The Bank of Punjab: Internship Report

The Bank of Punjab
Internship Report
Submitted By: Sheraz Ahmed Student ID: mc080200034 Semester: 4th Session: Fall 2009 Dated: 04-02-2010
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Letter of undertaking here
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The Bank of Punjab

Internship completion certificate
Starting date of internship: November 23, 2009 Internship completion date: January 18, 2010
Visited Departments Accounts Department Remittance Department
Supervisor during the program Mr. Ashgar Ali Bhatti Branch Manager Mr. M.Rizwan Operations Manager
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Dedication
This work is dedicated to my dearest father Mr. Farzand Ali Shahid, who is no longer with me but his blessings and prayers always are. He was and always will be my source of inspiration and motivation, my one and only role model. He raised me with utmost love and care. Protected and supported me more than the very best of his efforts. He taught me the values of a responsible, humble, committed and honest human being just the way he was. When I was lost, he never lost faith in me. I can never thank him enough nor can I find the words to express the honor and gratitude he deserves. May his soul rest in peace and find the place in heavens he always dreamed of. Amen.
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ACKNOWLEDGEMENT
First of all I would like to thank ALLAH, with His grace I am standing here, successful to attain the knowledge, power to communicate and present it to the readers. Secondly I would like thank my family for having faith in me. Then I would like to present a special note of thanks to Dr. Mohammad Tariq Bucha, Mr. Waseem Ahsan, Dr. Faheem ul Islam and last but not least Mr. Amjad Habib Mirza for educating me and realizing my true potential. Without their untiring support, help and cooperation, this work would not have been possible. I would like to thank my class fellows, students, and management of the MICRO INN TECHNOLOGIES especially campus manager Mr. Mujeeb, who helped me and gave valuable suggestion on the making of this report.
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Executive Summary
I did my internship in the Bank of Punjab as requirement of the Virtual University MBA program. During this time I got practical experience of how an organization operates. This program consisted of eight weeks during which I observed various task and functions perfumed by the bank. I worked as an assistant to Mr. M.Rizwan Operations manager and assisted him in his duties. I visited two of the main departments of the bank, accounts department and remittance department. I observed the procedure of account opening, account closing, cheque book issuance, signature specimen card, demand draft and pay order. I intended to work in foreign trade department but could not so because of the banks policy. I assisted customers in filling account opening forms, remittance forms and helping them in deciding the type of deposit according to their requirements. During this period, I observed that there are a lot of deficiencies in the branch such as shortage of staff members, short of space, malfunctions of the systems, long working hours, low morale of some employees, and lack of communication and no visible distinction of work allotment. I also noticed that every worker is handling more than one task out from his area of specialization. During this time I developed strong and friendly relationship with the staff of the bank. My timings were from 09:00AM to 05:00PM.
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Table of contents
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8.
Overview of the organization
8.1 Brief History

Established in 1989, in pursuance of The Bank of Punjab Act 1989 and was given the status of scheduled bank in 1994. The Bank of Punjab is working as a scheduled commercial bank with its network of 272 branches at all major business centers in the country. The Bank provides alltypes of banking services such as Deposit in Local Currency, Client Deposit in Foreign Currency, Remittances, Advances to Business, Trade, Industry and Agriculture A wholly owned subsidiary of BOP First Punjab Modaraba (FPM) was established in 1992 and is being managed by Punjab Modaraba Services (Pvt) Ltd.
8.1.1 Vision statement
"To be a customer focused bank with service excellence"
8.1.2 Mission statement To exceed the expectations of our stakeholders by leveraging our relationship with the Government of Punjab and delivering a complete range of professional solutions with a focus on programmed driven products & services in the Agriculture and Middle Tier Markets through a motivated team.
8.1.3 Message of the Punjab Government
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Punjab Government wishes to state that being the major stake holder in the Bank of Punjab it has full faith in the new management and operations of the Bank. The Government further pledges its unequivocal support to the Bank and firmly believes that the affairs of the Bank are sound and its financial health robust.
8.1.4 Core Values
Our Customer: As our first priority. Profitability: For the prosperity of our stakeholders that allows us to constantly invest, improve and succeed. Corporate Social Responsibility: To Enrich the Lives of community where we operate. Recognition and Reward: For the talented and high performing employees. Excellence: In every thing we do. Integrity: In all our dealings. Respect: For our customers and each other. 8.1.5 Branch Network
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Total number of branches are 272 geographically dispersed all over the country Following is the allocation of branches according to the cities (in descending order) Lahore Multan Gujranwala Faisalabad Rawalpindi Peshawar Karachi Quetta 67 64 45 44 38 7 6 1
8.2 Nature of the organization
The Bank of Punjab is a service sector organization in the financial institution market catering to the needs of vast majority of customers and businesses by offering products and services according to the specific needs of the targeted market. It is offering its solution like Deposits, Profit sharing products, financing in consumer, commercial, business and agriculture sectors
8.3 Product lines/Brand Portfolio

