HRMI619 Internship Report on Askari Bank Limited
All the staff helped me a lot in explaining the complicated procedures of bank. Madam Samia who is the operation manager helped me a lot. All the staff was very friendly and noble. The working environment of the bank was really comfortable. My parents, sisters and brother helped me a lot. I learned a lot there.
I want to say special thanks to my mother, Madam Samia and branch manager, Mr. Noor-ul-Islam.
I started my HRMI619 internship report on Askari bank from 12 Nov, 2013. On first day, I met to the branch manager Mr. Noor-ul-Islam. He gave me a small introduction of the bank. The bank has awesome running position now days and competing very well. I was told that I have to rotate among various departments of the bank. First I will go to Customer Service department. Then I will be sent to Account opening, Remittance, Clearing, Foreign Trade, Credits department, etc. The whole staff was so professional and cooperative. They gave me in depth concepts of every important thing. They didn’t mind, if I asked one thing again and again.
I found that Foreign Trade sector of Askari Bank is very well in imports and exports. Bank is greatly involved in exports and imports to achieve its target. Cotton is mostly exported and as compared to other banks, Askari Bank achieves its target easily.
Credits department is also doing very well and contributing a major share to the bank. Askari Bank is a successful Commercial Bank.
The thing that I found really well was that all the staff was trained to use advanced technology. A new version of Flexcube was used and staff was trained to use this new version.
The Bank has plan of opening several new branches to extend its network. Askari Bank has also branches in foreign countries. The Bank provides handsome salaries to employees to attract them and to inspire them to work more intelligently, efficiently. Bank also provides bonuses to employees and insurance department officer is much successful in attracting more and more people for insurance.
Remittance and Clearing departments are also doing well. The more clients were army persons and special discounts were offered to army persons. Askari Bank has provided advanced series to its 907,984 relationships. The Bank also provided bonuses to employees. Efficient, devoted and talented people are hired here.
Brief Introduction of the Organization’s Business Sector
Askari Bank was incorporated as Public Limited Company. Askari Bank’s major shareholding has been acquired by Fauji Consortium. It also works for welfare of army. The office of Army Welfare Trust is situated at AWTPlaza, Rawalpindi. AWT offers the “AWT Saving Scheme” to the army officials only. It principally deals with banking, as defined in the Banking Companies Ordinance, 1962. The Bank is listed on Islamabad, Lahore and Karachi Stock Exchanges.
Askari Bank remains committed to providing people with innovative and integrated financial solutions to all your day to day and one time financing needs, as well as offering various products and services to maximize returns on investments.
Its entity rating for short term is AA and for long term is A1+. Askari Bank effectively manages and mitigates all kinds of risks inherent in the banking business.
Askari Bank has expanded into a network of 240 branches, including 31 Islamic Branches and a wholesale bank branch in Bahrain. Askari Bank achieved planned growth in business and operations. This branch of Askari Bank has highest deposits as compared to other banks.
There are 82 branches of Askari bank in North region, 79 in Central region, and 79 in South region.
Askari Bank provides a complete array of tailored financing solutions like Term Loans, Letters of Credit, Letters of Guarantee, Bill Discounting, Working Capital Facilities, etc. The Bank also focuses on origination and execution of a full range of financial advisory and capital raising services to corporate and institutional clients as well as actively managing the bank’s proprietary investments in the local equity and debt capital markets. Askari Bank has gained strength with improved and efficient delivery and control mechanism for meeting increased demand for credit by farmers in easy, accessible and affordable manners. Askari Bank is also improving life standard of farmers through its distribution network.
Overview of the Organization
Askari Bank was incorporated in Pakistan on October 9, 1991 as a Public Limited Company. The acquisition of Askari Bank’s major shareholding is through Fauji Consortium, collectively holding 71.91 percent shares of the Bank. The change of sponsors has added further strength to the Askari Brand and under the umbrella of the Fauji Group. Its President and CE is Syed Muhammad Husaini. Askari Bank commenced operations on April 1, 1992.
Since inception, the bank has concentrated on growth through improving service quality, investment in technology and people, utilizing its extensive branch network which includes Islamic and Agricultural banking. It has achieved many awards. Euromoney and Asiamoney Awards were awarded in 1994, 1996, and 1997. Askari Bank has been given the “The Best Bank in Pakistan” award by Global Finance magazine for the years 2001and 2002. It was given “1st Consumer Choice Award 2004” by Consumer Association. Askari Bank has been given the “Best Consumer Internet Bank” award by Global Finance magazine for the years 2002 and 2003. The Bank was awarded twice as “Best Retail Bank in Pakistan” in 2004 and 2005.
Askari Bank ha expanded into a network of 240 branches, a shared network of 4173 online ATMs. Its net income is Rs 4.10 billion till 30 June, 2013. It has achieved planned growth in business and operations.
Nature of the Organization
To be the Bank of first choice in the region.
To be the leading private sector bank in Pakistan with an international presence, delivering quality service through innovative technology and effective human resource management in a modern and progressive organizational culture of meritocracy, maintaining high ethical and professional standards, while providing enhanced value to all their stakeholders, and contributing to society.
Passionate about customers’ success and providing them with quality of service.
A distinctive investment, delivering outstanding performance, return and value.
Exemplary compliance, governess and business ethics.
Caring for people and helping them to grow.
Dedication towards social development and improvement in quality of life.
In 2012, total shareholders’ funds were 19.688 million. Total assets were 353,056 million and liabilities were 333,368 million. Operating fixed assets to average shareholders’ funds are 47.20%. The local private sector bank collectively holds approximately 80 percent of the sector of the banking system.
Askari, an indigenous bank, operates in highly competitive environment. It endeavours to manage and increase its market share by offering innovative products and services backed by improve service quality and efficient operational processes. Askari Bank’s share in advances and total deposits of scheduled banks as on December 31, 2012 stands at around 4.6 percent and 4.2 percent, respectively.
The earning per share for the year ended December 31, 2012 amounted to Rs 1.54 per share against Rs.200 per share in 2011 on a diluted basis, a decrease of 22.9 percent.HRMI619 internship report on Askari bank.
Bank’s balance sheet footing reached Rs.353 billion, as at December 31, 2012, registering an increase of 2.7 percent over Rs.344 billion as of December 31, 2011.
The shareholders’ equity excluding the surplus, on the revaluation of assets, increased by 7.1 percent during the year.
