Prime Bank Ltd

8/11/2019 Prime Bank Ltd.

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Particulars

Page No.

Executive Summary 6Chapter I: Introduction to the Report

1.1. Origin of the Report 8

1.2. Rationality 8

1.3. O!ective" #

1.$. %uration #

1.&. 'rea of Operation 1(

1.6. )etho*ology 1(

1.+. ,imitation" 11

Chapter II: History of Prime Bank Ltd 13-1$

Chapter III: General Banking Services of Prime Bank Limited

3.1 ntro*uction 16

3.2 %ifferent %epartment of /0 16

3.3 %ifferent type" of cu"tomer'ccount hol*er 163.$ ' Opening %i"patch %epartment 1+

3.& Re4uirement"Nece""ary formalitie" for opening each type

5 Of 'c. 1#

3.6 Eligiility to open an 'c 21

3.+ 'ccount" Opening of u"tomer ith the 0an7 21

3.8 ""uing of a he4ue 23

3.# learing Section 2+

3.1( ollection Section 283.11 'ccount" Section 2#

3.12 a"h Section 31

3.13 onclu"ion 32

Chapter I: !ther Banking services

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$.1 Online 0ranch 0an7ing 3$-3&

$.2 )a"ter ar* 36-3+

$.3 S9: 3+

$.$ %epo"it Scheme" of Prime 0an7 38-$&

Chapter : Bank Rating

')E, Rating of $8 0an7" $+

Chapter I: Recommendation" conclusion and Bi#liography

Recommen*ation &1

onclu"ion &2

0iliography &$

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$%ecutive Summary

:he report cover" the three month" intern"hip program a" the 00're4uirement". 9rom 16 'pril 2((8 to 1& ;uly 2((8< have or7e* ith the&epartment of General Banking Services of Prime Bank Ltd' at0a"hun*hara 0ranch. :he o!ective of the pro!ect i" to analy=e the Overall0an7ing Service" an* /eneral 0an7ing Service" offere* y Prime 0an7 ,t*.

>e"< Prime 0an7 ,t*. a an7 ith a *ifference i" a fa"t groing privatecommercial an7 hich i" primarily *rive y creating opportunitie" an*

pur"uing mar7et niche" not tra*itionally met y conventional an7". /eneralan7ing "ervice" are the core activitie" of the an7 an* have prepare* thi"report a"e* on thi" *epartment. So thi" part i" the main part of thi" report.:he "ervice" of Prime 0an7 ,t*. have alrea*y een e"tali"he* through out0angla*e"h.

have prepare* thi" report ithSi% chapters. 'll chapter" inclu*e aout

Prime 0an7 ,t*.Inchapter one" have intro*uce* the report "uch a" origin form

Partner"hip % '

ntro*uction of the partner" @)u"t e y a % ' account hol*eror an employee of the an7.

Photograph"- @:o opie"A of every partner.

Iali* :ra*e ,icen"e.

Seal.

%ate of incorporation.

Photocopy of vali* pa""port of the proprietoriti=en"hip

ertificate or *entity ertificate from hairman or ar*commi""ionerertificate from the employee of the an7.

Partner"hip ,etter.

'**5

:ran"action Profile

Each partnerF" Signature on )oney laun*ering ircular

Each partnerF" Signature on H> form

,imite* ompany '

ntro*uction @)u"t e y a % ' account hol*er or an employee

of the an7

Photograph"- @:o opie"A

Iali* :ra*e ,icen"e

ompany Seal

Re"olution of the ompany on companyF" letterhea*

ertifie* an* atte"te* copy @atte"te* y )% or hairmanA of)emoran*um of '""ociation an* 'rticle" of '""ociation

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ertifie* an* atte"te* copy of ertificate of incorporation

,i"t of %irector"

Photocopy of vali* pa""portiti=en"hip ertificate or *entity

ertificate from hairman or ar* commi""ionerertificate from the

employee of the an7.

'**5

'nnexure E5 *entification of %irector" an* 'uthori=e* Signatorie"

'nnexure %5 %irectorF" Signature on H> form

:ran"action Profile

3.' (ligi)ility to open an account

'nyone capale of entering into a vali* contract can open an account iththe an7. ' minor can al"o open an account un*er guar*ian"hip or alone if"he i" at lea"t 12 year" ol*. 0ut a minor i" not alloe* to open a currentaccount.

,unatic< n"olvent per"on%run7er,i4ui*ator'ny other in*ivi*ual or

organi=ation y la cannot open an account ith an7.

