Final Internship Report

Internee’s Name

Muzamil Kousar

Internee’s ID

06010611-011

Session

B.S (HONS) 7th Semester

Department

Psychology

Area of Internship

Organizational Psychology

Organization’s Name

The Bank Of Punjab (Railway Road, Branch, Gujrat) (0107)

Internship’s Duration

22 July, 2009 – 19 September, 2009

Duration

8 Weeks

Supervisor’s Name

Miss Aliyha Basharat Ghumman

Signature UNIVERSITY OF GUJRAT

1

DEDICATED TO My PARENTS WHO ALWAYS LOVED ME & all those who have a soft corner for me in their hearts

Acknowledgement

2

I am very grateful to Allah; Allah is my fountain of Life and My Savior. Allah keeps me going day and night. Without Allah, I am no one. But with Allah, I can do everything. Allah is the most compassionate and the most beneficent and to The Holly Prophet (S.AW.), The most perfect and exalted one among and of ever born on the surface of earth, who is forever torch of guidance and knowledge for humanity and who preached the Muslims “seek knowledge from cradle to grave”. Allah is my strength and honored me for joining such a profession, which lead to the service of depressed mankind. I am grateful to almighty Allah who made me able to complete the work presented in this report. It is due to Allah unending mercy that this work moved towards success. I am very thankful to my ever caring and loving parents whose prayers have floated me in the deep seas of troubles and give me financial support. All of my successes are due to my family, friends and honorable teachers especially Sir Tanveer Ahmad Naveed & Miss Samia Khnum. I feel great pleasure and honor to express my gratitude and appreciation to my supervisors Miss Aliyha Basharat Ghumman. I owe a debt of immense gratitude to her for her cooperation and valuable suggestions during the span of my internship. I am especially thankful to the bank staff and particularly. Mr. Amjad Farooq

Manager

Mr. Mohammad Sajid

Manager Operations

Mr. Imtiaz Cheema

Banking Officer

Mr. Iftehar

Banking Officer

Mr. Mohammad Shafiq

Relationship Officer

Mr. Mohammad Nadeem Butt

Cash Officer

Content Table Serial No:

Topics

Page No 3

1 2 2.1 2.2 3 4 5 5.1 5.2 5.3 5.4 6 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 7 8 9 10 11 11.1 11.2

Introduction Introduction of the Organization • Source Of Bank Of Punjab • Finance Products • Main Offices Structure of the Bank’s Branch Internee’s worked Plan of Internship • Account opening • Clearing Term deposit • Bills and remittances • Cash department Training Program 1) First Week 2) Second Week 3) Third Week 4) Fourth Week 5) Fifth Week 6) Sixth Week 7) Seventh Week 8) Eighth Week Brief Summary Challenges During Internship Skills Used During Internship Skills Gained During the Internship Period SWOT Analysis • STRENGTH • WEAKNESSES

1 2 2-3 3 4 5 6 6 6 6 6 7 7 8 9 10 11 12-13 14 15 16 17 18 19 20 20 20-21 4

11.3 11.4 12 13 14 14.1 14.1.1 14.1.2 14.1.3 14.1.4 14.1.5 14.1.6 14.1.7 14.1.8 14.2 14.2.1 14.2.2 14.2.3 14.2.4

• OPPORTUNITIES • THREATS Limitations Suggestions Appendixes Appendix - A Table#1 Table#2 Table#3 Table#4 Table#5 Table#6 Table#7 Table#8 Appendix - B Organizational Structure Request Letter Issued By University of Gujrat Permission Letter For Internship Issued by Organization Completion Letter of Internship by Organization

21 21 22 23 24 25 25 26 27 28 29 30 31 32 I II III IV V

5

14.2.5

Fill Evaluation Form of Internship Through Organization

VI

Introduction Organizational psychology is focused on group-type settings, most commonly offices and workplace psychology. This section of psychology takes theories, research, and intervention and communication strategies and applies them to groups in both work and non-work settings. People in this field focus on helping people understand their interactions with one another so that everyone can work together to accomplish important tasks. As internee I have done my internship in an organization (Bank of Punjab). In which I have learn that an internship is an agreement between internee and a company or organization for a fixed period of time, such as a semester. Internee agrees to work for them and they agree to mentor and teach internee. Here are 6

some goals of internship for that peruse an internee do internship in any organization which can guide the internship program; 1. An internship provides meaningful work experience, which supplements and modifies ideas gained from academic courses. 2. An internship enhances the student's subsequent academic work. 3. An internship offers the student an opportunity to assess his/her abilities and interests in Marketing, thus assisting the student intern in choosing a specific career. 4. An internship provides an inside exposure to the structure, operations, and decision processes within an organization without a commitment to a permanent employer. 5. An internship places the student in a favorable position for permanent employment. 6. An internship will develop skills in the application of theory to practical work situations. 7. An internship will provide students the opportunity to develop attitudes conducive to effective interpersonal relationships.

