General banking system of Uttara Bank Limited

Abstract

This report provides the general banking system practiced by UBL, that is basically the theoretical representation of what I have learned through both my educational life and real life work experience (Internship period). It includes a brief description of the organization I was in for my internship purpose (Uttara Bank Ltd, Mugdapara Branch),responsibilities I was assigned there with the observed discrepancies plus resolutions that I think they can consider upon. Banks and other financial institutions play a vital role in forecasting the economic and social condition of a country. Banks in Bangladesh now constitutes the core of the country’s organized financial system. The main task is to mobilize funds from surplus economic unit and deployment it to deficit economic unit and UBL is doing that successfully from its establishment. Customer satisfaction is very important for the reflections of the succession toward progress and expansion for any service institution. To keep the customers satisfied, UBL provides various types of service to its customers. UBL Principal Branch has three departments. These are: General Banking Department, Foreign Exchange Department and Credit Department. Through these three departments they serve their customers. General banking department provides service to the customers by doing the elementary tasks of the bank. This department has three sections: Main Cash with Cash Cell; Deposit Section i.e. Savings, Current deposit, FDR, SNTD, Clearing bills, accounts; These elementary tasks include account opening, providing master credit card, internet banking, offering different types of schemes to the customers, different types of bills and fees collection etc. Foreign Exchange department also play vital role by providing service to the customers. This department has three sections. These are: Export section, Import section and Foreign Remittance section. All these three sections Foreign Exchange department provides services to its customers. Credit department has two sections i.e. General Loan and Loan Recovery. Foreign exchange is an important department of Uttara Bank Limited, which deals with import, export and foreign remittances. It bridges between importers and exporters. This department is playing an important role in enhancing export earnings, which aids economic growth and in turn it helps for the economic development. On the other hand, it also helps to meet those goods and service, which are most demandable and not adequate in our country