The main principle of this report is to analysis Banking Efficiency of EXIM BANK Limited. Report also familiar with Banking environment, clients, working hours, values, conditions and other things related to Bank. Other objectives are analyze the financing system of the Bank and to have greater contribution towards country’s economy and determine the factors that influences the choice of a Bank by the customers. Finally identify the problems faced by the customers and the Bankers.
OBJECTIVE OF THE REPORT
The main objective of practical orientation is to get a clear-cut idea about Bank, how it runs and what functions it does i.e. to be acquainted with practical everyday functions of Banking Business. Along with the main objective other objectives of Report are —
- To apply theoretical knowledge with practical situation.
- To understand the real management situation and to gather practical knowledge.
- To familiar with Banking environment, clients, working hours, values, conditions And other things related to Bank.
- To analyze the financing system of the Bank and to have greater contribution towards country’s economy.
- To determine the factors that influences the choice of a Bank by the customers.
- To identify the problems faced by the customers and the Bankers.
- To examine the profitability and productivity of the Bank.
- To acquire knowledge about the everyday Banking operation of EXIM Bank.
OVERVIEW OF THE EXIM BANK
EX1M Bank Ltd is the name implies a newly formed commercial Bank but is the 1st” of its kind in Bangladesh. It has been incorporated in Dhaka, EX1M Bank as a public limited company and its Head Office of the Bank is located at Printers Buildings, 5, Rajuk Avenue, Motijheel Commercial Area, Dhaka-1000.
In the world of consumerism the business organization of the world strive for the consumers satisfaction as a number one business strategy whatever may be the product of the organization, either service or non service. Service is the product of Bank. There is a saying that customer service starts rights right from the stairs of the Bank building. The guard at the door is first person represents of the Bank, receives a customer with wishes in smiling face.
HISTORICAL BACKGROUND OF THE EXIM BANK
EXIM Bank Ltd. was incorporated under the Companies Act 1994, on the 2nd June 1999. EXIM Bank Ltd. believes in togetherness with its customers, in its march on the road to growth and progress with service. As a commercial Bank we will do all traditional Banking, business including introduction of a wide rang of savings and credit products, retail Banking and ancillary services with the support of modem technology and professional skills.
The Export Import Bank of Bangladesh Ltd. commenced formal commercial Banking operatic from 3rd August 1999 with the permission of Bangladesh Bank. The sponsors of the Bank are leading business personalities and reputed industrialists.
The Bank has a sound capital base; its Authorized Capital is Tk. 1000.00 Million while its Initial Paid up Capital is Tk. 225.00 Million subscribed by the sponsors. To solidify its capital by further the paid up capital will rise to Tk. 450.00 Million within a reasonable period by pub offering of shares of the Company. The Bank will be immensely benefited further more from the able leadership of the Chairman and the valuable advice and guidance the advisor.
Considering the inherent desire of the religious Muslims of Bangladesh, EXIM Bank Ltd. has been decided to convert the entire conventional system of the Bank into Islami Banking with effect from 1st July 2004.
Originally the name of the Bank was BEXIM Bank of Bangladesh Ltd. Later the management BEXIM Bank of Bangladesh Ltd. changes the name of the Bank to EXIM Bank Ltd. because the case lodged by BEXIMCO Group of Industries.
The Board of Directors wants to carry out in the management all of this service industry’s administration and credit portfolio independent without any undue influence from out side. The board will formulate policy and give policy directives to the Management Transparency and accountability will be strictly ensured at all levels of the Bank. The Bank will operate with integrity, competence and farsightedness abiding by all principles And provisions laid down the Bank Company Act, 1991, the guidelines of Bangladesh Bank.
OBJECTIVE OF THE EXIM BANK.
Bangladesh is now an integral part of global market. As such there is an urgent requirement for Bangladesh to place the traditional Banking practices in harness with the global trades of a free market economy by following international Banking customs, practices and standards. Today clients of a Bank in Bangladesh are exposed as well as international markets. They have to stay update with their practice and standards to meet the demands of achieving harmony in the high standards of a free economy. Hence, by getting into both corporate and retail Banking and rapid innovation and networking the Bank believes that it can accomplish its goals.
EXIM Bank fully appreciates the importance and implication of the rapidly emerging competition in the Banking and finance sector of Bangladesh. It intends financing its customer Suited to his or her place in the market. In this regards EX1M Bank emphasizes in its employment the software aspects of human resource capability. It also emphasizes competence among its Banking professional to cater to varied customer requirements to the modem time.