Introduction of the Organization The Bank of Punjab was established in 1989 under The Bank of Punjab act 1989. The first Branch which opened was the Main Branch Lahore. In 1989 Bank of Punjab (BOP) was mended as a non – scheduled bank on in the province of Punjab. In beginning the main deposits were the government. Because it was opened to support the government of Punjab. In 1994 the Bank of Punjab (BOP) was converted into a scheduled Bank it opened its Branches in all over the country.

Source Of Bank Of Punjab The bank of Punjab release funds for the purpose of its business from the following sources.

7

1. 2. 3. 4. 5. 6.

Capital Reserves Liquid Assets International Bank Enter Bank Demand Drafts

1. Capital The main source of fund realization of the Bank of Punjab (BOP) is its own capital. The bank uses its capital for the purpose of investment, lending and other activities to earn profit. 2.

Reserve Fund

It is the rule of the Bank of Punjab (BOP) that when they earn profit. It does divided whole the trading profit some portion of such profit which are undivided profit are keep as reserve by bank. 3.

Liquid Assets

The bank required to maintain liquid assets as instruction by State Bank of Pakistan percentage. So this amount also use as funds. 4.

International Banks

The bank of Punjab also borrows money or realizes funds from international banks to meet their requirements.

5. Enter Bank The Bank of Punjab also deal or release funds from other banks like. • • • •

Habib Bank Ltd. Muslim Commercial Bank Ltd. UBL NBP

1. Demand Drafts Bank of Punjab (BOP) provides safe, speedy and reliable way to transfer money at vary reasonable rates. Any person whether an account holder of the bank or not, can purchase a Demand Draft from a bank branch. 8

Finance Products 1. Agriculture Schemes 2. Business Promotion Finance Schemes 1) Agriculture Schemes There are many agriculture promotion schemes provided by BOP. ➢ Kissan Dost Agricultural Finance Scheme ➢ Kissan Dost Tractor Finance scheme ➢ Kissan Dost Aabiari Scheme ➢ Kissan Dost Mechanization Support Scheme ➢ Kissan Dost Farm Transport Scheme ➢ Kissan Dost Eslah-E-Arazi Scheme ➢ Kissan Dost Live Stock Development Scheme ➢ Kissan Dost Live Stock Scheme Such type of schemes provides farmers a real plate form to accelerate.

1) Business Promotion Finance Schemes ➢ BOP Quick Cash ➢ BOP Car Loan ➢ BOP House Loan ➢ BOP SME Loan ➢ BOP Assaish Loan ➢ BOP House Loan For Federal Govt The Bank of Punjab is working as a scheduled commercial bank with a network of almost 272 branches at all over major locations in the Punjab. The Bank provides all types of banking services such as Deposits in Local Currency and client foreign currency, remittances, and advances to business, trade, industry and agriculture. The Bank of Punjab has indeed entered a new era of science to the nation under experience and professional hands of its management. The Bank of Punjab plays a vital role in the national economy through mobilization of hitherto untapped local resources, promoting savings and providing funds for investments. The bank offers attractive rates of profit on all deposits, opening of foreign currency accounts and handling of foreign exchange business for example imports, exports and remittances, financing, trade and industry for working capital requirements and money market operations. The lending policy of bank is not only cautious and constructive but also based on principles of prudent lending with maximum emphasis on security.

9

Main Offices Head Office and the main branch of Bank of Punjab (BOP) is in 10-B, Block E-II, Main Boulevard, Gulberg III, Lahore. The Bank has been divided into seven regions. Each consisting a number of branches. ➢ ➢ ➢ ➢ ➢ ➢ ➢

Lahore Region Faisalabad Region Gujranwala Region Rawalpindi Region Karachi/Quetta Region Multan Region Peshawar Region

Rests are the branches working under these regions. Which are almost 272 in all over Pakistan?

Structure of the Bank’s Branch Internee’s worked Mr. Amjad Farooq (Manager)

Mr. Mohammad Sajid (Manager Operations) Mr. Imtiaz Cheema Banking Officer Mr. Iftehar Banking Officer

10

Mr. Mohammad Shafiq Relationship Officer Mr. Mohammad Nadeem Butt Cash Officer There are also two watchmen, one cook and one sweeper.

