1.1 Introduction

As a student of MBA everyone has to conduct a practical orientation in any organization

for fulfilling the requirements of the 12 weeks Internship Program. The main purpose of

the program is to expose the students to the real world situation.

This report is done as a partial requirement of the internship program for the MBA

students. This report is prepared for the internship program consisting of a major in-

depth study of the total banking of Jamuna Bank Ltd. Practical knowledge is fundamental

for the application of theoretical intelligence. Bearing this in mind, internship program

was being included in the MBA curriculum. The goal of this analysis is to expose the

student in the organizational work situation and also to provide an opportunity for

applying classroom learning in practice considering the differences between theories and

practice.

General Banking practices in our country are not ancient. After Independence, financial

institutions of East Pakistan have been merged to public limited bank. Government

owned banks failed to progress and support economic activities of the country, since

1990 private limited banks started to emerge. It has been almost 15 years, and now the

scenario is of four state-owned commercial banks, five specialized banks, thirty eight

private commercial banks, one land development bank and nine foreign commercial

banks. The growth of private sector banking is rapid. Because of flow of capital,

accountability, service quality and lack of corruption has made the private banks popular,

customer friendly, moreover they have successfully managed credit-portfolio which

helped both the banks and the end clients. Stock market achievement, easy profitability

has made the life of the private banking cherishable. But, Lots of individual banks

entered the market, it became competitive, and Government became skeptical due to

some loan fraudulency and money laundering. This background is not old, hence,

Banking now a days has became dynamic and more than competitive.

Jamuna Bank Limited is a private commercial bank. The Bank has been established at

2001 and now it has 97 branches over the country. It expresses itself as a brand of third

generation. Being a third generation bank, It has been expected that the Bank's

management standards will be up to the task, Customers are well served and employees

are also satisfied with the reward system.

The Branch of Dilkusha is literally a semi corporate branch. The client base, turnover,

employee portfolio and activities agree that statement. But, it has been found that the

management practices of this branch, with internal and external customer satisfaction is

not good enough. As the branch is a key contributor and held as an standard branch of

JBL culture, It is clear that, other branches performances in banking is almost as same or

low than this branch, Hence, This branch portrays the practices of Jamuna Bank itself.

An analysis has been done to prove that, the measures of total quality management have

been taken consideration to evaluate the branches management standards. 15 samples are

being observed in interview based on questionnaire to test hypothesis regarding

satisfaction.

There are plenty of reports on general banking in Bangladesh; Majorities of them are of

internship basses. But, Evaluating a Branches management practices is recent research

problem, conducted here. In addition, in other country there are works related employee

and customer satisfaction of the bank but, unfortunately, in our country this work is one

of the fewest among them.

For, the further proceedings, a widely discussed literature review have been added to

convey the discussions of various topics that were analyzed later. Real life

recommendations were given to improve the gaps of the Branch.

1.2 Literature Review:

General banking is the starting point of all the banking operations. It is the department,

which provides day-to-day services to the customers. Every day it receives deposits from

the customers and meets their demand for cash by honoring cheques. It opens new

accounts, remit funds, issues bank drafts and pay orders etc. Since bank is confined to

provide the services every day, general banking is also known as „retail banking‟ (Samia,

2013).

A management system describes the set of procedures an organization needs to follow in

order to meet its objectives. In some small organizations, there may not be an official

system, just "our way of doing things” that is mostly kept in the heads of the staff. But

the larger the organization, the more likely that procedures need to be recorded to ensure

everyone is clear on who does what. This process of systemizing how things are done is

known as a management system ( ISO. Org).

Leadership may be defined as „a process whereby an individual influences a group of

individuals to achieve a common goal‟ (Northouse, 2010, p. 3). Further, Kelloway &

Barling (2010) define leadership as a process of social influence that is enacted by

individuals in formal positions of power or leadership positions within an organization,

such as managers and supervisors. Although leadership is not confined to individuals in

formal leadership positions, it is argued that these individuals may have a particularly

wide remit of influence within an organization (Kelloway & Barling, 2010).

The quality council should be the first organizational step toward quality improvement

(Hamel, 2013). Values are the outcome of choice, as well as the underlying forces which

influence those choices ( Raia, 1988). Consumer Satisfaction Process can be depicted in

the following steps (Engel, Blackwell et al. 1995): • Need recognition – realization of the

difference between desired situation and the current situation that serves as a trigger for

the entire consumption process. • Search for information - search for data relevant for the

purchasing decision, both from internal sources (one's memory) and/or external sources. •

Pre-purchase alternative evaluation - assessment of available choices that can fulfill the

realized need by evaluating benefits they may deliver and reduction of the number of

options to the one (or several) preferred. • Purchase - acquirement of the chosen option of

product or service. ”Life cycle approaches to sustainable consumption”, AIST 3 •

Consumption - utilization of the procured option. • Post-purchase alternative re-

evaluation - assessment of whether or not and to what degree the consumption of the

alternative produced satisfaction. • Divestment - disposal of the unconsumed product or

its remnants.

Most often employee engagement has been defined as emotional and intellectual

commitment to the organization (Baumruk 2004, Richman 2006 and Shaw 2005) or the

amount of discretionary effort exhibited by employees in their job (Frank et al 2004).

Thus, according to Kahn (1990), engagement means to be psychologically as well as

physically present when occupying and performing an organizational role.

Kaizen (Kai do, change, and Zen well) is a kind of thinking and management; it is a

philosophy being used not only in management field but also in the everyday life in

Japan. It means gradual and continuous progress, increase of value, intensification, and

improvement (Karkoszka and Szewieczet, 2007). It is translated in the west as

ongoing, continuous improvement (CI) (Malik et al., 2007). The phrase “CI” is associated

with a variety of organizational developments including the adoption of “lean

manufacturing” techniques, total quality management (TQM) employee involvement

programmers, customer service initiatives, and waste reduction campaign. It is the

“accompany–wide process of focused and continuous incremental innovation” (Bhuyan

and Baghel, 2005), “small incremental changes in productive processes or in working”

practices that permit an improvement in some indicator of performance (Garcia et al.,

2008). The main focus of CI on three key notations as indicated by Brunet and New

(2003)

Neely et al. “Performance Measurement is a topic often discussed but rarely defined”.

Following their comment concerning definitions, Neely et al. [9] went on to propose

definitions of performance measurement, a performance measure and a performance

measurement system. These were: “Performance measurement can be defined as the

process of quantifying the efficiency and effectiveness of action.” “A performance

measure can be defined as a metric used to quantify the efficiency and/or effectiveness of

action.” “A performance measurement system can be defined as the set of metrics used to

quantify both the efficiency and effectiveness of actions.

Benchmarking as a continuous and systematic process of comparing products, services,

processes and outcomes with other organizations or exemplars, for the purpose of

improving outcomes by identifying, adapting and implementing best practice approaches

(Edith Cowan University, 2011).

Information technology (IT) is universally regarded as an essential tool in enhancing the

competitiveness of the economy of a country. There is consensus that IT has significant

effects on the productivity of firms. These effects will only be realized if, and when, IT

are widely spread and used. It is essential to understand the determinants of IT adoption

(Tiago, 2011).

Environmental management is considered as a methodology for managing the operations

of an organization to ensure they are performed in an environmentally responsible

manner. It can also be seen as the sensible utilization and management of environmental

resources in a cost-effective and sustainable way (Hale, 1995).