8.3.1 Deposit Products
11 The Bank of Punjab Internship Report Current Accounts BOP Basic Banking Account (BBA) 8.3.2 Profit Loss Sharing BOP Pehlay Munafa Scheme PLS Saving Account Senior Citizens Saving Account Gharayloo Saving Account Ziada Munafa saving Account PLS-Saving profit Plus Account Corporate Premier Account Corporate Premier Term Account Munafa Hi Munafa Term Account - III BOP Tijarat Account (LCY) BOP PLS Supreme Saving Account BOP FCY Supreme Current Account BOP FCY Supreme Saving Account 8.3.3 Commercial Finance Running Finance Demand Finance Cash Finance 8.3.4 Consumer Finance Aasaish Loan Quick cash Car Loan
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12 The Bank of Punjab Internship Report House Loan Smart Cash Personal Loan Furniture & Crockery Loan 8.3.5 Consumer Banking Clean Pakistan - CNG Filling Station Scheme Lady Entrepreneur Financing Scheme Auto Lease Financing Scheme Car Dealers financing scheme Karobar Barhao Scheme Fertilizer Dealers Financing Scheme Ali Akbar Group - Franchise Financing Scheme Alas Honda Limited - Authorized Dealers Financing Scheme Financing Scheme - Purchase of Office/Shops 8.3.6 Agriculture Credit Green Tractor Lease Finance Scheme Agricultural Finance Scheme Kissan Dost Tractor Scheme Second Hand Tractor Lease Finance Scheme Kissan Dost Aabiari Scheme Kissan Dost Mechanization Support Scheme Kissan Dost Farm Transport Scheme Kissan Dost Eslah-E-Arazi Scheme Kissan Dost Live Stock Development Scheme Livestock Breed Improvement Trough VVW
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13 The Bank of Punjab Internship Report Kissan Dost Commercial Agro Services Kissan Dost Agri Mall Finance Scheme Corporate Farming Finance Scheme Commercial Lease Finance Tractor Scheme Demand Finance-Sheds Construction and Civil Works Landless People for Purchase of Buffaloes Lease Finance Facility for Milch Animals Running Finance-Livestock/Poultry and Fish Farms Kissan Dost Model Dairy Farms (PDDC) Kissan Dost Model Milk Collection Center (PDDC) Financing For Potato Grower Kissan Dost Green House Finance Facility Kissan Dost Cold Storage Finance Facility Scheme for Controlled Sheds Lease Finance Facility for Installation of Biogas Plant Group Financing to Small Farmers Clean Credit Facility through Syngenta Franchisees Zarkaashat Drip Irrigation System 8.3.7 Non Fund Based Products Documentary letter of credit Standby Letter of Credit
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8.4 Branding Strategy
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The Bank of Punjab uses Umbrella brand strategy in which all products under the same brand. All the products and services offered by the bank are have a clear distinction, and portray the image of the bank in the minds of the consumer. Product/service names are carefully selected to differentiate them form the competition as well as other solution provided by the bank.
8.5 Main Clients
General Public Small business Agriculture sector Farming sector Mid level businesses Corporate Business WASA PTCL SNGPL
8.6 Main competitors
National Bank of Pakistan Muslim commercial Bank Habib Bank Limited First Women Bank Limited
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9.
Organizational Structure
9.1 Organizational Hierarchy Chart
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9.1.1 Branch Hierarchy chart
Branch Manager
Operational Manager
Credit
Remittances
Advances
Foreign Trade
Account Opening
Short-term loans
Import
Mortgage Loans
Export
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9.2 Employees
The number of employees at present is about 4,000
9.3 Introduction of departments

