Remittance Activity of Janata Bank

Janata Bank Limited
Remittance Activities; A Study on Janata Bank

Ltd
Table of Contents
Chapter Contents Page
No.
Letter of Transmittal i
Student Declaration ii
Acknowledgement iii
Executive Summary iv
Acronyms 5
1.1 Introduction 07
1.2 Origin of the Report 08
1.3 Objectives of the report 08
Chapter-1 1.4 Scope of the report 08
1.5 Limitations of the Study: 09
1.6 Analysis techniques 09
Introduction 1.7 Required data 10
1.8 Methodology of the Study 10
1.9 Flow Chart of the Study 11
Chapter-2 2.1 History of Banking 13

History of 2.2 History of Private Banks in Bangladesh 14
Banking in 2.3 Current Structure of Banks in Bangladesh 15
Bangladesh 2.4 Bangladesh Economy 2010-11 17
3.1 History of the Bank 19

3.2 Vision, Values, Mission & Objective of JBL 19
Chapter-3 3.3 Core operations: 20
The Bank at 3.4 Recent performance of JBL 21
a 3.5 Management Hierarchy of the Bank 22
Glance;
3.6 Corporate Social Responsibilities (CSR) 23
Janata Bank 3.7 Information of Branches 24
3.8 Products of JBL 25
Ltd.
3.9 Function of Janata Bank Limited as a 26
Commercial bank
3.10 Financial Highlights of JBL at a Glance 27
Performance Analysis
4.1 Introduction of the Issue 32

4.2 Justification of the Report 32
4.3 Bank Remittance 32
Chapter-04 4.4 Janata Bank Ltd.’s Remittance Activities 33
4.5 Local or Inland Remittance Activities of 34
JBL
Ahsanullah University of Science 1

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Janata Bank Limited
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4.6 Demand Draft (D.D.) 36
4.7 Payment Order (P.O.) 45
Remittance 4.8 Mail Transfer (M.T.) 48
Activities: 4.9 Telegraphic Transfer (T.T.) 50
Study on 4.10 Financial Data Regarding Local Remittance of 53
Janata Bank JBL. (RGSM Br.) Dhaka
4.11 Clearing House 55
Ltd. 4.12 Transfer Delivery 57
4.13Foreign Remittances Activates in JBL 59
4.14 Inward Foreign Remittance: 61
4.15 FDD [Foreign Demand Draft] 67
4.16 SRC [Speedy Remittance cell] 68
4.17Financial Data Regarding Inward Foreign 73
Remittance of JBL (RGSM Br.)Dhaka
4.18 Outward Foreign Remittance. 75
Chapter-05 5.1 SWOT Analysis of JBL 77

Finding & 5.2 Findings 80
Recommendation 5.3 Recommendations 81
Chapter -06 Conclusion 83

Reference/Bibliography 84
Appendix 85
List of Figure
Contents Page No.
Serial No.
Figure 1.1 Flow Chart of the Study 11
Figure 3.1 Organizational Structure of Janata bank limited 23
Figure 3.2 CSR activities of Janata Bank Limited of 2010 23
Figure 3.3 Product of Janata Bank Ltd. 25
Figure 3.4 Function of Janata Bank Limited 26
Figure 4.1 How a bank perform its remittance activities 34
Figure 4.2 Local or Inland Remittance Activities of JBL 35
Figure 4.3 Sample of Demand Draft 36
Figure 4.4 Sample of Demand Draft advice Book. 39
Figure 4.5 The process of issuance of D.D. 40
Figure 4.6 Sample of Payment Order 45
Figure 4.7 Example Receipt (MT/TT) 49
Figure 4.8 This is the simple of FDD. 67

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Janata Bank Limited
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List of Graph
Contents Page No.
Serial No.
Graph 3.1 Compare between Operating Profit and Net Profit of 27
JBL
Graph 3.2 Compare between Non- Interest Income and Interest 28
Income of JBL
Graph 3.3 Comparing Net Profit After Tax (NPAT) with four 28
Nationalized Commercial Bank of Bangladesh
Graph 3.4 Comparing Return on Investment (ROI) and Return 29
on Assets (ROA) with four Nationalized Commercial
Bank of Bangladesh
Graph 3.5 Comparing Earning per Share (EPS) with four 30
Graph 4.1 D.D. paid without advice both local and foreign from 42
2009 to 2010
Graph 4.2 Total D.D. Cancelled at JBL in 2009 and 2010 44
Graph 4.3 Total Payment Order Issued at JBL in 2009 and 47
2010
Graph 4.4 Total M.T. payable at JBL in 2009 and 2010 49
Graph 4.5 Total T.T. payable at JBL in 2009 and 2010 51
Graph 4.6 JBL RGSM Branch Dhaka Inward Local Remittance 53
earning in 2011
Graph 4.7 JBL Rajanigandha Super Market Branch Dhaka in Inward 54
Local Remittance earning from 2008 to 2011
Graph 4.8 Contribution of JBL in Foreign Remittance earning 62
from
2004 to 2011
Graph 4.9 National Inward Remittance of Janata Bank Limited 63
Graph 4.10 National Inward Foreign Remittance of Janata Bank 63
Limited
Graph 4.11 National Inward Foreign Remittance of Janata 64
Bank Limited (Last 3 months of 2011)
Graph 4.12 National Inward Foreign Remittance of Janata Bank 65
Limited (Last 3 months of 2011)
Graph 4.13 Total F.D.D. payable at JBL in 2009 and 2010 67
Graph 4.14 JBL Rajanigandha Super Market Branch Dhaka in Inward 73
Foreign Remittance earning from 2008 to 2011
Graph 4.15 JBL Rajanigandha Super Market Branch Dhaka in 74
Inward
Local Remittance earning in 2011.

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List of Table
Contents Page
Serial No. No.
Table 3.1 Number of Branches 24
Table 3.2 Table 3.2: List of Branches (Grade/Category wise) 24
Table 4.1 JBL RGSM Branch Dhaka Inward Local Remittance 53
earning in 2011
Table 4.2 JBL Rajanigandha Super Market Branch Dhaka in 54
Inward Local Remittance earning from 2008 to 2011
Table 4.3 Web-based Foreign Remittance Instant/Spot Cash 60
Payment System (EFT).
Table 4.4 Country wise Foreign Remittance of JBL from 2004 to 61
2010
Table- 4.5 National Inward Remittance of Janata Bank Limited 62
Table-4.6 National Inward Foreign Remittance of JBL (Last 3 64
months of 2011)
Table-4.7 JBL RSMB Dhaka in Inward Foreign Remittance 73
earning
from 2008 to 2011
Table-4.8 JBL Rajanigandha Super Market Branch Dhaka in 74
Inward Foreign Remittance earning in 2011
Acronyms
JBL Janata Bank Limited
CEO Chief Executive Officer
MD Managing Director
CSR Corporate Social Responsibilities
A/C Account
DMCBL The Dhaka Mercantile Co-operative Bank Limited
NPAT Net Profit after Tax
ROI Return on Investment
ROA Return on Assets
EPS Earning per Share
HO or H/O Head Office
PO Pay Order
DD Demand Draft
TT Telegraphic Transfer
MT Mail Transfer
CIBTA Computer Inter Branch Transaction Account
IBCA Inter Bank Credit Advice
IBDA Inter Branch Debit Advice
TIN TAX Identification Number
IBC Inward Bills for Collection
OBC Outward Bills for Collection
CAD Cash Against Documents
GD General Diary
IDT Inter Data Transfer
ESS Education Savings Scheme
F.D.D Foreign Demand Draft
F.T.T. Foreign Telegraphic Transfer
SRC Speedy Remittance cell
Chapter-01
Introduction
1.1 Introduction
This report has a certain purpose to focus on the operations of “Remittance” of Janata
Bank Limited. Without any doubt Remittance catches the flash as it has great
importance in the balance of trade in economy. Banks plays a vital role in this
discipline.
In the age of globalization, the importance of banking sector is beyond description.

Banking sector is going ahead with the improvement and invention of new services and
offerings to gather and retain more customers. Besides other banking activities
“Remittance” has become an essential part of a Banks daily activity to perform. In our
daily life we usually use the tools like DD, TT, MT etc. in order to sent money from one
place to another. Again, we know that foreign remittance has a great impact on our
national economy. Internship in Janata Bank Ltd (Rajanigandha Super Market
Branch Dhaka) has brought me the opportunity to know details about various tools of
remittance. At the vary beginning of the internee period, I was too much interested
about Loan sanctioning and recovery system of a bank like Janata Bank Ltd but in a few
days I recognized that my branch deals with “remittance” more then any other banking
activities including loans. Working with remittance system in daily Banking day turns
my attention from loans to remittance which creates the background of the study.
Janata Bank Limited
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1.2 Origin of the Report
Although total B.B.A. program combines an excellent blend of theoretical and
classroom knowledge but aside this internship program facilitates a student to bring
light on their theoretical knowledge to apply this in practical ground.
This report is based on an internship program at Janata Bank Limited to gather practical
knowledge about banking activities. This is followed by practical experiences in the
Rajanigandha Super Market Branch Dhakaof Janata Bank Limited. Each intern must
carry out a specific project, in order to report on specific activity of the organization.
Consequently a report based on the projects is to be submitted to both the authority of
Janata Bank Ltd and the University. My topic for this internship report is “Remittance
Activities:Study on Janata Bank Ltd”. Janata Bank Ltd deals with almost every
activities of Banking but Rajanigandha Super Market Branch Dhaka has a special
involvement with remittance. So it is the main reason behind choosing this topic.
1.3 Objectives of the report
1.3.1 Broad Objective:

The broad objective of this report is to prepare a detailed report on Janata Bank
Remittance Activities and understand the techniques, problems and possible solutions
associated with the issue.
1.3.2 Specific Objective:

The specific objectives of the study are as
follows:
 To describe different activities in the Remittance section of Janata Bank,

Rajanigandha Super Market Branch Dhaka.
 To find out the problems in those activities
 To suggest some recommendations to the problems
1.4 Scope of the report

This study would focus on the following areas of Janata Bank Limited.
 Actual Remittance activities of Janata Bank Limited.
 Overview the current procedure of remittance management.
 Overview the current procedure of inward and outward foreign remittance
management.

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 Organizational structures and responsibilities of management.

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Janata Bank Limited
Remittance Activities; A Study on Janata Bank Ltd
Each of the above areas would be critically analyzed to determine the proper efficiency
of
Janata Bank‟s Remittance Management system.
1.5 Limitations of the Study:
There were some problems while conducting the study. A whole hearted effort was
applied to conduct the study and to bring a reliable and fruitful result. In spite of this,
there exist some limitations, which acted as a barrier to conduct the study. The
limitations were:
Time limitation: It was one of the main constraints that affected covering all aspects
of the study.Very short time frame- the report had to be conducted in a short duration
(3 months).
Lack of Secondary Information: The Remittance data of Janata Bank Ltd. is not
much available over the net. Secondary source of information was not sufficient for the
completion of the report.
Limitation of the Scope: Much confidential information was not disclosed by

respective personnel of the department
 In many case the relevant authorities are not helpful to provide information.
 The organization maintains strict confidentiality about their financial and
other information. They are afraid of any type of information leakage to
their competitors. So there was always difficulty to have appropriate
information from them.
 The main difficulty of the study was insufficiency of current information
relevant to the study.
 Consolidated data related to the study were not given due to time shortage.
 All required information was not available in any specific branch of the
bank and there was also limited opportunity to visit more than one
branch.
 Duration of the study was too short to find out the exact calculation from
the employee.
 Scope of my study is so wide that analytical and comprehensive study is
not possible.
 Lack of sufficient books, papers and journals etc.
 Web site of the Organization isn‟t up to date to gather valuable information.
1.6 Analysis techniques

Both qualitative and quantitative methods were applied for preparing this report. The

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data were analyzed and presented by Microsoft excel and shows percentage,
graphical presentation and different types of charts. Best effort was given to analyze
the numerical findings.

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Janata Bank Limited
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1.7 Required data
I have mainly focused on numerical data in preparing the report. Also I have used
theoretical portion as the demand of the report. Analyzing Remittance management of
a bank, both theoretical and technical knowledge are necessary for execution. Then
everything with accuracy, I have analyzed and made conclusion.
1.8 Methodology of the Study
While conducting the study, sources were explored for primary information and data.
But hardly any updated data could be found. In the absence of updated information or
data dependence on secondary data has been inevitable. However, whenever possible
primary data has been used. Data were also collected by interviewing the responsible
officers and from some documents & statements printed by the Janata Bank Ltd. Janata
Bank Ltd. also helped me in collecting data providing books and Bank‟s annual
report.
1.8.1 Study Design

This study is descriptive in nature and so was conducted using assessment of different
historical data along with other sources.
1.8.2 Sources of data

Primary:
a) Personal interview-Face –to-face conversation and in depth interview with the respective
officer of the bank.
b) Practical work exposures on different aspects of this field.
Secondary:
A. Annual report of JBL.
B. Relevant documents related to the study as provided by the officers.
C. Periodicals published by Bangladesh Bank.
D. Different publications and relevant circulars.
E. Official website of JBL
F. Manuals of JBL

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1.9 Flow Chart of the Study
PLANNING
DESIGNING THE LAYOUT
THE APPROACH
 The Literature Review
 Theoretical Consideration
METHODOLOGY
SUBMISSION OF
THE
PRIMARY SOURCES SECONDARY SOURCES

a) Face to face conversation a)Annual report
with Bankers b)Working papers
c)Office files
d)Selected Books
COLLECTING INFORMATION
ANALYZIN
G
PREPARING THE REPORT
SUBMISSION OF THE
REPORT
Figure -1.1: Flow Chart of the Study

Janata Bank Limited
Chapter-2
History of Banking in
Bangladesh

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Janata Bank Limited
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2.1 History of Banking
The first banks were the merchants of the ancient world that made loans to farmers
and traders that carried goods between cities. The first record of such activity dates
back to around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during
the Roman Empire, lenders who were based in temples made loans but also added
two important innovations: accepting deposits and changing money. During this
period, there is similar evidence of the independent development of lending of
money in ancient China and separately in ancient India.
The origin of banking, in the modem sense, is traced to Italy. The word “Bank” also
seems to have originated from Italy. The word Bank is supposed to have been
derived from the German word “Banck”, meaning a mound or heap (like a small
hill), from which Italians adopted „Banco‟. Others believe that the word bank has been
derived from „Bancus‟ or „banc‟ or „Banque‟ which means a bench at which the money
changers or mediaeval bankers used to charge one kind of money into another and transact
their banking business. The early banking was, however, closely associates with the
business of money-changing.
Bangladesh inherited its banking structure from the British regime and had 49 banks
and other financial institutions before the Partition of India in 1947. Bengal Bank,
the first British-Patronized modern bank established in India in 1784, had opened its
two branches in 1873 in Sirajganj and Chittagong of Bangladesh region. Thereafter,
another branch of Bengal Bank was opened in Chandpur in 1900. A number of other
branches of Bengal Bank were opened in this region and some branches had been
closed in Course of time. There were six other branches of Bengal Bank in operation in
the territory of Bangladesh until the Partition of British-India in 1947 and these
branches were at Chittagong (1906), Mymensing (1922), Rangpur (1923), Chandpur
(1924), and Narayanganj (1926).
Following the emergence of Pakistan in 1947, Stat Bank of Pakistan, the Central Bank
of the country, came into being in July 1948. Later, the National bank of Pakistan, a
strong commercial bank was set up in 1949. In all, 36 scheduled commercial
banks were in operation in the whole Pakistan until 1971. Pakistanis owned most of
these banks and only three of them namely, National Bank of Pakistan, Habib Bank Ltd.
and the Australasia Bank Ltd, had one branch of each in East Pakistan in 1949.During
1950-58, there other Pakistani- owned banks, Premier Bank Ltd., Bank of Bhowalpur
Ltd. and Muslim Commercial Bank, had Opened their branch in East Pakistan. Four
Pakistan-owned banks, the United Bank Ltd., Union Bank Ltd.(Note: the United
Bank Limited and Union Bank Limited were renamed
as Janata Bank. ), Standard Bank Ltd. and the commerce Bank Ltd. Conducted banking
business in the Province during 1959-1965.But all of them Had their headquarters in
west Pakistan. East Pakistan had only two banks Owned by local business groups white
headquarters in Dhaka. These were the Eastern Mercantile Bank Ltd. (Presently
Pubali Bank Ltd.) and Eastern Banking Corporation Ltd. (Presently Uttara Bank Ltd.)
established in 1959 and 1965 respectively.
In the beginning of 1971, there were 1130 branches of 12 banks in operation in East
Pakistan. The foundation of independent banking system in Bangladesh was laid

