Performance Evaluation of General Banking of Trust Bank Limited

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Performance Evaluation of General Banking of Trust Bank Limited –

1.0 Introduction

1.2 Background of the Report:

This report covers all the trade related it is obvious that the world around us is changing rapidly. Few years’ back, the things were quite different than they are today & there is no doubt few years later the things would be even more different than they are today. The world of business is a great example of this change. Now the competition is in its full speed, the customers have become more intelligent. Moreover, they are having more options; so there must be a continual striving to improve all business & production process to develop the customer delight rather than just to meet their expectation

This repot is a part of the Masters of Business Administration (MBA) degree that provides an on-the-job experience to student. I was placed at Trust Bank Limited, Comilla Cantonment Branch as an internee for three month duration. This program was my very first on-the-job exposure and provided me with learning experience and knowledge in several areas. During the first few weeks of my Organizational Consulting period, I was able to get accustomed to the working environment of Trust Bank Limited. As the internship continued, I not only learned about the activities and operations of correspondent Bank, but I also gathered some knowledge product handled by the ‘‘ Trust Bank Ltd’’ such as Cash Department., Dispatch, Account Opening, Remittance, FCAD, Credit Department, Foreign Exchange etc.

1.3 Origin of the report:

Now a day, education is not just limited to books and classrooms. In today’s world, education is the tool to understand the real world and apply knowledge for the betterment of the society as well as business. From education the theoretical knowledge is obtained from courses of study, which is only the half way of the subject matter. Practical knowledge has no alternative. The perfect coordination between theory and practice is of paramount importance in the context of the modern business world in order to resolve the dichotomy between these two areas. Therefore, an opportunity is offered by The University of Islamic University of Chittagonj, Dhaka Campus (IIUC) its potential business graduates to get three months practical experience, which is known is as “Internship Program”. For the competition of this Organizational Consulting program, the author of the study was placed in a bank namely, “Trust Bank Limited”. The Program brings a student closer to the real life situation and thereby helps to launch a career with some prior experience.

This paper is entitled “General Banking Operation and Performance Evaluation of Trust Bank Limited” originated from the fulfillment of the MBA program. For the internship program, each student is attached with an organization. My Organizational Consulting Program was at Trust Bank Limited, Comilla Cantonment Branch. During my program, I had to prepare a report under the supervision of Md. Abdullah Raihan the Department of Business Administration, The University of IIUC, Dhaka Campus.

1.4 Reason for Choosing TBL:

Internship program brings to me closer to the real life situation and thereby helps to launch a career with some prior experience. Specially banking sector fulfills the needs like that. When I complete my OCP program I can gather some knowledge, which will help me in future to doing something creative. These are as follows:

• Introduce with a new culture, which is totally different with the life of student.
• Evaluate with the others’ potential.
• Being to present me with the world of communication.
• Get some practical experiences and gather some knowledge which is very important for carrier building.
• Finally motivated toward job and skills.
• So for this reason, I choose banking, as an organization who can provide me the brilliant future in my near, coming life to fill my gap of skills.

1.5 Objective of the Report:

Every report has an objective. The objective of the internship program is to familiarize students with the real business situation, to compare them with the business theories & at the last stage make a report on assigned task. Objective of this report is given below:

• To complete the partial fulfillment of the requirement of Masers of Business Administration (MBA).
• To know about the basic Banking system.
• To know the general banking activities of trust bank.
• To apprise the principal activities and evaluate performance of The Trust Bank Ltd.
• Provide an idea about the banking sector of Bangladesh.
• The system of their accounts maintaining
• To know about Loans & Advances.
• The procedures of giving loan.
• The procedures of earning interest.
• To know about the FCAD Department of Trust Bank Limited.
• Present an overview of Trust Bank Limited.
• Measure the actual position of Trust Bank Limited.
• Identifying problems and recommend suggestions for the successful Leading Operation of Trust Bank Limited.

1.6 Scope of the Report:

The reports cover the Banking service to the customers especially the general banking and customer service of Trust Bank Ltd. This report has been prepared through extensive discussion with Bank employees and also with the customers.

The study was kept limited to the Comilla Cantonment Branch of Trust Bank Ltd. This Bank deal with all types of general Banking operations, foreign exchange and investment operations according to the rules and regulations provided by the Bangladesh Bank.