3.* Accounts Opening of Customers +it" t"e Bank

Opening of an account involve" certain formalitie"< hich varie" accor*ingto *ifferent type" of account" a" ell a" variou" categorie" of cu"tomer". :he

an7 "upplie" folloing printe* form" *uring opening an account of acu"tomer5

o 'ccount opening 9ormo Specimen Signature ar*

o %epo"it Slip

o he4ue 0oo7 Re4ui"ition Slip

o H> Profile 9orm

o :ran"action Profile 9orm

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u"tomer" are re4ue"te* to rea* all the in"truction" carefully an* then fill upthe form" properly. 'ccount opening officer mu"t have to chec7 all the form"or *ocument" i.e. hether the cu"tomer *uly "ign" them here nece""ary. '"ell a" intro*ucer mu"t intro*uce the cu"tomer y putting "ignature in the

"pace provi*e* on the account opening form.3fter completion of all the formalities #y the customer" Prime #ank

officials have to perform the follo*ing functions chronologically:

Scrutini=ing account opening form an* Specimen "ignature car*

/etting the approval of account" y authori=e* officer

Putting entry in the account openingregi"ter

Po"ting all the account information in the computer

""uing a che4ue oo7

)aintaining all relevant paper"*ocument" in"eparate file in the name of the every accounthol*er

Sen*ing the "pecimen "ignature car* to the ca"h*epartment

Sen*ing a than7" giving letter to the Ne accountopenerF" a**re""

)aintaining all relevant paper"*ocument" in"eparate file in the name of the every account

Putting account numer on the form

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hol*er

3., -ssuing of a C"e%ue Book

' che4ue oo7 i" i""ue* to the cu"tomer at the time of the account openingor may y i""ue* after 2-3 *ay" from account opening. 'n* a**itionalche4ue oo7 i" i""ue* at the re4ue"t of the cu"tomer accor*ing to hi"hernece""ity.

9olloing" are the formalitie" *uring i""uing a che4ue oo75

/etting the che4ue oo7 re4ui"ition "lip "igne* y the account hol*er

0y verifying the "ignature< i""uing the che4ue oo7

riting *on the account numer on each leaf of the che4ue oo7

)a7ing entry to the che4ue i""ue regi"ter

Supplying the che4ue oo7 to the account hol*er after getting properac7nole*gement from the account hol*er

Inland Remittance &epartment

Remittance %epartment5 :hi" *epartment *eal" ith tran"fer of money fromone place to another place. Remittance can e cla""ifie* a" inlan* remittance

an* foreign remittanceJ hoever< remittance *epartment mainly *eal" ithinlan* remittance rather than foreign remittance. n"trument" u"e* for inlan*remittance a" un*er5

o Pay Or*er @P.OA

o %eman* %raft @%%A

o :elegraphic :ran"fer @::A

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Pay !rder: ' Pay Or*er i" a ritten or*er on a "pecific in"trument i.e.generally calle* K0loc7L i""ue* y a an7 to pay a certain "um of money to"pecific per"on< Organi=ation or a an7. t i" calle* an7erF" che4ue< a" it i"

i""ue* y a an7 a" ell a" *ran upon on a an7.

Issuance of Pay !rder: i""uance of pay or*er involve" folloing "tep"5

Bpon re4ue"t" of cu"tomer< an7 "upplie" pre"crie* application

form 'pplicant ha" to provi*e *etaile* particular" of himher"elf a"

ell a" eneficiary or receiver of the Pay Or*er :otal amount of the P.O mu"t e ritten oth in or*" an* in

figure" in the "pace provi*e* re*it voucher" are prepare*J one for commi""ion an* another

for I': No cu"tomer i" re4ue"te* to *epo"it the P.O amount along

ith I': an* ommi""ion charge" to the ca"h *epartment a"h *epartment relea"e" the application form ith authori=e*

"ignature an* ca"h receive* "eal

No Pay Or*er i" ritten on loc7 hich ha" three part"5 9ir"tpart i" retaine* y the i""uing an7< Secon* part i" for cu"tomeran* :hir* part i" for the eneficiary of the Pay Or*er

n thi" "tage all the information i" entere* into the P.O regi"ter

Payment or $ncashment of Pay !rder:

""uing an7 ma7e" payment of Pay Or*er upon pre"entation throughclearing hou"e. hen the P.O *oe" not con"i"t of *i"crepancie"< nece""arily

the procee*" of Pay Or*er i" cre*ite* to the account of payeeeneficiary.