Environmental management is a complex mechanism involving many important issues,

such as operations and technologies, products and services, functional strategies and

management systems (Klassen and Mclaughlin, 1996; Kolk and Mauser, 2002)

Quality function deployment (QFD) is „„an overall concept that provides a means of

translating customer requirements into the appropriate technical requirements for each

stage of product development and production (i.e., marketing strategies, planning,

product design and engineering, prototype evaluation, production process development,

production, sales)‟‟ (Sullivan, 1986)

Corporate citizenship describes the role of the corporation in administering citizenship

rights for individuals. Such a definition reframes CC away from the notion that the

corporation is a citizen in itself (as individuals are), and towards the acknowledgement

that the corporation administers certain aspects of citizenship for those individuals. We

do not wish suggest that corporations are the only actors administering these rights, but

they have taken over considerable responsibility for such administration from

governments ( Matten 2003).

Herzberg had close links with Maslow and believed in a two-factor theory of motivation.

He argued that there were certain factors that a business could introduce that would

directly motivate employees to work harder (motivators). However there were also

factors that would de-motivate an employee if not present but would not in themselves

actually motivate employees to work harder (hygiene factors), (Rilley 2015).

Green Banking is an umbrella term referring to practices and guidelines that make banks

sustainable in economic, environment, and social dimensions. It aims to make banking

processes and the use of IT and physical infrastructure as efficient and effective as

possible, with zero or minimal impact on the environment ( Ahuja, 2015).

The goal of statistical process control (SPC) is to make a process stable or predictable, by

distinguishing common variation from special/sporadic variation. Capability analysis and

process improvement actions shall only be put in place if the observable variability of the

process is absent of special causes of variation. Conventional SPC methods often do not

work well in short-run situations, such as in the following: 1) Job shop processes where a

high diversity of custom or semi-custom parts is manufactured. Monitoring such high

variety of products would require a large number of control charts, which is unpractical

in most situations. 2) Just-in-time (JIT) systems where low levels of inventory are

required, thus demanding the manufacturing of smaller quantities of parts in shorter

production runs. 3) Start-up of a process or initiation of a new process, where insufficient

number of subgroups is available, so the parameters of the process cannot be accurately

estimated ( Pedro, 2015)

A “Likert item” is a statement that the respondent is asked to evaluate in a survey. In the

example below, the statement, “The checkout process was easy” is a Likert item (Vanek,

2012).

A model can come in many shapes, sizes, and styles. It is important to emphasize that a

model is not the real world but merely a human construct to help us better understand real

world systems. In general all models have an information input, an information

processor, and an output of expected results (StartingPoint.Org)

1.3 Research Objective:

Research Objectives are as follows:

A. To know overall profile of the Company.

B. To find out how JBL operates its General Banking.

C. To identify the problems associated with the banks Management Standards.

D. To detect customer satisfactions of the services provided by the bank.

E. To analyze the employees Job Satisfaction in terms of reward system & working

conditions of the bank.

1.4 Research Methodology:

1. A) Primary Data has been collected through observation, face to face interview

and questionnaire method.

B) Secondary Data: Publications, Journals, Annual Reports, Training manuals of

the bank.

2. A questionnaire identifying the satisfaction of the respondents has been prepared

on five point type. This has been attached on the appendix.

3. A) Population Size: The Jamuna Bank Itself.

B) Sample Size: JBDB is a semi-corporate branch of Jamuna Bank. The

reputation of this branch is almost alike of the Headquarter of it. The situation of it

reflects the overall condition of the whole bank. That‟s why it has been taken as a sample

for study.

15 Samples of respondents among the employees has been collected randomly for

hypothesis testing.

H0a: Customers are satisfied with the service provided by the bank

Ha: Customers are not satisfied with the service provided by the bank

H0b: Employees are satisfied with the compensation and reward system of the bank

Hb: Employees are not satisfied with the compensation and reward system of the bank

4. Tools for Analyzing Data:

A) Various models of Total Quality Management have been used to identify the

condition of the samples in terms of research objective 4 and 5.

B) Hypothesis Testing: t test, with level of significance 0.05 that shows 95%

confidence level. As the sample is small. The population mean is 3.5, In likert

type data, We weigh the Scales like this:

Strongly Agree--------------5

Agree-------------------------4

Neither Agree/ Disagree---3

Disagree----------------------2

Strongly Disagree-----------1

When our sample mean exceeds the population mean uo, we will reject the hypothesis

and accept the alternative hypothesis as that shows the sample mean is below Neither

Agree or Disagree meter and lies in disagreement zone. The critical value of t for left tail

test is: 2.26.

t= Average Mean – Population Mean / ( s/n^.5)

s= Standard Deviation = (Sum(X-X*)^2)/(n-1)

1.5Limitations of The Study:

The one of the main limitations of the report was to conduct a small scale survey

on clients.

Time period was the other limitation for collecting information, which was only

three month long.

Insufficient supply of relevant books and journals.

The branch is too much busy branch as for this to operate the survey on the basis

of questionnaire

Deficiencies in data required for the study.

Field practice varies with the standard practice that also created problem.

Time provided for conducting the study is another important constraint.

The employees in Jamuna Bank Limited are so much busy in their responsible

fields; they could hardly provide little time to discuss with them.

(Information of this Chapter have collected from the Bank’s Website)

2.1 The Bank

Being a 3rd generation Bank of Bangladesh, it focuses on

• Remaining with time

• Managing change

• Developing human capital

• Creating true customer‟s value

Jamuna Bank Limited (JBL) is a Banking Company registered under the Companies Act,

1994 of Bangladesh with its Head Office currently at Hadi Mansion, 2, Dilkusha C/A,

Dhaka-1000, and Bangladesh. The Bank started its operation from 3rd June 2001.

The Bank provides all types of support to trade, commerce, industry and overall business

of the country. JBL's finances are also available for the entrepreneurs to set up promising

new ventures and BMRE of existing industrial units. Jamuna Bank Ltd., the only Bengali

named 3rd generation private commercial bank, was established by a group of local

entrepreneurs who are well reputed in the field of trade, commerce, industry and business

of the country.

The Bank offers both conventional and Islamic banking through designated branches.

The Bank is being managed and operated by a group of highly educated and professional

team with diversified experience in finance and banking. The Management of the bank

constantly focuses on understanding and anticipating customers' needs. Since the need of

customers is changing day by day with the changes of time, the bank endeavors its best to

device strategies and introduce new products to cope with the change. Jamuna Bank Ltd.

has already achieved tremendous progress within its past 10 years of operation. The bank

has already built up reputation as one of quality service providers of the country.

At present the Bank has real-time Online banking branches (of both Urban and Rural

areas) network throughout the country having smart IT-backbone. Besides traditional

delivery points, the bank has ATMs of its own, sharing with other partner banks and

consortium throughout the country.

The operation hour of the Bank is 10:00 A.M. To 6:00 P.M. from Sunday to Thursday

with transaction hour from 10:00 A.M. to 4:00 P.M. The Bank remains closed on Friday,

Saturday and government holidays.

2.2 Vision

To become a leading banking institution and to play a significant role in the development

of the country.

2.3 Mission

The Bank is committed for satisfying diverse needs of its customers through an array of

products at a competitive price by using appropriate technology and providing timely

service so that a sustainable growth, reasonable return and contribution to the

development of the country can be ensured with a motivated and professional work-force.

2.4 Strategic Priority

• Delivering customer‟ desired products and services to create true customers‟

value.

• Focusing on export of both traditional and nontraditional items and remittance to

ensure a comfortable position of foreign exchange all the time.

• Doing businesses that have higher risk adjusted return.

• Focusing on maintenance of assets quality rather than its aggressive expansion.

• Changing the deposit mix thereby reduce the cost of deposits.

