Katherine Mansfield A Cup of Tea Essay

I really like â€Å"A Cup of Tea† a lot. It, among other things, does a brilliant job of depicting matrimonial jealousy and insecurity. Our lead character is a very wealthy young woman, Rosemary, seemingly recently married. Her time is largely taken up with looking for ways to spend money. As the story opens she has just bought a small box in an exquisite shop, the cost is about six months pay for an ordinary working man of the time Rosemary has been reading Dostoevsky lately and when she is approached by a very bedraggled looking young woman asking for the price of a cup of tea she is at first put off but then she decides to have a bit of an adventure. She invites the girl to come home with her. The girl is so hungry she overcomes her fear at talking with someone so far above her station in life and agrees to go with Rosemary. So Rosemary takes her home feeling a triumph as she nets a little captive. It’s evident that Rosemary is just playing with a prey like a cat does.”†Now, I got you†. Rosemary is longing to be generous and is going to prove that as Mansfield writes ‘wonderful things do happen in life, in the life of the upper class, to which Rosemary is a fine example, and it seems that the only things she cares about are her feelings and amusement. After they arrive at the house the action starts in Rosemary’s bedroom. Mansfield is trying to underline Rosemary’s status â€Å"the fire leaping on her wonderful lacquer furnitureÂ’, ‘gold cushionsÂ’ all these things dazed the poor girl†. Rosemary on her part was very relaxed and pleased; she lit a cigarette instead of taking proper care of Miss Smith. By the way her name is not even mentioned yet, like it’s of no importance at all. We can find the girl on the brink of the psychological despair. Rosemary can’t face the reality the poor as it is; Rosemary Fell sees everything in rose-coloured spectacles, through the filter of the upper class society. And it looks if not pathetic then quite sad. But after the marvelous meal our creature transforms into something undeniably attractive Ââ€" “frail creature, a kind of sweet languor. And for Rosemary it’s high time to begin. Instead of asking her name or other decent question Rosemary’s firstly was interested in her meal, it is quite impolite. The Philip enters, smiling his charming smile and asks his wife to come in to the library. He requires explanations from his wife, learning that the girl is as Rosemary says ‘a real pick upÂ’ that Rosemary wanted “to be nice to her. Philip guesses what is all about shows his remonstrance against the idea ‘it simply can’t be done. And then he uses his heavy artillery Ââ€" calls miss Smith ‘†so astonishingly pretty†. He knows it will do some harm to his wife. These words immediately heat jealousy in Rosemary’s veins up. “†Pretty? Do you think that?†Ã‚” and she could help blushing. â€Å"She’s absolutely lovely!†Ã‚” Rosemary looses her temper. She recollects his words over and over. And all leads to the phrase â€Å"Miss Smith won’t dine with us tonight†. Rosemary is eager to retain her husband’s attention. Rosemary seems to be so distant from poverty but on the other hand she doesn’t have anything really valuable, like a basement to lead such glorious life in this world : no taste, no wish to see the world in the raw, sometimes no manners, and perhaps even no prettiness. That’s why she is trying to have things and do things which would help to retain the status like knowing more about the poor and having beautiful things to be associated with. To put in a nutshell the story is reach in different stylistic devices and I think conveys a distinct and valuable message. The story, â€Å"A Cup of Tea† tells us how people show generosity to people whom they consider their inferior. People do so partly to show off their superiority to the poorer beings. Generosity in most cases is only to satisfy one’s ego. The story shows how generosity and benevolence evaporates when the object of pity goes against one’s self interest, ego and vanity.

City and Country Living

City living and country living have a wide range of differences and similarities but every day new people enter each and call it there home. When living in the city you are an on-the go kind of person and enjoy the world at a fast pace. In comparison to a country living style when time stands still. It’s as though you watch as the seasons come and pass every year. Both have many positives and some negatives but it’s a very hard choice when you are talking about living in a jam packed city compared to a spacious in the country-side.While living in the city, you have numerous things to do the opportunities are endless. On any given night you can walk around and enjoy the wonders of the city the sights, sounds, and delightfulness takes your breath away at all times. In addition the city has other things that also are beneficial like numerous cultures that live there and how they are portrayed through the different clubs and restaurants throughout the city. Also a great thi ng about the city is its different array of foods you can eat an expensive dinner or you can stop on the corner and get a hot dog.The city also has many different bar like atmospheres where you can get a casual dinner, or you can have an alcoholic beverage and enjoy yourself. Being a city-dweller you are always around excitement and a great place to make-a-living seeming that there are so many opportunities for work. Although the city seems to have a lot of great things, the country can offer just as much excitement as the city does just in a different type of excitement. The country is a marvelous place to live it offers a very relaxing feel, and is filled with magnificent views.Even though you’re not living there you can still access the city via transportation. Also the country can maybe help you become a more self-sufficient person, growing your own produce and becoming more of an outdoors person often enjoying the voices of nature through the night with crickets chirping or the rooster crow in the morning nature and its occupants are surrounding you in the country. Another thing about the country is it offers a very safe community with very little chance of crime and the air quality is a lot less polluted then living in the city.Living in the country is awesome and has a wide variety of positives when setting up a family environment. In contrast to all of the great things the city provides, the city can have a downside. The noise level of a city can stress you out; rarely having downtime when there is constant commotion. Another negative about the city is thatitss such an expensive lifestyle without much money it would be hard to live in the city because it’s a much more extravagant lifestyle then the country.It’s a very hectic lifestyle and can sometimes prove to be too much for people; it’s also a very noisy place with the screeching of brakes or babies crying there is always something going on in the city. People in the city usually aren’t worried about you either there more worried about keeping up and on time for their self and they would much rather move along then stop and associate with you. The city does have a downside like everywhere else but can provide a very safe and stable home. Even though the country can be an awesome place to live and start a family there is, like the city a downside.Being in the country you don’t have such interesting things to do in your free time as the city. If you don’t have a car it may be hard to commute to work because there aren’t any buses that go that far away from the city. Another bad side of the country is the lack of entertainment because there aren’t many places to go, hangout and have a bite to eat at in the community you would have to travel to have that luxury. Even though there are negatives, the positives outweigh them and the country still provides a great place to live.Having to choose between these two places to live would be very tough. Although I think both places are great they both have some disadvantages that would represent problems. The country is for relaxing and enjoying the outdoors more suitable for the slow-paced people; while the city is more cluttered and people live for the nightlife and a much more fast-paced lifestyle. Your character and how you want to live are the only ways you will be able to make the choice on where you want to live; the city or the country.

New Resources Tax in AUstralia ( MRRT) and it's effects on Australian Essay

New Resources Tax in AUstralia ( MRRT) and it's effects on Australian mining companies - Essay Example The Gillard Government’s proposed resource tax gained high approval from the International Monetary Fund, quoting it as a â€Å"step in the right direction.† Moreover, the MRRT would achieve the nation’s trust for consumption-based taxes and abolish ineffective taxation (Landers 2010). Because the MRRT is liable only to mining companies of iron ore, coal, oil and gas, there will be a reduction of the figure of affected companies from the previous 2,500 taxpayers to approximately 320 (Cherrington 2010). Taxpayers with annual income of no more than $A50 million will be exempted from the MRRT (Minerals Resource Rent Tax Regime n.d.) -The proposed MRRT promises an optimistic stride for mining investments in Australia. It offers a better guarantee for up-and-coming mining ventures, particularly those in the non-production of iron ore, coal, oil and gas. -For companies in mining ventures, the determination of taxable resource and revenues will be based solely on the nearest point to extraction as possible. This change would not deter the companies from their capital cost recovery and internal return rate. -The key adjustments from RSPT to MRRT in tax rates, particularly the 40% tax reduced to 22.5% rate and the resulting beneficial impacts on the projected efficient tax rates is forecasted to boost global competitiveness (Minerals Resource Rent Tax replaces RSPT 2010). The three pioneer mining companies in Australia: BHP, Rio Tinto and Xstrata equally agreed on a non-permission of the Australian tax to implement a target that could impact their multi-national operations. Their joint apprehensions over fluctuation on international shares and financial markets, whereupon loans are made to fund their projects, strengthened their vigilance on impending tax hikes by the government (Head 2010). The government negotiated exclusively with the

The Negative Effects of Climate Change on Food Security in the Essay - 2

The Negative Effects of Climate Change on Food Security in the Caribbean - Essay Example Acid rain can take away important minerals from trees, plants, and soil (Smith et al., 2002). Without the presence of minerals in the soil, the plants and trees will not be able to grow properly. Based on this context, food security is being threatened because of insufficient supply of foods. Acid rain can cause serious harm to the plants and trees in the forest. In the absence of plants and trees in the forest, climate change such as the increase in the frequency and strength of extreme weather events like droughts, El Niňos, cyclones, heat waves, floods and king tides will become unavoidable (Choi, 2012). Similar to the negative impact of acid rain in the food security of the Caribbean, the presence of droughts, El Niňos, cyclones, heat waves, floods and king tides will also trigger a significant decrease in the country’s available food supply. Climate change is something that is uncontrollable by the humankind. For this reason, the only way to protect the food security of the Caribbean is to encourage its government to import and stock up at least three (3) to six (6) months supply of non-perishable food items. By doing so, the government of the Caribbean can ensure that there will always be food security for its people.

The use of gaming in e-Learning Essay Example | Topics and Well Written Essays - 1000 words

The use of gaming in e-Learning - Essay Example Other factors such as the quality of the sound and visual features, and the element of drama in a game influence how well it is perceived by users. One case study, that of the Monkey Wrench Conspiracy did appear to be very popular with users, and to have valuable outcomes for the company who used it. The Case study answered a number of key questions about e-Learning: †¢ Will gaming prove to have more interactivity than the normal e-learning provided by organizations? The company had experienced some difficulty in training staff in the use of design software, and this e-Learning program succeeded in persuading staff to solve little interactive puzzles in an imaginary aliens-in-space scenario. The game was loosely linked which means that tasks were set to be completed outside the framework of the game. The challenge of solving the problems did not affect game progress in a direct way, but the game did provide a goal setting and framing structure, with an entertaining narrative, that encouraged users to follow through to the end. †¢ Will gaming be more cost effective than other methods? In this case study the game program was free to use, since it had a marketing as well as a training function. The cost of running it was therefore small, but on the other hand the cost of monitoring the results was rather higher, since there was no way of measuring how well users completed the task unless this happened in a separate context outside the game.

IT and Business Research Paper Example | Topics and Well Written Essays - 1250 words

IT and Business - Research Paper Example Networking especially using the web and the internet cannot be sidelined in the banking sector. A computerized control system controls the activities of the bank. The term deposit department can check with the operations department, when the deposits of the customers goes up in order to guide them to put their money into term deposits to generate more interest on their money. The marketing and the operations department can be connected through the IT system as the marketing department can search for new customers and can ask the operations department to settle them accordingly. The credit department, through the IT technology, keeps in touch with the operations system before extending credit facilities to any customer. Thus information technology systems help all the four departments to work together. â€Å"Firms with high IT capability tend to outperform a control sample of firms on a variety of profit and cost-based performance measures† (Bharadwaj 169). 3. List the four pri mary reasons for the growth of decision-making information Systems Ans) The growth of decision making systems is high in banks. ... The decision making systems are very helpful in generating intelligence data, which is required for the managers in order to overcome competition in the industry. Generates decision model – The use of decision making information systems enhances the appropriate decision making in banks. The use of decision making systems guides the management in making intelligent decisions for the bank. Problem solver– The use of decision making information system acts as a great problem solver in the banks. The decision making information system is helpful in generating solutions for the problems faced by the management. A strong database – The decision making information systems acts as a strong database in which information can be viewed at a very short notice. The decision making systems helps banks in providing better services to customers and increases their market among customers. 4. Regardless of the scale and scope of your e-business Web site, what are the basic steps i n the website development process? Ans) A website is a part of the bank’s system. A website development process involves a number of steps. Before starting the website development process, a careful analysis of the organization’s requirements is need to be done. The main criterion in the website development process is how the establishment of the website will generate business for the firm. It should be analyzed what is the firm’s requirement. For example does the firm use the website to market its products or does it use it to maintain its resources or does it maintain the website in order to display its human resources online. Then the second step is building according to the specifications, such as the general layout, the site

