PROFILE OF THE STUDENT

PALLAVI SHARMA

Address: 27-28 A Shrikant Palace Colony, Indore (M.P.)

Phone: +917974919598

Email: pallavi2000.ps@gmail.com

Date of Birth: December 19, 2000.

CAREER OBJECTIVE

To secure a challenging position in a reputable organization to expand my learnings, knowledge and skills.

TECHNICAL SKILLS

 Microsoft Office (MS Word, Excel, PowerPoint, Internet, etc)

 Programming (Java, Android Programming Language)
 Hardware troubleshooting
 Network troubleshooting
 Web designing (HTML)
 Tally accounting

PERSONAL SKILLS

 Excellent written and verbal communication skills

 Highly organized and efficient
 Ability to work independently or as part of a team
 Bilingual (Fluent in English and Hindi)
 Good in hospitality

RELEVANT COURSEWORK

 Article writing
 Public speaking

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ACADEMIC QUALIFICATIONS

Program Institution CGPA Year

B.Com(Hons Prestige Institute Of Management And Appearing Expected qualification by
) Research, 2021
Indore
XII Agarwal Public School, 6.4 2018
Indore
X Agarwal Public School, 8.2 2016
Indore

REFERENCES
Will be provided upon request.

DECLARATION
I solemnly declare that all the above information is correct to the best of my
knowledge and belief.

Date: 19/12/2019
Place: Indore (Pallavi Sharma)

JOINING REPORT

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 INTRODUCTION OF THE ORGANISATION

Name of the organisation- STATE BANK OF INDIA

Address of the organisation- Personal Banking Branch

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 25/3, Ranka Mension, Yeshwant Niwas Road,

Indore (M.P.) 452003

Phone- 0731-5298081

Name of the Branch Manager- Mr. Anand Singh

Status of the Organization- Financial Institution

Goods And Services Rendered- Involved in Banking Functions i.e. Inflow (Deposits) And Outflow
(Withdrawal)

Account Services- Including Savings Accounts, Current Accounts, Deposits Account, Tax Saving
Accounts.

Loan Facility- Home Loans, Vehicle Loans, Personal Expense Loans, Holiday Loans, Business Loans.

Locker Facility- For Ornaments and Valuables

Investment Facilities -Insurance, Mutual Funds.

Infrastructure –The STATE BANK OF INDIA branch has a computerized environment with over 25
bankers. The branch is divided in two sections one is wholly for insurance and investments and the
other one serves for the loans, cash transactions, queries. The branch has a separate locker room and
record room (the record room keeps evenly arranged records of customers). It also has a cash room
which stores cash received from customers on a daily basis which is then sent to STATE BANK OF INDIA
REGIONAL BUSINESS OFFICE.

Picture of the Branch Manager:

TRAINING ASSIGNMENT LIST

1. Cheque Truncation System(CTS)

2. Front Counter Banking

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 3. Drop Box Maintenance

4. Workings In YONO

5. Despatch Register Maintenance

6. KYC Guidelines (For Lockers And New Customers)

7. Cheque Clearing

8. Other Works- Spreadsheet, Symphony- Locker Rents(New And Surrendered Lockers), Car Loans,
ATM Cards And Cheque Books,

LEARNING FROM TRAINING

1. CHEQUE TRUNCATION SYSTEM(CTS):

Cheque Truncation System (CTS) is a cheque clearing system undertaken by the Reserve Bank of India
(RBI) for quicker cheque clearance. As the term proposes, truncation is the course of discontinuing the

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flow of the physical cheque in its way of clearing. Instead of this an electronic image of the cheque is
transferred with vital essential data.

Cheque Truncation System brings elegance to the whole activity of cheque processing & clearing and
offers numerous benefits to banks like time and cost savings, cost effectiveness, including human
resource rationalization, business process re-engineering and enhanced customer service.

Highlights of Cheque Truncation System Cheques

1. All CTS cheques hold a watermark, with ‘CTS-INDIA’, which is visible when held against any light
source

2. Pantograph (wavelike design) with hidden / embedded word ‘VOID’ become clearly visible in
photocopies of a cheque

Process followed by the financial institutions:

 Collection of Cheques: The bank branches initially accepts cheques from its customers and
sends these accumulated instruments to their service bank.
 Capturing of Data: At the service bank, the essential information related to the cheque
including the cheque no., MICR code, drawee’s name, etc. is maintained along with a scanned
image of the cheque. This data is then sent to the Clearing House through a secured Clearing
House Interface.
 Security of Data: Public Key Infrastructure (PKI) is used to ensure data security. Moreover, while
transferring the information and cheque’s image to the Clearing House (from where it is sent to
the drawee bank), this data is encrypted and duly signed by the presenting bank.
 Clearing House Interface: CHI is a gateway which connects and facilitates the transfer of data
between the presenting bank and the drawee bank.

