VISION STATEMENT 2013-2020

To be among the top five nationalised banks in terms of business

volumes and sustained profitability with global recognition guided
by high standards of governance and ethics; and emerge as the
Most Preferred Banking Partner to unlock value to all its
stakeholders.
CORE VALUES
Customer Centricity:
Good people to grow with
Touching Hearts and Spreading Smiles
Honesty , Integrity, Fairness & Transparency
Build Leaders for Industry
Team of Skilled & dedicated Employees
Innovation & Risk Appetite
Green Banking

MISSION STATEMENT 2013-2020

Deliver the best of competitive products in terms of quality,
range, utility and cost effectiveness
Optimize our HR resources through training, exposure,
mentoring and incentive, relying on the soft touch instead of
the big stick.
Develop quality bankers who would rise to be future leaders of
the industry.
Contribute to countrys economic growth through dedicated
efforts and customer focus.
Streamline the process of service delivery from time to time to
meet emerging requirements.
Nurture a climate of creative problem-solving to resolve
customers grievances with alacrity ensuring that the Bank is
regarded as Customer Centric.
Emphasize a policy-oriented and rule-driven culture of
compliance to meet evolving requirements.
Engineer CRM (Customer Relationship Management) and insights
gained for further enhancement of products and service quality.
Expand IT infrastructure to deliver all banking services from
one tap irrespective of customer location.
Adopt a multi disciplinary approach to facilitate future growth
through the evolution of banks within the Bank

Time Deposits When money is deposited with a tenure , it cannot be withdrawn before its maturity fixed
at a particular time. Such deposits are called Time deposits or Term deposits. The most common
example of Time deposits is Fixed Deposit. All time deposits are eligible for interest payments. Interest
rate depends upon the tenure and amount of deposit. This rate varies from bank to bank. The interest rate
is generally higher for time deposits of longer tenure. On the basis of their nature,

Fixed deposits A fixed rate of interest is paid at fixed, regular intervals

Re-investment deposits Interest is compounded quarterly and paid on maturity, along with the principal
amount of the deposit. In the Flexi Deposits amount in savings deposit accounts beyond a fixed limit is
automatically converted into term-deposits.

Recurring deposits Fixed amount is deposited at regular intervals for a fixed term and the repayment of
principal and accumulated interest is made at the end of the term. These deposits are usually targeted at
persons who are salaried or receive other regular income. A Recurring Deposit can usually be opened for
any period from 6 months to 120 months.

Further, banks also provide a combination of demand and time deposits in the form of various products.
Examples of such products include Recurring Deposits, Flexible RDs, Multiplier FDs, Special Term
deposit accounts etc.
http://www.gktoday.in/blog/types-of-deposits-accounts-in-india/

Demand deposits If the funds deposited can be withdrawn by the customer (depositor / account holder) at
any time without any advanced notice to banks; it is called demand deposit. One can withdraw the funds
from these accounts any time by issuing cheque, using ATM or withdrawal forms at the bank branches.
The money as demand deposit is liquid and can be encashed at any time. The ownership of demand
deposits can be transferred from one person to another via cheques or electronic transfers. There is no
fixed term to maturity for Demand Deposits. The demand deposits may or may not pay interest to the
depositor. For example, while we get an interest on savings accounts; no interest is paid on current
accounts. As mentioned above, there are two types of demand deposits viz. savings accounts and current
accounts.
http://www.gktoday.in/blog/types-of-deposits-accounts-in-india/
Current Account A current account is always a Demand Deposit and the bank is obliged to pay the money
on demand. The Current accounts bear no interest and they account for the smallest fraction among the
current, saving and term deposits. They provide the convenient operation facility to the individual / firm.
The cost to maintain the accounts is high and banks ask the customers to keep a minimum balance.
http://www.gktoday.in/blog/types-of-deposits-accounts-in-india/

