General Banking

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Date Submitted: 05/28/2012 04:46 AM

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General Banking


4.00 Introduction:

General banking department is the heart of all banking activities. This is the busiest and important department of a branch, because funds are mobilized, cash transactions are made; clearing, remittance and accounting activities are done here.

Since bank is confined to provide the services everyday, general banking is also known as ‘retail banking’. In EXIM Bank LTD Principal Branch, the following departments are under general banking section:

1) Account opening section

2) Deposit section

3) Cash section

4) Remittance section

5) Clearing section

6) Accounts section

4.01 Account opening Section:

Account opening is the gateway for clients to enter into business with bank. It is the foundation of banker customer relationship. This is one of the most important sections of a branch, because by opening accounts bank mobilizes funds for investment. Various rules and regulations are maintained and various documents are taken while opening an account. A customer can open different types of accounts through this department. Such as:

1. Current account.

2. Savings account.

3. Short term deposit (STD).

►Types Of Accounts With Terms And Conditions :

Current Account:

Current account is purely a demand deposit account. There is no restriction on withdrawing money from the account. It is basically justified when funds are to be collected and money is to be paid at frequent interval.

Some Important Points are as follows-

❖ Minimum opening deposit of TK.1000/- is required;

❖ There is no withdrawal limit.

❖ No interest is given upon the deposited money;

❖ Minimum Tk.1000/= balance must always maintain all the time;

Savings Account:

This deposit is primarily for small-scale savers. Hence, there is a restriction on withdrawals...