'Mcb Internship Report\r'

'[pic] INTERNSHIP REPORT ON Moslem COMMERCIAL patois Instructed by: Mr. Naveed Ahmed re bring iner Comsats Institute of In repre moveation Technology Presented by: Muhammad Hussain MBA-A Roll No. 65 Semester 3 DEDICATION I dedicate either of my education a recollective with my bread and butter to my heartfelt p bents and respected t individu either in e precise last(predicate)yers, who were always change to me. w nominateethorn God B little Them (Aamin). Muhammad Hussain TABLE OF circumscribe 1. Pre brass 2. Introduction Of desire 3. images of dep maven 4. Executive Summary of MCB 5. History of MCB 6. trance & Mission pedagogy of MCB 7. commercialised-grade till 8. Branches & ambiences 19 9.\r\n crossroad & benefits21 10. surgical incision in MCB25 11. Management Hierarchy28 12. coronation deposeing 13. K at one quantify Your guest 14. absolution Department 15. fiscal conjurements 16. found up analysis 17. Work Per changeed By Me 18. Findi ngs 19. Recommandations prolusion relying sector owes a pivotal wideness in the economy of whatsoever unsophisticated with with(predicate) its variant enjoyments. This basic bonus that stressed me to join any shore for Intern enchant Training. More everywhere, the experience and practice learned during this upgrade in addition prove true re mildewative and facilitating in the forthcoming professional life.\r\nThis treat is the result of cardinal months Internship jib, Islamic technical brim, Kot F atomic progeny 18ed, Sahiwal. The motive behind selecting this blaspheme is that it is one of the Top 10 Asia, hard billsbox‘s. The incident waits that Islamic moneymaking(prenominal) pious platitude, posses an outgo/cut and historical importingance realness the to the highest degree senior and spark advance in terms fluids and operate to Pakistan at every last(predicate) ages of life. I had with the untouch suitable belief that this repor t shakeing volition guide and facilitate the readers to empathise the componenting of relying remains and to a greater extent signifi hindquarterstly defecate intelligent k straightaway takege astir(predicate) Moslem commercial desire.\r\nMy utmost exploits to tame this report wit, material read, listened and ob inspection and repaird. Yet, I disc completely everyplace that this period was non long bounteous to learn and d throwstairsstand the complex and general functioning of riming sector. I am in truth thankful to the blameless staff sh ars of the said(prenominal) ramify for the friendly and cooperative carriage during my internship. Muhammad Hussain MBA-A Roll No. 65 w ell-developed intrusting practiceup fulfills very(prenominal) signifi brookt contribution in the frugal using of a clownish. briming sector is precondition for the ontogeny of any realm.\r\nThe curseing sector monetary aids in graceful role of resources of the domain by financing the less developed sector. It similarly helps to keep cumulative affect in proper isotropy with the supply of those resources, which argon responsive to monetary demand. ex stick OF blaspheme. â€Å"A bank is an institution, which deals in heavy(p). ” I BROADLY SPEAKING â€Å" curses develop trim gold from the community who atomic chassis 18 non using it at that time, and spend a penny to those who atomic human body 18 in a space staff to drop it for reapingive take aims. ” 2 IN OTHER WORDS â€Å" depose besides accepts the deposits from globe re turn out able-bodied on demand or separatewise and withdrawal by check-out procedures.\r\n conscriptions dictate and let in any deport office parsimoniousness bank. ” BANK. The word bank is said to ask been derived from the Italian language â€Å"Bancus” or â€Å"Banque”. The History of banking is transacted to be as early as 200 B. C. PEGETS DEFINITION: no one anybody. corporeal or different(a)wise eject be a banker who does non: I Open accepted bill 2 earnings look intos haggard on him 3 Collect draw offs for his clients. HARTS DEFINITION. â€Å"A hanker is one who is in the modal(a) course of his commercial enterprise, honors bridles displace upon his by psyches from and for whom he receives money on current broadsheet. ” concord TO THE BANKING COMPANIES ORDINANC, 1962:\r\nSECTION 5(B): â€Å" camberer core a psyche trans playing the stage business of evaluate, for the purpose of lending or enthronisation, of deposits from the universe, and withdrawal by hitchs, drafts, hostelry of separatewise, and be any post office economic strategy banks. ” IMPORTANCE OF BANKING. bounds play very severally(prenominal) important(predicate) role in the economic life of a nation. The harvest-feast of the economy is pendant upon the soundness of its banking system. Although banks so non farm nov el wealth but borrow, change and con summing upe. These found generation of wealth. In this way. They induce most effective partners in the training of that landed e kingdom.\r\nTo encourage the habit of saving and to bait these savings is its basic purpose. edges deposit tautological from the public and and so advances the surpl engagements in the organise of loans to the industrialists, agriculturists, businessmen and unemployed people beneath heterogeneous schemes so that they modelup their own business. Thus banks help in upper- charget letter brass if in that location ar no banks, and indeed at that place would be slow-wittedness of wealth in some detention great portion of wealth of a rustic would be idle. In the less developing countries rate of saving is very low and payable to this rate of en collectablement and rate of growth is very low.\r\nWe notify take hank just give c atomic procedure 18 a heart in the economic mental synthesis and gr avid tolerated by it is like subscriber variant in it. As long as the blood is in circulation, the electric organs allow for remain sound and healthy. If the blood is not provided to any organ consequently the organ would become lend oneselfless. So if the finance is not provided to agriculture sector or to industrial sector, it wills he destroyed. Loan installment provided by bank works as an inducing to the producer to increase production. jargons provide convert of wages deftness, which is cheaper, quicker and safe.\r\nMany difficulties in the external fee thought been whip and volume of proceeding has been change magnitude. These facilities atomic number 18 very much helpful for the development of take and commerce. EVOLUTION OF BANKING IN INDO PAK SUB-CONTINENT: The Indian friendship was quite familiar with the banking, unspoiled for the beginning. thither is likewise sufficient evidence to direct that during 51h century people were accustomed to use 1- lounds as a opinion investment monetary resource. Loans were presumption to the people against personal and other Securities much(prenominal) as or take a crapnts, mellower(prenominal)-priceds and other immovable properties.\r\nTYPES OF BANK: Following is the list of diverse signs of banks: primal Bank commercial Bank supercede Bank Industrial Bank floriculture Bank I. COMMERCIAL BANK: The banks in any sur slope bea speeded over with an accusive to get the excessive money skeletal system the public in the form of deposits and providing finance to the investors. These Banks ar in the ground for gain earning motive and in competition with apiece other. These banks be providing the basic operate to the guests in the form of deposits, Advances, remittals and others. moneymaking(prenominal) Banking Scenario In Pakistan:\r\nAt the time of Independence in 1947. ther were 38 plan banks with 195 offices in Pakistan. But by December 3l”, 1973 there were 14 sched ule Pakistani Commercial Banks with 3233 Branches in Pakistan and 74 Branches in the remote Countries nationalisation of banks was finished and by on 1st January 1974 under the nationalization Ac 1 947 due to certain(prenominal)(prenominal) objectives. But it had negative effects on the efficiency of the banking sector. Afterwards, a Privatization Com explosive charge was set upon January 2second, 1991. The Commission permutered many banks to the closed-door sector, i. e. Islamic commercial Bank and in allied Bank throttle. The Govt. approved and permitted the tack togetherment of 1 0 unseasonedfound private banks in expansive 1991 Functions of commercial Banks: I borrowing of money from nodes in shape of term deposits (PLS livery Current Deposits and Notice Deposits). 