The roles of proper data storage system of Bangladesh Bank Sanchayapatra bond holders in IFIC Bank Ltd

Abstract

The internship report has composed based on my internship program and the data of Bangladesh Bank Sanchayapatra which has been issued by IFIC Bank LTD. Shantinagar Branch from 2012 to 2017 time period. During my internship period I spend my three month work opportunity in Shantinagar Branch. It was a great opportunity to work in one of the leading bank in banking industry and gather ample amount of corporate experience. My supervisor faculty helped me choosing the topic “The Roles of Proper Data Storage Syestem of Bangladesh Bank Sanchayapatra Bond Holders in IFIC Bank Ltd” which is a research based report prepared on the basis of 2012-17 Sanchayapatra bond raw data. The banking sector is getting more competitive in this new era of business. To cope up with the competition, the banks have to be proactive with least amount of error with regular database update process. While working in accounts division, I used to work with the Sanchayapatras. Transferring installment money, writing vouchers was my regular task. But after the internal audit, a lot of error came out which may create problem in future accountability to Bangladesh Bank. Most of the branches of IFIC Bank LTD. were having trouble with collecting the claimed money which has been paid to customers against previously issued sanchayapatra. Because there were lack of transparency in the records maintained by those branches. So, the decision was taken by the head office to take control of all the database maintenance and transactions of sanchayapatra. As per the instruction from head office, the process of recording database has been started from register copies to MS Excel worksheets. On top of that, the pending claimed money was claimed by maintaining softcopies of each token and OBC no. so that there is no money to be claimed after handing over the control of sanchayapatra to headoffice. Maintaining an updated database system is a must for every bank, specially a bank like IFIC Bank LTD. who is leading in home loan interest rates, takeover rates and FDR. Taking lead in the competition is necessary but to maintain internal operations is necessary as well for a flawless banking operations.