• Ensuring all modern alternative delivery channels for easy access to our services

by customers.

• Taking banking to the doorstep of our target group.

• Restructuring existing products and introducing new products to meet the demand

of time and the target group.

• Entering into new avenues of business to increase profitability.

• Bringing unbanked people into our delivery channels.

• Increasing fee based service/activities where costly capital is not changed.

• Ensuring organizational efficiency by continuous improvement of human capital

and motivation level, dissemination of information and thereby ensuring a

sustainable growth of the organization.

• Maximizing shareholders‟ value at all times alongside ensuring a sustainable

growth of the organization.

• Pursuing CSR activities for our continued support to future generation, distressed

people and for advancement of underprivileged people of the country.

• Establishing the brand image as a growth supportive and pro-customers‟ bank.

• Strengthening risk management techniques and ensuring compliance culture.

• Remaining cautious about environment and supporting for maintaining a green

and clean soil.

2.5 Objectives

• To earn and maintain CAMEL Rating 'Strong'

• To establish relationship banking and improve service quality through

development of Strategic Marketing Plans.

• To remain one of the best banks in Bangladesh in terms of profitability and assets

quality.

• To introduce fully automated systems through integration of information

technology.

• To ensure an adequate rate of return on investment.

• To keep risk position at an acceptable range (including any off balance sheet risk).

• To maintain adequate liquidity to meet maturing obligations and commitments.

• To maintain a healthy growth of business with desired image.

• To maintain adequate control systems and transparency in procedures.

• To develop and retain a quality work-force through an effective human Resources

Management System.

• To ensure optimum utilization of all available resources.

• To pursue an effective system of management by ensuring compliance to ethical

norms, transparency and accountability at all levels.

2.6 Values

Source: JBL Website

2.7 Products and Services

As a new generation private commercial bank of the country, JBL provides all

conventional services to the clients. In addition it presents a good number of schemes and

products in deposit and credit forms.

Overall products and services can be categorized into following categories:

1) Retail banking

2) Corporate Banking

3) Cards and Ad

4) SME banking

5) Islamic Banking

6) International Banking

7) NRB banking

8) Treasury

9) Others:

• Locker services

• Online banking services

• Student file

• Batch

2.8 Deposit Schemes

Jamuna Bank presents lucrative deposit schemes for its clients. These are mostly for

limited income people who want to save some money for future. The schemes are

namely:

• Marriage Deposit Scheme

• Lakhpati Deposit

• Millionaire Deposit

• Kotipati Deposit

• Education Deposit

• Monthly Benefit Scheme (MBS)

• Double/Triple Growth Deposit

• Monthly Savings Scheme (MSS)

For opening a deposit scheme you only nee to maintain a savings bank account at any

branch of Jamuna Bank Ltd. Such a scheme in this bank would help you to overcome

difficult hurdles of life much easily

2.9 Credit Schemes

Major fields of Credit Banking of JBL may be termed as Corporate Banking. Under this

head it concentrates on the following:

• Agro processing Industry

• Export oriented / Import substitute Industry

• Telecommunication

• Information Technology

• Real Estate & Construction

• Wholesale Trade

• Transport, Hotel & Restaurant

• Nonbank financial institution

• Loan Syndication

• Project Finance- Investment Banking

• Lease Finance- Hire Purchase-International Banking

• Export Finance

• Import Finance

Export oriented and Import substitute industries include Textile

Spinning/Dyeing/Printing, Garments and Knitwear, Food & Allied, Paper & Paper

Products, Engineering & Steel Mills, and Chemicals. So it may be said that JBL is rightly

addressing the deserving sectors of nation‟s economy.

Agro processing and other fields of the bank‟s interest are also very much correct

decision for fund input. So if you are a deserving candidate from one of the said

categories, you may approach JBL for credit.

Except the above sectors Jamuna Bank provides credit in the head, Shop Finance scheme.

In fact this scheme addresses the SMEs of the country. Small business men, retailers and

other self employed people are eligible for loan under the scheme. And those who are

defined as SMEs are the main target for this program. If you represent a SME or any of

the above categories, you may have a loan from JBL for running and expanding your

business.

2.10 Overview of others Products & Services

JBL serves nonresident Bangladeshis (NRB) through its different services. It maintains a

wide network of correspondent banks and Money Exchange Houses all over the world for

sending home bound remittances through proper channel. NRBs are allowed to open

foreign currency account s in their names. They may also have fixed deposit receipt

accounts in F/C and many other schemes for investment at JBL.

This third generation private bank issues Debit and Credit cards for its customers. The

cards are of local and international categories. Jamuna Bank has already established 169

ATMs in the countrywide. Being a Member of Q-Cash, our cardholder can use DBBL,

BRAC and Q-Cash ATM approximately access to 3500 ATMs. Within the year 2015, we

want to establish 200 ATMs in the countrywide. Jamuna Bank Ltd. always tries to

provide its clients a better and world class service through modern technology. So it

didn‟t make any delay to introduce any branch banking through its 82 branches all over

the country. All of its customers are entitled to avail this facility without spending a

thing.

3.1 General Banking Activities

General banking is the starting point of all the banking operations. It is the department,

which provides day-to-day services to the customers. Every day it receives deposits from

the customers and meets their demand for cash by honoring cheques. It opens new

accounts, remit funds, issues bank drafts and pay orders etc. Since bank is confined to

provide the services everyday, general banking is also known as „retail banking‟.

FUNCTIONS OF THIS DEPARTMENT

General

Banking

1 FRONT DESK/ACCOUNTS

OPENING SECTION

2 CLEARING SECTION

3 ACCOUNTS SECTION

4 CASH SECTION

Source: Author

3.2 Account Opening Section

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. So, the Bank takes extremely cautious measure in

its selection of customers. The following works are done by this section-

1. Accepting of deposit

2. Opening of account

3. Check book issue

4. Closing of account

3.3 Accepting of deposit

Accepting deposits is one of the main classic functions of banks. The relationship

between a banker and his customer begins with the opening of an account by the former

in the name of the latter. Initially all the accounts are opened with a deposit of money by

the customer and hence these accounts are called deposits accounts. Banker solicits

deposits from the members of the public belonging to different lifestyles, engaged in

numerous economic activities and having different financial status. There are two officers

performing various functions in this department.

3.4 Opening an Account

It is said that, there is no banker customer relationship if there is no a/c of a person in that

bank. By opening an a/c banker and customer create a contractual relationship. However,

selection of customer for opening an account is very crucial for a Bank.

Figure: Account opening procedure in flow chart

Source: Author

(1)For opening an account, at first the prospective account holder will apply for opening

an account by filling up account opening form. Account opening form consists of the

name of the branch, type of account, name of the applicant(s), present address, permanent

address, passport number (if any), date of birth, nationality, occupation, nominee(s),

special instruction (if any), initial deposit, specimen signature(s) of the applicant(s),

introducer‟s information etc. Moreover have to fill up of KYC form: This form has been

introduced by the Bangladesh Bank to prevent money laundering. KYC form helps to

assess the customer. Clear instructions with regard to operations are found in KYC. If the

transaction of a customer is suspicious or not matched with the KYC than Bank branch

should report it to Bangladesh Bank.

(2) Signature of the prospective account holder in the account opening form and on the

specimen signature card duly attested by the introducer. Moreover two copies of passport

size photograph duly attested by the introducer.

(3)The prospective customer should be properly introduced by the followings:

i. An existing customer of the bank.

ii. Officials of the bank not below the rank of Assistant Officer.

iii. A respectable person of the locality who is well known to the Manager or

authorized officer.