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through the establishment of the Bangladesh Bank in 1972 by the Presidential Order
No. 127of 1972 (which took effect on 16th December, 1971). Through the Order, the
eastern branch of the

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Janata Bank Limited
former State Bank of Pakistan at DhakaLtd was renamed as the Bangladesh Bank as a
full- fledged office of the central bank of Bangladesh and the entire undertaking of the
State Bank of Pakistan in, and in relation to Bangladesh has been delivered to the
Bank.
Bangladesh Bank has been entrusted whit all of the traditional central banking
functions including the sole responsibilities of issuing currency, Keeping the reserves,
formulating and managing the monetary and credit policy, regulating the banking system,
stabilizing domestic and external monetary value, preserving the par value of
Bangladesh Taka, fostering economic growth and development and the
development of the country‟s market.
Janata Bank Limited is the 2nd largest state owned commercial bank in
Bangladesh. Immediately after the liberation of Bangladesh in 1971, the erstwhile
United Bank Limited and Union Bank Limited were renamed as Janata Bank.
The rate of growth and development of banking sector in the country was extremely
slow until 1983 when the government allowed to establish private banks and
started denationalization process: initially, the Uttara Bank in the same year and
thereafter, the Pubali Bank, and the Rupali Bank in 1986.
Modern banking system plays a vital role for a nation‟s economic development. Over
the last few years the banking world has been undergoing a lot of changes due to
deregulation, technological innovations, globalization etc. These changes in the
banking system also brought revolutionary changes in a country‟s economy. Present world
is changing rapidly to face the challenge of competitive free market economy. It is well
recognized that there is an urgent need for better, qualified management and better-
trained staff in the dynamic global financial market. Bangladesh is no exceptions of this
trend. Banking Sector in Bangladesh is facing challenges from different angles
though its prospect is bright in the future.
2.2 History of Private Banks in Bangladesh

There were no domestic private commercial banks in Bangladesh until 1982; When the
Arab- Bangladesh Bank Ltd. commenced private commercial banking in the country.
Five more commercial banks came up in 1983 and initiated a moderate growth in
banking financial institutions. Despite slow growth in number of individual banks, there
had been a relatively higher growth of branches of nationalized commercial banks
(NCBs) during 1973-83. There number had increased from 1512 in 1973-74 to4603
in 1982-83.
Financial sector reforms to strengthen the regulatory and supervisory framework for
banks made headway in 2006 although at a slower than expected pace. Overall
health of the banking system showed improvement since 2002 as the gross Non-
performing Loans (NPL) declined from 28 percent to 14 percent while net NPL (less

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Janata Bank Limited
Provision) reduced to 8 percent from 21Ltd percent. This led significant improvement in
the profitability ratios. Although the Private Commercial Banks (PCB) NPL ratio
registered a record low of 6 percent, the four Nationalized Commercial Banks (NCB)
position are still weak and showed very high NPL at

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25 percent. The NCBs have large capital shortfalls with a risk-weighted capital asset
ratio of just 0.5 percent (June 2006) as against the required 9 percent. For the PCBs
risk-weighted capital asset ratio stood at 10 percent. Bangladesh Bank issued a good
number of prudential guidelines during the year 2006 and the first quarter of 2007
which among others relate to:
•Rationalization of prudential norms for loan classification and provisioning,

•Policy for rescheduling of loans,
•Designing and enforcing an "integrated credit risk grading manual",
•Credit rating of the banks, and
•Revisions to the make-up of Tier-2 capital.
2.3 Current Structure of Banks in Bangladesh

The commercial banking system dominates Bangladesh's financial sector. Bangladesh Bank
is the Central Bank of Bangladesh and the chief regulatory authority in the sector.
The banking system is composed of four state-owned commercial banks, five
specialized development banks, thirty private commercial Banks and nine foreign
commercial banks. The Nobel-prize winning Grameen Bank is a specialized micro-
finance institution, which revolutionized the concept of micro-credit and contributed
greatly towards poverty reduction and the empowerment of women in Bangladesh.
2.3.1 Central Bank
 Bangladesh Bank
Pursuant to Bangladesh Bank Order, 1972 the Government of Bangladesh reorganized

the Dhaka branch of the State Bank of Pakistan as the central bank of the country, and
named it Bangladesh Bank with retrospective effect from 16 December 1971.
2.3.2 State-owned Commercial Banks
The banking system of Bangladesh is dominated by the 4 Nationalized Commercial

Banks In which 3 are totally controlled by government and 1 (Rupali Bank) bank is
controlled by both government and private sector. , which together controlled more
than 54% of deposits and operated 3388 branches (54% of the total) as of December
31, 2004.[1] The nationalized commercial banks are:
Nationalized Commercial Bank of Bangladesh:

1. Sonali Bank
2. Agrani Bank
3. Rupali Bank
4. Janata Bank
2.3.3 Private Commercial Banks
Private Banks are the highest growth sector due to the dismal performances of
government banks (above). They tend to offer better service and products.
1. United Commercial Bank Limited
2. Mutual Trust Bank Limited
3. BRAC Bank Limited
4. Eastern Bank Limited
5. Dutch Bangla Bank Limited
6. Dhaka Bank Limited
7. Islami Bank Bangladesh Ltd
8. Uttara Bank Limited
9. Pubali Bank Limited
10. IFIC Bank Limited
11. National Bank Limited
12. The City Bank Limited
13. NCC Bank Limited
14. Prime Bank Limited
15. Southeast Bank Limited
16. Al-ArafahIslami Bank Limited
17. Social Islami Bank Limited
18. Standard Bank Limited
19. One Bank Limited
20. Exim Bank Limited
21. Bangladesh Commerce Bank Limited
22. First Security Islami Bank Limited
23. The Premier Bank Limited
24. Bank Asia Limited
25. Trust Bank Limited
26. ShahjalalIslami Bank Limited
27. Jamuna Bank Limited
28. ICB Islami Bank
29. AB Bank
30. Marcantile Bank Limited
2.3.4 Specialized Development Banks

Out of the specialized banks, two (Bangladesh Krishi Bank and RajshahiKrishiUnnayan
Bank) were created to meet the credit needs of the agricultural sector while the other
two ( Bangladesh Shilpa Bank (BSB) & Bangladesh ShilpaRinSangtha (BSRS) are for
extending term loans to the industrial sector.The Specialized banks are:
1. Bangladesh Krishi Bank
2. KARMASANGSTHAN Bank
3. RajshahiKrishiUnnayan Bank
4. Progoti Co-operative Landmortgage Bank Limited (ProgotiBanK)
5. Grameen Bank
6. The Dhaka Mercantile Co-operative Bank Limited (DMCBL)
7. Bangladesh Development Bank Ltd
8. Bangladesh Someday Bank Limited(Cooperative Bank)
9. Ansar VDP Unnyan Bank
10. BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank
Limited)
2.3.5 Foreign Commercial Banks

1. Citibank
2. HSBC
3. Standard Chartered Bank
4. Commercial Bank of Ceylon
5. State Bank of India
6. Habib Bank Limited
7. National Bank of Pakistan
8. Woori Bank
9. Bank Alfalah
[Source: www.bangladesh-bank.org -Financial System >Banks , Bangladesh Bank
&http://en.wikipedia.org/wiki/List_of_banks_in_Bangladesh]
2.4 Bangladesh Economy 2010-11

Bangladesh is an advantageous position in relation to world average growth and the
growth of emerging and developing economies. Bangladesh maintained a steady
growth in 2010 despite global financial turmoil, but given the increasing demand, the
growing power and energy shortages and poor infrastructure remained major
impediments to the country‟s industrial growth. Economic growth in Bangladesh has so
far been only insensibly affected by the ongoing global slowdown, attaining 6.7 percent
teal GDP growth in FY 11 following
6.0 percent growth of FY 10. (Appendix- )
Foreign exchange reserve in more than USD 10.14 billion even after ACU
adjustment Agriculture sector achieved a strong growth of 4.7 percent in FY 10 Growth
rate of industry sector slowed down from 6.5 percent in FY 09 to 6.0 percent in FY
10, Service sector consistently experienced a moderately high performance, contributing
to its increasing share in GDP. During the year 2009-10 contribution of service sector in
GDP is 49.9 percent. Gross investment as percentage of GDP increase, recording 25.0%
of GDP in FY 10 compared to 24.37% of GDP in FY 09.
Total foreign remittance during FY 10 stood at USD 10.99 billion, registering a
growth of 13.4% over FY 09. Remittance from Saudi Arabia constituted the major share
(30.87%) of the total inward remittance.
Janata Bank has contributed much to attain the achievement in all above sectors and boost
the economy of the country during the year under report.
Chapter-3
Profile of Janata Bank Ltd. at a

Glance
3.1 History of the Bank
Janata Bank Limited is the 2nd largest state owned commercial bank in
Bangladesh. Immediately after the liberation of Bangladesh in 1971, the erstwhile
United Bank Limited and Union Bank Limited were renamed as Janata Bank. The
established of Janata Bank was happened under the Bangladesh Bank order 1972. It
was incorporated as a public Limited Company on 21, May 07 vide certificate of
incorporation No-C66933 (4425)07 in the early era of privatization. The Bank has
taken over the business of Janata Bank at a purchase consideration of Tk. 2593.90
million as a going concern through a vendor agreement signed between the Ministry of
Finance of the Peoples‟ Republic of Bangladesh and the Board of Directors on behalf
of Janata Bank Limited on 15th November 2007. The operation of Janata Bank Limited
works through 851 branches and including 4 overseas branches at United Arab
Emirates and a subsidiary company named Janata Exchange Company Srl in Italy. It is
linked 1202 foreign correspondents all over the world.
3.2 Vision, Values, Mission & Objective of JBL

3.2.1 Vision
Become the effective largest commercial bank in Bangladesh to support socio-
economic development of the country and to be a leading bank in south Asia.
3.2.2 Values
Professionalism
Diversity
Growth
Values
Integrity
Dignity
Accountability
3.2.3 Mission
Janata Bank Limited will be an effective commercial bank by maintaining a stable
growth strategy, delivering high quality financial products, providing excellent
customer service through an experienced management team and ensure good corporate
governance in every step of banking network.
3.2.3 Objective
The bank plays a vital role in socio-economic development of Bangladesh
A) Agro credit.
B) Micro credit
C) SME Credit
D) Project loan (Industrial credit)
E) General Loan
 Maximize profit through customer satisfaction and contributing in national economy.
 Doing foreign exchange and trade to uphold the national interest and balance of
trade in favor of Bangladesh.
 Blocking all kinds of illegal monitory activities with emphasis on money
laundering as per Govt. instructions and Bangladesh Bank Circulars.
 Brining new technology based high quality customer service and products
through IT such as ATM. ONE STOP SERVICE, ONLINE BANKING.
CREDIT AND DEBIT CARD, AUTOMATED CLEARING HOUSE FACILITY.
 Giving quality merchant bank service to the customer and maintaining
healthy portfolio.
3.3 Core operations:
Janata Bank Limited, the second largest commercial bank in Bangladesh, has an
authorized capital of Tk. 20000 Million, paid up capital of Tk5000 Million and reserve
fund of Tk.10240 Million in 2010.
The Bank has a total asset of Tk. 345234 Million as on 31st December 2010.
Immediately after the emergence of Bangladesh in 1971, the erstwhile United Bank
Limited and Union Bank Limited were nationalized and renamed as Janata Bank
Limited.
Janata Bank Limited operates through 872 (up to 2011) branches including 4 overseas
branches at United Arab Emirates. It is linked with 1198 foreign correspondents all over
the world.
The Bank employs more than 13(Thirteen) thousand persons.

The mission of the bank is to actively participate in the socio- economic development of
the nation by operating a commercially sound banking organization, providing credit to
viable borrowers, efficiently delivered and competitively priced, simultaneously
protecting depositors funds and providing a satisfactory return on equity to the
owners.
The Board of Directors is composed of 15 (fifteen) members headed by a Chairman. The

Directors are representatives from both public and private sectors.
The Bank is headed by the Managing Director (Chief Executive), who is a reputed
banker. The corporate head office is located at Dhaka with 35 (thirty five)
Divisions.
3.4 Recent performance of JBL
Major Achievement in 2010

 Shareholder equity increased to Tk.20390 million in 2010 from Tk.14925 million
in 2009.
 Classified loan reduced to Tk.-11827 million in 2010 from Tk.14037 million in
2009.
 Capital adequacy increased to Tk.23454 million in 2010 from Tk.14765 million in
2009.
 Interest margin increased to Tk.7067 million in 2010 from Tk.4490 million in
2009.
 Return on asset increased to 1.42 percent in 2010 from 0.95 percent in 2009.
 Earning per share (EPS) increased to Tk.98.16 in 2010 from Tk.73.37 in 2009.
 Foreign trade increased to Tk.302259 million in 2010 from Tk.206715
million in 2009.
 Deposit increased to Tk.286567 million in 2010 from Tk.246175 million in
2009.
 Loan and advance increased to Tk.225732 million in 2010 from Tk.166359
million in 2009.
 Operating profit increased to Tk.12036 million in 2010 from Tk.8578 million in
2009.
 Pre-tax profit increased to Tk.7820 million in 2010 from Tk.5656 million in
2009.
 After-tax profit increased to Tk.4908 million in 2010 from Tk.2804 million in 2009.
 Janata Bank Limited awarded by ICIC Bank Hong Kongfor batter performance of
US Dollar clearing.
 Janata Bank Limited contributed to the National exchange Tk.1557 million in
2010 as against Tk.830 million in 2009.
 Janata Bank Limited distributed Tk.61.29 million for Corporate Social
Responsibilities (CSR) activities in2010 as against Tk.17 million in 2009.
Recently The Bank has been recognized internationally and
domestically for its good performance.
 International Award-The Bank of the year-2011 in Bangladesh
Janata Bank Limited has been awarded „The Bank of the Year-2011 in
Bangladesh‟ by the London based Financial Magazine The Banker of the
Financial Times Group. This is for the sixth time the bank has been awarded
„The Bank of the Year‟. Janata Bank Limited achieved remarkable progress in
the year 2010.
 ICMAB Best Corporate Award-2011
Janata Bank Limited has been awarded 'ICMAB Best Corporate Award - 2011' by
the Institute of Cost and Management Accountants of Bangladesh. This Bank
secured the first position among the state owned Commercial Banks in
Bangladesh.
 International Award -"World's Best Bank Award-2009 in Bangladesh
Janata Bank Limited was awarded Best Bank-Bangladesh in the Global
Finance, World's Best Bank Awards, 2009 by New York based Financial
Magazine "Global Finance". "Global Finance" has identified winning banks
based on number of criteria including growth in Assets, Profitability, Strategic
relationships, Customer Service, Competitive pricing and innovative products.
 International Award -The Bank of the Year-2004 in Bangladesh
 Janata Bank Limited receives "Asian Banking Awards 2004" on
Financing Program for Women Entrepreneurship:
 Janata Bank Limited gets “The Banker Award-2003”
 International Award-The Bank of the Year-2002
 International Award-The Bank of the Year-2001
It may be noted here that Janata Bank Limited has been working hard in improving
the customer services in recent times by introducing a number of IT-based reform
measures
3.5 Management Hierarchy of the Bank