City and Developer Spar over Coney Island Visions Case Study

City and Developer Spar over Coney Island Visions - Case Study Example Bloomberg is a businessman himself and believes in achieving profits through growth and development. He believes in advantages of empowering the private sector and his administration has expedited permits and sanctioned building designs with minimum interference. The administration has been encouraging companies to start business in Coney by providing incentives in the form of tax breaks and freeing up unutilized areas along the beachfront. The general public was divided in their opinion about the proposed development of the amusement park. While some agreed that a sophisticated and expensive amusement park was required in Coney to attract tourists, especially from neighboring areas, others were wondering about the costs to be incurred and whether the place would get enough tourists. Some were of the opinion that since people would visit Disneyland and other specialized places for amusement and vacations, there would not be enough money coming into the city through the new plans. As Charles Bagli wrote in The New York Times, "The proposed rezoning, which covers 19 blocks and 47 acres from the New York Aquarium west along the oceanfront to Highland View Park, would transform an area pockmarked with empty lots and seedy buildings that still manages to attract millions of visitors every summer to the beaches, a ballpark and assorted attractions from roller coasters to sword swallowers.[nov,2007]." There have been criticisms of the city's plan, from various fronts. The groups Save Coney Island and the Municipal Art Society, argue that the amusement district is too small and would be weighed down by development. They argue that to be really successful, the administration must have at least three times more land dedicated to the new amusement park and also introduce whacky rides. The group has also suggested the installation of an "eye popping" Ferris Wheel at a height of 443 feet, similar to the London Eye. The most vocal criticism has been that of Joseph Sitt, the owner of Thor equities. Sitt had bought property worth $100 million in Coney in 2005.He has visions of putting up an amusement park like Disney World in place of the existing amusement park. He put forth his plans before the public arguing that to be economically feasible, there should be time-share hotels/condominiums and large retail shops. The administration however, doesn't permit the building of time-share holidays is under the city's zoning proposal. To further pressurize the government into action in his favour, he had promised to buy more land around central Coney area and even evicted some tenants like Astroland amusement park, adding to the vacant plots on the waterfront. In partnership with private builders, the Bloomberg administration has offered the city the most affordable homes in a long time. The question here is, can Coney afford such extravagance at this point in time The common man is not concerned about the success of either Bloomberg's plan or Sitt's plan for the upcoming amusement park. He is already burdened by problems of recession, which in turn is going to affect the profits at the amusement parks. Retail sales too have been declining over the past two years and arranging finance for the project would be a bigger problem. Whether Bloomberg's proposal is

Gender and the Media Essay Example | Topics and Well Written Essays - 1500 words

Gender and the Media - Essay Example The masculine is attributed to males while the feminine to the females. The document below analyzes the way media displays husbands as commercial or entrepreneurs while wives are always linked with kitchen or home matters (Carter 2). Mixed sentiments always feature concerning this matter some aiming to support while others stand to condemn it. I wish to counter this statement. Media is vital in creating social norms. This is because various media forms including television, film, and advertisements are available everywhere in the world today. The existence of gender roles is sole as a result of society choosing to accept them. However, the media tends to perpetuate them. According to Carter (2011), mass media like news industries, entertainment and advertising tend to portray men as well as women with stereotypes whereby ladies or wives are placed in deprived situations such as submissive and passive roles. Men or husbands, on the other hand, are usually revealed to have a likelihood of succeeding and always concerned with their occupations. Consequently, power relations and the traditional gender roles have become deeply interiorized in the sub-consciousness via the mass media. Biblically as well as according to the social set up, men are obligated to provide for the family. They are, therefore, required to be aggressive so as to put something on the table for their wives and children. The scenario of husbands being revealed as commercially oriented persons while wives as people dealing with domestic matters is an understandable fact. This is because for husbands to provide, they have to be entrepreneurs or focused on their occupations (Warren 2). Wives, on the other hand, have the right to be at home minding the domestic matters since the husband is providing. It is hence justifiable to say that husbands are commercial while wives are only meant for the kitchen matters.

Psychology of Marketing Essay Example | Topics and Well Written Essays - 250 words

Psychology of Marketing - Essay Example Herberg’s theory presents a dichotomy for possible resolutions for targeted consumers: satisfaction versus dissatisfaction (Kolter & Keller, 2012; Durmaz & Diyarbakirlioglu, 2011). Consideration of both outcomes is important as neither can apply in the absence of the other. When marketing, it is important to incorporate both sides of the dichotomy in one’s thinking as they almost equally influence the decision made by the consumer. The marketer must not fail to recognize the needs of the consumer, and, consequently, place their product within their list of needs. To achieve this, they must be able to sufficiently but fast introduce the product, and discuss its value in light of the consumer’s current needs in order to make it appealing to them (Bohm, 2012). As such, the marketer’s main pursuit lies in their ability to motivate a consumer so they can get a favorable perception of the product while deciding on

SWOT analysis is deeply flawed and should not be applied as a modern Essay - 1

SWOT analysis is deeply flawed and should not be applied as a modern marketing tool - Essay Example These include evaluating the progress of the existing strategy (Aaker, 2001, p.18). Evaluation should be done from a qualitative perspective such evaluation of completeness, internal consistency, rationale and the suitability. More so, quantities point of view should be put into consideration including the strategic and financial outcomes for the strategy (Sanchez and Heene, 2010, p.11). With stronger company’s overall performance, there is no need for changes. Secondly, the evaluation is important because company’s competitive capabilities and the core competencies are identified. The capabilities which are most logical lay a foundation for company’s achievement (Aaker, 2001, p.19). The most strategic competences are competitive rare and hard to imitate or to find substitute. Previously, a good strategy to size up company’s resource strength was the SWOT analysis. It is powerful in determining the company’s strengths and competitive deficiencies, opportunities and other external threats empowering its future (Thompson, Strickland and Gamble, 2010, p.10). However, recent investigation has pointed out some weakness in SWOT analysis. Despite the longevity and extensive use of the analysis in firms and classrooms, SWOT analysis has been shown to yield misleading consequences that some of the authors have advised scrapping it (Smith, 2006, p.2). DOE analyzes the firms system resulting to better information when surveying internal and external nexus (Valentin, 2005 p.54). The paper addresses the intrinsic worth of SWOT analysis framework. SWOT analysis is a criteria used to define business internal context in terms of strength, weakness, opportunities and threats. It provides strategic insight of a business to fragment facts and figures for effective planning. Such superior and strategic approach enhances competitive advantage to a firm (Smith, 2006, p.4; Valentin 2005, p 53). Organization strengths include all the skills

Gsis Museo Ng Sining Essay Example for Free

Gsis Museo Ng Sining Essay Museo ng Sining was established in April 1996. Its creation is a tribute to the creative endeavors of the contemporary Filipino. Its vision is to help define the growth and glorious flowing of Philippine visual arts. Its objectives are: To collect Philippine art and artistic expressions from the colonial period to the present . To exhibit and document Philippine and non-philippine art and artistic expressions . To heighten art appreciation among the 6SIS personnel and the general public The 6SlS Museo ng Sining functions not only as an exhibition space but as an ducational technology as well. It has the following activities: Permanent exhibition of the 6SlS Art Collection Changing exhibition in the galleries featuring cultural themes and works of new artists Art activities, lectures, workshops, and films focused on the role of art not only as an aesthetic experience but as a significant factor in everyday life 6SIS MUSEUM HELD ME-DISINING EXHIBIT The Government Service Insurance System (6SlS) held an exhibit in honor of the works of Toribio Herrera, one of the pioneers of Philippine painting in the 1920s who set the tone for modern day artists. The exhibit, titled MediSining: The Art of Toribio Herrera, MD, is held at the Upper Gallery of the 6SlS Museum of Art in Pasay City and ran up to November 30, 2009 In his lifetime, Herrera never exhibited his works to the public nor sold a painting as he did not seek monetary rewards for his art. In fact, his very first exhibition was held in 1972, four years after his death. Born in Tondo in 1892, Herrera first graduated in Medicine at the University of Santo Tomas in 1912. Later, he took a second course in Fine Arts at the University of the Philippines, and as eventually accepted to teach there. Influenced by a deep understanding of both intricate human anatomy and the profound brush strokes and lines that make up perspective, his paintings are a Joy to behold, said 6SlS President and General Manager Winston F. Garcia, in appreciation of the works of Herrera. His scenes are simple yet very moving. Herrera was part of the Amorsolo, Castaneda, Miranda Group of Filipino Genre Masters who set the tone of Philippine painting, particularly during the 1920s. We are lucky that in this country, we have our artists, who keep efining us as a country and as a generation, Mr. Garcia added. SA AMIN MAY SINING The 6SlS Museum, in partnership with Kuta ng Sining, Inc. , also showcased the works of Quezon artists last August 7 to 28, 2009 entitled Sa amin may Sining. The province of Quezon is not only known for its Pahiyas festivity but also for the ingenuity and crea tivity of its home-grown artists. Featured artists in Sa amin may Sining include Noel P. Bueza, Erick Dator, Norman F. Ragudo, Monnar Baldemor, Jowell Gaela, and Efren D. Nantes. GSIS PAINTING COMPETITION cross the country, gives away hundreds of thousands of pesos each year to showcase the Filipinos rich talent in art. For this years competition, the 6SlS decided to have an open theme to encourage artists to explore their best in presenting and conceptualizing their artwork entry. The categories for this years competition include representational and non-representational. The 6SlS will give away Pl . 2 million this year, with the first prize winner for each category going home with P300,OOO. The second placer for both categories will each receive P200,OOO and PIOO,OOO for the hird prize. 6SlS ANNUAL ART COMPETITION The Government Service Insurance System (6SlS) believes in the Filipino artist and his invaluable role in shaping how the country thinks. For the sixth year. , the 6SlS is renewing its pledge to support artists all over the country through the Annual Art Competition, which aims to showcase the best paintings and sculptures of this generation. Beyond ensuring lives and property, the 6SlS also insures national heritage, for a nation that carries its artists is a nation that carries itself forward.

