Escolar Documentos
Profissional Documentos
Cultura Documentos
For Partnerships:
Copies of I.D. Cards of all the partners Partnership Deed (certified copy) Attested copy of Registration Certificate with Registrar of Firms Original authority letter favoring persons authorized to operate the account In case the partnership is unregistered, this fact should be clearly mentioned on the account opening form Undertaking from the partners involved for responsibility of conduct of account individually and jointly
Copies of I.D. Cards of directors, power of attorney Certified copies of Certificate of Incorporation
Types of Accounts:
NBP offers the following types of accounts: Current account PLS Savings/PLS Term/BBA account Premium Saver/Premium Amdani Call deposit National Income Daily Account
Current Account
Current account is opened when the customer wants to do frequent number of transactions. Usually these types of accounts are opened for business. No profit is paid on these types of accounts. All the cheques presented by the customer are paid to the extent of the balance in the account; there is no restriction on the number of withdrawals. Current accounts are also called checking accounts. The minimum balance require to open the account for general customer is Rs. 5000/- and for staff Rs.100/-
Depositing Cheque
For depositing cheque, pink voucher is used, on which the customer writes date, account number, title of account (his name), amount of cheque & signature. At the end of the day all the cheques are sent to the clearing department for the realization of the account.
Closing of an Account
There are no. of reasons of closing an account. Some are listed below: If customer desires to close his account In case of death of one account holder. Bankruptcy of the account holder.
Before closing any account, bank send letter to the account hold for informing him that his account is going to be closed. There is need an approval form higher authority to close any account.
Deposit Department
Following activities are done in the deposit department: Payment of cheque Cash Deposit Issuance of bank statement Issuance of cash card (ATM card)
Payment of Cheque
Before making payment of a cheque a complete procedure is adopted this is shown in a diagram as under:
Cash Payment
Issuance of Token
Signature Verification
Issuance of Token When cheque is presented at counter for payment the officer examines the cheque before issuing a token for following reasons: The cheque is drawn on the same branch of the bank. The cheque is not crossed that it is open cheque. It is not a post dated cheque. The drawer has signed the cheque. The amount written in words and figure is same. The drawer of the cheque duly signs all alteration or cancellation.
The presenter has signed at the back of the cheque. The cheque is not payable to a limited company.
When the cheque is found in order the officer affixes Token Stamp and Pay cash Stamp on the cheque, writes the token no. on the cheque. After this the token is handed over to the presenter and the cheque is given to the other officer for signature verification. Signature Verification After issuing the token an officer examines the signature of the drawer with the specimen signature card. When it is found similar to specimen signature, he affixes the Signature Verified Stamp near the signature of the drawer and signs it, He also record the cheque on the scroll book and write the scroll book # on the cheque. Posting in computer and cash payment After the signature verification the officer check the balance in the account of the customer, if the account has sufficient balance and have no stop payments then the cheque is posted and handed over to the cashier for the payment of cash. Cashier gets the token back from the customer pays cash and affixes Cash Paid stamp on the cheque.
Depositing Cash
For depositing cash, green voucher is used, on which the customer writes date, account number, title of account (his name), amount of deposit & signature. Then he gives the voucher and amount to the cashier which receives the payment and gives a part of the voucher to the customer. At the end of the day all the amounts of deposits are punched into the computer in corresponding accounts.
But if an account holder wants the statement even after the six months, then the bank charges Rs. 55/- (annually) for the statement. He also has to write an application to the manager for the issuance of statement.
Remittances Department
The need for remittance is indispensable in case of the modern exchange of goods and services. Banks in this regard provide the facility of transfer of money from one place to another. This transfer of money is a source of profit for the bank. National Bank of Pakistan deals with the following types of remittances:
A DD leaf is filled with the information provided on the voucher and is sent to the officer for signature and authentication.
All these are recorded in the registers maintained for the purpose by the assistant incharge.
The DD is handed over to the applicant at the end. Bank sends and advice to the responding bank that a DD is being issued in favor of a customer of your bank to authenticate that the process is all-genuine.
The applicant shall send this DD to the beneficiary by means of any common carrier on which that person will become eligible to get the payment from his bank. The charges are subject to change from time to time based on the decisions made by the banks management.
A signature is taken on the counter folio of MT from the customer. The MT drawn is sent to the concerned branch with a fanfold by the bank itself.
Payment order may have different type procedures depending on the amount of charges and nature of the expenditure. Every officer and manger has powers to grant permission of PO up to certain sum of money. Where the limit exceeds the power it is referred to higher authority. And upon the permission a payment order is prepared. After the permission is granted the following process is involved: A voucher is prepare of the total amount of expense specifying the head of account to which that amount is to be charged. A payment order leaf is prepared, signed and authenticated by the officer in charge. A signature is taken on the counter leaf from the customer to keep evidence of receipt of PO. The PO is handed over to the customer.