3.5.1 Board of Directors
The Board of Directors is composed of thirteen members headed by a Chairman and
the directors comprised of representatives from both public and private sectors and
shareholders. The Bank is headed by the Managing Director (Chief executive) who is
a reputed professional Banker
3.5.2 Organizational Structure of Janata bank limited
Chairman Managing Director

Deputy Managing Director
General Manager
Assitant General Manager
Manager
Senior Executive Officer Executive Officer Assistant Executive Officer

Support Stuff
Figure-3.1 Organizational Structure of Janata bank limited
3.6 Corporate Social Responsibilities (CSR)

As a state-owned bank, it‟s goal is not only make profit, but also to serve people
through our Corporate Social Responsibilities (CSR) .The Bank has adequate scope to
provide financial assistance to the distressed and deprived people individually and
through various organization – towards human development. The Bank pursuing CSR
activities with funds generated from profit. The Bank disbursed Tk.61.29 million in 2010
as against allocated 70 million. CSR aims at maximizing realization of human potentials
and minimizing human deprivation.
CSR activities of Janata Bank Limited of 2010 are given below:-
Corporate Social
Responsibilities
7% Poverty reduction and
7%
25% rehabilitation
Health
16%
Knowledge building
25%
20%
Disaster mitigation
Figure3.2:- CSR activities of Janata Bank Limited of 2010

Janata Bank Limited
Ltd
3.7 Information of Branches
Janata Bank Ltd. operates through 868 branches. It is linked to its foreign
correspondents all over the world. Janata Bank Ltd. Also have four overseas
branches.
Number of Branches
Branches in Bangladesh 868
Rural Branches 486
Urban Branches 382
Overseas Branches 4
Total Branches 872
Table 3.1 Number of Branches
List of Branches (Grade/Category wise)

SL Name No
01 Local Office 1
02 Corporate -1 Branches 12
03 Corporate -2 Branches 41
04 Overseas Branches 4
05 Grade - 1 Branches 204
Total 872
Table 3.2: List of Branches (Grade/Category wise)

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Janata Bank Limited
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3.8 Products of JBL
JBL offers both corporate and retail banking services with a strong focus on socio
economic development of the country. The bank typically provides short term working
capital loan and limited long term exposure. Moreover, JBL offers micro enterprise and
special credit as well as rural banking. Under corporate banking service JBL
provides trade finance, project finance, syndication etc. On the other hand, consumer
loan, deposit scheme, remittance facilities are served through retail banking. In 2010,
JBL launched its merchant banking operation to diversify its product portfolio.
Current deposit Account ,

Short term Deposit, Savings
Bank Deposit Account, Fixed
Deposit, Foreign Currency
Deposit, Monthly Saving
Schene, Monthly Profit Based
Saving Csheme,
Deposit Janata Bank Savings pension
Scheme (JBSPS), Janata Bank
Products Deposit Scheme (JBDS),
Education Deposit Scheme
(EDS), Medical Deposit Scheme
(MDS), Janata Bank Monthly
Savings Scheme
(JBMSS), Janata Bank Special
Deposit Scheme (JBSDS),
Janata Bank School Banking
Savings Karjakram
Term Loan, Trade Finance,

Import Finance, Export
Products Credit Finance, SME Financing,

Micro Credit, Agricultural &
of JBL Products Rural Credit, Consumer

Credit, Home Loan, Loan for
Merchant Banking
Speedy Remittance Western Union

Money Transfer,
E-Services Automated Clearing, Internet
Banking, ATM Banking
ATM
Debit Card Operation
Operation Salary Card
Figure 3.3: Product of Janata Bank Ltd.

Janata Bank Limited
Ltd
3.9 Function of Janata Bank Limited as a Commercial
bank
Collecting deposit , Lending

General loan , Honouring cheque ,
Creation of medium of
exchange, Discounting bills,
function Money transfer etc.
Creation of savings and

Development formation of capital, helps
export and import business,
Function of function Investment in development

sector, HR development
etc.
Janata Bank
Limited Representative Receive and payment as the
function representative of clients, selling
of share and securities,
Service Transaction of foreign

currencies, information sharing,
function Consulting and others service
functions.
Figure 3.4: Function of Janata Bank Limited
3.9.1 Other Services of Janata Bank Limited.

Beside regular banking operation, Janata Bank Limited offers specialized services to different
walks of clients/agencies throughout the country. Under the network of utility services,
customers of different govt. organizations, corporate bodies, local bodies, educational
institutions, students, etc are getting essential benefits from the Bank
continuously.
The utility services of Janata Bank Limited's are:

 Bills Collection
 Payment Made on Behalf of Government
 Services Areas
3.9.1.1 Bills Collection
 Collecting the gas bills of Titas, Bakhrabad and Jalalabad Gas Transmission
and Distribution Companies.
 Regular collection of electricity bills of Dhaka Electricity Supply Authority,
Dhaka Electricity Company, Bangladesh Power Development Board and
Rural Electrification Board.
Janata Bank Limited
 Regularly collects the telephoneLtd
bills of Telegraph and Telephone Board.
 Collects Water/Sewerage bills of Water and Sewerage Authority.
 Municipal holding tax of City Corporation/ Municipalities is collected by JBL.
3.9.1.2 Payment Made on Behalf of Government

 Payment of non- Govt. teacher‟s salaries
 Providing girl Students scholarship/stipend & Primary Student Stipend.
 Provides army pension
 Payment of widows, divorcees and destitute women allowances
 Old-age Allowances
 Food procurement Bills
3.10 Financial Highlights of JBL at a Glance

– Performance Analysis
3.10.1 Compare between Operating Profit and Net Profit of JBL from
2008 to 2010
Operating Profit and Net Profit of

Taka in Million
JBL
14000
12000
10000
8000
6000
4000
2000
0
2006 2007 2008 2009 2010
Operating Profit 4213 4963 7003 8578 12037
Net Profit 0 1681 3145 2982 4907
Year
Source: Janata Bank Annual Report -2010
Graph3.1: Compare between Operating Profit and Net Profit of JBL
The Graph-3.1 shows that, The Net Profit of JBL. up to December 2010 is
Tk.4907 Million which is higher than Tk. 2982 Million in 2009. Where, in 2006 the
net profit of JBL is zero.
So we can say that, the growth of Net Profit as compared to Operating Profit
is respectable.

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3.9.2 Compare between Non- Interest Income and Interest Income
of JBL from 2009 to 2010
Taka in Million
20000
15000
10000
5000
0
2009 2010
Non Interest Income 4722 7283
Interest Income 15401.7 17684.9
Year
Source: Janata Bank Annual Report -2010
Graph 3.2: Compare between Non- Interest Income and Interest Income of
JBL
The Graph 3.2 shows that, The Non Interest Income of JBL. up to December
2010 is Tk.7283 Million which is higher than Tk. 4722 Million in 2009. So we can
say that, the growth of Non Interest Income as compared to Interest Income is
respectable.
3.9.3 Janata Bank Ltd compare with Nationalized Commercial

Bank of Bangladesh
Taka in Million
5000
4000
3000
2000
1000
0
Janata Rupali Agrani Sonali
Bank Ltd. Bank Ltd. Bank Ltd. Bank Ltd.
Net Profit Afret 4907 600.6 3516.8 2737.6
tax
Name Of Nationalized Commercial Bank
Source: Annual Report- 2010 of the above Banks
Graph3.3: Comparing Net Profit After Tax (NPAT) with four Nationalized Commercial Bank of
Bangladesh
The Graph3.3 shows that, the Net Profit after Tax (NPAT) of JBL up to December
2010
is Tk.4907 Million which is higher than NPAT of Rupali Bank Ltd. (Tk. 600.6
Million), Agrani Bank Ltd. (Tk. 351608 Million) and Sonali Bank Ltd. (Tk.
2737.6 Million).
After analyzing the chart we can say that the financial position of Janata Bank Ltd.
is batter than other Nationalized Commercial Bank of Bangladesh.
16.00%
Percentage
14.00%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
Janata Rupali Agrani Sonali
Bank Ltd. Bank Ltd. Bank Ltd Bank Ltd.
Return on Investment 4.89% 11.22% 14.75% 9.39%
(ROI)
Retern on Assets (ROA) 1.45% 1.15% 1.33% 0.03%
Name of Bank
Graph 3.4: Comparing Return on Investment (ROI) and Return on Assets (ROA) with four
The Graph 3.4 shows that, the Return on Investment (ROI) of JBL up to December
2010 is 4.89% which is lower than the Return on Investment (ROI) of Rupali
Bank Ltd. (ROI-11.22%), Agrani Bank Ltd. (ROI-14.75%) and Sonali Bank Ltd.
(ROI-9.39%).
Where, the Return on Assets (ROA) of JBL up to December 2010 is 1.45%

which is higher than the Return on Assets (ROA) of Rupali Bank Ltd. (ROA-
1.15%), Agrani Bank Ltd. (ROA-1.33%) and Sonali Bank Ltd. (ROA-0.03%).
is batter than other Nationalized Commercial Bank of Bangladesh though ROI is
lower.
Janata Bank Limited
Earning Per Share
100
90
80
70
Taka
60
50
40
30
20
10 0
Janata Bank Rupali Bank Agroni Bank Sonali Bank
Ltd. Ltd. Ltd. Ltd.
Earning Per 98.16 48.02 64.35 30.42
Share
Name of Bank
Graph 3.5:- Comparing Earning per Share (EPS) with four Nationalized
Commercial Bank of Bangladesh
The Graph- 3.5 shows that, Earning per Share (EPS) of JBL up to December
2010 is Tk.98.16 which is higher than EPS of Rupali Bank Ltd. (Tk48.02),
Agrani Bank Ltd. (Tk. 64.35) and Sonali Bank Ltd. (Tk. 30.42).
is batter than other Nationalized Commercial Bank of Bangladesh.

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Janata Bank Limited
Chapter-04
Remittance Activities:
Study on Janata Bank
Ltd.

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Janata Bank Limited
Ltd
4.1 Introduction of the Issue
Now a day a modern banker must have to perform a number of ancillary services,
besides performing the two essential functions of accepting deposits and investing
its funds. Remittance of funds can be considered as one of the most important
ancillary service provided by a Bank. With a network of the branches spread over the
entire country banks are eminently suitable institutions for the remittance of funds
from one place to another. Bank remittance is safe, swift, inexpensive, and simple.
Bank takes the risk of theft or loss of customer‟s money in exchange of a very little
commission. Again, the reserve of foreign remittance plays a great role in national
economy. With various types of accounts maintaining in international branches and
coordinating international banks these foreign currencies are being carried sending
by non-resident Bangladeshis.
4.2 Justification of the Report

Due to market economy a huge competition exists among the nationalized, foreign and
private commercial banks and therefore the expectation of the customers growing
rapidly concerning the banking operation & how customer service can be more
attractive. Bank Remittance- the way of sending customers money from one place to
another, has becomes the most important part of customer service in recent years. On
the other hand, these ancillary services are generating a great income to the Banks.
Under the above circumstances, it has become necessary for Janata Bank Ltd. to focus
its' attention towards the improvement of various customer services and increase the
efficiency to attract and also retain the customers. That is why it is quite justified to make
an in-depth study about its operation and evaluate service provided by this bank and
scope for its improvement. Since marketing is the area of my study, Bank Remittance
seems preferred to me rather then any other banking activities to study. Thus I think, this
study will vehemently help me to go forward and improve my career path.
4.3 Bank Remittance

One of the most important aspects of the Commercial Banks is rending services to
its customers. Among different services render by a Commercial Banks to its
customer remittance facilities are very well known and popular to the customers.
The word "Remittance" means sending of money from one place to another branch
within the country. There are two types of Remittance: Inward & Outward. The
Commercial Banks Remittance facilities enable its customers to avoid risk arising out of
theft or loss in carrying cash money from one place to another or making payment to
some one in another place. Banks take the risk and ensure payment to the
beneficiary in exchange of a little bit benefit known as Exchange or Commission.

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Janata Bank Limited
Different parties in money transfer process:
Normally four types of parties are related to money transfer process:-
1. Customer [who send money]
2. Issuing Branch [This branch take money from customer and order to pay money
to other bank.]
3. Paying Branch [This branch pay money to the beneficiary]
4. Payee or Beneficiary [Who get money]
Major works of this department:
The following works are done in this department-
 Issuing & Payment of Demand Draft, Payment Order
 All related correspondence with other Branches & Banks.
 Compliance of Audit & Inspection.
 Balance of D.D.& P.O. payable & D.D.& P.O. Paid with advice.
 Payment of Incoming TT.
 Issuing, encashment of Pay Order and maintenance of record and proof sheet.
 Issuance of Local Drafts
 Issuing and encashment of BCD.
 All related correspondences.
 Issuing of Outgoing TT.
 Issuance of T.T.ICA, IBCA & IBDA .
 Inward foreign remittance collection.
 Outward foreign remittance activities.
4.4 Janata Bank Ltd.’s Remittance Activities

JBL has its branches in the major cities of the country and therefore, it serves as one of
the best mediums for remittance of funds from one place to another. This service is
available to both customers and non-customers of the bank.
JBL perform both Inward and Outward remittance activities. We can divide
remittance activities of Janata Bank Ltd. By the following way-
Remittence activites at JBL
Local
Foreign Remittance
\Inland
Remittence
Inward Remittence
Outward Remittence
Inward Remittence
Outward Remittence

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Janata Bank Limited
Ltd
4.5 Local or Inland Remittance Activities of JBL
Local or inland remittance department of JBL performs an important role to send

money from one place to another branch within the country.
We can easily understand the remittance activities in a Bank by the following
Place-2
Place-1
4.
1.
Beneficiary (Money Receiver)
Customer (Money Sender)
Go to Remittance department Pay Money
2. 3.
Issuing Branch (Taking money with bank commissions) Paying Branch (Getting order from
Order Send issuing Branch)
Figure4.1: How a bank perform its remittance activities
By this way money is sent from one branch to another branch within the country. Here
in place-1; any customer pays money with bank commission at the Issuing Branch
and Beneficiary collect money from Paying Branch at Place-2.
In this case, the Issuing Branch only sent a written document to the Paying Branch in
order to pay the money to the Beneficiary.
Money is sent from one branch to another branch within the country by following way-
Bank remittance may be categorized as-
 Demand Draft (DD)
 Mail Transfer (MT)
 Telegraphic Transfer (TT)
 Payment Order (PO)
 Traveller Cheques.