1.7Sources of Information:

To do all these things I have to need many kinds of data. I have collected these data from both primary and secondary sources

1.7.1 Primary sources:

Primary sources of the data collections were-

• Direct observations
• Face-to-face conversation with both the clients and the staff
• Obtaining responses from the clients and managers through questionnaire.
• Data regarding the types of product offered to the clients and the description for each of the product were also gathered through interview
• Besides, on-the-job experience has also helped me learn quite a few things about the correspondent Banking Department and the organization as well.

1.7.2 Secondary sources:

Required information or data were collected mainly form the secondary sources. The sources are:

• Brochures
• Difference text books,
• Term papers of TBL Training manuals,
• Transaction in foreign Exchange,
• General Banking Operation manual of the organization helped me to gather data about the organization.
• Data have also been collected by going through different circulars issued by the head office and Bangladesh bank during the tenor of the internship.
• Islamic University of Chittagonj, Dhaka Campus.
• News Paper
• Web sites
• Various files and documents of Trust Bank Ltd

1.8 Methodology:

The methodology of the report is to collect data from primary and secondary sources of information .For collecting data we have used the following method:

• Face to face interview.
• Questionnaire survey of Clint of Trust Bank Ltd
• Discussion with the seniors and friends
• Book reference Collect data from Internets and magazines.
• Discussed about the report with Head of the Department.
• Also some other important tools

1.9 Limitation:

The present study was not out of limitations. But it was a great opportunity for me to know the banking activities of Bangladesh specially “Trust Bank Limited” Some constraints are appended bellow-

• Lack of adequate primary and secondary information.
• Up-to – date information were not available

The main constraint of the study is inadequate access to information, which has hampered the scope of analysis required for the study. As it is a new could not start all its operation, it was unable to provide some formatted documents data for the study.

Due to time limitations, many of the aspects could not be discussed in the present report.

Every organization has their own secrecy that was not revealed to others. While collecting data i.e. interviewing the employees, they did not disclose much information the sake of the confidentiality of the organization.

I have not any previous experience of writing this type of report based on General Banking Operation

Company Overview

2.1 Background of “Trust Bank Ltd.”:

Trust Bank Ltd is a private commercial, scheduled Bank, which obtain license from Bangladesh bank on July15, 1999. Presently Army Welfare Trust is the major shareholder. The authorized capital pf the bank is Taka two thousand million. Public share are expected to be floated in the near future. The bank was formally inaugurated and listed as a scheduled Bank on November 1999.

The idea of setting up a Bank by Bangladesh Army was first conceived in 1987 an on November 29, 1999 the first branch of the Trust Bank Ltd came into operation. Composition of the Board of TBL consists of Ex-official Directors of in-service senior Army personnel, with the chief of Army Staff as its Chairman and the Adjutant General as its Vice- Chairman.

In 2001, the bank introduced automated branch banking system to increase efficiency and improve customer service. In the year 2005, the bank moved one step further and introduced ATM services for its customers.

Since bank’s business volume increased over the years and the demands of the customers enlarged in manifold, their technology has been upgraded to manage the growth of the bank and meet the demands of our customers.

In January 2007, Trust Bank successfully launched Online Banking Services which facilitate Any Branch Banking, ATM Banking, Phone Banking, SMS Banking, & Internet Banking to all customers. Customers can now deposit or withdraw money from any Branch of Trust Bank nationwide without needing to open multiple accounts in multiple Branches.

Via Online Services and Visa Electron (Debit Card), ATMs now allow customers to retrieve 24×7 hours Account information such as account balance checkup through mini-statements and cash withdrawals.

Trust Bank is about to introduce Visa Credit Cards to serve it’s existing and potential valued customers. Credits cards can now be used at shops & restaurants all around Bangladesh and even internationally.

In addition to ensuring quality, customer service related to general banking the bank also deals in Foreign Exchange transactions. In the mean time the bank has expended credit facilities to almost all the sector of the country’s economy. The bank has plans to invest extensively in the country’s industrial and agricultural sectors in the coming days.

It has also planned to promote the agro-based industries of the country. The bank has already participated in syndicated loan agreement with other bank to promote textile sectors of the country. Such participation would continue in the future for greater interest of the overall economy. Keeping in mind the Clint’s financial and banking needs the bank is engaged in constantly improving its services to the clients and lunching new and innovative products to provide better service towards fulfillment of growing demands of its customers.

