of Standing Instructions
Collection of Bills
Acting as trustees or Executors
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THE BANK OF PUNJAB.
Transfer of Funds
General Utility Services
These include:
Supplying Trade Information
Issue of Travelers Cheques
Issue of Credit Cards
Foreign Exchange Business
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THE BANK OF PUNJAB.
This situation was not proper for the development of country. The need
was felt to establish a sound banking structure to strengthen the
financial sector of country. Quaid-e-Azam himself took initiative and
interest. In result, State Bank of Pakistan was established. Then in
1949, National Bank of Pakistan was established. However, in 1974,
the banks were nationalized and five major banking companies were
made. However, the performance of these nationalized banks did not
show the performance for which this step was taken. Therefore. The
Govt thought it beneficial for the banking sector to reverse the action
and privatize the banks. In 1991two banks Muslim Commercial Bank
and Allied Bank of Pakistan were privatized. Along with these steps, so
many other banks were also given permission to be opened in the
country. Because of that certain other banks like Bolan Bank, Khyber
Bank, Metropolitan Bank, Union Bank etc. started working in Pakistan.
The foreign banks also opened their branches in Pakistan.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
HIERARCHY
President
Vice President
Officer Grade 1
Officer Grade 2
Officer Grade 3
Operational Staff
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THE BANK OF PUNJAB.
LIMITED PAKISTAN
BOARD OF DIRECTORS
Chairmam: Shaikh Nayahan Mabarak Al Nahayan
Name Designation
Amar Zafar Khan President & CEO
M. A. Mannan Deputy CEO
Nauman Hussain Director Operations & Utilities
Mansoor M. Khan Head Corporate Banking Group
Shaharyar Ahmad Head Investment Banking Group
Shahid Waqar Mehmood Head Commercial Bank
Aman Aziz Siddiqui Head International Operations
(Dubai)
Ali Sameer Chief SAM (Domestic)
Risha Moheyuddin Global Treasurer
Khalid Munawaruddin Head Credit Policy
Supervision
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THE BANK OF PUNJAB.
PUNJAB
segments of banking. Augha Hussain Abdi was the founder and first
and commerce. The Bank is playing an active role to meet the financial
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THE BANK OF PUNJAB.
which stage only three bidders were left. The consortium comprising
Bestway Group (BG), out of the UK and Abu Dhabi Group (ADG) from
the UAE were finally the winners at a record price. The signaled the
THE BANK OF PUNJAB has taken progressive steps and has introduced
innovative products and services to provide you a variety of banking
and financing services.
Hamrah - Rupee Traveller Cheque, Now Offers Rewards For You
Cheque Encashment Facility - cheque encashable at any designated
branch
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THE BANK OF PUNJAB.
CUMMUNITY SERVICES
THE BANK OF PUNJAB is committed to the welfare of Pakistan. It lends
and well being of the common man by lending house building finance
and loans to set up small businesses. THE BANK OF PUNJAB has played
Complex.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
MEHRBAN MULTAN
Mehrban Multan under the kind supervision of Mr. Abdul Samad & Mr.
Ahmed Nawaz.
OPENING OF ACCOUNTS
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THE BANK OF PUNJAB.
a) INDIVIDUALS
b) PARTNERSHIP FIRMS
c) JOINT STOCK COMPANIES
d) AGENTS
e) CLUBS, SOCIETES AND ASSOCIATIONS
f) EXECUTOR AND ADMINISTRATORS
g) TRUSTS
h) LOCAL BODIES ETC
Some essential points that must not escape the attention of the
officers while opening the accounts:
I) As far possible, the Branch Managers themselves should
handle the account-opening job. Only in exceptional cases at
Main Branches, the job may be assigned to the manager
operations.
II) As much relevant information as possible must be elicited
from the prospective customer relating to his means, line and
place of business.
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THE BANK OF PUNJAB.
III) Each and every column of the account opening form should
be neatly and correctly filled in with necessary details.
IV) Accounts must he properly introduced. In this concern, the
following precautions arc to be observed.
i) As far as possible, the person introducing the account
should attend the Bank personally with the prospective
customer. This would serve the dual purpose.
a) The Branch Manager shall have the opportunity of eliciting
vital information as to the standing, prospect ability and the
means of the person he is introducing.
b) The identity of would be customer is established.
ii) In case the person introducing the account does not call at
the Bank, extreme care should be taken while verifying his
signatures and guidance.
iii) Introduction from persons having doubtful dealings with the
Bank should be declined,
iv) Current account holders can introduce both types of
accounts viz. Savings Bank Account and Current Accounts. However
Introduction, from savings Bank Accounts holders should not be
accepted for opening current accounts. Exceptionally,
Introduction by customers of good standing may be accepted in Cases
where they maintain substantial balance and these Accounts are
sufficiently old.
vi) The Staff members generally allowed not Introduce the account.