The BOP wapda plaza branch has following departments 1. 2. 3. 4. 5. 6. Deposits (accounts) Cash Agri Remittance Collection Clearing
9.3.1 Deposits
This department performs the following functions
Account Opening
Board of Directors Chairman An application must be submitted in order to open an account. Senior executive vice president SEVP are those required by the bank. The bank opens the following type of accounts Executive vice president EVP Vice president VP Assistant vice president
This
application form is useful for all accounts opening. The requirements of application
Account Closing
Officer 1st grade
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The client closes his account by submitting an application. The account is closed and balance is paid after deducting the closing charges and application is filed in account closing file. Cheque book is returned to the bank. The bank officer cancels all the cheques.
Officer 2nd grade Officer 3rd grade Cash officer
Cheque Book Issuing
A Cheque is a written order by the account holder to pay the specified sum of money to the specified person. After account opening a chequebook requisition form is filled and filed. This requisition form is given just for first time getting chequebook or for new a/c holders. Every chequebook has a requisition from attached to it before the last 10 leaves. So when the account holder reaches to this slip after issuing the first cheques, he fills this slip and presents it to the bank.
Types of accounts
Aside from offering general banking services, this department also offers two majors kinds of deposits Checking accounts Portfolio sharing account accounts These are account categories with further variations of the offerings
9.3.2 Cash Department This department handles all the operations associated with cash such as Cash payment
19 The Bank of Punjab Internship Report Cash Receiving Online Transfer of money 9.3.3 Agri Department
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This depart of the bank handles agriculture loans and advances
9.3.4 Remittance Department
This department performs following functions
Demand Draft (DD)
It is also known as the remotely created cheque. It is used for outstations. DD is a relatively secure method for cashing checks. The major difference between demand drafts and normal checks is that demand drafts do not require a signature in order to be cashed. It provides the ease of paying and receiving on regular basis without singing the cheques every time.
Pay Order (PO)
A pay order is a mode of payment used locally within the jurisdiction of the same clearing house. It is same as the DD but used locally. It is also called the bankers cheque. It is not negotiable. PO is safer because the cheques can be dishonored but the PO is not.
20 The Bank of Punjab Internship Report Mail Transfer (MT)
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Some times an a/c holder of a bank, who maintains an a/c with more than one branches of the bank, wants to transfer fund from one a/c to another or a nonconstituent wishes to remit funds in a particular a/c maintained at some place in the branch of the bank. And when accounts are transferred from one branch to another branch, such balances are transferred by means of mail and are described as mail transfer remittance
Telegraphic Transfer (TT)
It is a message which is sent from one branch to the other by order of payer to payee through wire. It is one of the fastest means of transferring fund through the use of telex/fax/internet or cable. Payment to payee is affected directly by the drawer upon identification or through credit into payee banks account.
Tested Message (MT)
These are code words, used within the message body of DD, MT and TT. All banks have predefined code words that must match up during these transfers. In this way the bank can consider the request as legit.
SDR (Security Deposit Receipt)
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This method is used by companies who want to participate in tenders and Expressions of Interest (EOI). The bank reserves the specified amount in return for SDR. One SDR can be used for many tenders. The amount is released upon payers request after completion of the tender.
9.3.3 Collection Department
It is the process in which the bank acts an agent of the customer. The bank performs collection on behalf of the client. There are two types of Bills of Collection
OBC (outward Bills of Collection)
It is favorable to the bank because the instrument of the collection goes out and funds come in. clients branch sends the requisition to the specified branch which in turn accepts the instrument and credits the inquiring branch. In this regard the bank is known as collecting branch
IBC (Inward Bills of Collection)
In this arrangement, instruments drawn are received by the branch and funds go out. This is the opposite procedure of OBC in which the other branch outside of the clearing house are draws an instrument on the specified branch. The branch has to accept the instrument and pay funds in exchange. In this regard the branch is known as paying branch.
22 The Bank of Punjab Internship Report 9.3.4 Clearing Department
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This department is responsible for clearing the cheques of it self and other banks. Functions performed by this department are
Inward Clearing
These are the cheque, which BOP account holder gives to such account holders who have their accounts in other banks other than BOP. So those banks submit their cheque books to NIFT (National Institutional Facilitation Technologies) which intern presents it to State Bank of Pakistan in form of reports.
Outward Clearing
Outward clearing means the collection of cheques on behalf of customers. These cheques are those, which are drawn on other banks. This clearing can be local or out station. When customer brings such cheque, he fills the deposit slip. He keeps counterfoil and the remaining part is stapled with the cheque.
Within Bank Clearing
If the cheques are drawn on same bank or on other branches of this bank then it is called clearing within bank.
9.4 Structure type and its description
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BOP uses two types of departmentalization, Functional and geographical departmentalization. Functional as it has separate department for every function and task, and geographic for the sake of covering the target market and customer convenience. Having a uniform chain of command BOP is centralized and the span of control is narrow. All the important decisions are made at the top with little involvement of low and middle level employees.
10. Internship Program
10.1 BOP wapda Plaza Branch introduction
I did my internship in The Bank of Punjab, Wapda Plaza, Sargodha Road, Sheikhupura (Branch code 22). It is a relatively small facility situated on brink of the very busy main Sargodha with only 15 employees. This branch is very well suited in the middle of the city and customers from all around can easily access it. It has the following staff Mr. Asghar Ali Bhatti - Brach Manager Mr. Imran Hanif Sheikh Operations Manager Mr. M.Rizwan - Banking Officer Mr. Karam Anwar Awan Cash Officer Mr. Talha Saleem Awan Junior Cash Officer Mr. Tabarak Hussian System Administrator Mr. Allah Ditta Billing Officer Mr. Tahir Mehmood ACO
24 The Bank of Punjab Internship Report Mr. Sunny Fernandez ACO II
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Apart from this staff, the bank has 4 guards and 2 messengers.
10.2 Departments visited by internee
The total duration of the internship program was 8 weeks starting from 23rd November 2009 till 18th January, 2010 Accounts department For a time period of two weeks, from 23 November, 2009 till December 20, 2009 During these two weeks I observed and learned the procedure of account opeing and cheque book issuing. Remittance department Also for two weeks, from December 21, 2009 till January 18, 2010 In the due course, I learned the process of demand draft and pay order issuing and collection.
11. Training Program
11.1 Operations of the visited Departments
During the entire course of my internship in the Bank of Punjab, I visited various departments, completed various tasks, observed the working procedures of two departments and learned many things. The overall experience of this program was pleasant and resourceful. During the entire program, the responsibilities and work assigned to me fall within the two main departments and functional areas of the bank.
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Accounts Department and Remittance Department introduction of the functions and procedures of these two departments have been discussed earlier, further elaboration is discussed below
11.1.1 Accounts Department
Deposits are the main source of income for any bank and the account opening department of any banking system is the sales department which makes the inflow of cash possible. In todays banking systems, deposits act as a life blood and provide the only source of income and revenue for the bank. Through deposits the banks makes loans and provide credit lines witch the secondary source of income and solely rely upon the deposits. It is the contact point and foremost step in the client bank relationship. Introduction is the primary requirement for opening an account within the bank, this come from an account holder or the employee of the bank. The different categories of accounts that are available are as under.
Individual account Joint Account Partnership and firms Account Limited Company Account LLC Account Clubs, Society, NGO, Association, or Trust Account Short Notice Term Deposit (SNTD) Term Deposit Receipt (TDR)
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Foreign Currency Deposit (FCY D)
The bank of Punjab primarily offers two types of account. Deposit account and Profit and loss sharing account with further subdivisions.
11.1.1.1 CURRENT DEPOSIT ACCOUNT
Also called the checking account, main clients of this type of account are various businesses of small to large scope, businessmen and people who need quick and easy money deposit and withdrawal without any hassles. This account acts as a safe keeper of readily available money. Following are the features of this account
Source: www.bop.com.pk The Accounts shall be opened upon submission of duly filled-in Banks prescribed Account Opening Form properly introduced in the manner provided and on submitting all such documents as may be revised by the Bank. The Bank reserves the right to demand such relevant documents even after opening of account as deemed necessary. The Bank has the right to refuse to open an Account without assigning any reason. The Accounts shall be opened with an initial/minimum deposit as stipulated by the Bank from time to time unless specifically exempted. A distinctive number shall be allotted to every account and this number should be quoted in all correspondence relating to the account and at the time of making a
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deposit or withdrawal. The Bank reserves the right to change the Account Number or any part of it in order to meet its book keeping/administration requirement. However, intimation of change in the account number shall be sent to the account holder. Account for the recipient of Zakat or recipient of grants from Bait-ul-Mall, maybe opened with an initial deposit of Rs.100/- (introduced vide Inst Cir#97/129 dated 25.11.1997 & Inst Cir 98/53 dated 03.06.1998) The Accounts may be opened singly in one name or jointly in two or more names. Deposit may be accepted from minors provided the account is opened and operated through a guardian. The Account thus opened will continue to be operated upon by the guardian even if the minor attains the age of majority. The necessary consent to this effect will be obtained at the time of opening of the account. The orders of the court will, however, are followed in case the guardian is appointed by the court. All monies/instruments to be deposited in an account should be accompanied by payin-slip showing the title and number of the account. The entry of transaction shall be authenticated by putting Banks stamp under the joint signatures of two officers of the Bank on the pay-in-slip and counterfoil thereof. However in case of branches where teller system has been introduced, teller only shell authenticate the transactions up to the prescribed limits. Withdrawals will not be allowed against postdated (payable on any future date) and stale (06 months after issuance date) Cheques and against un-cleared funds. Where any account is not conducted to the satisfaction of the Bank, the account may be closed without any notice and the balance will be remitted to the depositor at the address given by the Account Holder(s). For New Customer