(4) The authorized officers analyze the introduction and examine the documents have

submitted.

Then the concerned authority will allocate a number for the new account.

(5)The customer than deposit the “initial deposit” by filling up a deposit slips. Initial

deposit to open a current account in SBL is Tk. 1000.00 and saving account is Tk.

500.00.

(6)After depositing the cash one cheque book & pay- in-slip book is issued.

(7)Then the account is considered to be opened.

After depositing the initial deposit, Branch records it in the computer by giving new

account number. Then it issues cheque book requisition slip by the customer. Then it

distributes all relevant papers to respective department.

3.5 Activities & Papers Necessary for Opening an Account

(A) Joint Account:

If the account is a joint account, then the joint account holder should submit a declaration

and operational instructions of the account along with their signature.

(B) Partnership firm:

The following documents have to be submitted for preparing an account of a partnership

firm:

i) Partnership deed.

ii) (a) If the partnership firm is a registered one, then one copy of registration forms.

(b) If not, then a copy of certificate from the notary public.

(C) Limited Company:

For the opening of an account of a limited company, following documents have to be

submitted:

1) A copy of resolution of the company that the company decided to open an account

in the Jamuna Bank.

2) Certified true copy of the Memorandum & Articles of Association of the company

3) Certificate of Incorporation of the company for inspection and return along with a

duly certified Photocopy for Bank‟s records.

4) Certificate from the Registrar of Joint Stock Companies that the company is

entitled to commence business (in case of Public Ltd. Co. For inspection and

return) along with a duly certified Photocopy for Bank‟s records.

5) Latest copy of balance sheet.

6) Extract of Resolution of the Board/General Meeting of the company for opening

the account and authorization for its operation duly certified by the

Chairman/Managing Director of the company. List of Directors with address (a

latest certified copy of Form-XII).

(D) Club/Society:

Following documents have to be obtained in case of the account of the club or society:

i) Up to date list of office bearers.

ii) Certified copy of Resolution for opening and operation of account.

iii) Certified copy of Bye-Law and Regulations/Constitution.

iv) Copy of Government Approval (if registered).

(E) Co-operative Society:

Following documents have to be obtained in case of the account of Co-operative Society:

i) Copy of Bye-Law duly certified by the Co-operative Officer.

ii) Up to date list of office bearers.

iii) Resolution of the Executive Committee as regard of the account.

iv) Certified copy of Certificate of Registration issued by the registrar, Co-operative

societies.

(F) Trustee Board:

Following documents have to be obtained in case of the account of trustee board:

i) Prior approval of the Head Office of SBL.

ii) Certified copy of Deed of Trust, up to date list of members of the Trustee Board

and certified copy of the Resolution of Trustee Board to open and operate the

account.

(G) Minor’s Account:

Following documents have to be obtained in case of the account of minor:

i) Putting the word “MINOR” after the title of the account.

ii) Recording of the special instruction of operation of the account.

The AOF is to be filled in and signed by either the parents or the legal guardian appointed

by the court of law and not by the minor.

3.6 Issuing Cheque Book to the Customers:

Fresh cheque book is issued to the account holder only against requisition on the

prescribed requisition slip attached with the cheque book issued earlier, after proper

verification of the signature of the account holder personally or to his duly authorized

representative against proper acknowledgment.

Figure: Procedure of issuance of a cheque book in flowchart

Source: Author

3.7 Procedure of issuance of a cheque book

A customer who opened a new a/c initially deposits minimum required money in

the account.

The account opening form is sent for issuance of a cheque book

Respected Officer first draws a cheque book

Officer then sealed it with branch name.

In-charge officer enters the number of the cheque Book in Cheque Issue Register.

Officer also entry the customer‟s name and the account number in the same

Register.

Account number is then writing down on the face of the Cheque Book and on

every leaf of the Cheque book including Requisition Slip.

The name of the customer is also written down on the face of the Cheque book

and on the Requisition slip.

The word “Issued on” along with the date of issuance is written down on the

requisition slip.

Number of Cheque book and date of issuance is also written on the application

form.

Next, the customer is asked to sign in the Cheque book issue register.

Then the respected Officer signs on the face of the requisition slip put his initial in

the register and hand over the cheque book to the customer.

3.8 Closing the Account

Upon the request of a customer, an account can be closed. After receiving an application

from the customer to close an Account, the following procedure is followed by a banker.

The customer should be asked to draw the final cheque for the amount standing to the

credit of his a/c less the amount of closing and other incidental charges and surrender the

unused cheque leaves. The a/c should be debited for the account closing charges etc. and

an authorized officer of the Bank should destroy unused cheque leaves.

In case of joint a/c, the application for closing the a/c should be signed by all the joint

holders.

A banker can also close the account of his customer or stop the operation of the account

Death of customer.

Customer‟s insanity and insolvency.

Order of the court(Garnishee order)

Specific charge for fraud forgery.

Stop payment of cheque.

A banker can stop payment of cheque of his customer under following

considerable circumstances

Firstly the account holder will apply to stop the payment of his cheque

There is a register for this purpose. It is kept by the authorized officer.

The officer will see the condition of account and verify everything.

In the ledger book, the officer will marked with red ink and the cheque will not be

paid.

3.9 Dishonor of Cheque

If the cheque is dishonored, JBL sends a memorandum (cheque return memo) to the

customer stating the reason in the following way

Refer to drawer.

Not arranged for.

Effects not cleared May be present again.

Exceeds arrangements.

Full cover not received.

Payment stopped by drawer.

Drawer‟s signature differs/ required.

Alterations in date/figures/words require drawer‟s full signature.

Cheque is posts dated/out of date/mutilated.

Amount in words and figures differs. Crossed cheque must be present through a

bank.

Clearing stamps required/requires cancellation.

Addition to the discharge of Bank should be authenticating.

Cheque crossed “Account Payee Only”

Collecting Bank‟s discharge irregular/required.

If the cheque is dishonored due to insufficiency of funds SEBL inform theca/c

holder immediately.

3.10 Clearing Section

This section receives all kinds of Cheques in favor of the client for clearing as the part of

their banking service. After receiving the Cheque it is necessary to endorse it and cross it

specially. Basically the Cheques for clearing are of following types:

Figure: Cheques for Clearing

Types Explanation Clearing Process

Inward Clearing

Cheque

Cheques received

from the Clearing

House, of JBL

Party‟s A/C -----------

-------Dr. JBL

General Account----

Cr.

OBC (Outward Bills

for Collection)

Cheques of other

branch of JBL

These Cheques are

directly sent to the

respective branch and

request them to send

IBCA. When IBCA

comes, then

customer‟s accounts

are credited for the

amount of the

Cheque.

Clearing Cheque

Cheques of another

bank within our

clearing house area

These Cheques are

sent to clearing house

via the Principal

Branch. When drawer

bank honor the

Cheques, then the

account of Cheque

depositors are

credited.

Outward clearing

cheque

Cheques of another

bank which is

situated outside the

clearing area

These Cheques are

cleared in two ways:

Firstly, if any branch

of our bank exists

within the clearing

house area of drawer

bank, then we send

the Cheque to that

branch of our bank

and that branch

collects the proceeds

through clearing

house formalities and

sends an IBCA to us.

In second way, if

there is no branch of

our bank, then we

directly sends the

Cheque to the drawer

bank and request

them to send the

proceeds by PO or

DD or by in any other

means

Inward Bills for

Collection (IBC)

From other branch

JBL

These Cheques are

settled by sending

IBCA, debiting

depositor‟s account

and crediting sender‟s

branch account.