In order to provide up-to-date information on the bank at finger trips to the trade and business communities of the world, their own IT team has developed an E-mail address and a web page for the bank. It can be accessed to under the domain:tbl@globalbd.net and www.trustbankbd.com.

Trust Bank is a customer oriented financial institution. It remains dedicated to meet up with the ever growing expectations of the customer because at Trust Bank, customer is always at the center.

2.2 Milestones in the development of TBL:

There have some milestones in the development of Trust Bank Limited (TBL) which is also known as corporate information at a glace, which are as follows:

• 1987- The idea of set up a Bank by Bangladesh Army was conceived.
• 1999- 15^th July, received Banking license
• 1999- 15^th July, obtain permission from government to operate as a private commercial Bank
• 1999- 17^th July, received certificate of incorporation.
• 1999- 5^th August, received first branch license
• 1999- 29^th November, listed schedule and inauguration Bank
• 2006- 12^th November, Changed name and logo from “The Trust Bank Limited” to “Trust Bank Limited”
• 2006- 3^rd December, Approved as a Joint Stock Companies
• 2006- Introduce Retail Banking
• 45 number of branches
• Army welfare Trust is the main sponsor shareholder
• SMS Banking services
• Online Banking services
• Locker services
• Involvement in share market
• Phone Banking Service
• Merchant Banking

2.3 Objectives:

There are some objectives of this bank, which are as follows:

• To establish, maintain, carry on, transact, undertake and conduct all types of banking, financial, investment and trust business in Bangladesh and abroad.
• To form, establish and organize abroad any bank, company, institution, organization, either single or joint collaboration for partnership with any individual, bank, company, institution, organization, or any other government agency for the purpose of carrying of business, financial investment or any other business as provided hereafter.
• To carry on any business relating to wage earners scheme as may be allowed by the Bangladesh Bank from time to time including maintaining of foreign currency accounts.
• To conduct or negotiate all kinds of loan and assistance, private or public, from any source, local and foreign, and to take all such steps as may be required to complete such deals.
• To form, promote, organize, participate and aid in forming, promoting, organizing any bank, company, institution, organization, or any holding company in Bangladesh and abroad for the purpose of undertaking any banking, financial and investment or trust business.
• To purchase, or otherwise acquire, undertake, the whole or any part of or any interest in the business, goodwill, property, contract, agreement, right private assets and liabilities of any other company, bank, corporation, partnership, body person or person carrying on or
• Having ceased to carry on, upon such term and may be deemed expedient.

2.4 Missions:

There have some missions of Trust Bank Limited, which are as follows:

o To establish Trust Banking through the introduction of new products and schemes.

o To establish Trust Banking through the introduction of a weal fare oriented banking system.

o Achieving sound and profitable growth in Assets and Liabilities.

o In the field of all economic activities to ensure equity and justice.

o It’s achieving balance growth and equitable development through diversified investment operations.

o To build long lasting credible and mutually dependable relationship with

Customers.

o Efficiently managing interest and operating costs.

o To encourage women entrepreneur and development.

o Superior customer services.

o To be the preferred employer among Banks in Bangladesh.

o To be the strong organized administration in the country.

o To encourage social economic development and financial services low income community in the rural area.

2.5 Visions:

There have some vision of Trust Bank Limited, which are as follows:

• To Establish and maintain the modern banking techniques
• Always try to provides a superior services
• To build a sustainable and respectable financial institutions
• To be a leading commercial bank
• The profit of the bank used for the socio-economic development of the member of the Bangladesh Army thereby the nation as a whole
• To be the strong and efficient organization with highly motivated professionals, working for the people, based upon accountability, transparency and integrity.

2.6 Strengths:

• Sponsored by Bangladesh Army, the largest and most organized group in Bangladesh.
• Well-capitalized Bank with potential to increase capital base.
• Homogenous Board of Directors.
• Computerized customer services.
• Customer’s faith as a stable dependable Bank.

2.7 Opportunities of TBL:

• Public confidence as a financially stable Bank, backed by the Bangladesh Army.
• Control and monitoring of the borrowers can be handled in a more consolidated manner. Less opportunity of bad debts.
• Securities markets minimize risk factors.
• Support from sister organization.
• More commercial branches.

2.8 Brand:

Trust Bank Limited recently at the end of the year 2006 changed their name from “The Trust Bank Limited” to “Trust Bank Limited” and also changed their logo bring the bank more closely to the general public.