Saving Accounts Savings deposits are subject to restrictions on the number of withdrawals as well as on
the amounts of withdrawals during any specified period. Further, minimum balances may be prescribed in
order to offset the cost of maintaining and servicing such deposits. Savings deposits are deposits that
accrue interest at a fixed rate set by the commercial banks. Difference Between Current Accounts and
Savings Accounts
http://www.gktoday.in/blog/types-of-deposits-accounts-in-india/
CASA Deposits CASA Deposits refers to Current Account Saving Account Deposits. As an aggregate the
CASA deposits are low interest deposits for the Banks compared to other types of the deposits. So banks
tend to increase the CASA deposits and for this they offer various services such as salary accounts to
companies, and encouraging merchants to open current accounts, and use their cash-management
facilities. The Bank is High CASA ratio (CASA deposits as % of total deposits) are in a more comfortable
position than the Banks with low CASA ratios , which are more dependent on term deposits for their
funding, and are vulnerable to interest rate shocks in the economy, plus lower spread they earn.
http://www.gktoday.in/blog/types-of-deposits-accounts-in-india/
NRO, NE(E)RA and FCNA(A) Accounts There are several kinds of accounts available for non resident
Indians , Persons of Indian Origin and Overseas Citizens of India. They are as follows: Non Resident
Ordinary Accounts: (NRO): Any person resident outside of India can open this account. Normally, when a
resident becomes a non resident, his domestic rupee account gets converted into the NRO account. This
helps the NRI to get his credits which accrue in India, for example rent or interest from investments.
http://www.gktoday.in/blog/types-of-deposits-accounts-in-india/

Non-Resident (External) Rupee Account: (NR(E)RA This account was introduced as NRE scheme in
1970. Its a Rupee account and the NRI can remit money to India from the funds abroad. This means that
depositor is exposed to the Currency rates risk.
http://www.gktoday.in/blog/types-of-deposits-accounts-in-india/
Foreign Currency Non-Resident Account: (FCNR) Foreign Currency Non-Resident Account Bank or
FCNR (B) was first introduced in 1993. It replaced the existing FCNR (A) scheme. This account is opened
by the NRIs in 6 designated currencies as follows: US Dollar (USD) Great Britain Pound (GBP) Euro
(EUR) Japanese Yen (JPY) Canadian Dollar (CAD) Australian Dollar (AUD)
http://www.gktoday.in/blog/types-of-deposits-accounts-in-india/
Please note that FCNR account is opened ONLY in the form of Term Deposits and NOT in the form of
Demand Deposits. The term is from 1 year to 5 years. Repatriation of the principal and interest is
allowed for repatriation after maturity. Interest is paid on maturity, in the same currency of the deposit. For
deposits of tenure up to one year simple interest is paid and for deposits of tenure beyond one year the
interest is compounded at half yearly rests. The maturity proceeds inclusive of interest is fully repatriable.
The banks may decide the interest rates after approval from RBI and within the limits fixed by RBI. If a
person has NRE account and wishes to transfer to FCNR, it is permissible without prior approval of the
RBI.
http://www.gktoday.in/blog/types-of-deposits-accounts-in-india/

Deposit Insurance

Deposit Insurance in India The idea behind the Deposit Insurance is to boost the faith of the public in the
banking system, and provide protection against the loss of deposits to a significant extent. In India, the
bank deposits are covered under the insurance scheme provided by Deposit Insurance and Credit
Guarantee Corporation (DICGC), a wholly owned subsidiary of the Reserve Bank of India. DICGC is a
statutory body, created by an act of parliament in 1961.

Which banks are covered under Deposit Insurance Scheme? All commercial & cooperative Banks (state,
district and Urban cooperative banks) are insured by DICGC; however there are a few exceptions. The
following are not covered under deposit insurance scheme: Primary Agricultural Credit Societies (PACS)
Cooperative banks from Meghalaya Cooperative Banks from Union Territories of Chandigarh,
Lakshadweep and Dadra and Nagar Haveli. This implies that: All commercial banks including branches of
foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC.
All State, Central and Primary cooperative banks, also called urban cooperative banks, functioning in
States / Union Territories are covered under the Deposit Insurance System. At present all co-operative
banks other than those from Meghalaya, Chandigarh, Lakshadweep and Dadra and Nagar Haveli are
covered under the deposit insurance system of DICGC. Primary cooperative societies (PACS) , which are
village level cooperatives and disburse short term credits in the country are NOT insured by the DICGC.
So around 95000 PACS in the country are out of coverage of the DICGC. What kinds of deposits are
insured? The DICGC insures all deposit accounts including savings, fixed, current, recurring, except:
Deposits of the Foreign Governments Deposits of the Central and State Governments. How deposit
Insurance works? When a bank covered by Deposit insurance scheme of DICGC fails, or undergoes
liquidation or is merged with another bank; the DICGC pays the amount due to depositors via the officially
appointed liquidator in a time bound manner. All claims are settled by DICGC within two months from the
receipt of the claim from the liquidator. What is maximum amount insured under deposit insurance? The
maximum amount per depositor insured is Rs. 1 Lakh including Principal and Interest. This means that If
a person has principal amount of Rs. 91000 and interest Rs. 7,000 then the amount insured by DICGC is
Rs. 98,000. However, if the same person has deposits Rs. 98000 and interest is Rs. 8000 then , the
amount insured by the DICGC would be Rs. 1 Lakh. The insurance cost is borne by the bank which is
insured. The DGCIC charges 10 paise per Rs. 100 as insurance premium. If a person has different
accounts in different branches of the same bank, then the deposits in different branches are totalled and
the maximum cover of 1-lakh is applied. In case of the joint accounts and other accounts one had, all
deposit accounts one holds in his / her name in the same bank are clubbed together to apply the
maximum cover. This implies that if someone has savings, fixed, current and recurring deposit accounts
in different branches of the bank, he / she will get only Rs. 1 Lakh if the bank fails. However, if one
maintains deposits in different capacities in different banks; the Rs. 1 Lakh limit is applied separately for
each
bank.

