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Faculty of Business Administration
American International University-Bangladesh
(AIUB)
INTERNSHIP AFFILIATION REPORT ON
“General Banking System of Uttara Bank Limited, Mirpur Branch”
An Internship Report Presented to the Faculty of Business Administration in
Partial Fulfillment of the Requirement for the Degree of
Bachelor of Business Administration (BBA)
Supervised By
Barrister Shahariar Rakib Hasan Khan
Faculty, FBA, AIUB
Submitted By
Ahmed, Tanvir
ID: 10-17604-3
Department of Accountig And Finance
Date of Submission: 08/12/2014
Page 1 of 46
Internship Affiliation Report On
General Banking System of Uttara Bank Limited,
Mirpur Branch
Page 2 of 46
Letter of Endorsement
The Internship Affiliation report entitled General Banking System Of Uttara Bank Limited
has been submitted to the Office of Placement & Alumni, in Partial Fulfillment of the
Requirement for the Degree of Bachelor of Business Administration (BBA), Major in
Accounting & Finance, Faculty of Business Administration on 08.12.2014. By Ahmed,
Tanvir ID# 10-17604-3. The Report has been accepted and may be presented to the
Internship Defense committee for evaluation.
(Any opinions, Suggestions made in this report are entirely that of the author of the report.
The university does not condone nor reject any of these opinions or suggestions).
_____________________________________________
Barrister Shahariar Rakib Hasan Khan
Faculty, FBA, AIUB
Intern Supervisor
Page 3 of 46
Letter of Transmittal
December 08, 2014
Mr. Roomee Tareque Moudud
Director, Office of Placement & Alumni
American International University-Bangladesh (AIUB)
Subject: Submission of Internship Report.
Dear Sir,
It is a great pleasure that you have given me an opportunity to submit the report on “General
Banking System Of Uttara Bank Limited” which was assigned by Internship and Placement
Office as a partial requirement of the Internship Program a prerequisite for the completion of
the BBA Course.
Uttara Bank Limited is operating their banking operations effectively and efficiently and
providing services with a view to acceleration socio-economic development of the country.
Adoption of modern technology both in terms of equipment and terms of non banking
practice ensures efficient service to clients. Day by day new competitors appears with better
ideas and products as well as services.
I have tried at my best to avoid my deficiencies and hope that my report will satisfy you and I
also would like to thank you again for giving me the opportunity to submit this report.
Best Regards
Ahmed, TanvirID# 10-17604-3
Page 4 of 46
ACKNOWLEDGEMENT
First of all, I wish to express my gratitude to the almighty ALLAH for giving me the strength
to perform my responsibilities as an intern and complete the report within the stipulated time.
I am deeply indebted to my Faculty Supervisor Barrister Shahariar Rakib Hasan Khan for
whole-hearted supervision during my organizational attachment period. I am also grateful to
Mr. Noman Mahmud, Senior Officer and my organizational supervisor and my colleague
who helped me by providing informative instructions. I was closely attached with them
during my internship tenure. Without them this project would have been very difficult. I must
mention the wonderful working environment and group commitment of this organization that
has enabled me to deal with a lot of things.
And finally I express my sincere gratitude to all those participated to prepare the report. Most
of them were busy employees of Uttara Bank Limited.
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Executive summary
Uttara Bank Limited (UBL) is a private owned bank. UBL is a first generation Commercial
bank operating since 28 January 1965 based on provides all kinds of commercial banking
services to its customers Principles. Consequent upon the amendment of Bangladesh Bank
(Nationalization) Order 1972, the Uttara Bank was converted into Uttara Bank Limited as a
public Limited company in the year 1983. The converted Uttara Bank Limited was
incorporated as a banking company on 29.06.1983 and obtained business commencement
certificate on 21.08.1983. The Bank floated its shares in the year 1984. The Bank is listed in
the Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited as a publicly
quoted company for trading of its shares. Now UBL has 220 branches at home and 600
affiliates worldwide create efficient networking and reach capability. Uttara is a bank that
serves both clients and country.
This report will cover General Banking System of Uttara Bank Limited (UBL). General
Banking is a very vital thing for each and every bank. UBL maintained and achieved strong
position in all key areas of operations. UBL provides both customer and business banking
services. Beyond own banking activities it has some agency service for the organization or
interest. In customer banking UBL collects deposits from the group of people or
organizations who have surplus amount of money and the give a percentage of interest for
those deposits. On the other hand, they provides loans or credits to the group of people or
organizations those need it and bank charge a higher rate of interest rather than the interest
on deposits.
Uttara Bank Limited offers different types of deposits for the different income group and
professions in our society and fixed deposits and so on. They offer attractive interest for those
types of deposits.
The focus of International Division with its expertise caters mainly to the Banking needs
related to import and export affairs. The department establishes correspondent relationships
with the foreign banks in consultation with the respective senior management.