2.8.1 Objectives of the new brand are given below:

• Strengthen unity of the employees and give as great sense of identity.
• Link our product with our people.
• Recognize that we touch people’s lives where they live.
• Recognize that we are changing with time.
• Demonstrate trust bank dedication to great brand that help people look, feel; good, and get more out of life. Distinct look and feel and modern identity.
• Single minded identity (one brand philosophy).
• Connecting with general public as a modern consumer oriented bank with strong foundation.

2.8.2 Why the new brand?

• 45 branches
• The branch has been hiding (confuse with mutual trust bank and only bank for army or defense people)
• It has been widely used among the employees and the products.
• It is timely and to raise the understanding of the brand portfolio- convey trust and belief in all our products as symbol of strong foundation, sense of security and confidence.
• Trusted range of banking products for every lifestyle needs.

2.9 Functions of Trust Bank Ltd:

Some general functions of Trust Bank Limited are as follows:

• Mobilization of savings of the people earning and safe keeping of all types of deposit account.
• Making advances, especially for productive activities and generally for other commercial and socioeconomic needs.
• Providing banking services to common people through the network of branches.
• Handling of export and import trade and foreign remittances and with especial support to export activities.
• Introducing modern banking services in the country.

2.10 Support function

Support functions are vital to the efficient running of the bank; vital to competitive success; and vital to delivering customer satisfaction.

The disciplines that support the business include:

• Finance – Monitoring performance to ensure we are on track.
• Risk Management – Protecting the banks business by identifying, assessing, and mitigating risks.

• Human Resources – Helping managers improve performance through people.

• Corporate Affair – Working with employees, government, and media to maintain and enhance there reputation.

• Legal and Compliance – Ensuring that the way they do business is fair and ethical.

2.11 Management Information System (MIS) of TBL:

The Management Information System (MIS) of Trust Bank Limited is at developing stage. The Bank is currently using MIS report only for customer account related information and Bank financial position. The bank recently introduce online banking services at front office operations which facilitate any Branch Banking, SMS Banking, ATM Banking, Phone Banking, and internet Banking to all customers. Except one, all branches of the bank recently are using centralized Banking software for their daily transaction processing and routine reporting. Credit risk management is also available in the centralized banking software. The bank has a disaster recovery site (DRS) in place replicating the data center and its DR site is equipped with compatible hardware and telecommunications equipment to support the live systems in the event of any disaster. Yet the Bank is to develop modern MIS for use of management and other offices for timely availability of vital data for planning and decision making purposes at the appropriate time to augment profitability.

2.12 Product profile & service:

Trust Bank Limited provides several deposit credit facilities to the customers. It offers different interest rate for different deposits and schemes. It also provides some products to encourage the people toward savings. They offer mainly two ways of providing their services which are:

Trust Bank Limited offers full range of banking services that includes:

q Deposit Banking

q Loans and Advances

q Export & Import.

q Financing(inland)

q International Remittance facilities.

The offers a full scale commercial Banking services includes:

• Retail Banking
• Foreign Exchange
• Personal
• Credit
• Consumer & Corporate Banking.

The main product & service profile Of Trust Bank Limited are shown in the following chart:

Product & service profile

Investment scheme

Deposit Scheme

Travel & transport Scheme

Saving Ac

SME Business Investment Schemes

Fixed Deposit scheme

Car Investment Scheme Housing Investment scheme

Marriage Scheme Education Investment Scheme

Any Purpose Scheme Advance Against salary Scheme

CNG Conversion Scheme Doctor’s scheme

Hospitalization Scheme

2.13 Major division of TBL:

Trust Bank Limited they operate there are smooth operation by the different division. Through these divisions all of the banking activities are maintain properly. The underline chart I shown the major divisions of Trust Bank Limited:

CHART: Major Division of TBL

Division of TBL

Human Resource Department Research & Planning Development & Marketing

Information Technology Central Account Audit & Inspection Training centre

Foreign Exchange Service Loan & Advance General Service

Import Business credit A/C Opening & Closing

Import Business Retail Banking Dispatch

Foreign Remittance Local Remittance Clearing Section

Financial Control & Account department (FCDA) Cash Department

2.14 Management hierarchy:

The Management Hierarchy or Organizational Structure of Trust Bank Limited is shown in the following chart:

Management Hierarchy

2.15 Board of director:

The complete management team of TBL is as the following chart:

