REPORT ON INDUSTRY VISIT

Reported Submitted by

Rohit Kumar Jaiswal

Roll No: PG/VUOAP01/MBA-IS/405

Bengal Institute of Business Studies

Company Visited: Bank Of India(Sasati Branch)

This project is submitted for the Partial Fulfilment Of Masters Of Business Administration
From Vidyasagar University

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 OBJECTIVE

Industrial visit has its own importance in a career of a student who is pursuing a professional degree. It is
considered as one of the tactical methods of teaching.

The main objective of the Industry Visit are as follows :

 It is to provide technical knowledge with the technological development in the industry and to
understand the gap between the theoretical and practical knowledge that could be passed in future.
 It is to provide students an insight regarding internal working of companies.
 To help student gain practical knowledge.
 To keep students, update on the latest trends in the industries.
 We know building relationship with companies always help to gain a good job in future. After visiting
an industry students can gain a combined knowledge about both theory and practical.

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 DECLARATION

I hereby declare that the report entitled “Industrial visit to Bank Of India (Sasati Branch)” is being
submitted by me as my first semester industrial visit project in the partial fulfilment of the requirement for
the award of masters of Business Administration. The study is based on secondary source of data as well as
on primary data/information source.

The material borrowed from similar titles other sources and incorporated in the report has been duly
acknowledged.

The matter embodied in this project report has not been submitted to any other university or institution
for the award of degree. This project is my original work and it has not been presented earlier in this
manner. This information is purely of academic interest.

Rohit Kumar Jaiswal

(Signature) Date:

(Bengal Institute of Business Studies)

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 ACKNOWLEDGEMENT

This project is a result of mentorship from my esteemed guide Professor V. Viswanath Sir.
I would like to thank the organization, “Bank Of India” and the Branch Manager, Mr. Arka Dutta, for
allowing me to have first person experience of rural banking and support for government financial
inclusion schemes.

In the end I would like to thank the entire faculty of BIBS for contributing and nurturing this project and
nudging me in all the right directions without which it would not have been possible for me to complete
this project.

Thanks again to all who helped me.

Signature of Student

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 TABLE OF CONTENTS

S.NO. TOPICS PAGE NO.

1 Introduction 6

2 About--- Bank Of India 7

3 Activities on the day of visit 9

4 Session organised by the Bank 10

5 Things Learnt after attending the session 15

6 Business Competitors 20

7 Initiatives and Awards 22

8 Conclusion 24

9 Bibliography 25

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 INTRODUCTION

Bengal Institute of Business Studies had organized an industrial visit on 20th February , to

Bank Of India,Sasati Branch located at Vill+PO-Sasati,Shyampur,Howrah .

The visit was organized by HOD of PGPEX Batch Prof. V.Vishwanath.

The Interactive session was taken up by Mr. Arka Dutta , (Branch Manger, BOI Sasati) followed by Mr.
Ananda Chowdhury (Loan & Advances,BOI) , Mr. Kaustabh Ghosh (Investment & Treasury Head) and
Ms. Debopriya Ghosh ( Admin Head ,BOI ) .

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 ABOUT---- BANK OF INDIA

HISTORY

Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from

Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalised

along with 13 other banks.

Beginning with one office in Mumbai, with a paid-up capital of Rs.50 lakh and 50 employees, the

Bank has made a rapid growth over the years and blossomed into a mighty institution with a strong

national presence and sizable international operations. In business volume, the Bank occupies a

premier position among the nationalized banks.

The Bank has over 5100+ branches in India spread over all states/ union territories including

specialized branches. These branches are controlled through 69 Zonal Offices and 13 NBG Offices.

There are 45 branches/ offices abroad which includes 23 own branches, 1 representative office

and 4 Subsidaries(20 branches) and 1 joint venture.

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PRESENCE

The Bank came out with its maiden public issue in 1997 and follow on Qualified Institutions

Placement in February 2008.

While firmly adhering to a policy of prudence and caution, the Bank has been in the forefront of

introducing various innovative services and systems. Business has been conducted with the

successful blend of traditional values and ethics and the most modern infrastructure. The Bank has

been the first among the nationalised banks to establish a fully computerised branch and ATM

facility at the Mahalaxmi Branch at Mumbai way back in 1989. The Bank is also a Founder Member

of SWIFT in India. It pioneered the introduction of the Health Code System in 1982, for evaluating/

rating its credit portfolio.

Presently Bank has overseas presence in 18 foreign countries spread over 5 continents – with 45

offices including 4 Subsidiaries, 1 Representative Office and 1 Joint Venture, at key banking and

financial centres viz., Tokyo, Singapore, Hong Kong, London, Paris, New York and DIFC Dubai.