Page 6 of 46
Chapter: 02 Job Descriptions
TABLE OF CONTENTS
Letter of Endorsement ………..03
Letter of Transmittal………….04
Acknowledgement……………05
Executive Summary………......06
Chapter: 01The Organization
1.1indroduction………………………………………………….11
1.2 Rational of the Report/Origin of the report……………..…...11
1.3 Historical Background of UBL…………………….….…….12
1.4 Objectives of UBL ……………………...………………..….12
1.5 Products & Services of Uttara Bank Ltd.……………………13
1.6 Vision of UBL………………….……………………………15
1.7 Mission of UBL……………………...…………………....…16
1.8 The Organogram of UBL………………………..………......17
1.9 Different departments of UBL ………….………….……..…18
1.10 Objective Behind Doing This Report……………….….......18
2.1 Internship at UBL………………………………….………..20
2.2 Description of my job at UBL……………………….…...…20
2.2.1 Account Open……………………………….…......…..20
2.2.2 Cheque Requisition..……………………………...…....21
Page 7 of 46
Chapter: 03 Advance Working Report
2.2.3 Cheque Delivery………………………..………..………21
2.2.4 Cheque Issue……………………………………..………21
2.2.5 Client Account Statement………………….……….……21
2.2.6 Scanning of Different Documents………………..…...…21
2.2.7 Client Data entry or Edit…………………………...……22
3.1 Definition of General Banking………………….…………...…24
3.2 Functions of General Banking………………………………….24
3.3 Different part of General Banking………….…………….…....24
3.4 General Features of General Banking……..……………...........25
3.5 Account Opening……………………………………………....25
3.5.1 Types of Account …………………………………...........26
3.5.2 Key Features of Opening an in UBL…………….…….....26
3.5.3 Nature of Accounts (Owner Status)………………...........27
3.5.4 General Procedure of Opening Account.….…………........28 3.5.5 Documentation………………… …..………………........30. 3.5.6 Transfer of Account to other Branch………..…..…….......31 3.5.7 Closing of an Account…………………………………......32
3.6 Checks………………………….…………………………........32
3.6.1 Issue of a Check Book ………………………..…….…..…32
3.7 Remittance………………………………………………….......333.8 Cash Section …………………………………….......................363.9 Clearing…………………………………………………………36
3.10 Sorting & Stitching…………………………………………....37
3.11 Outward Bills for collection (OBC)……..…………….…...…37
3.12 Inward Bills for collection (IBC) ………………………….….38
Page 8 of 46
Chapter: 04 Findings of the Study
4.1 Findings of the Study…………………………………….………….40
Chapter: 05 Lesson Learn From the Internship Report
5.1 Summary Of Lessons Learned……………………….……………..43
5.2 Culture…………………………………….…………………..…......43
5.3 Working Environment…………………………….………………....43
5.4 Communication……………………………………………………....44
5.5 Time Management……………………………………………...........44
5.6 Networking……………………………………………………….….44
5.7 Customer Service………………………………………...……..….…45
Chapter: 06 Concluding Statement
6.1 Conclusion………………………………………………………..…47
6.2 Recommendation…………………………………………...……....47
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Chapter 01
The
Organization
Page 10 of 46
1.1 Introduction:Uttara Bank Limited (The Bank) had been a nationalized bank in the name of Uttara Bank
under the Bangladesh Bank (Nationalization) order 1972, formerly known as the Eastern
Banking Corporation Limited. The Bank started functioning on and from 28.01.1965.
Consequent upon the amendment of Bangladesh Bank (Nationalization) Order 1972, the
Uttara Bank was converted into Uttara Bank Limited as a public Limited company in the year
1983. The converted Uttara Bank Limited was incorporated as a banking company on
29.06.1983 and obtained business commencement certificate on 21.08.1983. The Bank
floated its shares in the year 1984. The principal activities of the Bank are to provide all kinds
of commercial banking services to its customers through its branches in Bangladesh. The
Bank is listed in the Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited
as a publicly quoted company for trading of its shares. The Registered Office of the Bank is
located at 47, Shahid Bir Uttam Ashfaqus Samad Sarak (Former 90, Motijheel Commercial
Area) Dhaka- 1000. It has 220 branches all over Bangladesh through which it carries out all
its banking activities.
1.2 Rationale of the Report/Origin of the report: Internship Program of American International University - Bangladesh is a graduation
requirement for the BBA students. It is a 12 weeks long internship program to introduce the
students with the real life business administration. I took the internship with Uttara Bank
Limited which stands a prominent name in banking industry. I am proud to work as an
internee with UBL and this experience will surely help me in my future career. This advance
working report has been prepared as a part of the Internship Program. Being an intern the
main challenge was to translate the theoretical concepts into real life experience.
The internship program and the study have following purposes:
To get and organize detail knowledge on the job responsibility.
To experience the real business world.
To compare the real scenario with the lessons learned at AIUB
To fulfill the requirement of BBA Program.
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1.3 Background of UBL: UBL is one of the largest private banks in Bangladesh. It operates through 220 fully
computerized branches ensuring best possible and fastest services to its valued clients. The
bank has more than 600 foreign correspondents worldwide. Total number of employees
nearly 3,562. The Board of Directors consists of 15 members. The bank is headed by the
Managing Director who is the Chief Executive Officer. The Head Office is located at Bank’s
own 18-storied building at Motijheel, the commercial center of the capital, Dhaka. In-spite of
being one of the pioneers of computerized banking system, Uttara Bank Limited has to wait a
long time for the introduction of core banking system. Recently the Bank has introduced Core
Banking Solution Software for its 220 branches countrywide. The bank has added Real Time
Online facility to its core structure and serving its valued customer more efficiently and
timely manner. With more technologically sound and highly efficient manpower, its
dedication to serve the nation has reached its zenith. The Bank is now planning to introduce
SMS and Internet Based Banking (as per rules and regulations of Bangladesh Bank) for its
valued client, So that they can access their account remotely from virtually anywhere (home,
office, playground or club).
1.4 Objectives of UBL: The objectives of UBL are as follows:
Mobilize deposit from the surplus economic unit to deficit economic
unit.
Cater to all different segments of retail and wholesale customer.
Be a high quality distributor of products and services.
Serve the people of the country by providing financial assistance.
Help the nation in reducing the employment problem by securing
services to a large number of people.