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?oever< efore ma7ing payment of P.O< the "ignature of i""uing officer i"verifie* an* *ate of payment i" recor*e* in the Pay Or*er i""ue regi"ter.

&emand &raft

' %eman* %raft< hich in rief i" calle* %%. ' %% i" a ritten or*er on a

"pecific in"trument of one ranch of a an7 upon another ranch of the "amean7 to pay a certain "um of money to or to the or*er of a "pecifie* per"on orof a "pecifie* organi=ation. n practice %% i" not i""ue* eteen to

ranche" ithin the "ame city.

Issuance of &emand &raft: ""uance of %% involve" folloing "tep"5

u"tomer i" a"7e* to fill up a form in "pecific form provi*e* y

an7 hich i" al"o treate* a" a voucher ommi""ion an* harge" are al"o mentione* in the form

:o cre*it voucher"J one for commi""ion an* another for I':

i" "taple* ith the form u"tomer pay" ca"h in the ca"h *epartment ith relevant

voucher" a"h *ept. receive" ca"h an* *eliver" voucher" after completing

nece""ary formalitie" No %% i" prepare* in a loc7

0ranch-i"e "erial numer i" given on the *raft

:he *raft numer i" ritten on the voucher %raft loc7 an* voucher along ith the regi"ter are "ent to the

officer in charge for chec7ing an* then "ent to managerSecon*in charge of the ranch for authori=ation

:he *raft may e cro""e* if cu"tomer *e"ire" an* finally

*elivere* to himher again"t initial or ac7nole*gement on thevoucher

Payment of &emand &raft:

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'fter receiving the %%< the *raer ranch chec7" the *ate< amount oth inor*" an* figure" an* "ignature. n ca"e of :e"t %%< :e"t numer mu"t ereconcile* efore payment. 'n* then %% i" cancelle* an* payment *ate i"

note* in the regi"ter. f the %% i" cro""e*< the payment i" ma*e throughclearing hou"e.

)elegraphic )ransfer

n ca"e of :elegraphic :ran"fer< hich in rief i" calle* ::< an applicant ha"to fill up pre"crie* form "upplie* y an7 to inform all the particular" aoutthe "en*er a" ell a" the receivereneficiary of the ::. 0e"i*e"< folloing

point" "houl* e chec7e* in thi" regar*5

9ull name of the eneficiary an* hi" account numer if the

in"truction here i" Kcre*it to eneficiaryF" accountL< or fulla**re"" if in"truction i" there to a*vi"e pay

ommi""ion an* :elegram charge are recovere* from cu"tomer

' co"t memo ha" to prepare for cu"tomer in thi" regar*J

containing the amount of ::< commi""ion an* :elegram charge"

u"tomer ha" to *epo"it ca"h in the ca"h *epartment along ithvoucher an* application

Remittance *epart finally chec7" all the particular" vi=. name of

the eneficiary< account numer of the eneficiary< name of thean7< name of the ranch an* mo*e of payment etc.

Each an* every :: mu"t e :e"te* hatever the amount of ::

'uthori=e* officer then "en* the :: me""age through

:elex:elephone :he i""uing ranch al"o "en*" a :: confirmation a*vice to the

*raer ranch an* one copy i" retaine* y the ranch

Payment of )elegraphic )ransfer 8))9:

:he payment of :: i" pai* only hen :: te"t numer" reconcile. ::receiving ranch maintain" :: me""age receiving memo. On agreement of:e"t< the "erial numer of :: i" entere* in the :: payale regi"ter. :hei""uing ranch inform" if any numer i" mi"matche* or omitte*. :o

voucher" are prepare* in thi" regar* a" un*er5

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P0, /eneral 'MMM 0ranch----------%r.

0ill" Payale 'MM..@:: payaleA-------------r.

:he :: amount i" then cre*ite* to the eneficiaryF" account if theeneficiaryreceiver of the :: i" an account hol*er of the ranchJ otheri"e aPay Or*er i" i""ue* if the eneficiaryreceiver of :: i" an account hol*er ofanother an7.

7'' Clearing Section:

'ccor*ing to the 'rticle 3+@2A of 0angla*e"h 0an7 Or*er< 1#+2< the an7"early 0u*get of the 0ranch< etc.