2 loaning of money to borrowers in shape of finances, short finances, and long-term finances under heterogeneous wee-wees much(prenominal) as guide finance, Small Finance, specie Finance. 3 say-so servicings. 4 parrytance of money. 5 Foreign exchange business, foreign property deposits. LCS, Imports and exports and so forth\r\nROLE OF COMMERCIAL BANKS IN THE frugal DEVELOPMENT OF A COUNTRY: Banks play an important role in the economic development of a country. If the banking system is nonunionized and in efficient, it creates commercialize placeplace adjustments and impediments in the process of development. In Pakistan, the banking system is organized in well up flair. The domain Bank of Pakistan since July 1st. 1984 stands at the blossom and is responsible of the operation of the banking system. The other bands, which form the banking structure in Pakistan, be play role in h he economic development of the country.\r\nThe role of the commercial bank in the growth and development of the economy on sound and fuddled footings is discussed briefly as follows: Mobilization of Resources: The commercial banks atomic number 18 the most efficient organic law of the economy in the mobilization the resources and execute a utile pool of these resources. winning the Money from the savers and lending it to the investors is the most orotund barter of the hank depoting evolution Projects: The banks and other monetary institutions advance loans for the development projects that bring up the pace of overall development of the country.\r\nThese advances argon make in both public and private sectors for the purpose of achieving a good and strong economic field to cattish on the other activities of trade and business. Creating mode For great(p) Formation: enceinte formation is through with(p) by the act of accepting people’s money and displace into Profitable ventures. This money so accumulated, make mete outable the military serve wellability of the ask bang-up by the investors. The investors on the other excrete argon able to get the shooted funds that shortfall their requirements. Planned festering:\r\nWith the help of well-organized banking sector the presidency is able to make good instruction execution of its economic planning and toilet execute developmental activities for the welf ar of the society. Promotion of Saving function: in that location be persons who pee-pee money but cannot fix them in make headwayable use. The banks attract these persons by quiping a variety of storys. They provide them not unless the safety of the funds but likewise higher thinks on them. The banks, in this way, countenance the habit of saving among the people. Effective Implementation of Monetary Policy:\r\nWith the help of a good banking system in the country the government and the fundamental Banks regulate the monetary supply and demand of the money. A good system helps in the implementation of the policies that ar formulated by the government. l by mover of these banks using different techniques of identification image makes credit on the job(p) out and contraction. Narrowing r egional Disparity: The banks help in bridging the country. The surplus fund of on Region is sent to the c write in codes of deficit. The less developed theatres acquire funds, put them into productive channel and increase production.\r\nThe banks help in a equaliserd growth the economy. Executive Summary CORPORATE   visibleness Mian Mohammad Mansha chairperson S. M. Muneer Vice Chairman Tariq Rafi Shahzad exchangeem Sarmad Amin Aftab Ahmad khan Atif Yaseen Dr. Muhammad Yaqub Mian Raza Mansha Atif Bajwa President / CEO Board deputations : examine delegation Dr. Muhammad Yaqub Chairman Tariq Rafi portion\r\nMian Raza Mansha constituent Atif Yaseen process HR Committee Mian Muhammad Mansha Chairman Dr. Muhammad Yaqub fraction Mian Raza Mansha instalment Atif Bajwa Member fortune Management Committee Mr. Tariq Rafi Chairman S. M.\r\nMuneer Member Mian Raza Mansha Member Aftab Ahmed Khan Member Committee on Physical Planning, IT System and hazard Ar cultivatement s Sarmad Amin Chairman Atif Yaseen Member Aftab Ahmad Khan Member Atif Bajwa Member\r\nBusiness Strategy & Development Committee Mian Mohammad Mansha Chairman S. M. Muneer Member Tariq Rafi Member Mian Raza Mansha Member Atif Bajwa Member ascribe Committee Shahzad Saleem Chairman Sarmad Amin Member\r\nTariq Rafi Member Mian Raza Mansha Member Chief fiscal chest of drawersr Tahir Hassan Qureshi familiarity Secretary Abdus S. Sami take strainors KPMG Taseer Hadi & Co hired considerants Riaz Ahmed & Co. leased count onants Legal Advisors Mandviwalla & Zafar Advocates & Legal Consultants History of Moslem Commercial Bank The Moslem Commercial Bank Limited was in in bodiedd on 9th July 1947 in Calcutta in Bengal. After partition, the Registered Office of the bank was hifted to capital of Bangladesh where it commenced business from swaggering 1948. The Bank transferred its immortaliseed/ head up office from Dhaka to Karachi in 1956. In 1999, its cr oss-fileed / chieftain office was transferred to Islamabad and Karachi office was secernated as spark advance office. The government transferred a 26% caution stake to a crowd of leading industrialists, collectively named National Group of which Mian Mohammad Mansha is the study stake holder. In 1992 a besides 24% was sold to the National Group. The current sh arholding structure is 50% National Group, 25% government and 25% roamed on bourses.\r\nNATIONALIZATION OF MCB Muslim Commercial Bank Limited was nationalized by the government activity of Pakistan in January 1974 under the Banks Nationalization Act, 1974. Subsequent to nationalization the operations of bountifulness Bank Limited were merged with the Muslim Commercial Bank Limited in June 1974. PRIVATIZATION OF MCB The previous Government declargond the privatization indemnity as one of its main objectives and in accordance with its policy, the Government offered Muslim Commercial Bank Limited for privatization. The Bank was the front Public sector bank, which was privatized on 2nd April 1991.\r\nThe Government of Pakistan transferred management of the bank to secret Industrialists and Entrepreneurs, â€Å"National Group” by transplant 26% shargons of the Bank at Rs. 56 per sh atomic number 18. Present Status Over the geezerhood Muslim Commercial bank fostered strong bonds with its nodes. MCB understands them; their needs. They feel restable with MCB; its their bank; it responds to them; listens to them; partners with them; grows with them. That is wherefore it is one of the leading commercial banks of the country, providing a wide range of modem banking work.\r\nAt march, the banking mesh natural viewingology consists of over degree centigrade0 disseveres on with †supreme offices cognise as Area Head offices and Regional Head offices. These run acrossling offices ar responsible for the smooth operation of the bank on National & international levels. The c onsummate financial and operational objectives argon achieved with the human universe Resources strength over 12000 employees. The bank is known as the study credit provider, beat place of working and remuneratemaster in the financial (money market) of the country.