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Internship Report on National bank of Pakistan (NBP)New 2017
Estimated reading time: 2 minutes, 41 secondsExecutive summary. My internship report on the national bank of Pakistan (NBP) is related to my experience and this national bank of Pakistan internship report 2017 is published for idea purpose only. Students are requested to create your own NBP internship report 2017.
of studies of MBA (Finance) from Virtual University of Pakistan and implication of this theoretical knowledge to practical knowledge which I learned from National Bank of Pakistan Quetta Cantt Branch (Br. Code 0052) during my internship which lasted for six weeks.
Internship Report on National Bank of Pakistan (NBP) Elements
NBP was built in 1949 after the two years of the foundation of Pakistan and its head office is in Karachi. The products of NBP are Premium Aamdani, Premium Saver, Saibaan, Advance Salary, Cash Cards, and Investor Advantage, Cash n Gold, Kisan Taqat, Kisan Dost, Pak Remit and Protection Shield.
In today’s competitive business environment, NBP needed to redefine its role and shed the public sector bank image, for a modern commercial bank. It has offloaded 23.2 % share in the stock market, and while it has not been completely privatized like the other three public sector banks, partial privatization has taken place. It is now listed on the Karachi/Islamabad/Lahore Stock Exchanges.
Introduction to Departments
- Accounting opening
- Deposit Department
- Advances Department
- Government Receipts and payments Department
- FBR Collections Department
- Remittances Department
- Sales Department
- Bills Department
- Compliance Department
- Cash Department
- Agriculture Department
- Human Resources Management
- Marketing Department
- MIS Department
- Online banking Department
- Islamic Banking Department
Government Receipts and Payments Department
National Bank of Pakistan has an elite and heavy functionality of working as an agent of SBP and on his behalf many types of government payments and receipts. Payments of Pension, Salaries, Grants, Zakat, Benevolent Fund, Treasury Refund and Taxes Refund are disbursed through the National Bank of Pakistan.
FBR Collection Department
NBP is playing a great role for the collection of FBR (CBR) taxes/revenue. A separate counter is established at branch level to facilitate the taxpayers.
Bills Department
Customers can collect their money through bills. They present their cheques, drafts and other bills for collection at the counter. The collection may be from any bank in Pakistan. These days Online Banking is more popular for this purpose.
Cash Department
Different types of Chest, Sub-chest and Non-chest branches of NBP are there. NBP also serves as a custodian of money being the agent of SBP. SBP supplies currency notes to NBP and SBP monitor the cash flow. Cash In charge and other cashiers deal with cash receipt and payment in the bank and only a limited amount can be put on the chest at a time.
Compliance Department
Role of branch compliance department is to settle the prescribed frequencies, investigate long pending reconciliation item, and ensure correct treatment after every half-year and clearing system service of branches in major cities of Pakistan. Internal control is the integration of the activities, plans, attitudes, policies, and efforts of the people of the bank working together to provide reasonable assurance that the organization will achieve its objectives and mission.