Askari Bank has a comprehensive plan for future to ensure sustained growth and profitability. Provides strategic initiatives and solutions for projects, products, policies and procedures. It has a plan to optimize use of technology. The Bank has plan of opening several new branches. It has aim to provide reliable financial services in new branches also. It is going to open 3 new branches in Multan in coming days. I hope that Askari Bank will be more successful in future in achieving its business objectives as compared to other banks. It will compete more successfully especially in departments of Foreign Trade and Credit.
- Ask 4 Car
- Mortgage Finance
- Personal Finance
- Master Card
- Home Musharakah
- Value Plus Current Account
- Paishgi Munafa Account
- Askari Munafa Account
- Askari Bachat Account
- Rupee Traveler Cheques
- Kissan Evergreen Finance
- Kissan Abpashi Finance
- Kissan Livestock Finance
- Farm Mechanization Finance
- Kissan Tractor Finance
Alternate Delivery Channels
- Visa Debit Card
- I-Net Banking
- United Bank Limited
- National Bank Limited
- Muslim Commercial Bank
- Allied Bank
- Habib Bank Limited
- Bank AL Falah
- Bank AL Habib
Following is the detailed description of the departments, I worked in.
On First Day, I was sent to Customer Services department. I worked there for two days. Customer Service officer, Madam Arooj, guided me in a polite way. She told me about Cheques, online forms, deposit slips and other basic things. I learnt how to deal with clients and really got confidence. She also told me how to fill the forms for online deposits and demand draft.
Tasks Assigned to me in Customer Services Department
I filled the slips of credit card bills of many customers. I filled the forms for online deposits and demand draft. I handled many customers. During my internship, I was seated on her seat whenever she was on leave. I performed my duties of filling the online form, deposit slips, Cheques, demand draft, etc, very well.
Mr. Khurram is operating the Account Opening Department. Mostly people who open accounts in Askari Bank are army soldiers, salaried persons. Banks borrowings are in the form of deposits. Bank gets these deposits through opening an account. Following are some types of accounts and their detail:
Value plus Current Account
Askari Bank adds value to life. Whether one is individual or an organization, Askari Value plus Current Account promises amazing benefits and free facilities to meet ever growing financial needs on individual and organizational levels.
This account can be opened with minimum 25,000 Rs for individuals. Minimum monthly average balance requirements are Rs, 25000 for individuals.
For business opening balance must be 100,000. Minimum monthly average balance requirements is Rs, 100,000 for business
In case of short fall in minimum balance requirements, service charges for free services being offered will be charged as per prevailing Schedule of Charges.
This account offers following free facilities:
- Issuance of Visa Debit Card
- On-line fund transfer facility
- Issuance of Cheque Books
- 24 hours world-wide “Accidental Death and Permanent Disability” insurance coverage to Debit Card/ Visa Debit Card holders.
- Issuance of Cheque Books
This account can be opened b paying Rs. 5000. No interest is charged. This type of account is mostly opened by businessmen. There is no profit and loss on it. There is no profit and loss on it.
Askari Bachat Account
Askari Bachat Account is a Term Deposit designed for individual customer with investment appetite. It offers customers the option of investing for 1 year and has been designed keeping in view the saving needs of customers who want profit on a monthly.
Basic Banking Account
This account is opened with Rs. 1,000. This account is usually opened by salaried persons and low profile persons. No profit and loss is charged and no deduction of Zakat occurs.
Mr. Khurram told me that this type of account can be opened with any amount. Profit is charged at the rate of 6.5% p.a. Zakat is deducted twice a year. Many people came for account opening. He asked me to fill in the forms of many people. He guided me in a friendly way.
Account Opening Procedure
Account opening procedures are different for different types of accounts. For example, individual account opening procedure is different from joint account opening procedure. Details are given below:
When a single person opens an account in his name, he has the right to operate it. Such account is called individual account.
National Identity Card, proper signatures where required, proper filling of form, contact number, passport size photos are required. Then account is opened by depositing the money.
Such type of account in which two or more persons can open an account jointly, then such account will be called joint account.
National Identity Card of the persons opening the account, proper signatures where required, proper filling of form, contact number, passport size photos are required. Then account is opened by depositing the money.
This account is opened after the name of firm and not after the name of entrepreneur.
Copy of National Identity Card of owner, application of account opening on the letter-pad of the firm, proper filling of form, contact number are required.
HRMI619 Internship Report on Askari Bank
This account can be opened for partners of the firm and is named after the name of the firm.
Copy of National Identity Card of all partners, application of account opening on the firm letter-pad, proper filling of form, contact numbers, partnership deed in case of registered partnership firm, letter showing the authority of the firm are required.
Limited Company Account
Limited companies are of two types. Private limited companies have limited shareholders and their shares cannot be traded on Stock Exchange. While public limited companies have unlimited shareholders, and their shares can be traded in Stock Exchange. Bank helps such companies through this type of account to facilitate their transactions with outside parties.
- Memorandum of Association
- Articles of Association
- Resolution of Board of Director
- Copy of National Identity Card
- Certificate of commencement of business
Issuance of Cheque Books
Cheque books are issued for all accounts except fixed and term deposits. Account number, account holder’s name are written in the Cheque book.
To close the account, an application must be written to manager and Cheque book is returned to the bank. An individual can write this application on simple form while in case of limited company, application must be written on letterhead of the company and resolution of Board of Directors is also attached to it. Account closed is written with red pen and date of closing is also entered in the record.
Tasks Assigned to me in Account Opening Department
On first day, Mr. Khurram gave me a small introduction of account opening. He showed me the form of account opening and asked me to review it thoroughly. I read the form and asked him the points which I was unable to understand. He told me about the types of accounts. When I was in account opening department, many customers came to bank to open an account. Mr. Khurram gave me a chance to deal with them. I filled forms of many people, checked their documents and fulfilled the requirements for opening an account. In this way, during whole week, I dealt with many people. Mr. Khurram was on leave for two days. During those days, I handled customers, opened the accounts of many customers. I also checked the account balance of many people when I was asked by them to do so. I also handed over Cheque books to many customers and took their signs on register. Mr. Khurram also told me how NADRA verification of National Identity Card is done before opening an account.