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All CD accounts which are not operated upon by the account holders for a period of one year will be classified as dormant. After passing one year in the dormant status, that is, no operation in the account for a continuous period of two years, the account shall be classified as inoperative. This entails certain restrictions on the operation of such accounts, for reactivation, the account holder must in person request for a change of status and will produce original CNIC or Passport or Pakistan Origin Card (POC) or National Identity Card for Overseas Pakistani (NICOP) with photo copy for Branch / Bank attestation. After passing further 8 years in inoperative status ,i.e., if a CD account is not operated upon by a customer for a continues period of ten years, it will be classified as unclaimed deposit account and will be surrendered to SBP as per the provisions (section 31) of Banking Companies Ordinance 1962
For Existing Account Holders The period of conversion of a normal CD account to dormant has been enhanced from 06 months to one year, since last operation in the account, with effect from January 2008. Withholding Tax at the rate notified by the Government of Pakistan from time to time will be deducted out of profits payable to the Account Holders. ZAKAT is livable on the assets as described in the Zakat & Ushr Ordinance 1980 (as amended from time to time) on balances which will fall within the definition of zakatable assets as notified by the Government of Pakistan on valuation date each year, provided Declaration (original/attested photocopy) for exemption from compulsory deduction of zakat is filed on the prescribed Performa (CZ-50) in the prescribed manner one month preceding the valuation date except in the case of newly opened accounts.
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The branches shall ensure completion of all the formalities required by State Bank of Pakistan vide Prudential Regulation No.M-1with regard to KNOW YOUR CUSTOMER.
BOP Basic Banking Account (BBA)
This is the most basic type of account BOP is offering to its customers. The advantage of BBA is that is same as the CD but low cost checking deposit. Occasional customers and clients with basic funds transfer needs opt for this account. Salient features of this account are
The minimum initial deposit required is Rs.1000 There is no service charge for keeping this account alive, but transactions do cost The client is authorized to make as many transactions as possible. Due to the readily available nature of this account, it is treated as the current liability of the bank.
No profit is paid on this account Over drafting is possible with this type of account There can be zero balance is the account but after continuous six months of zero balance, the account is closed
The clients can perform two deposits and two withdrawals free of charge, over theses limits the bank charges the clients for services according to the Banks Schedule of Charges (BSC)
The clients can use ATM facility without any limit and service charges but using the BOPs ATM card in any other banks ATM costs service charges of Rs.15
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Any type of account withheld can be converted into a BBA upon request and written application free of charge.
PROFIT & LOSS SHARING ACCOUNT (PLS & PLS Plus Savings Account)
This type of account is according to the Islamic Banking Regulations. This account is one step ahead of the current account by offering something in return for the funds deposited in the bank. It is also called Portfolio sharing account in which the client is given the status of the share holder of the banks portfolio. The clients benefits from the earrings of the bank according to the predefined interest rate and the amount of investment. These accounts are also profitable for the bank because the bank has the legal choice of investing these deposits any form it perceives feasible. This acts as the source of revenue for the bank The major difference between the PLS and PLS Plus is that plus account offers more return than the other. The PLS Plus account requires the maintaining of the required funds with the bank
Salient features of this account are
Minimum amount of initial deposit is Rs.200 for the basic PLS account Minimum amount of initial deposit is Rs. 1 million if the minimum amount falls below this limit the PLS Plus will be considered as a normal PLS account.
Profit is payable biannually Individuals, corporations, organizations and various provincial / federal government departments can open accounts under the scheme.
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This is an operating/checking account the accounts can be opened in individual or joint names.
The deduction of Zakat and Withholding tax will be applicable as per law of the land. Average balance during a calendar month will be taken to determine the deposit slabs and applicable profit rate for that month for the purpose of creating provisions.
Saving Profit plus Account interest rate General Customers: Rs.1.000 (m) & above but below Rs.5.000 (m) Rs.5.000 (m) & above but below Rs.25.000 (m) Rs.25.000 (m) & above but below Rs.100.000 (m) Rs.100.000 (m) & above but below Rs.1500.000 (m) Rs.1500.000 (m) & above but below Rs.2500.000 (m) Rs.2500.000 (m) & above Financial Institutions Up to Rs.50.000 (m) Above Rs.50.000 (m) to Rs.100.000 (m) Above Rs.100,000 (m)
1.00% 1.50% 1.75% 2.00% 3.00% 3.25% 0.50% 0.75% 1.00%
1.00% 1.50% 1.75% 2.00% 3.00% 3.25% 0.50% 0.75% 1.00%
Bop is offering many variation of this PLS account to cover specific customer needs such as BOP Pehlay Munafa Scheme Senior Citizens Saving Account Gharayloo Saving Account Ziada Munafa saving Account Corporate Premier Account Corporate Premier Term Account Munafa Hi Munafa Term Account - III
32 The Bank of Punjab Internship Report BOP Tijarat Account (LCY) BOP PLS Supreme Saving Account BOP FCY Supreme Current Account BOP FCY Supreme Saving Account
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Account closing
Closing an account within the bank entails the follows Application form filled and submitted to the branch The application is processed and the account is closed within next 7 working days The account officer returns the amount to the client after all the necessary deduction and due service charges
Cheque book issuance The process of issuance of a cheque book is as follows A cheque book is only issued after opening an account A cheque book requisition form is filled and submitted to the account opening department This form contains the following information Title of the Account Date (in 2 places)
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Account # Cheque no from to to Signature of Account Holder Service charges for a cheque book are Rs.75 The account opening department files the requisition form in the accounts records Every cheque book has an attached leaf of requesting a new cheque book before the last ten leaves
11.1.1.2 Remittance Department
Remittance means transfer of monetary funds and legal tenders from one location to other within the same clearing house or any other. Remittance is a major function of any bank providing commercial services. It is also a source of revenue for the bank as the bank receives the service charges for the remittance of funds. The charges are established according to the Banks Service Charges Schedule.
The Bank of Punjab deals with the following type of remittances
Demand Draft (DD)
The demand draft is an instrument of collection issued by one branch to another for the payment or transfer of funds. It is issued by the request of the clients and usually used for outstation transfers. It is safer than the cheque and requires no signature.
34 The Bank of Punjab Internship Report Issuing Demand Draft
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A draft voucher containing the following information is filed Name of the parties involved Date Amount to be sent Account number (if DD is crossed)
A credit voucher is filled in order to get the excise duty and exchange commission. The sender deposits the total amount of the two vouchers i.e. the debit and credit vouchers.
Then the cashier sends the cash receipt voucher to the accounts department and the account records the amount paid in his cash scroll.
Accountant gives the DD leaf along with the DD voucher to his assistant who records the senders name, amount and receivers name. After writing all the information in the DD register he gives it to the officer along with the DD for authentication.
After authentication the DD is handed over to the sender and bank sends the advice to the concerned branch. So when the party presents the DD in the concerned branch its payment could be made.
Entities involved in DD
Payer The purchaser is the person who sends the money to a particular person payable at a certain branch Payee
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The person who is entitled to receive the amount after presenting the demand draft in the drawer branch Drawing Branch The branch from where the demand draft is issued to another branch of the same bank. Receiving/Drawer Branch Branch in which the draft has drawn and called upon to pay the amount
Mail Transfer (MT)
Mail Transfer is the remittance using mail delivery. MT used by a customer or a noncustomer is directly credited to the account of the beneficiary with another branch. It is an inter bank operation. Bank charges for this service according to the Schedule of charges
Process of MT
Voucher is filled containing amount to be sent, name, account number of the receiving person with the branch name and date.
Credit voucher is filled containing deduct exchange, postage charges according to the amount of the mail transfer.
The sender deposits the total amount in the cash department. The cash officer gives the vouchers to the officer after affixing received cash stamp and writing the amount in red ink.
Then the officer writes the amount paid in the cash scroll and gives the MT to his assistant.
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MT leaf is filled according to the information provided in credit voucher. He also writes the same information in the MT register. Then he gives the MT leaf and MT register to the officer for authentication.
Telegraphic Transfer (TT)
The TT is the fastest method of sending and receiving funds. The branch manager issues the TT. Mediums like FAX, TELEX and Telegram (and sometimes telephone) are used for TT.
Process of TT
A renegotiated branch code (BOP skp branch code is 22) and secret key is used to authenticate the TT.
First the authentication of is done through a test then the information regarding the TT is sent.
After making all the conformation the concerned branch makes the payment to the receiver.
Pay Order (PO)
Pay order is an instrument same as the DD but used locally and within one bank. It is a form of cheque issued by the bank and paid by the bank itself. The branch can issue PO for
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itself or one department can issue PO to other. The charges of PO are less than DD and some banks issue it free of charge to its loyal customers. Sometimes the PO requires the authentication of the zonal chief, but the branch manager is authorized to issue PO.
Process of PO
PO voucher is filled along with the amount in words and numbers, payee, account of, time and date and branch name and branch code The bank keeps the record of every PO issued The PO is crossed which means that the funds are transferred to the payees account
11.2 Work assigned to internee I was responsible for Assisting new customers in choosing account types and filling account opening forms Verifying the account opening forms for mistake and blank fields Verifying the cheque book issuance forms for mistake and blank fields Filling Cash deposit receipts with the help of the teller Assisting the clients in submitting DD requests Helping various employees in their work Presenting various documents to branch manager for verification and signature
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12. Structure of the marketing department