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 ACTIVITIES ON THE DAY OF VISIT

On our visit to the branch, we were welcomed by the Branch Manager Mr. Arka Dutta in the conference
room at 11:00 am. He briefed us about the officials who were going to conduct the sessions on various
topics.

At 11.30 pm, Ms. Debopriya Ghosh, Branch Operations Head & Admin, BOI met us and we had been
informed about Operational activities in the branch. She detailed to us different types of Bank accounts,
Cash handling,Remittances and many more concepts discussed. This session ended at 1pm.

Ms. Debopriya Ghosh covered various topics such as:

 Beginning of the Day (BOD)

 Cash handling
 Types of Bank accounts
 Types of remittances
 End of the DAY (EOD)

At 2 pm , Mr. Kaustabh Ghosh , Investment & Treasury Head gave us some basic insights of Mutual
Fund,SIPS . Past Covid Scenarios and Post Covid Scenarios , Compounding Effect , Majority Customers of
Mutual in India .

 Why to Invest?
 When to Invest?
 Risks involved in investment.
 What are the aspects we should keep in mind while investing.

Lastly , Mr. Ananda Chowdhury, addressed us about Loans and Advances , explained about the lending
scenarios in rural areas, the pros & cons. He gave some important tips on career growth .

At 3.00 pm, I was greeted by the Branch Manager, Mr. Arka Dutta with a motivational speech and a
parting gift.
I took exit from the branch with great hands-on experience and high hopes for a great career in the
financial sector.

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 SESSIONS ORGANISED BY THE BANK

1st Session:

Operational Activities of the Bank

The First session was addressed by Ms. Debopriya Ghosh, Branch Operational
Head, Bank Of India,Sasati. She initiated with, Why he chose Banking as his
career?. Along with various reasons, he mentioned Integrity, Prestige, Customer
Valuation, and Social Respect as some reasons.
She briefed us about the various operational activities in the branch. She
mentioned that at the start of each day, a brief meeting of all staff in the branch
is conducted which is known as the beginning of the Day (BOD). This happens daily at 9.45 am. After this
meeting, she showed the Cash Vault and as per RBI mandate, they transfer the requisite amount from Vault
account to the Bank’s Teller account. If the balance in the vault is low, they borrow it from the currency
chest. Their chest is maintained at Howrah Branch.
Furthermore, She detailed to us about

1. Cash handling,
2. Locker operations,
3. RTGS, NEFT,
4. Account opening procedures at the branch,
5. The Online cheque clearance system,
6. Gratuity account and
7. Nomination.
He mentioned that, 3 things in banking must be taken more care of, 1. Clients, 2. Cash, 3. Senior Citizen
customers.
At the end of the session, he talked about End of Day activity in banks where they tally cash in the vault
and tally it with their transaction vouchers and if it is matched, they close the branch and call it a day.

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2nd Session :

OPERATIONS – Investment Banking

The Second session was conducted by Mr. Kaustabh Ghosh , Investment &
Treasury Head. He gave us a overall basic insights of Mutual Fund. Firstly he
introduced what is mutual fund , how mutual works for normal individual . Then
he continued the discussion with SIP.
SIP - A SIP is a systematic approach to investing and involves allocating a small pre-
determined amount of money for investment in the market at regular intervals
(usually every month). The SIP route is the preferred way of investing in stocks and Mutual Funds because it
allows you to participate in the market while managing risk better.
How do SIP works :
 Rupee Cost Averaging
 Compounding

ADVANTAGES OF INVESTING IN SIP

Financial Discipline: The regularity of SIPs breeds financial discipline. It encourages forced savings and
helps you build a corpus without cramping your lifestyle.

Flexibility: SIPs provide greater flexibility in investing. You can increase or decrease the amount of
investment at any time.
Convenience: SIPs are a hassle-free mode of investing. You can easily do it online with a one-time set of
instructions. You SIPs will automatically start getting accumulated.

Lower risk: Lump sum investments may expose you to greater capital risk. A SIP spreads your investment
over time and reduces the risk to capital and will help you navigate volatility better.

