CHAPTER FOUR-4

LEARNINGS AND CONTRIBUTIONS

4.1 Learning and Contributions

As my internship was for two months, I was posted in various departments. So accordingly, I prepared my contribution and learning in the following manner. The department I worked was in total six namely remittance, credit/loan, deposit, bills/clearance, gold/silver loan and cash management, and last but not the least customer care. My two months passed on learning and contributing these six departments. The details of each department are presented below:

4.1.1DEPARTMENT-1: REMMITANCE [28 March- 6 April]

Contributions

Sodh Bharna Desk

Preparing schedules (sodh bharna) and journals for outward remittance. Entry and readied the scheduled for dispatch schedules to respective branch of

NBL. Checking of amount and schedule number of dispatched schedules either found in

the entry reports or not. Debited the amount of outward remittance relative to fax, web or draft with code

2, 10, and 5. Entry of dispatched schedules in DAK registers. Typed the voucher schedule for faxing to outward remittance. Faxed the voucher to the respective branch by printing the test key code.

Web Remit Desk

Inward remittance of various customers through web is extracted. Entry in excel sheet and submitted the form for print after verifying the respective

customer. Customers who brought the secret key for money was verified (passport,

citizenship card, license as asked) as the authorized person and fulfilled the form for payment.

Customers whose a/c was not in NBL but who endorsed the check of NBL were paid through check draft and verification of check.

Prepared commission vouchers, journal vouchers with respective account and customer name for web payment that are the a/c holder of other branch of NBL.

Big organizational web amount is extracted, preparing a journal and printed for the deposit in their respective account.

Sent OBC checks through web.

Learning

How to fill up the forms of web, fax, and draft. How to enter the web information in web using s/w of NBL i.e. Web Remit. Learnt to check if the a/c number is right or wrong using NBL s/w i.e. NEWTON. Learnt to prepare schedules (sodh bharna), DAK registers, and journals. Learnt briefly about SWIFT procedure for payment and sending which included

major parts like SWIFT code, reference number, beneficiary’s name, payee and payer bank’s name.

Learnt the processes involved in backward after a consumer deposits the money or withdraws the money from remittance i.e. debit and credit process.

4.1.2 DEPARTMENT-2: CREDIT/LOAN [7 April-16 April]

Contributions

Posted names, EMI amounts, a/c number, date of expiration, and other limits and valuation of loan, type of loan that is shifted from old register to the new one.

Calculated the interest amount of respective (auto loan, housing loan, overdraft, and margin lending) loan as per declared (quarterly, monthly using the days of either 79, 83 as months indicates).

Calculated penalty interest and compound interest whose time for payment was crossed over or become due.

Posted the calculated interest in respective loan holder’s a/c number. Checked the balance in current a/c or saving a/c of the loan holder to withdraw the

equal amount of installment or interest payment at due date with prior notice to the a/c holder. If sufficient, their interest/installment amount was withdrawn and posted.

Prepared vouchers when payment of installment/interest amount is paid by the loan holder to post in their account.

Prepared load statement in excel sheet for the month as required by the customer. Checked either the available documents presented by the loan applicant is fulfilled

as per the requirement by the bank with their cross checks, ex- auto loan documentation have cross check through chassis no, and license no.

Helped consumers who wanted to know their amount of loan, interest/installment amount that they need to pay. Similarly, solved other queries like due date for payment, new interest rates applicable, benefts of early payment.

Briefed consumers who wanted to know the information regarding loan and their types (basically focusing consumer loans).

Learning

About the requirements of documents for applying for various types of loans. About how valuation of land, building, shares, jewels were made with the

contingency features like margins, insurance and limits Learnt how entries are made for posting the entries of interest, installments, loan

clearing in the loan holder’s register.

How to calculate interest for different types of accounts with their given criteria of SI, CI and penalty charge.

How to prepare loan statement in excel sheet consisting various columns of date, amount, interest charge and balance.

Learnt to check the balance amount, name of a/c holder from relative s/w i.e. NEWTON using code 1250, 210, and 1450.

Learnt to write vouchers for payment made by loan holders.

4.1.3 DEPARTMENT-3: DEPOSIT [18-23 April]

4.1.4 DEPARTMENT-4: BILLS/CLEARANCE [25 April- 8 May]

Contributions

Bills Desk

Accepted other bank’s checks for the clearance and deposit in their respective accounts.

Verified the check with the slip of deposit consisting check no, a/c name, amount, name of bank, and a/c number.

Checked either endorsement in the backside of check is done or not, if it’s the check of any organization stamp of the relative organization is present or not.

Stamped with for clearance and authorized sign in slip and check both. Entry made in the register consisting clearing number, name of a/c holder, a/c

number, check number, bank’s name, and relative amount. Provided the cutting slip with clearing number to the customer. The check then entered in the computer s/w for an entry report according to the

respective bank is done fulfilling the required fields. Prepared H.O. 10 voucher for check to send for clearing that comes through OBC

of various other NBL branches, similar entries made in the ledger and computer as of above mentioned.

The checks that were of currencies like dollar, and IC were also posted accordingly.

Printed the entry report of checks after 3 p.m. and presented to the senior Sir/Madam for cross check.

If any wrong entries were made they were corrected and edited accordingly. After all checking, final report is printed consisting of each bank having three

copies. One for clearing, one for attachment to bank, and one for NRB. Detached all the checks and slips and re-attached the respective checks with their

copy of final report.

Clearance Desk at Bank [3 p.m. onwards]

Checks that were printed as final report are again entered in the excel sheet debiting the respective bank and crediting the Rastra bank for inward clearing and for outward clearing vice-versa.