Automated Clearing House

Automated Clearing House (ACH) is an electronic network for financial transactions in the United
States. ACH processes large volumes of credit and debit transactions in batches. ACH credit
transfers include direct deposit, payroll and vendor payments. ACH direct debit transfers include
consumer payments on insurance premiums, mortgage loans, and other kinds of bills. Debit
transfers also include new applications such as the point-of-purchase(POP) check conversion pilot
program sponsored by NACHA. Both the government and the commercial sectors use ACH
payments. Businesses increasingly use ACH online to have customers pay, rather than via credit or
debit cards.[citation needed]
ACH is a computer-based clearing and settlement facility established to process the exchange of
electronic transactions between participatingdepository institutions.
Rules and regulations that govern the ACH network are established by NACHA and the Federal
Reserve. In 2015, this network processed nearly 24 billion ACH transactions with a total value of
$41.6 trillion.[1] Credit card payments are handled by separate networks.
The Federal Reserve Banks, through the FedACH system, are collectively the nation's largest ACH
operator. In 2005, they processed 60% of commercial interbank ACH transactions; the remaining
40% was processed by theElectronic Payments Network (EPN), the United States' only privatesector ACH operator. EPN and the Reserve Banks rely on each other for the processing of some

transactions when either party to the transaction is not their customer. These interoperator
transactions are settled by the Reserve Banks.

Uses of the ACH payment system

Bank treasury management departments sell this service to business and government
customers

Business-to-business payments
Direct debit payment of consumer bills such as mortgages, loans, utilities, insurance
premiums, rents, and any other regular payment

Direct deposit of payroll, Social Security and other government payments, and tax refunds

E-commerce payments

Federal, state, and local tax payments

Non-immediate transfer of funds between accounts at different financial institutions (when a

real-time transfer is required, a wire transfer using a system such as the Federal
Reserve's Fedwire is employed instead)

Charitable Donations.

SEC codes
Some common Standard Entry Class (SEC) codes: AT
ARC
Accounts receivable conversion. A consumer check converted to a one-time ACH debit. The
difference between ARC and POP is that ARC can result from a check mailed in whereas
POP is in-person.[2]
BOC
Back office conversion. A single entry debit initiated at the point of purchase or at a manned
bill payment location to transfer funds through conversion to an ACH debit entry during back
office processing. Unlike ARC entries, BOC conversions require that the customer be
present, and that the vendor post a notice that checks may be converted to BOC ACH
entries.
CBR
Corporate cross-border payment. Used for international business transactions, replaced by
SEC Code IAT.
CCD
Corporate Credit or Debit Entry. Used to consolidate and sweep cash funds within an entity's
controlled accounts, or make/collect payments to/from other corporate entities.