Marketing Department of any organizations operating in a dynamic environment should be proactive rather than reactive; it should add value to the organizations operations. Complement upon the mission and vision of the organization and should customer oriented. It should anticipate the requirements of the target market and fulfill the obligations imposed upon the organization. We see numerous examples that if the marketing department is doing a fantastic job by actively matching the needs of the customers with easy available solutions, then the organization is also growing. BOP has established a unique marketing and sales department structure, which is different from the conventional structures observed in other banking sectors. The name of the department which operates in place of the marketing and sales department is Business Development Division. It is further divided into two sub departments of marketing cell and PRP Department. This head is responsible for all the functions related to marketing, sales, advertising, promotion, research and development.
12.1 Department hierarchy
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Board of Directors Chairman Managing Director General Manager Marketing Sales Department Advertising Department Area Affairs
12.2 No. of employees

The estimated number of employees working in the marketing (Business Development Division) is 70
12.3 Marketing operations

Marketing department of the Bank of Punjab is responsible for the following tasks Managing and assisting marketing operations activities such the developing offers and schemes Managing and supporting product and service development Marketing-driven IT development and any other customer-impacting activity
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Identifying such business process that facilitate day to day operations of the department
Developing effective modes of communication between various departments of the organization
Work with multi-discipline teams to ensure that offer/promotion and product/service launch.
Recommending and implementing business process improvements plans to improve efficiency/effectiveness, and enhance the overall consumer experience
Development of marketing goals and strategy Conducting marketing researches and monitoring customer needs Establishing rules and business concept of how the organization will deliver itself on the market
Developing and evaluating marketing instruments Conducting marketing researches and monitoring customer needs Finding unique and innovative ways to increase the margins and revenues of the organization
Finding new markets and customers Creating value in the mind of the customers through every activity Developing and implanting marketing plan and controlling the process from start to finish
Tracking the performance of the action of the department and taking corrective action whenever necessary
Reducing the gap between required performance and actual performance Carefully allocating resources for the overall marketing operations
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13. Functions of marketing department

The workflow of the marketing department is defined by its functions. Most organizations has a marketing division responsible for marketing strategy, advertising, researching, promoting, conducting customer surveys, branding, public relations and creating of corporate style. All these responsibilities can be gathered in several main functions of the marketing department. These functions are as follows:
13.1 Segmentation strategy
Market segmentation is the identification of portions of the market that are different from one another that allows the firm to better satisfy the needs of its potential customers Every customer has different needs than the rest, but in every market there are groups of customers that have the same needs. Segmentation focuses on finding those groups of customers with homogenous needs that can be attracted toward the organization through marketing efforts. It the firms fail to identify its segments, it will create an opportunity for the competition or a new entrant to take up that segment. Following are some of the key points that should be considered while selected a segment Size of the segment (population, units etc.) Rate at which the segment grows Competition and its strategies How much loyal are the customers of the segment Attainable market share
42 The Bank of Punjab Internship Report Required market share to break even and cover sunk cost Sales potential for the firm in the segment Expected profit margins in the segment
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Bank of Punjab Segmentation includes Differentiated segmentation approach: serving well established segments of the market and offering valuable products and services to each segment according to the needs of the particular segment