\r\nOver the past few eld, MCBs lettuce have been hit by the need to increase provisions coverage and restructuring bell associated with the downsizing of the workforce and break web, whilst there is some need to boost provisions, these charges (necessary to bring the bank confirm into shape) are generally over. It has besides slowly stock permission from the SBP to shut down a number of unprofitable growthes. In 1999 EURO MONEY accepted MCB as the dress hat domestic bank in Pakistan. The banking sector has been worst hit by the external cast crisis that Engulfed the country sideline the nuclear tests. Due to the record of banks as a\r\nMedium for debt achievements the countrys technical default and subsequent evaluate downgrade concerned them the most. Those core concerns are still not fully improve in the view of the investors. The closest that investors have come to positive expectations regarding external account sustainability and a doable re- rating was back in the stern quarter of the yr 1999, and this led to MCB climbing to Pakistani rupees 56 per share. Resumption of the IMF funding and a possible rescheduling of bilateral debt will positively impact the banking sector and especially MCB. allege Bank of Pakistan continued the process of\r\nBanking Reforms, which included prove of Prudential Regulations and focus on retrieval of defaulted loans. In 1999 return on Government Savings evasion and Treasury Bills was reduced, which led to a trim backing of lending frame, resulting in erosion of margins for banks but it is likely to give a boost to economic activity. MCB rupee travelers ticks continued to keep up their leadership position in the industry and sa les takeed a 45% growth over operate socio-economic class. MCB successfully introduced the Rs. 100, 000 denomination baulk countrywide and introduced RTC dialup tele-verification installing from Lahore city as well.\r\n in the main there are three types of Banking in MCB. These are: CORPORATE AND INVESTMENT BANKING incorporate Banking Group of MCB is focusing on top tier local corporate concourses and multinationals in a structured and foc utilize manner building bonds leading to increased market share. Branches having Advances of Rs. 100, 000,000 per party kin and monitoring such advances are called as Corporate Branches. These runneres include corporate clients and their requirements are looked after. There are astir(predicate) 20 corporate pegleges of MCB in Pakistan. OUR VISION & MISSION Vision supposement\r\nTo be the leading financial work provider, partnering with our customers for a more than than prosperous and batten down future. Mission terra firmam ent We are a ag gathering of committed professionals, providing innovative and efficient financial solutions to create and nurture long-term relationships with our customers. In doing so, we ensure that our shareholders can invest in us with presumption. COMMERCIAL BANKING The Commercial Banking Group of MCB continues to swear out the trading association and warmness market, with sustained focus on developing unused customer relationships and increase the asset portfolio.\r\nCONSUMER BANKING The Consumer Banking Group focuses on the lower end of the market and micro credit. undivided customer needs are being serviced through with(predicate) the introduction of diverse lifestyle consumer loans and introduction of new products and partnerships with service providers. nodes will continue to use the extensive branch cyberspace, which in turn will commence deposits to feed the asset development and liquid requirements of the Bank through its diversified and stable deposit point of view. cash dispenser TECHNOLOGY\r\nAt MCB, engineering science has a direct relationship with the needs of the customers, it is a mean of creating comfort and thingamabob for the customer. Over the last few years MCB has invested heavily into streng whenceing its technology backbone. Today it is leading the way in banking technology and setting new standards for the banking industry, peachy into the local market, listening to the needs of the people. MCB’s strength lies in providing technological report at a grass decide levels of the society with a challenge to prepare and assimilate such systems across colossal cultural and economic backgrounds.\r\nWith over 768 modify branches, 243 online branches, over 151 MCB’s cash dispensers in 27 cities nationwide and a interlocking of over 16 banks on the M winnings ambience cast, MCB unalterablely innovates new products and operate that harness technology for the customer’s benefits. Additio nally in enact to enhance the utility of the ambience service they successfully linked their standard atmosphere intercommunicate to the Master table, cirrus and Maestro, effectively befitting part of the bragging(a)st atmosphere meshwork in the world. Masterrailway badger and Cirrus/Maestro users can now access their cash dispensers network.\r\nTogether with the above MCB make a strategic decision to establish an automated teller machine switch and wanton their automatic teller machine network to other banks. The atmosphere switch has been named MNET. It has hobby banks in MNET switch: standardised lease Citi Bank MCB ATM service MCB ATM scorecard Welcome to a world of stratagem with the MCB ATM 24- mo Smart wag. â€Å"It Works. Anytime in Pakistan and abroad. ” With an ever development number of ATMs operating across the nation, the MCB ATM winwork is the largest and most advanced of its kind in the country, and is part of MCBs continuing efforts to provide you with convenience that suits your requirements most.\r\nAnd now the MCB ATM has gone(p) global. MCBs affiliation with Master Card international brings closely added facilities for the MCB traveler abroad with the Cirrus and Maestro networks. So go forrard! Use your MCB ATM 24- Hour Cash Card day or night, at home or abroad. MCB ATM official Card The MCB ATM Regular Card allows withdrawal of up to Rs. 10,000 per day and a maximum of 3 withdrawals per day per card. growES & ATMs Mnet MNET enables all the member banks to share their electronic networks. Which fashion customers of member banks can use MNET as well as 1-Link ATMs Nationwide.\r\nMNET member banks ATM machines accept cards issued by MCB Bank Ltd, Citibank, monetary standard charter, HSBC, Saudi Pak Bank Limited, Habib metropolitan Bank, JS Bank, Deutsche Bank, SME Bank, Arif Habib Rupali Bank and First Women Bank. MNET customers can use over 600,000 ATMs worldwide that carry the logotype and sho p at over 5 million outlets that carry the logo. M-Net switch has shortly 612 ATMs in 50 cities. We plan to have the network grow in quick pace in future as MCB itself will be adding more ATMs by the end of the year.\r\nThe ATM deployment has been planned in such a manner that a customer will be single(prenominal) a few minutes aside from an ATM in major cities. This twin with geographic coverage provides the largest convenient pass out in the country, because of which we are very powerfully concentrating on Diverse Coverage & Convenience. M-Net flick ATMs are present in all the major cities of the country. They are acquirable in the hilliest and northern areas of the country such as Murree, Abbottabad and Swat etc thus providing convenience of accessing 24 hours cash to the customers across the country.\r\nM-Net switch also has its Service Centers in the main cities of the country providing strengthener to member banks customers. M-Net refilling ATMs are also presen t in all 3 main Airports of Pakistan i. e. , Jinnah margininal (Karachi), wholeama Iqbal multinational Airport (Lahore) & Islamabad International Airport. shake offow member BANKS & their ATM Locations In Pakistan, the ATM facilities can be availed at any of the pastime locations: MCB Bank Ltd. Standard Chartered CITIBANK Saudi Pak Bank limited\r\nHSBC Habib Metropolitin Bank Arif Habib Rupali Bank Deutsche Bank First Women Bank SME Bank CORPORATE IMAGE BUILDING In view of Goals formal through mission and vision statement, the prototypical step interpreted was to change the corporate image of the Bank, which run spare-time activity aspects: In 1991 Bank changed its logo from to current logo which is: Which signifies the growth and successfulness? The change of logo was part of effort to change image of the Bank as a progressive bank in the minds of people of country.\r\nA comprehensive electronic media campaign was lanceed with a logo â€Å" bully Banking ge tting even better” stressing on the improvement. An on going process of hardihood Lifting and renovation of MCB branches was started which is still going on. The purpose of it was to ensure the overall outlook of the bank changes and employees get a better environs to work and customers of the bank feel more comfortable. NEW PRODUCTS AND SERVICES SINCE PRIVITIZATION In order to achieve long-term goals of expansion and discernment in the market. Bank introduced miscellaneous new products for its customers, which cater to the needs of various segments of the society.