Mr. Ghosh quoted on line says as “Patience is the main key to gain MFs” as SIP are long term and the
investor who waits more gets the return in higher numbers.
Then he discussed about the market scenarios in today’s world .
How to add value in the market ?
 How much time you spent in the market is important .
In which type of Funds does Indian customers invest their money?
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1 in 5 families are likely to prefer investments in equities or mutual funds in 2022. 10 per cent said that
equities are their preferred investment option in 2022, 31 per cent said mutual funds, 4 per cent said gold
and 22 per cent said bank fixed deposits.
Covid situations in Indian Market :
The individual who waited till covid end and didn’t taken their money off they have actually got double
returns as per the investment.
Mutual funds remain the most attractive tool of investment during COVID-19 followed by equities as returns
are healthy in this asset class. It said about 72 per cent of the respondents have opted for mutual funds post
the first pandemic and almost 63 per cent express happiness about their decision to invest in mutual fund.

As the discussion continues he explains what should be the role of the manager in front of a customer, as in
this high tech world many of the customers knows many things about mutual fund so to understand your
customer well and to answer his questions in a professional way a manager should have a high level of
knowledge of the industry.

Qualities of Good Fund Managers :

 Best fund managers have access to timely information, strategies, trading ideas, and sound
investment principles. Their aim is to deliver inflation beating returns for their investors.

 Best fund managers are market experts with in-depth knowledge on financial products. They have
invaluable experience in portfolio management and strategy which allows them to make informed
timely decisions on behalf of investors.

 Best fund managers give better returns compared to others but with minimal risk. A good fund
manager will not blow up your account. This can be gauged through the funds risk-adjusted returns
like Sharpe ratio or Sortino ratio. A good fund manager will take calculated risks.

 Best fund managers will define their process and will stick to it. Best fund managers are a by-product
of best investment processes. They place emphasis on building a fund’s investment process to avoid
personal biases.

 Best fund manager will generally churn less. They will not get in and get out of investments too soon
unless their mandate requires them to do so.

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3rd Session:
Loans and Advances

The last session was addressed by Mr. Ananda Chowdhury,Loan & Advances
Head Bank Of India,Sasati. He gave us an idea of the various loan activities in
the branch is involved in. Mainly, lending can be classified into two categories
-1)Priority Sector Lending and 2) Non-Priority Sector Lending. Generally, for
this branch more emphasis is given on Priority Sector Lending as it is in rural
area.

Priority Sector Lending includes the following:

(i) Agriculture
(ii) Micro, Small and Medium Enterprises
(iii) Export Credit
(iv) Education
(v) Housing
(vi) Social Infrastructure
(vii) Renewable Energy
(viii) Others (loans not exceeding INR 50000, loans to distressed persons not exceeding INR 100000, loans
sanctioned to State Sponsored Organisations for Scheduled Castes and Scheduled Tribes)
RBI issues common guidelines for lending to Priority Sector which banks are required to follow. These
guidelines cover rate of interest; service charges; receipt, sanction, rejection, disbursement Register; issue
of Loan Application Acknowledgement.
RBI also issues targets for banks for lending to Priority Sector lending.
Apart from these loan emphasis is given on Retail Loans too.

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As a small business owner, cash flow matters when it comes to growing your business. In order to make
ends meet, purchase a new retail space, inventory or a company vehicle, you might need to take out a
retail loan. Similarly, your customers might sometimes make use of retail loan products in order to make
your goods or services more affordable. Whether you need the loan for yourself or want to offer financing
options to your customers, retail loans are likely to be part of your business plan at one time or another.
Retail Loan Products
The banking industry offers a wide variety of retail loan products to help make doing business a bit more
accessible., These products include:

 Credit cards
 Signature loans
 Mortgages
 Car loans
 Business lines of credit
 Microloans
 Equipment loans
 Inventory loans
 Small business loans

4th Session:
Awards and Recognition
In the final session Mr. Arka Dutta,Branch Head informed us about the financial
performance of the branch and the bank. The Branch has a business of Rs. 100
crores (Total Deposits of Rs. 75 crores and Total advances of Rs.25 crores) which is
remarkable in this area when compared to nearby banks. We were informed about
various initatives, achievements, and awards attained by the bank. He then
motivated and encouraged us to join the banking industry and take it to a new
milestone and greeted us with a parting gift.

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THINGS WE LEARNT AFTER ATTENDING THE SESSIONS

Financial Statement Analysis

We learn to analyse the P/L statement and the Balance Sheet of the firms who have applied for the loan.
Before sanctioning of loan we need to examine various factors and ratios from the statements such as

 Cash Flow
 Current Ratio
 Quick Ratio
 Debt Equity Ratio
 Interest Service Coverage Ratio
 Turnover Ratios
These ration helps us to judge the status of a business, how smoothly/badly the business is running. With
the help of these ratios we will sanction term loans and other retail loans.
For the cash credit loan we look to MPBF and total transactions of the firm/individual and accordingly their
quantum of loan is calculated.
For Credit card and personal loan we check the last 3years IT Returns/Form16 or 6months salary slip.