The core objectives are:-
- To carry on, Transact, undertake and conduct the business of Banking in all its branches and to transact and do all matters and things incidental there to in Bangladesh and abroad.
- To receive, borrow or raise money on deposits, loan or otherwise, upon such terms as the Company may approve and to hive guarantees and indemnities in respect of all debts and contracts.
- To establish welfare oriented Banking systems.
- To play a vital role in human development and employment generation.
- To invest money in such manner as may from time to time be thought proper.
- To carry on the business of buying and selling bullion, gold and other valuable assets
STRATEGIES OF THE EXIM BANK
The business of Banking consists of borrowing and lending. As in other businesses, operation must be based on capital, but Banks employ comparatively little of their own capital in relation to the total volume of their transactions. The purpose of capital and reserve accounts is primarily providing an ultimate cover against losses on loans and investments.
- Final strategy :
Introduction of online Banking services, ATM cards, etc. is something that the Bank looks forward to introducing as soon as possible because of the current demand in the market place. Hence rapid innovation is definitely a key strategy of this Bank.
MISSION VISION & PHILOSOPHY OF THE EXIM BANK
Every financial institution want earn at least a reasonable profit for its long term survival and also want to obtain a sustainable position in the Banking sector in the country.
In keeping this in mind, EXIM Bank’s corporate Missions are-
- To provide high quality financial services in export and import trade.
- To provide excellent quality Customer service.
- To maintain Corporate and business ethics.
- To become a trusted repository of customers’ money and their financial advisor.
- To make our stock superior and rewarding to the customers/share holders.
- To display team spirit and professionalism.
- To have a Sound Capital Base.
- Create wealth for the shareholders.
- To provide standard financial services.
- Wealth maximization
- To build a sustainable
- Respectable financial institution
- To be a leading Commercial Bank
- Local Bank Global Network.
- Together Toward Tomorrow
CORPORATE CULTURE OF EXIM BANK
This bank is one of the most disciplined Banks with a distinctive corporate culture. Here we believe in shared meaning, shared understanding and shared sense making. Our people can see and understand events, activities, objects and situation in a distinctive way. They mould their manners and etiquette, character individually to suit the purpose of the Bank and the needs of the customers who are of paramount importance to us. The people in the Bank see themselves as a tight knit team/family that believes in working together for growth. The corporate culture we belong has not been imposed; it has rather been achieved through our corporate conduct.
Introduction in Bank Account
There are certain formalities to be observed and conditions to be fulfilled before an account can be opened. In fact, opening of an account amounts to entering into a contract. viz. a legally binding agreement between the customer and the banker. To every contract, there must be at least two parties. In opening an account, the customer proposes to the banker to open an account and the banker accepts the proposals. The contract thus entered into between the customer and the banker is legally binding on both. Before opening a current account the banker should take certain precautions. The banker should ask the proposed customer to fill in the account opening form and state his profession or trade and address. The banker may also enquire as to the purpose of his account. The banker may ask him to get and introduction from a person know to the bank.
The relationship between the banker and the introducer is a one of good faith. Ordinarily, he has no legal responsibility to the bank in introducing a customer. However, if the introducer knowingly establishes incorrect identity of a person, he may be held liable. It is presumed that the introducer, who is one of the bank’s good customers or is known to the bank, will not pay false with it or do anything deliberately against the bank’s interest.
Who can introduce
Someone known to the bank, preferably one of his own customers or a person of standing in the locality can introduce the proposed account holder.
Bank’s agent, accountant or any officer, or a member of the cash staff who has been in the service of the bank for some years may introduce the proposed customer, provided his knowledge of the person introduced is intimate and sufficient.
EXIM Bank provides its services toward various parties such as-
- Private limited company
- Public limited company
- Association, Clubs, Societies, Trusts etc.
Account of individual (single name):
The individual should fill in the account opening from giving particulars such as his full name, address, occupation, telephone number, and his specimen signature. No special instructions regarding operation on the account need be taken, since he is the only person to operate on the account. He may, however, authorize another person to operate and for that purpose give a mandate or power or attorney in favor of that person.
