General Banking Activities of Mercantile Bank Limited

Page 1 of 53 1. 0. Introduction Now a day present world especially the Asian countries are going through an economic recession. Though the Asian economic crisis began few years back and it is somehow tackled today but the 11 September incident aggravated the disorder in the economic infrastructure of our country. Our economy is much dependent on foreign aids. The World Trade Centre incident created a negative impact on our economy as the foreign aids to Bangladesh have been reduced a lot. Therefore the government is trying to deal the economic crisis by generating revenue internally.In this aspect the importance of the financial sector, particularly banking sector is emphasized. But the banking sector of our country is already overburdened with huge amount of classified loans. Government tries to improve the situation. Mercantile Bank Limited was incorporated in Bangladesh as a Public Limited Company with limited liability under the Bank Companies Act 1991on 20 May 1999 and commercia l operation on June 1999. The Bank went for public issue of shares on in 2003 and its shares are listed with Dhaka Stock Exchange and Chittagong Stock Exchange. 1. 1. Origin of the Report:This report has been prepared as a requirement of the internship program based upon the Mercantile Bank where my organization supervisor is Anjon Azad, senior executive officer, Dhanmondi Branch, Mercantile Bank Ltd. And my institution supervisor is Abdullah Mohammed Ibrahim Department of Business Administration, Northern University, Bangladesh. My institute supervisor duly approved the topic decided for doing the report. Since the BBA program is an integrated, practical and theoretical method of learning, the students of the program are required to have practical exposure in any kind of business organization in last term of this course.Page 2 of 53 1. 2. Background of the Report: Business world is becoming very much complex day by day. Without sufficient practical experience business become diffic ult and in some cases impossible. The whole world is moving because of Business relation. Business plays a very important role in developing economy of a country. So, in the business world practical experience is regarded as a media through home we have an acquaintance with the real world.As a BBA program is integrated theoretical and practical method of teaching students of this program are required to have practical exposure in own different major discipline in the presiding years of their courses. I was authorized to prepare a report on General Banking Activities of Mercantile Bank Limited, for partial fulfillment of my course requirement. 1. 3. Objective of the Report: This paper is prepared with a view to highlight my three months period banking experience through the analysis of products and services available at Mercantile Bank. The objectives of this report are: To get an overall idea about Mercantile Bank. ? Gather potential knowledge about general banking of MBL. ? To show available product and services. ? To analysis the unique features of MBL. ? To identify the strength, weakness, opportunity and threats for MBL. ? To suggest ways of improving the service quality that accommodates a rapidly growing customer volume. Page 3 of 53 1. 4. Methodology of the study Data collection: Source of data of this report can be divided into two categories: Primary source: The method of collecting primary data will be mostly limited to formal and informal interviewing.I have planned to interview top level (in-charge of the division), mid level managers to gain insights of their ways of doing business. I understand that they are important and busy people. Therefore my interview schedule will be subject to their availability. Secondary source: As for collecting secondary information. I will review any and all related publication available to me such as Banks annual report, brochures etc. Moreover. I will also use the internet to visit bank? s global website and other related web pages for any information related to my study. 1. 5. Scope of the reportI have worked as an internee in Mercantile Bank (Dhanmondi branch), which is one of the most successful banks in our country. When I was there I worked in different sections of this Bank. These were Account opening section, Collection & Clearing section, Cash section and accounts section. The main scope of this study is the findings regarding MBL? s products & services availability & techniques. Many aspects of the operation & product diversification along with the production technology of MBL could be adopted by our planners to design our banking sector into a real effective one.This report may act like a guide in revealing some of the important aspects of MBL. Page 4 of 53 1. 