37606222 internship report on bank of punjab 2009 by kashif mba finance 03347019007
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5 Critical Analysis5.1 Critical Analysis of the practical exposure relating to theoretical conceptsThis part of report is the essence of the internship, as this will help other students to better understand the working environment of the bank by finding the relationship between what is written in the books and what is actually going on in fields. The theory written in the books in cases is not implemented as it is. In some cases theory is implemented with a little modification but in other cases theory has nothing to do with practice. In accounting, banks don’t prepare worksheet, but part of worksheet is prepared like trial balance, but little differences, theory and practice has substantial relationship. The securities for the loans are handled in the same way as theory says like mortgage, pledge, hypothecation, advances against insurance policies or liquidation procedure is the same. The difference is there in the case of loans. Theory talks about four or five terms of loans that is cash finance, overdraft, loans etc., but in practice there are some more terms used like running finance, demand finance etc. All other concepts of remittances, bills, foreign exchange deposits, letters of credit are in accordance with theory almost. So for a internee it is more important to learn new things which he/she has never heard about in his/her course book.To me, Theory gives you the direction to understand the processes and the terminologies going across the World using best business practices in a broader view covering each and every aspect of possible business scenarios. On the contrary practical life is specific, enclosed in a jar. In practical professionalism and firm’s environment is each and every thing. Professional life only builds on the knowledge based on books even though it may only use 1% of the theoretical knowledge.5.1.1 Computer systemThe system has not totally shifted on computer. Manual procedure is still there hence computer facility is not fully availed. There should be a system at each counter for quick processing.5.1.2 Right person for right jobDuring my internship I have observed the person who has came as customer Relationship Officer was acting as Cashier. It should not be like this. The person should be posted according to his qualification, profession skills and experience.5.1.3 Customer problem People have to wait for en-cashing their cheques for about 10-20 minutes, which is not good for the reputation of bank, the delay is due to manual work. Therefore I suggest that computers and other electronic machines should be installed in bank so that time could be saved.5.1.4 Deficiency in managementI felt at some places the BOP need to have employees, because a lot of work is to be done by a single employee that will result in work overload and employee might not perform his/her job with full devotion.TRANSCRIPT
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