Different mode of operation
- Either or survivor
- Jointly or survivor
- Former or survivor
- Any of us or any of the survivor of us or the last survivor
- Any one of us or the survivors or survivor
A partnership is the relation between person who have agreed to share Sometimes, the banker is approached with a request to open an account through that is a person holding a power of attorney for the purpose. The banker does not normally agree to such a request since he has no source of
Verifying the validity of the power of attorney as on the date of the request. It is possible that the principal has revoked the power of attorney or is dead.
A sole proprietorship concern is a business carried on by individual owner in his own name or a trade name. It is usual in such cases to take a declaration from the sole proprietor that no person other than himself has any interest in the business as a proprietor or otherwise and he as the sole proprietor will personally be liable for all dealings and obligation in the name of business.
In the case of proprietorship concern, the special instructions should cover the style of the account and the name of the person who will operate upon the account as sole proprietorship.
Be a joint account, we mean the account of two or more persons who are not partners. In a joint account, it is important to get clear written instruction as to: (a) the mode of withdrawal and (b) payment of the balance in the event of death of one or more of the joint customers. When a joint account is open, it is advisable to get all parties concern to state in writing the names of the persons who would operate on the account and get their signatures to signify their consent. Unless this is done it is not safe to honor cheque without the signature of all the parties.
In respect of joint accounts of individuals, the special instructions should be obtained to cover the points as to:
- Who will generally operate upon the account and sign the cheques drawn on the account.
- Whether the balance is payable to the survivor or any of the survivors or survivors jointly (when the account is in more than two names) in the event of death of either/any of the account holders.
- To whom will the securities, if any, be deliverable.
These special instructions must be initialed by all the joint account holders to signify their consent.
The profits of a business carried on by all or any of them acting for all. The losses have to be similarly shared unless there is a contract to their contrary.
The special instructions in case of such funds cover the style of the account and the names of the partners; also the partner or partner who will operate in the name of firm. Normally, partnership accounts are operated upon by any one of the partners. The accounts with restrictive operations, where
One or more partners will not operate account, are not usually opened. In special cases, however, opening of such accounts may be considered and any indemnity taken to be protects the interest of the banker.
Private and public limited companies:
A company means a company formed and registered under the companies act. 1956 or an existing company formed and registered under any of the previous companies law. It is an association of persons called numbers but has an existence a part form the members. The members may die or become in solvent and excepting where the minimum prescribed under the act (seven in the case of public limited company and two in the case of
Private limited company) is affected, the company will continue. The company is a legal person that is an artificial person created by law. The company cannot carry on any business, which is not permitted by law.
There are several types of companies:
- Companies limited by shares.
- Companies limited by guarantee
- Unlimited companies
Association, Clubs, Societies, Trusts etc:
An association or a clubs has no legal entity unless in corporate as a company under the companies act, 1956 or registered under any other act. Therefore, the banker have to exercise great care in handling proposal for opening account of such associations and clubs, say, started for the purpose of sports, recreation, promotion of fine arts, education, etc. difficulties arise as these association have no legal entity and their members cannot be held personally liable for the commitments of these bodies. Accounts of this type should therefore, be opened only for reliable and respectable and clubs.
These parties get the opportunity to maintain different types of accounts according to their need. Generally businessmen, Contractors hold one type of account where as the general people or service holders hold other types of account, sometimes both may maintain the same account.
According to the category of parties, accounts can be classified into three main parts:
- Current account (C/A)
- Savings account (S/B)
- Short term deposit (STD)
A brief explanation of these accounts is given below:
|Current Account||Businessmen, contractors etc||As many times as possible||Frequent|
|Savings account||Service holders etc||Do||Twice in a week|
|Short term deposit||Businessmen (only valuable customer)||Do||Frequent|
For any of the above accounts to be opened, the party must follow 2 things:
- An introducer who must be of current account in case of opening a current account and he may be either of current account or of savings account in case of opening a savings account.
- An initial deposit of amount minimum Tk. 500.
Clearing means such a technique through which bankers can arrange of receipt or payment on mutually issued cheques or bills.
Clearing house is an office or a room where bankers gather to meet up their mutual receipt-payment through a special technique.
How the clearing is accomplished:
In Dhaka, Bangladesh bank performs the clearing house activities of clearing. A cheque or bill should be crossed, sealed of “clearing house” with the clearing date (the next day of sealing) and endorsed by the authorized officer. Then cheques or bills are sent to the corporate branch of the bank. In the next day, those are sent to the clearing house. Then representatives from the listed banks submit their receipt statements along with cheques or bills. They prepare an aggregated statement of debit-credit through exchanging mutual statements. Thus, clearing house arrange of meeting up the debit-credit balance of each bank by examining the statement.