6. Limitation of the report ? Limitation of time was one of the most important factors that shortened the present study. Due to time limitation many aspects could not by discussed in the present study. ? Availability of critic al information is crucial to my analysis. Some of the information can be deemed too confidential by the management, especially the ones regarding corporate strategies, information on matrix system or credit scoring method and strategies they follow to hold its competitiveness in the market.Hence, access to that information will be restricted, which may limit the scope of my analysis. As I had more dependencies on the primary sources , so there might be some level of inaccuracy with those collected information through adequate verification and crosschecking was used to minimize the error level . Page 5 of 53 A bank is a financial institution that accepts deposits and channels those deposits into lending activities. Banks primarily provide financial services to customers while enriching investors. Government restrictions on financial activities by banks vary over time and location.Banks are important players in financial markets and offer services such as investment funds and loans. B anks borrow money by accepting funds deposited on current accounts, by accepting term deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money by making advances to customers on current accounts, by making installment loans, and by investing in marketable debt securities and other forms of money lending. Banks provide almost all payment services, and a bank account is considered indispensable by most businesses, individuals and governments.Banks borrow most funds from households and non-financial businesses, and lend most funds to households and nonfinancial businesses. 2. 1 Background of Mercantile Bank Limited (MBL) Banking system occupies an important place in a nation? s economy. A banking institution is indispensable in a modern society. It plays pivotal role in the economic development of a country. Against the background of liberalization of economic policies in Bangladesh, Mercantile Bank is a well known Bank in our country and the one, believe in „service to client with efficiency?.Within a short period of its operation the bank has already gained a confidence in the minds of its clients. The success is primarily attributed to bold decisionmaking, efficient and cordial services, economic use of resources and introduction of new financial products and technologies . The continued endeavors of the Management and Staff of the Bank under prudent guidance and timely support of the Board of Directors have substantially contributed to success of the Bank. Mercantile Bank Ltd. s committed to provide high quality services to its constituents through different financial products and profitable utilization of fund and contribute to the growth of GDP of the country by financing trade and commerce, helping industrialization, boosting export, creating employment opportunities for the educated youth and encouraging micro-credit leading to poverty alleviation and improving the quality of life of the people and thereby contributing to the overall socio-economic development of the country. During this short span of time the MBL has been successful to position itself as a progressive and dynamic financial institution in the ountry. The MBL has been widely acclaimed by the business community, from small entrepreneurs to large traders and industrial conglomerates, including the top rated corporate borrowers for forwarding-looking business outlook and innovative financing Page 6 of 53 solutions. Thus within this very short period of time it has been able to create an image for itself and has earned significant reputation in the country? s Banking Sector as a bank with vision 2. 2 Vision: â€Å"Would make finest corporate citizen† 2. 3 Mission Will become most caring, focused for equitable growth based on diversified deployment of resources, and nevertheless would remain healthy and gainfully profitable bank. 2. 4 Objectives . Strategic Objectives To achieve positive Economic Value Added (EVA) each year. To b e 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 we serve. . Financial Objectives To achieve a return on shareholders? equity of 20% or more, on average.Core Values For customers: ? Providing with caring services by being innovative in the development of new banking products and services. For Shareholders: ? Maximizing wealth of the bank. For the employees: ? Respecting worth and dignity of individual employees devoting their earnings for the progress of the bank. Page 7 of 53 2. 5 Mercantile Bank at a Glance: Page 8 of 53 2. 6 Milestones in the development of the organization Page 9 of 53 2. 7 Management Structure of MBL The bank is proud to have exemplified the true concept as „Banglar Bank?. The Bank launched several financial products and services since its inception.Amo ng them Page 10 of 53 3. 