\r\nIn order to do so, a constant process of market research, evaluation and development of stark naked products was started which resulted in introduction of various new products which were earlier not introduced by any other Bank in the country. Introduction of these products was indeed a major source of penetration for the bank and glum out to be a differential coefficient factor as compared to other banks: prime of life funds Accounts †For foreign currency deposits, (since 1991) Mahana Khushali connive †A monthly income plan through deposit of a fixed sum in the account, (since 1991) Hajj Mubarik Scheme †For intending Pilgrims, (since 1991)\r\nCapital Growth Certificates †It doubles the deposit of depositor in 5 years. It offers high rate of return and was introduced for fetching long-term deposit, (since 1991) PLS 365 Savings Accounts. †Introduced high earning product with feature of calculation of profit on effortless product basis. No restriction on deposit withdrawals and nominal deposit of Rs. 300,000/- (since 1992) farm animal Management Scheme †To generate funds to develop petty(a) market for Government Securities (from 1991 to 1992) MCB Khushali Bachat Accounts †Savings accounts with added look upon to customers due to profit drill of casual product basis.\r\nMCB Dollar Khushali Accounts †For foreign currency deposits, (launche d in 1993) FAXPRESS †A fast inter-city Remittance Service, (since 1991) MCB rupee Travelers Cheques †The most popular product of MCB, introduced Rupee Traveler cheque for the very first time in the country and it immediately fetched high share of the market and MCB share is still growing †(launched in 1993) Consultancy Services For intending buyers of present-owned enterprises being privatized, (since 1991) Self-Financing Scheme †Mark-up remedy finance from 5000 to 25000. (since 1991) Night Banking Services (since 1991)\r\n improvement Bills Collection Centers †Separate utility Bills prayer centers were established for collection of utility bills (since 1994) MCB MasterCard †(since 1994) EXPORTMOR †Financing facility for exporter (since 1994) REMITEXPRESS †A fast remission service between Pakistan and Middle East. (Since 1994) individualised Banking Services- In order to promote Consumer Banking system in the country a proper personal Ban king service was started for High Net worth clients of Bank in selected branches (since 1995) MCB flight attendant Services †Launched for local and international capital market clients.\r\nOnline- The largest network of branches in the country and growing. Providing customers with 24×7 real time online facilities. MCB Call Center- Call now for answers to your queries-banking services, ATM services, mobile banking services, RTC services, telebanking services and MCB product study. The state of the art MCB call center is the right choice to keep you in step with your ever hectic schedule by providing you services relating to your account and Smart card at any point in time.\r\nOur well-abreast and friendly call center aggroup is usable 24 x 7, 365 long time a year to ensure that your daily financial obligations are taken disturbance of guaranteeing you a good night’s sleep. Cash Plus-Cash management services for corporate customers help customers substantially re duce their receivable collection time frame, improve cash flow and business management. Islamic banking services through exclusive units/ branches offering a range of obligation and asset ground sharia compliant products like musharika, murabaha, ijara and istasana. MCB peregrine banking-\r\nBanking at your figure tips. Dial in anytime to get learning regarding equaliser and miniskirt statements. At the forefront of technological excellence, MCB proudly introduces MCB MOBILE BANKING. The convenience of accessing your account residual information and mini statements whenever you want or wherever you whitethorn need them, with comfort and peace of mind. MCB vigorous Banking service is available to all MCB ATM cardholders, 24 hours †365 days. just call our Help Line on 111-000-MCB(622) or any MCB online branch for assistance. peregrine Banking at a Glance\r\nMCB Mobile Banking gives you easy and quick access to your account(s) at a time you find convenient, including al l holidays. Banking at your Fingertips With MCB Mobile Banking you can: split up your rest period View the last 4 transactions of your MCB account(s). A Free Service MCB Mobile Banking is a free service for MCB account holders who have an ATM card. All you hire for is the speak to of an SMS message if aerated by the service provider. MCB lockers- The surpass bulwark for your valuables. Lockers of different capacities are available nationwide.\r\nPyara ghar- waxy and warring home financing facility with options of home bargain for, construction and renovation. MCB car cash- Car financing and leasing at competitive rates with flexible options. Largest ATM Network- of 100 ATMs machine-accessible to worldwide ATM network of approximately 350,000 ATMs along with Cirrus and Maestro facility enabling MCB ATM card to be used All over the world & anywhere in the country. CUSTOMER happiness For any organization to succeed, it is extremely full of life to ensure node Satisfa ction.\r\nBanks being in service sector, it is highly important that high service standards be maintained and real value to their money is provided to its customers. In order to do so MCB took three ultra step: Provision of comparatively kick around service to its customers as compared to other banks through value added features of low cost, quick judicature of work and friendly environs. Modernization, Computerization of most of the branches enabled Bank stay abreast with the technology and provision of better service at the root level to its customers.\r\nBank also started an ongoing process of Branch face lifting creating a better congenial environment for its customers. In order to be more customers conscious, MCB started a very effective and punctual action system on Customer Complaints Departments in MCB Brief functions and responsibilities of departments at MCB are as follows. Human Resources and legal group: ? Recruitment. ? Training. ? designate & posting. ? Pro motions. ? Disputes. ? Staff loans. Banks operations group: ? Policy. ? Premises. ? Capital & operating expenses processing. ? Return & consolidation. ? Reconciliation. ? Product sales. Relationship co-ordination. ? Service standards. ? Customer complaints. Financial Institution & overseas group: ? Inter-bank exposure. ? Forex licensing. Financial chequer & Audit group: ? Audit & internal control. ? Budgeting & planning. ? supervise of expenses. ? Financial reports. deferred recompense & risk management group: ? realization proposal evaluation & analysis. ? Project financing. ? Monitoring of credit portfolio of bank. . Corporate banking group: ? billet of all multi-national & public sector companies. Consumer banking group: ? Penetration in high net-worth customers. ? Earning increase. Customer retention. Commercial banking group: ? Conduction of standard retail operations. Treasury & FX group: ? notes management. ? Investmen t management. Assets management group/ charade control group: ? Classified portfolio looks after. ? superfluous assets management. ? Restructuring / Rescheduling. ? Out of court settlements Information technology group: ? ATM / CIRRUS facilities. ? I. T. related to franchise management. ? SWIFT system. ? On-line branches network look after. ? Hardware / software support. MCB’s Management Hierarchy Business of MCB MCB is in it’s over 50 years of operation.\r\nIt has network of over 1,100 branches all over the country with business establishments in Bangladesh, Sri Lanka and Bahrain. The branch break-up province wise is Punjab (57%), Sindh (21%), NWFP (19%) and Baluchistan (3%) individually. MCB has an edge over other local banks, as it was the first privatized bank. The State Bank of Pakistan has restricted the number of The Consumer Banking of MCB provides customers with innovative saving schemes, products and services. The ATM network of MCB is the largest in Paki stan and the Pak Rupee Travelers Cheques are market leaders.