Ensure balanced economic development throughout the country
1.5 Products & Services of Uttara Bank Ltd:Corporate Banking: UTTARA Bank is offering specialist advices and products to corporate clients to meet
diverse demands of the changing market scenario. The bank has an extensive branch network
all over the country to expedite the client’s business growth. The bank facilitates the clients to
face the challenges and realize opportunities. The bank’s main focus is relationship based
Page 12 of 46
banking and understanding corporate and institutional business environments. Products and
services for corporate clients include: Working Capital Finance, Project Finance, Term
Finance, Trade Finance, Lease Finance, Syndication Loan etc.
Retail Banking:Retail Banking is mass-banking facility for individual customers to avail banking services
directly from the wide branch network all over the country. The bank provides one-stop
financial services to all individual customers through its innovative products & services to
cater their need. With a view to provide faster and more convenient centralized online
banking services, now, all its branches have been brought under the real time online banking
system.
UTTARA Bank offers a wide variety of deposit products, loan product & value added
services to suit the customer’s banking requirements. Products and services for individual
customer include: Consumer Finance, Deposit Product, Card, NRB Account, Student File,
SMS Banking etc.
SME Banking:The growth of Small and Medium enterprises (SMEs) in terms of size and number has
multiple effects on the national economy, especially on employment generation, GDP
growth, and poverty alleviation in Bangladesh. At present, Small & Medium Enterprise
sector is playing a vital role in creation of new generation entrepreneurs and 'Entrepreneurs
Culture' in the country. Experience shows that borrowers of small enterprise sector prefers
collateral free loan since normally they cannot offer high value security to cover the
exposure.
To facilitate SME sector of the country, UTTARA BANK provides collateral free credit
facilities to the small & medium entrepreneurs across the country whose access to traditional
credit facilities are very limited. The bank is offering 15 different products for selected target
groups, such as - Easy Commercial Loan, Retailers Loan, Muldhan Loan, Women
Entrepreneur’s Loan (Protyasha), Transport Loan, Working Capital Loan, Project Loan, letter
Of Contractor's Loan, Bidder's Loan, Working Capital Loan, Project Loan, Letter of
Guarantee, Letter of Credit Loan against Imported Merchandize (LIM), Loan against Trust
Receipt etc.
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Agricultural Credit:Bangladesh is an agro-based country and majority of the population is dependent on
Agriculture. Although maximum of the total population is dependent on agriculture, its
contribution to GDP has gradually come down. Moreover, every year a huge amount of food
grain and other agricultural products are imported to meet the demand of the country. In order
to achieve desired growth in agriculture sector of the country the bank is committed to
increase present loan portfolio in agricultural sector. UTTARA Bank is offering Agriculture
Loan products namely –
i) Krishi Saronjam Rin - for Agriculture Equipments
ii) Shech Saronjam Rin - for irrigation equipments
iii) Poshupokkhi & Motsho Khamar Rin - for Live Stock & Fish Culture &
iv) Phalphasali Rin - for Fruit Orchard for individuals & group at micro level.
Lease Finance:Lease means a contractual relationship between the owner of the asset and its user for a
specified period against mutually agreed upon rent. The owner i.e. the Bank is called the
Lessor and the user i.e. the customer is called the Lessee. Lease finance is one of the most
convenient source of financing of assets viz. machinery, equipment vehicle, etc.
UTTARA BANK, the highly capitalized private Commercial Bank in Bangladesh has
introduced lease finance to facilitate funding requirement of valued customers and growth of
their business houses. Its lease facility is extended to the items like Industrial Machinery,
Luxury bus, Minibus, Taxi cabs.
Lease items: Vehicles like Luxury Bus, Mini bus, Taxi Cabs, Cars, Pick-up, CNG three wheeler,
etc.
Industrial Machinery & Equipment.
Medical Equipment.
Machinery for Agro–based Industry.
Construction Equipment.
Office Equipment.
Generators, Lifts & Elevators for commercial place.
Sea or River Transport.
Computer for IT Education Center.
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Treasury & Capital Market:
UTTARA BANK Bank Limited is devoted to capital Market of the country and offers world
standard brokerage services for individual and institutional investors. The Bank is responsible
for origination of sales, buy and trading of securities of Capital markets. It aims to provide
relevant support to its customer with sophisticated and innovative financial solutions and
delivering the highest quality of services. It has a seat in Dhaka Stock Exchange Limited.
The Treasury Division of UTTARA BANK is engaged with Cash Management, Liquidity
Planning and Liquidity Protection. It is also conscious to protect all the bank’s Assets and
Profits against loss due to domestic as well as global financial realities, particularly Interest
and Exchange Rate fluctuations. The Treasury Department is also regarded as a Profit Center,
which generates income by trading instruments in the Financial Market.
To manage treasury unit as profit center, along with guidance from regulatory authorities, the
bank equipped itself with clear policies, fit organization structure, deployment of trained
staff, modern infrastructural facilities and technological initiatives.
1.6 Vision of UBL:
To be the best private commercial bank in Bangladesh in terms of efficiency, assets
competence, asset quality, sound management and profitability having strong
liquidity.
Uttara Bank will be unique organization in Bangladesh. It will be a knowledge-based
organization where the Uttara Bank professionals will learn continuously from their
customers and colleagues worldwide to add value. They will work as a team, stretch
themselves, innovate and break barriers to serve customers and create customer loyalty
through a value chain of responsive and professional service delivery. Uttara Bank Ltd. will
serve its customers with respect and will work very hard to inspire a strong customer service
culture throughout the bank. It will treat its employees with dignity and will build a company
of highly qualified professionals who have integrity and believe in the Bank’s vision and who
are committed to its success.
Page 15 of 46
1.7 Mission of UBL:
The bank has some mission to achieve the organizational goals. Some of them are as follows:-
•The bank looks forward with excitement and a commitment to bring greater benefits to customers.