It is indicated that each branch of a listed bank prepares a statement of its own receivable cheques, bills and sends to the head office. The head office of the bank prepares an aggregated statement by accumulating all receivable statements from branches. Then representative from each bank keeps a copy of statement at its own specific desk in the clearing house. Thus the listed banks transfer their “out- clearing” and accept their “in-clearing” statements. Then they find out their credit and debit balance by differing their out-clearing & in-clearing figures.
EXIM Bank Ltd, Narayangonj branch maintains 3 types of remittance, which are:
- Payment order
- Telegraphic transfer
- Demand draft
The Narayangonj Branch allows its account holders or outsiders to send money or pay to outside branches of EXIM Bank of Dhaka through cheque or cash payment. Money is sent by using telephone or telex machine. The drawer must have an account in the sent bank. A test number is used for this transfer where the drawer must know about it.
It is similar to the telegraphic transfer except using a demand note for transferring money from branch to branch of EXIM Bank.
It is a non-negotiable credit document. It is generally used as an alternative of money. It can also be used as security of the loan. A bank issues the pay-order in term of a specified fee to safely exchange of money. For transferring money, pay-order can be used as cheques where client of other banks can easily credit through clearing the pay-order.
SWOT Analysis is an important tool for evaluating the companies Strength, Weakness, Opportunities, & Threats. It helps the organization to identify how to evaluate its performance & scan the macro environmental, which in turn would help the organization to navigate in the turbulent ocean of completion.
The top management of the Bank is an essential strength for the EXIM Bank Ltd. and contributed heavily towards the growth & development of the Bank. The top management officials all have had reputed of Banking experience, skill & proficiency.
EXIM Bank Ltd. Has created standing in the banking industry of the country chiefly among the new comers. EXIM Bank Ltd. Has already has already established a film grip in the Banking sector having tremendous growth in the profits & deposits within a phase of five years.
Modern facilities & computer:
From the very beginning of EXIM Bank Ltd. tried to furnish their surrounding with modern equipment & facilities. From speedy services to the customer. EXIM Bank Ltd. has installed money-counting machine in teller counter. The Bank has computerized banking operations under the software called PC bank. More over customers EXIM Bank Ltd. in equipped with Telex, Fax, or SWIFT facilities.
From the formative stage, EXIM Bank tried to furnish their branch by impressive style. This well decorated branch gets attention of the potential customers; this is one king of positioning strategy.
Interactive corporate culture:
The corporate culture of EXIM Bank is very much interactive compare to other local organization. This interactive environment encourages the employees to work attentively. This interactive environment encourages the employees to work attentively. Since the banking job is routine work oriented, EXIM Bank friendly, interactive & lovely environment boosts up the work capacity of the employees higher qualified.
- Advertising & Promotion:
Advertising & promotion is the one of the weak point of EXIM Bank. EXIM Bank does not have any effective truck for aggressive marketing activities. This lacking pushes the bank far behind from the other competitor.
- Disguised Employment:
Reference appointment is very much effective in EXIM Bank. Because of this, there are many people who are only drawing salaries at the end of the month but making a minimum contribution towards the organization. In addition, this related to the problem of reference appointment. On the other hand, officers work hand but are not appreciate accordingly. Those frustrated officers leaving the bank to other bank.
- Limitation of Information System (PC BANK):
PC BANK is not comprehensive banking software. It is desirable that a more comprehensive banking system replace PC BANK system.
- Law Remuneration Package:
At the entry level & mid level officers experience considerable low remuneration package than DBL & PBL. This low pay structure does not attract potential MBA & BBA; they are interested to join other banks instead of joining EXIM Bank. Heavily depends on head office for decision making.
- The Contemporary Banks:
The contemporary banks of EXIM Bank like Dhaka Bank, Prime Bank, Dutch-Bangla Bank, IFIC Bank are its major rivals. They are carrying out aggressive campaign to attract lucrative corporate clients as well as major deposits. EXIM Bank should remain vigilant about the steps taken by these banks, as there will turn affect EXIM Bank strategies.