That customer will present that leaf for the payment or may deposit it his account, as he wishes, and shall get the payment due.
Clearing Department
In clearing department, clearinghouse is a devise, which enable banker to settle cheques and other instruments, drawn on each other. National Bank of Pakistan is the member of SBP Clearing House and receives cheques, Demand Draft and other negotiable instruments for the presentation of its payment and also provides excellent services for clearing cheques and other inter bank obligations between the banks. In this way different banks get cheques drawn by the customers on one another. So, to off set the inter-bank claims 14 branches of SBP are providing clearing facility for scheduled banks. The State Bank of Pakistan merely debit or credit the balances of banks whose
accounts and services are maintained with it. It easier for member banks to adjust their claims against each other in the books of the state bank. This is an extra ordinary banking facility which is provided to the public in this if they are maintaining an account with the National bank they can lodge Cheque of any bank in Pakistan, which will be collected and credited to their respective accounts through the process of clearing. In this representatives of various banks are gathered at SBP and exchanges the Cheque presented to them for debit of the respective accounts and in second round of meeting provide each other the fate of those Cheques to be credited to respective accounts. All this function dons by SBP but in 2005 it make its new separate department NIFT national institution of facilitation technology. Now NIFT do this responsibility for clearing purpose. It takes the cheque from banks and gives report of clearing or return the cheque to bank if it has the fault in cheque. It takes Rs 200,000 from each main branch of any bank. Because all clearing is don by only main branch of any bank. In this department I learned about 1 .Inward clearing 2. Outward clearing 3 .Short credit clearing 4. Intercity clearing 5. Same day clearing 6. Clearing register 7. Received cheque 8. Delivered cheque 9. Scroll of cheque 10. Bundle cover 11. Summary delivery receipts
Inward clearing:
Other banks cheque comes in national bank main branch through NIFT for clearing purpose. These are the cheque of any national bank branch but the owner of the cheque has the account in any other bank. So this amount goes to other bank from NBP through clearing.
Outward clearing:
This process is totally opposite of inward clearing. In which cheques of other banks come in NBP for clearing. The person who receive the cheque of other banks having account in NBP in any branch. First cheque come in that branch then these are sent to main branch in which city the other bank branch. Main bank sent these to NIFT for clearing purpose. Then NIFT clear the cheque.
Intercity clearing:
The process in which the person who have the account in the any branch of NBP related to Multan or in main branch receive the cheque of other banks which are not in Multan outside the city like Lahore, Karachi, Islamabad and etc. In this process main branch also receive the cheque of NBP branches not situated in Multan for clearing because NBP not having the facility of online transaction. This bank has just facility of banks related transaction online.
Clearing register:
Two types of register use in clearing process one for intercity and one for short credit clearing. In intercity register who enter the amount of each cheque which we receive for
clearing and then total. In short credit register we enter the all amount of each cheque for clearing in which come federal and central board of revenue cheque. Divisional cheque of all NBP branches comes in this register. The register have the title name of the branch or person name if he has account in national bank main branch short credit number or account number cheque number and total amount. Every cheque of same branch enters separately.
Received cheque:
The cheque which NBP received of gives money to other bank. Person who have the cheque of NPB have the account in any other bank. So he transfers this amount to in his account.
Delivered cheque:
The cheque which are come in NBP for clearing. A person who receive the cheque of any other bank having the account in NBP branch. So this amount comes in NBP through clearing process.
Scroll of cheque:
In this process again enter the amount of all cheques related to federal and central cheques and enter separately with general cheque. But both totals again add to receive the full total amount. Next day date enters in this scroll because cheques sent to NIFT at evening time and clear next day.
Bundle cover:
In which we enter the total number of cheques or instruments then total amount signed by clearing incharge and it sent to NIFT.
NBP Saibaan
Product Items
Home Purchase Home Construction Home Renovation Purchase of Land + Construction Balance Transfer Facility (BTF)
Upto 35 Million 3 to 20 Years 85:15 (Maximum) Upto 35 Million 3 to 20 Years 85:15 (Maximum) Upto 15 Million 3 to 15 Years 80:20 (Maximum) Upto 35 Million 3 to 20 Years 85:15 (Maximum)
Home Construction
Financing Amount Financing Period Debt to Equity
Home Renovation
Financing Amount Financing Period Debt to Equity
Eligibility
Must be Pakistani Resident (National) Aged between 21 and 65 years at the time of application/disbursement of loan. Salaried Person, Self-employed professionals and businessmen. Property located in NBP approved localities. Service duration: Two years for salaried class Three years for selfemployed/business class.