Plan of Internship One of the most important aims of the student life is to express him/her correctly and adequately. Determined, Confident and Persistent in the pursuit of knowledge and learning, Internee was on way to Bank of Punjab (BOP) Railway Road, Branch, Gujrat. (0107) early in the morning of July 22, 2009. Normally internee wanted rest and recreation after the tiring exams in July but this time internee was anxiously waiting for the start of internship. There are following learning points for internee in Bank of Punjab (BOP). •

Account opening

•

Clearing Term deposit

•

Bills and remittances

•

Cash department

Internee has completed own Eight weeks practical training till September 19, 2009.

11

Training Program First week In first week internee introduce about herself and her institute. Internee started own internship from "General Banking" in the first week. Mr. Sajid teach internee very nicely. The General banking is basically divided into the following sub departments, which are already, define above in planning internship: •

Account opening

•

Clearing Term deposit

•

Bills and remittances

•

Cash department

The first day of exposure to the practical field was at the (sub department) Account opening. Although the procedure of opening an account in a bank is a quite complicated job but internee going to tell about only the basic necessities for opening the account, which are as follows: •

Introduction

•

National Identity Card

•

Personal data

•

Details of dealing with other banks.

These are some of the basic requirements for opening the account. Then the banker inquires about the option of opening a joint account or individual. If the customer wants to open joint account then either it is "either or survivor" (i.e. only one persons signature is sufficient) or jointly (i.e. both should sign the cheque). End Note In first week internee was observing the officer that how she perform and manage her duty in Account Opening Department. Now internee knows about different accounts names and their codes. How to open the account? 12

See table #1 in appendix A page # 25

Second Week In second week during internship in Bank of the Punjab, internee’s supervisee assigned internee work in Account Opening Department because internee has fully learned about this job in previous week. Internee came to know about the details of the account opened by the banks, which internee has explained in previous portion of "Departments". Now let internee tell about the further related detail of account opening. First of all a customer come and gets the information regarding the opening of account. After getting the proper information he/she gets an introducer and goes for opening an account of any kind whatever he/she wants. •

She/he fills the form regarding the opening of account which is in fact a request.

•

Specimen Signature (S.S) card is filled which contains the signature that will be used in future in order to identify that you are the same particular person who perfectly eligible for receiving the benefits.

•

The Specimen Signature (S.S) card and the application form are verified and the verification stamp is imposed on it.

•

After verification the application forms are pasted in the file with the serial no which is actually the account no. Allocated to the respective customers.

•

The cheque book is issued to the customer after three days.

•

The procedure for opening the account comes to an end after sending the letter of thanks.

End Note So during this week internee open individual accounts, saving account and joint accounts and deal with customers very nicely. Internee convinces them and gives information about Account Opening that customers should open their accounts in Bank of Punjab (BOP) by using internee’s communication skills. Internee is fully trained in this job how to open the above accounts and how a deal with customers. See table #2 in appendix A page # 26

Third Week 13

In third week internee is transfer to issues the cheque book. In this task officer tells internee that once the account is opened, Bank of Punjab (BOP) issues the cheque books to the customer so that they could withdraw their money whenever they like. The producer of issuance of the cheque book is as follows: •

For the customer who already has an account with the bank, the lastly consumed cheque book requisition slip with the help of which a new cheque book is issued.

•

For the person who is going to open a new account for the first time gets the cheque book free without any requisition slip.

•

For the new depositors the cheque book is not issued at the time of opening of account, rather it is issued after three days.

End Note During this week internee performed the duty on Issuance of the Cheque Book. Now internee fully trained in this particular job and knows about that which type of Cheque Book will be issued. See table # 3 in appendix A page # 27

Fourth Week In this week of internee’s internship internee was shifted to the Clearing section. Clearing is an "Inter-city clearing" i.e. the cheques of Gujrat city from different banks like National Bank of Pakistan, Muslim Commercial Bank are deposited here. The deposited cheque is received carefully by checking the title of cheque, date, amount, and signature on the cheque. All the cheques go to the State Bank of Pakistan (SBP). Everyday National Institutional Facilitation Technologies (NIFT) receives all cheques and arranges them. By establishment of National Institutional Facilitation Technologies (NIFT) a lot of time, cost and labor are saved. The cheques are stamped carefully. Two stamps are required on the cheques •