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Janata Bank Limited
Telegraphic
Transfer (TT)
Demand Draft (DD)
Inward Payment
Remittance Order (PO)
Mail Transfer (MT)
Local or Inland Remittance Activities of JBL Traveler

Cheques.
Telegraphic Transfer (TT)
Demand Draft (DD)
Out ward Payment

Remittance Order (PO)
Mail Transfer (MT)
Traveler
Cheques.
Figure- 4.2 : Local or Inland Remittance Activities of JBL
The following register books are to be maintained for remittance

concern: -
 DD. MT. TT Advice Register
 DD Payment registers Day Book
 TT Payment Register Book
 Ex-Advice Payment Register Book
Above all this service is performed by the Remittance department efficiently.
Here, I am now explaining in brief the process and activities of local remittance in JBL
and JBL Rajanigondha Super Market Branch, Dhaka as well.

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Janata Bank Limited
Ltd
4.6 Demand Draft (D.D.)
Demand Draft is an instruction payable on demand. It is negotiable instrument issued
by the branch Bank containing an order to another branch of the same Bank to pay a
certain sum of money to a certain person or order on demand. This instrument can
be purchased by a customer from a particular Bank branch for himself or for
beneficiary and can handed over to the purchaser for delivery to the beneficiary. The
payee or beneficiary will claim the proceeds of the instrument by producing the same
to the concerned paying branch. Demand Draft may be paid in cash to the payee on
proper identification or the proceeds may be credited to his account. Banks issue drafts
for a nominal commission. The commission depends upon the amount to be
transmitted. The purchaser of the draft needs not to be a customer or account holder
of the Bank. Draft can be crossed also.
Sample of Demand Draft
No. D.D. 012345 Janata Bank Ltd. Data ……/……/……

………………………….Branch
On demand pay toOr

Order the sum of ………………………………. Taka()
for value received.
Janata Bank Ltd. ……… For Janata Bank Ltd.

……………………………….. Officer Manager
Figure4.3- Sample of Demand Draft
After analyzing this sample Demand Draft we identify the following feature-
1. Serial Number (No. D.D. 012345)
2. Branch Name
3. Amount of money (Numerical)
4. Date of Time
5. Name of Beneficiary
6. Amount of money (in ward)
7. Two Officer signature (with P.A. number)
Conformity and inconformity between Cheque and Demand Draft.
Explanation Cheque Demand Draft
1. Meaning A cheque is an A draft is an order to pay
unconditional order money drawn by one office of
directing the banker to pay a bank upon another office of
a certain sum of money the same bank for a sum of
only to or to the order of a money payable
certain person. to order on demand.
2. Facility The current account and Draft is issued to anyone even
saving account holders get a to
non-account holders.

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Janata Bank Limited
Ltd
cheque facility.
3. Purpose Cheques are used to make The main purpose of a draft is
payments or to settle to transfer money from one
transactions. There is no place to another or to
certainty of payment in guarantee the certainty of
the case of cheques as they payment to the payee.
can be dishonored or payment
can be
stopped.
4. Drawer In case of cheque, the In case of draft, the drawer is
drawer the
is the customer of the bank itself.
bank.
5. Bank charges The bank may not charge The bank charges a nominal fee
for or
issuing the cheque book. commission to issue a draft.
6. Dishonour Cheques can be dishonored There is no question of
for various reasons. dishonoring of draft.
7. Stopping of In case of cheque, the In case od draft, the purchaser
payment drawer can ask the bank to of the draft can ask the bank to
stop payment of the cheque stop payment before the draft
even if is
it is delivered to the payee. delivered to the payee.
8. Popularity Cheques are very common Drafts do not enjoy much
and popular mode of popularity as compared to
payment. cheques.
9. Clearance In case of cheque, there is In case of draft, there is no
a need
need for clearance. for clearance.
10. Parties Three parties are involved in Two parties are involved in
involved cheque transaction viz., draft transaction viz., (a)
(a) Drawer, (b) Drawee, Drawer, and
and (c) (b) Payee.
Payee.
4.6.1 Issuance of Demand Draft

While issuing demand Draft, an official must be confirmed about the existence of the
Bran where the DD is to be issued or drawn as asked for by the applicant. Application
on Banks prescribed form (Remittance-226) for DD be obtained from the applicant duly
filled and signed by then. Thereafter, Applicant will be asked to deposit the amount
or DD and exchange Commission commuted correctly at the prescribed rate. On receipt of
cash voucher will be passed and scrolled by the officers. DD will be issued and recorder
to the DD issues register filling the appropriate columns. Test number (if required) is
affixed on both DD and Advice as per instruction. It is mentionable here that DD
application is treated as Credit Voucher or SBG A/C (IBT A/C) and reported to HO,
Recon, Division showing credit entry against contra Branch (paying Branch). The
minimum exchange of demand drafts or Bank
Janata Bank Limited
Drafts is Tk. 20/- (including VAT Tk. 3/-) for the amount of Tk. 1 to Tk. 20000.After that
that exchange is charged Tk. 1/-for each Tk. 1000/-, and VAT is 15% of the
commission. The voucher will be passed by the following way- [Issuing Branch]
Cash Transfer Cheque Transfer Transfer order by

Mail/Letter
Dr. : Cash A/c Dr. : Party’s A/C , Dr. : Party’s A/C

[Form- A/C- No.]
Cr. : Income A/c Cheque Cr. : Like as
; Commission on Cr. : Like as cash
Remittance Cash [Party’s app. To be
attached with vouchers]
For any amount of DD issued, a relative DD Advice and sent to paying branch
where the Advice converted into Voucher.
In an advice we find following items:

1. Name of Issuing Branch of JBL and code number.
2. Name of Drawee or Paying Branch of JBL and code number.
3. Date
4. Advice No.
5. D.D. No.
6. Beneficiary name
7. Amount of money both numeric and word.
8. Authorized signature.
This advice is done four copies. First two copies is send to the Drawee/Paying branch,
third copy is send to the Head Office (HO) with daily extract‟s and the fourth copy is
adjoining in Draft advice Book‟s as an office copy.
Draft advice Book normally printed by special ink and it have a serial number.

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Janata Bank Limited
Ltd
Janata Bank Ltd. (In Quadruplicate)
Computerized Inter Branch Transaction Credit
Advice (For Demand Draft Only)
Advice No.
Name of Inter Branch Transaction A/C Sub Head Code No. of the Sub Head of
Inter Br. Transaction A/C.
From
Originating Br. Name of the Region of Originating Br. Originating
Date Originating Br.
To
Responding Br. Name of the Region of Responding Br. Transaction Code
Responding Br. Code
D.D. No Particulars Amount
Total Taka (in wards) .
Prepared By Officer (PA No.) Officer (PA No.)
PORTION ABOVE THIS MUST BE FILLED IN BY THE ORIGINATING

BRANCH
Responding Br. Seal DEBIT ………………………----------------------RESPONDING

DATE
INTER BRANCH TRANSACTION RESPONDING
A/C. SUB HEAD AMOUNT AND BR.
CODE PARTICULARS AS ABOVE.
Prepared By Officer (PA No.) Officer (PA No.)
Quadruplicate copy to be retained by originating Branch as Office Copy. Accts. : 76

(50×4)
B.M. 5-80.
Figure-4.4: Sample of Demand Draft advice Book

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Janata Bank Limited
Ltd
The client will fill up the Demand Draft Application form.
Teller will receive the cash against the Demand Draft including the Charges & Vat as per
schedule of charges in case the party pays in cash. Teller will put the received stamp on
the DD application & prepare IDT for the entire amount. DD application and IDT to be
submitted to the Remittance Department for issuance of the DD.
For Issuance of DD against cheque or party‟s instruction, respective account will be debited after
verification of customer‟s signature by the Cash Department.
The Demand Draft shall be prepared Branch wise controlling number will be given on the
draft besides the printed numbers putting an oblique (/) in between. The amount of draft will
be protecting graphed. The description of the DD will be recorded in the DD issuing Register.
The draft number should be written on the voucher & DD Application form.
Draft should be signed jointly by the GB Head & another authorized signatory with P.A.
number.
Test is required for money transfer value of Tk.50,000.00 or over. The tested message will
be sent to the paying branch through Fax or E-Mail. Test no. should be written on the
CIBTA and on the face of the Demand Draft in Red Ink.
The CIBTA should be prepared in triplicate. Original to be sent to the drawee branch.
Second copy for the branch accounts department and the third copy should be retained by the
Remittance Department (in the CIBTA book) for ready reference.
Concern Officer must ensure that acknowledgement is obtained from the client or his authorized
representative on the counter folio and issuing register.
Figure4.5: The process of issuance of D.D.
4.6.2 Demand Drafts received for Collect

a) All the Inward Demand Drafts will be received by the Managers or Accountant
and examine by him to ensure that there is no unreasonable gap between the dates of
purchased

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receipt at branch. Cases of delay will be reported to the Head Office & a copy to the
Regional Office of the purchase office. These will be numbered with D.D.R
numbers, promptly acknowledge, entered individually in the Demand Draft received
for realization register, without passing any entries.
b)Clearing cheque and cheque on the branches will be paid or returned unpaid the
same day. Other Demand Drafts entered in the register will be presented or payment
to the drawee through the cash department.
c)On realization the proceeds together with the overdue interest, if any Demand Draft
will be credited to the purchasing offices in the Janata Bank General Account sending
Transfer Responding, Advises (TRA) and reported to Head Office on schedule. Unpaid
DDR's will be returned to the purchasing offices along with the objection Memo.
4.6.3 Why D.D. Advice is used in Drawee/ Paying Branch.

When Drawee Branch gets a D.D. advice then this branch will take it as a voucher and
the paying banker will verify the genuineness of that advice by way of verifying the
number and signature. They will also record this information in their D.D. payable
register. Then they passed following voucher-
Dr. : CIBT A/C (Drawee branch zone) Cr. : Bills Payable A/C : D.D. Payable
4.6.4 Procedure of Payment

Proceeds of Demand Draft is received by the paying bank as and when it responds
the relative advise on the receipt of DD Advises from different branches, the paying
banker will verity the genuineness of the Advice by way of verifying the number and
signature. Beside this, Drafts payable can be made without the Advice of issuing Bank
and on that time the payment is called Acceptance Payment. Before making payment
of the DD, the branch will ascertain the genuine of its issuance as well as the genuine of
the payee. Open Drafts may be paid on proper identification of the payee and crossed
Drafts can never be paid in cash over the counter.
The process of entry D.D. Payment-
If the payment is to be If the payment is to be
made after receipt of the made before receipt of the
Advice Advice
If the amount of Dr. : Bills Payable A/C , D.D. Dr. : Sundry Assets A/C. D.D.
draft is pain in Payable Paid W/A
cash
Cr. : Cash A/C Cr. : Cash A/C
If the amount of Dr. : Bills Payable A/C, D.D. Dr. : Sundry Assets A/C ,
draft is pain by Payable D.D. paid W/A
clearing House
Cr. : CIBT A/C – Local Cr. : CIBT A/C – Local
Office Office
If the amount of Dr. : Bills Payable A/C, D.D. Dr. : Sundry Assets A/C ,
draft is pain by Payable D.D. paid W/A
transfer (from
Cr. : Party‟s A/C or CIBT Cr. : Party‟s A/C or CIBT
Account)
A/C A/C
Here, we find that, sometime Drawee Branch is obliged to pay money (Taka) before
receive draft advice. In this case this money is provided from “Sundry Assets A/C, D.D.
paid W/A”.
When that type of advice will get then following voucher will be passed-
Dr. : CIBT A/C , (Issuing Zone)

Cr. : Sundry Assists A/C , D.D. Paid W/A
Taka In Million
2000
1500
1000
500
0
2009 2010
D.D. paid without advice 1399.48 1580.965
(Local)
D.D. Paid without
1567.6 616.95
advice(Foreign)
Year
*Source: Janata Bank Ltd. ; Annual Report 2010; Sundry assets; page-147
Graph 4.1: D.D. paid without advice both local and foreign from 2009 to 2010
After analyzing the Graph-4.1we find that in 2010 J BL paid 1580.965 million (Taka)
before receiving D.D. advices which is higher than 1399.48 million in 2009.
4.6.5. Duplicate DD
In some cases, it may be happened that the DD is lost and reported to the
concerned Branches. In this case, issuing Branch will communicate with the paying
Branch and will obtain confirmation regarding non-payment of the DD & Payment
Branch will exercise cautions against payment of DD including caution marking on the
respective DD advice with the words "Care Reported Lost" issuing Branch will then
issue a duplicate DD on obtaining of indemnity bond from the Applicant signed by two
persons known to the Bank s sureties. In such case, duplicate DD be marked with the
words: "DUPLICATE IN LIEU OF ORIGINAL NO "
Issuance of Duplicate Payment Order
 Duplicate pay order may be issued on receipt of written request of the

purchaser along with GD at local police station. Signature of the purchaser should
be verified from the original application.
 Issuing branch should obtain an indemnity bond on a non judicial stamp

paper or adhesive stamp for the adequate value in presence of at least two
witnesses. The Branch will thereafter write to Head Office for their approval
to issue duplicate payment order.
 The Head office on receipt of the request from the issuing branch will
immediately issue caution circular from Cash Against Documents (CAD) to all
the branches regarding loss of the pay order asking them to record stop
payment. The Head Office will thereafter issue clearance to the issuing branch
for issuing a duplicate draft in lieu of original reported lost.
 On receipt of clearance from the Head Office, the issuing branch will issue a
pay order clearly the words DUPLICTAE ISSUED INLIEU OF
ORIGINALPAYMENT ORDER-. DATED------ in bold letters on the top of
the front page of the payment order. The charges for issuance of duplicate pay
order should be realized from the client.
 A note to this effect is made on the original application on form and on the Pay
Order Issued Register.
Insurance of duplicate DD be noted against the entry of original one.

4.6.6 Cancellation of Demand Draft
In some cases, the purchaser of the bank draft may ask the issuing branch to return the
amount of DD stating its non requirement. In these cases, the issuing Branch will obtain
written application from the purchaser whose signature must be tallied with the
signature obtained earlier. An amount Tk. 25/- be recovered from the purchaser as
cancellation charges and will be Credited to the Commission A/C the purchaser will
acknowledge receipt of the proceeds writing the words received payment by
cancellation and will sign. One revenue stamp to be affixed on the revenue of the Draft.
In this case, payment is made by Debit to PBG A/C and a relative cancellation advice
is sent to the Issuing Branch.
1400000
1200000
1000000
Taka
800000
600000
400000
200000
0
2009 2010
D.D. Cancellation 456725 Year 1361711
*Source: Janata Bank Ltd. ; Annual Report 2010; Sundry assets; page-147
Graph 4.2 - Total D.D. Cancelled at JBL in 2009 and 2010
The Graph 4.2 shows that, the withdrawal of Demand Draft (D.D.) at JBL has
been increased Taka 13,61,711/- in 2010 than Taka 4,56,725/- in 2009.
Janata Bank Limited
Ltd
4.7 Payment Order (P.O.)
Bank's payment order is an instrument which contains an order for payment to the paid
to effect local payment whether on behalf of the Bank or its constituents. In the
beginning stage, PO was issued only to effect local payments of Bank own obligations.
But, at present, it is also issued to the customers whom they can purchase to deposit as
security money or earnests money. The Bank's payment orders are in the form of
receipts and issued by joint signature of two officials. It ensures payment to the payee
as the money deposited by the purchaser of PO is kept in the Bank's own A/C named
"Payment Order A/C". Payment of this instrument to be made from the branch it has
been issued. It is not transferable and, therefore, it can only be paid to: -
•The payee on identification.