CIE
Customer Initiated Entries. Use limited to credit applications where the consumer initiates the
transfer of funds to a company for payment of funds owed to that company, typically through
some type of home banking product or billpayment service provider.[5]
CTX
Corporate trade exchange. Transactions that include ASC X12 or EDIFACT information.[2]
DNE
Death notification entry. Issued by the federal government.
IAT
International ACH transaction. This is a SEC code for cross-border payment traffic to replace
the PBR and CBR codes. The code has been implemented since September 18, 2009.[4]
PBR
Consumer cross-border payment. Used for international household transactions, replaced by
SEC Code IAT.[4]
POP
Point-of-purchase. A check presented in-person to a merchant for purchase is presented as
an ACH entry instead of a physical check.
POS
Point-of-sale. A debit at an electronic terminal initiated by use of a plastic card. An example is
using your debit card to purchase gas.
PPD
Prearranged payment and deposits. Used to credit or debit a consumer account. Popularly
used for payroll direct deposits and preauthorized bill payments.
RCK
Represented check entries. A physical check that was presented but returned because of
insufficient funds may be represented as an ACH entry.
TEL
Telephone-initiated entry. Oral authorization by telephone to issue an ACH entry such as
checks by phone. (TEL code allowed for inbound telephone orders only. NACHA disallows
the use of this code for outbound telephone solicitations unless a prior business
arrangement with the customer has been established.)
WEB
Web-initiated entry. Electronic authorization through the Internet to create an ACH entry.
XCK
Destroyed check entry. A physical check that was destroyed because of a disaster can be
presented as an ACH entry.

TYPES OF LOAN
A loan is a lump sum of money that you borrow with the expectation of paying it
back either all at once or over time, usually with interest. Loans are typically a
fixed amount, like $5,000 or $15,000. The exact amount of the loan and interest
rate varies depending on your income, debt, credit history, and a few other
factors.
There are many different types of loans you can borrow. Knowing your loan
options will help you make better decisions about the type of loan you need to
meet your goals.

Open-Ended and Closed-Ended Loans

Open-ended loans are loans that you can borrow over and over. Credit
cards and lines of credit are the most common types of open-ended loans. Both

of these loans have a credit limit which is the maximum amount you can borrow
at one time. You can use all or part of your credit limit depending on your needs.
Each time you make a purchase, your available credit decreases. As you make
payments, your available increases allowing you to use the same credit over and
over as long as you abide by the terms.
Closed-ended loans are one-time loans that cannot be borrowed again once
theyve been repaid. As you make payments on closed-ended loans, the balance
of the loan goes down. However, you dont have any available credit you can use
on closed-ended loans. Instead, if you need to borrow more money, have to apply
for another loan and go through the approval process over again.
Common types of closed-ended loans include mortgage loans, auto loans,
andstudent loans.

Secured and Unsecured Loans

Secured loans are loans that rely on an asset as collateral for the loan. In the
event of loan default, the lender can take possession of the asset and use it to
cover the loan. Interests rates for secured loans may be lower than those for
unsecured loans.
The asset may need to be appraised to confirm its value before you can borrow a
secured loan. The lender may only allow you to borrow up to the value of the
asset. A title loan is an example of a secured loan.
Unsecured loans dont require an asset for collateral. These loans may be more
difficult to get and have higher interest rates. Unsecured loans rely solely on your
credit history and your income to qualify you for the loan. If you default on an
unsecured loan, the lender has to exhaust collection options including debt
collectors and lawsuit to recover the loan.

Conventional Loans
When it comes to mortgage loans, the term conventional loan is often
used.Conventional loans are those that arent insured by a government agency
like the Federal Housing Administration (FHA), Rural Housing Service (RHS), or

the Veterans Administration (VA). Conventional loans may be conforming,

meaning they follow the guidelines set forth by Fannie Mae and Freddie Mac.
Non-conforming loans dont meet Fannie and Freddie qualifications.

Loans to Avoid
Certain types of loans should be avoided because they are predatory and take
advantage of consumers. Payday loans are short-term loans borrowed using
your next paycheck as guarantee for the loan. Payday loans have notoriously
high annual percentage rates (APRs) and can be difficult to pay off. If youre in a
financial crunch, seek alternatives before taking out a payday loans.
Advance-fee loans arent really loans at all. In fact, theyre scams to trick you
into paying money. Advance-fee loans use different tactics to convince borrowers
to send money to obtain the loan, but they all require that the borrower pay an
upfront fee to obtain the loan. Once the money is sent (usually wired), the
lender typically disappears without ever sending the loan.

Banks are those institutions which conduct the business purely on profit motive. Banks
receive surplus money from the people who are not using it and lend to those who need
it for productive purpose. When we speak of abank, we generally mean a commercial
bank. Commercial banks are those institutions which conduct the business purely on
profit motive. Commercial banks receive surplus money from the people who are not
using it and lend to those who need it for productive purpose.
A commercial bank is a dealer in short and medium-term credit. It borrows money from
a group of people at a lower rate of interest and lends to the other group of people at
some higher rate of interest. The difference between the two rates of interest is the
profit of the bank.