• Uttara Bank Limited provides high quality financial services to strengthen the well-being and success of individual, industries and business communities.
•Its aim to ensure their competitive advantages by upgrading banking technology and information system.
•UBL intends to play more important role in t2he economic development of Bangladesh and its financial relations with the west of the world by interlinking both modernistic and international operations.
•The Bank has remained dynamic in its continued efforts to improve & increase core competence & service efficiency by constantly upgrading product quality, service standards, protocol and their effective participation making use of state of the art technology.
•The bank creates wealth for the shareholders.
Page 16 of 46
Senior Executive Vice-President
Executive Vice-President
Senior Vice-President
First Vice-President
Senior Staff Officer (SSO)
Staff Officer (SO)
Officer Grade-I
Officer Grade-II
Probationary Officer
Vice-President
Senior Asstt. Vice-President
Asstt. Vice-President
First Asstt. Vice-President
Assistant Officer
Officer Assistant
Driver
Officer Attendant
Security Staff
1.8 The Organogram of UBL:
Page 17 of 46
1.9 Different departments of UBL:
In recent times management has brought a change in the organizational structure in view of need of time. There are few departments. The departments are: Human Resources Division
Personal banking Division
Treasury Division
Computer and Information Technology Division
Credit Division
Operation Division
Card Division
Finance & Accounts Division
Audit & Risk Management Division
Risk Management Unit
1.10 Objective behind doing this Report:
The General objectives of the report are:
To fulfill the partial requirement of the inter program as a full credit subject of the BBA program
To know about the banking sector of Bangladesh
The Specific objectives of the report are as follows:
To get an overall idea about the General Banking System of UBL
Page 18 of 46
Chapter 02Job
Description
Page 19 of 46
2.1 Internship at UBL:
Internship is offered for 12 weeks and since 16th of September, 2014. I have been working in
Uttara Bank Limited and deal with lots of issues. My association with this bank is being a
part of the General Banking Section (GB). Particularly being a student of Accounting and
Finance it is necessary for me to get practical knowledge of General Banking (GB). So, I
have tried my level best to learn a lot about General Banking (GB). The nature of work was
quite basic as an internee; nevertheless I got to see what practical life is. Below, the duties I
have performed are given.
Account open
Cheque requisition
Cheque delivery
Cheque issue
Client account statement
Scanning of different documents
Client data entry or edit
2.2 Description of my job at UBL: 2.2.1 Account Open: People need bank account for different purpose. Generally there are four (4) types of account. 1. Savings Account
2. Current Account
3. Fixed Deposit
4. DPS- Deposit Pension SchemeSome people need personal account, some people need business account. Each and every account has different purpose.
2.2.2 Cheque Requisition: Savings and current account holders need cheque book. Because those account holders
deposit and withdraw their money frequently. Without cheque book they cannot withdraw
their money. So practically those account holders need cheque book for their transaction, for
business and personal purpose. When they open their account there is a separate form for
cheque book requisition. Account holders need to fill out those forms for their account
activation. Through banking software I give entry cheque requisition.
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2.2.3 Cheque Delivery: After giving cheque requisition customers need to wait for their cheque book. After cheque
requisition normally it takes couple of working days to delivery cheque book to respective
customers. After that customers need to collect their cheque book from our branch.
2.2.4 Cheque Issue: When customers come to our premises for collecting their cheque book, they need to sign it
in a register book. After that I issued their cheque book and give it to them. After issuing
cheque book they can use their cheque book at any time when they wish. But it has to be in
between transaction hour, which is 9am to 4pm.
2.2.5 Client Account Statement: Some customers ask for their bank account statement. According to their demand I gave bank
account statement to our customers. We didn’t apply any charge for bank account statement.
2.2.6 Scanning of Different Documents: When I open an account, I need to collect different documents from customers. Ex- National
ID Card, Passport, driving Licence, Commissioner Certificate etc. So I need to scan those
documents for banking purpose. After scanning those documents I print it and return the
original copy to the customers.
2.2.7 Client Data Entry or Edit: In the account opening form customers write the details according to what is asking for. After
filling the form I need to cheque it. After that I need to entry those data in computer through
banking software. In the banking software there are minimum two (2) pages that I need to fill
out. In this software I can also edit the data if required.
Page 21 of 46
Chapter 03
Advance working
report on
General Banking
System of UBLPage 22 of 46
3.1 Definition of General Banking:
Financial institution/ intermediary that mediates or stands between ultimate borrowers and
ultimate lenders is knows as banking financial institution. Banks perform this function in two
ways- taking deposits from various areas in different forms and lending that accumulated
amount of money to the potential investors in other different forms.General Banking is the
starting point of all the banking operating. General Banking department aids in taking
deposits and simultaneously provides some ancillaries services. It provides those customers
who come frequently and those customers who come one time in banking for enjoying
ancillary services. In some general banking activities, there is no relation between banker and
customers who will take only one service form the bank. On the other hand, there are some
customers with who bank are doing its business frequently. It is the department, which
provides day-to-day services to the customers. Every day it receives deposits from the
customers and meets their demand for cash by honoring cheques. It opens new accounts,
demit funds, issue bank drafts and pay orders etc. since bank in confined to provide the
service everyday general banking is also known as retail banking.
3.2 Functions of General Banking:
The functions of general banking are as follows:
Establishment of banker-customer relationship.
Remitting customer’s money from one place to another.
Collecting bills for customers.
Taking deposits and honoring cheques drawn over local office.