Mr. Imran is the Incharge of TDR/CDR/VDC. He also issues ATM cards to people. He was very friendly and polite. He also told me about Term Deposits and provided me details of Askari Bachat Account. I have mentioned details of this account above. Monthly payable profit for one year is 8.5% p.a. while for 2 years this profit is 9.10% p.a. For issuance of ATM card a form is issued in which name of account holder, father name, National Identity Card number is mentioned. Application form is filled and sent to head office. A copy of National Identity Card number is attached with it. Head office takes the period of 3 to 4 days for preparing ATM cards and Rs. 500 are charged. After 15 days card is sent to issuing branch and then is handed over to customer. He provided me details about TDR and CDR.
Term Deposit Receipt is basically profit oriented in which specific time is three or six months or three years and customers are paid profit upon their deposit. Zakat is deducted. This is used for saving and customer cannot withdraw money during specific period for which he has deposited money.
For issuance of TDR, request from customer is received and TDR payment is always made through account. Only account holder can get the benefit of TDR.
TDR block is filled and complete information is written on it. Date of issuance of TDR, amount of money, signature of Accountant and Manager, all this information is written including account number.
On renewal of TDR customer fills in the application form and if he ticks the option rollover the same tenure, then there is no need of any further request, renewal will be done automatically. If he does not tick the option, then he will have to further process the request to extend the date of TDR which is mentioned on original TDR. 2.5 % Zakat is deducted from it.
Call Deposit Receipt is used for transfer purpose from one account to another. After receiving request and cheque from customer and after verifying both customer and cheque further process is carried out. CDR block is filled properly. Issue date, account number of account holder, amount, CDR serial number, all sections are filled properly. Crossing and transfer stamp is pasted on the cheque. CDR register is used to keep record of date of deposit, deposit number, account number, deposit receipt, etc. Customer can receive payment only through account. Zakat is not deducted.
Tasks Assigned to me in TDR/CDR/VDC Department
I worked in this department for two days. Mr. Imran who is the officer of this department told me about TDR and CDR. He did not assign any special task to me. He just gave me introduction of CDR and TDR. He told me about fixed deposits. However, he asked me to hand over ATM cards of many customers when he was not on his seat. But no special task was assigned to me in this department. I was just explained some concepts.
In clearing department, transfer of funds is done between banks. Mr. Ali is the clearing officer of Askari bank. National Institution of Facilitation Technology performs an important role in clearing. This institution was formed by State Bank of Pakistan. Banks send their clearing Cheques to NIFT. Then NIFT forwards these Cheques to State Bank. Then after sorting these Cheques, State Bank again returns these Cheques to NIFT. Then after clearing NIFT returns the Cheques to the banks. Mr. Ali told me that there are following types of clearing: HRMI619 internship report on Askari bank
When we send the Cheques to other branches for clearing then we say it outward clearing. It may be of three types:
- Same day Clearing
In same day clearing, cheque will be sent in the morning and payment will be received in the evening. It means that Cheque will be cleared on the same day on which it was deposited in the bank for clearing.
- Normal Clearing
In such type of outward clearing, cheque is sent and payment is received on the next day. Payment is not received on the same day.
- Intercity Clearing
Intercity clearing takes two or three days and is carried out between two cities. Cheques of other cities are cleared in intercity clearing. Now in many cities, intercity clearing is used most because this is not a time taking procedure. After receiving the cheques from different customers, they are entered into the intercity clearing register. Then these cheques are stamped, these stamps include crossing stamp, clearing stamp, intercity stamp, Payees Account Credited stamp. Total amount of all cheques is calculated and bundle cover of each city and summary reports are prepared. Then these cheques are sent to other cities through NIFT. After receiving NILL value and summary through NIFT, account is credited and vouchers are entered into the clearing sheet.
Inward clearing deals with receiving the cheques from other banks through
NIFT. NIFT employee takes them to the clearing officer after clearing who matches numbers with summaries, counts them and respective entries are made. For example, if I am involved in inward clearing and my account has debited then I can say that my account has been debited with the amount of cheque I have issued to someone. In inward clearing, debit entries are made. I felt really disappointed in that department, because I was not guided well in that department and I had to take information from internet to clear my concepts.
In case of objections, Memo is used that contains a list of objections. We select the objection due to which we have rejected the cheques. Some cheques are rejected and returned to their issuing branches. Balancing is done at computer in the clearing sheet after making all the entries.
Mr. Ali assigned me this task. I prepared many memos and list of rejected cheques.
Difference of Inward and Outward Clearing
- If liabilities are outstanding on our side then we will make H-O Credit Voucher. It means that bank has to pay difference amount.
- If liabilities are outstanding on their side then we will make H-O Debit Voucher. It means that bank is receiving difference amount.
Tasks Assigned to me in Clearing Department
I was assigned the task to prepare memos and list of rejected Cheques. I also prepared clearing sheets. I worked in this department for two days. On 2nd day, Mr. Ali was on leave. So I handled many customers and received Cheques from them for clearing. I sent these clearing cheques to NIFT. I found this department very interesting. I was also assigned the task of matching cheque numbers with summaries and I also did entries in the register. After rejecting some Cheques, I also did balancing at computer in clearing sheet after making all the entries.
Outward Bills for Collection
The bills which are sent to other cities for clearing are called outward bills for collection. OBC register is used to keep the record of such bills. Cheques are separated and attached with schedule. Original schedule is mailed. After clearing, these OBCs are sent back to with Inter Branch Credit Advice. OBC numbers are matched with the register entries, commission charges are deducted.
Inward Bills for Collection
Mr. Shafqat is the head of remittance department. He gave me following concepts. He was really friendly and polite. The bills which are received by the bank from other city branches for clearing are called inward bills for collection. Inter Branch Credit Advice register is kept to maintain the record of cheques. Inter Branch Credit Advice is prepared and mailed to the branch from where Cheque was received. At the end, two vouchers are prepared and posted.
Remittance department works for transfer of funds. Askari Bank is earning reasonable amount by providing remittance facility to public.
Demand draft is used for transfer of funds from account of one person to account of another person. Demand Draft does not include the signatures of the person.
Issuance of DD against cash
After depositing cash and entering voucher in Receiving Cashier book, DD is prepared. DD must not be made unless or until cash is deposited. DD must be prepared only after depositing cash. Issuance of DD against cash is discouraged.
Issuance of DD upon tender of Cheque
Account holder can purchase DD by tendering the Cheque of his account along with remittance application form. Cheque should be crossed “Account Payee Only”. The officer puts his signature into the application form. Cheque is entered into transfer book and posting is done.