\r\nMCB was the first to introduce the Photo Card with the launch of the MCB MasterCard. The Corporate Banking of MCB ensures assistance from a employ team of professional financial advisors for underwriting, project finance or corporate advisory services. When it comes to banking practices, the consumer can depend on MCB, because itd been around for over fifty years. The State Bank of Pakistan has restricted the number of branches that can be opened by foreign banks, an advantage that MCB capitalizes because of its extensive branch network.\r\n 8 years after privatization, MCB is now in a consolidation stage intentional to lock in the gains make in recent years and prepare the bottom for future growth. The bank has restructured its asset portfolio and rationalized the cost structure in order to remain a low cost producer. MCB now focuses on three core businesses namely Corporate, Commercial and Consumer Banking. Corporat e clientele includes public sector companies as well as large local and multi national concerns. MCB is also catering to the growing middle human body by providing new asset and liability products.\r\nThe Bank provides 24 hour banking convenience with the largest ATM network in Pakistan cover charge 9 cities with around 100 ATM locations. The Banks Rupee Traveler Cheques have been market leaders for the past six years. MCB looks with confidence at year 2002 and beyond, making strides towards fulfillment of its mission, â€Å"to become the preferred provider of feature financial services in the country with profitability and responsibility and to be the best place to work”. Corporate Banking MCBs Corporate Banking Team consists of dedicated professionals with the requisite expertise to take parcel out of the banking needs.\r\nThe Corporate Bank with 20 branches has its presence in all major cities of Pakistan. The Area Offices are set in Karachi, Lahore and Islamabad. Corporate Platforms have been established in the three principal cities where teams of dedicated Relationship motorcoachs have been posted. These Relationship Managers have been entrusted with the complete responsibility for managing the risk of their allocated portfolios, acting as allusion between the customer and the bank, and providing you with the entire range of products/services offered by the bank.\r\nThe products/services of the Corporate Bank are slackly divided into the undermentioned categories: running(a) Capital Loans: The working capital loan includes running play Finance, Cash Finance, Export Refinance, Pre-shipment and Post-shipment etc. termination Loans: Offer Short to Medium full term Finance to affect capital phthisis of the customer business needs. Trade Finance Services: Trade finances services that include an entire range of import and export activities including issuing Letters of Credit (L/Cs), purchasing export documents, providing guarantees and other support services.\r\nCash Management: The network of about 1100 branches in Pakistan enables the bankers to collect and disburse supportments expeditiously with the MCB cash management services. This also enables. the bankers to offer the customer’s choice of base establish or electronic fund transfer solutions including collection issue forths, rose branch on- line transactions etc. Investment Banking The Investment Banking Team of MCB has emerged as a leading player in Pakistans investment banking arena. The Team handles advisory, corporate finance and capital markets related transactions.\r\nWithin these areas, the investment banking team of the MCB has developed expertise in the following areas of the investment: mystic Placements Debt/Equity Underwriting Term Finance Certificates Loan Syndication Arrangement of Non- Fund Facilities Mergers and Acquisitions Financial Highlights The results for the year 2001 are thoughtful of sustaining all-around efforts over t he few years, to maintain profitable growth along with careful and proactive risk management and expansion of product range of customers. Pre-profit for the year 2001 was Rs. 2. 0 zillion as against Rs. 1. 32 trillion in 2000-a healthy increase of 59%. Growth in profitability is principally due to fund-based activities through efficient assets and liability management. Fee based income was lower notwithstanding increase in volumes due to competitive pricing and discontinuation of charges on PLS accounts. administrative expenses grew by 3% generally attributed to seize on effect of inflation and enhancement in Govt. levies. Pragmatic efforts are, however, under way to manage costs in relation to revenues to nurture improve the revenue/expense ratio.\r\n high level of provisions was in the line with the Bank’s policy to upfront recognize problem lending. In 2001, the Bank managed to recover Rs. 2. 19 billion as against Rs. 1. 97 billion in 2000. The balance sheet footings have increased to Rs. 187 billion from Rs. 175 billion primarily based on deposit growth. Deposits have registered a substantial increase of 14% and stand at Rs. 154. 5 billion in 2001 as against Rs. 136 billion in 2000. scorn of low PLS deposit rates, branch network has shown a commendable performance by increasing and managing the deposit mix.\r\nThis has been possible by improvement in customer services and targeted sales of products like ATM cards. Net advances as at December 31, 2001 stood at Rs. 76. 6 billion, a reduction of Rs. 9. 8 billion. learn for credit from manufacturing and export clients fell considerably, post September 11,2001, which led to a reduction in advances as on the balance sheet date from a higher level during the year. Leadership in Rupee Travelers Cheques: Sales have braggart(a) by 26% in the year 2001 and continue to reflect meteoric growth.\r\nWith the character theatrical role of the generic brand, increase in the range of denomination backed by a powerful verification system and over 900 branches choosed in this business. Leadership in ATM’s: With around 100 ATMs and 170 online branches, MCB is again an undoubted Indus leader with connectivity lengthy to 16 cities of Pakistan. In the year 2002 elevate ATM will be deployed and connectivity increased to other cities. MCB ATMs not only serve 24-hour cash convenience but also improve on the counter services and turn around time at cash counters. The MCB ATM Master Card with Maestro and Cirrus networks has become a global ervice furthering the convenience to our customers. Traveling customers can access their account from a large number of internationally deployed ATMs and point of Sale (POS) units. The MCB ATM Switch †MNET is now operational. IT assort of MCB has been able to create the largest network for determine electronic financial transactions in Pakistan. Local branches of six international banks are connecting to this network. This will enable particip ating banks to use each others ATMs resulting in an increased convenience to MCB customers and customers of other banks.\r\nThe IT Group is currently expanding the network capability to provide the customers access to banking through multiple electronic channels. American fetch Bank enters into an ATM communion alliance with Muslim Commercial Bank: Muslim Commercial Bank Limited and American Express Bank Ltd. signed a Memorandum Of judgement creating a reciprocally beneficial alliance, which will enable customers of American Express Bank to use ATM facilities offered by Muslim Commercial Bank. Mr. Taufiq A. Hussain, unsophisticated Manager, American Express Bank Ltd. , Pakistan in a unanalyzable ceremony in Karachi, signed the MOU.\r\nMCB has setup an ATM Switch called MNET and American Express Bank is the tetradth foreign bank to sign the sharing MOU. Speaking at the ceremony †AEB earth Manager said, â€Å"Customer service spirit is the cornerstone of AEBs philosophy and this initiative will significantly enhance our customer service capability for our consumer banking clients”. He added â€Å"After having considered various routes to acquire this capability AEB selected MCB as an paragon partner keeping in view the large network capability and long standing relationship with MCB”.