Should all cash deposit machines of BRAC Bank Limited be abolished?

Abstract

This report analyzes the importance of CDM machines at BRAC BANK LIMITED. For this report, a research was conducted at three different branches of BRAC BANK LIMITED. Surveys were conducted at the banks and interviews of randomly chosen clients of BRAC BANK LIMITED were also taken. Since I was actually completing my internship at BRAC BANK LIMITED, HEAD OFFICE it was possible for me to use their financial data and perform a financial analysis. To compare the financial analysis with other serviced offices, a question was included within the interview so that some idea may be developed. The results from all the research conducted revealed that CDM machines should be abolished from BRAC BANK LIMITED. Recently, the management committee decided to indulge clients in making cash deposits worth of taka seventy five thousand or less, to be deposited through the machines only. The clients could not be able to deposit cash through the cash services department. Despite of the fact that the number of cash deposits were made escalated on the first day of the new rule, the number dropped significantly by the rest of the days. To summarize, I have shown number of cash deposits for five consecutive days only. Some clients were in favor, whereas majority complained that it was a lengthy process for the time to reach the amount to the receiver’s account and experienced difficulty in operating the machine itself. A big chunk of the client base of BRAC BANK LIMITED, are the middle-class to lower middle-class income holders, who are not fully educated to be viable to operate this machine.