•The payee's Banker, who should certify that the amount would be credited to payee's
A/C.
• A person holding the letter of authority from the payee whose signature must be
authenticated by the payee.
•The purchaser by cancellation provided the original PO is surrendered by him to the Bank.
Charges of P.O.
Amount of P.O. Commission VAT 15% on Total
Commission Taka
01-20,000 20 3 23
20,001-100,000 30 5 35
100,001-500,000 50 8 58
More than 500,000 100 15 115
No. P.O. 012345 Janata Bank Ltd. Data ……/……/……

………………………….Branch
Payto
………………………………………………………………………………………………………
.. Or Order the sum of ………………………………………………………………….
Taka()
for value received. For Janata Bank Ltd.
Officer Manager
Figure4.6- Sample of Payment Order

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Janata Bank Limited
After analyzing this sample Demand Draft we identify the following feature-
1. Serial Number (No. D.D. 012345)
2. Branch Name
3. Amount of money (Numerical)
4. Date of Time
5. Name of Beneficiary
6. Amount of money (in ward)
7. Two Officer signature (with P.A. number)
4.7.1 Issuance of Payment Orders

Against Cash:
1. The client shall fill up the Payment Order Application Form and deposit the cash over
the counter.
2. After receiving the cash Teller will put the received stamp on the application and
prepare Inter Data Transfer (IDT) (Cash suspense). IDT to be submitted to the concern
officer for issuance the pay order.
3. In case of Issuance of Payment Order against Cheque or by debiting client
account, signature of the authorized person should be verified before debiting the
account.
After issuing the payment order concern officer should do the followings:
a) Description of payment order should be recorded in the Register.
b) Payment order number (both receipt & Micro bank) should be written in
the application and the voucher.
c) Ensure that the Branch seal is given on the top of the payment order &
protect to graph and the amount is written in figure & in words.
4. Payment Order will be signed jointly by the GB Head along with another
authorized Signatory.
5. Before hand over to the customer, concern officer must ensure that
acknowledgement is obtained from the client or his authorized representative on the
counter folio and issuing Register & vouchers are sent to Accounts Department at
the end of the day.
The following entries are passed:
Debit: Party’s Account (cheque) or Cash A/C

Credit: Bills Payable Account Pay
Order.
Credit: Income Account-Commission-PO/TT/DD
Credit: Vat

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Janata Bank Limited
Payment Order Issued

Taka in Million
2600
2400
2200
2000
2009 2010
Payment Order 2152.28 2442.26
Issued
Year
*Source: Janata Bank Ltd. ; Annual Report 2010; Bills Payable; page-153
Graph 4.3- Total Payment Order Issued at JBL in 2009 and 2010
The Graph 4.3 shows that, the issuance of Payment Order (P.O) at JBL is
increased Taka 2442.26 Million in 2010 than Taka 2152.28 Million in 2009.
4.7.2 Duplicate PO
As Bank's Payment Order is not transferable, Duplicate thereof is issued to the
purchaser without obtaining letter of indemnity provided they confirm in writing that
the originals have been lost and that these will be returned to the Bank whenever
traced.
Issuance of Duplicate Payment Order
 Duplicate pay order may be issued on receipt of written request of the

purchaser along with FIR/GD at local police station. Signature of the purchaser
should be verified from the original application.
 Issuing branch should obtain an indemnity bond on a non judicial stamp
paper or adhesive stamp for the adequate value in presence of at least two
witnesses. The Branch will thereafter write to Head Office for their approval
to issue duplicate payment order.
 The Head office on receipt of the request from the issuing branch will
immediately issue caution circular from CAD to all the branches regarding loss of
the pay order asking them to record stop payment. The Head Office will thereafter
issue clearance to the issuing branch for issuing a duplicate draft in lieu of
original reported lost.
 On receipt of clearance from the Head Office, the issuing branch will issue a
pay order clearly the words DUPLICTAE ISSUED INLIEU OF
ORIGINALPAYMENT ORDER-. DATED------ in bold letters on the top of
the front page of the payment order. The charges for issuance of duplicate pay

& Technology 7
order should be realized from the client.

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Janata Bank Limited
 A note to this effect is made on the
Ltdoriginal application on form and on the
Pay Order Issued Register.
4.7.3 Cancellation of Payment Order

1 On receipt of application along with the Pay Order, signature of the applicant should
be verified from the original application. It must be ascertained that no duplicate
P.O. has been issued against the same.
2 No refund will be made to the purchaser against duplicate without proper
endorsement from the beneficiary of P.O. However, if the payment order not
submitted to the beneficiary and the payment order not utilized amount may be
refunded as per purchaser written request.
3 The following entries are passed:
Debit: Bills Payable Account – Pay Order
issued. Credit: Party’s Account.
4 The Payment Order is cancelled by tearing off signatures thereon and a note to this
effect is made on the application form and on the Register. Tee entry is to be
reversed.
5 The cancelled Payment Order should be attached with the debit voucher.
6 If the Payment Order is placed through clearing by the purchaser‟s Bank, in that
case the Collecting Bank„s endorsement must confirm that purchaser‟s account is
credited.
4.8 Mail Transfer (M.T.)

The facility of transforming money by Mail is available to customers having some sort
of an account with the Bank. The remitter deposits the amount to be transferred
with small commission with the remitting Branch. It is an Advice issued by a Branch to
another Branch for crediting the specified amount to the account of the payee
maintained with them. It is a non-negotiable instrument and generally is not handed
over to the customer rather sent through Post Office to the concerned Branch for credit
to the respective amount. In some cases, proceeds of MT. may be paid to the
beneficiary by issuing Payment Order (PO) if he maintains no account with that branch.
In such cases, Full Address of the beneficiary requires to be mentioned by the
applicant. On that time, MT itself treated Advice as well as credit voucher also of the
paying branch; no separable advice is issued by the issuing branch. On receipt of the
MT genuineness is determined by means of verification of signature and test number (if
any payment is made by debit to issuing branch through PBG A/C and reported to Head
Office for reconciliation. Remittance or money by Mail Transfer is relatively cheaper,
quite safer and convenient. Mail Transfer is affected not only for remittances within the

& Technology 8
Janata Bank Limited
country but also for international remittances.
Ltd MT for local transfer (say, within the area
of

& Technology 9
Dhaka) a special MT register book is maintained as in the case like DD. MT normally
issued from branch to branch of the same Bank. An extra document is needed for
Mail Charge.
Normally the Mail is given Tk. 25/- for the amount Tk. 50,000/- and above. Below
50,000/- there is no any Mail Charge. The commission charged for MT is given
below
Tk. 1 up to Tk. 49,000/- Tk.

15/- Tk. 50,000/- and above
Tk. 40/- Example Receipt
(MT/TT)
Date: ......................
Payees Name: ................................................................
Branch Name: ...............................................................
Amount: ................................... Exchange...................
Commission: ........................ Postal Charge: .............
Figure4.7: Example Receipt (MT/TT)
The following register books are to be maintained for remittance concern: -

 M.T. Advice Register
 M.T Payment register Day Book
 M.T Payment Register Book
 Ex-Advice Payment Register Book
M.T. Paybale
4000000
3000000
Taka
2000000
1000000
0
2009 2010
M.T. Paybale 1507414 3647007
Year
Graph 4.4 - Total M.T. payable at JBL in 2009 and 2010

The Graph 4.4 shows that, the total M.T. Payable at JBL is increased Taka 36 ,
47,007/- in 2010 than Taka 15, 07,414/- in 2009.
Process of Payment:
After receiving the MT advice it is recorded to the Inward Mail Register. Then it is
recorded in MT payable register and following voucher is passed.
Dr. : CIBT A/C (Drawer zone )

Cr. : Bills Payable A/C , MT Payable
When money transfer to beneficiary A/C-
Dr. : Bills Payable A/C , MT Payable Cr. : Party’s A/c
4.9 Telegraphic Transfer (T.T.)
Telegraphic transfers are affected by telegram, telephone, or telex as desired by the

remitter. Transfer of founds by telegraphic transfer is the most rapid and convenient but
expensive method. For this, telegraphic technologies need to be available in all the
areas. In this case, the issuing branch sends a message telegraphically to credit the
specified amount to the beneficiary through his A/C maintained with them or by
issuing TT, PO, if A/C is not maintained by the beneficiary, Telegraphy message may be
codes but must be tested. Paying branch will decode the TT being satisfied on the
contents will make payment by debit to issuing branch entering the TT into TT
Register and preparing a credit voucher for credit to the payees A/C. But, for big
amount of TT or in case of any doubt, confirmation must be obtained before
making payment.
Charges of TT are as follows:
Amount of Commission VAT 15% Telephone / Mail Total

TT on Charge Taka
Commission
01-20000 25 - - 25
50000 50 8 30 88
100000 100 15 30 145
4.9.1 Transfer against Cash
1 The client shall fill in and sign the T.T. Application Form and deposit TT
amount over the cash counter including the commission/VAT/Postage.
2 After receiving the cash Teller will prepare IDT (Cash suspense) for the
entire amount and submit to Remittance Department.
3 Remittance Department will prepare CIBT Account (Computer Inter Branch
Transaction Account) to the Drawee branch. Each CIBTA shall have outward
number. Concern officer will write the remittable amount and the name of
the beneficiary, account number and the Beneficiary‟s Bank name and branch
clearly in the CIBTA. Money transfer value of Tk.50, 000.00 or over test
number shall be applied on the top of the CIBTA in Red Ink. The IBCA
should be signed jointly by the Branch Head and other authorized signatory.
CIBTA to be sent to the drawee branch by FAX or E Mail when FAX is not
available or become out of order.
4 CIBTA should be prepared in triplicate. The original should be sent to the
drawer branch, second copy to be submitted to branch accounts department
and the third copy will be retained by the remittance department in the CIBTA
for ready reference.
5 Any subsequent corrections or alteration of the TT text must be accompanied
by “Nil” test along with the cautioning words “PLEASE AVOID
DUPLICATION/DUPLICATE PAYMENTS”.
4.9.2 Payment against Telegraphic Transfer
1 Incoming TT (CIBTA) may be received through Fax or E-Mail when Fax is not
available or become out of order. After receiving the message (CIBTA) from
the remitting branch concern officer will acknowledge receipt of the said
transfer and verify the signature. Amount for Tk.50,000.00 or above Test no.
should be provided in the CIBTA. GB Head will verify the authenticity of the
test and affix a stamp “Test Agreed”. And sign. Contents of the incoming TT
message shall be recorded in the Incoming TT Register.
T.T. Payable
80000000
Taka
70000000
60000000
50000000
2009 2010
T.T. Payable 62465871 73011561
Year
Source- Janata Bank Ltd. ; Annual Report 2010; Bills Payable; page-153
Graph 4.5 - Total T.T. payable at JBL in 2009 and 2010

The Graph 4.5 shows that, the total T.T. Payable at JBL is increased Taka
73011561/- in 2010 than Taka 62465871/- in 2009.
2 Party’s account is credited as under:
Debit: Computer Inter Branch Transaction Account (CIBTA)

-90101006 Credit:Bills Payable A/C, TT payable
Debit : Bills Payable A/C, TT payable
Credit: Customer/ Party’s A/C
Janata Bank Limited
Ltd
4.10 Financial Data Regarding Local Remittance of JBL
Rajanigandha Super Market Branch (RGSM Br.) Dhaka
4.10.1 Contribution of JBL Rajanigandha Super Market Branch

Dhaka in Inward Local Remittance earning in 2011 from various
fields of Local Remittance activities.
No. of Transaction % Amount (Tk.)
Demand Draft (DD) 1040 10% 72,832
Mail Transfer (MT) 370 3% 21,849
Telegraphic Transfer (TT) 7080 65% 473,405
Payment Order (PO) 2340 22% 160,230
Total 10830 100% 728,316
Table 4.1: JBL RGSM Branch Dhaka Inward Local Remittance earning in
2011
Amount
500000
400000
Taka
300000
200000
100000
0
DD MT TT PO
Amount 72832 21849 473405 160230
Graph 4.6 : JBL RGSM Branch Dhaka Inward Local Remittance earning in 2011
After analyzing the above Table 4.1 and Graph 4.6, we find that the highest
amount of remittance is earned from TT at RGSM Branch and then the PO,
DD and MT departments come respectively.

& Technology 3
Janata Bank Limited
4.10.2 Contribution of JBL Rajanigandha Super Market Branch Dhaka
in
Inward Local Remittance earning from 2008 to 2011
2008 2009 2010 2011
No. of Transaction 9987 11015 10096 10830
Amount (Tk.) 682,450 712,054 708,253 728,316
Table 4.2-: JBL Rajanigandha Super Market Branch Dhaka in Inward Local
Remittance earning from 2008 to 2011
Taka
9987 11015 10096 10830

2008 2009 2010 2011
No. of 9987 11015 10096 10830
Transaction
Amount 682450 712054 708253 728316
Graph 4.7 –: JBL Rajanigandha Super Market Branch Dhaka in Inward Local
Remittance earning from 2008 to 2011
The Graph 4.7 shows that, Inward local remittance through JBL Rajanigandha
Super Market Branch Dhaka. up to December 2011 is Tk.728316/- which is higher
than inward foreign remittance is Tk. 708253/- in 2010. Inward local from JBL
Rajanigandha Super Market Branch Dhaka reached record high of Tk. 712054
million in 2009 against Tk.682450 million in 2008 and continue to play an
important supporting role in
strengthening the economy of the county Janata Bank ltd.

& Technology 4
Janata Bank Limited
Ltd
4.11 Clearing House
Clearing House is an organization of banks constituted for the purpose of settling inter-
bank liabilities due to transfer of deposits by a customer of a particular Bank to that of
another Bank. Every scheduled Bank is a member of the Clearing House.
Representatives of all the scheduled banks assemble at the Clearing House on each
business day with Bank-wise list of cheques, drafts etc. received from customers and
drawn on different Banks under the jurisdiction of the Clearing House. The Clearing
House sits at the appointed hour on all working days under the
leadership/supervision of a House Super of the Central Bank or its agent as the case
may be, and works within the regulations framed thereof on the basis of prevailing
banking practices. At present the clearing house sits four times for settling
payment of cheques, drafts, bills etc.
1. 1st clearing house sits at 9.30 a.m. for delivery and receipt of the instrument from
each other.
2. Same Day Clearing House sits at 11.00 a.m. for quick settlement of payment of
the instruments of Tk.5.00 lac and above drawn on other local branches within the 5
k.m. area.
3. 1st Return House for the same day clearing sits within the transaction hours i.e. by
3.00 p.m.
4.2nd Clearing Return House sits for return of the instruments after 5.00 p.m.
At present central bank provides an Automated Clearing House to settle the daily
transactions against receipt of instruments through deposit slips for collection of funds
through the use of most modern electronic terminals/computer situated at banks
who are members, representatives or associates of the clearing systems. The net
dues receivable or payable arrived at after off-setting the total amount of the instruments
delivered, are adjusted through the respective bank‟s clearing account maintained with
the Central Bank or its agent.
4.11.1 Functions and Procedures:

On receipt of the cheques, drafts, bill of exchange etc. by the Cash Dep‟t. for
clearing purpose, the respective Teller/Cashier affix Seal/Stamp Special Crossing
immediately on the top portion of the instruments in the left hand corner on the face of
the said instrument in order to ensure the safe transmission of the money to the
Payee‟s A/c. The clearing department Affixes clearing seal/stamp with date on the face
of the instruments. Then the clearing cheques/instruments are given proper endorsement
by putting recorded signature on the back of the instruments through the authorized
officials/representatives of the bank branch.

