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CHAPTER FIVE PROBLEMBS & FINDINGS
39
CHAPTER 5
PROBLEMS & FINDGINGS
Chapter Hints…... Chapter Contents……
• This section
is designed to
show the
details
problems &
findings
about JBL I
have realized
in my
internship
period.
• Problems.
• Findings.
CHAPTER FIVE PROBLEMBS & FINDINGS
40
5.1 PROBLEMS
As the general banking activities mainly deal with the mass people, it is very difficult
to ensure compliance and pure banking environment. But Janata bank limited is in the level high
for providing the best customer service as it aspires to be the most admired financial institution
in the country, recognized as a dynamic, innovative and client focused company offering in array
of product and services in the search for excellence and to cater an impressive economic value.
Nevertheless, it is facing some problems in performing general banking activities, some of which
are listed below:
a) Terms and conditions
In case of account opening, terms and conditions are printed on the back of the account
opening form. If it is so, applicants open their account being fully unaware of the same.
b) Problems of deposit money for the people
There is a provision of depositing a minimum amount of money at the time of opening
account and also maintain a minimum balance all the time. But it is not possible to follow
strictly, particularly for financially handicapped customers.
c) Problem for requiring documents
All types of accounts require some documents. Sometimes proper documentation cannot
be performed due to customer expectation and personal relationship.
d) Unconsciousness to renew trade license
Trade license must be renewed every year by the account holder and a copy should be
submitted to the bank branch and it is an obligation for all institutional accounts. But it is usually
seen that customers are not so conscious enough to perform his duty. That is why, it is very
difficult to collect renewed made license from the customer to maintain compliance.
CHAPTER FIVE PROBLEMBS & FINDINGS
41
e) Problems in personal relationship
Letter of thanks is to be sent to the account holder to confirm the authenticity of
address of account holder. But it is not followed all the time due to personal relations or to
manage the customer any way.
f) Concentrated service
Service is concentrated in few alternatives. No efforts are seen to diversify the offerings.
g) Misuse of office time
Office environment is hampered during first quarter of office time. This problem
happened mainly indiscriminate use of cell phone, unnecessary people gathering and exchange
of views among them.
h) Failure of depositing installment in time
As JBL transfers all installment of monthly deposit scheme on specific date from
respective savings account, it is very difficult to monitor the customer those who failed to deposit
the installment in time. Bank may face unexpected situation at the time maturity of those
account.
i) Problem of resection
No restriction for other officers of the branch to access to the cash counter.
j) Problem in monitoring transaction profile regularly
As per Bangladesh Bank guidelines, bank has to maintain transaction profile of all clients
and update the same at a regular interval. But it is very difficult job to monitor the transaction
profile of all clients and update regularly due to manpower shortage.
k) Problem in identification:
The bank is bound to take proper identification of depositor and beneficiary of the
instruments at the time of on line transaction. But sometime it causes customer dissatisfaction,
specially depositor and beneficiary of small amount.
l) Problem for delaying of cheque delivery
Currently, JBL introduced MICR coded cheque to ensure automated
clearing house. Three to four working days are required to collect a fresh cheque book as MICR
CHAPTER FIVE PROBLEMBS & FINDINGS
42
coded cheque book processed centrally from Dhaka. This delay of cheque delivery may result in
a great loss to the customer.
5.2 FINDINGS
Bangladesh’s foreign trade, both imports and exports, receive a considerable amount of
assistance from commercial banks and the direct participation of such institutions, a smooth flow
of foreign trade has been made possible through various facilities provided from time to time.
The assistance is forthcoming in different forms, both fiscal and financial, out of which
assistance is of prime importance. Thus, the role of the financial institutions is crucial in
promoting exports and import. The commercial banks finance the international trade directly by
giving finance help and also by supply to the importers and exporters. The commercial banks
finance the international trade direct by giving financial help and also by supplying to the
importers and exporters information about foreign buyers and overseas markets through market
research.