Small, mid and corporate businesses with variable needs Targeting main sector of Pakistan, Agriculture an farming Diversified services to all basic consumer, general public and business sector
13.2 Target market
The bank of Punjab is a service firm providing commercial banking fallibilities to its customer all over the country. Selective Specialization: focusing on the specific segments of the market with different marketing mix for each ( general public and corporate customers)
Market specialization: specializing in offering different products to a specific market segment ( Agriculture)
The banks targeted market is the agriculture and its associated professions It has always been true to the cause and provided unmatched products and service for its target audience.
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Financing of the agriculture sector Facilitation of the mid tier farmers Establishment of facilities and small businesses within the region Establishment and facilitation of farming and its associated division
13.3 Product Planning, Development and Management
The product planning department of the bank of Punjab is not proactive, it take a long time develop and introduce new products and services. There is a lot of room for growth for this department. Although is it working very well and presenting its customers with top of the competition products, but it still has not offered some of the latest service like mobile banking, travelers cheques, credit cards and international banking. The Agri (financing) loans and the pehly munfa schemes are providing the bank with a competitive edge.
13.4 Pricing strategy
According to the BOPs half yearly schedule of charges, BOP is quite affective in its pricing strategy. It uses price discrimination for account holders which are relieved of some of the service charges paid by non account holders. Also the price of remittances is different for account holder and non account holder. Due to strong relationship of the customers, and clean credit history with the bank, some of the services provided to them are free of cost. Various features of the pricing strategy are as follows
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The overall price structure of the bank of Punjab is competitive and challenges the competitors
BOP staff is exempted from almost all the service charges paid by account holders BOP uses a mixed structure for its pricing
Target return pricing: set the price to achieve a target return-on-investment, every branch has a specific target to achieve every month
Economy Pricing: cost of advertising and marketing are kept minimum and the product and services are offered at economy prices, this is the hallmark of POB Value Pricing: This approach is used where external factors such as recession or increased competition force companies to provide 'value' products and services to retain sales, BOPs various KISSAN schemes and profit sharing deposits are an example of this pricing strategy
13.5 Distribution strategy
Once the awareness of the existence of the business is created, is comes down to the place, point of purchase and distribution of the products and services. Distribution includes the delivery of the product or service to the customer in quick, easy and convenient way. The distribution includes all the channels and intermarries used to deliver the final product to the customer. It related to the Place of the marketing mix and customer convenience of the four Cs. Salient features of the distribution of BOP are as follows
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BOP target segment is mid tier business and general public., the network is small relative to the competitors but serves the target market well
The distribution strategy used by this bank is mixed distribution approach (traditional branch networks Carefully placed branch networks in all major cities and towns of the country and online banking)
Rendering of quick cash service by using two of the most widely available services 1LINK and Mnet
Clearing house services provided by NIFT are fast, secure and convenient
Online money transfer
E-banking facility, providing services to the customer at their time and place
13.6 Promotional strategy Promotions refers to the communication part of the marketing mix where the manufacturer or service provider communicates with the target audience about the product, its value, its benefits, price etc., the promotional P of the marketing corresponds to the Communication part of the fours Cs. Promotion can be defined as the The communication of information about the product with the goal of generating a positive customer response
46 The Bank of Punjab Internship Report Marketing communication decisions include: Promotional strategy Advertising Personal selling & sales force Sales promotions Public relations & publicity Marketing communications budget
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BOPs promotional strategy includes Push strategy: the products and services offered by the bank and available at every branch is a form of push promotional strategy
Every employee of the bank is also a sales force worker granting information, and assisting in choosing the right product and service for the customer
BOPs products and service are delivered/rendered directly without any channel interruption
14. Structure of Sales Department
A sale is the pinnacle activity involved in selling products or services in return for money or other compensation. It is an act of completion of a commercial activity The sales department is of utmost importance for the bank as it completes the cycle of all the activities before it. The marketing department and sales department work side by side in achieving unified objectives. Marketing department can only design the solution for the
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customer needs but it is the commitment of the sales department to deliver it to those customers. This task also comes under the Business Development Division, which is responsible for sales department and its responsibilities
14.1 Department hierarchy
Board of Directors Managing Director General Manager Marketing Sales Department
14.2 No. of employees