1. Definition Of A Commercial Bank:

Some important definitions of commercial bank are given below.

1.1. Professor G. Crowther:

"A bank is a firm which collects money from those who have it spare. It lends to those
who require it."

1.2. Professor Parking:

"A bank is a firm that takes deposits from households and firms and makes loans to
other household and firms.

2. Functions Of Commercial Bank:

In modern time, the functions of a modem commercial bank are manifold. The functions
of a bank may broadly be divided into two parts.

Basic or primary functions.

Secondary functions.

3. Primary Functions Of Commercial Bank

Basic or primary functions of a commercial bank are very important in nature. These
functions provide t base of the whole operation of the bank. The basic functions of a
commercial bank are as under

3.1. Accepting deposits:

Accepting deposits is the most important function of all commercial banks. Deposit is
the basis of commercial banks' activities. In order to attract The general public to
deposit their surplus money in the bank, the bank offers to deposit money in any of the
following accounts:
3.1.1. CURRENT OR DEMAND ACCOUNT:

Current or demand account is one where the amount

can be withdrawn at any time by the depositor.
3.1.2. SAVING ACCOUNT:

Saving account is suitable for non-trading and small income earners. Saving account
helps inmobilization of the saving of low income people. The commercial banks pay
interest on this type cf deposits.

3.1.3. FIXED DEPOSIT ACCOUNT OR TERM DEPOSIT ACCOUNT:

Fixed deposit account is the account in which amounts are deposited for a certain fixed
period of time. The deposits cannot be withdrawn before the expiry of this fixed period.
The longer the period of deposits, the higher is the rate of profit.
3.1.4. FOREIGN CURRENCY ACCOUNT:

Foreign currency account is opened only in

authorized branches. A foreign currency account may be a foreign currency saving
account or foreign currency term deposit account. Foreign currency account in Pakistan
can be opened in USA Dollar, UK Pound, German Mark, Japanese Yen, etc. This account
is exempted from all taxes and deduction. No income tax or Zakat is deducted from this
account.

3.2. Advancing Loans:

The second important function of commercial bank

is advancing loans to the individuals, businessmen and government bodies. The loans

are granted out of deposited money. Generally, a commercial bank grants short-term
loans.
Banks grant loan in any of the following forms:
3.2.1. OVERDRAFT:

Overdraft is a short-term loan granted by commercial banks to their account holders.

Under this type of loan, the customers are allowed to draw more than what they have
in their current account up to a certain limit. The excess amount overdrawn is called
overdraft.
3.2.2. CASH CREDIT:

Cash credit is a very common form of loan

granted by commercial banks to businessmen and industrial units against the security
of goods. The loan granted under this head is credited to current account opened in the
name of borrower. The borrower can withdraw money through cheques according to his
requirement. The interest is charged on the amount actually withdrawn by the
borrower.

3.2.3. LOANS:

Commercial banks grant loans for short and

medium-term to individuals and traders against the security of movable and immovable
property. The amount of loan is credited to the borrower's account. Interest is charged
on the entire loan sanctioned.
3.2.4. DISCOUNTING BILLS OF EXCHANGE:

Banks provide short term lean to the businessmen by discounting bills of exchange.
Discounting the bills of exchange means the arrangements of making payments
before maturity of bills of exchange. The payment made by the bank to the holder of
bill of exchange before its maturity is the amount of loan. The discount charged is the
earning of the bank.

4. Secondary Functions Of A Commercial Bank:

The secondary functions of commercial bank can be classified under the following
heads.
1.

Agency functions

2.

General utility functions

3.

Miscellaneous functions

4.1. Agency Functions:

The banks render important services as agent on behalf of their customers in return for
a small commission. When banks act as agent, law of agency applies. The agency
functions or services of bank are as follows:

4.1.1. COLLECTION OF CHEQUES:

Commercial banks collect the cheques, bills of

exchange, etc, on behalf of their customers. Banks collect local and outstation cheques
and bills of exchange through clearing house facilities provided by the central bank,
4.1.2. COLLECTION OF INCOME:

The commercial banks collect dividends, interest on

investment, pension and rent of property due to the customers. When any income is
collected by the bank, a credit voucher is sent to the customer for information.
4.1.3. PAYMENT OF EXPENSES:

The banks make payment of insurance premiums, rent, trade subscription, school fee
and other obligation of the customers. When any expense is paid by the bank, a debit
voucher is sent to the customer for information.