It is used for making payments within city. It is issued and drawn by same branch. It is neither transferable nor negotiable. It is issued to customers for making payments within same city. It involves three parties: one is bank, other is Drawer who applies for pay order and the one is Drawee for which pay order is issued or to which payment has to be made. Any person can get the pay order from the bank. It is not necessary to become the account holder of the bank to get pay order from that bank. Its issuance procedure is same as of Demand Draft.
Tasks Assigned to me in Bills/Remittances/On Line Department
Mr. Shafqat is the head of this department. I collected many bills like gas, electricity, etc in this department. The officer told me how to prepare Demand Draft in computer. I was also assigned the task to fill the forms for Demand Draft. He provided me some notes and asked me to read them thoroughly. He gave me a chance of preparing a Demand Draft at his computer for many customers. Then I prepared many Demand Drafts at computer and also filled the forms for Demand Drafts of many customers. He also showed me pay orders. I was also assigned the task of making entries in the Inter Branch Credit Advice register to maintain the record of Cheques.
In accounting department, Mr. Shehzad told me that how can we check all he activities of bank in this department. Budgeting is also the function of this department. Daily expenses incurred by bank are also recorded in this department. I scrutinize many vouchers at computer that had posted by other departments. I checked all the vouchers individually. After checking all the vouchers, they were signed by Mr. Shehzad and internal auditor Mr. Abdullah.
Following are some other functions which are performed in accounts department:
- Lockers are also issued.
- Record of General Ledger is kept.
- Accounting statement
- Depreciation is calculated.
- Salary payment record is also in accounts department.
- Bank position statements are also prepared there.
To secure the important documents of people and their jewelry like diamond, gold, etc, bank offers the facility to its customers in the form of lockers. But no bank can allow this facility without the permission of State Bank. Bank has to pay fee to keep the facility of lockers in the bank. There are three types of lockers small, medium and large. Bank will also pay insurance in case of any sudden incident. This facility of insurance is for certain time period, after that time. To avail this facility charges have to be paid to bank. Two types of keys are used to open the lockers. One key is handed over to customer and other is given to bank officer who keeps other key with himself. This bank officer knows all details about the person who has locker in his branch. These details may include customer name, account number, signature of customer, his operating and leaving time, etc. During the whole week, I assisted Madam Samina in her work. She explained me some important concepts of accounts also. She was really very kind and humble lady. I enjoyed work with her. She was very friendly. She assigned me various tasks to observe business processes, banking functions deeply. I also went to Accounts department. I did a critical observation there.
Tasks Assigned to me in Accounts/ Lockers Department
I scrutinized vouchers at computer and checked them individually. Although I was in lockers department, but I also assisted Mr. Khurram in filling the forms of account opening. Customer Service officer, Mam Arooj was on leave for 2 days, so I also performed her duty for 2 days from 9 a.m. to 5 p.m. I also helped Mr. Ali who is clearing department officer. I helped him in making entries in register. I updated all record and I also stamped a lot of Cheques. Mr. Shehzad assigned me the task of scrutinizing Cheque numbers, vouchers with entries in computer. Those entries had posted by other departments.
Foreign Trade department deals with foreign currency, imports and exports.
Mr. Naveed is the head of this department. Mr. Umar, Madam Huma, Madam Nadia work in this department under the supervision of Sir Naveed.
Foreign Currency Account
A person can open account in foreign currency in the branch of Askari bank in which I did internship. No Zakat and income tax is deducted. Foreign Currency is sent through SWIFT. The procedure of account opening is same as of other accounts.
Funds are transferred in foreign countries through Foreign Telegraphic Transfer SWIFT. US Dollar, Pond, Japanese Yen, and Euro are foreign currencies. Askari bank has its agency arrangements in those countries where its own branches are not present.
Form-M and Form-E
Declaration of exports to custom authorities is done through form-E. A prescribed Performa is used for this form. It includes serial number of form, reporting period, currency, country code and commodity. At the end of the month, form-M is prepared to show that how many charges have deducted from the value of goods. This form includes serial number, amount and purpose.
When one country buys goods from another country, then we call it import. Rules and regulations of government are followed strictly.
To initiate imports:
- Import license is obtained from Import Trade Controller.
- Then a contract is signed including all terms and conditions.
- A letter of credit is issued by importer’s bank.
- Account party, issuing and negotiating bank, exporter or seller are involved in letter of credit. Importer will request his bank to open letter of credit; the bank will scrutinize the application and will ask to deposit cash or security. After complete satisfaction, the bank will issue letter of credit. Letter of credit will be sent to exporter who examines it and exports the goods to negotiating bank along with bill. Then negotiating bank will send the bills and documents to exporter’s bank after examining. After receiving the documents, issuing bank will check the documents.
- When the importer pays his all obligations, then the bank will release shipping documents.
- The exporter will obtain payment from bank after shipping the goods and obtaining shipping documents.
When one country sells goods to another country then we call it exports. Export Promotion Bureau controls exports of Pakistan. This institution takes measures to enhance exports of Pakistan. The steps mentioned in imports will be same for exports. Moreover, if exporter brings certificate of origin, commercial invoice, etc then after complete satisfaction, the bank purchases the export bill and makes payment to exporter.
In Foreign Document Bills for Collection bank collects the export bill on behalf of exporter on date of maturity. While in Advance Payment of Bills, bank pays to exporter before shipment.
Mr. Umar gave me clear concepts of Foreign Document Bills for Collection and
advance payment of bills. He told me details of export and import. Miss Nadia also helped me a lot. I also assisted them in their work.
Tasks Assigned to me in Foreign Trade Department
In Credit department, I was sent to Madam Mariam who was polite, humble and friendly. People need advances to fulfill their needs. They borrow money from bank. Bank collects important information about the borrower. Bank also checks accuracy of financial statements and accurate financial statements are prepared. Financial condition of the borrower is considered before giving advance. What type of business borrower runs and any other company is associated with his business or not. First of all a proposal is prepared to issue advance.
Banks checks the credibility of the business. The person applying for credit has to show the report of banks with which he deals. The businessman submits his attested Balance Sheet and Profit and Loss Statements to the bank issuing credit. Debt equity ratios are also calculated. The purpose of financing is mentioned very clearly. The securities offered by businessman like property, are also clearly mentioned. Then the proposal is sent to Manager who examines all documents and amount of credit is in the range of bank then he issues credit. If the amount is not in the range of bank, then he forwards this case to GM. If GM can afford the credit amount then he approves the credit proposal. If he too cannot afford the amount of credit then he will forward this case to head office. If head office approves it then credit is issued otherwise Board of Director decides that credit will be issued or not.
