I got a golden chance of internship in Askari bank khanewal branch. It was the first step of my professional life. Day before I have not got the experience of professional taste. Askari bank khanewal branch is situated at DAHA plaza on Markazi Jamia Masjid Chowk. The site is situated in very busy area of the city. That is why this branch has a competitive advantage over the other branches.
Starting and ending dates
I have done my internship of nearly eight weeks.
Followings are the starting and ending dates of my internship tenure.
Starting Date 30-03-2009 Ending Date 27-05-2009
The training schedule was divided weekly. Followings are the departments in which I got training during the internship.
Followings are the departments where I was given duties.
Account Opening department Cash Department
Account Department Remittance Department Clearing Department Credit Department Credit Card Department
Account Opening Department
In my first week in Askari Commercial Bank commercial bank, they assigned me work in Account Opening Department. Miss Farhana very nicely and I learned lot of things in this department. He told me different accounts names and their codes. How to open the account .
I. New Computerized national identity card is must for opening of new account. II. For current account 10,000 and for saving 5,000 are required.
III. What are the necessary requirements of different accounts to be opened. IV. Other activities are
V. How to fill the deposit Slip if anyone wants to transfer cash in the account or online transfer
VI. How to fill the different accounts Form
VII. How to fill the voucher for issuing of the Cheque Book for the first time VIII. How to fill the requisition slip for the second time issuance
IX. How to issue the Cheque Book
X. How to enter it in the register
XI. What are the procedures for the ATM card
Clearing Department
Second was the clearing department.
Responsibilities
There are two types of clearing.
1. Inward clearing 2. Outward clearing
I entered the cheques lodged for inward clearing in clearing register as their cheque number account holder name cheque amount and bank name amount to be paid. Secondly I prepared (O/W) clearing for next day. Same as entered cheque number
account holder name amount and Bank name. In this week I also entered cheque return in cheque return register and put cheque return slip on cheque.
CLEARING PROCESS
State Bank of Pakistan is a main clearing house. In those cities SBP is not available; SBP has assigned this duty to National Bank Of Pakistan. In clearing process the local cheques are received that are drawn on askari bank. All the cheques are received on one counter along with the paying slips duly filled in properly containing particulars of cheque and account holder. Counter folio of paying slip is handed over to the customer by putting stamp for cheque
received for collection for askari bank on it duly signed by officer. These cheques are scrutinized and cheques for local clearing are separated from OBCs. These are then entered in clearing register and cheques for collecting are entered in OBC register and handed over the bills department of collection. Clearing officer checks and verifies title of all the cheques deposited by the customer to confirm the good title of the cheques. Cheques are scrutinized properly and paying slips are separated from cheques. Special crossing,
endorsement and clearing stamps are affixed on the cheques. Cheques of each bank are sorted and arranged branch wise. All the cheques are then entered into the clearing system of bank. Print out of the clearing is taken and details are attached.
With the cheques of each bank, details of these banks are then entered into the clearing schedule containing number of cheques presented and their total amount against the name of each bank. Then total number of cheques presented to all banks and their total amount is written on the foot of that schedule, which is tallied with the clearing register.
Next morning, these cheques are delivered to the respective banks in clearing house of SBP between 10.00 AM. In the same manner, other banks present their clearing drawn on Askari bank. Total number of cheques and their amount delivered to other banks are received from them are written on the clearing house schedule and handed over to the officer clearing house SBP. Cheques / DD received in clearing are given to the officer cash department of the branch for their repayment. After I proper scrutiny of cheques, verification of signatures and confirmation of balance in
the account, officer cash department pays these cheque by canceling and posting them in the system.
If any cheque is not passed due to insufficient balance or any other reason, officer cash department returns the same cheque by attaching a cheque return memo containing reason for return. This cheque is entered into the cheque returned register and bank charges are deducted according to the schedule of charges.
Second clearing is called at 2:00 PM to check the fate of the cheques presented to other banks in the morning. If any cheque is to return, that is delivered to the same bank in second clearing. In the same manner, if any cheque presented by askari Bank in first clearing is returned, they receive it and once again give schedule of clearing figure to the officer-clearing house SBP containing number of cheques and their amount delivered and received unpaid.
In third week I perform following tasks relating to the banking system IBC (Inward bills for collection)
OBS (outward Bills for Collection)
REMITTANCES DEPARTMENT
Remittance department provides services to the customer of the bank. The main function of this department is transfer of funds.
INSTRUMENTS OF BILLS & REMITTANCE DEPARTMENT
The instruments that are handled in the B & R department are as follows: Demand Draft.
Traveller’s Cheque Telegraphic transfer. Mail transfer.