0 Overview of Dhanmondi Branch, of MBL. Mercantile Bank Ltd. Dhanmondi Branch started its journey since 1999. It is the 2nd branch from the establishment. This branch is the second largest branch also. This branch is situated in Dhanmondi, Road number 27, House name- Sima Blossoms, 1st floor. Recently this branch shifted to this new office premises for providing better services to the customers. This branch is an authorized dealer of foreign exchange trade. The branch In-Charge is an Executive Vice President (EVP). Dhanmondi Branch is situated in a prime location of Dhanmondi area.This is a busy and important area of Dhaka city. Mercantile Bank Dhanmondi Branch has a good reputation through the customers of Dhanmondi and some other nearest areas. The total number of accounts and other deposits schemes are increasing day by day. Customers are very satisfied with the services of this branch. As a result this branch has become an icon branch of this area. Merca ntile Bank Dhanmondi Branch is working for strengthen the economy of the country. 3. 1 Departments of Dhanmondi Branch: Mercantile Bank Dhanmondi Branch has three main departments and it has some other sub departments also. A.General Banking Department i. Account opening ii. Clearing iii. Cash iv. Card division etc. v. FDR B. Credit Department C. Foreign Exchange Department Page 11 of 53 3. 2 MBL Dhanmondi Branch Hierarchy: Figure: MBL Dhanmondi Branch Hierarchy. At branch level all the decisions are taken by the branch manager. But rules and regulations are set at the Head Office. Branch manager has supreme power to final disbursement of the facility to the customer. Assistant vice president coordinates all the function of the branch as Manager-Operation. Executive Vice President (Branch) Manger (Branch)Manger )))))))))))Manager)Vice President (Manager) Operation Assistant Vice President First Assistant Vice President Principal Officer Senior Executive Officer Executive Officer Pro bationary Officer Assistant Officer Page 12 of 53 Figure: Depicts departments of the MBL MERCANTILE BANK LIMITED DHANMONDI BRANCH LIST OF EXECUTIVES & OFFICERS Total Number of Executives & Officers 47. SL. NO DESIGNATION NUMBER OF OFFICERS 01 Executive vice precedent(EVP) 01 02 Vice precedent (VP) 01 03 First vice precedent (FVP) 01 04 Assistant vice Precedent (AVP) 02 05 First assistant vice precedent (FAVP) 05 06 Principal officer (PO) 03 7 Senior executive officer (SEO) 05 08 Executive officer (EO) 07 09 Probationary officer (Prob. Off) 02 10 Officer (OFF) 08 11 Assistant officer (AO) 07 12 Trane assistant officer (TAO) 05 Page 13 of 53 Dhanmondi Branch Sima Blossom House No. 390 (Old), 03 (New) Road No. 27 (Old), 16 (New) Dhanmondi R/A, Dhaka -1209 Phone : 9130500, 9142691 Mobile : 01755-500192 Fax : 88-02-8126768 HOB: Syed Ahmadul Karim, EVP 3. 3 Yearly profit performance of Dhanmondi Branch: ( BDT in million ) 2009 2010 2011 102. 91 123. 54 138. 89 Table – 17: Profit of Dhanmondi branch Fig – 10:Profit of Dhanmondi branchInterpretation : The figure shows that the profit of the Dhanmondi branch in year 2009 is 102. 91 which increases at a higher rate in 2010 is 123. 54 and we follow on graph 2011 is profit 138. 89 million. Page 14 of 53 4. 0 Internship duties and responsibilities As partial requirement of BBA Program I get attached Mercantile Bank Ltd (MBL). To complete my internship program and it? s really a great opportunity for me to acquire practical knowledge and experiences from such a renowned bank. My internship period started at 1st March to 31 May 2012 in Bank ( Dhanmondi Branch).In this time it was very important for me where practical experience gathered. Those 3 months of Internship program I have learned about general banking and especially emphasis on loan & advances on MBL (Dhanmondi Branch) 4. 1 Nature of the job The 3 months of my internship program I was required to learn various types of banking tasks, which assigned by the officers of different department. In this period I am working with all departments but in a major portion of time I spend in general banking departments . Reception is the department in which the first interaction between the customer and the bank takes place.Since the first impression is the long lasting impression, the quality, customization and response time of this department is very important. Different types of activities are conducted here. My daily working hour started at 10:00am as banking hour started and ends normally 6:00pm or more. My daily task was as follows: ? Opening new accounts ? Issuing pay-order, ? Deliver ATM card, ? Issuance & Activation of ATM card, ? Providing Deposit book 4. 2 Opening new accounts: The relationship between the bank and its customer starts with opening an account. There are different types of accounts considering different customer types and requirements.Savings account Current account Short Term Deposit (STD) account Fixed Deposit Recei pt (FDR) account The following formalities must be completed by the customer of MTBL. ? Application on the prescribed form. Page 15 of 53 ? Furnishing photograph. ? Introduction by an account holder ? Transaction profile form ? KYC form ? Putting specimen signatures in the specimen card. ? Mandate if necessary. After fulfilling the above formalities, SJIBL provides customers a pay in slip book and cheque book. 4. 