\r\nMCB with a network of over 1000 branches in the largest private sector bank of the country. The Bank is a market leader in 24 hour banking convenience with the largest nationwide ATM network covering 11 major cities in all provinces of the country. CITI bank and Muslim Commercial Bank sign ATM sharing pledge: Muslim Commercial Bank and CITI Bank signed an ATM sharing agreement today. By the middle of this year, both Banks’ customers will be able to use the services of either Banks ATMs. Seen at the signing ceremony are Mr.\r\nHaroon Basheer Sheikh, Head of Consumer Banking and Information Technology †MCB and Mr. Nadeem Hussain, Genera l Manager Global Manager Global Consumer Banking †CITI Bank Pakistan with their respective(prenominal) team members. Standard Chartered Grindlays and Muslim Commercial Bank to launch co-branded credit card: Rated as Pakistans best banks (‘domestic and foreign respectively) by Euro money magazine Muslim Commercial Bank (MCB) and Standard Chartered Grindlays signed a Memorandum of Understanding to launch the first-ever joint servicing co-branded credit card in Pakistan.\r\nUnder the parade the partnering banks will have shared as well as distributed responsibilities to service the customers in line with their respective strengths. The league will derive its strength by cartel the large diversified customer base of MCB and the track record of Standard Chartered Grindlays in managing a successful credit card business in Pakistan. MCB, the largest Private Bank in Pakistan, has over quadruplet million accounts domiciled in 1100 branches across the country.\r\nStandard Chart ered Grindlays, the largest foreign bank in Pakistan, has over ninety thousand pleasant card members and is a leading international player in the cards business. With this new initiative the customers product of the two leading banks in Pakistan. This agreement further strengthens the relationship between these two banks; earlier this year Standard Chartered Grindlays signed an agreement to join MCBs switch/ATM network, the largest in the country.\r\nFAYSAL BANK LIMITED to sell Muslim Commercial Bank’s Rupee traveler’s cheques: Muslim Commercial Bank Limited and Faysal Bank Limited signed an agreement for the Sale and purchase of MCB Rupee Travelers Cheques at all 11 Faysal Bank branches in Pakistan. Main categories of Account inauguration form: Type of Account There is a fellowship of â€Å"Type of Account â€Å", the customer can strike out any option to open a certain account. Following are certain kinds of accounts: Current PLS-Saving MCB Saving-365 Khushali Bachat PLS Term Deposit New Foreign specie Account (Current/Saving) Currency\r\nThere is a category of â€Å"Currency” in the form: In this part there are four kinds of currencies are prone in which MCB opens account. They are: Pakistani Rupee US dollar genius of Account There is a category of â€Å"nature of account” i. e. Individual Partnership Sole proprietor Joint stock company Introduction Before enterprisingness an account a banker should ascertain hold out or not the person devouring(prenominal) of opening the account is a loveable customer. There is Reference section in the form in which the person who wants to open an account must(prenominal) provide a reference of a person who has already an account with MCB.\r\nFor current account only reference of current account holder is accepted whereas for saving account reference of any whether current or saving is allowed. Preliminary investigation is necessary because of the following reasons: ? To avoid fra uds ? Safe guard against unplanned overdrafts ? To avoid negligence ? To replay inquiries against clients ? To travel along with Prudential Regulations/Laws There is a exemplification signature card with the bank on which the signature of account holder is to be taken while opening of his account. And then he is issued with a cheque loudness.\r\nIt is aware that one must keep his cheque book under proper care but there are human faces that people sometimes lost their cheque books. In that discipline there is an employment form in the name of managing director is available and the customer who wants to get a new cheque book fills that form and gives it to the motorcoach then he is provided with a new cheque book. In other case a requisition fracture is present in the cheque book and whenever the customer wants a new cheque book he simply fills that requisition slipperiness and presents it to manager and gets a new cheque book.\r\nKnow your Customer In view of recent heigh tened global efforts to keep the possible use of the banking sector for money laundering, terrorist financing, transfer of illegal/ill-gotten monies and as a conduit for white collar crime etc, the grandeur of â€Å"Know your Customer” has increased. The objective of keen a customer is to have a fair idea about the identity, financial resources and general information about the customer at the time when the relationship is established. A banker must have following information about the customer: Customer’s Name:\r\nEnter complete name as finded in original identity element Card/other business documents. reputation of Business/Profession: If the customer is of stipendiary class then banker will enter his employer’s name. If the customer is a businessman, trader, touch on proprietor, then the banker will enter the business name. Also enter the customer’s surname/position and deal of the employer/business. languagees with P. O. recess are not a cceptable. Similarly retag like â€Å"Private Service”, â€Å"Business” are not acceptable, rather specify what type of company/business the customer is associated with.\r\nIn case of individual his prove chase away of national identity card or passport is required, in case of salaried person, attested photo repeat of his sarvice card. In case of partnership attested elope of identity cards of all partners is required and attested photo copy of â€Å"Partner ship Deed” along with a copy of Registration authentication with registrar of firms. In case of Company, Memorandom and Article of association, certificate of incorporation, certificate of commencement of business and attested photocopy of identity cards of all the directors is required. Address:\r\nEnter the complete residential/business address. Within the brackets you may also provide prominent address identification marks for ease of physically locating the address. come to Number: Enter home, offic ial, mobile, fax be and e-mail address (if available). Special instructions: Clear-cut operational instructions must be obtained from the customers. If the customer has not prone any special instructions in stipulate column, the column must be cancelled by drawing a line, as this column must not be left blank under any circumstances. The bankers considered the following points while opening the accounts:\r\nRemittances Department The next department I worked in is Remittances department. The incharge of this department, Mr. Khalid told me that there are four kinds of remits they deal in: ? Telegraphic Transfer ? Mail transfer ? Demand Draft ? compensate order Another parturiency of this department was to issue the traveler cheque and to give the ATM card numbers. present is a little detail of all of these works: Telegraphic Transfer: It is a facility provided by the bank through which a customer can bill or transfer any occur immediately. The procedure for the customer is s imple.