2.16 Branch network For General Banking:

The Branch network of the Trust Bank Limited is quite strong. With an age of only nine years the bank is now having a network of 40 branches across Bangladesh. These branches are situated at various strategically important commercial and industrial locations in the country. All of these are good position rather than other Bank. The Branches Network of Trust Bank Limited is shown in the following chart:

Forty Five Branches of Trust Bank Ltd. is located in the following areas:

2.17 SWOT Analysis of the TBL

2.21 Address of the TBL:

HEAD OFFICE

Peoples Insurance Bhaban (2^nd, 16th & 17^th floor)

36, C/A, Dilkusha Commercial Area

Dhaka-1000

Phone-9570261, 9570263, 9572012-3

Fax-880-2-9572315

Cables-Trust Bank S.W.I.F.T

E-Mail-tbl@global-bd.net

Web- http://www.trustban

3.0 What is Bank?

Bank can be defined as an organization that provides financial services, for example keeping and lending money. It does not have its own working fund. Bank builds up its working fund by way of accepting deposits from the public, where in bank’s position is that of a debtor and on the other hand bank invests major portion of working fund of loans and advances to the public with the object of financing trade.

The maximum satisfactory services it can render to the customers the maximum amount of working capital it can build up and invest. We can therefore, define bank as a service industry. Customer’s satisfaction is the keystone around which all operations and expansion of a bank revolves. The quality of service and success of a bank depends upon some determinants such as:

• Behavioral pattern of the Top Management
• Training and Re- Orientation
• Selection of Personnel
• Motivation of employees
• Systems and procedures
• Physical and social Environment
• System of Reward and punishment
• And above all the quality of the BranchManager.

Banking function:

There are three types of basic functions, which are deal in the Banking business in this branch. For each type of function there are individual departments, which are as follows:

• General Banking Department
• Loans and Advances Department
• Foreign Exchange Department

3.1 General Banking Function:

General Banking Division is the most important point of all activities. It is the storage points for deal all kind of transaction like foreign exchange division, loan and advance and itself.

General Banking department is generally deals with the following department with their operations.

• Account opening department
• Cash department
• FDR department
• Products & schemes
• Dispatch department
• FCAD
• Remittance department
• Clearing department

General Banking Function is given below:

3.1.1 Account opening department:

This section deals with opening of different types of accounts. It also deals with issuing of cheque book and different accounts opener. A customer can open different types of accounts through this department. To establish a Banker and customer relationship Account opening is the first step. Opening of an account binds the Banker and customer into contractual relationship. But selection of customer for opening an account is very crucial for a Bank. Indeed, fraud and forgery of all kinds start by opening account. Therefore, the Bank takes extremely caution measure in its selection of customers.

Function of Account Opening Department:

This department provides lots of services; we can call these services as a function of this department, which are as follows:

• Opening Various Types of Account Customer service to provides their account information include balance information
  • Provide bank statement
  • Provide bank solvency or bank certificate.
  • Provide new cheque book
  • Account Close
  • Transfer account
  • Opening SMS Banking service
  • Opening Internet Banking service
  • Phone Banking service
  • Online banking service
  • ATM Banking service
  • Debit and Credit Card service
  • Stop payment service

Types of Account:

A bank has to maintain difference types of accounts for different purposes. Trust Bank Limited (TBL) offers the general deposit product in the form of various accounts, which are as follows:

· Saving Account

· Current Account

· Short Term Deposit Account (STD)

3.1.1.1 Saving Account:

It is an assortment of the best benefits available in the market, offering a wide range of special treats free of cost to our retail customer. The most attractive treat is the competitive tiered interest rates, which ensures higher returns for larger deposits. Saving bank deposit is popular account maintained in banks. The different matters

Relating SB account is described in the following discussion. The summary of the rules and regulations to open a saving account are as follows:-

• Any person or persons of more than 18 years having sound mind can open and operate this account single or jointly.
• In case of a minor (a person below 18 years), a guardian can open and operate this account on his or her behalf.
• Clubs, Societies, Sole Proprietorship firms, Partnership firms, Limited Companies either public or private and other similar organization are refillable to open such account.
• More than one account cannot be opened in the same name.
• A minimum initial deposit of Tk.2000 is required to open such account.
• Money will be withdrawn through cheques. Withdrawal cannot be more than twice a week and generally the amount will not be more than 25% of the balance available, subject to maximum Tk.20, 000.
• The account holder must have minimum Tk. 1000 balance.
• In case of closure of any account, the bank deducts Tk.100 as closing charge.