This credit or advance may be of two types. Secured advance is that in which security is taken by bank while unsecured advance or credit is that in which no security is taken. Funds are involved in issuing advances, Madam Mariam explained me two types of finances mentioned below:
The borrower has to mention the reason for need of cash. Askari Bank offers this facility to its customers. If credit is approved then amount is credited to the account of the customer. This credit can be issued against the property of the borrower. If credit is issued against pledge of stock then the gods are released only after doing payment on the delivery order of the bank. Goods in pledge are not released without recovery.
Running finance is issued to meet day to day expenses of business. Mark up is charged on it. Such type of advance is issued to manufacturing departments. It is also known as overdraft. For issuing such loan, a current account is opened and normally for the limit of three months, he can draw the cheque, otherwise it will expire. Mark up is charged on the basis of amount outstanding. Monthly installments for repayment are not necessary, but repayment must be completed till maturity date.
Term Finance is allowed for investment in business. The personal account of borrower is credited and Term Finance account is debited. Repayment is done in installments. Borrower has to pay installments regularly. Monthly repayment of term finance is calculated after division of principal amount by time period and mark up is added to it. In short we can say that it helps entrepreneur in investing in business.
Letter of Credit
Through letter of credit bank assures that importer will make the payment to exporter on time. If during that time, importer will be unable to pay then bank will have to pay. The importer fills the application form to issue letter of credit. He will give the details of shipment port and merchandize, etc. Credit worthiness, type of goods to be imported, market demand of those goods, in case of misshape the property offered as a security by importer, all these things are checked, verified and assured by the bank, then letter of credit is opened. The issuing bank sends copy of letter of credit to importer who mails letter of credit to exporter in another country. Importer bank keeps the copy of letter of credit as record. The exporter presents the letter of credit and required documents to the bank after shipment. If the importer’s bank is satisfied with the documents then payment is made to exporter. To open letter of credit the importer must be the account holder of that bank. I studied letter of credit of different importers and got briefing form Madam Saba. She told me that there are two types of letter of credit.
- Sight Letter of Credit
In such type of letter of credit, payment is made immediately to the exporter.
Many business men prefer it. The bank after receiving all the required documents immediately pays the money.
- Usance Letter of Credit
In such type of letter of credit, amount is paid to the exporter after a certain time period mentioned in the letter of credit. The amount has to pay till that due that mentioned in Usance letter of credit.
Tasks Assigned to me in Credit Department
I seated with Mr. Tayab for two days in corporate leasing department. He told me that in corporate leasing a person is allowed through bank to use someone else property for a specific period of time. And during that time, the person has to pay series of payments. The lessee is the receiver of the asset and lessor is the owner of the asset. The customer or lessee will purchase the asset through bank and will pay installments for a specific time. During that time he will have the right to use those assets. The bank will be the owner of the asset during duration of lease. Creditworthiness of the customers is checked. All details about the customer are collected by bank to know that whether he has the ability to pay installments for the purchase of asset or net. Lease will appear as expense in income statement. Lease contract will include terms and conditions of lease, liability, vehicle, insurance, termination, security, amortization schedule, etc. Mr. Tayab explained me following types of lease:
- Financial Lease
Such type of lease is usually more than five years. For example, automobile lease. Lessee has to bear the maintenance charges of the asset. Such type of financial lease cannot be cancelled.
- Operating Lease
In such type of operating lease contract, it is stated clearly that lessor has to bear maintenance charges. Such type of lease can be cancelled and comprises about one or two years.
- Leveraged Lease
Three persons are involved in leveraged lease namely lessor, lessee and lender.
Lesser borrows from lesser through giving the mortgage to lender. The lessor also receives the tax shelter. Such type of lease provides higher expected NPV to the lessor.
- Direct Lease
Any company may get the authority to use asset of others through lease. Lessee
pays lower lease payments to use the asset on lease. In this way lesser will achieve high economies. In such type of lease costs are related to manufacturer’s profit.
Askari Bank is facilitating leasing services to get maximum market share and to maintain company accounts with banks. Askari bank deals in commercial, non-commercial vehicles, machinery to achieve high economies of scale in leasing sector.
Mr. Tayab told me following points about leasing.
- Time period may be between 3 to 5 years.
- Rules will be same for army as well as civil persons.
- Financing terms can be changed at any time.
- Bank will follow SBP laws.
- In case of proprietorship, National Identity Card Number, national tax number, bank statement of the businessman must be obtained.
- Lease will only be terminated after adjusting all the outstanding dues.
- Creditworthiness of lessee, his bank statements must be checked. And lessee must have an account in the bank.
I learnt how to prepare the cases of clients. Mr. Tayab briefed me each aspect of corporate leasing. His behavior was normal. I cleared my points where I was confused.
Tasks Assigned to me in Corporate Leasing Department
I was seated with Mr. Naveed for two days. Askari Bank’s Agriculture and Rural Business Division has gained with efficient delivery for meeting increased demand for credit by farmers. Using innovative ideas, bank has enhanced product range to surpass its allocated targets for agriculture financing. ARBD has extended to 89 branches and remains proactively engaged with its stakeholders for aggregation of services and improving life standard of farmers through its distribution network. Mr. Naveed told me about following things of Agri Credits.
Kissan Evergreen Finance
Kissan Evergreen Finance was designed to help the farmers. Following are the details:
|Kissan Evergreen Finance|
|Product Type||Profit Earning Account|
|Security||Mortgage charge on Agree land through Zari Pass Book|
|Profit Amount||Profit on credit balances will be paid on half yearly basis as declared by bank on PLS saving account.|
|Markup||Mark up is charged for actual days the finance s utilized.|
Kissan Abpashi Finance
It helps the farmers in finance installations Tube-Wells, water management equipments, etc. Farmers can avail this opportunity only if they are Pakistani Residents.
Kissan Abpashi Finance offers following benefits:
- It helps in avoiding traditional modes of irrigation and waste of available water.
- It helps in managing natural resources through water management practices.
- It helps in developing mechanical water resources.
- It helps in making optimum use of available resources.
- It helps in overcoming scarcity of water.