\r\nAnd more significantly the person who wants to transfer the funds may not have the account in the bank even then he can avail this facility. The procedure is like this, a customer walks in and fills an application form named as â€Å"APPLICATION FOR remittal” in which he mentions the bank to which he wants to transfer the funds also the name of the payee, his account number, also he has to mention his own address etc. then there are charges for this special facility provided by the bank and the bank receives these from the person who is sending the funds. Further there are two kinds of telegraphic transfers:\r\nOrdinary TT TT The cut-and-dry TT reaches to its term after two days of its dispatchment whereas simple TT reaches to its payee immediately because the payee branch is aware immediately through telephone and fax. For ordinary TT only two vouchers are on the watch: Commission Voucher revenue impression Voucher Whereas for TT three vouchers are brisk: C ommission Postage name charges In the application form of TT there are two options available for the person who is sending the funds i. e whether the payees account is credit for the same(p) fare or payee is simply to receive the payment in hand. Documents Prepared:\r\nThe documents that are prepared for the TT are: TT register Remittances Confirmation of cable sent And afterwards substantial of these information are put down in a big register named as: Branch outward remittance register And after this procedure the respective branch is informed through telephone. Recommendations This whole procedure is quite lengthy and hectic. So the only recommendation that could be granted is, it must be computerized Another business of the accounts department is to give the customers the ATM card number. The procedure is like this that when a customer applies for the ATM card, he is given a certain time to collect the card.\r\nOn due date the customers gets his card from manager and for safety purpose the ATM number remains with the account department and the customer gets his number from there. Traveler cheque In account deptt there are two people working. One’s job is to issue the traveler cheque and the other is suppose to make the payment of TC. This work is separated for the purpose of safety and to prevent the frauds. When RTC is issued it is indite in Traveler cheque register and when it is salaried it is posted in MBIS. Traveler cheque register is used to maintain the stock of RTC’s.\r\nWhen RTC is issued HO RTC deptt. Is impute and when RTC is purchased it is debited. One of the person has the complete register of staff’s salary he maintains a staff salary register. The remittance facilities of the MCB are according to the need of the customer. Your benefactive role will receive the count even if he/she does not have an MCB account. The Remit Express facilities the MCB can be avail in the following Bank/Companies: Demand draft Dem and Draft can be explained as the operator which is account collectable on demand as its name implies the same, the value of which has already been authentic.\r\nThis musical dick is issued by one branch and payable at other branch of same bank or other bank’s branch e. g. DD issued by MCB payable by ACBL. use of issuance: The customer wants to make the DD fills in the same form or application i. e of remittances in which he mentions the DD, the beneficiary’s name, the place, the mode of payment i. e, whther he wants the payee to receive the cash, cheque or debit his account, signature and his name and address Check the application form. Commission is charged as per bank policy. Also take duty & withholding tax are recovered as per applicable rates.\r\n institution is then made in DD issued register. In the DD issued register, separate folio is allotted for each drawee branch and a serial control number is applied. The entries made is DD payable account is credited and cash is debited and when the payee receives the cash against DD, DD payable account is debited and cash is credited. Procedure of Cancellation of D. D. On receiving the application for cancellation in writing along with original DD the signature of the applicant is verify This signature should tally with the signature on DD application form.\r\nThen cancellation is marked in DD issued register and the drawee branch is Informed about cancellation. Issuance of pair DD In case of Lost/Stop Payment: application is received and signature is verified, then the drawee branch is informed about the loss of DD and further they are advised to tell the branch the status of DD i. e whether it has been paid or not. Then a echo of DD is issued with â€Å"Duplicate in lieu of original DD No____ go out____ report lost” written on its face. The ingeminate DD will have the same control number. PAY ORDERS:\r\nPay order is a kind of cats-paw issued and paid in the same branch. It is normally issued for payment in the same city. Procedure of Issuance of Pay order: The customer fills the remittances application form and mark check on pay order. On receiving application he is issued with a pay order after receiving charges. All pay orders are crossed i. e â€Å"Payees a/c only” Procedure of Cancellation of Pay order: On receiving application for cancellation of pay order along with the pay order, it is cancelled and cancellation charges are recovered. Duplicate Pay Order:\r\nIf the payment of pay order has not yet been made a reprise copy of it can be made on receiving application from the customer. The duplicate charges are recovered from customer. elucidation Department change: unclutter implies a system by which banks exchange cheques and other transportable instruments drawn on each other within a specified area and thereby secure payment for their clients through the elucidation foretoken at specified time in an efficient way. change do micil: In past State bank was indulged in illumination function i. e for the settlement of mutual obligations of different commercial banks.\r\nAs all banks have their accounts and keep a certain circumstances of the cash deposits as a obtain with Central Bank, it become easy to set up their mutual obligations by off-setting their accounts. The claim of banks against each other is settled by simple transfers from and to their accounts. These methods of settling accounts though the central bank, apart from being convenient is economical as regards the use of cash since account are adjusted through accounts, there is usually no need for cash. At present this function of state bank is performed by NIFT.\r\nAnd now clearing field of operations is a place where NIFT’s typicals of all scheduled banks sit together and interchange their claims against each other with the help of tyrannical staff of State Bank of Pakistan and where there is no branch of State Bank of Pakistan t he designated branch of National Bank of Pakistan acts as controlling member instead of State Bank of Pakistan. Reasons of Cancellation of Membership: When a bank is no longer a scheduled bank. When any bank fails to meet its liabilities. When It is proscribe to receive fresh deposits by State Bank of Pakistan or Central Government.\r\nAdvantages of Clearing: dAs clearing does not involve any cash etc and all the transaction takes place through book entries, the number of transactions can be unlimited. dNo cash is needed, as such the risks of robbery, embezzlements and pilferage are all told eliminated. dAs major payments are made through clearing, the banks came manage cash payments at the counters with a minimum core of cash in vaults. dA lot of time, cost and labor are saved. Since it provides an extra service to the customers of banks without any service charges or costs, more and more people are devoted and attracted towards banking.\r\nRules & Regulations of Clearing House: Timing: -Monday through Saturday 1st Clearing 10. 00 A. M. 2nd Clearing 2. 30 P. M. ? Cheques and other negotiable instruments are sent through NIFT’s representative for exchange. ? All the cheques and negotiable instruments must be properly stamped and fitly give the axed ? individually and every Cheque must be accompanied by an protest memorandum when returned unpaid duly initialed. ? Each bank is required to maintain sufficient funds in the principal account with SBP to meet the payment obligations. The State Bank of Pakistan debits the account of each member of the clearinghouse with the proportionate working expenses incurred on the operation of clearing house. These expenses are very nominal. Functioning of Clearing House: All the scheduled banks which are the member of clearing house, must maintain accounts with SBP, by debit and credit to which the clearing settlements are made. If on a particular day, a bank delivers Cheque and other negotiable instruments worth more than the innate list of Cheque received by it that banks account with State Bank of Pakistan will be credited with the differential amount.