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7',-Cash Section :

a"h "ection i" a very "en"itive organ of the ranch an* han*le ith extracare. Operation of thi" "ection egin" at the "tart of the an7ing hour. a"hofficer egin" hi"her tran"action ith ta7ing money from the vault< 7nona" the opening ca"h alance. Iault i" 7ept in a much "ecure* room. Hey" tothe room are 7ept un*er control of ca"h officer an* ranch in charge. :heamount of opening ca"h alance i" entere* into a regi"ter. 'fter hole *ay"Ftran"action< the "urplu" money remain in the ca"h counter i" put ac7 in thevault an* 7non a" the clo"ing alance. )oney i" receive* an* pai* in thi""ection.

7',-', Cash Receipt:

't fir"t the *epo"itor fill" up the %epo"it in Slip. 9or "aving account

an* current account "ame %epo"it in Slip i" u"e* in thi" 0ranch. 'fter filling the re4uire* *epo"it in "lip< *epo"itor *epo"it" the

money.

Officer" at the ca"h counter receive" the money< count it< enter the

amount of money in the regi"ter 7ept at the counter< "eal the *epo"itin "lip an* "ign on it ith *ate an* 7eep the an7"F part of the "lip.Other part i" given to the *epo"itor.

n thi" ranch< i.e.< )oti!heel 0ranch< to *ifferent officer" maintain

to *ifferent oo7" for entering "uch entrie". 'll *epo"it" of "avingaccount are maintaine* y one officer an* other account" y anotherofficer.

't the en* of the *ay entrie" of oth of the"e regi"ter" are cro""

chec7e* ith the regi"ter 7ept at the ca"h counter to "ee hether thetran"action" are correct or not.

7',-'-' Cash Payment:

hen a per"on come" to the an7 to ca"h a che4ue< @"Ahe fir"t give" it to

the computer *e"7 to 7no the po"ition of the chec7 an* po"ting of theche4ue. f the account ha" "ufficient fun* the computer in charge ill

po"t it into the computer< ill "ign it an* "eal it.

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:hi" che4ue i" then "ent to the concerne* officer. :here are to officer"

ho verify the che4ue" one for "aving" an* "imilar type" of accountan* another for current an* "imilar type" of account.

'fter receiving the che4ue re"pective officer fir"t chec7" it very

carefully for any 7in* of frau*ulent activity. @SA ?e al"o chec7" the *ateof the che4ue< amount in or*< amount in figure an* "ignature of the*raer.

f the in"trument i" free of all 7in* of error the officer ill a"7 the earer

to "ign on the ac7 of it.

?e ill then put hi"her initial e"i*e the earer"F "ignature. @SAhe ill

al"o "ign it on it" face< ill rite *on the amount y re* pen.

:hen the che4ue ill e "ent to the ca"h counter. 't the ca"h counter

earer ill e a"7e* again to "ign on the ac7 of the in"trument.

:he ca"h officer ill then enter the *etail" of the che4ue in hi"herregi"ter an* ill pay the money to the earer.

't the en* of the *ay the"e regi"ter" ill e compare* to en"ure the

correctne"" of the entrie".

7',7 Conclusion:

0an7 i" the large"t organi=ation of moili=ing "urplu" *ome"tic "aving".

'ttractive Saving" Scheme" are offere* y P0, "uch a" ontriutorySaving" Scheme< )onthly 0enefit %epo"it Scheme< Special %epo"itScheme< E*ucation Saving" Scheme< 9ixe* %epo"it Scheme< Prime 0an7)oney Scheme< Prime 0an7 n"ure* 9ixe* %epo"it Scheme a" ell a"*ifferent account" to "ave money. Scheme" are *e"igne* concentrating in*ifferent purpo"e" to help the fixe* income group people to help in nee*.0an7-Official" are al"o hole-hearte* an* *e*icate* to "erve their cu"tomerith utmo"t care.

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1' , !nline Branch Banking

:he 0an7 ha" "et up a i*e 'rea Netor7 @'NA acro"" the countryto provi*e online ranch an7ing facility to it" value* client". Bn*er theScheme< client" of any ranch "hall e ale to *o an7ing tran"action at other

ranche" of the an7.

Bn*er thi" "y"tem a client ill to e ale to *o folloing type of tran"action"

Q a"h ith*raal from hi"her account at any ranch of the 0an7irre"pective of location.Q a"h *epo"it in hi"her account at any ranch of the 0an7 irre"pective oflocation.Q a"h *epo"it in other" account at any ranch of the 0an7 irre"pective oflocation.Q :ran"fer of money from hi"her account ith any ranch of the 0an7.

'ny amount can e *epo"ite* or tran"ferre* un*er Prime ,ine. n the "y"tem

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Prime Bank Ltd