Kissan Livestock Development Finance
People use this facility to purchase animals like sheep, goats, cows, etc without bearing extra expenditures because of availability at their farm. People can avail this opportunity only if they are Pakistani Residents. Kissan Livestock Development Finance offers following benefits to farmers:
- It helps in providing regular day to day income and helps in meeting consumption and surplus.
- This program has the ability to increase the income generation capacity.
- It enhances the repayment capacity of farmers.
Kissan Farm Mechanization Finance
It helps the farmers in financing for equipments which help the farmers in farming. Farmers can avail this opportunity only if they are Pakistani Residents. Farm Mechanization Finance offers following benefits to farmers:
- With the help of this program, farmer will be in position to use modern agricultural tools and equipments.
- Helps in improving per acre yield and in improving agricultural products to get good price.
- With the help of this program, agricultural products which are exported can be improved according to international standards.
Kissan Tractor Finance
This is the profit earning account. Farmers can avail this opportunity only if they are Pakistani Residents. Tenure for this type of account is 5 year. Kissan Tractor Finance provides following benefits to farmers:
- This program will help the farmer in availing non funded facility at a lower cost.
- If the loan is repaid as per terms of sanction then the borrower can get the bonus.
- The farmer’s life and tractor is insured.
- Priority in delivery of tractor will be given by manufacturer.
Tasks Assigned to me in Agri Credit Department
Human Resource Department
Madam Narjis was the human resource office of Askari Bank. I was seated with her for 2 days. Although there was not a huge department of Human Resource but according to format of report I asked her to clear my concepts. She briefed me in a polite and friendly manner. HR department is important department of every organization. If qualified HR officers are not hired then the organization cannot progress well. Innovative and talented HR officers are required by each and every organization.
Functions of HR Department
- a. Human Resource Planning and Forecasting
As the bank is aimed to provide value added services to its customers. This is possible only if the bank has hired efficient, hard working and dedicated staff. The efficient and dedicated staff is achieved through human resource planning process. For such planning, we must know the following things:
- We must know the goals and objectives of our bank.
- We must have an idea of present staff of the bank whether this is efficient or not.
- All planning must be done by keeping in mind the strategic objectives of the organization.
- Innovative fresh candidates must be given a chance even if they are not experienced.
- We must have an idea that how much staff may be needed in future.
Forecasting HR Requirements
Forecasting HR requirements is necessary. For this purpose, the data is
collected that how much HR is working well and it has contributed well to what extent. The performance of the whole staff is reviewed to forecast HR requirements. Forecasting HR requirements is needed to replace the staff and to meet the need of hiring talented and efficient people to compete in the market and to provide value added and quality services to its customers. The HR Manager and director is responsible for forecasting HR requirements.
Methods to Forecast HR Needs
All banks regularly hire Management Trainee officers, OG 1 and OG 2 officers
through proper testing and interview. Efficient, innovative as well as experienced people are hired by offering attractive salary packages and incentives.
There are no hard and fast rules for forecasting HR needs. I saw that managerial
judgment was mostly used for this purpose. Interviews with executives can be arranged to forecast HR needs. Statistical Approaches are also used. Group discussion can be used. Some officers retire from their job, and then new talented people are required to be hired to fill in the vacancies.
Madam Narjis also advised me to appear in the paper of OG1 and MTO. I acted
upon her advice and appeared in the paper of OG 1 of State Bank of Pakistan.
I have mentioned formal methods to forecast HR needs.
b. Employee Recruitment and Selection
Askari Bank has the aim to hire talented and efficient people. Hiring of new
innovative fresh candidates must be encouraged. Nepotism must be avoided. Sometimes people are selected from within the organization and are promoted instead of hiring new people to save time of hiring and to save time and money consumed for training.
During my internship, a new branch was opened and mostly people were hired and
promoted from the branch in which I was doing internship. Only few people were hired. But I do not like such type of hiring. Fresh and innovative candidates must be given a chance.
If employees within the organization are not available then positions are advertised.
Vacancies are announced and people are called for interview. A selection committee interviews the candidates who have applied for available positions. Then efficient people are hired who can work hard for the progress of the bank and can provide value added services to customers.
Sources of Candidates
Candidates are hired through two types of following sources:
When a post is vacant in the bank then existing employees who have relevant
qualification for such post are asked to apply for this post. If manager considers him a potential candidate and considers that existing employee has the ability to work well for new post then that employee is promoted. So we say that employee has hired through internal soure.
When vacancies are announced through advertisements, consultants, then it means
that external sources have used for hiring. Updated data base is reviewed, CVs are reviewed in detail and potential candidates are called for interview and carefully selected. Some external sources are very costly like consultants.
Employment Selection Process
When vacancies are announced, then some candidates are hired through written test
and short listed candidates’ are called for interview. They are selected after interviewing. Interview panel takes the interview. Interview may be structured, unstructured or mixed. Interview is conducted carefully and then selection is made. Selected candidates are informed through appointment letters. Employment selection process involves the following steps:
- Written test
- Short listed candidates are called for interview
- After interview candidates are selected and informed through appointment letter.
- Acceptance of employment offer within 15 days
- Candidates have to undergo medical examination
- Complete documents must be submitted. Then final selection has done. If documents have not submitted within six months then the employee will be dismissed. He will have to resign.
- c. Training and Development
Training and development is necessary to enhance the skills of employees
Askari Bank provides training to its employees to enhance the competitiveness of its employees and to make them work more efficiently and intelligently.
Training Need Assessment
Need of training is assessed carefully through following methods:
- If an organization faces any problem then it is examined that where that problem is located.
- If any job holder identifies the skills that are necessary to efficiently perform the job. Then he is trained.
- Analysis is carried out to see that employees are working well or not. If employees are not working well then they are assigned to training program.
- Sometimes training is considered necessary for employees who are working well but it is necessary to give them training to improve their performance.
Now I can say that training needs can be assessed through observations, self
assessment, customer complaints, and interviews with managers, customer surveys, etc.
After assessing the needs of training, programmes of training are assigned to
increase the efficiency of employees. Training is really necessary for development of employees to enhance their skills. Employee development is necessary and done through on job trainings, orientations, etc. training sessions are conducted to tell the employees that what they have to do to perform their assigned duties efficiently, intelligently and dedicatedly. In short we can say that training programmes help greatly in employee development, increase the chances of their success in efficiently performing their duties and decreases the chances of failure.
- d. Performance Management
Performance management deals with encouraging the employees, measuring,
evaluating, improving and rewarding their performance. The bank must create such environment in which everyone may feel comfortable while doing work at bank. Good performances must be encouraged and measures must be taken to improve the good performance of employees.