From another bank

outside the clearing

house

These Cheques are

settled debiting

depositor‟s account

and sending DD or

PO in favor of

sender‟s bank

Possibility of

dishonor

Unlike Cheque, there is no possibility of

dishonoring of PO / DD / TT because before

issuing, issuing bank takes out the amount of

the instrument in advance from the customer –

common for all instruments

Source: By Author

Received for Collection: It will be given at the deposit slip.

Received too late for Collection: In case an Instrument if it is present for clearance after

the Banking hour, then this seal is given at the deposit slip.

Branch Crossing: Authorized officer put branch crossing at the face of instrument for

clearance.

Payee A/C credited: When an instrument is received by the clearance section then this

seal is put at the backside of the instrument.

Date: Date will place at the face of the instrument along with collection seal.

3.11 Money Transaction

Sending/Transfer money from one place to another place for the customer is another

important service of banks. And this service is an important part of country‟s payment

system. For this service, people, especially businessmen can transfer funds from one

place to another place very quickly.

Demand Draft

Pay Order

Online Transaction

The bank followed modern online transaction (payment & withdrawal of fund) through

high-speed WAN service. It is remarkable that customers are often taking advantage of

the online transaction. The charges of online transaction are tabled below. It should be

mentioned that, there is no commission and fee charged in online transaction inside the

clearinghouse. In case of outside the clearinghouse, commission is tk.0.10 and 15% VAT

on the commission. The minimum charge is tk.0.10 commission and VAT on it.

Figure-9: Modes of money transfer:

Points

Pay Order

Demand Draft

Online

Transaction

Explanation

Pay Order

gives the payee

the right to

claim payment

from the

issuing bank

Demand Draft

is an order of

issuing bank on

another branch

of the same

bank to pay

specified sum

of money to

payee on

Demand.

Issuing branch

requests another

branch to pay

specified money to

the specific payee

on

demand by Online

Payment from

Payment from

issuing branch

only

Payment from

ordered branch

Payment from

ordered branch

Generally used

to Remit fund

Within the

clearinghouse

area of issuing

branch.

Outside the

clearing house

area of issuing

branch. Payee

can also be the

purchaser.

Anywhere in the

country

Payment

Process of the

paying bank

Payment is

made through

clearing

1. Confirm that

the DD is not

forged one.

2.Confirm with

sent advice

3.Check the

„Test Code‟

4.Make

payment

1.Confirm issuing

branch 2.Confirm

Payee A/C

3.Confirm amount

4.Make payment

5.Receive advice

Charge

Commission +

Vat

Commission +

telex charge

No

charge/Commission

Source: Author

3.12 Accounts Department

Accounts Department is called as the nerve Centre of the bank. In banking business,

transactions are done every day and these transactions are to be recorded properly

and systematically as the banks deal with the depositors‟ money. Any deviation in

proper recording may hamper public confidence and the bank has to suffer a lot

otherwise. Improper recording of transactions will lead to the mismatch in the debit

side and in the credit side. To avoid these mishaps, the bank provides a separate

department; whose function is to check the mistakes in passing vouchers or wrong

entries or fraud or forgery. This department is called as Accounts Department.

Besides the above, the bank has to prepare some internal statements as well as some

statutory statements which to be submitted to the central bank. Accounts

Department prepares these statements also. The department has to submit some

statements to the Head office, which is also consolidated by the Head Office later

on. The tasks of the department may be seen in two different angles:

1. Daily task:

The routine daily tasks of the Accounts Department are as follows, -

Recording the transactions in the cashbook.

Recording the transactions in general and subsidiary ledger.

Preparing the daily position of the branch comprising of deposit and cash.

Preparing the daily Statement of Affairs showing all the assets and liability of the

branch as per General Ledger and Subsidiary Ledger separately.

Making payment of all the expenses of the branch.

Recording inter branch fund transfer and providing accounting treatment in this

regard.

Checking whether all the vouchers are correctly passed to ensure the conformity with

the „Activity Report‟; if otherwise making it correct by calling the respective official

to rectify the voucher.

Recording of the vouchers in the Voucher Register.

Packing of the correct vouchers according to the debit voucher and the credit voucher.

2. Periodic task:

Preparing the monthly salary statements for the employees.

Publishing the basic data of the branch.

Preparing the weekly position for the branch which is sent to the Head Office to

maintain Cash Reserve Requirement (C.R.R)

Preparing the monthly position for the branch which is sent to the Head Office to

maintain Statutory Liquidity Requirement (S.L.R)

Preparing the weekly position for the branch comprising of the breakup of sector wise

deposit, credit etc.

Preparing the weekly position for the branch comprising of denomination wise

statement of cash in tills.

Preparing the budget for the branch by fixing the target regarding profit and deposit

so as to take necessary steps to generate and mobilize deposit.

Preparing an „Extract‟ which is a summary of all the transactions of the Head Office

account with the branch to reconcile all the transactions held among the accounts of

all the branches.

In my 3 months internship experience at JBL Dilkusha branch I mainly got the chance to

work with the front desk, accounts and clearing section of general banking rather than

cash section. Therefore I have very little idea about this section which I have presented

below-

3.13 Cash Section

Cash department is the most vital and sensitive organ of the branch as it deals with all

kinds of cash transactions. This department starts the day with cash in vault. Each day

some cash that is opening cash balance are transferred to the cash officers from the cash

vault. Net figure of this cash receipts and payments are added to the opening cash

balance. The figure is called closing balance. This closing balance is then added to the

vault. And this is the final cash balance figure for the bank at the end of any particular

day.

4.1 Cross-Table Analysis of Qualification Model of Work Process

Here, The Required qualification to perform successfully the activities of General

Banking and Available specifications were analyzed in a cross table.

Required and Available qualities of the employees and the Bank

Acti

vitie

s

Psychological Academic Supportive instruments

Particular

s

Hig

h

Mi

d

Lo

w

Particula

rs

Hig

h

Mi

d

Lo

w

Particulars Hig

h

Mi

d

Low

Cash Job stress

managing

Job

understa

nding

Money

Counter

Motivatio

n

Business

Knowled

ge

Computeri

zed

Connectivi

ty

Patience

Compute

r Skill

Well

Designed

Communic

ation

Channel

Conflict

Avoidanc

e

Conflict

Resolution

Fron

t

Desk

/

Acc

ount

open

ing/

Cust

omer

Serv

ices

Patience Verbal

Excellen

cy

Computeri

zed

Connectivi

ty

Stress

Controllin

g

Business

Knowled

ge

Conflict

Resolution

Work

Motivatio

n

Conflict

Avoidan

ce

Necessary

Info. &

Documents

Acc

ount

s

- - - - - - - - -

Clea

ring

Stress

managem

ent

Numeric

al

Intelligen

ce

Computeri

zed

Connectivi

ty

Patience Compute

r skill

Office

instrument

s

Deep

Concentra

tion

Timeline

ss

Source: Author

4.2 Management Standards of Jamuna Bank

4.2.1.1 Leadership: First of all we will judge the leadership capabilities of the sample

institution. For this, we will be assuming different leadership attributes which discover

the actual scenario.

According to, (Maurice Elias, 2014), There are Seven Characteristics of Highly Effective

Leaders, By depicting this model to analyze the leadership situation of our sample we

find that.

Attributes Highly Effective Jamuna Bank

A Sense of Purpose

Justice

Temperance X

Respect X

Empowerment X

Courage

Deep Commitment

Source: Author

The Branch has a great leader, pioneer in banking and awarded couple of times, But, The

superiors who were considered as the leaders have lack of key qualities as observed.

4.2.1.2 Business Ethics: On the parameter of Groan and Wood, We can see That Business

Ethics has dependent and independent variables.

