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Weekly report 2

Submitted to: Sir Samar kamal fazli

Submitted by: Azeem akhtar

Organization: NBP

Registration: Mbaspo8-018

Week : From 03-07-09 to09-07-09

Submission date : July 18, 2009


COMSATS INSTITUTE OF INFORMATION TECHNOLOGY, M. A. JINNAH CAMPUS, LAHORE

Weekly report 2
In the second week of my internship I learned about the following things Payment of cheques Deposit of cash and cheques payment of pentions

Payment of Cheques:
It is banks primary function to repay the money required for its customers account usually by honoring his cheques. It is a contractual obligation of a banker to honor its customers cheque if the following essential are fulfilled

Cheque should be in a proper form Cheque should not be mutilated Cheque should be drawn in this particular branch Cheque should not be damaged No unauthorized material alterations Funds must be sufficiently available Cheque should not be post date or stale Cheque should be presenting during the banking hours

If these conditions are complete then a token is issued to a customer and after verifying and manager sign a check is transfer to the cashier and a customer give the token to cashier and receive the amount of cheque. Deposit of cash/cheques: For deposit a cash in the account by the account holder a credit voucher is filled according to the amount. And then he present the cash to the cashier with the credit voucher and after signed the voucher is maintained in the file for office record and a receipt is given to the customer. Payment of pentions : For payment of pention first of all a form is filled with a pensioner name, PPO number, amount of pention, date and signature and with branch stamp and payment stamp. After completing the form its record in the government debit scroll, a pass book and in a ledger and a token is issue for the payment. After verification from the manager and sign of manager a form is return to the

customer and customer present it to the cashier and receive the amount of pention. And I learned that NBP try to facilitate and highest profit to the customer than its competitors. It did the following investments SHORT TERM INVESTMENTS:
NBP now offers excellent rates of profit on all its short term investment accounts. Whether you are looking to invest for 3 months or 1 year, NBP rates of profit are extremely attractive, along with the security and service only NBP can provide.

National Income Daily Account (NIDA):


The scheme was launched in December 1995 to attract corporate customers. It is a current account scheme and is part of the profit and loss system of accounts in operation throughout the country.

MODE OF CALCULATION:
Average balance during a calendar month.

EQUITY INVESTMENTS:
NBP has accelerated its activities in the stock market to improve its economic base and restore investor confidence. The bank is now regarded as the most active and dominant player in the development of the stock market.

NBP is involved in the following:


Investment into the capital market Introduction of capital market accounts (under process)

NBP involvement in capital markets is expected to increase its earnings, which would result in better returns offered to account holders

Procedure for Closing an Account:


The customer can close the account. Customer is required to submit an application for closing the account. Then the account is closed out and his balance is paid to him after deducting the closing charges, i.e., Rs. 250 and the application is filed in Account Closing File. Remaining leaves of cheques will also be collected from the customer.