3.3 Different part of General Banking: General Banking department constitutes of the following sections:
Account Opening Section
Cash and Computer Section
Remittance Section
Bills Section
Clearing Section
FDR & BCD section
Page 23 of 46
3.4 General features of General Banking:
Issuance of token, Maintenance of subsidiary day Book, writing of day Book, balancing of
Ledger.
Opening of A/C like –
Savings A/C, Current A/C, Short Term Deposit A/C, writing of A/C opening registers and
issuance of pass book and cheque Book etc. Maintenance of current A/C ledgers, deposit
ledger and FDR ledger and operation. Writing of transfer scroll, statement of current A/C and
deposit A/C.
Bills: Outward & inward Bills (OBC & IBC) and clearing.
Remittance: Issuance and payment of DD, TT, PO etc.
Writing of clean cash Book and posting of General Ledger.
Maintenance of charges, suspense and sundry deposit A/C, maintenance of dead stock and
stationery articles registers.
Schedule Telegram and preparation of General ledger A/C statement.
The function of the different department is discussed below:
3.5: Account Opening:
Banking business is very much correlated with banker customer relationship. To be a
customer one person must have some sort of banking relationship with the bank. Account
opening section establishes that relationship by opening a new account for the customer.
Uttara Bank Ltd. allows its clients to open the following types of accounts and receives
deposits in those accounts.
3.5.1 Types of Accounts:
1. Current Deposit
2. Savings Bank Deposit
Page 24 of 46
3. Fixed Deposit
4. Special Notice Deposit
5. Double Benefit Deposit Scheme
6. Monthly Deposit Scheme
3.5.2 Key Features of Opening an Account in UBL:1. Current Deposit Account: Current deposit accounts should be opened with a
minimum amount of Tk.1000/=. But under special circumstances it may be opened
with Tk.500/=. It is payable on demand. No interest is paid in these types of accounts.
2. Savings Bank Deposit Account: Minimum amount of Tk.500/= is required for opening this type of account. The account may not be retained if the balance falls below-Tk.200/=. Not more than one account should be opened in one name. A depositor is allowed to withdraw per week up to 25% of the balance of his or her account. For calculation of interest the minimum balance at the credit of an account by the close of 8th of the month should be taken into consideration.
3. Fixed Deposit Account: Fixed deposit accounts are opened for a fixed period,
varying from three months to three years or above and are payable at a fixed date of maturity.
Interest on this deposit is paid at the rate fixed by Head Office of the bank from time to time
depending on the period of maturity. Interest is payable only at the maturity of the deposit.
The following table shows different FDR rates:
Periods FDR Rate
3 months & above but less than 6 months 10.00%
6 months & above but less than 1 year 10.50%
1 year & above but less than 2 years 10.75%
2 years & above but not more than 3 years 11.00%
4. Special Notice Deposit:
Govt., Semi-Govt., Autonomous organization and an individual may open SND
Account with UBL.
7 days notice required to withdraw.
Deposit AmountBelow 1 Equal and Equal and Equal and Equal and
Page 25 of 46
croreabove 1 crore and below 25 crore
above 25 crore and below 50 crore
above 50 crore and below 100 crore
above 100 crore
Annual Interest Rate
3.25% 3.30% 3.40% 3.50% 3.60%
5. Double Benefit Deposit Scheme:
a) Any adult Bangladeshi National will be eligible to open this account.
b) Minimum Tk.1,00,000/- (Taka One Lac only) and multiples thereof will be accepted
as deposit under this scheme.
c) The period shall be of 8.5 (Eight years Six months) year’s term.
3.5.3 Nature of Accounts (Ownership Status):
UBL may open following types of accounts:
1. Individual Accounts
2. Joint Accounts
3. Proprietorship Firm Accounts
4. Partnership Concerns Accounts
5. Private Limited Companies Accounts
6. Public Limited Companies Accounts
7. Accounts of Societies, Clubs, Association etc
8. Trust Accounts
3.5.4 General Procedure of Opening Accounts:Current Deposit Account:
The account opening form of current deposit account and specimen signature
card is supplied to the customers, which is filled and signed by them.
In case of individual account, an account holder signs the AOF and SSC in
his/her individual capacity both under “Yours Faithfully” and “Specimen
Signature”. In case of partnership firms & Proprietary concerns, it is to be
signed by the persons/partners in their individual capacity under “Yours
Page 26 of 46
Faithfully” and in their official capacity under “Specimen Signature”. In other
cases (Private and public limited company) both the signatures must be in
official capacity.
A CD account holder of the bank shall introduce the new account holder. Elite
of the locality, who is well known to the banker, can introduce it. Official
other than the staff of UBL can also introduce it.
Clear instructions with regard to operations are noted in the AOF and SSC.
Especially in case of death or inability of any kind in regards of the joint
account holder.
The officer in charge of the Deposit department verifies the signature of the
introducer. The stamp “Signature Verified” is affixed near the signature of the
introducer and the deposit officer signs over it.
Approval of the branch in-charge is obtained on the “Account Opening Form”.
The signature of the account holder is admitted by the in charge of deposit
Department and “Signature Admitted” stamp is affixed near the specimen
signature of the account holder.
Particulars of the account opening form are entered in the “Account Opened &
Closed Register” in a serial order.
The account number allotted to the new account is given on the AOF, SSC and
on Cheque book requisition slip.
The customer is supplied with a “Pay-in-Slip Book and requested to deposit
the money with cash officer.
Cheque is only issued after the account opening form has been completed in
all respects and initial cash deposit has been made. The Cheque Book series is
noted in the Cheque requisition slip.
Particulars of the account opening form are entered in the “Referance Book”
under alphabetical order.
The officer in-charge gives initials in the account opening register and in the
reference book. AOF, SSC and Cheque book requisition slip are sent to the
record keeper of account opening.