Mark Up
SBP discount rate is +2% for all cases with insurance coverage, currently NBP Saibaan rate is 12%
Discount rate is +4% for all cases without insurance coverage, currently NBP Saibaan rate is 14%
Property Eligibility
Property must be located in positive areas defined by the Bank. The property should be purely residential. Purchase of property from parents, siblings, and spouse is not allowed. If a Govt. employee wants to purchase or construct house in the area which is not defined in positive areas, the case will not be approved until and unless he/she submits the undertaking given by his/her employer on NBP's prescribed format. Property insurance is mandatory and life insurance is optional
Government Section
In this department bank make collection of all government revenues taxes etc from the public. Bank also pays several payments to the customers through this section. There are two types of payment which is making by this department. Pensions Assignment accounts
There are several heads in the collection of payments which are as follows
Motor vehicle tax R-D (Court related) Revenue Agriculture tax Misc. (Health, educations)
P-2
It includes only Food department
District Government
Domicile Visa Protector
Central Government
Passport Misc. (Domicile, visa protect fee etc)
Foreign Remittances
To facilitate its customers in the area of Home Remittances, National bank of Pakistan has taken a number of measures to: Increase home remittances through the banking system Meet the SBP directives for timely and prompt delivery of remittances to the beneficiaries
New Features:
The existing system of home remittances has been revised/significantly improved and welltrained field functionaries are posted to provide efficient and reliable home remittance services to nonresident Pakistan at 15 overseas branches of the bank besides United National bank (the joint venture between NBP and UBL in UK) and Bank Aljazira, Saudi Arabia. Zero tariffs: NBP is providing home remittance services without any charges. Strict monitoring of the system is done to ensure the highest possible security.
Special courier services are hired for expeditions delivery of home remittances to the beneficiaries.
LETTER OF CREDIT
Foreign letter of credit is issued by foreign exchange department and it may be fund bases or Non fund bases. But mostly its work as exporter bank that is it responds to letter of credit. Letter of credit is a secure mode of payment to the exporters by the importers. National bank is providing this facility to its account holders as well as to other businessmen Bank pays the amount to the exporter on the behalf of importers on presenting the required documents. Through letter of credit bank is bound to pay exporter if the importer defaults. Letter of credit can be opened and negotiated through only from the list of 6000 banks of internationally.
The name if the carrier which will be used for the shipment of the good to the importer. The bill of shipment number.
Sight: In this case when all the documents of the goods are submitted to the bank the bank
then make payment of the LC.
Usance: In this case the payment is made to the party after 60, 90,120 days after the
submission of the documents. Note: If nature of payment is sight then the advising bank uses the discounting and pays the fewer amounts as compared to the orginal amount.
SWOT Analysis
Strength
National Bank of Pakistan provides the facility of debit card at minimum rate all over the Pakistan. Refreshment and lunch facilities for internees. 24 hours cash access and safe payment products for high value transaction. Vast Operational Network of 1448 branches nationwide. Efficient Home Remittance NBP also works as agent of SBP in those cities where the SBP branches are not working.
National Bank of Pakistan is providing postgraduate training & research facilities in the areas of business administration and management. Government revenue collection.
Weaknesses
Outdated systems & procedures Inadequate, poorly placed network technology Deep rooted bureaucratic approval Poor resource utilization Overstaffed with poor quality personnel No coordination among the employees. Victim of political, legal and socio-cultural pressures. National Bank of Pakistan main branch Multan still having the shortage of cash and deposits counters. Less motivated and old staff. Union has strong impact on performance of NBP. So the top management is unable to punish the violators and shrieks.
Opportunities
Introduction of new products and services Introduction of new technology and electric banking Due to efficient and veteran management group, NBP can also improve well and expand its foreign operation successfully. Muslims are consciously differentiating the Islamic-base banking from interestbase banking. That is why there is large caution of expansion. Mobile banking should be started to compete in market. NBP provide opportunity to utilize its skills and efficiencies in leasing business.
Threats
Establishment of new private financial institutions and expansion New products from private Pakistani and foreign banks Inability to change Low Quality of human resources
Pest Analysis
POITICAL
Privatization policy and deregulation. Impact of subsidized credit affecting National Bank. Employment practices, Unions, Associations. Political interference and harassment. Incidence of high taxation on banking industry.
ECONOMIC
Constraints in mobilization of public savings because of inflation. Staff cost. Operating costs. Bad Debts
TECHNICAL
Inadequate communication infrastructure. Inadequate computer facilities. Inadequate IT training.
forecast the future needs. of the policies being implemented. competent ones to be on the job.
of the Bank that has to think seriously. minimum, like the current situation. the commitment and efficiency of the employees.
I will provide vehicles to all employees and internees. I will establish the education institution only for children of NBP Employees free of cost.
Proper restriction and well organized dress of staff and as well as internees in the bank.
Hire well educated person to guide the customer as desire section. Providing our employees with performance related credit, promotion and reward, opportunities for personal growth and job satisfaction, profession planning and job security.