Setting Performance Standards and Expectations
- Performance will be up to the standard only if employees are working dedicatedly and willingly.
- If the employees have qualification and skills required for their tasks to be performed. Qualification must be in accordance with the post of the employee.
- We often face challenging tasks which help in fulfilling the objectives of the organization. If we assign such challenging tasks to employees then their effectiveness and competitiveness will be increased
How Performance Reports are written?
Performance reports are written to check the performance of employees.
Employees are also promoted on the basis of performance reports. Performance report includes the name, designation of employee, rating, department, etc. The employees giving poor performance can be warned or terminated. Employee showing poor performance is recommended training if necessary. However performance reports are not considered in case of salary and promotions. Sometimes employees are also sent three months notice in case of poor performance and are warned to improve their performance.
- e. Employee Compensation and Benefits
HR department also deals salary related issues. In Askari Bank, employees are
paid in accordance with the employment grade approved by Board of Directors. Allowances are also provided. Askari Bank offers high salaries to employees so they work more dedicatedly to get promotions.
Type of Compensation and Benefits
- Allowances will be provided to employees in accordance with rules.
- Pay of each employee is determined in accordance with its employment grade.
- In the event of revision of pay, the President can lay down the principles for reifixation of salary.
- Askari Bank offers house rent, medical, utility allowances to employees.
- Salary packages are offered time to time and are in accordance with regulatory requirements of the country.
- Mandatory leave of 15 days is provided to each employee and after that leave encashment is provided to employee.
- Employment old benefit facility has also provided to employees. Sixty rupees are deducted from the salaries of employees to submit in funds of medical program. Askari Bank provides the facility to enroll in Health Savings Account for comprehensive medical coverage of employee and his family.
f. Organizational Career Management
An individual evaluates his abilities and makes the planning of his career
according to his interest. Askari Bank has very skilled management which provides knowledge of career development techniques to employees. Organization Career Management helps in development of employees, helps in improving performance in respective areas of interest, helps in satisfying personal development needs of employees.
Employee job changes
Turnover rate is high in the Askari Bank. Existing employees are preferred over
new employees for vacant positions. In this way time and money of hiring and training new employees is saved but if no existing employee is eligible for the vacancy in the bank then vacancy is announced through advertisements. Potential candidates are called for interview and if selected then appointment letters are sent to them.
Job changes with the organization
Askari Bank announces the promotions on the basis of performance and
recommendation of general and regional manager. Clerical and Non-Clerical staff are promoted if they have passed written test and interviews. Some employees are promoted after the joining of six to seven months but some are not promoted even after the employment of six years. Top management decides verbally and HR department makes documentation.
When an employee stays in one branch for three years then he is transferred to
next branch. The employee may be transferred before three years due to any other reason r adjustment purpose. Bank can transfer the employee in any area and in any branch when required. Sometimes employees apply for transfer, and then they are transferred if possible. Top management decides which employee has to be transferred.
If the employee commits blunder, for example, does not obey the manager, does
not improve performance even after training, engage in theft, violates the rules of bank, repeats the same mistakes again and again the he may subject to demotion, termination and salary may be withholded.
If the work in bank becomes less and increase in employees cause increase in
cost then the bank offers Golden Shake hand scheme and incentives to employees to reduce cost and increase productivity of employees. The banks lay off its employee and pays redundancy to him as compensation.
Employee may be terminated because of following reasons:
- If employee commits fraud
- Shows inappropriate behavior
- Violates the rules of bank
- Engages in theft
- Shows poor performance again and again.
A person may resign due to low salary, unsatisfactory work conditions, does not get
promotion after a long time. Resignation letter is given by management to employees.
Retirement may be after the age of 60 years or pre mature retirement. The
employees at the age of 59 year are noticed by HR department to apply for leave as they are allowed of privilege or 180 or 365 days leave.
If an employee performs job for 25 years and then he is retired then it is called pre
mature retirement. The employee has to submit written request to get retirement benefits, his address, account number, family detail, liability certificates: so that he can achieve benefits after retirement. Gratuity is also allowed one time after retirement.
g. Labor Management Relations
In Askari Bank, the management has good relations with employees. There is not
any association in such context in Askari Bank. But employees have good relationship with each other and with the management. Employee can discuss his problems with the manager who listens and solves his problems. During my internship, I noticed that employees have good relationship with management and any employee can discuss his problem with management. And management solves his problem if possible. Discrimination, harassment, etc are prohibited at work place. Askari Bank has comfortable working environment for females also. In short I can say that management provides incentives, bonuses and other facilities to employees as a result employees are working more efficiently and dedicatedly.
In Askari Bank, I found that branch manager and especially operation manager Madam Samia has good and friendly relationship with employees.
During internship, I learnt that how much care and diligence is needed in the
banking job, a single mistake by an employee can create huge problem for the whole branch. Askari Bank is providing value added services to its customers. I observed that decision making is centralized and staff is not technically trained. I also observed that products of Askari bank like Askari car, Kissan Tractor Finance, Kissan Farm Mechanization Finance, etc, leasing sector may suffer badly. Because due to high interest rate, people avoid taking loans. Due to which bank may suffer loss.
During my internship, I found that the manager was thinking about downsizing. Askari bank has automated its procedures like receipt or payment as compared to that of other banks. Use of traditional methods has replaced with use of latest technology. The environment of Askari Bank is comfortable and dynamic as compared to other banks. I also came to know that Askari Bank is providing handsome salaries to attract and retain its talented employees. Some employees are working from 5 or 6 years but they have not been promoted. So HR practices related to promotion must be improved. Because promotion practices have positive relation with performance of employees.
Supervision is really strict and well aware of unusual activities, unusual movement of funds, etc. All employees particularly working in Customer service areas have established identity of every customer from reliable identification documents. Performance evaluation is not done well. Management must realize that proper performance evaluation can help in proper selection, promotion, training, etc. Compensation packages of employees and their incentives are not provided with respect to high rate of inflation.
However, I observed many times that customers are favored with regard to status. Employees have to behave in a manner which does not bring discredit to or impair the dignity or reputation of the bank. Askari Bank is competing well now days and has an awesome running position. Askari Bank seeks to attain the highest possible standards of performance and exercise care for others in employment related activities. Its Foreign Trade and Credit sectors are running well. It is earning huge amount of profits through this sector. Mostly I saw army soldiers coming to the bank as compared to civil officers. The bank provides special discount to army officers.