Facilities Provided By The Bank

1.Payment and Remittance Services:

This is another important function of banks that enables us to transfer funds from one account to
another, from one city to another. Alongside, modern banking systems allow us to make the direct
online money transfer, pay utility bills, collection of cheques, and more. With the evolution of
technology, payments can be made and collected from any part of the world.

2. Overdraft:

Overdraft services allow account holders to withdraw more than what their deposits allow. Though,
interest is charged on the overdrawn amount. This is one of the many ways banks lend money to
their customers.

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3. Currency Exchange:

Imagine if there were no banks where you would acquire foreign currency for travel or trading
purposes. The banks provide foreign currency exchange with local currency in an easy manner.

4. Consultancy:

Modern banks have a holistic approach and they aim to provide all kinds of services to their
customers that involve their financial situation. Modern banks are hiring financial and legal experts
to provide advice and solutions about customers wealth, investment, and trading.

5. Online Banking:

In the digital world, every bank is striving to make space in online banking world. With the help of
the internet, banks allow their customers to perform banking activities through their official website.
This allows the customer to access their account 24/7 without having to visit a physical branch.

6. Mobile Banking:

Similarly, banks are also providing mobile banking services wherein customers can perform
banking activities through their smartphone apps.

7. Home Banking:

Home banking is another rising trend wherein banking transaction can be made from home
directly. These services require an internet connection or access to online banking.

8. Credit and Debit Cards:

Bank offers credit and debit cards to their customers that can be used to purchase products and
services, and even borrow or withdraw money. This is one of the most important steps towards a
cashless society.

9. Lockers:

Bank also offer safe deposit to their clients to store their valuables safely, at minimal fees.

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10. Money Transfer:

There are several ways bank offer to transfer money from one part of the world to the other with
the help of demand drafts, money orders, cheques, online banking, and more.

11. Investment Banking:

They help them make the best of their wealth by offering several investment products .

Some Unique Features Of This Bank Which I Liked

DOOR STEP BANKING

Door Step Banking is one of the key action points of the roadmap for banking reforms under the

EASE (Enhanced Access & Service Excellence) Reforms brought out by the Department of

Financial Services. PSB Alliance Door Step Banking Service is a facility introduced in this regard to

cater to both financial & non-financial banking needs of the customers of all Banks under a single

umbrella.

Bank of India is one of the member Banks under the PSB Alliance Doorstep Banking Service

initiative to implement the Doorstep Banking Services through Authorized agencies for all the

customers.

SERVICES UNDER PSB ALLIANCE DOORSTEP BANKING SERVICE

Account holders can book the desired service out of below mentioned services

NON FINANCIAL TRANSACTIONS (Live For First Phase Of Launch)

 Pick up of negotiable instruments (cheque/draft/pay order etc.)

 Request account statement

 Pick up new cheque book requisition slip

 Pay order, term deposit receipt, acknowledgement etc.

 Acceptance of 15G/15H forms

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  TDS/form 16 certificate issuance

 Delivery of pre-paid instrument/gift card

 Issuing standing instructions

FINANCIAL TRANSACTION

 Cash deposit

 Cash withdrawal

Mobile Banking Payments

Bank of india online services (At your convenience, any time anywhere) BOI Mobile Banking

Bank of India’s new Mobile Banking Application – BOI Mobile

It is safe, secure and convenient channel for Anytime Anywhere Banking. You can now access your

account, view m-Passbook, transfer funds and much more. Simply follow below on-boarding steps

to get started.

UPI

 UPI refers to Unified Payment Interface Solution and it is an interoperable payment system

which enables quick payment using a unique identifier – Virtual Payment Address and is

linked with your Bank account. UPI Solution offers multiple features such as simplified on-

boarding, availability of different transaction types, multiple ways to execute payment and

seamless user experience. UPI has emerged as a preferred retail payment option within the

digital payment ecosystem.

 Payment can be done from Mobile, Web or other Application by knowing just unique remitter

VPA. Similarly, payment can be received by account holder by giving a unique identifier.

Unified Payment Interface thus allows making payment without knowing Beneficiary Account

details

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 Simplifying Issuance Infrastructure – The virtual addresses/payment addresses in

conjunction with mobile as "what you have" factor helps payment providers to create virtual

token-less infrastructure.

 Mobile as Acquiring Infrastructure – Mobile phone as the primary device for payment

authorization can completely transform the acquiring infrastructure to be easy, low cost and

universal

 Enabling 1-click 2-Factor Authentication – UPI allows all transactions to be at least 2-FA

using mobile and second factor (PIN or Biometrics) makes all transactions compliant with

the existing regulatory guidelines.

 End-User Friendly – You can make or receive payments with ease and security to/from

friends, relatives, merchants, pay bills, etc. all using their mobile phones without sharing

banking credentials. Alerts and Reminders, consolidation of multiple banking relationship via

single mobile app, use of special purpose virtual addresses, etc. simplifies end-users

experience.

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BUSINESS COMPETITORS

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 External Rating, Branch Networks and Raising of Capital

External Rating of Bank of India

Domestic Rating

Rating Agency Rating

Infomerics AAA (Stable)
CRISIL Ltd. AA+ (Stable)
ICRA Ltd. AA+ (Stable)
India Ratings AA+ (Stable)

Overseas Rating

Rating Agency Rating

Fitch Rating BBB- (Long) / F3 (Short) (Stable)

Global Branch Networks

Branch Network Dec-2021 Sep-2022 Dec-2022

Domestic Branches 5,089 5,102 5,118
- Metro 990 986 989
- Urban 812 820 822
- Semi Urban 1,457 1,457 1,454
- Rural 1,830 1,837 1,851
- Digital Banking Units - 2 2
Overseas Branches 23 21 21
Total No. of Branches 5,112 5,123 5,139

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 INITIATIVES AND GOING FORWARDS
Bank has launched “Supply Chain Finance solution customer portal” to

increase business through Channel Financing.

“Star Suvidha Express Personal Loan scheme (SSEPL)” launched

exclusivelyfor salaried class and pensioners drawing pension through our
Bank.

Bank has launched “Star CPSU Scheme” for catering to the

requirements ofCPSUs & Central Government

Bank has completed “Technical Integration for leads generation” sourced by

housing.com, cardekho.com, 4B Network and CIBIL triggers.

Robust Recovery mechanism through initiatives like “Intensive Recovery

Day”, “Branch Adalat” monthly mega E-auction and involving in-house staff
such as “Sanjeevani”, “Saksham-2” put in place.

Bank is under process of on boarding “GST Sahay App for invoice financing”
and “GEM Sahay App Order Based financing”.

Bank is in under process of implementation of Co-lending through “Cred

Avenue”

Bank has announced FY 22-23 to be the year of digitalization.

Bank has launched “New Merchant app” incorporating latest digital payment features.
Bank has inaugurated two DBUs in East Singhbhum and Khurda to deliver the
Digital Banking products & services.

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 AWARDS AND ACCOLADES

Bank of India has received “National Award for Outstanding Performance

in SHG Bank linkage by DAY NRLM MoRD” for FY21-22.

Bank of India has been awarded with “Rajbhasha Kirti Puraskar-3rd prize”
by MoHA-GOI for FY21-22.

rd
Bank has been recognized as “3 best performing bank in Agriculture
Infrastructure Fund Scheme” under Atmanirbhar Scheme, a flagship
programme of GOI.

Bank of India has awarded with “Best Fintech collaboration (Runner-up)”

and “Best IT Risk and Management (Runner-up)” at IBA’s 18th Annual
Banking Technology Conference.

nd
Bank of India has secured “2 position among all banks( Public and Private)
under NPS Diwas Recognition Programme” conferred by PFRDA.

Bank of India has won “Shine & Succeed” award from PFRDA for good
performance in APY Campaign.

rd
Bank of India has secured 3 rank under Digidhan Mission setup by MeitY
(Ministry of Electronics and Information Technology) for promotion of Digital
Payments.

Bank of India has been awarded with “Best MSME Bank-Runner Up”,
“Best Branding-Winner” and “Best Bank for promoting Social Schemes –
Winner” in “MSME Banking Excellence Awards 2021” by Chamber of Indian
MSME.

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 CONCLUSION

To conclude, banking plays an important role in economic growth and development. In India,

PSBs have been in the forefront of mobilizing resources from far flung rural areas as well as

extending banking services in the remotest parts of the country. The burden of social agenda has

largely been shouldered by PSBs without any compensation. Therefore, in the interest of

maintaining credibility of PSBs which account for nearly 70 percent of banking activity in the

country, the government is justified in recapitalizing the PSBs regularly. However, there is need to

undertake research on evolving appropriate norms, granular, for evaluating performance of

different banks operating in India without stifling flow of credit to productive sectors.

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 BIBLIOGRAPHY

 www.bankofindia.co.in
 www.wikipedia.co.in
 VIJETA Magazine of Bank Of India.

THANK YOU

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