Project Management Gantt And Schedules Construction Essay

Project Management Gantt And Schedules Construction Essay Project Management is a huge subject and without it, construction or engineering projects as we know them today simply could not be undertaken. Project management has needed to adapt as the industry has grown and methods have developed particular in the last century, which has seen possibly the greatest transformation of all. Some aspects of Project management have had to be adapted with this whereas others have led the way to change, thanks to innovative thinking from the likes of Fayol and Maslow. The successful management of a civil engineering project depends upon a number of factors. Planning, Organisation, Communication, Decisiveness are all subcategories that need managed. It is imperative that the right procedures are put in place at the start of the project. Good project management will allow for excellent organisation and tracking; better control and use of resources; reduced complexity and early identification of problems leading to quicker correction. A project manager should have a sound body of knowledge that will include the nine core areas of scope, time, cost, risk, integration, quality, procurement, communications and human resources. In addition to a project engineers professional judgement they will need to call upon the necessary tools in order to manage a project successfully, which could include past or similar tasks undertaken or specific management tools, such as charts and schedules. History of Scheduling Gantt charts were developed by mechanical engineer, Henry Laurence Gantt in the early 20th century as a visual tool to show scheduled and actual progress of projects. Although commonplace, today the Gantt chart was fundamental change in the way projects were managed at the time. Gantt charts were first used on high profile construction projects like the Hoover Dam (1931) and the interstate highway network (1956). Complex network diagrams called PERT (Program Evaluation and Review Technique) charts were invented as part of the Polaris missile submarine program in 1955. Booz-Allen Hamilton worked with the U.S. Navy to create these charts and schedules. The Critical Path Method (CPM) was developed by the DuPont corporation in 1957, to deal with a variety of tasks and numerous interactions at many points in time. Arguably, the evolution of modern project management is a direct consequence of the need to make effective use of the data generated by the schedulers in an attempt to manage and control the critical path. The Work Breakdown Structure (WBS) was initially developed by the U.S. defence department, as an advancement of the PERT system noted above. In 1968, it was issued as a military standard, which required the use of work breakdown structures across the U.S. defence department. The standard has been revised and updated over the years and is still in use today. Project Installing new steel beams throughout an existing masonry building and adding a new floor. The project will start on January the 14th and is to be completed by Friday the 29th of March. List of Tasks I have assumed the process of this project management starting from the design phase. Existing masonry strength investigated/tested for ability to take loads Building survey to set out the masonry piers and levels Steelwork design required based on loads to be imposed /spans between piers Timber floor joists and edge restraints designed (with timber plywood deck to act as structural diaphragm). Fabrication drawings completed and issued for tender Steel Tender period Fabricator chosen and contract signed for steelwork Fabrication commences Method statement to complete (Health and Safety) Method statement approved by CDM co-ordinator Erection of scaffolding around piers Existing general masonry repair to piers Masonry removal for padstone and bearing end of beams Padstone installation (Pouring of the in-situ concrete padstone) Concrete padstone curing Ordering of steel installation equipment (crane rig or cherry pickers) Steel delivery to site Steel erection and fixing Timber cut on site Timber floor joists fitted Plywood cut to size Timber edge restraints fixed Plywood decking fitted. Scaffolding around piers removed Project handed over to client for fit out As built drawings records sent to Building Control Project Completion. The importance of getting this engineering aspect of the project completed on time (using affective and accurate scheduling) will allow the decking to be fitted and make the floor usable, enabling the fit out to commence on time and without the need for expensive temporary platforms. Estimated resources and time periods for the tasks Task resources for personnel- abbreviations for use in tables, charts etc. PM Project Manager SU Surveyor SE Structural Engineer FB Steel Fabricator SW Site Workers HS CDM co-ordinator (Health Safety) Estimated No. of days required to complete the task. Personnel resource abbreviation Breakdown of time and resources example Detailed name of the task from task list on previous page Shortened task name as it will appear in schedules PM 0 Days Existing masonry strength investigated/tested for ability to take loads Existing Masonry Test SU 7 Days Building survey to set out the masonry piers and levels Building Survey SU 3 Days Steelwork design required based on loads to be imposed /spans between piers Steelwork Design SE 4 Days Timber floor joists and edge restraints designed Timber Design SE 3 Days Fabrication drawings completed and issued for tender Fabrication Drgs SE 3 Days Steel Tender period Steel Tender Period FB 7 Days Fabricator chosen and contract signed for steelwork Fabrication Contracts PM N/A Steel fabrication commences Steel Fabrication FB 15 Days Method statements to complete (Health and Safety) Method Statements PM 2 Days Method statement approved by CDM co-ordinator CDM Approval HS 5 Days Erection of scaffolding around piers Scaffolding SW 3 Days Existing general masonry repair to piers Masonry Repair SW 2 Days Masonry removal for padstone and bearing end of beams Masonry Removal SW 2 Days Padstone installation (Pouring of the in-situ concrete padstone) Padstone Installation SW 2 Days Concrete padstone curing Concrete Curing N/A 3 Days Ordering of steel installation equipment (crane rig or cherry picker) Plant Order PM N/A Steel delivery to site Steel Delivery FB 1 Day Steel erection and fixing Steel Erection SW 2 Days Timber cut on site to fit Cutting Timber SW 1 Days Timber floor joists fitted Timber Joists SW 4 Days Timber edge restraints fixed Timber Restraints SW 3 Days Plywood cut to size Cutting Plywood SW 1 Day Plywood decking fitted Plywood Deck Fixed SW 1 Day Scaffolding around piers removed Scaffolding Removal SW 1 Day Project handed over to client for fit out Project Hand Over PM N/A As built drawings records sent to Building Control As Built Records PM 1 Day Project Completed Project Completed N/A N/A Work Breakdown Structure (WBS) The WBS communicates a clear view of the total scope of the project, providing a logical and coherent statement of what the project comprises of. The WBS is neither over-simplified or overly complex. It is not a project plan or a project schedule, and it is not a chronological listing. A coding system is implemented to enable cost, schedule, technical and other data to be cross referenced across a project. The project manager is to structure the project work into WBS elements that are: Definable can be described and easily understood by project participants. Manageable a unit of work where specific responsibility/authority can be assigned. Estimate duration and cost can be estimated in terms of resources. Independent minimum dependence on other on-going elements (i.e. assignable to a single task), and clearly distinguishable from other work packages. Integrate integrates with other project work elements and with higher level cost estimates and schedules to include the entire project. Measurable can be used to measure progress; has start and completion dates and measurable milestones. Adaptable sufficiently flexible so the addition/elimination of work scope can be accommodated in the WBS framework. On the following pages are two different forms of the WBS. A standard tabular view used for quick reference / easy production, and the more familiar tree structure view; used to show more clearly the flow of tasks and their relationships. Gantt Charts A common technique for scheduling construction activities is the Gantt chart, named after the developer Henry Laurence Gantt, as mentioned in the introduction section. The Gantt chart lists the construction tasks that need to be performed down a single column, generally in the order in which they are to be carried out, along with a second column indicating the length of time required to complete each task. At the top of the chart, dates for the construction project are noted in a horizontal row. To the right of each task a line/bar indicates the starting date to the completion date for that task. All tasks in the first column are charted in this manner across the rows of the chart, with the bar for each task beginning at the earliest possible starting date. Many tasks must be completed in sequence, requiring the completion of one activity before the next can be started, although some tasks may be completed independently of other work and can be charted when the work is most convenient. The charting of activities allows the project manager to identify critical points in the construction schedule and provides the opportunity to adjust the tasks to meet schedule demands. Gantt charting is useful for small projects that must be completed in a linear manner, or one step after the other, and for contractors who have small crews and can only engage in one activity at a time. Most Gantt charts these days are constructed using computer scheduling programs. Templates provide a listing of typical construction tasks so the project manager only has to insert the duration of the work; scheduling programs have advanced to the point where data about the activities, such as duration and sequence, can be provided and the entire chart generated. For my worked example I have used Microsoft Project. On the following page is a Gantt chart, listing the project tasks and scheduling dates of completion; noting how each task is related and creating a program of works in real time, with dates and deadlines throughout the working week. It outlines which tasks are reliant on others and also which can run concurrently or have no specific scheduling requirements. For example the steel needs to be designed and ordered before it can be delivered to site and the padstones it sits on would need to be in place and the concrete cured before the steelwork could be erected. To maximise time efficiency these tasks will run concurrently (i.e. padstones can be installed while steel is fabricated and before it is delivered to site) these links between tasks can be seen on the Gantt chart. Critical Path Analysis (CPA) Similar to the Gantt chart the critical path analysis is a project-management technique that lays out all the activities needed to complete a task, the time it will take to complete each activity and the relationships between the activities. Also called the critical path method, critical path analysis can help predict whether a project can be completed on time and can be used to predict problems within the program both before starting it and as it progresses, to keep the projects completion on track and ensure that deliverables are ready on time. Advancing from the Gantt chart on the next page is the project critical path (highlighted in red on the subsequent page). Any fluctuations to these dates would have a knock on effect to the overall programming of the project meaning time would need to be made up elsewhere on the remaining tasks, or possible weekend overtime working would need to be implemented to ensure the project was completed by the March 29th deadline. Project Evaluation and Review Technique (PERT) As projects become even more complex and unpredictable, more complex scheduling methods become appropriate. Methods such as the program evaluation and review technique combines critical path analysis with probability to identify completion dates that are optimistic, pessimistic, and most likely. Such scheduling techniques are not applicable to every project, but may be used in large construction projects that are likely to be influenced by nature or human factors. Examples include projects that are to be completed during unseasonable weather conditions or grading in an area that may be delayed due to unknown underground conditions. PERT planning involves the following steps that are described below. Identify the specific activities and milestones. The activities are the tasks required to complete a project. The milestones are the events marking the beginning and the end of one or more activities. Using a work break down structure is helpful to list the tasks that in later steps can be expanded to include information on sequence and duration. Determine the proper sequence of the activities. This step may be combined with the task identification step above since the activity sequence is evident for some tasks. Other tasks may require more analysis to determine the exact order in which they must be performed. Construct a network diagram. Using the activity sequence information, a network diagram can be drawn showing the sequence of the serial and parallel activities. Each activity represents a node in the network, and the arrows represent the relation between activities. Software packages simplify this step by automatically converting tabular activity information into a network diagram. Estimate the time required for each activity. Days are a commonly used unit of time for activity completion, but any consistent unit of time can be used. PERT has the ability to deal with uncertainty in task completion time. For each activity, the model usually includes three time estimates: Optimistic time generally the shortest time in which the activity can realistically be completed, also referred to as the best time. Most likely time the completion time having the highest probability. Note that this time is different from the expected time, (as explained below). Pessimistic time the longest time that an activity might require, also referred to as the worst time. PERT can also assume a beta probability distribution for the time estimates. Expected time For a beta distribution, the expected time for each activity can be approximated using the following weighted average: Expected time = ( Optimistic + 4 x Most likely + Pessimistic ) / 6 This expected time is not always used on the network diagram. On the following page I have used Project Evaluation and Review Technique (PERT) scheduling to construct a network diagram that estimates; best, worst and most likely time periods for each task. While also determining the proper sequence of the activities with a critical path and milestones.