Clearing stamp 14

•

Payee's account will be credited

If any stamp is missed or unclear; State Bank of Pakistan (SBP) returns the cheque with a reason. When the cheques are deposited they enter all the cheques on the computer with account number and these figures go to State Bank of Pakistan (SBP). End Note In this week internee performed a job relating to the cheques. Which type of cheque will be cash and which one is relating to other branch in a city? Now internee is fully trained in this job. See table #4 in appendix A page # 28

Fifth Week In the fifth week of internship internee was transferred to the Bills for Collection. Internee’s supervisee told about that there are two types of cheques are deposited here; •

Outstation cheques

•

BOP other branch cheques (local)

Outstation cheques mean different cities cheques are deposited and local means Bank of Punjab (BOP) other Branches are deposited. All cheques account numbers on the computer and these figures go to SBP. The cheques are cleared in 5-6 days. Because “National Institutional Facilitation Technologies (NIFT)" receives and delivers to State Bank of Pakistan (SBP) where these cheques are cleared in 3 days and deliver to the banks. If the cheques are returned due to some reasons, a returned memo is filled and entries are recorded on the register. Internee’s main focus on filling the returned memo and entries are recorded on the register. End Note In this week internee repeatedly performed this job but in Bills for Collections and now internee is fully trained in this job. See table #5 in appendix A page # 29

15

Sixth Week In the sixth week of internship internee was transferred to the "Remittances department". Mr. Sajid tells internee about the issuance, procedure and the entries of the demand drafts It is an instrument payable on demand for which value has been received, issued by the branch of the bank drawn. Demand draft is payable at some other branches of the same bank. Demand draft is very useful because there is no chance of fraud. The person deposit cash and get demand draft. It is used for outstation payment. Issuance Of Demand Draft On the application form following particulars are given: • • • • • •

Name of beneficiary Amount Mode of payment The place where Demand Draft is drawn Signature Name and address of the beneficiary

Request shall be made on standard application form. The customer writes his/her name, address, National Identity Card number, and phone number on the backside of the application form. Commission is charged as per schedule of charges. The issuance of Demand Draft is computerized and the amount is automatically protectively graphed drawing printing for the avoidance of forgery. The withholding tax and excise duty is deducted as per schedule. When the customer deposits cash in the cash department, he/she got voucher from the cash department and gave it to the person who makes the Demand Draft. Payment of Demand Draft When a person brings Demand Draft (which have been drawn on you), banker will check it from the bank’s Demand Draft payable record and ask the customer to sign twice at the back of the 16

Demand Draft so that it could be confirmed that he/she is the eligible person for receiving the benefit, along with this banker obtain the National Identity Card of that person verify it and then make the payment. After making the payment entry is made in the register that this Demand Draft has been paid. Cancellation of Demand Draft Following procedure is followed for the cancellation of the Demand Draft; • • • • •

Obtain the application in writing for the cancellation of Demand Draft along with the original Demand Draft. Verify the signature of the applicant, which should tally, with the signature on the application form (for opening the Demand Draft). Mark caution on Demand Draft issued register or on computerized entry. Make the payment from suspense account. Inform the Drawer bank regarding the cancellation. Inter Branch Credit Advice is the advice regarding the payment (refund) of the amount which Drawer bank have sent to them (which was deposited by the customer against the demand draft).

End Note In this week internee learn a new task i.e. to make the Demand Draft. In which internee is eligible to issuance of Demand Draft and registered the payment entry about the Demand Draft that payment has been paid. See table #6 in appendix A page # 30

17

Seventh Week In the seventh week of internship internee was performed the same "Remittances department" but the second type of Remittances Department that issuance, procedure and the entries of the Pay Order. Pay order issued from one branch can only be payable from the same branch. Pay order is used for same city payment. If Bank of Punjab (BOP) (Main Branch) issued pay order it is only payable for Main Branch of Bank of Punjab (BOP) . Procedure • • •

Applicant fill the application After paying charges he/she gets voucher and pay order is issued All pay orders shall be crossed "payee's A/c only”.

Cancellation • •

The applicant give application for cancellation Charges are recovered from the applicant.