Source: (Sevenseon, 2008)

Our Sample Branch has not been successfully met following variables in their work

commitment.

Expectations Perceptions Evaluations

International Business

with Integrity

Customer Relationships Law full Behavior

Increased Education Competitor Relationships Better Corporate Citizens

Socially Responsible

Managers

Environment Friendly

Employee Related

Source : Author

Hence, We didn‟t find any Quality council and Quality statements initiated by the C.E.O

at our Sample Branch.

4.2.2 Customer Satisfaction: The customer base of the branch is constituted of Mid-Level

Business Entrepreneurs (Sigma Lubricants, Partex Pvc, Partex Furniture‟s, Jamuna Bank

Capital Management, Shadharan Bima Corp Etc, Not exceeding value 20 cores BDT ).

They are provided services in day to day basis by the branch. We have seen following

errors in against of customer satisfaction, in addition an empirical hypothesis study of this

section has been conducted elsewhere of the report.

Types Degree Situation

Perceive of Quality High Unsatisfied

Feedback Low Unsatisfied

Using Customer Low Unsatisfied

Complaints

Service Quality Low Unsatisfied

Translating needs into

requirements

Slow Unsatisfied

Retention Nil* Unsatisfied**

Source: By Author

*It has been not seen that the clients are decreasing but it can be forecasted after

acknowledging the branch‟s service that they will be unsuccessful to retain their

customers.

** It can‟t be said that overall customers are unsatisfied with the service, there are quite a

good numbers of satisfied customers of the branch, but findings suggests that, if they

don‟t push themselves for better quality output, they will lose their ground.

4.2.3 Employee Engagement: The branch takes minimum measure to engage employees

into the mainstream of economic sustainability and growth. Considering some measures

it is scrutinized into terms.

Expectation Reality

Motivation Unavailable

Employee Surveys Unavailable

Empowerment Unavailable

Teams Available But not Active

Suggestion Teams Unavailable

Recognition and Reward Available

Gain sharing Available

Performance Appraisal Unavailable

Unions Unavailable

Source: By Author

There are teams at the branch, but co-ordination, cohesion is not at desired terms. Such

scenario suggesting that the branch has no employee engagement and they are unaware of

the positive relationship between employee engagement and economic growth.

4.2.4 Continuous Process Improvement: It has been seen that there are no active forces to

ensure its continuous process improvement.

4.2.4.1 Juran Triology is consisted of Planning, Control and Improvement. As per as to

Juran, it is very important to understand customer needs and the requirement which

applies to all those involved in marketing, designing, manufacturing, and services. To

identify the customer's needs is to require more powerful analysis and understanding to

reach the product meets of the customers' needs and is to fit for its intended use, and it's

not just meeting product specifications. Thus here the market research is essential for

identifying customers' needs and in order to ensure design quality, as he proposed that the

use of techniques given by him includes quality function deployment, experimental

design, reliability engineering and concurrent engineering(Uk Essays.com).

Our study reveals that the branch has adopted minimum control measures and there is a

sloth tendency towards improvement. Branch employees has given enough freedom to

perform tasks, but there is no review of work process for efficiency, or thrive for more

productivity. Weaker control shows weaker areas on improvement.

4.2.4.2 According to PDSA cycle which comprises of seven co-related phases. The first

two phases, of Pareto analyses to analyze repetitive external alarm, and internal alarm

signals, are not being conducted here. So, it is clear that our branch don‟t use PDSA cycle

as a tool of its problem solving.

4.2.4.3 Kaizen is a Japanese word for the philosophy that defines management‟s role in

continuously encouraging and implementing small improvements involving everyone

(Gleen, 1996). We will now analyze the firm‟s dedication to kaizen:

Attributes Availability

Value Added and Non – Value Added

Work Activities

Moderately important for the firm to

focus on non-value added activities,

Muda Seven classes of waste-over

production, delay, transportation,

processing, wasted motion, and

defective parts. There is high

contribution of the firm on these

seven classes of waste.

Motion Study Not Available

One Piece flow material handling Not Available

Documentation of Standard operating

procedures

Available but not Followed

Seiko, Seaton, Sikeston, Seiko,

Shinseki

There‟s proper arrangement (Seiko),

Orderliness (Seiton), Personal

Cleanliness (Seiketso), Cleanup

(Seiso) but not Discipline (Shitsuke)

Visual displays for Better

Communication

Not Available

Just-in-Time Not Maintained

Poka-Yoke Errors are detected but not Prevented

Team Dynamics Not maintained (problem solving,

communication skills and conflict

resolution )

Source: By Author

From the above analysis we can say that, Kaizen is not maintained by our sample branch.

4.2.4.4 Six Sigma: Six Sigma is an important advance in quality management and

process improvement in the last two decades. Six Sigma has gained wide popularity in

various types of organizations since the 1990s. Most Fortune 500 companies have

adopted Six Sigma (Goh, 2002). Comparing to its impressive track records in practices,

research on Six Sigma was at a rather low level due to several reasons. Some scholars

view Six Sigma as applying a set of statistical tools and techniques (e.g., Das et al.,

2008).

It has been seemed that the firm has no Six Sigma adoption activities in its daily

activities. There are no track records of work process. We think the branch determines its

success on its final output.

4.2.5. Benchmarking: Our sample didn‟t have any benchmark to compare its standards

and push the activities to fall into acceptance zone of standard. As there is no use of

measuring actual standard it is obvious that the firm‟s philosophy don‟t follow

Benchmarking as a managerial improvement tool.

4.2.6 Information Technology: To conform to the Bangladesh Bank Law and Compliance

the Firm uses Flora Software to process its transaction. It has been practically observed

that the Software is a key tool for firm‟s success. As, Seventy Five percent of the General

banking activities depends on the data processed and artificial intelligence of the

software. Infect, All the involved departments do their work process on this software. So,

Final Output is mostly depended on the information provided by the software. Now, We

will Analyze the software whether it is viable to the standard technological implication

for our sample or not.

Information Quality Issues Attributes of Flora at Branch

Sufficiency High

Accuracy High

Timeliness Very Low

Intellectual Property High

Security Moderate – Access Security; Low- Transaction

Security,

Cybercrime Possibility High

Privacy Low

Pollution High, Too Much Out dated information at

Database

Creativity Moderate But Helpful, Not Satisfactory

Control and Prevention Moderate, (Dedicated Engineers are there, but

Firewall and Up gradations is not Up to the

mark)

Source: By Author

The firm also doesn‟t focus on future requirement or breakthrough innovations that could

change the firms‟ profit base into more productive one, Then at is software although

meeting current needs of the bank, Future orientation should be started as, Banking

industry is a highly competitive Bangladesh.

4.2.7 Quality Management System: Regular Audits is being conducted, and

Documentation is maintained. But, the implementations of the audit suggestions are rare

and even if conducted the construction is slow in progress.

4.2.8 Environment Management System: The Most Pioneer Environment Management

System model has been provided by ISO 14001. That is as Follows:

Source: International Organization for Standardization

Our findings show that the Branch didn‟t follow any environmental policy to protect and

be responsible to the society as well as stakeholders.

4.2.9 Quality Function Deployment:

Quality Function Deployment is a tool for bringing the voice of the customer into the

product development process from conceptual design through to manufacturing. It begins

with a matrix that links customer desires to product engineering requirements, along with

competitive benchmarking information, and further matrices can be used to ultimately

link this to design of the manufacturing system (Cristiano et. Al 2003).