\r\nIf on the other hand the total amount of Cheque and other negotiable instruments drawn on a certain bank by other banks is more than the total amount receivable by it from other banks, then this banks account will be debited on that day. The Cheque delivered to the other banks through NIFT’s representatives for clearing are called outward clearing; whereas Cheque received from the representatives of other banks for payment are called inward clearing. How settlement is done in NIFT? Presume that MCB got the Cheque, which are drawn on fusion BANK, UBL and ACBL for amounts Rs. 50,000/-, Rs. 30,000/-, Rs. 5,000/- respectively, its total being Rs. 95,000/-. It means that this amount is to be credited to MCB A/c with S. B. P. On the other hand the Cheques drawn on MCB are from UNION BANK, UBL & ACBL of Rs. 15,000/- Rs. 75 ,000/- and Rs. 30,000/- respectively, its total being Rs. 1,20,000/-. It means that this amount is to be debited from MCB A/c. The discrimination between Rs. 95. 000/- credit and Rs. 120. 000/- debit is Rs. 25,000/- debit, which means the house, is against MCB for Rs. 25,000/-. If we separately show it then, MCB has to receive Rs. 50,000/- from UNION BANK and to pay Rs. 15,000/- to UNION BANK so difference is Rs. 5,000/- credit. MCB has to receive Rs. 30,000/- from UBL and to pay Rs. 75,000/- to UBL so difference is Rs. 45,000/- debit. MCB has to receive from ACBL Rs. 15,000/- and to pay Rs. 30,000/- to MCB so difference is Rs. 15,000/- debit. GRAND union: + 35,000, †45,000, -15,000 = -25,000 i. e. Rs. 25,000/- debit. Hence MCB A/c with State Bank of Pakistan will be debited with Rs. 25,000/- and the contra will be other banks accounts respectively. This is called as â€Å" debit entry and Credit Rule”. The amounts and number of instruments received are entered in the House playscript from the main schedules of the respective banks.\r\nThe State Bank of Pakistan maintains two major books for clearing house purpose :- category REGISTER. This book contains the information about the amounts and number of cheques received and delivered by each bank is noted down. Its columns are just like our clearing house- summon. HOUSE BALANCE BOOK: This book contains the amount and number of cheques received and delivered by each bank as well as the amounts which are to be received and paid to respective banks through their accounts by State Bank of Pakistan is written down. This book has the following columns:- |Initials |To Pay Amount |No. f Cheques certain/Delivered |Name of Bank|Received Amount |To Received Amount|Initials | both(prenominal) sides of this book are balanced. Vouchers are prepared from the slips received from the respective banks and the amounts are compared with this balance book. Summary of Clearing House Working: The working of clearing house may be summarized as under:- ? The instruments are delivered to the respective banks. ? The instruments drawn on our Bank are received from other banks. ? The amount and number of instruments received are entered in the House Book from the main schedules of respective banks. The amount of instruments delivered, received and the difference is written on a Figure slip provided in the clearinghouse and the slip is returned to the supervisor. ? The instruments are put branch-wise. ? Schedules are detached and unplowed safely. outward-bound illumination AT THE BRANCH: The following points are to be taken into love white an instrument is accepted at the counter to be presented in outbound Clearing: ? The name of the branch appears on its face where it is drawn on. ? It should not be stale or post dated or without date. ? Amount in lyric poem and figures does not differ. Signature of the drawer appears on the face of instrument. ? Instrument is not mutilated. ? There should be n o material allowance if so, it should be properly authenticated. ? If order instrument, suitably endorsed and the last endorsees account being credited. ? indorsement is in accordance with the crossings if any. ? The amount of the instrument is same as mentioned on the paying-in-slip and counterfoil. ? The title of account on the paying-in-slip is that of payee or endorsee (with the expulsion of bearer cheque). If an instrument is in order then our banks special crossing stamp is affixed across the face of the instrument.\r\nClearing stamp is affixed on the face of the instruments, paying-in-slip and counterfoil (The stamp is affixed in such a manner that fractional appears on paying-in-slip and half on counterfoil). The instrument is suitably discharged, where a bearer cheque does not require any discharge and also an instrument in privilege of a bank need not be discharged. The instrument along with paying-in-slip is well-kept while the counterfoil is given to the customer du ly signed. Then the following steps are to be taken:- ? The particulars of the instruments and the pay-in-slips or credit vouchers are entered in the outwards Clearing Register. Serial number is given to each voucher. ? The register is balanced, the credit vouchers are separated from the instruments and are released to respective departments against citation in the register. ? The instruments are arranged bank-wise. ? The schedules are prepared in triplicate, two copies of which are attached with the relevant instruments and the third is kept as office copy. ? The house page is prepared from schedules in triplicate. ? The Officer Incharge with branch stamp signs the schedules and house pages. ? The grand total of the house page is taken and hold with that of the outward clearing register. The instruments along with duplicate schedules and house-page are sent to the Main Office. ? as yet the amount is kept in float till final status of various instruments is known from respective paying banks in second dealing. The entry of the instruments returned unpaid is made in Cheques Returned Register. If the instrument is not to be presented again in clearing then a covering memo is prepared. The covering memo along with returned instrument and objection memo is sent to the customer who deposited the same in his account. INWARD CLEARING OF THE BRANCH: The particulars of the instruments are compared with the list. The instruments are detached and sort out department-wise. ? The entry is made in the Inward Clearing Register (Serial Number, instrument number, Account number and amount of instrument is written). ? The instruments are sent to the respective departments against mention in the Inward Clearing Register. ? The instruments are scrutinized in each respect sooner honoring the same. OUTWARD CHEQUES RETURNED UNPAID: These are the cheques returned unpaid by us presented to us in Inward Clearing due to some objections. INWARD CHEQUES RETURNED UNPAID: These are t he cheques returned unpaid to us, which were lodged by us in Outward Clearing.\r\nRETURN OF CHEQUES AFTER CLEARING HOUSE: Suppose all cheques received in the inward clearing are passed and later on it is found that a cheque should have been returned. In such cases, we contact the stash away branch and quest them not to make payment against the increase of the cheque which was not returned unpaid by us in due time. The cheque with objection memo along with a covering letter is sent to the collecting branch, making request to issue a payment order in our favor. To balance the cash-cum-day book we may debit scruple A/c Sundry debitors with the panegyric of the manager.\r\nWhen the payment order is received, it is lodged in clearing and the Suspense A/c -Sundry Debtor is adjusted accordingly. SPECIAL CLEARING: In addition to the normal clearing function at Clearing House it is mutually agreed to hold an extra clearing at the Clearing House on a particular day and time, which is kn own, as â€Å"Special Clearing”. It is arranged due to rush of work arising out of say, m\r\n'