& Technology 5
Outward clearing:

& Technology 6
Janata Bank Limited
Accounting Entries: Clients depositing cheques/instruments
Ltd of other banks for crediting the
proceeds in their Accounts i.e. called outward clearing:
Dr. : Clearing Adjustment A/c

Cr. : Respective client’s A/c (voucher deposit
slip) Cr. : Other branches by responding
CIBTA
Outward clearing cheques returned:
Dr. : Respective client’s A/c

Dr. : Other Branches through IBDA (originating)
Cr. : Head Office/Balance with Bangladesh Bank A/C (if it is on line
posting)
 Messengers of different branches bring instruments drawn on other Banks to the

clearing section of Local Office.
 Bills Section of JBL Local Office also sends the instruments drawn on other Banks to
the clearing section for collection.
 The clearing stamps are affixed on the instruments and endorsed
 The particulars of these instruments are entered in the main schedule of banks
through NIKASH22 software and inserted in floppy disc.
 The diskettes along with the instruments are carried to the clearinghouse. After
going there the concerned officials of JBL gives the instruments to the
representative of respective banks.
 Claims of JBL on other banks are set off by Bangladesh Bank through debiting
other bank‟s account and crediting JBL account.
 This function is done in the first house
Inward Clearing:
Dr. :Respective Client (voucher cheques/other instruments - for Honored Figures.)
Dr. : Other Branch CIBTA (responding)
In case of Inward clearing cheques return:
Dr. : Head Office (Balance with Bangladesh Bank A/c) (if it is on line
posting) Cr. : Clearing Adjustment A/c
 The instruments drawn on JB are received from other banks in the clearinghouse.

& Technology 6
 The amount and numbers of instruments are entered in the house from the main
schedule of respective banks.
 The instruments with schedules are arranged branch wise
 The instruments are sent to branches concerned for clearance and IBCA (inter
branch credit advice) are collected from them for honored cheque.
 The dishonored instruments are sent back to respective banks through the second house.
4.12 Transfer Delivery

Exchange the value of a cheque/draft performed by one branch to another branch of a
same bank in a particular area is called Transfer Delivery.
Handling Procedure: Transfer Delivery procedure is two types:

A. Outward Transfer Delivery
B. Inward Transfer Delivery
Flow Sequence:
4.12.1. Outward Transfer Delivery (O.T.D.)

1. Receipt of instruments along with the pay-in-slip from customer.
2. Scrutiny of instruments and the pay-in-slip.
3. Affixed Seal:
i. Transfer Delivery Seal
ii. Special Crossing Seal
iii. Endorsement seal
4. Return of Counter foil to the Customer.
5. Separation of pay-in –slip and instruments.
6. Sorting of instruments branch-wise.
7. Preparation of schedule one for each branch.
8. Enter into Transfer Delivery Register by serially.
9. Affixing Sl.No. which called Transfer Delivery No. & Transfer Delivery stamp
on Instrument & pay in slip.
10. Preparation of Transfer Delivery House and totaling thereof.
11. Balancing of transfer delivery i.e., aggregate of Transfer Delivery pay-in slip
should agree with total of Transfer Delivery House.
12. Release of pay-in-slip filing in pending file for credit to the respective accounts.
13. Delivery of transfer Delivery instruments with schedule to respective Br./T.D.
House.
4.12.2. Inward Transfer Delivery (I.T.D.)
4.12.2.1 In T.D. House:
1. Receive from various branches.
2. Verification of instruments by physical counting.
3. Sorting of branch wise. (drawn on)
4. Preparation of Lodgment voucher.
5. Delivery to drawee branches.
4.12.2.2 In Different Branches.

1. Receipt of instruments with schedule and the advice (From Local Office)
2. Counting of instrument.
3. Totaling of amounts as per instruments and the schedule separately to balance
Transfer Delivery Received.
4. A single credit voucher is prepared for crediting the amount to Local Office, It
will be the responding entry-
Dr. : Party
A/C Cr. : CIBT
5. Release
A/C of instruments to the various departments for debiting the respective
account.
6. Preparation of advice voucher against credit voucher.
4.12.3 Outward Transfer Delivery (O.T.D.) Return:

1. Receipt of unpaid instruments from the department concerned along with
reason memo.
2. Preparation of schedule.
3. Preparation of House.
4. Balancing of schedule and house by comparing their respective totals.
5. Preparation of voucher and advice.
6. Delivery to the messenger to Local Office (Instruments, Schedule)
4.12.4 Inward Transfer Delivery (I.T.D.) Return:

1. Receipt of unpaid instrument schedule and advice from local Office.
2. Counting of Instrument.
3. Jotting of amounts from the instruments and comparing the total with amount as
per advice received.
4. Responding of advice.
5. Preparation of party Debit Voucher
Dr. : Party A/C
Cr. : Local Office
(CIBTA)
6. Recover of Postal Charges if applicable.
7. Entry into cheque return Register.
8. Return of instruments with reason memo to the party.
Janata Bank Limited
Ltd
4.13 Foreign Remittances Activates in JBL
On the era of globalization and free economy, business has changed its shape and has
spread all over world. Now a day, banking business has not been limited only within the
commercial banking; it spread with different types of money and finance related
business. Investment banking, merchant banking as a brokerage house, syndicated
business, correspondent banking, foreign trade, currency dealing etc. There is no
national or geographic limitation for the business. As the Bangladeshi citizens/
nationals are migrating all over the world, created scope/ opportunity for money transfer
business as a global phenomenon. In the post 9/11 era, national and international
regulators are more vigilant against Anti Money Laundering (AML) and Anti Terrorist
Financing, resulting appreciation for fund transfer through Bank and registered
Financial Institutions.
Previously, the educated and well-off class of the remitters (Expatriate Bangladeshis) used to
send money through banking as well as illegal channels, but the uneducated and so
called under-privileged class of the remitters generally does not have access to banking
channel and used to send money through illegal channel. Due to high service charges, the
underprivileged do not maintain account with schedule banks and cannot use the money
transfer facility of the banks. This unique characteristic of the remitters creates the
scope of operation for Financial Intermediates basically Exchange House Operations.
Importance: Demand for inward remittance has immense importance, because remittance,
the portion of international migrant workers earnings sent back from the country of
employment to the country of origin, plays a central/crucial role in the economy of
our country. At the same time with micro economic development process, as
remittance often provide a significant source of foreign currency, increase national
income, finance import and contribute to the balance of payment improvement.
These wage earners' remittance helps building external sector viabilities of our country.
Inward remittance is relatively less volatile source of foreign exchange. Expatriate
Bangladeshi workers remittance contributes immensely to the economy with strong
positive impact on growth, employment and Balance of payment.
Currently, inward remittance is higher than the combined flow of foreign aid
disbursement and foreign direct investment. Though increasing, the current growth rate of
remittance is still much lower than the total flow of migrants from Bangladesh.
Remittance Systems of Janata Bank Limited: To speed up distribution of remittance

send by various foreign banks and exchange companies Speedy Foreign Remittance
Payment System has been introduced in phases since May 2009. Currently, 860
branches of our bank are on- lined with Speedy Foreign Remittance Payment System,
through which remittances from Foreign Banks/Exchange Companies are being
paid/credited to beneficiaries account on the same day. Till date, 53 Foreign
Banks/Exchange Companies sending remittance to Janata

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Janata Bank Limited
Bank under Taka Drawing Arrangement with Janata Bank Ltd. Main Feature of Foreign
Remittance Payment System stated below:
For further expedite foreign remittance payment/distribution system Instant/Spot cash

payment system also introduced by our bank. It was started with Western Union on
2009. Currently, numbers of Exchange Companies are operating their Instant/Spot cash
operation with us.
Table 4.3: Web-based Foreign Remittance Instant/Spot Cash Payment System (EFT).
There are two types of foreign Remittance Activities –
1. Inward Foreign Remittance

2. Outward Foreign Remittance.
Janata Bank Ltd. is performed both inward and outward foreign remittance activities.

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Janata Bank Limited
Ltd
4.14 Inward Foreign Remittance
In the case of in-ward foreign remittance the foreign currency is entered in Bangladesh.
Previously for transfer foreign currency the customer was must have an Account in
Bank like
- Janata Bank Ltd. But in the present time a customer can get foreign currency without
having an Account in the respective branch or any Bank like- Janata Bank Ltd.
Country wise Foreign Remittance of JBL from 2004 to 2009
Figure in Million
Country 2004 2005 2006 2007 2008 2009

JanataEchange 1182.5 2077.1 3102.1 3513 2289.8 144.8
Co., Italy
Janata Bank, 5196 5638 5666.7 9188.3 12548.8 16207.7
UAE Branches
Other Exchange 2143.5 2279.5 2901.7 4714 6878.2 8738.1
Co.
Kuwait 3468.6 4089.3 5652.6 7615.9 7780.1 6764.3
Saudi Arabia 4057.9 3762.7 3598.3 3025.2 4536 7718.2
Oman 1129.8 1095.6 1106.2 1171 1341.6 1038.7
Bahrain 785.2 817.4 853.2 834.5 916.7 716.1
Greece 0 0 537.9 697.9 591.5 524.5
UK 0 0 0 0 2213.3 6174.9
Qatar 196.1 190.8 149.2 173.6 200.6 118.9
United States 26.9 29.2 132.8 15. 222.3 285.7
Malaysia 1139.3 623.9 264.2 208.7 113.2 23.9
Singapore 0.2 0.4 5.3 0.7 20.2 98.1
Korea 0 23.2 2.5 0 0 0
Canada 166.7 0 6.6 7.2 0 0
Australia 1404 0 0 0 0 0
Other sources 4556.4 5945.7 5288 5484.4 6272.1 6334.2
(SWIFT/Telex)
Grand Total 24063.5 26572.8 29257.3 36788 45924.4 56190.1
*Source: Janata Bank Ltd. Website
Table 4.4: Country wise Foreign Remittance of JBL from 2004 to 2009

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Janata Bank Limited
Year wise JBL contribution
60000
50000
40000
30000
20000
10000
0
2004 2005 2006 2007 2008 2009 2010
Year wise JBL contribution
24063.5 26572.8 29257.3 36700 45924.4 56190.1 52640
($ million)
Graph-4.8: Contribution of JBL in Foreign Remittance earning from 2004 to 2011
The Graph-4.8 shows that, Inward foreign remittance through Janata Bank
Ltd. up to December 2010 is Tk.52640 million which is lower then inward foreign
remittance is Tk. 56,190 million in 2009. Foreign remittances from NBRs reached
record high of Tk. 45924 million in 2008 against Tk.36788 million in 2007 and
continue to play an important supporting role in strengthening the economy of
the county Janata Bank ltd.
The achievement of Janata Bank Ltd. in attracting foreign remittance as

compared to country’s performance is given below:-
Janata Bank Ltd National Percentage
2010 52,640 Million 802,270 Million 6.56%
2009 56,190 Million 738,773 Million 7.60%
2008 45924 Million 616442 Million 7.45%
2007 36788 Million 451890 Million 8.12%
*Source: Janata Bank Ltd. ; Annual Report 2010; Directors’ Report-Foreign Remittance;
page-78
Table- 4.5: National Inward Remittance of Janata Bank Limited

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Janata Bank Limited
1000000 Remittance Activities; A Study on Janata Bank Ltd
802270
800000 738773
600000 616442
400000 451890
200000 52640
56190 45924
036788
2010
2009
2008
2007
2010 2009 2008 2007

JBL Remittance 52640 56190 45924 36788
National Remittance 802270 738773 616442 451890
*Source: Janata Bank Ltd. ; Annual Report 2010; Directors’ Report-Foreign Remittance; page-78
Graph 4.9 National Inward Remittance of Janata Bank Limited
Percentage
10.00%
8.12%
7.60% 7.45%
8.00% 6.56%
6.00%
4.00%
2010 2009 2008 2007
Percentage
2.00% 6.56% 7.60% 7.45% 8.12%
0.00% Bank Ltd. ; Annual Report 2010; Directors’ Report-Foreign Remittance; page-78
*Source: Janata
Graph 4.10- National Inward Foreign Remittance of Janata Bank Limited
The above Graph 4.9 & Graph 4.10 shows that, Inward National Foreign
Remittance up to December 2010 was 802,270 Million and Inward Foreign
Remittance through Janata Bank Ltd. was 52640 Million, which was 6.56% of total
country’s remittance. In 2009, Inward National Foreign Remittance was 738773
Million where Inward Foreign Remittance through Janata Bank Ltd. was 56190
Million, which was 6.56% of total country’s remittance. In 2008 and 2007 Inward
National Foreign Remittance were 616442 Million and 451890 Million respectably
where Inward Foreign Remittance

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Janata Bank Limited
through Janata Bank Ltd. were 45924 Million and 36788 Million which was 7.45%
and
8.12% of total country’s remittance respectively.
After analyzing the above chart, we find that the achievement of JBL in
attracting foreign remittance is increased year by year except 2009 and 2010 due
to economic crises. But on the contrary, the percentage of foreign remittance
through JBL is decreased year by year as compared to country’s foreign
remittance.
Contribution to National Inward Foreign Remittance of Janata Bank Limited (3

months)
Months National earning Janata bank Percentage

(Millions U.S. $) (Millions U.S. $)
October 1039.48 71.20 6.85%
November 908.79 58.62 6.45%
December 1144.38 82.520 7.21%
Table-4.6: National Inward Foreign Remittance of Janata Bank Limited (Last 3 months of
2011)
1144.38
1200 1039.48
908.79
Million U.S. $
1000
800
600
400
71.2 58.62 82.52
200
0
October November December
National earning 1039.48 908.79 1144.38
Janata Bank Ltd. 71.2 58.62 82.52
Months
Graph 4.11- : National Inward Foreign Remittance of Janata Bank Limited (Last 3 months of 2011)

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Janata Bank Limited
7.21%
Million U.S. $
7.40%
7.20% 6.85%
7.00%
6.80% 6.45%
6.60%
6.40%
6.20%
6.00%
October November December
Percentage 6.85% 6.45% 7.21%
Months
Graph 4.12 : National Inward Foreign Remittance of Janata Bank Limited (Last 3 months of 2011)
The Graph 4.11 & Graph 4.12 show the comparison between inward foreign
remittance through Janata bank Ltd. and inward national foreign remittance of
last three months [October, November, and December] in 2011.
After analyzing the above charts and tables, we find that the achievement of JBL
in attracting foreign remittance is increased month by month in 2011. And on
the contrary, the percentage of foreign remittance through JBL is also increased
month by month as compared to country’s foreign remittance.
By reducing lead-time, has ensured quick delivery of foreign remittance, an NBR branch
has been opened to serve exclusively Non-resident Bangladeshis through Speedy
Money Remittance System with instant to the beneficiaries. Anybody willing to
remit foreign currency from any corner of the world can use wide network of the bank.
The remittance reaches to the beneficiary within 3 days without charging any
commission. Our worldwide network includes 4 branches in UAE, 2 exchange houses
in Italy and correspondent relationship with all the major Banks and all important
trade centers of the world.
Recently Janata Bank Ltd. has launched its Speedy Foreign Remittance Payment
System which enables beneficiaries to receive their money within shortest possible
time. The beneficiary also gets information of remittance through automated S.M.Sgt.‟s a
secured, easy, cost effective and speedy way of remittance for the remitter. Janata bank
Ltd. has signed an agreement with Western Union Network to facilitate wide range of
remittance of the globe. Both the organizations make it possible to receive the money
from about 300,000 locations of 200 countries instantly with prevailing mutual
mechanism and workforce.
The Foreign Remittance department of Janata Bank Ltd. is equipped with a

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number of foreign remittance facilities.