Account opening forms are posted in a file in serial order. On the other hand,
the specimen signature cards are placed in the “Specimen Signature card Box”
in numerical order.
Page 27 of 46
Lastly, while issuing new cheque book, signature on the new cheque book
requisition forms should be properly verified.
Savings Bank Deposit Account:
The procedures of opening current deposit accounts are also applicable for opening the
savings bank deposit accounts. There are only the following exceptions:
Use of separate “Account Opened & Closed Register”. Also reference book
and posting files are different here.
Pay-in-Slip Book
Fixed Deposit Accounts:
Account opening form and specimen signature card should be given to the
customer. Voucher no. SF-12, crediting “Fixed Deposit Account” with the
amount of deposit with full narration (Like the name of the party, period of
deposit, rate of interest etc) should be prepared and should be given to the
depositor to deposit cash with the cash officer after recording the
Particulars. In case of payment by cheque, it should be attached with the credit
voucher and sent to the deposit department for posting.
On receipt of the vouchers from the cash department, a fixed deposit receipt
should be prepared and recorded.
To admit the signature of the account holder the stamp “Signature Admitted”
should be affixed near the specimen signature card.
The AOF, SSC, the voucher and the recording ledger should be sent to the
officer in charge for signature.
Then the documents should be sent to the manager/authorized official for
his/her signature on those.
The branch manager should ensure that the printed number on the deposit
receipt forms and in deposit receipt books in use are invariably noted.
At the closing of each business day, the officer in charge should verify the
total amount for which the deposit receipt has been used during the day, both
from the credit vouchers and the counter foils of the various deposit receipts.
Page 28 of 46
3.5.5 Documentation:Current Deposit Account:
The following documents duly completed should be obtained from the customer at the time
of opening a current deposit account of:
1. Individual/Joint
2. Partnership Firms
3. Proprietorship Concerns
4. Societies, Clubs, Associations
The documents are:
Account opening form
Specimen signature card
Mandate for opening an individual/proprietorship account is obtained
where a customer wants to authorize another person to operate the
account.
Certified true copies of by laws in case of societies, clubs, associations
and limited companies etc.
Certified copies of resolution authorizing and operating of account
with the bank passed by the Executive committee of the society, club
or association and limited companies etc.
List of members of the executive committee, list of directors.
Partnership deed or in lieu thereof partnership letters in case of
Partnership firms.
For limited companies, corporations, autonomous bodies the following documents should be
collected.
Account opening form
Specimen signature card
Memorandum of Articles of Association
Resolution of the Board of Directors authorizing opening the
account with the bank.
Certificate of Incorporation
Certificate of Commencement of Business
Page 29 of 46
List of Directors
Act/Ordinance etc. in case of corporations/Autonomous Bodies
Savings Bank Account:
Account opening form
Specimen signature card
Mandate should be obtained in case the customer wants to
authorize another person to operate the account
Fixed Deposit Account:
Account opening form
Specimen signature card
Short Term Deposit Account:
Form, which is used for CD account, can also be used for opening this type of account.
Notice period should be noted in the special instruction column.
3.5.6 Transfer of Account to Other Branch:
An account holder can request to transfer his/her account by giving the following
instructions:
1) Reasons for transferring the account.
2) Address at which he/she is to be contacted by the transferee branch.
3) The unutilized check book must be returned to the transferring branch before
transfer of account.
At first, the approval should be verified by the manager to transfer the account. Then the
specimen of the forwarding letter of transferee branch should be sent. After the application is
received duly approved from the manager, the branch transfers the account.
3.5.7 Closing of an Account:
To close an account, one may be requested to send an application along with the unused
pages of the check book that is issued to the person. After receiving the application, the
signature of the account holder should be verified and the number of unused pages of the
check book should be noted. Before the account is closed the manager will approve the
application. Lastly closing charge should be debited to the account.
Page 30 of 46
3.6 Checks:
A check is a very important document. Cheque is an instrument in printed form containing an
unconditional order, signed by the account holder directing a certain person to pay certain
amount of money only to or to the order of a certain person or to the barer of the instrument.
A check is always supposed to be drawn against the funds in the person’s account in the
bank.
3.6.1 Issue of a Check Book:
At the time of opening an account, a person is required to sign a “Cheque Book Requisition
Slip”. If the account opening form is found complete in all respects, a check book is issued to
the client. The account number is written in each leaf of the Cheque Book and in its
requisition slip. The name and account number of the client is also entered in the
Departmental Cheque Books Issued Register (DCBIR) against the particular Check book
series and it is also recorded in the computer. Lastly, the requisition slip is preserved as
Voucher.
3.7 Remittance:
There are some frequent situations, such as customer of a bank needs to transfer his/her fund
or money to somewhere within the country boundary. It is really a risky thing to carry a big
amount of money from one place to another. So most of the time they just purchase an
instrument or mean, so that their fund can be transferred through his/her own bank. This sort
of activities is cubed under the Inland Remittance. These are
Demand Draft (D.D.)
Telegraphic Transfer (T.T.)
Pay Order (P.O.)
3.8 Cash Section:Cash is one of the most important sections of general banking department. Because it deals
cash.
Page 31 of 46
Functions:
Receiving cash
Paying Cash
Issuing Vouchers
Keeping records
3.9 Clearing:When a customer of UBL presents an instrument drawn on other bank for collection, the
instrument is collected through clearing house of Bangladesh Bank. Every day two houses are
arranged in Bangladesh Bank. One in the evening and another in the morning. The evening
house is known as return house. Every day the instruments that are drawn goes to the officer
of the clearing section. He/she enters bank name, branch name, number and the amount
through a software named “Nikash22” in the main schedule of banks. Then the officer makes
a copy of it and goes to the clearing house of Bangladesh Bank. Bangladesh Bank officials
take the copy. Then they set off the claims of UBL on other banks.