- Multinational Banks:
The rapid expansion Multinational bank poses a potential threat to the new PCB’s. Due to the booming energy sector, more foreign banks are expected to operate in Bangladesh. Moreover, they already existing foreign banks such, as Standard Chartered in new pursing an aggressive branch expansion strategy. Since the foreign banks tremendous financial strength, it will pose a threat to local banks to a certain extent in terms of grabbing the lucrative clients.
- Upcoming Pharmaceuticals:
The upcoming private local banks can also pose threats to the PCB’s. It is the expected that in the next few years more local private banks emerge. If that happens the intensity of competition will rise further & banks will have to develop strategies to compete against an on slaughter of foreign banks.
- Default Risks:
The default risks of all terms of loan have to be minimizing in order to sustain in the financial market. Because default risk leads the organization towards to bankrupted. EXIM Bank has to remain vigilant about this problem so that proactive strategies are taken to minimize this problem if not elimination.
- Default Culture
Default Culture is very much familiar in our country. For a bank is very harmful. EXIM Bank has not faced seriously yet. However the banks grow older it may be ill with this situation.
Every study have some specific findings, my reports is not exception to this. In my study I want to show overview of EXIM Bank & evaluated the performances, as I worked three months as an intern so I had that opportunity to look closely EXIM Banks positive & negative thinks. In this study I had found that EXIM Banks overall performance is significant. EXIM Bank has a strong growing base in Bangladesh.
Its position in terms of capital, deposits, cash position, investments, advances, total assets, net profit etc, is always showing an increasing trend. In this report I had also found its sound management that is efficiency regarding both financial & operational management. EXIM Bank is playing role as a model in the banking industry in its operation period in Bangladesh. But I have found still there are some areas where the bank still got the scopes to improve their performances. Some specific findings are mentioned below.
General Banking Department:
- In general banking department they follow the traditional banking system. The entire general banking procedures are not fully computerized. Therefore, some processes for example collecting money from the deposit take a long time to perform.
- Lack of variety is also a drawback of the general banking area of the EXIM Bank ltd. The bank provides only some traditional limited services to its client. Consequently the bank is falling behind in competition.
- There are not using Database Networking in information Technology (IT) Department. So they have transfer data from branch to branch & branch to head office by using Floppy disk & sure it is not good system.
- In case of opening an account, some big parties are come to open accents in reference with the high officials of the bank. They do not submit all papers that required for opening an account & in future they do not feel any urge to submit there papers but already they become accounts holders. I think in this case the authority is violating the rule.
- According to some clients opinion introducer is one of the problems to open an account. If a person who is new of the city wants to open account, it is a problem for him/her to arrange introducer of SB or CD accounts holder.
- Encoding & decoding process of test number consumer most of the time of the officer who works in the desk. However, a simple computer program could do the same if the desk were computerizing.
Banking is a service oriented marketing organization. Its business profit depends on its service quality. That’s why the authority should be aware about their service quality. Though EXIM Bank provides quality service to its customer but it has some weakness in overall performance. TO wipe out this weakness I have made the following suggested solution.
- Establishing Employee Training Institute:
Training is never ending process. EXIM Bank does not have its training institute. The bank authority takes help of Bangladesh Institute of Bank Management (BIBM) to train their employee that is sufficient for the bank. Therefore bank always has to maintain the schedule & course of BIBM. The establishment of own training institute will enable the employee of the bank to provide better services to the customer. Currently the branches do not have the qualified system operators. Rather ordinary persons have been appointed in this position & they learn the job in trail & error process.
- Increase Promotional Activities:
EXIM Bank should pursue an aggressive advertising campaign in order to build up a strong image & reputation among the potential customers. It must give the idea of maintaining a low profit in the market. Rather it should come in to the limelight through an aggressive marketing campaign such as advertisement in newspaper & magazine, more billboard & neon signs, publicity message & promotional campaigns. EXIM Bank can also pursue promotional campaigns with its customers particularly the corporate clients in order to build up a stronger rapport with them. Advertisement to be made in Newspaper, Journal, Magazine, TV etc. TV advertisement is also a major method for attracting the potential customers. The bank can sponsor sports event of the country.
- Rearrange Recruitment Process:
Recruitment should be in a systematic & effective process that can make sure that the right people are in the right place. Now as the bank is expanding, it must focus on attracting, getting & retaining qualified personnel for filling up the positions. It rather then getting is worth spending more or attracting qualified human resources the wrong people in the wrong position.