3.1.1.2 Current Account:

A Current Account is running and active account. Holder of such account can freely deposit or withdraw money any times. This account is fully interest free account. Most businessmen maintain Current Deposit account in order to make their daily business activities. This account’s fund change most frequently then any other account because customers use to withdraw and deposit fund in regular basis. The summary of the rules and regulation to open a current account as follows:

• A minimum deposit of Tk.1000 is needed to open a current account.
• The bank charge an incidental charge of Tk.50 for every 6(six) months for the maintenance of the account.
• In case of the closure, the bank charge Tk.100 as closing charge of the account.
• Current Account is interest free account.
• The account holder must have minimum Tk. 2000 balance
• Withdrawal of money is allowed only through the levels of the cheque book, Issued by the bank.

3.1.1.3 Short-Term Account (STD):

Short-Term Account opens only for short time notice. This account especially open for business purpose. STD Account have lower interest rate is 4%. The deposited amount will be withdrawal only the completion of period. There are some regulations of STD account are as follows:

• The deposit held of these accounts shall be payable on short notice
• STD account shall be opened with a minimum balance of Tk.only 5000
• The interest rate of STD account is 4%.
• Accounts are suitable for the firms, corporation, and public bodies etc., which have excess fund for their disposal for a short time.

Requirement of Opening an Account:

To open a savings, current, STD account, the following documents are mandatory:

a) For Individual Account:

Two copies of Passport size Photograph of the Clients (Attested by introducer or Verified with Passports).

• Passports/ Nationality Certificate/ Employer’s Certificate of the Proprietor.
• Customer Profile.
• Transaction Profile.
• Photograph of the Nominee(s) attested by the account holder.
• TIN Certificate.

b) For Joint Account:

· Passports/ Nationality Certificate/ Employer’s Certificate of the Proprietor.

· Customer Profile.

· Transaction Profile.

· Photograph of the Nominee(s) attested by the account holder.

· TIN Certificate.

· Relationship between the account holders.

· Purpose of opening of the joint account

c) For Proprietorship Account:

Two copies of Passport size Photograph of the proprietor (Attested by introducer or Verified with Passports)

• Passports/ Nationality Certificate/ Employer’s Certificate of the Proprietor.
• Customer Profile.
• Transaction Profile.
• Photograph of the Nominee(s) attested by the account holder.
• TIN Certificate.
• Trade License.
• VAT Registration (if available)

d) For Partnership Concern:

Two copies of Passport size Photograph of each partner (Attested by introducer or Verified with Passports)

• Passports/ Nationality Certificate.
• Company Profile.
• Transaction Profile of the concern.
• Personal Profile of the partners.
• Photograph of other Nominee(s) attested by the account holder.
• TIN Certificate.
• Trade License of the concern.
• VAT Registration (if available)
• Relationship between the partners.
• Resolution regarding opening and operation of the account.

For Company Account:

Attested or Certified copy of the Memorandum and Articles of Association.

• Certificate of Incorporation.
• Certificate of commencement of Business.
• Two copies of Passport size Photograph of all Directors (Attested by introducer or Verified with passports)
• Passports/ Nationality Certificate of all Directors of the company.
• Profile of the Company.
• Company Profile.
• Personal Profile of all Directors as per enclosed sheet in the company’s letterhead pad.
• Trade License.
• TIN Certificate.
• VAT Registration (if available)
• Board resolution of the company regarding opening and operation of the account.

e) Minor’s Account:

• Putting the word “MINOR” after the title of the account (with red color).
• Recording of the special instruction of operation of the account.
• The AOF is to be filled in and signed by either the partner or the legal guardian appointed by the court law and not by the minor.

f) For Private School/College/Madrasa:

• Attested or Certified copy of the Constitution.
• Registration Certificate.
• List of all Executive Member (as per enclosed format).
• Two copies of Passport size Photograph of the account operators (Attested by introducer or Verified with Passports).
• Passports/ Nationality Certificate of the account operators.
• Personal Profile of all members of the governing body and Managing Committee.
• Board resolution regarding opening and operation of the account.

g) For Club-society/Co-operative Account:

• Registration Certificate from the Joint Stock Company/ Ministry of Social Welfare.
• List of all Executive Members (as per enclosed format).
• Board resolution as per Memorandum regarding opening and operation of the account.
• Attested or Certified copy of the Constitution/ Bylaws.
• Two copies of Passport size Photograph of all Members (Attested by introducer or Verified with Passports).
• Passports/ Nationality Certificate of all Members.
• Profile of the Firm.