3 Issuing pay-order: Pay order is always account payable.At first, the applicant fill up the form than pays the amount of a Pay Order. At the same time, PO is used to send money within the clearing area only. When it will be posted than write in Pay Order Block correctly. 4. 4 Deliver ATM card: When issued a ATM card than inform the customer by phone call for receiving his/her ATM card with Pin no. 4. 5 Issuance & Activation of ATM card: When an applicant applies for an ATM card then it must be issued to ATM department. After issuing card when will it receive then after 24 hours it will be active. 4. 6 Providing Deposit book: A deposit slip is needed to deposit money in an account.The customer service department provides deposit slip to the customer. 4. 7 Analysis of Data used in the office A bank has different types of statements where I analyzed some of the documents like list of statements of general banking division; Statement of General Banking Division: These is one kind of statement, which must be produced from the general banking division on a regular basis such as daily position statement, statement of affaire, income tax on Page 16 of 53 profit, VAT on banking service, VAT on LC etc. these statements are generally produced on daily, monthly, weekly basis 4. 8 Learning pointsDuring my 3 months internship program I have learned different kinds of things which are as follows; 4. 9 New account opening system: There are different types of accounts considering different customer types and requirements. Savings A/C, Current A/C, Fixed Deposit (FDR) , STD A/C. Being fulfilled the above requirements; a new account is opened through the software â€Å"Flora†. An ID is created for the account holder (In case of Individual? s account or Organization? s), or one ID each for each of a joint account. One person/organization can have only one ID using which he/it can have several accounts.When created Customer ID then add amount of deposit, if it is current or saving then the introducer? s information also necessary. When giving all information properly then this record will be saved on software â€Å"Flora† and a account serial number will be given 4. 10 Issue of new check book: Issues of check book have several steps. When a account is open then account holder receive a thanks letter. Then we verify his/her signature and issue a check book but its deferent criteria for a old account holder. He/she just give a requisition for a new check book if previous book is finished. . 11 ATM card: I also learned about how to a ATM card issue and how to active. First I prepare ATM form then verified the signature. After verification I send it to IT department for issuance. After issue ATM card I just send a activation letter on IT department after 24 hours then it will be active. Page 17 of 53 4. 12 Pay order In a pay order first the form should be fill up where it issued, amount of money, the name of client. After that the vat and commission will included. When received cash then the pay order block prepared where in front of the page in block letter â€Å" NOT OVER .TK ONLY† was written. 4. 13 KYC form competition KYC stands for Know Your Customers. In that form the clients full information? s are given like earning source, which documents they submitted for their identification, amount of money deposited/withdraw in a month. 4. 14 Besides of these I have learned the following things ? During my internship in MTBL, I have learned how to maintain discipline. ? During my internship period, I found every body follow strict timeout. Every employee enter the office at right time, or before the right time and also leave office at due time.Nobody can leave office at least 6. 30pm. Every works perform in time. ? I have learned how to handle the customers in an efficient way and make a good relationship for office purpose. Page 18 of 53 5. 0 General Banking of mercantile Bank limited at Dhanmondi Branch General Banking is the heart of banking business. This is the primary and important department of a branch. Though it is a very complex process but the officers of Dhanmondi Branch? s are provides excellent service. For this the customers of this branch are very satisfied for operating their account in this branch.Activities of General Banking Department In Dhanmondi Branch General Banking consists: ? Account Opening Section ? Deposit section ? Remittance Section Cash Section ? Clearing Section ? Accounts Section ? Check Book Issue Section ? Locker Section 5. 1 Account Opening Section Acco unt opening is the gateway for clients to enter into business with bank. It is the foundation if banker customer relationship. By open account bank collect deposit form individual. And deposit is the lifeblood of Banking Business. Various rule and regulation Page 19 of 53 are maintained for open an account.A customer can open different types of deposit account through this section. Such as, 1. Demand Deposit Account a) Current Deposit Account (CD A/C) b) Savings Banks Account (SB A/C) 5. 