 Presentation Clearing: The Clearing House analyzes the data and determines the settlement
amount.
 Processing of Payment: It then forwards the data and image to the drawee bank for payment
processing. In case, the cheque is rejected for some reason, the drawee bank returns the data
to the Clearing House and then to the presenting bank through return clearing session.
 Completion of Cycle: After the successful execution of the presentation clearing and the return
clearing session, i.e. after payment processing or returning of data, the process completes.

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 2. Front Counter Banking:
Front counter banking includes dealing directly with customers. Front-line staff detect and stop
fraudulent transactions in order to prevent losses at a bank (counterfeit currency and cheques, identity
theft, confidence tricks, etc.). The position also requires tellers to be friendly and interact with the
customers, providing them with information about customer’s accounts and bank services. sorters, and
paperwork used for completing bank transactions.

These transactions include:

 Check cashing, depositing, transfers
 Savings deposits, withdrawals
 Issuing negotiable items (cashier's checks, traveler's cheques, money orders, federal draft
issuances, etc.)
 Payment collecting
 Promotion of the financial institution's products (loans, mortgages, etc.)
 Business referrals (trust, insurance, lending, etc.)
 Cash advances
 Savings bond redemption. Paper savings bonds can no longer be purchased, only electronic
bonds are available for purchase now, so banks can no longer issue bonds.
 Resolving customer issues
 Balancing the vault, cash drawers, ATMs, and TAUs
 Batching and Processing Proof Work (On-Us/Not-On-Us Checks, Payment Coupons, Counter
Slips, etc.)
 May include ordering products for the customer (cheques, deposit slips, etc.)

3. Cheque Drop box :

A locked box under the control of an Authorized official easily accessible to the customer to drop their
cheque for collection from another bank through clearing. The box is opened at regular intervals and

acted upon by the Bank Officials. This facility helps the customer in saving their valuable time in waiting
and handling over the instrument across the Bank counters.

Here the customer is required to exercise care in ensuring that the instrument is crossed “account
payee” and the challan attached is properly and correctly written to ensure that it gets credited to the
payees' account.

Risk is not ruled out in the process. With the internet and digital banking in place cheque dropbox is
slowly moving towards extinction. The banks process these cheques according to their clearing
process.

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 4. You Only Need One (YONO):
YONO (You Only Need One) is an integrated digital banking platform offered by State Bank of
India (SBI) to enable users to access a variety of financial and other services such as flight, train, bus
and taxi bookings, online shopping, or medical bill payments. YONO is offered as a Smartphone app for
both Android and iOS.

YONO was launched on Friday 24 November 2017 by Arun Jaitley, the Finance Minister of India.

YONO offers services from over 60 e-commerce companies including online shopping, travel planning,
taxi booking, train booking, movie ticket booking, online education and offline retail with special
discounts. YONO also offers conventional mobile banking services such as bank account opening, fund
transfers, cashless bill payments, and loans. The Smartphone app can be used to make ATM
withdrawals.

As per my learnings, The customer first needs to register themself in yono from their respective SBI
branch along with their account and CIF number. The branch once issues an ID password to the
respective account holder, the holder gets eligible to use the YONO banking app.

5. Despatch register maintenance:

A register is maintained to keep a record of all outward letters. This register is called despatch register.
The despatch register serves as an evidence of letters sent and exercise a control over expenditure on
postage and stamps.

The despatch register has seven columns to record:

 Serial No. of the letters sent out.

 Date on which the letter is sent.
 The person to whom letter is sent.
 Subject matter of the letter sent in brief.
 No. of enclosures, if any.
 Nature of posting whether registered or ordinary.
 The amount of stamps used.
6. KYC Guidelines:
Know Your Customer, alternatively known as know your client or simply KYC, is the process of a
business verifying the identity of its clients and assessing their suitability, along with the potential risks
of illegal intentions towards the business relationship. The term is also used to refer to the bank
regulations and anti-money laundering regulations that govern these activities. Know your customer
processes are also employed by companies of all sizes for the purpose of ensuring their proposed
customers, agents, consultants, or distributors are anti-bribery compliant, and are actually who they
claim to be. Banks, insurers, export creditors and other financial institutions are increasingly

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demanding that customers provide detailed due diligence information. Initially, these regulations were
imposed only on the financial institutions but now the non-financial industry, fintech, virtual assets
dealers, and even the non-profit organizations are liable to oblige. The objective of KYC guidelines is to
prevent businesses (financial and non-financial) from being used, intentionally or unintentionally, by
criminal elements for money laundering activities. Related procedures also enable businesses to better
understand their customers and their financial dealings. This helps them manage their risks in a well
judged manner. Today not only the banks but also different online businesses can implement KYC

