General Banking Activities of Jamuna Bank Limited

Abstract

This paper entitled General Banking Activities of Jamuna Bank Limited originated from the fulfillment of the internship program. I was placed at General Banking Department of Jamuna Bank (Uttara Branch) in Dhaka and have gained knowledge about practical working experience of the real life with a closer look. It is very much important to match the academic knowledge with the practical one. Commercial banks play an important role in the financial system and the economy of a country as it allocate funds from savers to borrowers in an efficient manner. According to W. Hock, “Bank is such an institution which creates money by money only.” They are considered as to be the life-blood of modern economy and financial services provided by the banks help to run the wheel of the economy to move forward thus making the overall economy more efficient. They become the effective partners in the process of economic development and growth. A bank divides its operation mainly in three parts like General Banking, Loan & Advances and Foreign Exchange. Among these General Banking is one of the most important functions performed by a bank which acts as a foundation between banker-customer relationships. Jamuna Bank Ltd. provides all kinds of banking services like other banks. The major service area are receipt and payment of cash, clearing and remittance of bills, giving loans and advances, accounts opening, inward and outward mails, foreign exchange transactions etc. Jamuna Bank is offering different types of Deposit scheme, Monthly Benefit Scheme, Monthly Saving Scheme, Marriage Deposit Scheme, Double Growth Deposit Scheme, Education Saving Scheme, and Millionaire Deposit scheme are the most popular offers that are completely new innovation in the banking sector and widely accepted by the clients. This paper includes real life experience of working in Jamuna Bank which includes general banking activities such as- cheque requisition, dormant account activation, account statement, clearing, cash deposit and cash receipt etc. Beside general banking department there are other departments such as- credit/advance department and foreign exchange department. Some problems were identified which were included in the report and accordingly some suggestions were proposed at the end of the report.