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Janata Bank Limited
Following are the types of foreign remittance facilities offered by Janata Bank Ltd. -
1. Collection of Foreign Demand Draft (F.D.D)

2. Issuance of travelers Cheques (T.C.)
3. Issuance of foreign T.T (Telegraphic Transfer)
4. Disbursement of the cash of incoming F.T.T.
5. SRC [Speedy Remittance cell]
a) SRC- to Account
b) SRC- to Instant/Spot cash.
c) SRC- TTR/ Payment Order (P.O.)
7.Janata bank Ltd. has signed an agreement with-
a) Western Union Network
b) IME Spot Cash
c) Placid Express Spot Cash
d) NBL pay out
e) Xpress money etc.
to facilitate wide range of remittance of the globe.
Following are the types of inward foreign remittance facilities offered by Janata
Bank Ltd.; Rajanigandha Super Market Branch Dhaka –

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Janata Bank Limited
Ltd
4.15 FDD [Foreign Demand Draft]
FDD means “Foreign Demand Draft”. FDD is used for both Inward and Outward foreign
remittance transfer. These types of inward FDD was issued in past when no online
transaction remained. Presently this is not popular due to its difficult procedure and
more time consuming.
In the foreign country, there are several agents who receive money on behalf of Janata
Bank Ltd. and send this money in Bangladesh (Janata Bank Ltd.) via FDD.Some
agents are-
a) BEC- Baharain Export Company.

b) Dollarco
c) Janata Export etc.
BEC- Baharain Export Company

No. F.D.D. 012345
Beneficiary S.M. Razib Al-Mahmud..
WithJANATA BANK LTD. ;Rajanigandha Super Market Branch Dhaka A/C
Taka One Lac Only.
Tk. = 100,000/-
Officer Officer
Figure4.8: This is the simple of FDD.
When this type of FDD is collected by the Janata Bank Ltd. Rajanigandha Super
Market Branch, Dhaka then banker will verify the genuineness of the Advice by way of
verifying the number and signature. If the copy of FDD is verified successfully then
the money is transferred to the customers‟ Accounts.
F.D.D. Payable
Taka
1000000
0
2009 2010
F.D.D. Payable 728779 601894
Years
Graph 4.13- - Total F.D.D. payable at JBL in 2009 and 2010

The Graph 4.13 shows that, total F.D.D. payable through Janata Bank Ltd. up
to December 2010 is Tk.601894 which is lower than F.D.D. Payable is Tk. 728779

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in 2009.

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Janata Bank Limited
Ltd
4.15 SRC [Speedy Remittance cell]
SRC means “Speedy Remittance Cell” which is now most popular transaction system
due to less time consuming. This type of transaction make with the help of internet. It‟s
also called on-line banking system.
Janata Bank Limited has a network of 872 domestic branches in Bangladesh covering
the entire country including the rural areas. Remittance services are available at all
branches and foreign remittances may be sent to any branch by the remitters favoring
their beneficiaries. Remittances are credited to the account of beneficiaries instantly or
within shortest possible time with the help of SRC “Speedy Remittance Cell”.Janata Bank
Limited has correspondent banking relationship with all major banks located in almost all
the countries/cities. Expatriate Bangladeshis may send their hard earned foreign
currencies through those banks or may contact any renowned banks nearby (where
they reside/work) to send their money to their dear one in Bangladesh.
In this case, the foreign agent or Bank‟s or Janata Bank‟s foreign branch collect
remittance and send remittance to the Head Office (H/O) of Janata Bank Ltd. 110
Motijheel C/A Dhaka-1000 via internet. They send an E-mail report with some
information.
Some Common Information are-
1. Name of Issuer or customer.

2. Name of Beneficiary.
3. Name of Branch. (Where beneficiary collect money)
4. Amount of Currency (Taka).
5. Date of Issue.
6. MTCN – Money Transfer Controlling Number.
After receiving the E-mail report from responding foreign agents the Head Office verify
this report and then send this report to the beneficiary branch of Janata Bank Ltd.
One can send money from abroad by these three ways-
1. SRC- to Account
2. SRC- to Instant/Spot cash.
3. SRC- TTR/ Payment Order (P.O.)
Janata Bank Limited
4.16.1 SRC- to Account Ltd
In this case the money is transferred directly to the beneficiary Account. So in this case
the beneficiary mast have an Account in any branch of Janata Bank Ltd.
Example:
Suppose Janata Bank Ltd. Abu Dhabi Branch send a SRC- to Account to the Janata
Bank Ltd. Head Office (H/O), 110 Motijheel C/A Dhaka-1000. The beneficiary‟s
(receiver) responding branch is Rajanigandha Super Market Branch Dhaka-1206. The
Beneficiary‟s Account No. is 100023-0 and the amount of taka is Tk. 100,000/-.
When the H/O receives this E-mail report from Abu Dhabi Branch then H/O verify this
report and send this report to the beneficiary branch (Rajanigandha Super Market
Branch) of Janata Bank Ltd.
Remittance officer of Rajanigandha Super Market Branch will receive that report from
H/O and transfer the amount of money to the beneficiary Account. Then the beneficiary
withdraws this money by cheque.
In this case following voucher will be passed by responding branch:
Debit : CIBT A/C
Credit : Party’s
A/C
4.16.2 SRC- to Instant/Spot cash.

In this case the beneficiary can get money without having an Account in Janata Bank
Ltd. Janata Bank‟s foreign agent collect money from customer and send an E-mail
massage with a (MTCN) Money Transfer Controlling Number.
After receiving the E-mail massage from responding foreign agents the Head Office
verifies this report and then send this report to the beneficiary branch of Janata
Bank Ltd.
Example:
Suppose Janata Bank Ltd. Dubai Branch send an SRC- to Instant/Spot cash to the
Janata Bank Ltd. Hade Office (H/O), 110 Motijheel C/A Dhaka-1000. The beneficiary‟s
(receiver) responding branch is Rajanigandha Super Market Branch (RGSM) Dhaka-
1206. The

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Beneficiary‟s name is S.M. Razib and the amount of taka is Tk. 100,000/- and
Money Transfer Control Number (MTCN) is 120152000002.
When the H/O receives this E-mail massage from Dubai Branch then H/O verifies this
report and sends this report to the beneficiary branch (Rajanigandha Super Market Branch)
of Janata Bank Ltd.
Rajanigandha Super Market Branch‟s officer receives the massage with a MTCN. The
officer will print the massage and wait for beneficiary.
When the beneficiary comes to the bank then he/she will ask to the officer he has an
SRC- to Instant/Spot cash.
Then the officer of RGSM Branch will provide a form to fill-up. In this form the
beneficiary will provide following information-
a. Name of Issuer or customer.

b. Name of Beneficiary.
c. Name of Branch. (Where beneficiary collect money)
d. Amount of Currency (Taka).
e. MTCN – Money Transfer Control Number.
f. Address of Beneficiary.
g. Photocopy of National I.D. card or Passport.
Then the officer of RGSM branch will verify this information with H/O massage. If
all the information is correct, the officer will give cash memo and the beneficiary will
collect money from the cash counter.
In this case following voucher will be passed by responding branch
Debit : CIBT A/C

Credit : Sundry Deposit (S/D) A/C , Sundry
creditors Debit : Sundry Deposit (S/D) A/C ,
Sundry creditors Credit: Suspense A/C ,
Instant Cash.
4.16.3 SRC- TTR/ Payment Order (P.O.)

SRC- TTR/ Payment Order (P.O.) is a special type of Speedy Remittance Cell where
the money is sent from foreign branch of JBL to the Head Office (H/O) of Janata
Bank Ltd. Dhaka for payment to other Bank customer‟s A/C.
Example:
Suppose Mr. S.M. Razib lives in Dubai. He wants to send money to his father by Janata
Bank Dubai Branch. But the problem is that his father has no Account in Janata Bank
Ltd. But his father has an Account in ABC Bank Ltd.
In this case the JBL Dubai Branch receives the money and sends SRC- TTR/
Payment Order (P.O.) massage to Janata Bank Ltd. Head Office (H/O), 110
Motijheel C/A Dhaka- 1000 to provide money on account of “Mrs. Habib & Sons”
A/C No.- 2000010-1 at ABC Bank Ltd. Rajanigandha Super Market Branch.
When the H/O receives this E-mail massage from Dubai Branch then H/O verifies
this massage and the H/O may send this massage to the nearest branch of ABC
Bank‟s Ltd. Rajanigandha Super Market Branch. Suppose the nearest branch of ABC
Bank Ltd is Janata Bank Ltd. Rajanigandha Super Market Branch.
When the H/O of JBL sends the SRC massage to the Janata Bank Ltd. Rajanigandha
Super Market Branch then the officer of RGSM Branch will receive the massage and
issue a Payment Order against the ABC Bank Ltd. Rajanigandha Super Market
Branch with the beneficiary‟s Account Name and A/C number.
Then Janata Bank Ltd. Rajanigandha Super Market Branch will send the Payment Order
(P.O.) to the ABC Bank Ltd. Rajanigandha Super Market Branch and ABC RGSM
Branch will collect money via Clearing House and then transfer the money to the
beneficiary Account.
In this case following voucher will be passed by Janata Bank Ltd. Rajanigandha
Super Market Branch-
Debit : CIBTA
Credit: Bills Payable A/C, Payment Order (P.O.)
issue.
4.16.3: Janata Bank Ltd Collect and provide foreign remittance

on be half other Money Transfer Company
Janata bank Ltd. has signed an agreement with-
a)Western Union Network
b)IME Spot Cash
c)Placid Express Spot Cash
d)NBL pays out
e)Xpress money etc.
to facilitate wide range of remittance of the globe.
This is like as SRC- to Instant/Spot cash but in this case Head office of Janata Bank
Ltd. does not provide any massage to the branches. The responding company provides a
software and pass-ward which is operated by the officers of the branches via
internet. In every transection Janata Bank Ltd. find some commission from the
above company.
Western Union is one of the most popular money transfer network in the world. About
40% transection of foreign remittance is done by Western Union.
So for better understand of this process here I explain about Western Union-
Restrictions and Special Notes

Sending from Bangladesh:
 Send remittances are not allowed from Bangladesh.
Receiving in Bangladesh:
 Receivers must present a valid acceptable form of ID to collect all remittances.
 Receiver must present correct Money Transfer Control Number (MTCN).
General Information:
 All locations are closed on Friday.
 Money Transfer payments are reserved for private consumer use only and
cannot be paid for commercial or business purposes.
How to Pick Up a Money Transfer
It is easy to receive money in person, just go to any of worldwide Agent locations .One
can find an Agent location in a variety of places, like Janata Bank Ltd.
Rajanigandha Super Market Branch, other banks, travel agencies, post offices,
airports, and currency exchange offices etc.
STEP 1: Visit an Agent location

Provide the Agent with the following information:
The Money Transfer Control Number (MTCN) from Sender's receipt is required.
 Sender's first and last names.
 City and country the money was sent from.
 The amount that was sent.
 Beneficiary‟s first and last names, address, and telephone number.
STEP 2: Identify
Simply give the Agent beneficiary‟s identification card (Like National I.D. Card or Passport)
STEP 3: Sign the Receipt
Review and sign the receipt that the Agent gives.
STEP 4: Receive the Money
If all the information is correct the Agent will give cash memo and the beneficiary
will collect money from the cash counter.
By this way one customer can collect foreign remittance from any agents of Western
Union. Other companies also transfer money by the same way with the help of their
agents via internet within a short time.
4.17 Financial Data Regarding Inward Foreign

Remittance of JBL Rajanigandha Super Market
Branch
(RGSM Br.)Dhaka
Contribution of JBL Rajanigandha Super Market Branch Dhaka

in Inward Foreign Remittance earning from 2008 to 2011
2008 2009 2010 2011

No. of Transaction 1961 2096 2490 2691
Amount (Tk.) 996,650 10,25,250 11,56,960 13,18,510
Table-4.7JBL Rajanigandha Super Market Branch Dhaka in Inward Foreign Remittance
earning from 2008 to 2011
Inward Foreign Remittance

1500000
Taka
1000000
500000
0
2008 2009 2010 2011
No. of Transaction Amount
1961 2096 2490 2691
996650 1025250 1156960 1318510
Year
Graph –4.14: JBL Rajanigandha Super Market Branch Dhaka in Inward Foreign Remittance earning
from 2008 to 2011
The Graph-4.14 shows that, Inward foreign remittance through Janata Bank
Ltd. RGSM Branch up to December 2011 is Tk.1318510 which is lower then inward
foreign remittance is Tk. 1156960 in 2010. Foreign remittances from JBL
RGSM Branch reached record high of Tk. 10252520 in 2009 against Tk.996650 in
2008 and continue to play an important supporting role in strengthening the
economy of the county J anata Bank ltd.
Contribution of JBL Rajanigandha Super Market Branch Dhaka
in Inward Foreign Remittance earning in 2011
Activities Percentage Taka
(%)
SRC [Speedy SRC- Account 18% 237,332
Remittance cell] of SRC- to Instant/Spot 23% 303,257
JBL cash.
SRC- TTR/ Payment Order 03% 39,555
(P.O.)
Western Union Network 40% 527,404
From Other IME Spot Cash 07% 92,296
company Placid Express Spot Cash 05% 65,926
(JBL as an NBL pay out 1.5% 19,778
Agent) Xpress money etc. 2.5% 32,962
Total 100% 13,18,510
Table-4.8: JBL Rajanigandha Super Market Branch Dhaka in Inward Foreign Remittance
earning in 2011
Inward Foreign Remittance earning

600000
500000
400000
Taka
300000
200000
100000
0
Placid
SRC-SrC-toARC- Western NBL payXpress
IME Spot
Express Spot Cash
Account Instant/S TTR/Pay Union Network outmoney
Cash65926
pot cashment etc.
Taka 23733230325739555527404 92296 19778 32962
Graph –4.15: JBL Rajanigandha Super Market Branch Dhaka in Inward Local Remittance
earning in 2011.
The Table-4.8 & Graph 4.15 show that , The inward foreign remittances come
to RGSM Branch of JBL from Western Union Network that is 40% and from the
system of SRC (to instant spot cash) is in the second position in this regard which
is 23%. Then the others come chronologically.
Janata Bank Limited
Ltd
4.18 Outward Foreign Remittance
When remittance is sending from Bangladesh to abroad like London then it is called
Outward Foreign Remittance. But Outward Foreign Remittance is highly restricted by
the Bangladesh Government. Only some especial branch of all Banks can send money
from Bangladesh to abroad under Bangladesh Bank‟s rules& regulation.
In Janata Bank Ltd. following branches are only responsible and involved with
outward foreign remittance activities.
a) Local Office Dhaka.
b) Foreign Exchange Branch, Bitul-Mukaram Dhaka.
c) JanataBovon Corporate Dhaka.
The Foreign Remittance department of Janata Bank Ltd. is equipped with a

number of foreign remittance facilities. Following are the types of outward foreign
remittance facilities offered by Janata Bank Ltd. -
1.Issuance of Foreign Demand Draft (F.D.D)
2.Issuance of travelers Cheques (T.C.)
3.Issuance of foreign T.T (Telegraphic Transfer)
4.Disbursement of the cash of incoming F.T.T.
But Janata Bank Ltd. Rajanigandha Super Market Branch is not involved with these
types of activities.