Banks should frame their KYC policies incorporating the following four key elements:

a) Customer Acceptance Policy;

b) Customer Identification Procedures;
c) Monitoring of Transactions; and
d) Risk Management

7. Cheque Clearing:
Cheque clearing or bank clearance is the process of moving cash (or its equivalent) from the bank on
which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement
of the cheque to the paying bank, either in the traditional physical paper form or digitally under
a cheque truncation system. This process is called the clearing cycle and normally results in a credit to
the account at the bank of deposit, and an equivalent debit to the account at the bank on which it was
drawn, with a corresponding adjustment of accounts of the banks themselves. If there are not enough
funds in the account when the cheque arrived at the issuing bank, the cheque would be returned as a
dishonoured cheque marked as non-sufficient funds.

When a bank customer deposits a cheque, which may be drawn on any bank, the bank would credit
the depositor's account with the amount of the cheque. However, the amount so credited is “not
available” to the depositor until the cheque has been cleared by the paying bank.

For cheques drawn on a customer of the same bank, the bank would, usually on the next business day,
ensure that the cheque is in order and debit the account of the drawer, and the cheque would be
taken to have been cleared. A cheque is not in order if, for example, the date is invalid, the drawer's
signature is not like the one held by the bank, the wrong number of signatories have signed the
cheque, etc. There must also be sufficient cleared funds in the account before the drawer's account is
debited.
Cheques drawn on another bank (termed "the issuing bank" or “paying bank”) need to be "presented"
to the other bank before the deposit bank receives payment to cover the amount credited to the
depositor's account. In the absence of the paying bank notifying the deposit bank of the “special
clearance” of the cheque, for example, following a request from the deposit bank, the funds become

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available after the passing of an agreed “clearance period”, commonly three business days, when the
depositor's account is described as comprising “cleared funds”.
If the cheque is not in order, or if there are not enough cleared funds in the account when the cheque
arrived at the issuing bank, the cheque would be returned as a dishonoured cheque marked
appropriately, such as “non-sufficient funds” or “present again”.

8. Workings in Symphony software and spreadsheet:

Symphony Software
IBM Spectrum Symphony, previously known as IBM Platform Symphony and Platform Symphony, is
a high-performance computing (HPC) software system developed by Platform Computing, the company
that developed Load Sharing Facility (LSF). Focusing on financial services, Symphony is designed to
deliver scalability and enhances performance for computationally intensive risk and analytical
applications. The product lets users run applications using distributed computing.

Version 4.0, Platform included a developer edition with no restrictions or time limits. Symphony
Developer Edition is a free high-performance computing (HPC) and grid computing software
development kit and middleware.  It has been described as "the first and only solution tailored for
developing and testing Grid-ready service-oriented architecture applications".

Spreadsheet software:
A spreadsheet is a computer application for organization, analysis and storage
of data in tabular form. Spreadsheets were developed as computerized analogs of paper
accounting worksheets. The program operates on data entered in cells of a table. Each cell may contain
either numeric or text data, or the results of formulas that automatically calculate and display a value
based on the contents of other cells. A spreadsheet may also refer to one such electronic document.
Spreadsheet users can adjust any stored value and observe the effects on calculated values. This makes
the spreadsheet useful for "what-if" analysis since many cases can be rapidly investigated without
manual recalculation. Modern spreadsheet software can have multiple interacting sheets, and can
display data either as text and numerals, or in graphical form.
Spreadsheets have replaced paper-based systems throughout the business world. Although they
were first developed for accounting or bookkeeping tasks, they now are used extensively in any
context where tabular lists are built, sorted, and shared.

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 9. Other learning:

 LOCKERS: Bank lockers are relatively safe for a person to store valuables for a period of
time. Bank Lockers are small boxes kept in a room that is guarded heavily and has solid
iron doors or concrete walls around it. To open the locker a pair of key is needed, one key is
with the bank and the other is with the customer. Both keys have to be used together to open
the locker. Both private and public sector banks provide the facility of lockers today. All these
banks go by the guidelines of Reserve Bank of India (RBI). The locker facility is also called as safe
custody.

Safe Deposit Lockers are available in various sizes .Based on the needs, a customer can choose
the size of his locker.
The amount depends on various factors such as size of locker, urban or semi urban, public
sector or private banks etc.

Following are the locker charges in STATE BANK OF INDIA:

Large size locker- annual rent rupees 7080
Medium size locker- annual rent rupees 3540

 ACCOUNTS: A bank account is a financial account maintained by a bank for a customer.

Bank Accounts are classified into four different types. They are

1) Current Account: Current account is mainly for business persons, firms, companies, public
enterprises etc and is never used for the purpose of investment or savings.