Impact of Campaign Contributions on Policy in Congress

Impact of Campaign Contributions on Policy in Congress Dominique Ornelas   The Impact of Campaign Contributions on Policy Making in Congress Introduction From the 1960s and continuing through the 1980s the number, activity and diversity of interest groups being represented in Washington proliferated. Observers of this phenomenon, primarily journalist, argue that the rise in interest group activity has resulted in interest groups enjoying far too much influence in Congress (Smith, 1995; Stratmann, 2000). However, scholars paint a far less certain picture as to the nature of interest group influence in Congress. This lack in academic consensus has led to a wealth of research. This research largely focuses on one question: how and to what extent do the campaign contributions of special interest groups influence the legislative decisions and actions of individual members of Congress. In this paper I will inventory and review this research to convey as clear as possible where we are in our understanding of whether or not campaign contributions influence the decisions of individual members of the U.S. Congress and conduct a content analysis Literature Review The increase of Political Action Committees involvement in congressional elections have resulted in journalist, scholars and the American public growing increasingly concerned about the influence of campaign contributions by interest groups. However, whether or not campaign contributions by interest groups influence congressional decision making is still a subject of popular and academic debate. The popular perception is that a great deal of corruption arises from large contributions to candidates and political parties or from certain types of expenditures on behalf of those parties and candidates (Persily Lammie, 2004). Sixty five percent of Americans believe that campaign contributions by special interest groups result in Member of Congress giving the contributor’s opinion special consideration because of the contribution (Smith, 2013). Figure 1 depicts the trend that as the presence and activity of interest groups increases so does public perception that government officia ls are crooked (Persily Lammie, 2004), thus conveying the idea that American’s believe Congress is beholden to special interest. Figure 1: Trends in Public Opinion of Government (1958-2002) Similarly, journalist have argued that campaign contributions contribute to the overrepresentation of special interest in Congress at the expense of the interest of unorganized citizens (Choate, 1990; Clawson, 1992; Curtis, 1990; Drew, 1983; Smith, 1990). However, according to several scholars popular opinion and the evidence that is presented by journalist in support of claims that campaign contributions impact Congressional policy making is seriously flawed (Smith, 1995; Souraf, 1992). As stated by Richard Smith (1995), Souraf (1992) and Edsall the research presented by journalist consists of various stories, interviews with lobbyist and members of Congress and correlation studies that do not present a causal relationship between the campaign contributions of interest groups and congressional decision making (Smith, 1995). In other words, a significant correlation between money and votes does not justify the conclusion that money buys votes and journalist failed to provide substantive evidence that suggest members of Congress would’ve voted differently if it were not for the contributions of interest groups (Thomas Stratmann, 2000). In fact, according to several sources, when you aggregate the research the work of scholars seems to suggest that the campaign contributions of special interest groups exert far less influence over Congress than commonly thought. However because there is less consensus amongst the academic community it is difficult to formulate a firm and concise conclusion. Moreover, this lack of academic consensus has led to a wealth of literature filled with conflicting results. Consider first the works concerning how campaign contributions effect roll call voting behavior on the House and Senate floor. On one hand you have various scholars asserting that campaign contributions by interest groups do marginally impact congressional roll-call voting behavior. For instance , a study conducted by Fleisher (1993) that analyzed how PAC contributions from defense contractors influence member’s votes for pro-defense positions on the floor showed that PAC contributions do in fact have an effect on the roll-call voting behavior of members of Congress (Fleisher, 1993). Similarly studies conducted by Stratmann (1991), Durden, Shogren and Silberman (1991) and Langbein and Lotwis (1990) all show that there’s a causal relationship between the campaign contributions of interest groups and congressional voting behavior. However, at the other end of the spectrum you have scholars asserting the exact opposite. Scholars Chappell (1982), Grenzke (1989), and Rothenberg (1990) all report views that suggest there is no statistically significant relationship between campaign contributions and members of Congress’ roll-call voting. However, between the two extremes lies research that purports mixed results. According to observations of Richard Smith several scholars including: Kau and Rubin (1981, 1982), Neustadl (1990) and Langbein (1993) all purport an array of results. The study conducted by Laura Langbein concludes that campaign contributions are effective primarily when the group’s ideology is consistent with the members underlying ideology and constituency. Another study conducted by Neustadl reports that the effectiveness of interest group contributions varies by the saliency of the issue. This lack of academic consensus is visible whether one looks at the House or the senate and whether one analyzes single votes or a string of votes. So how does one overcome these discrepancies in findings? In this study I will critically analyze the research as a whole and conduct a content analysis to look for areas in which there is academic consensus and determine the conditions under which, according to scholars, campaign contributions by interest groups have the most influence on the voting behavior of members of Congress. Data and Methods To examine the influence of campaign contributions by interest groups on the decisions of individual member of the U.S. Congress I will analyze†¦x amount of sources and conduct a content analysis. A content analysis is especially appropriate for this study because it will enable me to identify common themes throughout the literature and shed light on the areas in which interest group campaign contributions can influence the decisions of individual members of Congress. References Berry, Jeffrey M. Citizen Groups And The Changing Nature Of Interest Group Politics In America. Annals Of The American Academy Of Political And Social Science (1993): 30. JSTOR Arts Sciences VII. Web. 9 Feb. 2014. Chappell Jr., Henry W. Campaign Contributions And Voting On The Cargo Preference Bill: A Comparison Of Simultaneous Models.Public Choice36.2 (1981): 301-312.Business Source Complete. Web. 12 Mar. 2014. Fleisher, Richard. PAC Contributions And Congressional Voting On National Defense.Legislative Studies Quarterly18.3 (1993): 391-409.Political Science Complete. Web. 12 Mar. 2014. Fordham, Benjamin O., and Timothy J. McKeown. Selection And Influence: Interest Groups And Congressional Voting On Trade Policy. International Organization 57.3 (2003): 519-549. PsycINFO. Web. 9 Feb. 2014. Kasniunas, Nina Therese. The Influence Of Interest Groups On Policy-Making In Congress. Conference Papers Midwestern Political Science Association (2007): 1-31. Political Science Complete. Web. 9 Feb. 2014. Langbein, Laura I. Pacs, Lobbies And Political Conflict: The Case Of Gun Control.Public Choice77.3 (1993): 551-572.Business Source Complete. Web. 12 Mar. 2014. Neustadtl, Alan. Interest-Group Pacsmanship: An Analysis Of Campaign Contributions, Issue Visibility And Legislative Impact.Social Forces69.2 (1990): 549-564.Business Source Complete. Web. 12 Mar. 2014 Persily, Nathaniel, and Kelli Lammie. Perceptions Of Corruption And Campaign Finance: When Public Opinion Determines Constitutional Law.University Of Pennsylvania Law Review153.1 (2004): 119-180.Index to Legal Periodicals Books Full Text (H.W. Wilson). Web. 12 Mar. 2014. Rubenzer, Trevor. Campaign Contributions And U.S. Foreign Policy Outcomes: An Analysis Of Cuban-American And Armenian-American Interests. Conference Papers International Studies Association (2008): 1-48. Political Science Complete. Web. 9 Feb. 2014. Stratmann, Thomas. Can Special Interests Buy Congressional Votes? Evidence From Financial Services Legislation. Conference Papers American Political Science Association (2002): 1. Political Science Complete. Web. 12 Feb. 2014. Welch II, William M. The Federal Bribery Statute And Special Interest Campaign Contributions.Journal Of Criminal Law Criminology79.4 (1989): 1347-1373.Political Science Complete. Web. 12 Mar. 2014.

Communication Traits of Happy Couples Essay -- Relationships

There are couples who are happy and there are those who are not. The success rate of marriages in America has fallen; fifty percent of all marriages will not make it to the end. Fifty percent of all marriages today, who enter into a â€Å"lifelong† commitment, will end in divorce. In search of a solution and an explanation researchers have turned to look at couples who are happy and those who are not, through all stages of a relationship. They have found that many of the traits that begin in a dating relationship will carry over into a marriage. Researchers have turned to the ways in which these happy couples communicate and the ways that not so happy couples communicate in order to find a common thread between couples who stay committed to one another while being satisfied in the relationship. There are communicative traits practiced by these couples who are happy. Those traits include but are not limited to successful conflict resolution, communicative responses to situati ons which threaten your relationship, the use of rituals to build relational quality and intimacy, the role of affection in relational satisfaction. There is a correlation between successful conflict resolution and relational satisfaction in a relationship. It is important to note that not only is it important for conflicts to be resolved in a relationship but the way in which those conflicts are handled has a direct effect on the satisfaction and the success of the relationship or the marriage. It often times is not the subject matter of the fight which affects the relationship the most, it is the way in which the conflict is handled, â€Å"How couples argue and disagree about issues appears to be more consequential to the success of a marriage than what they ar... ...d and Dating Relationships,† 256. Kennedy-Lightsey, Booth-Butterfield, â€Å"Responses to Jealousy Situations That Evoke Uncertainty in Married and Dating Relationships,† 256. Kennedy-Lightsey, Booth-Butterfield, â€Å"Responses to Jealousy Situations That Evoke Uncertainty in Married and Dating Relationships,† 256. Kennedy-Lightsey, Booth-Butterfield, â€Å"Responses to Jealousy Situations That Evoke Uncertainty in Married and Dating Relationships,† 258. Angela Hoppe-Nagao, Stella Ting-Toomey, â€Å"Relational Dialectics and Management Strategies in Marital Couples,† Southern Communication Journal 67 (2002): 151. Hoppe-Nagao, Ting-Toomey, â€Å"Relational Dialectics and Management Strategies in Marital Couples,† 151. Kory Floyd, â€Å"Human Affection Exchange: V. Attributes of the Highly Affectionate,† Communication Quarterly 50 (2002): 135.

EC Law :: essays research papers fc

EC LAW ASSIGNMENT Gary Slapper states  ¡Ã‚ °that ever since the UK joined the European Community it has progressively, but effectively passed the the power to create laws which have effect in this country to the wider European institutions such ¡Ã‚ ±(Slapper`99 P.33) So in all practical terms the UK`s legislative, executive and judiciary ¡Ã‚ ¯s powers are in the main controlled by and operated within the framework of the European community laws. The increasing importance of Uk judges to consider the issues and principles of EC Law is clearly evident now as regards such issues as human rights and employment rights. National Judges must consider the practical realities that they must abide by EC rules regarding four areas of 1. Direct Applicability,2.Direct Effect and that3.EC Law following the case of Costa v Enel (1964) prevails over the national laws of each member state. Lastly 4. that in coming to a decision the National judge has the option to request a preliminary hearing under Art.177 from the European judiciary on a national legal dispute. It is these four areas that must be looked at in by the national judge when they are considering a case. With the fact that regulations are directly applicable under Art.189EC to all member states and that the UK has adopted the Monist stance (i.e. Community Law automatically becomes UK law) then judges have little option in some areas of law, but to follow Ec laws/Treaties. This comes via the European Communities Act 1972(S.2) and is affirmed in Ec case law 34/73 Variola 1973.National judges must also consider that Ec directives are part of domestic law and thus have legal existence even before their confirmation into national law. National judges must also consider that Ec Law regarding matters that come before the domestic courts is also Directly Effective (involving treaties) and it enforces rights and duties for Ec nationals, which can be enforced in domestic courts. This was established in the landmark case of Van Gend en Loos 1963.The National judge  ¡Ã‚ °has to apply community law in the absence or in place of national law then a provision of such community law must to all intents and purposes be unconditional, clear and precise to form part of Uk law ¡Ã‚ ±. Kaczorowaska`98 P275 .The National judge has the ability to use discretion in the form and implementation procedure. Indeed with the concept of indirect horizontal direct then domestic judges are required to interpret their law in line with that of the community which basically emphasises the supremacy of Ec law as seen in Von Colson and Kaman 1984.

Special ed is not a Scandal Essay -- essays papers

Special ed is not a Scandal Special Education Is Not A Scandal Article #33 I think the biggest most important law having to due with education and the general public is PL 94-142. It is because of this laws effect on the school system and the impact that it left in the history of special education that I chose to write about it. Implemented in the 1970’s PL 94-142 is responsible for a change in which all handicapped children are entitled to a free appropriate public education (FAPE), a change that gave the disabled a fighting chance towards education in a world that was very discriminating. This law was amended in 1983, 1986 and reauthorized in 1990 ensuring that every child receives an individualized appropriate education in the least restrictive environment at no cost to the parents. Although PL 94-142 is a great law and has protected many Americans since it first went into effect in 1975 times were not always so good. In the early days of education it was not uncommon for the mentally challenged to be sent home from school denied their right to learn. Parents would have to find alternative methods or institutions for their child’s learning and usually pay a hefty price for what should of come for free. However, a steady line of law suites continually bombarded local states. Famous cases like Mills v. Board of Education of the District of Columbia, and Pennsylvania Association for Retarded Children v. Commonwealth of Pennsylvania set the way for transition in...

Single Parents

Tony Lowery February 26, 13 1St Block Shakespearian Theatre (Globe) The Shakespearian globe was built in 1599 In Southwark on the South bank of London’s River Thames by Richard Burbage. The globe was built large, round and open aired. There was a roof around the circumference which covered the seating area, leaving the theatre looking like a doughnut from above. Old wood from â€Å"The Theatre â€Å"created by Richard Burbage was re-used to make the globe. The globe held up to 3,000 spectators and sold out and awful lot.Shake spears plays were so good at the base of the stage there was a place called â€Å"The Pit† which was on the ground. In order to get in the pit you would have to pay a penny and you stand to watch the play. Shake spear was a shareholder who owned 12. 5% of the Globe theatre. As a young writer Shakespeare bought shares in the theatre and benefited financially as his popularity grew. In order for you to identify what type of play was going on that d ay there were color coded flags used Red= History play, White=Comedy, and Black=Tragedy.Right above the main entrance you would see a banner known as the motto that read: â€Å"Totus mundus agit histrionem† –which is Latin for â€Å"The whole world is a playhouse†. When the globe 1st opened there were no actresses so all female roles were played by young boys as theatre stages were considered too risque a place for ladies. During the play Henry VIII there was a canon being used but not the correct way, and because it wasn’t used the right way it set fire to the roof and the fire quickly spread, reportedly taking less than two hours to burn down completely. After burning down in 1613 The Globe Theatre was rebuilt on the same spot in 1614.The Puritans brought an end to The Globe Theatre in 1642 with an order suppressing all stage plays. In 1644 The Globe Theatre was turned into tenement housing, ending 85 years of turbulent history. The Globe was generally considered to be a circular building, however when a small part of the theatre’s foundations were uncovered the late 1980’s it seems that the building was actually a polygon of 20  sides. In 1997 a third version and faithful reconstruction of The Globe Theatre was built as â€Å"Shakespeare’s Globe Theatre†, close to the original site in Southwark.