They will introduce accounts only for those persons who are personally
known to them and whose credentials are about to clean.
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THE BANK OF PUNJAB.
who is then aware of the particulars furnished and can corroborate the
same.
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THE BANK OF PUNJAB.
a) Individual
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THE BANK OF PUNJAB.
2. In the case illiterate ladies and gents, the following precautions are
observed in addition to those provided in the above guidelines.
Two photographs are to be obtained. One to be pasted on
account opening form and the other on specimen signature
card.
Instead of signature, right hand thumb impressions to be
obtained on the specimen signature card from the ladies.
Each time such a customer should attend the bank personally
and will put their thumbs impressions on the cheque before
the officer.
Such a customer should be advised not issue cheque payable
to 3rd parties,
4. When the account is opened by more than one person but the
relationship between them is neither of trustees nor partners, it would
be termed as joint account.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
a) Eligibility
Sole proprietary concern is perfectly eligible to open bank
Account/s. However, as it is a business concern, a PLS Saving Bank
Account is to be opened in the name of the firm.
b) Introduction
Proper introduction is required for opening an account of such
Enterprise.
c) Documents required
Usual documents as in case of opening accounts for an individual
are required. However, while opening such accounts, it must .be
established that the proprietor desirous of opening the account is
the sole proprietor of the Business in whose name the account is to be
opened. This is done by getting the proprietors, statement
"'Declaration-11 “on reverse of the account opening form.
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THE BANK OF PUNJAB.
C) Minor's Account
According to section 3 of the majority act, 1875.
A person who has not attained the ago of 18 years is said to be
A MINOR, However where guardian is appointed by the,
Competent court of law, majority will be deemed when the minor
attains the age of 2"1 years.
Legally, a minor cannot upon a bank account since opening of bank
Account is the result of contractual relationship which minor does
Not possess. However in order to inculcate the habit of savings,
Deposit account may be opened in the name of (.ha minor jointly with
Her/his guardian. Operation of the account nevertheless shall rest
With the guardian.
A minor may open any of the following types of deposit account along
with his/her guardian:
o PLS Saving Bank Account.
o PLS Term Deposit Account.
o PLS Special Notice time Deposit Account.
o Call Deposit Account.
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THE BANK OF PUNJAB.
Guardian".
4. Account is to be operated by the guardian only.
5. Following stamp is to be affixed invariably on the account opening
Application form.
"Guardian will continue to operate upon the account oven if
Minor attains majority."
6. Minor can neither give stop payment mandate nor can claim the
Balance during his/her minority where the guardian is alive.
7. On attaining the majority and after providing sufficient
Constructive proof of his major ship.
E) Joint Account
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THE BANK OF PUNJAB.
Power to draw cheques does not of itself carry the power to overdraw
the account unless specifically authorized to do so, because one joint
account holder would not so responsible for a debt created on the
account by another. Thus, arrangements are provided in the mandate
to create an overdraft to run side by side / with power to draw
cheques.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
the survivor(s), simply because under the Law of devolution all rights
and liabilities pertaining to the estate of deceased pass on to his
survivor or survivors, hence they become entitled to receive the
balance amount on the death of one or more Joint Customers.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
Private Ltd. Companies are those where the share capital is not offered
to the general pThe bank of punjabic instead offer is restricted to a
particular class of society or within the family members. Generally their
shares are not transferable. The minimum number of shareholders is
two and the maximum of 50.
While opening the company's account, the bank manager must ensure
that board of directors of the company is properly constituted and
requested for opening the account comes through resolution of the
board of directors, the resolution should be signed by the chairman of
the meeting where such resolution is passed and counter signed by the
company’s secretary or authorized director. It should also bear
common seal of the company.
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THE BANK OF PUNJAB.
1. Memorandum of Associations
It is the constitution of the company. It sets out the objectives for
which the company is formed. It lays down the foundation with in
which the company can operate.
2. Article of Association
It contains the rules and regulations for day-to-day operation of the
3. Certificate of Incorporation
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THE BANK OF PUNJAB.
remembered.