Entered the check no, check amount in the column of individual bank as required. After entry the balance of total and final print of entry report is matched. Gave for cross checking to the senior sir/madam. Final print after cross checking showing the debit amount of inward clearing is

made and readied for the next day’s clearance to NRB.

Clearance at Central Bank [NRB at 11 a.m.]

Stamped signed with ‘clearance’ in front of all checks of NBL that were came for clearing from other banks.

Returned the earlier day’s checks similar to ours’ for clearing to other banks as per checks indication.

Returned dishonored checks were cancelled and the relative amount is deducted from NRB’s advice report.

Took the advice of NRs and dollar $ from NRB and matched the debited amount of respective banks with the credit amount of NRB.

Detached NBL checks and differentiated them according to KBO checks and NBL branch checks.

Advice of the respective bank (as was 3 copies) detached two to NBL branch bank, and one for KBO branch with attachment of checks. One copy submitted to NRB representing NBL name and date of clearance.

After 3 p.m.

Collected the dishonored checks and returned.

Clearance desk in Bank after Returning from Central Bank [at 12:30-3 p.m.]

All the checks that were cleared either of other branches or KBO were returned to respective branch representatives.

Debited the NBL checks amount from respective a/c holder’s name, and account number and credited the central bank. Similar entries were made by crediting other bank’s check amount after clearance and debited central bank.

If any inward checks were dishonored, they were entered in excel sheet and returned to respective branch or person.

Learning

Bills Desk

The procedures of depositing the checks by customer for clearance.

Procedures of entering in registers and computer software for future reference and print of entry report.

Editing of entries that were mistaken. Preparing vouchers and journals for OBC checks to send them through web, fax or

draft.

Clearance

Debit and credit process of NRB Clearing process of checks of outward and inward. How rectification of errors is identified through the entry in excel-sheet, and cross

checks. How dishonored checks are retreated for clearance with charges. How debit and credit of bank is matched in.

4.1.5 DEPARTMENT-5: LOAN AGAINST GOLD/SILVER, CASH INVENTORY AND MANAGEMENT [9-14 May]

Contributions

Gold/Silver Loan Desk

Prepared letter of demand for the payment of loan and or interest of the customers whose date of loan/interest payment is about to expire.

Telephoned the customers informing their action towards loan agreement and contact the bank as soon as possible.

Calculated interest of the customers’ loan against gold/silver on three months installment basis.

Posted interest in their respective account. Weighed gold/silver to calculate their valuation and amount of loan they will get. Recorded new loan holder’s name in daily register and filed their contract

agreement accordingly. Helped in finding the loan agreement paper of those customers who have come to

either renew or repay their loan amount. Provided the terms and conditions to the customers who came for the information

regarding loan and also gave them the form and contract paper for fulfillment.

ATM Management Desk

Provided the ATM card to those customers whose card has been captured in ATM machine due to either late emission, or wrong pin by fulfilling a slip and authorized signature.

Helped in keeping cash management in ATM machine on daily basis in an average of NRs.1 million that contained the notes of 500 and 1000.

Separated the old, tore, and new, fair notes from the bundles of notes to insert in ATM machine.

Checked the rolls of ATM receipts recording number of transaction each day.

Cash Management Desk

Counted bundles of notes (500 and 1000) with hand and machine both, approximately NRs.5 million.

Recorded the amount that was provided to other departments like remittance, deposit, withdrawal.

Bundled the counted note in terms of 100 notes each and covered with a slip and punched it.

Checked the IC notes and NC notes with Note Detection Machine for note’s originality verification.

Learning

The process of applying loan from collateral of gold/silver. Process of valuation of gold/silver on the basis of weightage of market rate and

bank rate. How to calculate the actual amount a loan holder will receive from after deducting

margin, insurance and cut off rates. How gold is weighed in the weighing machine and how probable weight is

determined. How notes are counted using hand and finger as well as machine. How fake notes are checked using note detection machine. How cash is kept in ATM, how captured card is protected from lost, how cash is

arranged in ATM boxes and so on. How ATM generally works. How gold is inventoried in vault. How contract is made between bank and the loan holder.

4.1.6 DEPARTMENT-6: CUSTOMER CARE [16-28 April]

Contributions

Print out the bank statement of the customers who brought their statement form or check book or authorized sign on a slip generally for three months. The statement of organization like HIMAL REMIT, IME, HULAS were very long and so printed cautiously.

Checked balance of those customers who wanted to know their amount in their account, usually to check the deposit of remit amount.

Received the slip for requirement of new check. Verified the sign, a/c number, a/c name of the customer before providing a new

check. Entries made in NEWTON for the issuance of new checks, and command it for

check print. The checks of current and saving a/c were different so they need to be changed in printer.

Entered the name, a/c number, check number (range) and date of issuance in the register.

Binding and wrote the name, a/c number, and date of issuance in the slip of new check and in cover of check.

Presented to senior sir/madam for verification and signature. Helped old aged customers in fulfilling the new forms, or closing the account. Informed customers about the documents required for new account, new interest

rates, and new schemes. Distributed ATM cards to the customers whose ATM was available after

verification and entry in the register. Entry made in computer of new customers, ATM holders, and closing of account

as per required in fields.

Learning

Procedures for form’s fulfillment of new account, closing a/c and or for ATM card.

About the requirements of documents needed for opening, closing and applying for ATM card.

Knew how balance of customers is checked and how balance statement is printed. Knew how a/c verification from old a/c number is done and how printing of

checks is done. To use scanner for scanning a/c holders photo, a/c number, phone number and

authorized signature. In developing good interpersonal skill, patience, requirement of displayed

emotion, and harmonious relationship with customers. Build up confidence in dealing with the customers efficiently.