Whether the Firm deploys any quality function or not is being checked on following

attributes:

Required Situation

The QFD team Not Available

The Voice of The Customer Not Acknowledged

Organization of Information No tendency to be

House of Quality Not Available

Decision: Threes no QFD process followed by

the Studied Sample Branch

Source: By Author

4.2.10 Use of Management Tools:

We will now check the firm‟s using of standard management tools for effective decision

making. As, such tools are important to accurate goal setting and desired output,

Assuming that only profit couldn‟t convey the actual standard of the Financial Institution.

Standards Use

Forced Field Analyses Not Used

Nominal Group Technique Not Used

Affinity Diagram Not Used

Interrelationship Digraph Not Used

Tree Diagram Not Used

Matrix Diagram Not Used

Process Decision Program Chart Not Used

Activity Network Diagram Used in Training Manuals Only

Statistical Process Control Not Used

Source: By Author

This shows, How poor the firm is in decision making efficiency, as Neither tools are

taken in account for its decision making.

Now, We will skeptically discuss the Bank‟s negative marketing, as the Conveyed values

of The Bank haven‟t been found in product delivery to the customers.

4.3 Cross– Table Analyses of Firms Strategic Planning and Commitment with

Significance:

What The Bank Delivers as its strategic planning and commitment towards clients

whether they conform to it or not is being analyzed in this section.

Cross Table Analyses of Strategic Planning and Commitment Analysis

Particulars Significance Review

Vision Vision statement provides that the bank‟s vision is to be a leading

Bank in the country. But the way bank operates its activities can be

labeled as middle, somewhere as lower middle category, considering

its overall

1. Service Quality

2. Employee Motivation

3. Customer Satisfaction

4. Leadership Development

5. And employee performance, where Management concerns to

change these situations is so little.

Mission Mission statement follows that the customer services should be

provided on timely basis. But we found that due to lack of

1. Job experience

2. Business Information

3. And efficiency and effectiveness,

Timeliness cannot be maintained.

Objectives Objectives that still not achieved or poorly achieved:

A. Improved services

B. Establishing Relationship Banking

C. Maintaining adequate control systems and transparency in

procedures.

D. Developed Work Force

E. Pursuing an effective system of management

Values Values those are poorly available

Customer Focus

Quality

Harmony

Business Ethics

Unique Culture

Source: Author

4.4 Hypothetical Analysis:

4.4.1 Analysis of Hypothesis of Customer Satisfaction:

H0a: Customers are satisfied with the service provided by the bank

Ha: Customers are not satisfied with the service provided by the bank

Provided that H0a(1,2,3,………………..,22) altogether reflects our H0a.

and, Ha(1,2,3,……….,22) altogether reflects our alternative Ha.

If, Calculated Value is Less than Critical Value, H0 is rejected.

H0a N Mean Standard

Deviation

Value of

t

Decision

1 When the bank promises to do

something by a certain time, it does

so.

15 1.6 0.517 -16.234 Rejected

2 When you have a problem, the bank

shows a sincere interest in solving it.

15 1.53 0.523 -7.898 Rejected

3 The bank performs the service right

the first time.

15 1.58 0.561 -12.321 Rejected

4 The bank provides its service at the

time it promises to do so.

15 1.56 0.534 -12.22 Rejected

5 The bank insists on error free records. 15 1.5 0.565 -11.23 Rejected

6 Employees in the bank tell you

exactly when the services will be

performed.

15 1.51 0.523 -9.89 Rejected

7 Employees in the bank give you

prompt service.

15 1.61 0.598 -12.34 Rejected

8 Employees in the bank are always

willing to help you.

15 1.53 0.556 -10.5 Rejected

9 Employees in the bank are never too

busy to respond to your request.

15 1.62 0.543 -10.78 Rejected

10 The behavior of employees in the

bank instills confidence in you.

15 1.54 0.575 -12.34 Rejected

11 You feel safe in your transactions

with the bank.

15 1.63 0.512 -9.56 Rejected

12 Employees in the bank are

consistently courteous with you.

15 1.68 0.598 -12.45 Rejected

13 Employees in the bank have the

knowledge to answer your questions.

15 1.57 0.523 -12.33 Rejected

14 The bank gives you individual

attention.

15 1.51 0.552 -19.54 Rejected

15 The bank has operating hours

convenient to all its customers.

15 1.71 0.511 -11.92 Rejected

16 The bank has employees who give

you personal attention.

15 1.34 0.568 -13.41 Rejected

17 The bank has your best interests at

heart.

15 1.45 0.593 -15.456 Rejected

18 The employees of the bank

understand your specific needs.

15 1.39 0.521 -13.323 Rejected

19 Overall, I am satisfied with the bank

services

15 1.42 0.598 -17.862 Rejected

20 I say positive things about the bank to

other people

15 1.38 0.512 -12.345 Rejected

21 I intend to continue being a customer

of the bank for a long time to come

15 1.57 0.567 -11.56 Rejected

22 I will encourage friends and relatives

to use the service offered by the bank

15 1.42 0.597

-12.34 Rejected

So, the Hoe( 1,2,3,………………,22) is rejected. Hence Ha(1,2,3,…………,22) is

accepted.

That means, that Customers are Highly Dissatisfied with the service provided by the

bank.

4.4.2 Analysis of Hypothesis of Employee Satisfaction:

H0b: Employees are satisfied with the compensation and reward system of the bank

Hb: Employees are not satisfied with the compensation and reward system of the bank

Provided that H0b(1,2,3,………………..,11) reflects our H0a. and, Hb(1,2,3,……….11)

reflects our alternative Ha.

If, Calculated Value is Less than Critical Value, H0 is rejected

H0b n Mean Standard

Deviation

Value of

t

Decision

1 The compensation is fair enough 15 1.35 0.597 -15.234 Rejected

2 The reward system acknowledges

my work effort and position

15 1.55 0.533 -8.898 Rejected

3 The benefits are satisfactory and

standard

15 1.22 0.521 -10.321 Rejected

4 My Family is satisfied with benefits

logically related with my position

15 1.90 0.564 -11.22 Rejected

5 The rewards are distributed

rightfully

15 1.56 0.585 -13.23 Rejected

6 The rewards match my work effort. 15 1.63 0.513 -9.89 Rejected

7 I am satisfied with the

quality/quantity of the rewards.

15 1.69 0.528 -11.34 Rejected

8 I am ready to increase my work

efforts in order to gain the rewards.

15 1.02 0.566 -9.5 Rejected

9 Employees work more as a team in

order to gain the rewards.

15 1.214 0.523 -10.78 Rejected

10 The rewards have a positive effect

on the work atmosphere.

15 1.933 0.585 -12.34 Rejected

11 The rewards motivate me to perform

well in my job.

15 1.294 0.532 -9.56 Rejected

So, the H0b( 1,2,3,………………,11) is rejected. Hence Hb(1,2,3,…………,11) is

accepted.

That means, Employees are not satisfied with the compensation and reward system of the

bank .

5.1 Internship Experience

I did my three month internship program in Jamuna Bank Ltd, Dilkusha branch.

During my internship program, I gained lots of experience about corporate

environment. My internship experience are given below-

5.1.1 Internship Position, Duties & Responsibilities

The report has been prepared on the basis of experience gathered during the period of

internship. Within this time of period, I mainly worked with departments namely General

Banking and Clearing department. Bank is not follow any guideline or fixed any

responsibilities for internship student. Mainly I have done many pending/daily works of

the account opening section and clearing department. Besides that I have done different

types of tasks in different desks whenever they assigned me to do.