4.1.4. DEALER IN SECURITIES:

The banks carry out purchase and sale of securities on behalf of their customers. Banks
do it well because they are aware of the market conditions.
4.1.5. ACTS AS TRUSTEE:

The banks act as trustee to manage trust property as per instructions of property
owners. Banks are required to follow the terms and conditions of trust deed.
4.1.6. ACTS AS AN AGENT:

Commercial bank sometimes acts as an agent on behalf of its customers at home or

abroad in dealing with other banks or financial institutions.
4.1.7. OBEYS STANDING INSTRUCTIONS:

Sometimes, customer may order his bank to do something on his behalf regarding the
conduct of his account. This written order is called standing instruction. The bank being
the agent of its customer obeys the standing instructions.
4.1.8. ACTS AS TAX CONSULTANT:

Commercial bank acts as tax consultant to its client. The commercial bank prepares
general sales tax return, income tax return, etc. Tiles the same with tax authorities.

4.2. General Utility Functions:

Commercial bank performs different utility functions for their customers. When bank
performs utility functions, it does not act as an agent of the customers. The general
utility functions are as follows:

4.2.1. PROVIDES LOCKERS FACILITIES:

Commercial banks provide lockers facilities to its

customers for safe custody of Jewelery, shares, securities and other valuables. This has
minimized the risk of losing due to theft.
4.2.2. ISSUE OF TRAVELER'S CHEQUE:

Bank issues traveler's cheques to the customers for traveling in and outside the
country.
4.2.3. FOREIGN EXCHANGE:

Commercial banks deal in foreign exchange. This

enables the individuals and businessmen to obtain foreign currency in exchange of their
home currency. For dealing in foreign exchange, commercial banks have to obtain
permission from the central bank.

4.2.4. TRANSFER OF MONEY:

Commercial banks provide facilities for the transfer

of money to any place within and outside the country. The funds are transferred by
means of draft, telephonic transfer, electronic transfer etc.
4.2.5. FINANCES FOREIGN TRADE:

A commercial bank finances foreign trade by accepting foreign bills of exchange. Bank
also issues letter of credit on behalf of its customers to facilitate foreign trade.
According to Sir John Poget:
"The issuing of letters of credit is the basic function of a bank."
4.2.6. TRADE INFORMATION:

Commercial banks collect and provide trade information and tender advice to its
customers about financial mafters. Issues credit cards: Banks issue credit cards to their
trustworthy and valued customers. This facilitates the customers to pay for their
necessities of life.
4.2.7. MODARABA COMPANY:

The commercial banks act as Modaraba and leasing companies under the provisions of
Modaraba Companies Ordinance, 1980.
4.2.8. PURCHASE PTCS:

Commercial banks underwrite or purchase Participation Term Certificate (PTCs), Term

Finance Certificates (TFCs) and Modaraba Certificates. This helps the companies to raise
their capital.

4.2.9. FINANCIAL STANDING:

Commercial banks answer reference letters regarding the financial standing and
business reputation of customers. Banks provide this information with great care and
utmost secrecy.

4.3. Miscellaneous Functions:

Commercial banks perform the following miscellaneous functions:
4.3.1. COLLECTION OF UTILITY BILLS:

Commercial banks provide facilities for the collection of utility bills from general public
on behalf of government bodies. This facilitates the public to pay utility bills in time.
4.3.2. ZAKAT COLLECTION:

Commercial banks collect Zakat from their account holders and deposit the same into
Central Zakat Fund, according to Zakat and Usher ordinance - 1980.
4.3.3. HAJJ SERVICES:

The commercial banks provide free Hajj sendees to the intending pilgrims. Banks
receive Hajj applications. Banks also facilitate to form Hajj groups. Banks make
necessary arrangements for the training of intending pilgrims,

4.3.4. QARZ-E-HASNA:

The commercial banks provide Qarz-e-Hasna to deserving patients for medical

treatment and to students for higher studies within the country and abroad. The Qarze-Hasna is refund Ale in easy installments,
4.3.5. ELECTRONIC BANKING AND E-BANKING:

Electronic banking is offering improved services to the

customers as fellows: