General Banking Service Level and Customer Satisfaction of Rupali Bank Limited

Introduction:

Generally by the word “Bank” we can easily understand that the financial institution deals with money. But there are different types of banks like; Central Banks, Commercial Banks, Savings Banks, Investment Banks, Industrial Banks, Co-operative Banks etc. But when we use the term “Bank” without any prefix, or qualification, it refers to the ‘Commercial banks’. Commercial banks are the primary contributors to the economy of a country. So we can say Commercial bank is a profit-making institution that holds the deposits of individuals & business in checking & savings accounts and then uses these funds to make loans. For these people and the government is very much dependent on these banks as the financial intermediary. As, banks are profit-earning concern; they collect deposit at the lowest possible cost and provide loans and advances at higher cost. The differences between two are the profit for the bank.

Banking sector is expanding its hand in different financial events every day. At the same time the banking process is becoming faster, easier and the banking arena is becoming wider. As the demand for better service increases day by day, they are coming with different innovative ideas & products. In order to survive in the competitive field of the banking sector, all banking organizations are looking for better service opportunities to provide their fellow clients. As a result, it has become essential for every person to have some idea on the bank and banking procedure.

 Origin Of the Study:

 After completing my graduation as a student of BBA, Atish Dipankar University of Science and Technology (ADUST), I like to do Internship in a reputed Bank, which would be helpful for my future professional career. I got the opportunity to perform my internship in the Rupali Bank Ltd. It was a Three months long practical orientation program.

This report is originated as the requirement of Rupali Bank Ltd and as well as my degree.

Objective Of the Report:

 The primary objective of this report is to provide overviews on the function of Rupali Bank ltd. Objectives of the study are summarized in the following manner:

• Give an overview of Rupali Bank.
• To explore General Banking activities of Rupali Bank Ltd.
• To explore Foreign Exchange activities of Rupali Bank Ltd.
• To gain comprehensive knowledge about the present General banking scenario of Rupali Bank.
• To identify the existing problems of the stated department.
• Giving suggestion for betterment

Methodology:

Both primary and secondary source of data were used to prepare this report. This report has been prepared on the basis of experience gathered during the period of internship from 17 July, 2011 to 17 October, 2011. For preparing this report, I have undergone group discussion, collected data and sent some questionnaires to the selected Officers and interviewed with some of them. I also studied different circulars and files of the bank.

Scope Of the Report:

 As I was sent to Rupali Bank Ltd. Zingera Branch, the scope of the study is only limited to this branch. The report covers its overall department wise function, structure and performance. The report also covers details about Rupali Bank Ltd.

Limitations:

The present study was not out of limitations. But as an intern it was a great opportunity for me to know the banking activities of Bangladesh specially Rupali Bank ltd. Some constraints are appended bellow:

• As some of the fields of banking are still not covered by our courses, there was difficulty in understanding some activities.
• Every organization has their own secrecy that is not revealed to others. While     collecting data i.e. interviewing the employees, they did not disclose much information for the sake of the confidentiality of the organization.
• Since the bank personals were very busy, they could provide me very little time.
• Another problem is that creates a lot of confusions regarding verification of data. In some cases more than one person were interviewed to clarify each concept as many of the bankers failed to provide clear-cut idea about the job they perform.
• The clients were too busy to provide me much time for interview.

Organizational Profile

Historical Background of Rupali Bank ltd.

Rupali Bank Ltd. was constituted with the merger of 3 (three) erstwhile commercial banks i.e. Muslim Commercial Bank Ltd., Australasia Bank Ltd. and Standard Bank Ltd. operated in the then Pakistan on March 26, 1972 under the Bangladesh Banks (Nationalization) Order 1972 (P.O. No. 26 of 1972), with all their assets, benefits, rights, powers, authorities, privileges, liabilities, borrowings and obligations. Rupali Bank worked as a nationalized commercial bank till December13, 1986.
Rupali Bank Ltd. emerged as the largest Public Limited Banking Company of the country on December 14, 1986.

Organization  

1.                   i.       Identify each market segment.
2.                 ii.       Write down the requirements.
3.               iii.       Communicate the requirements.
4.               iv.       Organize processes.
5.                 v.       Organize physical spaces.

Customer care

1.               vi.       Meet the customer’s expectations.
2.             vii.       Get the customer’s point of view.
3.           viii.       Deliver what is promised.
4.               ix.       Make the customer feel valued.
5.                 x.       Respond to all complaints.
6.               xi.       Over-respond to the customer.
7.             xii.       Provide a clean and comfortable customer reception area.

Communication

1.                xiii.  Optimize the trade-off between time and personal attention.
2.                xiv.  Minimize the number of contact points.
3.                  xv.  Provide pleasant, knowledgeable, and enthusiastic employees.
4.                xvi.  Write documents in customer-friendly language.

Front-line people

1.              xvii.  Hire people who like people.
2.            xviii.  Challenge them to develop better methods.
3.                xix.  Give them the authority to solve problems.
4.                  xx.  Serve them as internal customers.
5.                xxi.  Be sure they are adequately trained.
6.              xxii.  Recognize and reward performance.

Leadership

1.            xxiii.  Lead by example.
2.            xxiv.  Listen to the front-line people.
3.              xxv.  Strive for continuous process improvement.

Finally, I have measured the efficacy of Rupali Bank Ltd’ customer services by using the progress of the Bank, because the efficacy of customer service is related with progression of operation. I have analyzed the following factors to measure the efficacy of customer services:

 Mission of Rupali Bank ltd.

• To provide excellent quality customer service
• To become a trusted repository for customer’s money and their financial advisor
• To display team spirit and professionalism
• To have a sound capital base
• To be the finest bank in the banking area
• To maintain corporate and business ethics

Vision of Rupali Bank ltd.

To become a leading banking institution and to play a pivotal role in the development of the country. The Bank is committed to satisfying diverse needs of its customers through an array of products at a competitive price by using appropriate technology and providing timely service so that a sustainable growth, reasonable return and contribution to the development of the country can be ensured with a motivated and professional work-force.

 Marketing Strategies of Rupali Bank

To attain the above vision and mission Rupali Bank follow the following Marketing Strategies:

1        The main strategy of the bank is using Rupali Banking System to attract its market.

2        Providing efficient customer service

3        Maintaining corporate and business ethics

4        Being trusted repository of customers’ and their financial advices

5        Making its products superior and rewarding to the customers

6        Display team spirit and professionalism

7        Sound capital base

8        Enhancement of shareholders wealth

9        Fulfilling its social commitments by expanding its charitable and humanitarian activities

10    Providing high quality financial services in export and import trade.

11    Building tight personal relationship with customers and clients

 Objectives of Rupali Bank

RBL is always ready to maintain the highest quality of services by upgrading banking technology prudence in management and by applying high standard of business ethic through its established commitment and heritage.

• RBL is committed to ensure its contribution to national economy by increasing its profitability through professional and disciplined growth strategy for its customer and by creating corporate culture in international banking area.
• The objective of RBL is not only to earn profit but also to keep the social commitment and to ensure its co-operation to the person of all level, to the businessman, industrialist specially who are engaged in establishing large scale industry by consortium and the agro-based export oriented medium & small scale industries by self inspiration.
• RBL is committed to continue its activities in the new horizon of business with a view to developing service oriented industry and culture of morality and its maintenance in banking.
• RBL has been working from its very beginning to ensure the best use of its creativity, well disciplined, well managed and perfect growth.
• RBL is always pre-occupied to encourage the inventors for purchasing its share by creating the opportunity of long-term investment and increasing the value of share through prosperity as developed day by day.

 Goals of Rupali Bank

• The goal of Rupali Bank ltd is not only to earn profit but also to keep the social commitment and to ensure its cooperation to the person of all level, to the businessman, industrialist specially who are engaged in establishing large scale industry by consortium and the agro-based export oriented medium and small scale industries by self inspiration.
• Rupali Bank ltd is always ready to maintain the highest quality of services by upgrading banking technology prudence in management and by applying high standard of business ethic through its established commitment and heritage.
• Rupali Bank ltd is committed to ensure its contribution to national economy by increasing its profitability through professional and discipline growth strategy for its customer.

 Feature of Rupali Bank

There are so many reasons behind the better performance of Rubali Bank ltd than any other newly established banks.

• Highly qualified and efficient professionals.
• Rupali Bank ltd has established a core Research & Planning Division comprising skilled person from the very inception of the Bank.
• Rupali Bank ltd has become a member of SWIFT system to expedite foreign exchange transaction.
• The inner environments of the all branches of Rupali Bank ltd have been computerized to provide the promptly & frequently customer services.
• Rupali Bank ltd provides the attractive interest rate than the other financial bank.
• The bank provides loan to the customers @ lower interest rate with easy and flexible condition than the others do.
• Profit earning is not the main aim of the Rupali Bank ltd the bank is responsible to maintain the social duties.
• The bank frequent arranges customers meeting to achieve their valuable suggestions.
• Letter of Credit (L/C) commission and other change are very lower than the others bank.

Nature of Deposit number of Account of Zingera Branches.

 Management of Rupali Bank:

For any financial and non-financial organization, Management is the most valuable and important resources of any kind of organization. And, a well-organize management provides the organization to reach its ultimate goal. Management means planning, organizing, staffing, directing and controlling of all financial and non-financial resources of an organization.

Planning

Rupali Bank ltd has done its planning within the purview of the corporate plan. The overall planning approach in Rupali Bank ltd is top-down. Each branch can plan according to the goal imposed by the corporate level. It doesn’t plan independently. And, Rupali Bank ltd has a planning division. This department is mainly responsible for the overall planning.

Organizing

Rupali Bank ltd is organized as per the existing business locations. Each of which is a separate entity. Each unit is responsible for own performance and a Senior Vice President (SVP) followed by Manager Heads each. He is directly responsible for the performance of their unit. Within each branch it is organized functionally.

Staffing

The recruitment in Rupali Bank ltd is done in two ways. One as a “Probationary Officer” for the management program and it has a probation period of one year. Another one is non-management level as “Trainee Officers”. Probationary Officer is recruited in officer category and their career path is headed towards different managerial jobs.

Directing and controlling

The management approach in Rupali Bank ltd is top-down or authoritative. Information just seeks through lower management layer. Works are designed in such a way that one cannot leave without clearing the tasks as he is assigned for a day. Sitting arrangement in all office is done in a way that the superior can monitor the subordinate all time. Budgeting, rewarding, punishing, etc. are also practiced as control mechanism

 Human Resources Practice in Rupali Bank:

Employees are the core resources of any organization. Without them, one cannot run their organization. And, human resources approach is concerned with the growth and development of people toward higher level of competency, creativity and fulfillment. It helps employees become better, more responsible persons, and then it tries to create a climate in which they may contribute to the limits of their improved abilities. It assumes that expanded capabilities and opportunities for people will lead directly to improvements in operating effectiveness. Essentially, the human resources approach means that better people achieve better results.

 Recruitment of Rupali Bank:

The set-vice rule of Rupali Bank ltd states the recruitment policy of the bank. In, general the board of directors determines the recruitment policy of the bank from time to time. The minimum entry-level qualification for any official position other than supportive management is a Bachelors degree. However, informally the management prefers a minimum master’s degree for the appointed of probationary officers in the Executive Officer position. The recruitment for entry level positions begins with a formal written test which is conducted and supervised by the Institute of Business Administration, University of Dhaka. After successful completion of the written test, a personal interview is conducted for the successful candidates by a panel of experts comprising of renowned bureaucrats and prominent bankers of the country.

Organizational structure of Rupali Bank:

Corporate Branch Network:

 Corporate mission:

 Will become most caring, focused for equitable growth based on diversified deployment of resources, and nevertheless would remain healthy and gainfully profitable bank. Rupali   Bank ltd aims to become one of the leading Banks in Bangladesh by prudence, flair and quality of operations in their banking sector. The bank has some mission to achieve the organizational goals. Some of them are-

• Its   aim   to   ensure   their   competitive   advantages   by   upgrading   banking technology and information system.

• RBL intend to provide better benefits to their customers and good returns to their shareholders.
• The bank maintains congenial atmosphere for which people are proud and eager to word with Rupali Bank ltd.

• The bank intends to meet the needs of their clients and enhance their profitability by creating corporate culture.

• Rupali Bank ltd provides high quality financial services to strengthen the well-being and success of individual, industries, and business communities.

• The bank believes in strong capitalization.

• It maintains high standard of corporate and business ethics.

• Rupali Bank ltd extends highest quality of service, which attracts the customers to choose them first.

• RBL believes in discipline growth strategy.

 Corporate culture:

This bank is one of the most disciplined Banks with a distinctive corporate culture. Here we believe in shared meaning, shared understanding and shared sense making. Our people can see and understand events, activities, objects and situation in a distinctive way. They mould their manners and etiquette, character individually to suit the purpose of the Bank and the needs of the customers who are of paramount importance to us. The people in the Bank see themselves as a tight knit team/family that believes in working together for growth. The corporate culture we belong has not been imposed; it has rather been achieved through our corporate conduct.

 Board of Directors of RBL

Performance at a glance overal RBL:

Total Asset and EPS (Earning per share)

Rupali Bank Limited reported unaudited earnings results for the first quarter ended March 31, 2010. For the quarter, the bank reported profit after tax of BDT 113.62 million 1with earnings per share of BDT 9.09 as against net loss of BDT 177.54 million and loss per share of BDT 14.20 for the same period of previous year. Its accumulated loss was BDT 11,995.84 million as of March 31, 2010.

The government of Bangladesh will sell more than three million shares of Rupali Bank Limited in the secondary market.

A posting on the Dhaka Stock Exchange suggested that 30, 68,750 shares of Rupali would be brought to the secondary market for trading. On November 24, the government had announced plan to float 24.55% or 28, 57,380 shares of in the market. Investment Corporation of Bangladesh (ICB) would manage the issue for Rupali.

SWOT Analysis Of Rupali Bank ltd

#S – Denotes Strength

#W –Denotes Weakness

#O –Denotes Opportunity

#T –       Denotes Threat

(SWOT) Analysis:

SWOT analysis is the detailed study of an organization’s exposure and potential in perspective of its strength, weakness, opportunity and threat. This facilitates the organization to make their existing line of performance and also foresee the future to improve their performance in comparison to their competitors. As though this tool, an organization can also study its current position, it can also be considered as an important tool for making changes in the strategic management of the organization.

So we can say that it is a technique used by the credit officers to evaluate credit proposal submitted by company especially by the production concern. Here,

S –        Denotes Strength

W –      Denotes Weakness

O –       Denotes Opportunity

T –       Denotes Threat

• Ø Strengths:

—    Rupali Bank ltd has already established a favorable reputation in the banking industry of the country. It is one of the leading govt sector commercial banks in Bangladesh. The bank has already shown a tremendous growth in the profits and deposits sector.

—    Rupali Bank ltd has provided its banking service with a top leadership and management position. The Board of Directors headed by its Chairman Dr. Ahmed Al-Kabir is a skilled person in business. M. Farid Uddin world is the Managing Director of the bank management team.. The top management officials have all worked in reputed banks and their years of banking experience, skill, and expertise will continue to contribute towards further expansion of the bank.

—        Rupali Bank ltd has already achieved a high growth rate accompanied by an impressive profit growth rate in 2004. The number of deposits and the loans and advances are also increasing rapidly.

—       Rupali Bank ltd has an interactive corporate culture. The working environment is very friendly, interactive and informal. And, there are no hidden barriers or boundaries while communicate between the superior and the employees. This corporate culture provides as a great motivation factor among the employees.

 —     Rupali Bank ltd has the reputation of being the provider of good quality services too its, potential customers.

• Ø Weaknesses:

—        The main important thing is that the bank has no clear mission statement and strategic plan. The banks not have any long-term strategies of whether it wants to focus on retail banking or become a corporate bank. The path of the future should be determined now with a strong feasible strategic plan.

—        The bank failed to provide a strong quality-recruitment policy in the lower and some mid level position. As a result the services of the bank seem to be Deus in the present days.

__        The poor service quality has become a major problem for the bank. The quality of the service at Rupali Bank ltd is higher than the Dhaka Bank, Prime Bank or Dutch Bangla Bank etc. But the bank has to compete with the Multinational Bank

—        Some of the job in Rupali Bank ltd has no growth or advancement path. So lack of motivation exists in persons filling those positions. This is a weakness of Rupali Bank ltd that it is having a group of unsatisfied employees.

__        In terms of promotional sector, Rupali Bank ltd has to more emphasize on that. They have to follow aggressive marketing campaign.

• Ø Opportunities:

—         In order to reduce the business risk, Rupali Bank ltd has to expand their business portfolio. The management can consider options of starting merchant banking or diversify into leasing and insurance sector.

—       The activity in the secondary financial market has direct impact on the primary financial market. Banks operate in the primary financial market. Investment in the secondary market governs the national economic activity. Activity in the national economy controls the business of the bank.

—       Opportunity in retail banking lies in the fact that the country’s increased   population is gradually learning to adopt consumer finance. The bulk of our population is middle class. Different types of retail lending products have great appeal to this class. So a wide variety of retail lending products has a very large and easily pregnable market.

—     A large number of private banks coming into the market in the recent time. In this competitive environment Rupali Bank ltd must expand its product line to enhance its sustainable competitive advantage.

—       In addition of those things, Rupali Bank ltd can introduce special corporate scheme for the corporate customer or officer who have an income level higher from the service holder. At the same time, they can introduce scheme or loan for various service holders. And the scheme should be separate according to the professions, such as engineers, lawyers, doctors

• Ø Threats:

—                All sustaining multinational banks and upcoming foreign and private banks pose significant threats to Rupali Bank ltd. If that happens the intensity of competition will rise further and banks will have to develop strategies to compete against these local and foreign banks.

 —        The default risks of all term loans have to be minimized in order to sustain in the financial market. Because of default risk the organization may become bankrupt. Rupali Bank ltd has to remain vigilant about this problem so that proactive strategies are taken to minimize this problem if not eliminate.

 —                The low compensation package of the employees from mid level to lower level position is not able to keep the employee motivation. As a result, good quality employees leave the organization and it effects the organization as a whole.

 Finally we can say that, top management officials have experience skill and proficiency on banking. RBL has got impressive decoration, for that it creates the attention of the potential customers. Lovely environment boost up capability of the employees. Besides these RBL has adequate capital, high interest rate for DPS and Savings account and it’s goodwill. For poor employment system, RBL is loosing its reputation. For this reason right people are also not in right place for reference appointment. Another weakness is low interest rate of FDR, for which RBL is loosing their customers. This analyzes the opportunity, which will be available to a company in near future, such as withdraw of tax, incentives, export, exemption and more credit facilities etc. RBL can also adopt diversification strategy in expanding the business line into leasing and insurance company. It analyzes the threats, which may face the company such as international law, withdraw of most favorable nation (MFN) and GSP facilities etc. Some contemporary, multinational and upcoming banks are competitors of RBL. These bank poses threat for RBL. So RBL should take necessary steps to compete with them.

General Banking Activities of Rupali Bank Ltd.

GENERAL BANKING:

General banking department is the heart of all banking activities. This is the busiest and important department of a branch, because funds are mobilized, cash transactions are made; clearing, remittance and accounting activities are done here.

Since bank is confined to provide the services everyday, general banking is also known as ‘retail banking’. In Rupali Bank ltd Principal Branch, the following departments are under general banking section:

a)      Account opening section

b)      Deposit section

c)      Cash    section

d)     Clearing section

e)      Accounts section

Our Services:

Deposit Services
Savings Bank Account
Fixed Deposit Account
Short Term Deposit Account
Current Account
Pension Account
Foreign Currency Account
Loans & Lease Services
Micro Credit
Small and Medium Enterprise Financing
Industrial Loans
Working Capital Financing
Export Credit
Import Credit
Bills Purchase
Letter of Credit
Letter of Guarantee
Lease Financing
Transport Financing
Consumers Loan Scheme
House Building Loans

Miscellaneous Services
Electric Bill
Gas Bill
Phone Bill
Cheque Clearing
Instrument Collection
Locker Services
Remittance Services
Remittance of Fund from abroad by Bangladeshi Nationals
Foreign Remittance
Internal Remittance

Accounts Opening Section:

 Account opening is the gateway for clients to enter into business with bank. It is the foundation of banker customer relationship. This is one of the most important sections of a branch, because by opening accounts bank mobilizes funds for investment. Various rules and regulations are maintained and various documents are taken while opening an account. A customer can open different types of accounts through this department. Such as:

 1. Current Account.

       2. Savings account.

       3. Fixed Deposit

       4. Short Term Deposit (STD)

       5. Cash credit (CC)

►Types Of Accounts With Terms And Conditions:

Current Account:

Current account is purely a demand deposit account. There is no restriction on withdrawing money from the account. It is basically justified when funds are to be collected and money is to be paid at frequent interval.

Some Important Points are as follows-

 Minimum opening deposit of TK.5000/- is required, but under special circumstances it may be opened with tk.1000.

 There is no withdrawal limit.

 No Interest more or less is given upon the deposited money;

 Profit rate is 0.00%.

Savings Account:

This deposit is primarily for small-scale savers. Hence, there is a restriction on withdrawals in a month. Heavy withdrawals are permitted only against prior notice. Some Important Points are as follows-

  Minimum opening deposit of Tk.1000/= is required;

 Withdrawal amount should not be more than 1/4^th of the total balance at a time and limit twice in a month.

 If withdrawal amount exceed 1/4^th of the total balance at a time no Profit more or less is given upon the deposited money for that month.

• Fixed Deposit:

The Local Remittance section of Rupali  Bank ltd  also issues FDR.They are also known as time deposit or time liabilities. These are deposits, which are made with the bank for a fixed period, specified in advance. The bank need not maintain cash reserves against these deposits and therefore, the bank offers higher of Profit more or less on such deposits.

• Opening of fixed Deposit Account:

  The depositor has to fill an account form where in the mentions the amount of deposit, the period for which deposit is to be made and name/names is which the fixed deposit receipt is to be issued. In case of a Joint name Rupali Bank ltd also takes the instructions regarding payment of money on maturity of the deposit. The banker also takes specimen signatures of the depositors. A fixed deposit account is then issued to the depositor acknowledging  receipt of the sum of money mentioned there. It also contains the rate of Profit more or less and the date on which the deposit will fall due for payment.

Term Deposits:

These rates are not negotiable. In this table we can find out the percentage that is given by the bank for specific period of time to the customer.

STD (Short Term Deposit) Account:

Normally various big companies, organizations, Government Departments keep money in STD account. Frequent withdrawal is discouraged and requires prior notice.  The deposit should be kept for at least seven days or thirty days to get Profit more or less. The Profit more or less offered for STD is less than that of savings deposit.

All are Interest Rates

 * The rates of interest are changeable from time to time depending upon market competition.

Dishonor of Cheque:

If the Cheque is dishonored, RBL sends a memorandum (Cheque returns memo) to the customer stating the reason in the following way,

 ¨    Refer to drawer

¨    Not arranged for

¨    Effects not cleared. May be presented again.

¨    Exceed arrangements

¨    Full cover not received.

¨    Payment stopped by drawer

¨    Payee’s endorsement irregular/ required.

¨    Payees endorsement irregular, require banks confirmation.

¨    Drawer’s signature differs/ required.

¨    Alterations in date/figures/words require drawer’s full signature.

¨    Cheque is post dated/ differs.

¨    Crossed Cheque must be presented through a bank.

¨    Clearing stamp required/ requires cancellation.

¨    Addition to bank discharge should be authenticated.

¨    Cheque crossed “account payee only”

¨    Collecting bank discharge out of date/ mutilated.

¨    Amount in words and figures irregular/required.

► Account Opening procedure:

 ►Documents required for opening account

 □   Individual / Joint Account:

1. Introduction of the account.
2. Two photographs of the signatories duly attested by the introducer.
3.  Photo Identity.
4. Joint Declaration Form (For joint a/c only).
5. Employee’s Certificate (in case of service holder).

 □   Partnership account:

1. Introduction of the account.
2. Two    photographs of the signatories duly attested by the introducer.
3. Partnership letter duly signed by all partners (Sign should be similar as stated in Partnership Deed).
4. Partnership Deed duly certified by Notary public.
5. Registration (If any).
6. Resolution of meeting for opening an account.
7. Updated Trade license.

□    Proprietorship account:

1. Introduction of the account.

2. Two    photographs of the signatories duly attested by the introducer.
3. Valid copy of Trade License.
4. Rubber stamp.
5. TIN number certificate.
6. Photo Identity.

□   Limited company:

1. Introduction of the account.
2. Two photographs of the signatories duly attested by the Introducer.
3. Valid copy of Trade License.
4. Board resolution of opening A/C duly certified by the Chairman/Managing Director.
5. Certificate of Incorporation.
6. Certificate of Commencement (In case of Public limited company).
7. Certified (joint stock) true copy of the Memorandum and Article of Association of the Company duly attested by Chairman or Managing Director.
8. List of directors along with designation & specimen signature.
9. Latest certified copy of Form – xii (to be certified by register of joint stock companies) (In case of Directorship change).

10. Rubber Stamp (Seal with designation of each person)
11. Certificate of registration (In case of Insurance Company – Obtained from department of Insurance from the Peoples Republic of BD).

 □    Club / societies account:

1. Introduction of the account.
2. Two photographs of the Signatories duly attested by the introducer.
3. Board Resolution for Opening A/C duly certified by President/ Secretary.
4. List of Existing Managing Committee.
5. Resolution of meeting for opening an account.
6. Registration (if any).
7. Rubber Stamp.
8. Permission letter from Bureau of N.G.O. (In case of N.G.O. A/C).

►Closing of an account:

The closing of an account may happen,

  If the customer is desirous to close the account,

  If the Rupali Bank ltd finds that the account is inoperative for a long duration.

  If the Rupali Bank ltd get garnishee order from court.

A customer may close his/her account any time by submitting an application to the branch. The customer should be asked to draw the final check for the amount standing to the credit of his/her account less the amount of closing an other incidental charge and surrender the unused check leaves. The account should be debited for the account closing charge etc. and the authorized officer of the bank should destroy unused check. In case of joint account the application for closing the account should be signed by the joint account holder. The fee for closing of an account is Tk.100).

 ► Special Savings Scheme:

 Savings helps to build up capital and capital is the prime source of business investment in a country. Investment takes the country towards industrialization, which eventually creates wealth. That is why savings is treated as the very foundation of development. To create more awareness and motivate people to save, Rupali Bank ltd offers Special Savings Scheme.

The schemes are:

• Youth and Farmer Loan

• SME Loan

• Student Loan

• Rupali Monthly Earning Scheme
• ►Terms and conditions of the scheme:

                                               (Youth and Farmer Loan )

# No charge no fee…

# Fixed member must be 18-35 years old

# must have a account on this branch

# 200,000**taka the highest provided but in group 50, 00000**are provided but liean must have

# Interest rate 10% and 2 years payable

                                                   (SME Loan)

# It’s classifying under 4 categories this are:

1/ Shohoj Rin (2 lack only)

2/ Sholob Rin (5 lack only)

3/ business Rin (3 core only)

4/ medium Rin (3-20 core only give the loan)

                                                       (Student Loan)

 # 12 lacks only for study loan but not payable

# 13% interest rate only for 3 month (changeable)

                                                ( Rupali Monthly Earning Scheme)

# The time of 3-5 years

# Interest rate for 3 years 8% and for 5 years 8.50%

# 80% advance loan are taken depositor against liean

Loan & Advance

After two years of savings in this scheme the depositor (if an adult) is eligible for a loan up to 80%of his deposited amount. In that case, Profit more or less rates on the loan will be applicable as per prevailing rate at that time. Only Tk/-200 will be collect for service charge.

Reason for disqualification from this scheme:

1. If the depositor fails to pay 3 installments in a row, then he will be disqualified from this scheme and Profit more or less will be applicable as mentioned in withdrawal clause.
2. In case of death of the depositor the scheme will mark deceased to function. The amount will be handed over to the nominee of the deceased depositor. In case of absence of the nominee the bank will handover the accumulated amount to the successor of the deceased

 Objectives:

1. An account is to be opened by filling up a form.
2. The Bank will provide to the customer a deposit receipt after opening the account. This receipt is non-transferable.
3. If the deposit is withdrawn before maturity term, then saving rate of profit will be applicable and paid to the depositor. However, no profit will be paid if the deposit is withdrawn within six months of opening the account and monthly income paid to the customer will be adjusted from the principal amount.
4. A depositor can avail loan/quard up to 80% of the deposit amount under this scheme. In this case, profit will be charged against the loan, the monthly income will be credited to the loan account until liquidation of the loan amount inclusive of profit.

 Deposit Section:

Deposit is the lifeblood of a bank. From the history and origin of the banking system

We know that deposit collection is the main function of a bank.

Accepting deposits

The deposits that are accepted by Ruplai Bank ltd like other banks may be classified in to,

 a) Demand Deposits

b) Time Deposits

 Demand deposits:

These deposits are withdrawn able without notice, e.g. current deposits. Rupali Bank ltd accepts demand deposits through the opening of –

 a) Current account

b) Savings account

c) Call deposits from the fellow bankers

 Time deposits:

A deposit which is payable at a fixed date or after a period of notice is a time deposit. Rupali Bank ltd accepts time deposits through Fixed Deposit Receipt (FDR), Short Term Deposit (STD).

 While accepting these deposits, a contract is done between the bank and the customer. When the banker opens an account in the name of a customer, there arises a contract between the two. This contract will be valid one only when both the parties are competent to enter into contracts. As account opening initiates the fundamental relationship & since the banker has to deal with different kinds of persons with different legal status, Rupali Bank ltd officials remain very much careful about the competency of the customers.

 Cash section:

Banks, as a financial institution, accept surplus money from the people as deposit and give them opportunity to withdraw the same by cheque, etc. But among the banking activities, cash department play an important role. It does the main function of a commercial bank i.e. receiving the deposit and paying the cash on demand. As this department deals directly with the customers, the reputation of the bank depends much on it. The functions of a cash department are described bellow:

 Functions of Cash Department

 Cash packing:

 After the banking hour cash is packed according to the denomination. Notes are counted and packed in bundles and stamped with initial.

Allocation of currency:

Before starting the banking hour all tellers give    requisition of money through   “Teller cash proof sheet”. The head teller writes the number of the packet denomination wise in “Reserve  sheet”  at  the  end of the   day, all the  notes  remained  are  recorded  in  the  sheet.

Local Remittance:

Carrying cash money is troublesome and risky. That’s why money can be transferred from one place to another through banking channel. This is called remittance. Remittances of funds are one of the most important aspects of the Commercial Banks in rendering services to its customers.

 Types of remittance:

• Between banks and non banks customer
• Between banks in the same country
• Between banks in the different centers.
• Between banks and central bank in the same country
• Between central bank of different customers.

The main instruments used by the Rupali Bank ltd of remittance of funds are:

• Payment order ( PO)
• Demand Draft ( DD)
• Telegraphic Transfer (TT)

The basic three types of local remittances are discussed below

Test – key Arrangement:

Test key arrangement is a secret code maintained by the banks for the authentication for their telex messages. It is a systematic procedure by which a test number is and the person to whom this number is given can easily authenticate the same test number by maintaining that same   procedure. Rupali Bank ltd has test key arrangement with so many banks for the authentication of LC message and for making payment.

Commission for PO:

Rupali Bank ltd charges different amount of commission on the basis of Payment order at. The bank charges for pay order are given in the following chart:

bill and Clearing Section:

Cheque, Pay Order (P.O), Demand Draft (D.D.) Collection of amount of other banks on behalf of its customer is a basic function of a Clearing Department.

• Clearing:  Clearing is a system by which a bank can collect customers fund from one bank to another through clearing house.
  

• Clearing House:  Clearing House is a place where the representatives of different banks get together to receive and deliver cheque with another banks.

• Member of Clearing House:  Rupali Bank ltd. is a scheduled Bank. According to the Article of Bangladesh Bank Order, 1972, the banks, which are the member of the clearinghouse, are called as Scheduled Banks. The scheduled banks clear the cheque drawn upon one another through the clearinghouse.

Some are parts:

General Banking Service Level and Customer Satisfaction of Rupali Bank Limited (Part 1)

General Banking Service Level and Customer Satisfaction of Rupali Bank Limited (Part 2)