According to my point of view, Askari Bank is earning well and doing more
progress as compared to its competitors. Askari Bank will progress more rapidly in coming years and is going to open several new branches in coming days. New products and services are offered from time to time but not according to needs of customers. Charges on some services are high that may result in loss of customers. Askari Bank is contributing well in developing industry and in case of imports and exports, more customers prefer Askari Bank because of its strong audit system and small bad debts. So this bank has great attraction for foreign investment. Askari Bank is using latest technology and using latest version of Flexcube. Mostly people are selected from within the organization for promotion but I think new talented highly qualified people must be hired. They must be given a chance. Use of external source for hiring must be fair. Like agricultural development, new products must be introduced in investment, Islamic and other banking sectors for their development as well.
Following is the SWOT analysis of Askari Bank done by me:
- It is strongly related to army and works for the welfare of army, provides special discounts to army soldiers.
- Provides value added and quality services to its customers.
- Earning more share through Credits department and Foreign Trade department as compared to its competitors.
- Majority of people prefer Askari Bank for dealing in exports and imports.
- Remittance department officer is efficient and working dedicatedly. Mostly people in the area where bank is situated prefer to Askari bank for remittance.
- Introducing new trends for welfare of customers in agriculture sector and farmers are getting many benefits through its standard services and products.
- Askari Bank has efficient, dedicated, hard working, brilliant and friendly management and gives importance and respect to its employees and many incentives are provided to them by management to retain efficient employees.
- Provides 24 hour ATM facility.
- Provides high salaries to employees to make them work more efficiently.
- Deposits are increasing day by day rapidly.
- Uses latest version of Flexcube and adopts modern technology.
- The process of hiring employees is not carried out on merit. The process of selection and recruitment is not good.
- I found that many employees were disheartened because they are working dedicatedly but they have not got any promotion even after 5 or 7 years.
- It is providing more facilities to army officers as compared to civil. Due to which is can lose many customers because civil officers are not provided more facilities.
- I found that most respect was given by management to those people who are their relatives or friends as compared to other people and the most pathetic state is that they do not have to follow formal procedures for getting any facility from bank while other people have to follow all formal procedures which take a lot of time.
- Although the bank has on-line system but during my internship I found that on-line system was down many times. Internet facility is not enhanced.
- Scanner, printer and required stationery are not provided in required quantity. Two more scanners and printers are required.
- Askari Bank is availing the opportunity of rapid growth of leasing sector by providing Consumer Finance at low rates as compared to other banks and thus attracting more and more customers.
- Askari Bank has the ability to finance more and more industries. By providing financing to more industries, Askari Bank will earn high profit.
- Askari Bank has the ability to enhance its technology and become stronger. At present. It is using latest version of Flexcube. Askari Bank must emphasize on latest technology. It should enhance E- banking facilities and thus may be able to avail the opportunity of earning high profit by enhancing universal accounts and online facilities.
- Askari Bank has strong internal audit system due to which its bad debs are small. So it has great attraction for foreign investors. This may lead to increase in foreign investment and increase in share of bank.
- Askari Bank has the ability to enter into rural areas by establishing its branches in rural areas also. Thus it may also provide employment opportunity to people of rural areas. Day by day, new brands of products at lower rates of agricultural sector are increasing, thus contributing to agricultural development and causing increase in share of bank as compared to other banks.
- Other banks have more efficient staff as compared to Askari Bank. They are hiring intelligent, competent people having innovative ideas. This is a great threat for Askari Bank.
- Competitors of Askari Bank are working hard for increasing their products and adopting modern technology that is a great threat for Askari Bank.
- Askari Bank is charging high fees on some services as compared to its competing banks which may result in lost of many customers.
- Increase in number of banks is also a threat.
Askari Bank is operating very well and competing greatly. It has many competitors but has many opportunities to progress rapidly as compared to its competitors. Askari Bank is contributing in industry, exports and in increasing deposits. According to my point of view, Askari Bank will progress more rapidly in coming years. Askari Bank is increasing its agricultural facilities. Askari Bank has efficient staff but there is a bit need of hiring more efficient people.
During my internship I observed that Askari Bank is expensive for common people as compared to army soldiers because it provides many facilities and discounts to army officers as compared to other people. Charges on some services are so high due to which it can lose many customers. Askari Bank is concentrating on using latest technology and using latest version of Flexcube. Promotion practices and incentives provided to employees need improvement. Management must give more importance to promotion, selection, hiring issues to get better performance from employees.
Askari Bank is working efficiently in enhancing its products. Remittance and clearing department is also doing well. Askari Bank is providing value added services to its customers and has the ability to get success in international market and can attract more customers. Askari Bank has strong audit system and has small amount of bad debts. So Askari Bank is a great attraction for foreign investors. I got experience of practical work. Now I have the ability to deal with customers. Now I know very well about practical work of bank. According to my point of view, due to increase in deposits day by day, increasing number of account holders among which mostly are army soldiers and great success in Foreign Trade and Credits departments; Askari Bank will be a leading bank in international market also. Now I have the ability to start banking as my career and can work well as Account opening officer and Clearing officer as well. Leasing sector can progress more rapidly by providing Consumer Finance at low rates as compared to competitors. This bank is also financing many industries and earning high profit. Askari Bank is focusing more on agricultural development through which farmers are getting many benefits but more emphasis is required to introduce new and innovative products in Islamic and investment banking.
- Competent people having more convincing power must be hired to convince and attract more and more people for investment and for insurance and to convince more people for opening accounts.
- Retirement benefits must be improved.
- All employees must cooperate with each other.
- Products of the bank and customer services must be improved.
- Modern technology must be adopted.
- There is not any proper office for customer services. There must be proper office for customer services.
- Training programmes must be arranged for the development of employees.
- Charges on some services must be decreased.
- Promotion practices must be improved.
- Employees must cooperate with internees and must explain them important concepts. I felt difficulty in some departments about knowing important things, especially in Credits and accounting department.
REFERENCE AND SOURCES USED
- I also wrote notes during internship.
- I also took some important data from annual report of the bank.
I want to clearly say that the websites that I have mentioned above, I just have checked them to clear my concepts. I took some important figures from official website of Askari Bank. I did not copy a single word from anywhere. I have made my report with full devotion, dedication and hard work. This is my own sincere effort.
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