3.1.2Cash department:

There is several numbers of counters work simultaneously in cash section of TBL Comilla Cantonment branch. There are also some electronic counter machines in the cash section by which a huge amount of cash money can be counted within a few minutes. Cash department is the mother section of all departments because all of departments come to here for opening any scheme by receipt or payment cash through clients.

3.1.2.1 Function of cash department:

There are some functions of cash department which are as follows:

· Cash Receipt

· Cash Payment

· Issuing of Cheque

3.1.2.2 Cash receipt:

The work of cash receiving counter is examining deposit slips. Depositors will use the prescribed deposit slip supplied by the bank to deposit cash, check, draft, pay order etc. In all types of deposit the teller must check the following things:

The slip has been properly filled up.

• The title of the account and its number.
• The amount in figure and in words in same.
• Date of the instrument.
• Signature of depositor.
• And also they must check the money by their machine.
• After checking all things the teller will accept cash, check, draft, pay-order etc. against deposit slip. The teller will place the cash drawer according to denominations. The teller will place sing and affixes received cash, rubber stamp, and return the customer copy to the customer.

3.1.2.3 Cash Payment:

In order to safe guard of banks position, the paying banker has to observe the following precaution before honoring a check:

• A check must be looked whether it is an open or closed check.
• The paying officer looks whether the check is post or pre-dated. Because a teller must not pay any postdated check.
• The officer must carefully check the check the cheque number.
• The officer must compare the signature of the cheque with the signature on the specimen signature card.
• The officer must verify the regularity of the endorsement.
• The officer may allow overdue against a cheque if prior arrangement is done with the bank.
• Most important, the officers at first search the account of their software, to know about the sufficient balance of that account.

3.1.2.4 Issuing of Cheque:

If the cheque has no defect and it is payable, the in charge will sing in the cheque affixing signature verification seed along with his or her initial and will cancel the cheque by striking it by pen. The officers will handover the payment to the appropriate payee.

Reason of dishonor of cheque:

For some reason the cheque will be dishonor to pay cash, which are as follows:

• Insufficient Fund
• Not arrange for.
• Effect not cleared, may be presented.
• Exceed arrangements.
• Full Cover Not Received.
• Payment stopped by drawer.
• Payee’s endorsement irregular\illegible\required.
• Payee’s endorsement irregular, required bank’s confirmation.
• Drawers, signature differs/ required.
• Alterations in date/ figure/words require drawer’s full signature.
• Cheques are post dated/ out of date/mutilated.
• Amount in words and figure differs.
• Crossed cheque must be presented through a bank.
• Clearing stamp requires cancellation.
• Addition to bank discharge should be authenticated.
• Cheque crossed “Account Payee Only”.
• Collecting Bank’s discharge irregular/ required.

In TBL the cash payment done in the following two ways:

Payment through Cash:

Clients give their cheques with their signature. These signatures are justified with specimen signature cards. If these signatures are correct, then A/C numbers are posted into the computer and required balances are given to them after checking that they have sufficient balance it their accounts.

Payment through Transfer:

This transfer is made through account, not in cash. In this process the officer attach a transfer sill to the deposit slip and the posted the transfer balance the desired account. According this time the amount will be posted, as clearing balance after completion of clear house the amount will adjust to the account.

3.1.3 FDR department:

FDR department is one of the departments in Trust Bank Limited, which department handle two products which are as follows:

3.1.3.1 Fixed Deposit Receipt (FDR):

Fixed deposit receipt is that which opened for a fixed period. The rate of interest against the FDR is fixed which the bank will pay from time to time. The interests of FDR are varying on the basis of the scheme. FDR is very good scheme of deposit account because in Trust Bank they provide loans against the FDR (80%). The bank allows people to keep their idle money secured and profitable as Fixed Deposit.

The interest rate that the bank offers to the fixed depositors is as follows:

The Bank deducts the Excise duty, the compulsory levy of the government, on the

Interest earning in the following structure:

SOURCE: From interview with the In-charge of FDR department of Trust Bank Ltd.

Afferent Provision:

For FDR minimum period is 01 m