The estimated number of employees working in the marketing (Business Development Division) is 70
14.3 Sales operations
Operation and management of the overall banking operations
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Management and control of all the regional and zonal offices sales Establishing clear guidelines for all the branch sales Establishing targets and missions and monitoring/evaluating the performance of all the branches
Operation and management of the back office tasks such as client due diligence, account opening of all types, handling of customer queries and complaints
Promoting the banks cause (deposits in this situation) It gives motivation to branches to achieve their targets through different campaigns and schemes like cash prizes and special increments.
It publishes a bulletin in which those branches are encouraged who achieves their monthly targets
Encourages to clients to use the service of the bank Installing more processes in more places and expanding or creating new sales channels.
Using methods like suggestive selling and consultative sales and ultimately closing the sale.
Following are some of the successful sales campaigns introduced by the bank
Kissan dost scheme: The Kissan dost scheme is for the facilitation of farmers to increase the agriculture productivity.
Pehly Munafa Scheme: this is a very unique offering in which the bank gives the interest on the payment in advance to the customers, very popular in the target segment
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Karobar barhao scheme: The Karobar barhao scheme is for the small investors to increase their businesses by financing
Lady entrepreneur financing scheme: This scheme is for empowerment of the women in Pakistan who want to start their own business, targeting low to mid level clients
CNG filling station financing scheme: This scheme is for the CNG filling station for the betterment of the services rendered to the customers
Financing scheme for purchase of shop or office: This scheme is for the purchase of shops and offices targeting low to mid level customers
15. Function of the sales department
After the efforts of the marketing department in developing and presenting the perfect product or service for the target market, it comes down to the sales department to complete the final process of the entire work that is closing the sales. This department is the backbone of any organization. Without sales, there is no use of producing, manufacturing, rendering, marketing, advertising, accounting and even existing. So the responsibility of the whole organization depends upon the efficiency and effectiveness of the sales department. It functions properly, whole of the organizations will benefit from it and grow, but if it performs poorly, then the organization survival will dwindle.
15.1 Sales methodology
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The Bank of Punjab being a financial institution provides services associated with the financial markets.
The sales of this nature of business are the deposits, service charges, interest rates, costs of loans and advances, remittances foreign exchange etc
Every worker of the bank is a sales force agent promoting and notifying of the banks products and services persuading potential and non potential customers to use the banks products and services
The BOP uses Point of Purchase (POP) advertising frequently to create awareness about different products and services
There is notice board present in every branch on which various kinds of information is available
BOP print advertising frequently, within the branch, and in the form posters and flyers BOP also uses Advertising specialties in the form of giveaways like pens, diaries, calendars bags etc.
The ATM machine is also a dynamic source of present selling propositions to the customers and non customers in a unique way.
15.2 Selling method
Selling being the crucial part of any business, rest upon the type of method used to close the sale. Personal selling, direct selling, sales force, intermediary and indirect selling are some of the methods adopted to complete the sale objectives.
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These are some of the question that need to be answered before deciding the type of selling the firm is going to use
How can the organization build customer loyalty? How can the firm increase sales to existing customers? (more frequent use or buys, use of other products offered by the seller) How can you penetrate into new areas profitably? How can the firm sell in such a way that the brand image remains intact Answer to these questions will decide the type of selling technique the firm is going to use. The bank of Punjab uses following methods of selling its products and services
Primary method of achieving sales objective is direct selling Direct method of selling incorporates both technology banking and traditional banking
Personalized selling through negotiations and charging on case to case basis Pushing the products and services into each branch and then directly and personally selling them to the customers
Through bank campaigns like Green tractor and munafa hi munafa scheme Online banking (also a direct selling method) through internet using the E-Banking System
15.3 Sales returns procedures
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The Bank of Punjabs sales are basically services that require no returns or replacement; these are backed up by guarantees and values of the organization. The services deposits, CDRs, checking accounts etc
These are types of products and services that are part tangible and part intangible, so the process of the sales returns becomes very limited not because of the limited options but only because of the nature the of services and business.
Despite all these factors, clients can exercise sales return by following methods
Withdrawal of the deposits from the bank Changing the type of account if one is not satisfied with the present account or needs extra benefits or services which various types of account offer
Selecting only the specific type of employees to talk to and request for services while avoiding others
Filling the complaints and suggestion form and submitting it online or through drop box if a customer is displeased or want to share his/her
In case of advances and loans, returning the due payment before time to cancel all kinds of relationships with the bank
Meeting and discussing products and service flaws with the manager of the branch Cancelling all the future deals with the bank Negotiation the term and conditions applied to certain services
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16. Customer Services department
Every time a contact takes place the bank has the opportunity to satisfy the customer, delight the customer or lose him. Customer judge every aspect of the service rendered with the expected service quality resident in their minds. This expected service quality is developed by a number of factors like Reliability: Perform promised service dependably and accurately. Responsiveness: Willingness to help customers promptly. Assurance: Ability to convey trust and confidence. Tangibles: Physical facilities and facilitating goods. Empathy: Ability to be approachable. The above dimensions are universally accepted benchmarks for evaluating and comparing the service rendered by any organization. More or less these dimensions help the customer to rate and distinguish one service provider from another, a good service from a bad one. This approach is very popular and is often referred to as RATE. Bank of Punjab management is very conscious of their service quality. As being solely a service organization, the management uses a proactive approach to educate and develop the customer oriented thinking in the staff. It arranges workshops and seminars every now and then to develop the true sense of customer retention in the employees of the organization. The following are the services being provided to its customers.
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Acceptance of deposits Granting of loans Transaction Foreign Exchange Services Remittance Collection Fund Transfer Service Lockers facility Utility Services
16.1 Process of developing relations with customers
The banks is performing its duties very well in engaging with the customers. The customer satisfaction is achieved and maintained by the bank. The banks staff is customer friendly and competent and every customer is treated as a loyal customer. Major contact points of the bank of Punjab with its customers are
Account opening
Transfer of funds/Remittance
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Payment of Utility bills
Enchasing/exchanging instruments
Financing
Lockers
ATM
Whenever a customer comes in contact with the staff via any medium, the opportunity to develop a strong trustful and long lasting relationship is granted. The BOP staff is very efficient and competent in developing long term relationship with the customers. Average satisfaction is high and over the course of time every new customer becomes a loyal customer due to effect customer handling and facilitation.
The Bank of Punjab is an organization which values its customer and his participation. It has established a Customer Feedback System (CFS) in every branch in the forms of suggestions and complaints box and in the form of an online system on their website. The features of this system are as follows
The Customer Feedback System has been introduced to facilitate resolution of queries and complaints.
If you think that our services are not satisfactory
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You want to give any suggestion To get your feedback, the Customer Complaint Forms (Urdu & English) are available in all of our branches.
You can also write your complaints or suggestions on your letter head or ordinary paper with your contact details and drop them in Complaint Drop Boxes installed in every branch
You can also submit your query online at www.bop.com.pk Suggestion and complaints can be sent direct to External Customer Complaint Cell, Regional Operations Head operating in all the major cities or the chief manager at the mentioned addresses
16.2 Techniques of retaining customers
Customer retention is of utmost importance for any financial institution because without it the organization cannot even produce enough revenue to continuo operation. Without continuous inflow of funds the organization existence comes into question. Banking sector depends upon the mid to long term deposits for its surviving. These deposits are then injected into projected and loans and act as the primary source of revenue generation of the bank. If the bank cannot retain its customer over a long period of time, the bank will lose its primary source of income, lose its rating and credibility, share prices will drop tremendously become a defaulter, become a sinking ship to investors, and the State Bank of Pakistan will declare it a bankrupt organization.
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Since the major drop in the earrings of the Bank of Punjab in 2007, the management of the bank has realized its mistakes and improved them greatly. Now the BOP is using a customer oriented approach to battle the competition. The inflow and revenue of the Bank is increasing which means that the firm has again stood up on its feet. The customers are opting to stay with the organization. Customer retention is in focus.
16.3 Techniques of attracting new customers
Unfortunately, BOP does not rely on any of the marketing techniques. The marketing department of the organization is not using todays methods of attracting new customers. The promotional activates of the firm are nowhere to be seen. This weakness of BOP is affecting it largely and most of the new customers are opting for the competitors. As a commercial bank it should spread the word and increase the awareness its services.
But fortunately, Bank of Punjab is very popular among its target segment. With main focus on the agriculture, farming and mid tier businesses, the bank is offering one a kind service and superior value the clients. The long term deposits are offering better than the competition interest rates, large portfolio of products and services is catering to meet the needs of every customer, support and faith of the government in BOP is also sending good signals in the market.
The customers using BOPs service are loyal and act as agents of the bank. The word of mouth spreads the message about the great quality of the services of the bank. Also, many of the first time users of the banks services become long term customers.
58 The Bank of Punjab Internship Report 16.4 Ways of handling different kinds of customers
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The BOP staff is very customer friendly and patient; they face every kind of customer everyday with tolerance and professional attitude. Trouble making customers and are no different. Staff listens carefully to their arguments and queries and responds in a humble attitude. Guards are always present at the location if the situation gets out of control. Most of the clients realize their mistakes and misbehaviors after some time, and the humble attitude of the banks staff in this kind of situation strengthens their relationship with the customers
17. Critical Analysis
During the entire period of internship, I have observed that many of the theoretical concepts are not always applicable in the real life and true sense. Books speak of a perfect system in a perfect world. No such perfect organization exists, because no firm can operate in an absolute isolation. Every organization and institute and its discrepancies and strengths, but learning from mistakes and building on strengths is the only theoretical concept that is applicable everywhere and anywhere in its true essence. Critical Analysis is the most important part of any practice. It is just the same as overall experience of the exercise. This experience enable us to communicate the tangibles and intangibles of the exercise. During my course of internship I have experienced the following
Lack of Man power
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Unfortunately, there is a huge shortage of man power is the branch. All the employees have to attend to several matters single handedly. The situation is even worse in the Operations department, only two employees are handling the whole department.
Over load and work stress
Due to the shortage of hands, the employees of the branch face over load of work, time and supervisor pressure. This results in fatigues and increased absents.
Time Management
There is no specific time limit of the jobs. Official timings are from 9:00AM to 5:00PM but employees have to work long hours. Most of the time the, they leave at 7:00PM. Some of the time the work load is so much that they have to work for more than 12 hours. This not only affects the health but seriously damages the personal life of the employees.
System automation
Many of the procedures are still manual and not efficient at all. Filling forms and vouchers by hand is the wastage of resources and cumbersome.
60 The Bank of Punjab Internship Report Right person for right job
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I did not see this concept at the branch. Only the people working at the cash counter stay the same. All the other staff take turns to do different works. The employees of the Agri Department also handle consumer and corporate financing. Banking officers take turns to handle foreign trades.
Lack of communication
There is a clearly visible lack of communication between the employees of the branch. Many people take responsibility of performing the same work which results in work repetition. Sometimes the employees assume that someone might have has taken the responsibility of the work while the work remains pending.
Frequent Malfunctions and breakdown
The online system often crashes causing inconvenience for the workers and employees. The ATM system is also vulnerable to frequent malfunction. System and IT management is weak.
Customer problem
People have to wait for en-cashing their cheques for about 10-20 minutes, which is not good for the reputation of bank; the delay is due to manual work.
61 The Bank of Punjab Internship Report The BOSS concept
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Many a times I felt that the authority and power is exercised more than needed. Manager subordinate relations are not that strong and healthy.
18. SWOT analysis of the organization
18.1 Strength
Wide Network: The BOP branch network is scattered all over the country and every major city
Innovative products: the products like Pehly munafa and tractor financing schemes are innovative and attract new customers
Low cost: the banks operating cost is much less than the competitors Skilled workforce: The staff of BOP is efficient, committed and skilled Fast growth: the bank is growing rapidly and steadily after a major shock Product fit for target: the products launched by the bank are fit the target audience and become popular in a short period
Government Support: the government of Punjab shows faith in the BOP, and provides backup whenever necessary
Segmentation: BOPs has selected its target segments very carefully PLC: The product and services of BOP have a long life cycle and do not decline in a short time
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18.2 Weakness
Slow R&D: BOP management is very slow in developing and introducing new products and services
Remuneration: The remuneration packages are not according to the market Benefits: The benefits and increments offered by BOP are less than the competitors Lack of communication and trust: There is a lack of communication between the employees that leads to the trust issues
Advertising and promotion: The is a severe lack of advertising and promotion tools Lack of conflict handlings: conflict management and resolution techniques are deficient
Frequent development programs: Although BOP management tries to develop and train its employees but not everyone benefits from it.
Congested Space: the branches is small cities do not have enough space, space planning and management is also lacking
Lack of motivation: Employees are less motivated due to a number of reason mentioned above
18.3 Opportunities
Market development: BOP can extend its customer base by introducing more branches in various cities
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Product Development: Introduction of new products and service in other segments and markets (mobile banking, credit cards)
International Market: BOP can venture into the international market and extend its network
Aggressive Strategy: BOP can use aggressive marketing techniques to increase its market share.
18.4 Threats
Competitors: The competitive environment of the bank is very hostile and aggressive Privatization: Government being the major stock holder of the bank can release its share to some other party and stop supporting the bank
Economic instability: The economic condition of the country are not stable Political instability: political instability is also very dangerous for the bank as it is semi government organization.
Market share: BOP is losing its market share to the completion due to tradition banking practices
19. Conclusion
The Bank has recovered much faster after a major shock, now it is traveling on the road of success with a steady pace. It is contributing a lot towards the industrial development and mid tier segment of the Pakistans economy. Aside from the general banking, the development of the agriculture sector of Pakistan is a phenomenal objective
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which no other financial institution has yet achieved with such success. The Bank if Punjab has always strived to remain in the line of leading banks and has consistently shows steady growth in every aspect of its solutions. The vision and mission of the Bank of Punjab are a true image of its existence.
20. Recommendations for improvement