For the pThe bank of punjabic Limited company in the absence
of the commencement of business, any contract made by the
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
CASH DEPARTMENT
1. Cash Receipt
Periodicals detailed instructions have been issued on cash receipt /
cash payment via HO operation Circular. However, following points
may be kept in view while receiving cash on counter invariably.
o The depositor duly signs deposit pay-in-slips.
o Cash received stamp should be affixed on both the portions
voucher & the counter foil.
o It should be signed by the officer receiving cash and duly entered
in the cash receipt book.
o Detailed denomination of cash must be noted on the reverse of
the pay-in-slip. So that, in the case difference in cash it could be
tallied with the cash detail noted on the reverse of the pay-in-
slip.
o Immediately after the receipt of cash, it should be entered in the
computer. The relevant officer signs on the both portions of the
pay-in-slip. The left portion of the slip is turned to the depositor
and the right portion is kept by the bank.
2. Cash Payment
While making the payment of cheque, special attention will
nevertheless be given on the following important points.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
DEPOSIT DEPARTMENT
One of the various facilities, which are provided by a commercial bank,
is that of ‘Locker’. This facility is extended only to valued clients.
Locker’s business is covered under the contract of bailment; section
148 of the contract act 1872 defines a bailment as.
“Delivery of goods by one person to another for some purpose upon a
contract that they shall, when the purpose is accomplished, be
returned otherwise disposed of according to the directions of the
person delivering them. The person delivering the goods is called the
bailer and person to whom the goods are given is called the bailee.”
The bailer and the bailee, under the locker’s business is known as
LICENSOR AND LICENSEE respectively (where bank is the licenser and
customer is the licensing).
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
Profit and Loss sharing saving bank accounts are opened in the
names of individuals (Both Single and Joint), charitable institutions
for provident fund of local bodies, autonomous corporations,
companies, associations, societies and educational Institutions and
in all other cases where such accounts are required to be opened
under the orders of competent court of law. These accounts are
based on Profit & Loss sharing system.
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THE BANK OF PUNJAB.
The requirement for then minimum initial deposit varies from bank to
bank. According to the bank’s circulars minimum initial deposit should
not be less than Rs. 5000/-. However sometimes managers even
accept an initial deposit of lesser amount. In The bank of
punjabLimited, minimum initial deposit of Rs. 10000 is acceptable.
A distinctive number is allotted to each account and this number is not
re-allotted even if an account is closed.
Deposits
Money is deposited in customer’s account by way of bank’s printed
pay-in-slips. These pay-in-slips should be stamped in the name of the
branch and should be jointly signed by the receiving and another
authorized officer of the bank. The signature of the depositor (any
person) should also be obtained on the pay-in-slips. The pay-in-slips
containing account number and title of account should be properly
filled in by the customers and checked by the cash-receiving officers.
Withdrawals
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THE BANK OF PUNJAB.
Cheque Books
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THE BANK OF PUNJAB.
business at 6th day and the last day of the each month. No profit is paid
on any balance, which is below Rs. 10000.
The bank has the right to debit its customer’s account In respect of
losses on the basis of half yearly/yearly closing of bank’s books of
accounts.
Transfer of Accounts
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THE BANK OF PUNJAB.
Deposit Modes
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THE BANK OF PUNJAB.
Central Government.
A provincial government.
A local authority.
A banking company receiving profit on inter-bank deposits from
another banking company.
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THE BANK OF PUNJAB.
Pre-maturity Encashment
The deposit, as term indicates, should remain with the bank for the
period agreed to and profit is paid accordingly. However, it happens
sometimes that depositor desires to en-cash the receipt before
maturity, the bank allows encashment of TDR before maturity with
certain penalty at the rate of 2% on the un-expired period of TDR.
Nevertheless, no profit is paid if the TDR is presented for encashment
before 3 months. In this case, only principal amount is paid to the
depositor.
Renewal of Deposit
Term deposit is not automatically renewable. It can be renewed for
similar period upon receipt of depositor’s written request on or after
the maturity date, to get now PLS TDR the depositor is required to
present the old PLS-TDR duty discharged. The depositor is required to
mention specifically whether or not the amount of profit accrued be
added while renewing the old PLS-TDR.
Other features
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THE BANK OF PUNJAB.
Deposit Modes
Cash
Cheque
Conversion of other deposit/s
Deposit limit
Deposit is accepted for any amount i.e. no limit on maximum amount.