There are no charges for Pay order while other banks charge for this service so it is an advantage going to Bank of Punjab (BOP) to attract customers. End Note In this week internee repeatedly perform the jobs and internee work on such type of operations i.e to make the Pay order and mark the Charges if Customer is not account holder of the Bank then 255 Rs commission of the Bank. See table #7 in appendix A page # 31 After this week all internees were on leave due to construction in the branch of Bank of Punjab because Railway Road Branch of Bank of Punjab was recently shifted from Sargoda Road Branch toward Railway Road Branch

Eighth Week In the eight week internee again join the bank and internee was shifted to the Term Deposits Receipts (TDR) department. It was again a good experience to work with the officer here. Mr. Iftehar trained internee in this task.

18

First of all he told internee about the basics of the Term Deposits Receipts (TDR). Deposit is lifeblood of a commercial bank. The main function of a commercial bank is to analyze the saving from the savers to the ultimate users of the funds. This process of collecting saving is called "deposit mobilization". Deposits are of two types one is the; • • •

Demand deposit Time deposit.

As the name signifies the demand deposit is payable on demand so no interest or benefit is given on such deposits but the time deposit is a kind of deposit, which gives you a benefit in terms of cash. Most of the people who have surplus money with them especially the landlords deposit their money in such accounts. Term deposits are payable on demand with certain maturity. Different percentages of profit are given in the time deposit. These are called fixed deposit because they are fixed and no transaction is allowed till maturity. In fix deposit a person can open an Account of the same title only than Account number will be changed. While in other accounts the Account can't be opened under the same title even in other branch of the same Bank. The record of the Term Deposits Receipts (TDR) is although fed in the computer but there is also a hard copy of the record. The verified Term Deposits Receipts (TDR) forms are pasted with serial number of receipt given to the customer (the receipt of the form regarding the deposit of the amount). The Account opening forms are attached or pasted in the file according to the date and certificates of Term Deposits Receipts (TDR) have been issued to the concerned person whose name Term Deposits Receipts (TDR) is created. The date may be of any month and any year i.e. if there is a card of the 8th then on this card you will find the only 8th date of any month and any year in which the card was issued. End Note In the last week of internship internee is learned about Term Deposits Receipts. Although it was a last week of internee’s internship so internee say thanks to all colleagues that they were very cooperated with the internee. See table #8 in appendix A page # 32

Brief Summary Internee has done her internship in the Bank of Punjab Railway Road, Branch, Gujrat. (0107). Internee has worked there for eight weeks “Internship Training” in the Bank of Punjab in order to perceive the true art and the practical picture of the human resources management and to go through the process by which the organization is making very good out its limited resources..

19

During the span of internship internee has done work on basic general banking under supervisee Mr Sajid. He teaches internee very nicely. Internee has start from Account Opening its procedure and practical also after that internee’s supervisee told about how to issue a cheque book after opening an Account and also for those customers who have already an Account in the Bank of Punjab. The procedure begins with the punching of account opening form to the customer file i.e. customer’s master file. Before closing any account, bank send letter to the account hold for informing him/her that his/her account is going to be closed. There is need an approval from higher authority to close any account. Current deposits are those which are payable to bank whenever demanded by the customer. Bank does not pay any profit on current deposits. In remittance department like any other Bank of Punjab also have instruments for transferring of money, Telegraphic Transfer, Mail Transfer. In cash department both deposits and withdrawals go side by side. Paying-in-slip, Cheque Book. The clearing in Gujrat at Bank of Punjab or other banks is being done through NIFT (National Institute of Facilitation Technology). Bank of Punjab views specialization and service excellence as the cornerstone of its strategy. The people at Bank realize that innovation, creativity, reliability, customized services and their execution are the key ingredients for their future growth. During this practical course internee has provided with an opportunity to learn that how the theoretical knowledge can be implemented in practical grounds.

Challenges During Internship Following are the challenges that I faced during my internship.

➢ Practical vs. Bookish knowledge Studies teach students theoretical aspects of practical field that is why students face difficulties in the real situation in adjusting in the practical environment of the organization. So being a student I encountered different sorts of problems that was challenging for me. I did not find much application of my knowledge in the bank. 20

➢ Lack of Banking Knowledge Although we have had a course of money and banking in an immediate prior semester to my internship, still I found it of very minor help in the bank. If we were given a comprehensive and practical know how in the course, it would have been an implementation of that knowledge in the real organization instead of learning everything from the scratch.

➢ Adjusting With the Employees In an organization I came across many people who were opposite to my personality and often found them offensive and uncomfortable because of their attitude but I had to work and coordinate with them which were very challenging for me.

➢ Responding To Work Load As it was my first experience in the work environment, it took me some time to settle in the bank setting. Learning new work especially in the beginning while at the same time responding to the seniors who assigned me the tasks to be completed in short time; was a great challenge for me. Even under such stress and strain marinating a positive attitude towards everyone was a line of challenge for me. But with the passage of time being student of psychology I have fully command in these challenges.

