Cash division & ITs activities

Abstract

Banking sector of Bangladesh is one of the major sectors, which contributes significantly to the national economy. The sector comprises a number of banks in various categories. Considering ownership the sector can be classified in to four major categories - such as Nationalized Commercial Banks (NCBs), Specialized Banks (SPBs), Private Commercial Banks (PCBs), and Trans-National Banks (TNBs). BASIC Bank Limited is one of oldest commercial bank operating in Bangladesh. It has over the years created one of the largest networks among all the other banks in Bangladesh. Although a trendsetter in offering a various ranges of products in the market, the products offer by BASIC Bank are quickly imitated by competitors. The profitability of a bank always depends on the efficient management of fund and exploring the genuine avenues in which its resources are invested to produce the maximum income. In this report I tried to analyze Cash division and its activities of BASIC Bank Ltd. Cash is one of the important division for a bank. If the operation system of the bank is easier, then the clients accept it positively. Now it is a time when the banking section is too much competitive. If the operation policy is not good then it cannot exist for a long time in the market. BASIC Bank Ltd follows a simple strategy in its cash division. It trains its cash officers in such a way that they become more accurate in calculating and checking cash, along with that they behave politely with clients so that client get a positive image about the bank. As the bank does not do heavy advertising regarding its account, the atmosphere of the cash division make clients talk about the positively which attract more new customers. The Cash In Charge, direct the subordinates properly. Cash In Charge provides a message clearly to subordinate that, take your time, but do not make mistake to make it quickly. Cash officers get tremendous support from the Cash In Charge. All other divisions try to provide support so that cash division can concentrate more on the cash only. Cash division provides the surplus money to the Loan & Advances division, who conduct the investment part. Foreign Exchange division handles the letter of credit, export import letter or guarantee and so on. General Banking division does the rest of the work of the bank. The depth of the activity of the general banking division is lot more than others. Though, cash division does repetitive works, it needs to ensure quality and accuracy as well. In time of shortage of money, cash division make the arrangements, usually by taking loan from the central bank. The bank provides various service to the clients with a good range of products.