Terms of Issue
A special notice time deposit (SNTD) is either withdraws able at notice
of 7-29 or 30 days.
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THE BANK OF PUNJAB.
Zakat Deduction
Zakat is deducted@ 2.50% from the eligible depositors irrespective of
the amount of SNTD provided the deposit remains with the branch on
1st of Ramzan.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
REMITTANCES DEPARTMENT
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
Dr. – DD Payable
Cr. – Payee account on Cash
4. In DD is presented In other bank, then it comes to Drawee
branch through clearing and following entry is passed:
Dr. – DD Payable
Cr. – HO A/C
5. Signatures are always verified on all drafts drawn on a branch.
6. Normally, payment of a draft should be made after receipt of a
corresponding advice. In case the advice has not been received.
Payment should be executed through the approval of the
manager at the Drawee branch who should satisfy himself with
regard to the authenticity of the draft in term of signatures and
otherwise. The draft paid ex-advice should also be debited to the
demand draft payable account.
7. On the receipt of advice from the drawer branch, signature
should be verified and test verified if the amount of draft
exceeds Rs. 5,000/-
8. The particulars of draft should be entered in DD payable register.
9. The draft when paid should be marked in the DD payable
register.
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THE BANK OF PUNJAB.
Mail Transfer
Sometime a constituent of the bank wants to transfer funds from one
account to another, or a non-constituent wishes at remit funds in a
particular account maintained at some place with a branch of the bank
or when the accounts are transferred from one branch to other, such
amount/balances are remitted by means of mail transfer. The
procedure for issuance of a mail transfer is the same as discussed for
the draft except that the applicant is provided with the memorandum
for money received from him for issuance of a mail transfer on the
particular branch of the bank. Mail transfer advice is sent to the paying
branch where it is treated as a credit voucher because money only
transfers in the account of payee in paying branch.
Payment of MT
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THE BANK OF PUNJAB.
Generally mail transfer advice reaches the Drawee branch next day
when courier arrangements exist. However when it is sent through
post offices it usually take 2 to 3 days to reach its destination. But
sometimes an individual whether customer or no, demand that this
funds should be transferred from one place to another through the
quickest means. In such cases transfer of funds message is passed on
though a telegram, ordinary or express, to the Drawee branch of the
bank. A tested message is sent to the drawee branch followed by the
confirmation copy.
Payment of TT
A TT facilitates urgent transfer of funds either by a telegram or through
telephone. A step-wise procedure relating to the payment of TT at the
Drawee branch is as under:
o The originating branch passes following entry.
• Dr. – Cash
• Cr. – HO A/C
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THE BANK OF PUNJAB.
Payment Order
practical purposes.
1. To facilitates all locally payable expenses on account of a bank
for the reason that such payments are not executed through
cheques.
2. For all local payments under instructions of customers for sundry
purposes like payment of insurance premium, payments to third
parties, club bills, rent and taxes etc.
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THE BANK OF PUNJAB.
Issuance
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
ensure that the bank stands discharged from the payment in due
course.
Balancing
ACCOUNTS DEPARTMENT
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THE BANK OF PUNJAB.
finance of the bank. Salary payment is also one of the functions of the
bank.
Accounts department deals and checks the daily banking activity all
vouchers that has been posted to the computer are scrutinized in the
accounts department. The “end of the day” computer print is also
received. The next day activity separated some statement from end of
the day. The vouchers are sorted head wise. The vouchers are
matched with the entries in the statement.
Any abnormality if occurs can immediate be catch. All the vouchers
and instructions are checked individually against the computer
printouts. After checking they are signed by all the officers.
Other activities
INWARD REMITTANCES
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
CLEARING DEPARTMENT
Following types of cheques are collected by clearing department.
TRANSFER CHEQUES
Transfer cheques are those cheques, which are collected and
paid the same branch of bank.
CLEARING CHEQUES
When the payee or endorsee (which deposits the
cheques for collection), and the drawer of a cheque maintain
accounts with different banks the paying bankers.
The most efficient methods of collecting and paying such
cheques is that in which those cheques (claims of money) are
exchanged by representative of the various banks, who most at
a fixed place at fixed hours, and make their settlement through a
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THE BANK OF PUNJAB.
BANK ADVANCES
The financing the bank of an organization through loan/advances
is known as advance and it through either.