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Janata Bank Limited
Chapter-05
Finding & Recommendation

& Technology 6
Janata Bank Limited
Ltd
5.1 SWOT Analysis of JBL
At the corporate level, the strategic Management process of an organization involves
the environmental. This environmental scanning is done both on the internal
environment: Strength and weaknesses and external environment: opportunities and
threats of the organization.
In internal environment strengths are those factor that influence the organization to do
better are weaknesses are those factors that lack the organization form its optimum
performance. On the other hand external environment at analysis shows the
opportunities or scope of development and external coming there at for the
business.
After doing my report on the service of the JBL. I have found both better
performance in some sectors of the bank and also weak services as well that occur
lacking to do better. There are also some eternal factors which height has business.
A particular SWOT analysis discloses the following issues for an organization that
an organization achieved over the time of its operation by analyzing its both
internal and external environment: The SWOT analysis of Janata Bank Ltd. is
shown below:
 “S”- Strengths
 “W”-Weakness
 “O”-Opportunities
 “T”-Threats
Objective of SWOT analysis:

 To asses overall strong competitive position.
 To decide whether to continue current strategy or not.
 To determine possible course of actions.
 Development of functional strategy.
Strengths:
Janata Bank is a modern public Bank. It has more capacity to adopt new technology
when the environment will be changed. This JBL Rajanigondha Super Market Branch,
Dhaka as well as Janata Bank Ltd. has various types of strength elements. Such
kind of strength are representing below:
 Second Largest bank of the country.
 Wide network of 861 Branches across the countries.
 Holds a sound reputation in the banking industries.
 Sponsoring by the government.
 Personalized services.
 Sending money through Janata Bank Ltd is an easy and inexpensive process
 Well connected distribution channel from Head Office to all branches.
 Healthy correspondent relationships with foreign banks.

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 Provide a record business in international trade and remittance.
 Majority of the branches run with computers under centralized network.

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Janata Bank Limited
 Sound and large capital base. Ltd
 Sustainable growth.
 Support employees commitment to short and long term goals
 Employees are helped to productive.
 There is a helpful climate to help employees grows and accomplish in the
interests of the organization the things of which they are capable.
 The manager also helps their employees to solve their problems and accomplish
their work.
 They treat their employees as a essential part of the organization and the
psychological result is a feeling of participation and the task involvement in
the organization
Weakness:
A weakness is a limitation or deficiency in resources, Skills and capabilities that
seriously impedes effective performance.
When I study in JBL Rajanigondha Super Market Branch, Dhaka some pro blem surface
to me those internal problems mention in the below:
 Discouraging small entrepreneurs
JBL provides clean Import Loan to most of its solvent clients. But they usually do
not want to finance small entrepreneurs whose financial standing is not clean to
them.
 Absence of strong marketing activities
JBL currently don't have any strong marketing activities through mass media
e.g. Television. TV ads play vital role in awareness building. JBL has no such
TV ad campaign. Although they do a lot of CSR activities compared to other
banks.
 Not enough innovative products
In order to be more competitive in the market, JBL should come up with more
new attractive and innovative products. This is one of the weaknesses that JBL
is currently passing through but plans to get rid of by 2010.
 Lack of Proper Motivation
The salary at JBL is very decent, but it lacks other sorts of motivation. Incentives
such as bonuses are given for acquiring a particular figure, but all in all these
are the only motivational factors.
 Outdated Software and Hardware at JBL Rajanigondha Super Market Branch.
Some of the PCs in this branch have very outdated hardware which is very slow
and affects the customers and hence the performance of the bank as a whole. The
software themselves are pretty old – Flexcube is from 2003, Microsoft Office
XP is used. All of these prevent smooth operations.

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Opportunity:
In my study on JBL Rajanigondha Super Market Branch, Dhaka some opportunity
surface to me. Those opportunities of Janata Bank are given below:
 Distinct operating procedures
Repayment capacity as assessed by JBL of individual client helps to decide how much
one can borrow. As the whole lending process is based on a client's repayment
capacity, the recovery rate of JBL is close to 100%. This provides JBL financial
stability & gears up JBL to be remaining in the business for the long run.
 Country wide network
The ultimate goal of JBL is to expand its operations to whole Bangladesh. Nurturing this
type of vision & mission & to act as required, will not only increase JBL's
profitability but also will secure its existence in the log run.
 Experienced Managers
One of the key opportunities for JBL is its efficient managers. JBL has employed
experienced managers to facilitate its operation. These managers have already triggered
the business for JBL as being new in the market.
 Huge Population
Bangladesh is a developing country to satisfy the needs of the huge population, a large
amount of investment is required. On the other hand, building EPZ areas and some
Govt. policies easing foreign investment in our country made it attractive to the foreigners
to invest in our country. So, JBL has a large opportunity here.
 BASEL II
Implementation of BASEL II would definitely provide benefits. But it requires a lot
of monitoring. For this JBL has formed BIU (BASELL II Implementation Unit). BASEL
II is basically a framework set forth by Bangladesh Bank to reduce credit risk,
operational risk and market risk. This would definitely aid JBL if it is stringently
followed
Threats:
 Rapid advance in computers and management information system.
 Lack of E-Banking facilities.
 Top management of giant.
 Complex organizations cannot be authoritarian in the traditional sense and
be effective.
From the above discuss we can say that Janata Bank Limited is one of the largest
privatized Bank of the country. Overall Performance of Janata Bank Limited is
satisfactory. But to face challenges of Globalization, Janata Bank Ltd. should to
restructure its operation to improve as a first generation bank.
Janata Bank Limited
Ltd
5.2 Findings
During my practical study at JBL, Rajanigondha Super Market Branch, Dhaka I
have got some problems that hamper in making element to the banks operations and
the way of profit making of the branch as well.
I however took the help of following techniques to do this…

 Personal observation and
 Interview
Thus the following problems are identified-
1) Process of money transfer:

Sending money through Janata Bank Ltd. is a complex process.
2) Lack of E-Banking facilities:
Most of the Branches of Janata Bank Ltd. has very outdated internet modem
which is very slow. The maximum speed of these modems is 3Kb/s and
sometime connection or network is disconnected. All of these prevent smooth
operations of E-Banking as well as remittance activities.
3) Absence of modern technologies:
Less involvement of technology and lot of entries of a single transaction in
various register books make tasks time-consuming. Some of the PCs in this
branch have very outdated hardware which is very slow and affects the
customers and hence the performance of the bank as a whole. The software
themselves are pretty old – Flex cube is from 2003, Microsoft Office XP is
used. All of these prevent smooth operations.
4) Lack of knowledge of employees and staffs about modern technology:
Most of the employees in Janata Bank Ltd. Rajanigondha Super Market
Branch, Dhaka has not enough knowledge about modern technology such as-
process of check and print SRC report from head office, Western Union Network
activities etc.
5) Lack of integrity and shortage:
Lack of integrity and shortage of employees are the main concerns in achieving
the target profit from Remittance.
6) Lack of Concentrating on the channeling of remittances:
However, Janata Bank Ltd. plays a great role in sending money to various rural
areas through its countrywide network but concentration on the channeling of
remittances activities is not enough.
7) Position in International Banking: A strong position in international Banking and
a great link with various foreign exchange companies makes the process of
collecting the foreign remittance easier to this bank.
8) Contribution of JBL in Foreign Remittance earning:
The achievement of JBL in attracting foreign remittance is increased year by
year except 2009 and 2010 due to economic crises. But on the contrary, the

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percentage of

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Janata Bank Limited
foreign remittance through JBL is decreased
Ltd year by year as compared to country‟s
foreign remittance.
9) Absence of strong marketing activities
JBL currently don't have any strong marketing activities about remittance
facilities through mass media e.g. Television. TV ads play vital role in
awareness building. JBL has no such TV ad campaign. Although they do a lot of
CSR activities compared to other banks.
10) Absence of strong Customer relationship :
Proper customer relationship activities are not enough in Janata Bank Ltd.
as compared to other privet commercial banks.
11) Not enough innovative products :
In order to be more competitive in the market, JBL should come up with more
new attractive and innovative products about remittance.
5.3 Recommendations
To make solve the abovementioned problems the following recommendations can

be made so that the problems can be solved………
1. Process of money transfer:

Remittance collection from the Bank should be a much easier and hassle free
job for the beneficiaries. Process flow should be smoother so that the waiting
time for them is decreased.
2. E-Banking facilities:
Janata Bank Ltd. should be used high speed internet modem for smooth
operations of E-Banking as well as remittance activities.
3. Adaptation of new technologies:
4. All of the PCs in this branch should be changed with update hardware and
software which is very fast.
5. Training to the employees:
6. A very strong and systematic training program creates the bankers efficient; the
disciplined environment makes them active.
7. Removing integrity and shortage:
The Gap between Head office and branches will have to be removed in
order to improve the situation. Reinforcement should be involved with the given
target.

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8. Concentrating on the channeling of remittances
Janata Bank Ltd. is now concentrating on the channeling of remittances. This
should be continued and enhanced. The vast network of JBL enables them to
reach the remote rural areas. Utilizing the micro finance systems and
keeping poverty alleviation in mind, the process can be taken further.
9. Position in International Banking
The highest volume of remittances is sent from Saudi Arabia. Effort should be
thus given to ensure the utilization of the remittance coming from that region
and hence can be customized according to the regions specialty or
characteristic traits of the remitters.
10. Contribution of JBL in Foreign Remittance earning:
To increase the percentage of foreign remittance earning JBL should be provided
the best E-Banking facility than other bank. For this reason JBL should try to
establish On-line banking system. Because most of the Inward foreign
remittance is enter in Bangladesh via On-line.
11. Strong marketing activities:
Better marketing policy should be applied in order to attain and retain more
customers in this competitive market.
12. Customer relationship:
Janata Bank is still conducting remittance business because of price sensitive market,
but without a proper customer relation it would be difficult to survive in the long
run.
13. Creating innovative products:
Janata Bank Ltd. can create special accounts cate gorizing to the different
classifications of the beneficiaries, requirements according to the family size,
and utilization arena.
14. Others:
Janata Bank Ltd. can also take following steps -
 Reduction of transaction time
 Reduction of transaction costs (by cutting commission fees)
 Making remittances tax-free
 Simplifying formalities
 Regular monitoring to ensure service
 Maintaining where possible the same exchange rate as the informal
market
Janata Bank Limited
Ltd
Conclusion
In modern Banking, Remittance of Funds is one of the most important ancillary services
performed by every type of Banks. A nationalized commercial bank like Janata Bank Ltd
can perform it with better than other banks because of a wider network of branches
and lower service charge. Again, a strong position in international Banking and a great
link with various foreign exchange companies makes the process of collecting the foreign
remittance easier to this bank. Besides these advantages, a lot of lacking like-
shortage of manpower, Gap between officers of Head office & Branches, etc becomes
a matter of concern. Remittance- the subject of my study is a very small part of Janata
Bank Ltd.‟s. Activity, but it generates a portion of profit. So, by removing or at least
reducing the bank should try to achieve the targeted amount fixed by the top
management.

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Janata Bank Limited
Ltd
Reference
 Annual Report of Janata Bank Ltd. 2010

 Annual Report of Rupali Bank Ltd. 2010
 Annual Report of Rupali Bank Ltd. 2010
 Annual Report of Agrani Bank Ltd. 2010
 Annual Report of Sonali Bank Ltd. 2010
 Janata Bank Ltd. General Banking Manual (1992)
 Janata Bank Limited website: www.janatabank-bd.com
 Circulars issued by JBL time to time
 Different ledger books of the branch.
 Money and Banking: Md. Abdul Hamid.
 Md. Mahi, 1985, Cash Credit, Janata Bank
 http://theguardianbd.com/history.html
Janata Bank Limited
Ltd
Appendix 1
Source- Janata Bank Ltd. Annual Report 2010 , Page- 35

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Appendix 2
Five years Comparative Financial and Operational performance
Particulars 2006 2007 2008 2009 2010
Authorized Capital 8000 8000 8000 20000 20000
Paid up Capital 2595 2595 2595 5000 5000
Reserve Fund 1727 3224 4183 8207 10224
Deposits 182947 198636 221336 246175 286567
Advance 138493 121200 144678 166359 225732
Investment 24785 55862 57824 72533 57514
Revenue 16272 18522 20922 24074 30614
Cost 12059 13559 13919 15496 18577
Operating Profit 4213 4963 7003 8578 12037
Provisions for 10707 11698 9051 8748 8975

Loan/Assets
Net Profit --- 1681 3145 2982 4907
Export 70897 71855 85418 88653 118515
Import 128809 84065 129413 118525 183744
Total Number of 14772 13860 13379 13122 12826

Employees
No.of foreign 1198 1198 1202 1208 1215

Correspondent
No. of Branches 848 848 849 851 872
(including 4 Overseas
Br.)
Source- Janata Bank Ltd. Annual Report 2010, Page- 36

Appendix 3
Balance Sheet As At 31 December, 2010

Appendix 4
Profit And Loss Account

For the year ended 31December, 2010

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Janata Bank Limited

Remittance Activities; A Study on Janata Bank

Chapter-2 2.1 History of Banking 13

3.1 History of the Bank 19

4.1 Introduction of the Issue 32

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Chapter-05 5.1 SWOT Analysis of JBL 77

Chapter -06 Conclusion 83

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In the age of globalization, the importance of banking sector is beyond description.

1.3 Objectives of the report

1.3.1 Broad Objective:

1.3.2 Specific Objective:

 To describe different activities in the Remittance section of Janata Bank,

 To find out the problems in those activities

 To suggest some recommendations to the problems

1.4 Scope of the report

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1.5 Limitations of the Study:

Limitation of the Scope: Much confidential information was not disclosed by

1.6 Analysis techniques

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1.8 Methodology of the Study

1.8.1 Study Design

1.8.2 Sources of data

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DESIGNING THE LAYOUT

PRIMARY SOURCES SECONDARY SOURCES

PREPARING THE REPORT

Figure -1.1: Flow Chart of the Study

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2.2 History of Private Banks in Bangladesh

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Ahsanullah University of Science 1

•Rationalization of prudential norms for loan classification and provisioning,

2.3 Current Structure of Banks in Bangladesh

2.3.1 Central Bank

Pursuant to Bangladesh Bank Order, 1972 the Government of Bangladesh reorganized

2.3.2 State-owned Commercial Banks

The banking system of Bangladesh is dominated by the 4 Nationalized Commercial

Nationalized Commercial Bank of Bangladesh:

2.3.4 Specialized Development Banks

2.3.5 Foreign Commercial Banks

2.4 Bangladesh Economy 2010-11

Profile of Janata Bank Ltd. at a

3.2 Vision, Values, Mission & Objective of JBL

3.3 Core operations:

The Bank employs more than 13(Thirteen) thousand persons.

The Board of Directors is composed of 15 (fifteen) members headed by a Chairman. The

3.4 Recent performance of JBL

Major Achievement in 2010

3.5 Management Hierarchy of the Bank

Chairman Managing Director

Assitant General Manager

Senior Executive Officer Executive Officer Assistant Executive Officer

Figure-3.1 Organizational Structure of Janata bank limited

3.6 Corporate Social Responsibilities (CSR)