Human Resources Management †Downsizing Essay

I. Introduction In this era of globalisation, where the competition in the market has become drastic, human capital is deemed to be the most important factor to the integration as well as strategy of enterprises among any other factors (Waddel, Cummings, & Worley, 2007). Since retaining and sustaining workforce is undeniably crucial to corporate integration, learning the trend and comprehending the will of employees is crucial to any enterprise’s survival. Taking scenario in Australia, the authors’ objective in this article is to emphasize the importance of older workers’ contributions to workplaces and employers are suggested unbiasedly re-adjusting their attitude and policies in order to effectively utilise the productivity of older workers. II. Article Analysis a. Researches Methodology In this article, secondary researches e.g. surveys, researches from others’ studies†¦ were used primarily. In terms of quantitative researches, the article mainly gathered data from Australian Bureau of Statistics (ABS); Department of Education, Employment and Workplace Relations (DEEWR); and Organisation for Economic Co-operation and Development (OECD). Its data validity can be strongly substantiated as both ABS and DEEWR are under the management of Australian government; and OECD is also a renowned international economic organisation which promotes economy and social well-being of people globally. Hence, its information validity is also confirmed. Noticeably, authors also use their past studies as references, for example, their paper: â€Å"Retaining and Sustaining the Competence of Older Workers: An Australian Perspective†, written in 2009. This raises the question about the credibility of such reference. Moreover, several references seem to be out-dated, for ex ample, â€Å"Sociology† by Giddens in 1997, or the survey’s data of McIntosh’s paper in 2001. b. Significance of the Findings The findings in the article are relatively clear and straightforward, yet what they truly provide to readers are beyond mere facts. It is the broad knowledge that is provided allowing readers to come up with their own judgement about the issue. The article first presents the idea to readers that an increasing wave of older workers will be coming up in the future due to the shortage of young worker and the consequences of the financial crisis in the early 2008. It is true that because of such crisis, people’s superannuation is heavily affected and therefore even elders will very likely try to go back to the labour market and look for works (Bekaert & Hodrick, 2009). Nevertheless, what the authors aim to achieve is not only to present the trend to the readers, but to raise the employers’ awareness so that they do not look down to older workers as â€Å"last resorts† as they will very likely become a major workforce in the future. The authors claimed that older workers undoubtedly will become crucial to the Australia economy in the near future. Yet there is proof presented in the article that indicates the existence of the negativity of employers’ attitude toward older workers. This claim is also valid as according to a HR report from Thompson Reuters, a research was conducted and realized that only 25% of the number of employers being asked tried to convince Baby Boomers to stay back when they resigned, compared to 40% for Generation X and Generation Y (HR Report, 2008). On the other hand, the article also provides to readers a completely opposite proof which shows that employers hold no grudge against older workers. Such claim is also substantiated by an article by Forbes, in which, a survey of 500 hiring managers was conducted and resulted that 60% of hiring managers would likely to hire older workers, compared to 20% of those would hire Millenials, who were born just before the millennium, from 1981 through 2000 (Adams, 2012). III. Strength and Weakness/Limitation of the article c. The strength of the article Basically, the article targets readers who are working in Human Resources field. It has done its part by successfully conveying the idea to readers by using sets of well organised evidences and firm hypothesises. The article also proposed a rational strategy that, according to the authors, would not only help employers to not waste human capital, but also support the older employees’ employability by changing the attitude of employers in the workplace. The data and references used in the article were relevant to the discussed area. Each and every statement in the article is backed with credible sources; therefore it makes readers feel confident and safe when they acquire the knowledge from the article. On top of that, not only it provides evidences which support only its hypothesis, but also it provides evidences that are completely contradictory to its hypothesis, for example, the case in the study of McIntosh in 2001 where the attitude of employers toward older workers was n ot negative at all. This helps readers to have broader view and shows that the authors were unbiased when writing this article. d. Weakness and Limitation of the article Since the article was taking the scenario happening in Australia, its world-wide applicability is questionable. Although the article also uses some foreign data, for example, McIntosh’s research which was conducted with the U.S’s labour forces, it is still very limited. As mentioned, authors also used their part studies as references; hence, this raises questions about such sources’ credibility. Furthermore, the year which the article was written was 2011, yet there are a few references that were written a long time ago, â€Å"Sociology† written by Giddens in 1997 is an example. This also raises the question about the sources’ up-to-date applicability. One of its strong points turns out to be its weakness. Each and every statement in the article is backed up with a study; therefore it somewhat gives readers a feeling that very few ideas in the article were original. IV. Conclusion According to (Waddel, Cummings, & Worley, 2007), in the process of globalisation, it requires enterprises to constantly adapt and develop in the way that would maximize their intrinsic value. The article has shown readers the proof that older workers is one promising and valuable source of high-quality workforce, yet evidences show that a lot of employers are still age-biased. On that ground, it is recommended that employers should not take this matter lightly anymore. Instead, they are suggested starting to change their attitude toward the older worker, re-adjust the workplace’s policies in order to maximize and sustain the productivity of older workers. Based on the hypothesis and findings of the article above, linking to the case study â€Å"High Flyers†, even though Silvertail is trying to build a newer and younger image, it should not get rid of older cabin crew by persecuting and being harsh on them. Rather than that, Silvertail should approach more positively by looking at their actual performance, including their motivation, and then re-allocate the job for them so that the integration and strategy of the company would be aligned. According to (Adams, 2012), older workers are superior in many fields e.g. positive work ethic, problem solving, leadership, reliability, professionalism, etc†¦ Rather than wasting a good source of human capital, using it wisely is always optimal. Bibliography (n.d.). Retrieved December 20, 2012, from http://deewr.gov.au/ (n.d.). Retrieved December 20, 2012, from http://www.oecd.org/ Australian Bureau of Statistics: About Us. (2012, November 13). Retrieved December 14, 2012, from Australian Bureau of Statistics: http://abs.gov.au/websitedbs/D3310114.nsf/Home/About+Us?opendocument#from-banner=GT Adams, S. (2012, September 9). Older Workers, There’s Hope: Study Finds Employers Like You Better Than Millennials. Retrieved December 13, 2012, from Forbes: http://www.forbes.com/sites/susanadams/2012/09/24/older-workers-theres-hope-study-finds-employers-like-you-better-than-millennials/ Bekaert, G., & Hodrick, R. (2009). Internation Financial Management. Boston: Peason. HR Report. (2008, September 17). Employers ‘ignoring’ older workers. Retrieved December 15, 2012, from Thompson Reuters: http://sites.thomsonreuters.com.au/workplace/2008/09/17/employers-ignoring-older-workers/ Manpower Research and Statistics Department. (2007) . A Statistical Profile of Older Workers. Singapore: Ministry of Manpower. Waddel, D., Cummings, T. G., & Worley, C. G. (2007). Organisation Development and Change. Asia Pacific. (3rd ed.). South Melbourne, Victoria, Australia: Cengage Learning Australia.

Internship Report on Banking Business Activities of Mercantile Bank Limited, Satmasjid Road Branch Dhaka.