3.10 Sorting & Stitching:
Sorting:
At the end of the day, the amount of cash has to be sorted out in order to identify the different
type notes like – 1000, 500, 100, 50, 20, 10, 5, 2, 1 and so on. Hundred pieces of any type of
note create a bundle and ten bundles make a ring. In this way cash is actually sorted out.
Stitching:
After sorting out the cash, bundles are stitched along with a slip bearing the name of the
bank, total number of notes and the signature of the Cash-In-Charge. Two round seals are
given at the both sides of the bundles.
3.11 Outward Bills for Collection (OBC):
Customers deposit cheque, draft etc for collection attaching with their deposit receipt.
Instrument within the range of clearing are collected through local clearing house but the
other which are outside the clearing range are collected through OBC mechanism. A
customer of UBL principal branch local office Dhaka is depositing a check of Sonali Bank
Page 32 of 46
Cox’s-Bazaar. New as a collecting bank UBL principal branch will perform the following
tasks.
Received seal on deposit slip.
SJIBL local office principal branch crossing indicating them as collecting bank.
Endorsement give payees A/C will be credited on realization.
Entry on register from where a controlling number is given.
Collecting bank can collect it either by its branches of by the drawer’s bank they will forward
the bill then to that articulate branch. OBC number will be given on the forwarding letter.
3.12 Inward Bills for Collection (IBC):
In this case bank will work as an agent of the collection bank branch receives a forwarding letter and the bill. Next steps are:
Entry in the IBC register, IBC number given.
Endorsement given- “our branch endorsement confirmed”.
The instrument is sent to clearing for collection.
Miscellaneous creditor A/C.
Page 33 of 46
Chapter 04
Findings
Of The
StudyPage 34 of 46
4.1 Findings of the Study
After the completion of the report it is assumed that the report writer get some
finding regarding few points from his report. As like from above report
following findings are found:
The main limitation of this report is Bank’s policy of not disclosing some data and
information for confidential reason, which could be very much useful for the report. If
I know the actual gap then I can be a threat for them.
Time period of twelve weeks was too limited to get practical experience. Actually it is
a work of practical. I didn’t get enough time to learn their lessons. And it is not
enough to evaluate them in a short term period.
As an intern of I have to work in different departments of the branch & during the
twelve week period of internship I worked in clearing department only for 1 week.
That is the problem of it. How could I know perfectly if I worked in that sector for 1
week? That’s problem of intern student.
Because of the limitation of information, some assumptions were made. So there may
be some unintentional mistake in the report. I didn’t get enough information from
them. Basically they are very busy with their work so they didn’t get time to give me
full information.
One think I learn from them actually how to behave properly with employee and with
customers. I know from them how to execute the experience what I learned before. I
learned from them how to write cheaque book, dispatch book etc. I also know what is
called business norms. How to react with customer. How to convert difficult situation
into normal.
Page 35 of 46
Chapter 05
Lesson Learned
From The
Internship Report
Page 36 of 46
5.1 Summary Of Lessons Learned:
Form my experiences; I can say that I really enjoyed my internship period in the Mirpur
branch of Uttara Bank Ltd. From the very first day, I was confident that this 12 weeks
internship program will definitely help me to realize my further carrier in the job market. All
is not so sufficient to measure and express perfectly within this short time of my internship
period. But it was a great opportunity for me to get used to Banking Procedure of Uttara
Bank. I have tried by soul to incorporate the necessary relevant information in my report.
During the course of my practical orientation I have tried to learn the practical banking to
relate it with theoretical knowledge, what I have gathered and going to acquire from various
courses. Followings are some of the lessons I have learned from my internship program.
5.2 Culture:Every organization has its own culture at the same time this company do have their own
organizational culture. Within a very few days I successfully adapted their culture. I have
acquired a tremendous upgrade in my self assessment criterion, now I optimized my
confidence level in a way that gives me hidden backup of working in such an organization. I
also learned maintaining time, working under pressure and cope up with different types of
people.
5.3 Working Environment:This company has good working environments. This is very motivating to an employee. A
good working environment results hi better performance. The rights of both employee and
employer are strictly maintained so both parties are secured. High level of work ethics is
evident among the employees. Employees feel free to work at any given level of pressure.
My coordinator and supervisors were very helpful in assisting me. They never misbehaved if
I made any mistakes rather they helped me to correct things. Peers were very friendly and it
was exciting to learn from them.
5.4 Communication:
Throughout the internship program one of the most valuable and important thing I learned is
how to communicate. This company highly emphasize on communication, they prefer virtual
communication rather than faced to face communication. For an example they informed me
the entire schedule earlier and asked if I am comfortable with that. I could change the
Page 37 of 46
schedule by informing them through email or direct call. If I was late all I needed to do was
to text them or email them. They quickly responded to any sort of communication and that
was the best part.
5.5 Time Management:
One of the good things that I have learned from the experience is time management. I badly
needed to learn the tune management because I had faced serious problems to manage both
my work and study. For example while working in there we had to do work on priority basis.
We had to make a list of work a week advance or more on the basis of importance then mark
on the calendar or create notes in the cell phone or notepads. This gives a clear idea of the
schedule. The benefit of the process is job breaking in small parts with estimated time. This
highly increases the efficiency and performance and reduces time wastage. Time
management skills helped me a lot to cope up with big assignments and important meetings.