1. 1 Current Deposit Account (CD A/C) While opening Current Deposit (CD) account, Branch shall follow detail procedures including KYC (Know Your Customer) as stated under â€Å"General Procedure for opening Bank Account† Balance in Current Deposit Accounts is payable on demand and thus the A/C holder is allowed to deposit and withdraw any sun of money from his / her/ their account any time within transaction hours.No interest is paid in Current Deposit Account. Persons / Concerns Eligible for Opening Current Deposit Account (CD A/C) Current Deposit Account is suitable for business transactions because of no restriction on withdrawal either in amount or frequency. Branch may open a Current Deposit Account in the name of: o Individuals o Two or more persons jointly o Sole Proprietorship o Partnership Firms o Limited Companies (Both Public and Privet) o Societies / Clubs / Associations o Govt. / Semi Govt. Offices / Corporations o Others ? Introduction of Current Deposit AccountBank, for opening of new CD account may accept introduction from another CD / STD / SB account holder having prolonged relationship with the bank and track of satisfactory transactions. Introduction by a reputed person of the locality is also acceptable. ? Initial and Minimum Deposit for Current Deposit Account Page 20 of 53 New Current Deposit Account is to be opened minimum deposit of BDT 5,000 in Urban Branch and BDT 2,000 in Rural Branch, which will be treated as minimum balance in respective ac count and balance should preferably be maintained always.Branch shall recover Commitment Fees @ BDT 500 from CD A/C twice a year, provided it does not run below the minimum balance at any time for any reason whatsoever. a) Savings Bank Account (SB A/C) This account has been designed and developed for individual savers and as such it is not usually suitable for business concerns as there are restriction of withdrawal in both amount and frequency. Savings Account may be opened in the name of: Individual Two or more individual (joint) who are not partners Clubs / Societies / Association / non-profit organization.Introduction: Savings A/C may be introduced by a running CD / STD / SB Account holder, who have sufficient balance and satisfactory transaction in the accounts. Banks Officials may introduce SB Accounts mentioning their power of Attorney (PA) provided they know the person very well. The branch, while opening a savings A/C, shall follow derail procedure including KYC formalities embodied in the â€Å"General Procedure for opening Bank Account† 5. 1. 2 Initial Deposit: For savings Bank account in Urban Areas is BDT 1,000 and in Rural Areas is BDT 500. InterestIn savings A/C shall be paid on daily product basis but no interest in savings account is payable for the month if balance in the account falls below BDT 10,000 on any day during the month. Besides above, interest shall not be paid in SB A/C for the particular month, when withdrawal in account is more then twice in a week or amount withdrawn in a single cheque exceeds 25% of balance of the account. 5. 1. 3 Time Deposit Account a) Short Term Deposit (STD) b) Fixed Deposit Reset (FDR) c) Scheme Deposit Accounts Page 21 of 53 Double Benefit Deposit Scheme (DBDS) Family Maintenance Deposit (FMD) Monthly Savings Scheme (MSS)Quarterly Benefit Deposit Scheme 1. 5 Times Benefit Deposit Scheme Advance Benefit Deposit Scheme (ABDS) N: B: Savings Banks Account (SB A/C) is also taking a time deposit account . a) Short term Deposit (STD) A/C STD A/C is middle in CD & SB A/C. By this, Account holder can make transaction in his / her wish as a current account but he or she gets some interest. The rate of interest is 5% per annual. This interest is paid on daily basis. Initial deposit for opening STD A/C is BDT 50,000. In STD A/C maintained average balance 1 lac. If it is not maintained in any month of the year then no interest is provide in this month of this year. ) Fixed Deposit Rate (FDR) Opening FDR A/C: Bank opens FDR who is Bangladeshi Citizen. And the minimum amount is BDT 10,000. Bank provides a FDR form, Customer need to fill up this form properly. Than the in charge officer chick the form properly, main things is Date and Amount, Maturity Date, Interest Rate, Source of Fund, Customer Signature and one copy passport size photograph of both account holder and nominee etc. Interest rate Maturity Interest Rate 12 Month and Above 11. 50 % 6 Month 11. 50 % 3 Month 9. 50 % Page 22 of 5 3 Page 23 of 53 5. 