Internship Report On BANKING BUSINESS ACTIVITIES OF MERCANTILE BANK LIMITED, SATMASJID ROAD BRANCH DHAKA. [pic] Submission Date: 15th November, 2009 Prepared for: Prof. Md. Ashraf Hossain Dean, School Of Business Asian University of Bangladesh Dhanmondi Complex House 36, Road 27 (Old), 16 (New) Dhanmondi R/A, Dhaka-1209 [pic] Prepared By: JOBYDA JESMIN ID: 200521050 Batch: 24th Section: Finance Program: BBA Dhanmondi Complex Asian University of Bangladesh Letter of Transmittal 15th November, 2009 Prof. Md. Ashraf Hossain Dean, School of Business Asian University of Bangladesh Subject: Submission of Internship Report. Sir, It’s my great pleasure to submit the Internship report titled â€Å"Banking Business Activities of Mercantile Bank Limited† that you have asked me to prepare as a partial fulfillment of my graduation. I have tried my best during three months working period to follow the instruction of you in preparing this report. Throughout the report I tried to demonstrate the available services matter of this branch of Mercantile Bank Limited. Finally, I would like to thank you for your valuable guidance and advice for preparing this report. I thereby strongly hope and believe that you would be kind enough to accept this report and give me a pleasure to be obliged. Thanking for your time and reviews. Sincerely Yours, JOBYDA JESMIN ID: 200521050 Batch: 24th Section: Finance Program: BBA Dhanmondi Complex Asian University of Bangladesh Acknowledgement First of all I would like to express my deep gratitude to the almighty Allah for preparing this internship report successfully. Internship is the part of the Bachelor of Business Administration (B. B. A. ) program that provides on the job experience for the students. The students get chance to work closely with the people of the organization and learn about the functions, responsibility and the environment of the organization. The internship program enables a student to develop their analytical skills and scholastic aptitudes and to have a real-life orientation of the academic knowledge. I express my deep gratefulness to Mr. Md. Sadruzzaman, Executive Vice President, for his kind permission to allow me for three months practical orientation in Mercantile Bank. My special gratitude goes to Mr. Shamim Ahmed, Senior Vice-President & Manager of Mercantile Bank Ltd, Satmasjid Road Branch, for his modern outlook and meticulous supervision to carry out the job perfectly. I am very grateful to Mr. Mamun Hossain, Executive Officer, for helping me a lot. Moreover I am very much thankful to my internship in-charge in various departments and all the officers of Mercantile Bank Ltd of Satmasjid Road Branch for helping me very much although having their busyness. Without their help and friendly cooperation it could be very much difficult for me to complete the report in time. So again I want to express my gratitude to all of them. Acronyms |MBL |= |Mercantile Bank Ltd. | |AD |= |Authorize Dealer | |PO |= |Pay Order | |A/C |= |Account | |CDS |= |Central Depository System | |DD |= |Demand Draft |ERC |= |Export Registration Certificate | |FDBC |= |Foreign Documentary Bills For Collection | |OBC |= |Outward Bills for collection | |IBC |= |Inward Bills for Collection | |GDP |= |Gross Domestic Product | |TT |= |Telegraphy Transfer | |L/C |= |Letter Of Credit | |BR |= |Bankers Report | |IBCA |= |Inter branch credit advice | |IBDA |= |Inter Branch Debit Advice | |IMF |= |International Monitory Fund | |IRC |= |Import Registration Certificate | |KYC |= |Know Your Customer | |CCI & E |= |Chief Controller Of Import & Export | |LDBP |= |Local Documentary Bills Purchases | |FC |= |Foreign Currency | |TIN |= |Tax Identification Number | |LCAF |= |Letter of Credit Authorization Form | |BTB |= |Back to Back | |FDBC |= |Foreign Document Bill Collection | |SWIFT | = |Society For Worldwide Inter Bank Financial Telecommunication | |FDBP |= |Foreign Documentary Bill Purchased | Executive Summery This is an internship report based on the internship program took place in Mercantile Bank Ltd, Satmasjid Road Branch, The main objective of this report is to analyze the Banking Business Activities and performance of Mercantile Bank Ltd. I got only three months to gather practical knowledge from this branch, although it was too difficult to gather maximum and proper knowledge within this short range of time. There is a great supportive role of banking system in human society. It plays a vital role for the economic development of a country. Banks are financial-service firms, producing and selling professional management of the public's funds as well as performing many other roles in the economy. The study was to analyze Banking Business Activities of Mercantile Bank Ltd, Satmasjid Road Branch especially: ? General banking ? Foreign Exchange and remittance Credit & Advance department Firstly, I worked for one month in General Banking. During this period I tried my best to cover most o f the basic stuffs. Clearing section was important part to focus on. There were other sections such as Account opening section, Computer section, Cash counter section. Second month I worked in the Loan and Advance sector. And I tried my best to understand what to deal about, what to think about when approaching for any loan proposal. In the final days, I was in Foreign Exchange department. There I was involved in learning the Import LC, Export LC, the operation of back to back LC, Lodgment & settlement of LC, IBP & FBP etc. Most of all I tried heart & soul to present all that I have learnt & thought to be comprehensive to me. Though a short time I got to be introduced with all the activities of bank but I tried my best to give full of me in the practical orientation in bank as well as in the report writing. TABLE OF CONTENTS Chapter One Introduction Page No. 1. 1 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 11 1. 2 Background of the Study†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦.. 12 1. 3 Rational of the Report†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦. 12 1. 4 Object ives of the Report †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 1. 5 Methodology †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 14 1. 6 Scope of the report †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 15 1. 7 Limitations of the Study†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 Chapter Two Overview of Mercantile Bank Ltd. 2. 1 Banking sector in Bangladesh †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦17 2. 2 Historical background of MBL †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 18 2. 3 Vision Mission & objectives of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦20 2. 4 Core values†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 21 2. 5 Management aspect of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 22 2. 6 Divisional aspect of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 23 2. 7 Branch Network†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 24 2. 8 Information about the Satmasjid Road Branch†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 26 2. 9 Financial Performance of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 27 2. 10 Nature of Business†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦28 2. 1 Financial Products and Services of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 29 2. 12 Credit Policy of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 33 Chapter Three General Banking Activities 3. 1 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 35 3. 2 Account Opening†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 36 3. 3 Different Types of Scheme and Features†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 39 3. 4 Cash Department†¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦45 3. 5 Clearing House†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 46 3. 6 Issuing PO, DD, TT †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 47 3. 7 Dispatch†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 3. 8 Issuing Cheque†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 48 3. 9 Closing of an Account†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦49 Chapter Four Foreign Exchange Department 4. 1 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 52 4. 3 Letter of Credit (L/C) †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 53 4. 4 Parties to Letter of Credit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 54 4. 5 Import Procedures†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 57 4. 6 Requirements of an importer to open an L/C †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 58 4. 7 Lodgment of Import Document†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 62 4. 8 Export Section†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 65 4. Back to Back L/C †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 66 4. 10 Documents required for opening a Back to back L/C†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 66 4. 11 Foreign Remittance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 67 4. 12 Foreign Correspondent Bank†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 68 TABLE OF CONTENTS Chapter Five Credit DepartmentPage No. 5. 1 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 72 5. 2 Importance of Credit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦.. 73 5. 3 Forms of Advances†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦ 74 5. 4 Process of loan sanction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 75 5. 5 Different types of loan and interest rates†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦.. 78 5. 6 Types of Credit Scheme made by the MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦.. 79 5. Loan categori es and their Features†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦.. 83 . 5. 8 Credit Policy of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦94 5. 9 Credit Risk Management of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦. 95 5. 10 Credit Risk Grading†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦97 5. 11 Mechanism of Credit Distribution of the MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 101 5. 12 Necessary Documents for Loan Settlement†¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 103 5. 13 Credit Recovery of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 104 Chapter Six Others Services of MBL 6. 1 Cards of MBL†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦108 6. 2 Online Banking†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦109 6. 3 SMS Banking services†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. .. 110 6. 4 SME Service Centre†¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ 10 6. 5 MBL Brokerage House†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦111 Chapter Seven Conclusion 7. 1 Findings†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦ 113 7. 2 Recommendation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦ 114 7. 3 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦119 7. 4 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ 120 [pic] Chapter: 01 INTRODUCTION 1. 1 Introduction 1. 2 Background of the study 1. 3 Rationale of the report: 1. 4Objectives of the Report 1. 5Methodology 1. 6Scope of the report 1. 7Limitations of the study 1. 1: Introduction Internship is a temporary work program in which a student can gain supervised practical experience in a particular professional field. It is the period of time during which a novice in a field serves in a subordinate capacity and continues to gain experience; the learning period before one becomes an expert. Practical Knowledge is highly needed to match with the theoretical idea and knowledge. Banking industries are the best organization to practice the theoretical knowledge. This sector plays very important role in the economic life of the nation. The health of the economy is closely related to the soundness of its banking system. Although banks create no new wealth but their borrowing, lending and related activities facilitate the process of production, distribution, exchange and consumption of wealth. In this way they become very effective partners in the process of economic development. Within our country there are government banks, semi government banks, private sector commercial banks of Bangladesh and also it is the second-generation private bank in Bangladesh. It started its important moment when Bangladesh economy was undergoing through massive economy reforms and pursing unilateral and multilateral trade liberalization with the backdrop of the World Bank made international Monitory Fund *IMF* recommendation. This Mercantile Bank Ltd with its 42 Branches in Manipulate location of the country providing the best quality services to the clients and customers. For the duration of my 3 months internship period from 1st July to 8th October , 2009 in Mercantile Bank Ltd. Those types of experiences I have acquired these are bring together to formulate this report. 1. 2. Background of the study: Banks play an important role in the business sector and promoting industrialization and economic development of a country. Banks provide necessary funds for executing various programs underway in the process of economic development. This paper is entitled â€Å"Overall Banking Activities of Mercantile Bank Limited† originated from the fulfillment of the internship program. I have selected this topic to have insight knowledge about the Activities of Mercantile Bank Limited and to get an idea about the various types of deposit, loan which are mostly provided. This study will also give me a vague idea about the rules and regulations of providing loan, loan recovery and overall lending functions of a commercial bank. After three months of internship period I am supposed to prepare this report revealing findings, knowledge as well as experience gathered during internship period. 1. 3. Rationale of the report: Knowledge and learning become perfect when it is associated with theory and practice. Theoretical knowledge gets its perfection with practical application. As our educational system predominantly text based, inclusion practical orientation program, as an academic component is as exception to the norm. As the parties, educational institution and the organization substantially benefit from such a program, it seems a â€Å"win-win situation†. It establishes contracts and networking contracts. Contracts may help to get a job. That is, students can train and prepare themselves for the job market. A poor country like Bangladesh has an overwhelming number of unemployed educated graduates. As they have no internship experience they have not been able to gain normal professional experience of establish networking system, which is important in getting a job. Recognizing the importance of practical experience, an opportunity is offered by Asian University of Bangladesh for ts potential business graduates to get three months practical experience, which is known is as â€Å"Internship Program†. For the competition of this internship program, the author of the study was placed in a bank namely, â€Å"Mercantile Bank Limited†. Internship Program brings a student closer to th e real life situation and thereby helps to launch a career with some prior experience. 1. 4. Objectives of the Report: ? Broad Objective The study was conducted to make a review and analysis of the activities of MBL which include General banking, Credit Department and Foreign Exchange Sector. This paper attempts to discuss overall activities of MBL prescribed so far by Bangladesh Bank with a view to ensuring financial soundness of the banking sector. The purpose was also to make recommendations for improving the quality and soundness of those processes for consideration of the bank management. ? Specific Objectives: The specific objectives of this study are as follows: †¢ To present an over view of MBL. †¢ To know about the area of general Banking. †¢ To analysis the Lending procedures maintained by MBL. †¢ To observe principal Lending activities of MBL. †¢ To evaluate Lending performance of MBL. †¢ To know Foreign Exchange operations of MBL. †¢ To recommend suggestions for the successful Banking Operations of MBL. 1. 5. Methodology: For teaming up the data & information collected through primary & secondary sources, I have used both qualitative & quantitative method. During my study I followed some methodology to find out the fact & feature of the Bank which are given as follows: (A) Area of study: My project is the overall activities of MBL with reference to Saatmasjid Road Branch, Dhaka. In order to carry out the research work, I focused on taking the interviews of the Personnel involved in the different departments, Manager and Senior Level Employees, Business Clients and Account Holders and Particular departmental heads. (B) Sources of data/information: I have collected my information/data from the following sources, which helped me to make this report. The source has divided by two parts. Such as, 01. Primary source 02. Secondary source Primary sources: Many of the data and information were collected from my practical experience and queries from the executives and from related instruments while doing my internship at MBL. Secondary sources: Secondary data are collected basically from observation & collection from Journals, Brochures, Annual Reports, Paper, Magazines, Publications, Books and others form of publications as well as websites. Different statistical tools like mean, frequency distribution, tabular and graphical presentation are used to analyze data. 1. 