5.6 Networking:It is useless being qualified and not having any important contacts. This is how it works in
anywhere in the country. We practice the similar things in our company. Uttara Bank Ltd.
was helpful in teaching me how to network because I had to attend the board meeting with
directors, member and senior employees. They knew me for my performance and offered me
different opportunities for my performance. I was greatly benefited by this skill. They are
given high level of importance not only into a university but also outside the university as
they have strong networks. I had a great opportunity to know some of professors personally
for my performance and they ensured me to refer when I need them. I am still in contact with
them.
5.7 Customer Service:I worked at General Banking department but still I had to do attend clients to provide service.
It was mandatory for every intern. It was necessary because if I did not know the clients well
then how am I going to serve them better. I learned how to communicate with them. Then it
helped me to give better services. I learned how to handle difficult situations with the clients.
Attending clients gave an overview of demands and needs of them to enhance the
satisfaction.
Page 38 of 46
Chapter 06
Concluding
StatementsPage 39 of 46
6.1 Conclusion:
As an organization the Uttara Bank Limited has earned the reputation of top listed banks
operating in Bangladesh. The organization is much more structured compared to any other
listed bank operating in Bangladesh. It is relentless in pursuit of business innovation and
improvement. It has a reputation as a leader in financing manufacturing sector.
With a bulk of qualified and experienced human resource, Uttara Bank Limited can exploit
any opportunity in the banking sector. It is pioneer in introducing many new products and
services in the banking sector of the country. Moreover, in the retail-banking sector, it is
unmatched with any other listed banks because of its wide spread branch networking thought
the country.
6.2 Recommendation:
The success of a bank depends on improved service delivery to its customers. Now so many
banks in the country have emerged to cater to the needs of the customers. But till now most
of the bank in Bangladesh is using conventional banking system. UBL is not exception to this
trend. So, there are many areas to improve. In this regard, I would like to recommend the
followings:
The Check passing system of UBL is very time consuming. When a client submits a
check, it’s handled in three places. Firstly, it is registered on the supplementary sheet,
then it comes for computer posting (as well for first cancellation) and lastly it comes
to the section in-charge for verification of the signature and for cancellation. After
that it goes to the cash payment officer for final payment. For this system, the client
has to frequently enquire that whether his/her check has been passed for payment or
not. Also, it takes their valuable time. So, UBL needs to change this system and move
on to a better check passing system.
Due to lack of one stop service, the client of UBL has to move on from one desk to
another. Now in modern banking system, this type of movement is considered as one
type of harassment.
The bank should launch new products such as auto teller machine, tele bank etc for
betterment of customer service.
Page 40 of 46
Strict supervision must be adopted in case of high-risk borrowers. Time to time visit
to the project should be done by the bank officials.
UBL must understand that the keys of becoming one of the most successful banks don’t only
depend on the growth and profitability of the bank. It also depends on the relationship with its
present and prospective clients. If UBL can incorporate the latest banking systems and
maintain a good customer relationship then obviously they will emerge as one of the most
successful banks in the country.
Page 41 of 46
Reference: http:// uttarabank-bd.com/
http://www.assignmentpoint.com/business/an-internship-report-on-general-banking-system-of-uttara-bank-limited.htmlhttp://www.assignmentpoint.com/business/internship-report-on-general-banking-activities-of-uttara-bank-limited.html
http://dspace.bracu.ac.bd/bitstream/handle/10361/3711/11264038.pdf?sequence=1
http://www.uttarabank-bd.com/html/AuditorsReportFin.pdf
http://www.assignmentpoint.com/business/internship-report-on-general-banking-activities-of-uttara-bank-limited.html
http://www.assignmentpoint.com/business/an-internship-report-on-general-banking-system-of-uttara-bank-limited.html
http://www.bis.org/publ/bcbsca.htm
http://www.uttarabank-bd.com/html/Branches.htmhttp://www.uttarabank-bd.com/html/onlinebranches.pdf
http://www.mayerbrown.com/public_docs/Baselarticle.pdf Annual Report of Uttara Bank Ltd 2012
Annual Report of Uttara Bank Ltd. 2012
Page 42 of 46
Appendices
Page 43 of 46
List of banks in Bangladesh
State-owned commercial banksAgrani Bank
Sonali Bank
Rupali Bank
Janata Bank
Private commercial banksUttara Bank Limited
Mutual Trust Bank Limited
Dhaka Bank
Eastern Bank Limited
Dutch Bangla Bank Limited
Pubali Bank Limited
IFIC Bank Limited
National Bank Limited
The City Bank Limited
NCC Bank Limited
Mercantile Bank Limited
Prime Bank Limited
Southeast Bank Limited
Standard Bank Limited
One Bank Limited
Bangladesh Commerce Bank Limited
The Premier Bank Limited
Bank Asia Limited
Trust Bank Limited
Jamuna Bank Limited
AB Bank Limited
Page 44 of 46
NRB Commercial Bank Limited
NRB Bank Limited
Meghna Bank Limited
Farmers Bank Limited
Modhumoti Bank Limited
South Bangla Agriculture and Commerce Bank Ltd
Midland Bank Limited
United Commercial Bank Ltd
BRAC BANK LIMITED
Islami commercial bank
Islami Bank Bangladesh Ltd
Shahjalal islami bank ltd
First Security Islami Bank Limited
Export Import Bank of Bangladesh Limited
Al-Arafah Islami Bank Limited
Social Islami Bank Limited
ICB Islamic Bank
Union Bank Limited
Foreign commercial banksCitibank NA
HSBC
Standard Chartered Bank
Commercial Bank of Ceylon
State Bank of India
Habib Bank Limited
National Bank of Pakistan
Woori Bank
Bank Alfalah
Page 45 of 46
Page 46 of 46
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