- Eliminate Reference Appointment Tendency:
EXIM Bank management & particularly the board of directors must change the system of appointing people by giving their reference. It has been deeply observes that most of the reference appointees are not up to the standard & have a poor performance. For the good future of the bank & make future strengthening the banks quality of workforce reference appointment should be stopped immediately.
- Up Gradation of service quality:
Compare to other competitor & multinational banks EXIN Bank failed to provide better services to its customers. The service is worst in the general banking division where the retail customers are not getting the service properly. The management has to take special care & steps to improve this situation. People of this area should more skilled & well trained.
- Restructuring Remuneration Package:
The present compensation package at EXIM Bank is not very special & not capable to attract quality personal to fill its position. Many skilled & developed officers of the bank are depressed with their compensation package. The foreign banks pay almost double & other private banks have a higher scale than EXIM Bank it is high that the management should consider revising the remuneration in order to attract quality human resource.
- Advance banking software:
PC banking software is not sufficient software that can help the bank to provide speedy services to customer & internal uses. Therefore, the concerned authorities should consider replacing the PC bank system with more advanced banking software.
- Establishing Library:
Sufficient books on banking & finance & other necessary journals are not available in the bank. The bank authority should enrich its collection in order to keep all necessary reference available to the employees as needed. This step will able to make employees knowledge on banking different critics & current events.
- Appointing a Relationship Manager:
EXIM Bank should start appointing a relationship manager (who will deal with individual customer & try to solve their problems) in their all branches.
- Be Innovative:
To seize the market leading position EXIM Bank should be innovative. They should always think about the present time & the requirement of the situation. They have always implemented modern technologies & facilities. In terms of modern technologies & services hey are far behind from other competitor.
EXIM Bank should offer credit card & automated teller machines (ATM) card introduced as soon as possible because of its prevailing demand of the customer & the customer is now transferring in the technology based.
The purpose of the report was to do an evaluation of the General Banking & Foreign Exchange Operation with the EXIM bank limited and scope for its improvement. As a Narayanganj branch face a tremendous pressure with the customer and the department’s officials try to handle the customer carefully.
The total deposit in the banking sector reached Tk. 15,242.97 million on December 31, 2003 as against Tk. 9,945.23 million on December 31, 2002, which registered an increase of 53%.
The total Assets in the banking sector reached Tk. 17,888.66 million on December 31, 2003 as against Tk. 11,374.70 million on December 31, 2002, which registered an increase of 57.27%.
The total volume of import business handled by the Bank during the year 2003 was Tk. 19,260.01 million compared to Tk. 13,152.50 million in 2002 registering an increase of 46.44 %. The total volume of export handled by the Bank during 2003 was Taka 15,124.60 million compared to Taka 10,088.30 Million in 2002 registering an increase of 49.92%.
In Narayanganj Branch, the total imports during the year 2004 is Tk. 696.109 million compared to Taka 509.776 million in 2003 registering an increase of 36.55%. The total Exports during the year 2004 is Tk. 113.154 million compared to Taka 39.02 million in 2003 registering an increase of 189.99%.
The Foreign Exchange Operation of EXIM Bank Limited apart from the conventional procedure makes the Bank capable to be a good Bank in Bangladesh. Its earnings from interest indicate its fitness to survive and other achievement is the sign of its longevity. Growth of the bank is very dynamic. It has been able to achieve appreciable progress in all areas of its operation during the year 2003 earned a profit before tax Taka 478.51 million compared to Taka 338.02 million in 2002 registering a growth of 41.56 % over the profit of the previous year.
(Tk. In million )
|Profit before Tax||80.22||244.25||388.02||478.51|
|Profit after Tax||48.14||158.06||201.42||254.79|
|Net Interest Income||58.79||100.01||203.88||274.77|
In Narayanganj Branch, the total Profits during the year 2004 is Tk. 8114302 compared to Tk 3760132 in 2003 registering an increase of 115.80%.
(Amount in Tk.)
Although EXIM bank is yet to be fully automated the bank has adequate technology to meet its present requirement and it proceeding aggressively to enhance its technology level. Many products are introduced in the market in recent days and more innovative and diversified products are in the offering. The products are well received by the market, which is evident from the growth pattern of those products. The bank has also introduced various welfare schemes for its employees with a view to retain its trained and experienced human resources on longer term basis and to create a sense of belongingness. The bank management believes that lower employee turn out ratio will improve productivity of the banking future.