1. Deposits
2. Shareholder’s investment
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THE BANK OF PUNJAB.
BORROWING GUARANTEE
The borrower has to give more guarantees against the
advances. The guarantee is provided by the contribution sources
of the business. Bank always analysis the chances, of
repayments the amount and normally make 85 percent advance
on 100 percent security. Therefore, before giving the advance
bank the credibility of the borrower and also checks the
feasibility of the project.
If the feasibility satisfies the bank that the project has the
ability of profitable returns the advance will be make.
PLEDGE
In this method some tangible goods or some important
documents are deposited to the bank. If the borrower makes the
fails, bank has the authority to sell that goods or documents to
meet its loss. In the method, of there are any custody charges,
these are bearded by the borrower.
MORTGAGE
In this method borrower gives the charge to the bank for any
part or whole of his property there are two kinds of mortgage.
• Legal Mortgage
• Equitable Mortgage
Legal Mortgage
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THE BANK OF PUNJAB.
Equitable Mortgage
It is written on a bank page. Equitable mortgage does not
allow the bank to sell the defaulters property. For selling the
property a power of attorney and sanction of the court is necessary.
LEIN
By lean we mean the right for retaining the property of any
debtor until the recovery of the debt.
• Specific lean
• General lean
Specific Lean
In this type of lean the retainer has the right on that good
against, which the debt is due e.g. a motor mechanic has a lein on
motor car against the repair charges.
General Lien
In this type of lien the bank has the right to retain the
goods to which the debt is due in addition of any balance due.
GUARANTEE
In this method a guarantor gives an undertaking that he
will be responsible if the borrower to repay the debt. Usually
agriculture loans are given through guaranties.
LEASE FINANCING
Making periodic cash payments installment to another
firm, which passes the asset, does it. Once an asset is acquired for
us without having its ownership the owner firm is called lessor and
he user firm is called leasing. This type of arrangement is
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THE BANK OF PUNJAB.
CASH FINANCE
It is a seasonal finance this type of finance is related with
trade. It is a type of sale transition at price set by mutual
consultation of bank and the client, e.g. client applies for grant of
Rs. 1000 for purchasing price or wheat, the bank will purchase price
with Rs. 1000 and will keep it in its own godown. Now when client
will come to have rich he can get only that portion of price for which
he will payment. Client or party also bears other expenses of goods
in godown under locks key.
HOUSING FINANCE
This type of financing is made when the client has to
purchase a house or a flat or has to construct a house/flat. Bank
purchases that house to and sell it to the client simultaneously at
the marked-up price. Repayment can be made in lump sum or in
installments. In a case or installments, it becomes long term
financing. Minimum and maximum financing of the bank is Rs.
150000 to Rs. 300000 respectively. The period (if allowed). Banks
finances the client only up to 60 percent of the price of the house.
The client can make repayment in 15 year or in 180 equal
installments monthly. The repayment of installment starts after the
expiry of grace period.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
BANK CHARGES
Drafts
Issuance of Demand Draft
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
Issuance or new
Cheque book in lieu
Of lost cheque book Rs.150/-
US$ 5 for F.c a/c
Account closing
Processing fee Rs.250/-
Rupee A/C
US$ 10
For F.C A/C.
Salary Disbursement
Charges Rs.25/- from
A/C holder
Per account
Per month
Where salary
Is credited.
Gove pension
Disbursement Rs.10 per account
Per month where
Pension is credited
Note:
No charge to be recovered from the account holder. If charges are
recovered from remitting organization’s main account under
agreement.
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THE BANK OF PUNJAB.
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THE BANK OF PUNJAB.
SWOT ANALYSIS
Strengths
The bank of punjabLimited has following strengths.
Fast Service
Another very important aspect of THE BANK OF PUNJAB is its fast
service. Every thing goes very quickly. If you are looking for a loan,
they can give it to you in only 4-5 days, and approval by head office.
Weaknesses
The bank of punjabLimited has following weaknesses.
The bank of punjablimited is centralized. It means, authority is
not delegated to branch level. Manager can’t take initiative
regarding different decisions such that for giving finance.
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71
THE BANK OF PUNJAB.
Opportunities:
Government Policies
Threats
NTERNSHIP REPORT
72
THE BANK OF PUNJAB.
NTERNSHIP REPORT
73
THE BANK OF PUNJAB.
NTERNSHIP REPORT
74
THE BANK OF PUNJAB.
NTERNSHIP REPORT
75