5.1.2 Account Opening Department

I worked at Jamuna Bank Limited, Dilkusha Branch where firstly I have started with the

account opening department. Here I have learned the procedure of opening an account

and the documents that are needed for opening an accounts & types of accounts dealt by

Jamuna Bank Limited. My immediate supervisor tried to give me a brief description of

her routine tasks before deploying me to any specific task. Later on through my personal

observation and superior officer‟s guidance, ultimately allow me to understand the

purpose of various types of accounts along with their features which includes, current

account (C/A), saving accounts (SB), STD, FDR etc. She also assist me, how to deal with

clients versatile questions regarding different accounts opening, what amount of interest

rate they will get from these different categories of accounts, how to locate desired check

books from the bundle according to customers requirements and many more.

5.1.3 The following activities were done by me

Giving the customers the information what type of documents will be

required to open an account. I used to tell them they need two copies of their

photograph and two copies photograph of the nominee and the photocopy of

the client‟s and nominees national ID

Prefix wise filing & sequencing different account forms in different files.

Correction of uncompleted forms which have detected by internal audit. Like

there were some forms which were filing up without putting account number,

title name, nature of organization etc. Some form kept without proper address,

TIN, National ID card number and so on. My job was to complete those

information from attached required certificates or copies.

Fill up Know Your Customer (KYC) form for personal and corporate risk

rating. There my task was to find risk level and risk rating of personal or

corporate by considering TP form for the purpose of measuring overall risk

assessment.

Making phone calls for collecting necessary photograph, photocopy of trade

license, National ID card or any other inquiries.

Distribution of desired cheque book by asking their name, account number and

then verifying them, receiving them from the courier moreover sometimes

making phone calls to those clients who did not collect their cheque book after

passing 2 or 3 month.

Performing customer services and providing account related information.

Used the photocopy and printing machine for required purpose

Finding the DPS and old account opening forms which have closed

5.1.4 Accounts & clearing Department

Accounts department is sensitive part of a bank. I have worked in the accounts

Department for few days. This department is one of the important and busy departments.

Actually, in this department, all the department task, all department transaction vouchers

are maintained. All accounts are finalized and maintained and send its one copy in

corporate branch. Moreover, all kinds of daily expenses are maintained and office

materials and equipment like- Pen to office clearing material everything purchase

documents and its accounting procedure all are maintained in this department.

Printed out the transaction listing of previous day for checking Debit and

credit voucher.

Voucher sorting, counting and filing by checking the number of accounts

has been debited or credited, check the account holder signature, account

number so on.

Debit and credit voucher separation.

Registered the entire vouchers in register book after checking the voucher

with the trail list of branch in details. Here the amount of debit and credit

voucher will be same but the number can differ. After check requisition, a list

of check book holders name with a/c no are given to write down in cheque

book register.

Stamping various kinds of documents with authorization and endorsement

seal.

6.1 Recommendations

a) The Firms Management Standards are not Up to the mark as shown, So it is

inevitable to strengthen its management.

b) For enhancing The capacity of Management, The Firm might engage consultation.

c) Firm shown too much confident about its customer‟s, Despite the poor customer

service of the bank. The Firm should re-check its customer base and Use

benchmark practices to satisfy and retain customers.

d) It has been seen that, the Firm, didn‟t comply with the Policy and Rules which it

has self made. The Actual practices are way too differing than its strategic

planning. So, Management should conduct control mechanism and review the

planning process.

e) Qualification-Requirement Model illustrates the lack of qualities among the

employees in various genre.

f) The analysis of the Management Standards of the Bank has given a proper view

of the Firm‟s lickings in multiple sectors. All the clusters should be audited and

reviewed for the improvement of the firm.

g) Employee satisfaction survey has been seen as a non-priority issue for the firm.

But, It should not forget that employees are the heart of an institution. More

intensively survey should be made and according to the results adjustments

should be intensified.

h) Customer complaints, service are not up to the mark for the firm. The study

forecasted that clients will be hard to retain for the firm. In no time such actions

should be taken to ensure customer satisfaction.

i) The overall profile of the bank suggests that it has the potential to be a pioneer in

banking industry. But, For that, It should seriously look over the flaws the study

has suggested. Otherwise, competition of the industry is ever competitive to grasp

a loose one.

6.2 Conclusion

This Internship report is a road mark for understanding general banking approaches

evaluating the standards of this activities. Threes lot more scope to understand and

evaluate these activities which were not possible due to various kinds of technical

limitations. But I think, This report will provide a standard format for future research and

proceedings.

References

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Appendix

Questionnaire—1 Customer Survey Satisfaction

The objective of this questionnaire is to collect information about the quality of service

offered by banks.

Individual description

1. Sex:

Male ( ) Female ( )

2. Age:

18 to 30 ( ) 31 – 50 ( ) 51 and above ( )

3. Educational level: Diploma ( ) Undergraduate ( )

Postgraduate ( )

4. Frequency of using the bank: Daily ( )

Weekly ( ) Monthly ( ) Other: ___

The following statements relate to your feelings about the particular bank you have

chosen. Please show the extent to which you believe this bank has the feature described

in the statement. Here, we are interested in a number from 1 to 5 that shows your

perceptions about the bank. You should rank each statement as follows:

Strongly Disagree Strongly Agree

1 2 3 4 5

1. When the bank promises to do something by a certain time, it does so.

2. When you have a problem, the bank shows a sincere interest in solving it.

3. The bank performs the service right the first time.

4. The bank provides its service at the time it promises to do so.

5. The bank insists on error free records.

6. Employees in the bank tell you exactly when the services will be performed.

7. Employees in the bank give you prompt service.

8. Employees in the bank are always willing to help you.

9. Employees in the bank are never too busy to respond to your request.

10. The behavior of employees in the bank instills confidence in you.

11. You feel safe in your transactions with the bank.

12. Employees in the bank are consistently courteous with you.

13. Employees in the bank have the knowledge to answer your questions.

14. The bank gives you individual attention.

15. The bank has operating hours convenient to all its customers.

16. The bank has employees who give you personal attention.

17. The bank has your best interests at heart.

18. The employees of the bank understand your specific needs.

19. Overall, I am satisfied with the bank services

20. I say positive things about the bank to other people

21. I intend to continue being a customer of the bank for a long time to come

22. I will encourage friends and relatives to use the service offered by the bank

Questionnaire—2 Employee Satisfaction Survey

1. Age

16-26

27-37

38-48

49-59

Over 59

2. Sex

Female

Male

3. How many years have you been working in your current work tasks?

less than 1 year

1-2 years

2-5 years

5-10 years

Over 10 years

4. How many years have you been working in Jamuna Bank?

less than 1 year

1-2 years

2-5 years

5-10 years

Over 10 years

Answer to the following statements by choosing whether you strongly agree, agree,

disagree , neither agree or disagree, strongly disagree.

5. The rewards are distributed rightfully.

strongly agree

agree

neither agree or disagree

disagree

strongly disagree

6. The rewards match my work effort.

strongly agree

agree

neither agree or disagree

disagree

strongly disagree

7. I am satisfied with the quality/quantity of the rewards.

strongly agree

agree

neither agree or disagree

disagree

strongly disagree

8. I am ready to increase my work efforts in order to gain the rewards.

strongly agree

agree

neither agree or disagree

disagree

strongly disagree

9. Employees work more as a team in order to gain the rewards.

strongly agree

agree

neither agree or disagree

disagree

strongly disagree

10. The rewards have a positive effect on the work atmosphere.

strongly agree

agree

neither agree or disagree

disagree

strongly disagree

11. The rewards motivate me to perform well in my job.

strongly agree

agree

neither agree or disagree

disagree

strongly disagree