Skills Used During Internship The following are the skills that I got a chance to practice in the practical environment.

➢ Interpersonal Skills This is most common and one of the most important skills during my internship period. This skill helps a person to interact with others in much better and pleasant manner. It is an art to present one’s views, thoughts, and ideas before its listeners. During my internship period it helped me to build good rapport with the other employees who guided me in the best possible manner. My interaction and dealings with the customers helped me to broaden my social network.

➢ Communication Skills Communication means exchange of messages between people for the purpose of achieving common meanings. It is an art to make information flow smoother. Today it is very necessary to 21

communicate well especially in organizational sector and especially for those who are seeking information. My communication skills gave me self confidence while interacting with everyone else.

➢ Conceptual Skills I used my conceptual skills to gain an insight into the working of the bank: how the work is done? What are the problems? Their relative contribution to the economy as a whole.

➢ Stress Management Skills As this internship was my first experience in a practical environment so I faced a lot of mental strain in terms of adapting to the new work environment, practical learning, cope with the challenges faced etc. using my stress management skills I was able to list priorities and work accordingly.

Skills Gained During the Internship Period I have gained and observe a lot from my internship. This helps me a lot to observe being a student of Psychology. The following skills I gained during my internship session;

➢ Time Management Skills During my internship period I have learnt punctuality and the significance of time in an organization. I have realized that time management is an important element of work. My practical learning has taught me to prioritize and organize my work according to schedule that enabled me to complete my tasks in the allotted time.

➢ Human Skills

22

I learnt the human skills in BOP in true manner. Human skills associated with an employee’s ability to work well with others both as a member of a group as well as individual leader who gets things done through others.

➢ Self Control Our ability to exercise control over our own behavior by setting standards and providing consequences for our own actions refers to self control. As an internee this skill is really important because an internee does not have much of authority.

➢ Co-Ordination Co-ordination means the smooth flow of work that must be carried on consistently and systematically without any breakage. In a corporate environment like banking there is need for integration making co-ordination an essential environment. As an internee it is necessary to coordinate well with supervisors and co-workers.

➢ Better Communication Skills During my BS (Hons) I have attended courses on communication in different semesters and was taught how to communicate effectively with others. This was my first hand experience of communicating with the manager, junior officers and others and to socialize myself among those professionals. This experience augmented my communication skills and gave me the confidence of communicating with professional people

Strength, Weakness’, Opportunity and Threats (SWOT) Analysis “Strength, Weakness, Opportunity and Threats (SWOT) analysis is a situational which includes strengths, weaknesses, opportunities and threats that affect organizational performance.”“The overall evaluation of a company strengths, weaknesses, opportunities and threats is called Strength, Weakness, Opportunity and Threats (SWOT) analysis.” In Strength, Weakness’, Opportunity and Threats (SWOT) analysis the best strategies accomplish an organization’s mission by: 1. Exploiting an organizations opportunities and strength. 2. Neutralizing it threats. 3. Avoiding or correcting its weakness. Strength, Weakness, Opportunity and Threats (SWOT) analysis is one of the most important steps in formulating strategy using the organization mission as a context; managers assess internal strengths distinctive competencies and weakness and external opportunities and threats.

23

The goal is to then develop good strategies and exploit opportunities and strengths neutralize threats and avoid weaknesses.

STRENGTH ➢ The Bank officers of Bank of Punjab (BOP) are considered as one of the most able professionals in the banking world. In my observation that they interact with their clients as if they are their personal friends and discuss about their problems as their own. ➢ As a result of the compassionate and personalized services of the officers, the clients’ perception for Bank of Punjab (BOP) is very high. They have trust and feel themselves to be secure while dealing with Bank of Punjab (BOP). ➢ Bank of Punjab (BOP) has opened all its branches at commercial areas so that the customers or clients face no problems in reaching to the bank. ➢ Bank of Punjab (BOP) has got a reliable and easy to use internal computer system. Every information regarding the transactions in customers’ deposits has been computerized. Data are properly maintained. ➢ Good security system

WEAKNESSES ➢ Lack of proper internal controls is one of the major weaknesses of Bank of Punjab (BOP). It is also pointed by the auditor in his review. ➢ Bank of Punjab (BOP) has formulized a lot of products and services for its customers, even more than other commercial banks, but any advertisement on electronic media has not been seen. ➢ I observed during my internship that some of the employees were burdened with over work. So I think that the work should be distributed according to their post and capabilities. ➢ Biased selection of employees.

