2nd Week Report

Name: Raja irfan haider. I.D: BBA-FA09-113/12C-LHR

Organization Name: (MCB) Muslim Commercial Bank. ( Mandi Bahaudin) Internship commencement date: 10th of July (Tuesday) Internship period: 10th July to 21st August. 2nd Week Duration: 16th July to 22nd July.

July 16th(Monday): At 9:00am i arrived at the bank. I came to know that on the basis of branch performance the audit team has announced a one step improvement of their position from MARGINAL to FAIR and now the branch has gain the B category standard. Usually the customers came there only for deposit and online funds transfer so i mostly had to handle these customers, that day i handled multiple deposit and online fund transfer customers as i did every day. During online funds transfer if the customer doesn’t have account in MCB he has to attach a NIC photocopy and also mention his Cell number. The new thing i learned this day was how to make a Demand Draft(D.D). Its form is same as of online fund transfer form the difference is in the slight content. In Demand Draft the beneficiary account number is not required but in online it is mandatory. Its main benefit is the low riskiness of having just a paper instead of bundle of money. The demand draft cost charges is 174PKR containing 150 commission and 24 TAX if the amount is less then and equal to 100,000PKR. If the amount exceeds the 100,000PKR limit that will be charged 0.1% extra charges along with commission and tax. I made 2 D.D that day because its main purpose is for business and in our area these are very low in number. Demand Draft can be deposited in any bank along with MCB it can be cashed from any bank . Demand Draft validity time is 6 months. That was the new task I learned that day. July 17th(Tuesday): I went to the Bank at 9:15am i went to my seat and handled all customers regarding Deposit and Online Funds Transfer that day I was asked to write down the cell phone of depositor along with its signature on order of head office. I dealt with customers whom accounts have been temporarily deactivated called Dormant Account. That dormant account is re activated by signing an application of dormant account and by depositing or withdrawing some amount from the account. The account becomes dormant if it is not transacted for about 6 months. The account becomes IN ACTIVE if transaction is not made for about 1 year. If account is not transacted for 10 years it becomes a UN-CLAIMED

property and is handed to the State Bank. I was also told how they give command in the software for cash and cheques. For cash deposit they wrote CASD. For cheque deposit CSQD. For cheque with drawl CQWR. The software used by MCB is SYMBOL it has 2 portals BT and EOC, that are used for data handling. And my day ended with these tasks in Bank. July 18th(Wednesday): On Wednesday i got information about different types of Cheques from Operational Manager. A cheque is said to be Cross Cheque if 2 line are made on the upper left corner and is said to be a Simple Crossing. The cheque is said to be Special Crossing if along with 2 line on left upper corner the Bearer is also crossed and it needs special attention. If the only Bearer is crossed the person whose name is written on the Pay blank space has sole authority to cash the cheque. Cross Cheque is only can be transferred and can’t be cashed. Then she told me about the cheque that become Dis Honour cheque, when the cheque is not cashed on the account that there is not enough cash in the account. The person holding that account can be reported to police it it happens several time, she told me that she has visited court as a witness on her complaint against those persons. The validity of cheque is 6 month it means it can be used for cash and transfer within this period. There were huge customers that day so we only discussed these few things and rest of time we all dealt with customers regarding online fund transfer, depodit , dormant account. July 19th(Thursday): On Thursday few customers came in the early morning for the D.D but instead of using online fund transfer form the operational manager filled another voucher having the name of PSO and COCA COLA after filling the voucher and signature of both operational manager and bank manger it was given to them as D.D. Than i was told that its a special D.D voucher for PSO and COCA COLA for the fast and smooth operation. Its a special service to both PSO and COCA COLA customers. So its a special business services to business customers. After that I asked them about the expanses that have been done by the staff in the Bank, how they are performed? She told me there is a limit for every branch to cover their expanses and this limit is different for different categories in which the bank lies. Expanse of small amount is performed over a voucher signed by operational manager. For higher amount maintenance and repair, special approvals have to be passed from Head Office. However if the expanse is not too big it can be signed by branch manager e.g 5000pkr expanse can be approved by bank manager but higher would require Head Office permission. That day i was told that its a Head Office special requirement that the new account opening task should be performed by the Bank Manager only because in this way customers can be served in a better way and satisfied. At 4:30 i went back home . July 20th(Friday): On Friday i went bank at regular time, that day our bank manger was on leave and therefore operational manager had to deal with the customers that want to open the new account so i also got a chance to see the process himself. Operational manger filled the

form and took the NIC photocopy of not only the person who wants to open the account but also is required to attach the photocopy of other single family member. After filling the form the manger gave me the KYC( know your customer) form which is bank copy where a detail of customer is filled and by only observing that form we can tell what type of customer is that.. they also give customer a special category serial number so that by only seeing that serial they can tell the customer specifications. They used 601 for salary person , 602 for business person and 603 for widow and other person. In this way they categorized their customers. Three types of accounts are opened commonly 1: single 2 : joint 3: either or survival. During account opening the specimen signature card is scanned and placed along with account information in the software for future safety of transactions made by that specimen and to avoid any fraud. NADRA hs provided BANK a special software for verifying the customers and to avoid any mal information regarding customer and its identity. Friday customer timing is short so we only performed some account opening task and rest of time i continued serving customers regarding deposit , on line funds transfer , demand draft .... i came back at 1:00 am from the bank. July 21st( Saturday) Official holiday. July 22nd(Sunday) Official holiday.