2) Savings Account: Savings Account is meant for saving purposes. Any individual either single
or jointly can open a savings account.

3) Recurring Deposit Account: Recurring deposit account or RD account is opened by those who
want to save certain amount of money regularly for a certain period of time and earn a higher
interest rate.

4) Fixed Deposit Account: In Fixed Deposit Account (also known as FD Account), a particular
sum of money is deposited in a bank for specific period of time. It’s one time deposit and one
time take away (withdraw) account.

Steps to Open a Savings Account with State Bank of India(SBI)

To open a SBI savings account at any SBI Bank branch, customers will have to follow the steps
mentioned below.
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1. Visit the SBI branch closest to you.
2. Request the bank executive for an account opening form.
3. On the account opening form, applicants will have to fill in both the parts.
 Form 1 - Name, address, signature, various other details and assets.
 Form 2 - Customers will have to fill in this part if they do not have a PAN card.
4. Ensure that all the fields have been entered and are correct. The details mentioned in the application
form should match those mentioned in the KYC documents that have been submitted.
5. The customer will now have to make an initial deposit of Rs.1,000.
6. As soon as the bank completes the verification process, the account holder will be granted a free
passbook and cheque book.
7. Simultaneously, customers can submit the internet banking form.

Steps to Open a Savings Account in State Bank of India Online:

1. Visit the State Bank of India homepage.

2. Click on “apply now”.
3. Choose “savings accounts”.
4. Fill in the application form - name, address, date of birth and other various details - and click on
submit.
5. Once the details have been submitted, the bank will intimate the applicant to visit the branch will
the requisite KYC documents - proof of identity and address.
6. On submission of the documents, the bank will initiate the verification process.
7. Following approval, the account will be activated within 3-5 bank working days.

Documents Required to Open SBI Savings Account

To be eligible for the SBI Savings Account, customers will have to submit the following documents
along with account opening form.
1. Proof of identity - Passport, Driving license, Voter’s ID card, etc.
2. Proof of address - Passport, Driving license, Voter’s ID card, etc.
3. PAN card
4. Form 16 (only if PAN card is not available)
5. 2 latest passport size photographs
Eligibility for State Bank of India Savings Account

To be eligible to open a savings account in State Bank of India, customers need to meet certain criteria.
1. Should be a citizen of India.
2. The individual should be 18 years and above to be eligible.
3. In the case of minors, the parents or legal guardian of the minor can open the account on their
behalf.
4. The applicant is required to have valid identity and address proof that is Government approved.
5. Following approval from the bank, the applicant will have to make an initial deposit - depending on
the minimum balance requirement of that particular savings account he/she has chosen.
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 State Bank of India Savings Account Welcome Kit

Following approval of the bank, the customer will receive a savings account welcome kit. The kit will
contain:
1. SBI ATM debit card
2. The PIN will be sent in a separate post.
3. SBI cheque book of 10 leaves.
4. Pay-in slips
One will have to ensure that the welcome kit is sealed on arrival.

 LOANS: A bank loan is the most common form of loan capital for a business. A bank loan provides
medium or long-term finance. The bank sets the fixed period over which the loan is provided (e.g.
3, 5 or 10 years), the rate of interest and the timing and amount of repayments

 NEGOTIABLE INSTRUMENTS: A negotiable instrument is a document guaranteeing the

payment of a specific amount of money, either on demand, or at a set time, whose payer is usually
named on the document.

 LOAN DOCUMENT TRACKING SHEET: Loan document tracking solution is a single application

that manages the complete lifecycle of a loan and all of the corresponding documents. ... It also
ensures the organization remains compliant by proactively notifying the lender of required or
missing documents, or documents set to expire.

 ATM CARD: An ATM card is a payment card or dedicated payment card issued by a financial

institution which enables a customer to access automated teller machines (ATMs) in order to
perform transactions such as deposits, cash withdrawals, obtaining account information, etc.

OVERALL EXPERIENCE

Being an intern I was also given an opportunity to attend the retirement ceremony of the senior
cashier Mr. Jagdish Joshi. The retirement ceremony was held on 1 st July 2019. Mr. Joshi along with

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his family and friends were invited in the branch, he was honoured with a bouquet and some gifts
on behalf of the entire STATE BANK OF INDIA team. It was a great experience to be a part of it.

While I had many useful experiences at THE STATE BANK OF INDIA personal banking branch, I feel
that I still need to develop my confidence at customer interaction.
I received an amount of Rupees 5100 on the last day of my work. (A copy of DEMAND DRAFT
provided from bank is attached at the end.)

Overall, I had a fantastic experience. I feel extremely fortunate that I had the opportunity to
experience general banking fundamentals with STATE BANK OF INDIA.

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