Commercial banks are playing an important role in financing international trade by providing
help to the customers in pre import finance, post import finance and pre export finance,

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Problems and Findings in JBL's General Banking Activities

  • 1. CHAPTER FIVE PROBLEMBS & FINDINGS 39 CHAPTER 5 PROBLEMS & FINDGINGS Chapter Hints…... Chapter Contents…… • This section is designed to show the details problems & findings about JBL I have realized in my internship period. • Problems. • Findings.
  • 2. CHAPTER FIVE PROBLEMBS & FINDINGS 40 5.1 PROBLEMS As the general banking activities mainly deal with the mass people, it is very difficult to ensure compliance and pure banking environment. But Janata bank limited is in the level high for providing the best customer service as it aspires to be the most admired financial institution in the country, recognized as a dynamic, innovative and client focused company offering in array of product and services in the search for excellence and to cater an impressive economic value. Nevertheless, it is facing some problems in performing general banking activities, some of which are listed below: a) Terms and conditions In case of account opening, terms and conditions are printed on the back of the account opening form. If it is so, applicants open their account being fully unaware of the same. b) Problems of deposit money for the people There is a provision of depositing a minimum amount of money at the time of opening account and also maintain a minimum balance all the time. But it is not possible to follow strictly, particularly for financially handicapped customers. c) Problem for requiring documents All types of accounts require some documents. Sometimes proper documentation cannot be performed due to customer expectation and personal relationship. d) Unconsciousness to renew trade license Trade license must be renewed every year by the account holder and a copy should be submitted to the bank branch and it is an obligation for all institutional accounts. But it is usually seen that customers are not so conscious enough to perform his duty. That is why, it is very difficult to collect renewed made license from the customer to maintain compliance.
  • 3. CHAPTER FIVE PROBLEMBS & FINDINGS 41 e) Problems in personal relationship Letter of thanks is to be sent to the account holder to confirm the authenticity of address of account holder. But it is not followed all the time due to personal relations or to manage the customer any way. f) Concentrated service Service is concentrated in few alternatives. No efforts are seen to diversify the offerings. g) Misuse of office time Office environment is hampered during first quarter of office time. This problem happened mainly indiscriminate use of cell phone, unnecessary people gathering and exchange of views among them. h) Failure of depositing installment in time As JBL transfers all installment of monthly deposit scheme on specific date from respective savings account, it is very difficult to monitor the customer those who failed to deposit the installment in time. Bank may face unexpected situation at the time maturity of those account. i) Problem of resection No restriction for other officers of the branch to access to the cash counter. j) Problem in monitoring transaction profile regularly As per Bangladesh Bank guidelines, bank has to maintain transaction profile of all clients and update the same at a regular interval. But it is very difficult job to monitor the transaction profile of all clients and update regularly due to manpower shortage. k) Problem in identification: The bank is bound to take proper identification of depositor and beneficiary of the instruments at the time of on line transaction. But sometime it causes customer dissatisfaction, specially depositor and beneficiary of small amount. l) Problem for delaying of cheque delivery Currently, JBL introduced MICR coded cheque to ensure automated clearing house. Three to four working days are required to collect a fresh cheque book as MICR
  • 4. CHAPTER FIVE PROBLEMBS & FINDINGS 42 coded cheque book processed centrally from Dhaka. This delay of cheque delivery may result in a great loss to the customer. 5.2 FINDINGS Bangladesh’s foreign trade, both imports and exports, receive a considerable amount of assistance from commercial banks and the direct participation of such institutions, a smooth flow of foreign trade has been made possible through various facilities provided from time to time. The assistance is forthcoming in different forms, both fiscal and financial, out of which assistance is of prime importance. Thus, the role of the financial institutions is crucial in promoting exports and import. The commercial banks finance the international trade directly by giving finance help and also by supply to the importers and exporters. The commercial banks finance the international trade direct by giving financial help and also by supplying to the importers and exporters information about foreign buyers and overseas markets through market research. Commercial banks are playing an important role in financing international trade by providing help to the customers in pre import finance, post import finance and pre export finance,