6. Scope of the report: In this report I tried to describe overall banking performance. This report is a descriptive study which tries to focus on the theories and practices of banking activities in the context of the financial institutions in Bangladesh. It will not focus on the comparable practices of other banks. The study has covered a curtail idea on MBL, operational scenario of three departments of Mercantile Bank Limited, Saatmasjid Road Branch. Mentioning that, operations of three departments are closely related to each department’s activity as well. This will eventually refer that how the bank help the customers securing their cash and assets, getting credit facility, repaying loan amount and bank’s regulatory compliance ,lending policy etc. Overall banking system for gathering experience, my scheduled time was divided in various departments, such as: Department |Days | |General Banking |25 | |Clearing |15 | |Investment & Credit |25 | |Foreign Exchange Division |25 | 1. 7. Limitations of the study: In conducting the study, some problems were cre ated which may be termed as limitations of the study. They are as follows: †¢ The study does not cover critical analysis and implementations of comparative study in an intensive manner. †¢ During my internship program up to date information was not published. †¢ Relevant papers and documents were not available sufficiently. The time of this study was very inadequate to obtain depth knowledge in every department. †¢ The bank officials though helpful in every respect do not have much time to explain the internal procedures. †¢ Another limitation of this report is Bank’s policy of not disclosing some data and information for obvious reason, which could be very much useful. †¢ This study completely depended on official records and annual reports. †¢ Sufficient record, publications, facts and figures were not available, these constraints narrowed the scope of accurate analysis. †¢ This report is restricted only to Mercantile Bank Ltd. [pic] Chapter: 02 Overview of Mercantile Bank Ltd. 2. 1. Banking sector in Bangladesh 2. 2. Historical Background of MBL: 2. 3. Vision, Mission and objectives of the bank: 2. 4. Core values 2. 5. Management aspect of MBL 2. 6. Divisional aspect of MBL: 2. 7. Branch Network 2. 8: Information about the Satmasjid Road Branch. 2. 9:Financial Performance of MBL 2. 10Nature of Business 2. 11. Financial products and services of MBL: 2. 12 Credit Policy of MBL 2. 1. Banking sector in Bangladesh: Banking system occupies an important place in an economy. A banking institution is indispensable in modern society. It plays a liberalization of economics policies in Bangladesh. Certainly banks can be identified by the functions they perform in the economy. Banks act as financial intermediary by transferring funds from savers to borrowers and in paying for goods and services. In 1971, Bangladesh, was East Pakistan, emerged as an independent country. In immediately nationalized the entire Banks expanding 3 Foreign Banks, six Nationalize Banks were thus formed. In 1983 a new policy was implemented allowing private sector participation in the industrialization. As a part of this process, two national commercial Banks were against denationalization and a number of Private Commercial Banks were allowed to operate. Among these Pubali Bank and Uttara Bank were the first to be decentralized. |Particulars Number of Banks | |Nationalized commercial Bank |04 | |Privatized commercial Bank |30 | |Specialize Bank |05 | |Foreign Bank |10 | |Co- Operative Bank |01 | |Grameen Bank |01 | |Total = |51 | Table 1: Schedule Banks in Bangladesh. 2. 2. Historical Background of MBL: Mercantile Bank Limited emerged as a new commercial bank to provide efficie nt banking services and to contribute socio-economic development of the country. The Bank commenced its operation on June 2, 1999. The Bank provides a broad range of financial services to its customers and corporate clients. The Board of Directors consists of eminent personalities from the realm of commerce and industries of the country. Mercantile Bank Ltd (MBL) was incorporated in Bangladesh as a Public Company, Limited by shares under the Companies Act 1994 as on May 20, 1999 and subsequently obtained Banking Operation License from Bangladesh Bank under the Bank Companies Act 1991 and commenced commercial operation on 02 June 1999 to provide efficient banking services and to contribute socio-economic development of the country. The bank has 42 branches and 3 SME service center. It has listed in the Stock Exchanges at Dhaka and Chittagong in 2003 and 2004 respectively. The Founder of MBL is committed to make it a little more different and a bit special qualitatively. This bank has new vision to fulfill and a new goal to achieve. The bank has been manned with talented and experienced personnel equipped with most modern technology so as to make it most efficient to meet the needs of 21st century. The Head Office of the Bank situated at 61, Dilkusha commercial Area, Dhaka. The Board of Directors consists of eminent personalities from the realm of commerce and industries of the country. The Authorized Capital of the Bank is Tk. 3000 million and the Paid -up Capital is Tk. 1798. 68 million. The Bank provides a broad range of financial services to its customers and corporate clients It has a large asset position comprising of Tk. 55928. 72 million in December 2008. [pic] 2. 3. Vision, Mission and objectives of the bank: Vision Would make finest corporate citizen Mission: Will become most caring, focused for equitable growth based on diversified deployment of resources, and nevertheless would remain healthy and gainfully profitable Bank. Objectives of Mercantile Bank: The objective of MBL is not only to earn profit but also to keep the social commitment and to ensure its co-operation to the persons of all level, to the businessman, industrialist – specially whom are engages in establishing large scale industry by consortium and the agro based export oriented medium and small scale industries by self inspiration. Strategic Objective: ? To achieve Economic Value Added (EVA) each year. ? To be market leader in product innovation. ? To be one of the top three financial institutions in Bangladesh in terms of cost efficiency. ? To be one of the top five financial institutions in Bangladesh in terms of market share in all significant market segments that the bank serve. Financial Objective: To achieve a return on shareholder’s equity of 20% or more, on average. 2. 4. Core values: For the Customers: providing with the caring services by being innovation in the development of new banking products and services. For the Shareholders: maximizing wealth of the bank. For The Employees: respecting worth dignity of individual employees devoting their energies for the progress of the bank. For the Community: strengthening the corporate values and taking environment and social risks and reward into account. INVESTORS INFORMATION: Investor can be informed about any information from Dhaka Stock Exchange Website and Bank’s website: †¢ www. dsebd. org †¢ www. mblbd. com 2. 5. Management aspect of MBL: The Board of Directors being at the highest level of organizational structure plays an important role on the policy formulation. The Board of Directors is not directly concern with day-to-day operation of Bank. They had delegated their authority to the Managing Director and CEO to look after the day-to-day affairs of the Bank. The Bank is running by an excellent management team under the direct supervision of a competent Board of Directors. The Board of Directors comprises total thirteen members, which is within the maximum limit as imposed by BPRD circular-12, dated April 26,2003of Bangladesh Bank, headed by the Chairman. Md. Abdul Jalil, is the present Chairman of the Board. The Managing Director (MD) and CEO head management team. Mr. Dewan Mujibur Rahman is the present Managing Director and CEO of MBL. The management hierarchy of Mercantile Bank Limited is given below: | Board of Directors | | Managing Director | | Additional Managing Director | | Deputy Managing Director | | Senior Executive Vice President | Executive Vice President | | Senior Vice President | | Vice President | | First Vice President | | Asst. Vice President | | First Asst. Vice President | |Senior Principal Officer | | Principal Officer | | Senior Officer | Officer | | Junior Officer | | Assistant Officer | Figure: The management hierarchy of MBL 2. 6. Divisional aspect of MBL: There are total fourteen divisions in the Head Office of MBL. List of various divisions of MBL is given below: | Audit and Inspection division | | Central Accounts Division | | | Credit Division | | Marketing, Development Banking Division | | General Services Division | |Human Resources Division | | International Division | | Information Technology Division | | Research Division | | Treasury Market Division | | Board Secretariat& Share Dept. | | Cost Control Dept. | Law & Recovery Dept. | | Card Cell | Fig: Divisions of MBL 2. 7. Branch Network: MBL is one of the 3rd generation commercial Bank in private sector of Bangladesh. The Bank within stipulation lay down by the Bank Company Act 1991 and directives as received from Bangladesh Bank from time to time provide all types of commercial Banking services. It has 42 branches all over the country and also enlisted the Dhaka and Chittagong stock exchange as publicly quoted company for its general class of share. |Bank's Name |Name of Region/Zone |No. f Branches | | |Dhaka |19 | | | | | | | | | | | | | |MERCANTILE BANK LIMITED | | | | |Gazipur |02 | | |Chittagong |06 | | |Sylhet |02 | | |Moulvibazar |01 | |Comilla |01 | | |Noakhali |01 | | |Bogra |01 | | |Rajshahi | 01 | | |Rangp ur |01 | | |Barisal |01 | | |Khulna |01 | | |Naogaon |02 | | |Cox’sbazar |01 | | |Feni |01 | | |Shariatpur |01 | | |Total Branches |42 | Table: Branches of MBL [pic] 2. 8: Information about the Satmasjid Road Branch: Address of Branch: Satmasjid Road Branch House: 735(old), 82/A (New) Road: 8/A (New), Satmasjid Road Dhanmondi, Dhaka-1205 e-mail:[email  protected] com Phone: 9139183, PABX: 8112463-4, 9141148 Fax: +88029139183 SWIFT: MBLB BD DH Opening Date: 1st November, 2004 as 22nd Branch of MBL. Number of Employees: 22 Name of Manager: Shamim Ahmed, Vice President & Head of Branch. Mercantile Bank has purchased the land and building of this Branch Last month where it operates. 2. 9: FINANCIAL PERFORMANCE OF MERCANTILE BANK LIMITED: (BDT in million) MERCANTILE BANK LIMITED AT A GLANCE: Particulars |2005 |2006 |2007 |2008 | |Authorized Capital |1,200. 00 |3,000. 00 |3,000. 00 |3,000. 00 | |Paid-up Capital |999. 27 |1,199. 12 |1,498. 90 |1,798. 68 | |Total Assets |28,890. 48 |37,159. 65 |44,940. 54 |55,928. 72 | |Deposits |25,087. 43 |33,332. 65 |39,348. 00 |49,538. 36 | |Loan & Advances |21,857. 05 |26,842. 14 |31,8 77. 86 |41,993. 5 | |Import |33,271. 90 |42,442. 80 |40,380. 10 |56,528. 80 | |Export |24,108. 57 |34,592. 10 |32,670. 10 |43,108. 50 | |Remittance |679. 10 |2,989. 10 |3,510. 40 |4,722. 90 | |Profit after tax |386. 83 |494. 22 |540. 50 |615. 88 | |No. Of Branches |28 |35 |41 |42 | |No. Of Employees |663 |879 |945 |1115 | |No. Of Foreign Correspondents |266 |306 |584 |586 | 2. 10. Nature of Business: The Bank engaged in all types of commercial Banking services within the stipulations laid down by Bank Companies Act 1991 and directives as received from Bangladesh Bank from time to time. All types of Commercial Banking Services are provided by the Bank within the stipulations laid down by Bank Companies Act. 1991 and directives as received from Bangladesh Bank from time to time. Commercial Banking is the core activity of Mercantile Bank Limited. The bank serves all type customers ranging from individuals to corporate bodies, both private and public. Mainly MBL collects deposit from the people at lower rate and invests the same to the people again at higher rate. And difference between lower rate of deposit and higher rate of investment is the earnings of the Bank. MBL mainly invests in industrial sector like short term, Middle term as well as long term for import of capital machineries, establish new industry and working capital assistances with this Bank play’s a significant role in Bangladesh economy. The functions of commercial banks are now wide and varied. However the unctions of commercial banks may broadly be classified into the following three categories: 1. General Banking 2. Credit and investment 3. Foreign Trade (Import, Export & Remittance) 2. 11. Financial products and services of MBL: The bank has launched a number of financial products and services since its inception. Among them the followings have attained wide acceptance among the people ? Various Deposit Schemes : ? Double Benefit Deposit Scheme (DBDS) ? Family Maintenance Deposit (FMD) ? Mashik Sanchaya Prokalpa (MSK) Or Monthly Savings Scheme (MSS) ? Quarterly Benefit Deposit Scheme ? 1. 5 Times Benefit Deposit Scheme ? Advance Benefit Deposit Scheme (ABDS) Or Agrim Munafa Amanat Prokolpo (AMAP). Deposit Schemes : Monthly Saving Scheme The prime objective of this scheme is to encourage the people to develop their habit of saving. Under this scheme, one can save a fixed amount of return every month and get a lucrative amount of return after five, eight or ten years. Family Maintenance Deposit Scheme Under this scheme, one can deposit a certain amount of money for five years and in return he/she will receive benefits on monthly basis. Benefit start right from the first month of opening an account under the scheme and continue up to five years. On maturity the principal amount will be paid back. Double Benefit Deposit Scheme Under this scheme, one can deposit a certain amount of money for a six year period. After six years, the deposit amount will be doubled. Quarterly Benefit Deposit Scheme Under the Quarterly Benefit Deposit Scheme, one can deposit for a period of three years and in return depositor will receive benefits on quarterly basis. Benefit starts right from the first quarter of opening an account under the scheme and continues up to three years. On maturity the principal amount will be paid back. 1. 5 Time Benefit Deposit Scheme Under the 1. 5 Times Benefit Deposit Scheme, one can deposit a certain amount of money for 42 months or three and half years. On maturity, the depositor will receive 1. 