OPPORTUNITIES ➢ Satisfy dynamic consumer needs, Bank of Punjab (BOP) has made a lot of products have been introduced especially in Retail Banking (Agriculture side) and people are increasingly becoming loyal to the bank and because of feasible transactions. ➢ All the opportunities of the 21st century are to be availed in the information technology. Information technology is the future of this dynamic world. Therefore Bank of Punjab (BOP) should emphasize much on Information Technology, especially on ElectronicBanking. Bank can design a universal account like other foreign banks, to enhance online facilities. ➢ Bank of Punjab (BOP) has introduced a number of financial schemes including special ‘Deposit Accounts’. These accounts have their unique features. Therefore, with the commencement of new schemes there can even be a greater increase in its deposits

THREATS 24

➢ Despite the difficult circumstances that confronted the banking sector in particular and the country in general, Bank of Punjab (BOP) has been still highly profitable. But, the facts can’t be denied and there might be an adverse impact of such situation. ➢ Bank of Punjab (BOP) is facing a strong competition by its competitors, Business of all these Banks are growing at very high pace.

Limitations During internee’s internship at the Bank of Punjab (BOP) Internee finds out weak areas that require improvements for long-term benefit of the organization. Which are directly affected on efficiency and performance of the bank? There problems are also called as an internal problems. So these are discussing below:

➢ Lack Of Communication Among The Employees During the period internship internee found this problem as a biggest problem that, they are not very effective in communication between themselves. They do not share the experience with each other and do not care the other employee. If one employee has a problem, then he asked to other, but he does not give clear solution to that problems. They are shows the facial expressions against each other but not directly. They are talk against each other in front of me. So finally it is very needy for a public services organization to keep atmosphere friendly among the management and employees.

➢ Performance Appraisal During Internship I felt that there is no or very less appraisal of any ones cool performance. The manager should strictly monitor the performance of every staff member. All of them should be awarded according to their performance and result in the shape of bonuses to motivated and incite them to work more efficiently. 25

➢ Misuse Of Resources Resource are very needy, so there must be avoid to misuse the resources but in this branch it is reverse case, there is very wrong use of the resources, employees does not take care of resources and not used them in right direction. For example every person misuse telephone service even guards they use it for personal matters.

➢ Complaints of Customer There is no complaint box available in the branch and not any person appointed to hear the complaints. Every person cannot go to the manager for the complaint because most of the people are hesitant.

Suggestions Following some suggestion to the organization which make the organization well known and leads towards progress;  Staff colleges should be reorganized and their syllabus should be made in such a way which can help the employee understand the ever-changing global economic scenario.  Employees of the bank should be given a task and authority and they should be asked for their responsibility. The sense responsibility in employees mind is one of the most important factors in the success of any organization.  The manager should strictly monitor the performance of every staff member. All of them should be awarded according to their performance and result in the shape of bonuses to motivated and incite them to work more efficiently.  There should not be any abrupt policies change by the upper management, as this practice hurts the customer confidences in the bank. Government should make long-term policies.  There should be an information desk to provide the information and to receive the complaints of the customer in the bank. So I have suggested to management to install a compliant box in the branch, and recruit a special person for that guidance of the customer when they are unable to manage some difficulties in banking matters.

26

Appendixes

27

Appendix A Week # 1 (22 July, 2009 – 24 July, 2009) Table # 1 S. #

Date

Day

1

22-07-2009

Wednesday

9:00am -1:00pm

Introduction own self and organization & exchange the Letters

2

23-07-2009

Thursday

9:00am-4:00pm

Introduce the General banking & procedure of account opening

9:00am-2:00pm

Types of account opening (joint account or individual) and operate with the help of supervisor (Operational Manger)

3

24-07-2009

Friday

Timing

Tasks

28

Week # 2 (27 July, 2009 – 31 July, 2009) Table # 2 S. #

Date

Day

Timing

Tasks

1

27-07-2009

Monday

9:00am -4:00pm

Customer Dealing to attract them through providing the information related to the bank and accounts

2

28-07-2009

Tuesday

9:00am-4:00pm

Filling the forms for opening the accounts (Individual Account)

9:00am-4:00pm

Same job do this day(Filling the forms Individual Account)

9:00am -4:00pm

Filling the forms for opening the accounts (Joint Account)