Awareness: Most of the target market is unaware of the banks product and services, BOP should act fast to increase customer awareness of its solutions Advertising Campaigns: The banks marketing department is not very active in promoting the banks products and services; it should develop launch effective advertising campaigns from time to time to remain in the target audience minds Products and services: BOP still resides on the traditional methods of banking; it should improve its products and services to fight the competition Conservative approach: BOP is using a very conservative approach for its credit lines, it should concentrate on advances more than deposits Authority: The employees of the bank should be empowered and delegation of authority should be provided to branches Work load: The pressure of work and shortage of time creates negative effects, BPOs management should provide adequate facilities and allocate sufficient staff according to the requirements of each branch Training and development: Frequent T&D programs will help in achieving the organizations goals in a much better way.
21. References
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22. Annexes
http://www.linkedin.com/companies/the-bank-of-punjab http://www.nift.com.pk/

The Bank of Punjab: Internship Report

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The Bank of Punjab

2 The Bank of Punjab Internship Report

Letter of undertaking here

3 The Bank of Punjab Internship Report

The Bank of Punjab

Visited Departments Accounts Department Remittance Department

4 The Bank of Punjab Internship Report

5 The Bank of Punjab Internship Report

6 The Bank of Punjab Internship Report

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8 The Bank of Punjab Internship Report

Overview of the organization

8.1 Brief History

8.1.1 Vision statement

"To be a customer focused bank with service excellence"

8.1.3 Message of the Punjab Government

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8.1.4 Core Values

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8.2 Nature of the organization

8.3 Product lines/Brand Portfolio

8.4 Branding Strategy

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8.5 Main Clients

8.6 Main competitors

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9.1 Organizational Hierarchy Chart

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9.1.1 Branch Hierarchy chart

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9.3 Introduction of departments

This department performs the following functions

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Officer 1st grade

Officer 2nd grade Officer 3rd grade Cash officer

Cheque Book Issuing

This depart of the bank handles agriculture loans and advances

9.3.4 Remittance Department

This department performs following functions

Demand Draft (DD)

Pay Order (PO)

20 The Bank of Punjab Internship Report Mail Transfer (MT)

Telegraphic Transfer (TT)

Tested Message (MT)

SDR (Security Deposit Receipt)

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9.3.3 Collection Department

OBC (outward Bills of Collection)

IBC (Inward Bills of Collection)

22 The Bank of Punjab Internship Report 9.3.4 Clearing Department

Within Bank Clearing

9.4 Structure type and its description

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10. Internship Program

10.1 BOP wapda Plaza Branch introduction

24 The Bank of Punjab Internship Report Mr. Sunny Fernandez ACO II

10.2 Departments visited by internee

11. Training Program

11.1 Operations of the visited Departments

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11.1.1 Accounts Department

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