5 time of the deposited amount. Advance Benefit Deposit Scheme Under this Scheme, one can deposit a certain amount of money for two years. The depositor will receive the benefit on yearly basis. The benefit amount of first year will be received in advance at the time of deposit. On maturity, the depositor will get back the principal amount with the benefit amount of second year. ? Various Credit Schemes : ? Consumers Credit Scheme (CCS) ? Car Loan Scheme ? Doctors Credit Scheme ? Rural Development Scheme ? Lease Financing ? Personal Loan ? Small Loan Loan Products: Consumer Credit Scheme Consumers' Credit Scheme is one of the popular areas of collateral-free finance of the Bank. People with limited income can avail of credit facility to buy household goods including computer and other consumer durables. Small Loan Scheme This scheme has been designed especially for the businessmen who need credit facility for their business and can't provide tangible securities. Lease Finance This scheme has been designed to assist and encourage the genuine and capable entrepreneurs and professionals for acquiring capital machineries, medical equipments, computers, vehicle and other items. Flexibility and easier terms and conditions of this scheme have attracted the potential entrepreneurs to acquire equipments of production and services and repay gradually from earnings on the basis of ‘Pay as you earn'. Doctors' Credit Scheme Doctors' Credit Scheme is designed to facilitate financing to fresh medical graduates and established physicians to acquire medical equipments and set up clinics and hospitals. Rural Development Scheme Rural Development Scheme targeted for the rural people of the country to make them self-employed through financing various income-generating projects. This scheme is operated on group basis. Woman Entrepreneurs Development Scheme Women Entrepreneurs Development Scheme has been introduced to encourage women in doing business. Under this scheme, the Bank finances the small and cottage industry projects sponsored by women. SME Loan Scheme Small and Medium Enterprise (SME) Loan Scheme has been introduced to provide financial assistance to new or experienced entrepreneurs to invest in small and medium scale industries with a comparatively low rate of interest as the same is assisted by the Bangladesh Bank with refinancing facilities. Personal Loan Scheme Personal Loan Scheme has been introduced to extend credit facilities to cater the needs of low and middle-income group for any purpose. Government and semi-government officials, employees of autonomous bodies, banks and other financial organizations, multinational companies, reputed private organizations and teachers of recognized public and private schools, colleges and universities are eligible for this loan. Car Loan Scheme Car Loan Scheme has been introduced to enable middle-income people to purchase Cars/SUVs/Jeeps. Government and semi-government officials, employees of autonomous bodies, banks and other financial organizations, multinational companies, reputed private organizations, teachers of recognized public and private universities and businessmen are eligible for this loan. Home Loan Scheme To meet the growing need of housing for middle and lower-middle income people, MBL has introduced Home Loan Scheme. We also support the Bangladesh Bank's Home Loan Refinance Scheme. The Scheme boosts up the growth of housing sector. Such loan shall be available for purchase or construction of new apartments for self-residing purpose. Overseas Employment Loan Scheme Overseas Employment Loan Scheme is designed to facilitate the Bangladeshi youths seeking employment aboard but who are unable to meet the expenses to reach the workplace from their own sources. The ultimate objectives of the scheme is to promote skilled / semi-skilled manpower to different countries across the world as well as to provide support to Government Policy considering priority of this sector. By availing loan under this scheme, the active youths of middle and lower middle class can get overseas employment by avoiding borrowing from the illustrious class or village ‘mohajon' at a very high cost or selling their paternal properties. The scheme helps fetching foreign currency for the country as well as fulfill the Bank's commitment to encourage micro-lending for poverty alleviation, improve the quality of life and thereby contribute to socio-economic development of the country. ? Foreign Exchange Services: ? Export Finance ? Import Finance ? Inward Remittance ? Issue L/C ? Shipping Guarantee 2. 12. Credit Policy of MBL: MBL credit policy contains the views of total macro-economic development of the county as a whole by way of providing financial support to the Trade, Commerce and Industry. Throughout its credit operation Mercantile Bank Limited goes to very possible corners of the society. They are financing large and medium scale business house and industry. At the same time they also takes care entrepreneurs through its operation of lease financing and some micro credit, Small Loan scheme etc. As a part of its Credit Policy MBL through its credit operation maintains commitment for social welfare. The bank is coming up with a scheme where the under privileged children will be given financial support for education and self-employment. From operational aspects it is observed that as a matter of policy. i. Mercantile Bank Limited put emphasis on the customer i. e. the ‘Man’ and the Business not on the Security in selecting borrowers. ii. It takes of diversity in credit portfolio. iii. It takes care maintaining proper Mix of short, medium and ling term finance in its credit portfolio usually they do not go for long term Finance for a period not exceeding 5 years. iv. Charging of interest is flexible depending on insisting of the proposal and the customer [pic] Chapter: 03 General Banking Activities: 3. 1: Introduction 3. 2: Account Opening 3. 3: Different Types of Scheme and Features 3. : Cash Department 3. 5: Clearing House 3. 6: Issuing PO, DD, TT 3. 7: Dispatch 3. 8: Issuing cheque 3. 9: Closing of an Account 3. 1: Introduction: All business concerns earn a profit through selling either a product or service. A bank does not produce any tangible product to sell but does offer a variety of financial ser vices to customers. General banking is the starting point of all the banking operations. It is the department, which provides day-to- day services to the customers. Everyday it receives deposits from the customers and meets their demand for cash by honoring cheque. It opens new accounts, remit funds, issue bank draft and pay orders etc. Since bank is confined to provide the service everyday, general banking is also known as retail banking. This section provides the following services: †¢ Primary Information †¢ Account Opening †¢ Cheque Issuing †¢ Pay order Issuing †¢ Issuing Telegraphic Transfer (TT) †¢ Issuing Demand Draft (DD) †¢ Dispatch patch †¢ Clearing †¢ Cash department PRIMARY INFORMATION Customer gets primary information about the bank’s services from this section. Then they are sent the other section under their demanding services. 3. 2: ACCOUNT OPENING: There are different types of account as offered by MBL: i. Savings Account ii. Current account iii. STD (Short term deposit) iv. FDR (Fixed deposit receipt) v. MSS (Monthly saving scheme) SAVINGS ACCOUNT This account is basically offered those customers who want to save money at any time. Customer can save his/ her money according to his/ her declaration. The minimum amount of opening charge of savings ac count is TK. 1,000. But it should be mentioned that when customer want to close the tax is deducted from the interest and have to pay closing charge TK. 100. If want to transfer customer have to pay TK. 200 for transfer charge. †¢ Requirements: †¢ Form must be properly filled up †¢ Have a introducer who introduce the account holder †¢ Two copies of passport size photograph of account holder †¢ One copy of passport size photograph of nominee Have to fill up declaration form where must mention amount of each transaction and annual turnover †¢ Have to fill KYC (Know Your Customer) form, †¢ Have to submit National ID Card ( for all customer) †¢ Have to submit student ID Card (for student) †¢ Have to submit trade license (for business) †¢ Deed (for partnership) †¢ Have to submit TIN number †¢ Have to submit photocopy of passport. ? CURRENT ACCOUNT Current account mainly opened for the Companies and partnership firm. The amount o f this account’s transaction would be big. The requirements of opening this account are given below. †¢ Requirements: For Individual / Joint Account †¢ Two photographs of account holder. †¢ Identity (copy of passport, National ID card, Commissioner Certificate). †¢ Joint Declaration Form (For joint a/c only). Employee’s Certificate (in case of service holder). †¢ One photographs of nominee. For Limited Company: †¢ Copy of valid trade license. †¢ Copy of certificate of incorporation. †¢ Certified Copy of Memorandum of Associations and Articles of Associations. †¢ Up to Date List of Directors. †¢ Board Resolution Regarding Opening and Operations of Bank Account With Mercantile Bank Limited †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Branch. †¢ (Resolution should be in accordance with the provision of Articles of Association of the Company. †¢ Copy of Certificate of Commencement of Business- for Public Limited Company Only. For Partnership Firms: †¢ Copy of valid trade license. †¢ Copy of Partnership Deed. Letter of Account Agreement (Partnership) Duly Signed by all The Partners in Their Personal Capacity. †¢ Letter of Partnership Duly Signed by All the Partners in Their Personal Capacity. Club / societies account †¢ Two photographs of each account holder. †¢ Board Resolution for Opening A/C duly certified by President/ Secretary. †¢ List of Existing Managing Committee. †¢ Registration (if any). †¢ Rubber Stamp. †¢ Permission letter from Bureau of N. G. O. (In case of N. G. O. A/C). ? SHORT TERM DEPOSIT(STD) This account is basically offered those customers who want to save money/ make transaction of a big amount at any time. The businessmen are mainly the customer of this account who makes huge amount transaction in a month. Customer can save his/ her money according to his/ her declaration. The minimum amount of opening charge of savings account is TK. 100,000. But it should be mentioned that when customer want to close, the tax is deducted from the interest and have to pay closing charge TK. 100. If want to transfer customer have to pay TK. 200 for transfer charge. Requirements: †¢ Form must be properly filled up †¢ Have a introducer who introduce the account holder †¢ Two copies of passport size photograph of account holder †¢ One copy of passport size photograph of nominee †¢ Have to fill up declaration form where must mention amount of each transaction and annual turnover †¢ Have to fill KYC (Know Your Customer) form, Have to submit National ID Card ( for all customer) †¢ Have to submit student ID Card (for student) †¢ Have to submit trade license (for business) †¢ Deed (for partnership) †¢ Have to submit TIN number †¢ Have to submit photocopy o f passport 3. 3:Different Types of Scheme and Features: ? MASHIK SHANCHOY SCHEME: The money is fixed up to a certain months or year. Bank gives them interest against this money. If customer doesn’t encashment his/ her fixed deposit at a time the amount is auto renewed and the interest is applied automatically at the account. |Amount |TK. 500 |TK. 1000 |TK. 1500 |TK. 2500 |TK. 000 | |Years | | | | | | |5 years |38250 |76500 |114750 |191250 |382500 | |8 years |71500 |143000 |214500 |357500 |715000 | |10 years |100000 |200000 |300000 |500000 |1000000 | ? DOUBLE BENEFIT SCHEME: Objectives: ? Give maximum benefit. ? Help in meeting specific needs like education, marriage etc. Deposit becomes double in seven and half years. Mode: Tenure of the deposit is 7. 5 years. Amount of DepositPeriod Amount Payable 1, 00,000 7. 5 Years 2, 00,000 Other Features: ? The Minimum amount of deposit is BDT 50,000. 00(Fifty thousand) or its multiples. ? All taxes/duty/levy and /or any other surcharge s presently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme. ? In case of premature encashment interest will be paid on Saving A/C Rate. ? Loan may be granted up to maximum 80% of the deposited amount but minimum principle amount must be BDT 20,000. 00. Loan processing fee be realized BDT 50. 00 only and usual stamp costs also be realized. For example: Initial amount is TK. 1000,000 The bank give interest TK. 100,000 against TK. 100,000 deposit Customer gets TK. 190,000 (200,000-100,[email  protected]% tax = TK. 190,000) Requirements: Form must be properly filled up, One copy of passport size photograph of account holder, One copy of passport size photograph of nominee, ? ADVANCED DEPOSIT SCHEME: Objectives: ? Get Extra benefit from Minimum Deposit. Mode: Maintained for a period of 2 (Two) years. Minimum deposit amount 1,00,000(One Lac) only. Interest Rate Per BDT One Lac : BDT 1 Lac (One Lac) , Tk. 9,500. 00 for first year Tk. ,09,250. 00 for second year. Other Features o All taxes/duty/levy and/or any other surcharges presently in force or that may be imposed by the government of Bangladesh from time to time in Deposit Accounts will also be applicable for the account for the account opened under this scheme and such taxes/duty/levy and/or any other surcharges shall be deducted/ recovered from the deposit account under this schemes. o Loan may be granted up to maximum 70% of deposit. ? Times Benefit Deposit Scheme Under the ‘1. 5 Times Benefit Deposit Scheme’ a deposit of minimum BDT 50,000. 00 (fifty thousand) or its multiples will be received for a period of 4. 2 years. On maturity, 1. 5 times of the deposited amount will be paid back to the account holder as per example given below: Example: Initial Deposit (BDT)50,000. 001, 00,000. 005, 00,000. 00 Return after 4. 2 years (BDT) 75,000. 00150000. 00 750000. 00 Other Features: ? All taxes/duty/levy and /or any other surcharges presently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme. ? In case of premature encashment interest will be paid on Saving A/C Rate. However, no interest shall be paid if premature encashment take place before expiry of 1 (one) year. In the event of death of the depositor before the maturity, the deposit account may be encased (premature) as per rule or may be continued up to maturity on written approach by the nominee(s). ? Loan may be granted up to maximum 80% of the deposited amount but minimum principle amount must be BDT 20,000. 00. ? Loan processing fee be real ized BDT 50. 00 only and usual stamp costs also be realized. ? FAMILY MAINTENANCE SCHEME Objectives: ? Help the retired persons for investing their retirement benefits. ? Create investment opportunities for Non-Resident Bangladeshi. ? Explore investment opportunities for school, college, university etc. ? Give investment opportunities for Trust; Foundation etc. Mode: Deposit a fixed amount of money for 05 (Five) years. Depositor will get a certain sum of money in each month proportion to his/her deposit during the entire tenure. Benefits: Tenure of deposit is 05 (Five) years. Minimum amount of required deposit is TK. 50,000. 00 or its multiple DepositMonthly Benefit (Amount in TK. ) 1, 00,000800 2, 00,0001, 600 3, 00,0002, 400 Other Features o The Minimum amount of deposit is BDT 50,000. 00 (Fifty thousand) or its multiples. o All taxes/duty/levy and /or any other surcharges persently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme. o In case of premature encashment interest will be paid on Saving A/C Rate. A saving account will be needed to be maintained to receive quarterly benefit payment. o Loan may be granted up to maximum 80% of the forced encashment value on the date of loan processing. During the period of continuation of loan, monthly benefits of FMD account will be credited only to loan account. o Loan processing fee be realized BDT 50. 00 only and stamp costs also be realized. ? QUARTERLY BENEFIT SCHEME The ‘Quarterly Benefit Deposit Scheme' will be maintained for a period of 3 (three) years and the minimum amount of deposit is BDT 50,000. 00 (fifty thousand) or its multiples. Interest will be paid on quarterly basis as per example given below. On maturity the principal amount will be paid back. Initial Deposit (BDT)TermQuarterly Benefit Payable (BDT) 50,000 3 Years 1,200 100,000 3 Years 2,400 200,000 3 Years 3,600 Other Features: ? All taxes/duty/levy and /or any other surcharges presently in force or that may be imposed by the Government of Bangladesh (GOB) from time to time will be deducted/ recovered from the deposit account under this scheme. ? Loan may be granted up to maximum 80% of the forced encashment value on the date of loan processing. During the period of continuation of loan, quarterly benefits will be credited only to loan account. ? Loan processing fee be realized BDT 50. 00 only and usual stamp costs also be realized. FIXED DEPOSIT: The money is fixed up to a certain months or year. Bank gives them interest against this money. If customer doesn’t encashment his/ her fixed deposit at a time the amount is auto renewed and the interest is applied automatically at the account. |Amount |Months/ Year |Interest | |TK. 10,000< |1 month/ 2 months/ 3 months |8. 5% | |TK. 10,000< |3 months< |11. 50% | o Form must be properly filled up One copy of passport size photograph of account holder o One copy of passport size photograph of nominee 3. 4: Cash Department: Opening of Cash: Beginning balance is used to start daily transaction & maintenance of Receipt and Payment Registers while receiving & paying different amount of cash. Previously issued cheque will be paid if issued 6 months before. Advance issued cheque cannot be made payment even one day before. Evening Banking: Can only receive cash. No payment can be made except some special cases. Issue Note: Notes issued by the bank & accepted by the people, fresh notes . Non-issue Note: Notes cannot be issued for public like torn, mutilated notes Soiled Notes etc. 3. 5: Clearing House: Functions of Clearing Clearing stands for mutual settlement of claims made in among member banks at an agreed time and place in respect of instruments drawn on each other. †¢ Clearing house is an arrangement under which member banks agree to meet, through their representative, at the appointed time and place to deliver instruments drawn on them. †¢ The net amount payable or receivable as the case may be, is settled through an account kept with the controlling bank (Bangladesh Bank). [pic] Types of clearing †¢ Outward clearing †¢ Inward clearing Types of returns †¢ Outward return †¢ Inward return Clearing (Outward) process: tier First tier: Collection Branch Second tier: Principal Branch/local office Third tier: Clearing house (Bangladesh Bank) Clearing (Inward) process: tier First tier: Clearing house (Bangladesh Bank) Second tier: Principal Branch/ Main Branch Third tier: Paying Branch 3. 6: ISSUEING PO, DD, TT: ? Pay Order: This is one type of security. This can not be transferred. Anyone can draw a pay order. The pay order can be encashment from any bank. |Amount |Commission |Vat | |1>10,000 |25 |4 | |10,000< 1,000,000 |50 |8 | |100,000