9:00am-1:00pm

Same job do this day(Filling the forms Joint Account) & type the letters to sending to the customers with thanks

3 4

29-07-2009

Wednesday

30-07-2009

Thursday

5 31-07-2009

Friday

29

Week # 3 (03 August, 2009 – 07 August, 2009) Table # 3 S. #

Date

Day

Timing

1

03-08-2009

Monday

9:00am -4:00pm book why it should be issue

2

04-08-2009

Tuesday

9:00am-4:00pm

Basic procedure to issuance the cheque book

3

05-08-2009

Wednesday

9:00am-4:00pm

Issue the cheque book those customers who are already having account in the BOP

Introduction about cheque

06-08-2009

Thursday

9:00am -4:00pm

Same above task do on this day + issuance the cheque book those who are new account holder

07-08-2009

Friday

9:00am-1:00pm

Repeat same above both tasks

4

5

Tasks

30

Week # 4 (10 August, 2009 – 14 August, 2009) Table # 4 S. #

Date

Day

Timing

Tasks

1

10-08-2009

Monday

9:00am -4:00pm

Introduction about Clearing section "Intercity clearing" & its procedure

2

11-08-2009

Tuesday

9:00am-4:00pm

Repeat previous task

9:00am-4:00pm

Deposit the cheques carefully and separate them to bank wise for sending towards NIFT company

3

12-08-2009

Wednesday

4

13-08-2009

Thursday

5

14-08-2009

Friday

Same above task do on this

9:00am -4:00pm day -------

Independence Day

31

Week # 5 (17 August, 2009 – 21 August, 2009) Table # 5 S. #

Date

Day

1

17-08-2009

Monday

2

18-08-2009

Tuesday

9:00am-4:00pm

Repeat previous task told about its procedure + observe the supervisor

3

19-08-2009

Wednesday

9:00am-4:00pm

Deposit the local cheques carefully and fill the deposit slips

4 5

Timing

Tasks Introduce new task Bills for

9:00am -4:00pm Collection & its types

20-08-2009

Thursday

9:00am -4:00pm

Deposit the outstation cheques and fill the deposit slips

21-08-2009

Friday

9:00am -1:00pm

Focus on register work which are related to returned memos

32

Week # 6 (24 August, 2009 – 28 August, 2009) Table # 6 S. #

1

2

3

Date 24-08-2009

25-08-2009

26-08-2009

Day Monday

Tuesday

Wednesday

Timing 9:00am -4:00pm

Introduce new task Remittances Department, procedure and how it will be issued

9:00am-4:00pm

Repeat previous task + supervisor told about the procedure of entering the demand drafts & observe the work

9:00am-4:00pm

Dealing customers & told them procedure about Fill the form for issuing the demand draft

9:00am -4:00pm

Repeat previous task fill the forms + Payment of Demand Draft after checking that it will be paid or not and take signature of the customers

9:00am -1:00pm

Same task done on this day + work on register entering the payment and computerized work by my supervisor of BOP

4 27-08-2009

Thursday

5 28-08-2009

Friday

Tasks

33

Week # 7 (31 August, 2009 – 04 September, 2009) Table # 7 S. #

1

Date 31-09-2009

Day Monday

Timing

Tasks

9:00am -4:00pm

Introduce new task Remittances Department, but 2nd type that issuance, procedure of the Pay Order

2

01-09-2009

Tuesday

9:00am-4:00pm

Repeat previous task + supervisor told about the procedure of entering the Pay Order & observe the work

3

02-09-2009

Wednesday

9:00am-4:00pm

Fill the form for issuing the Pay Order

03-09-2009

Thursday

9:00am -4:00pm

Repeat previous task fill the forms + Payment of Pay Order after checking that it is related to will be paid or not and take signature of the customers

04-09-2009

Friday

9:00am -1:00pm

Same task done on this day + work on register entering the payment of Pay order

On Leaves

-----

-------

4

5 6

(07-15)- 092009

34

Week # 8 (16 September, 2009 – 19 September, 2009) Table # 8 S. #

Date

Day

Timing

Tasks

1

16-09-2009

Wednesday

9:00am -4:00pm

Introduce new task Term Deposits Receipts Department & its basics

2

17-09-2009

Thursday

9:00am-4:00pm

Told about the types of deposits of Term Deposits Receipts

3

18-09-2009

Friday

9:00am-1:00pm

At the end of week there is a refreshment program to see off internee

4

19-09-2009

Saturday

On this day internee take 9:00am -11:00pm her completion letter from bank

35

36