2 Rules of Opening an AccountNow-a-days under the strict monitoring of Bangladesh Bank, there are several criteria that a client must fulfill as he/she/an organization wishes to open an account. The basic criteria are discussed below: ? Account Opening Form (AOF) duly filled & signed ? Signature cards properly signed ? Applicant introduced by an authorized person such as account holder or employee of MTBL or by a respectable person acceptable to the bank ? Two copies of passport sized photographs which are attested by the introducer ? Name of nominee written and photograph of the nominee(s) attested by the applicant Photocopy of passport (attested) or photocopy of National ID card or letter of introduction by the employer or certificate issued by chairman of Union Parishad or Ward commissioner ? TIN (if available) ? Customer transaction profile form properly filled in and signed. ? Apart from proof of identify branch must also obtain proof address to confirm if cu stomers address is genuine. Although this verification partly done through â€Å"Thanks Letter†. ? KYC profile form (properly filled in, signed and approved) for high net worth customers falling under the following criteria: ) New customers whose initial deposit is more than Tk. 50. 00 lac (initial means within one month of A/C opening) ii) Existing customers whose total AUM (Asset under Management) grow to more than Tk. 50 lack for three consecutive months. 5. 2. 1 In The Name of Individual The client has to fill up an account opening form. Terms and conditions are printed on the back of the form. The form contains the declaration clause, special instructions etc. two copies of passport size photograph duly attested by the introducer are affixed with the form. Page 24 of 53 5. 2. In Joint Name In this type, the formality is same as individual account, but in the special instruction clause, either or „survivor? or „former or survivor? clause is marked. 5. 2. 3 Pro prietorship In addition the customer has to submit the valid Trade License and Tax Paying Identification Number (TIN) along with the application. 5. 2. 4 Partnership In case of partnership account, the bank asks for, ? A copy of the partnership agreement (Partnership Deed) ? A letter signed by all the partners containing the following particulars. ? The name and addresses of all partners The nature of the firm? s business ? The name of the partner authorized to operate the account in the name of the firm, including the authority to draw, endorse and accepting the bills and mortgage and sell the properties belonging to the firm. 5. 2. 5 Limited Company On having the desire to open an account from a limited company, an MTBL Bank Officer asks for the following documents: ? Registration Certificate from the Registrar of Joint Stock of Companies ? Certificate of Incorporation ? Certificate of Commencement of Business ? Memorandum of Association ? Articles of Association Copies of Annual Accounts ? Copies of the Board? s resolution, which contains a). The name of the persons who have been authorized to operate the bank account on behalf of the company. b). The name of the persons who are authorized to execute documents with the bank on company? s behalf. 5. 2. 6 Societies, Clubs and Associations In case of these sorts of accounts MTBL requires the following documents: ? Registration Certificate under the Societies Registration Act, 1962 ? Copies of Memorandum, Articles of Association ? Resolution of the Managing Committee. Page 25 of 53 Power of Attorney to Borrow 5. 2. 7 Non-Government Organization (NGO) The account opening procedure is same but in exception is that the Registration Certificate from the Social Welfare Department of Government must be enclosed with the application. 5. 3 Closing Bank Account: Customers may request the branch to close his or her account at any time. Again, the bank or the branch without such request may, by force, close the account of its customer on legitimate grounds procedure for closing accounts in such cases are as under: A. Closing of bank account at customers request:On receipt of customers written application for closing his or her account, authorized official shall (i) ascertain its genuineness through verification of signature on the letter of request (ii) obtain approval of head of branch or manager operation to this affect in collect are unused check leaf from the accountholder to destroy (iv) realize specify amount of closing charge and government duty and other dues from the account The branch, however before closing any account shall up to date interest at prevailing rate in the account of the customer after recovering his or her charges with the bank or govt.B. Forced Closing of Bank Account: Branch at its discretion can closed any account office customer if it is not operated as per banks norm. in such situation, it shall serve a written notice under signature of head of the branch and manager o peration to the customer which request tio closed the account within specified time. If the customer does not turn up in the time the branch shall close the account and send him or her a payment order with balance amount of his or her account by registered mail under a covering letter signed by head of the branch. 5. 4 Payment Order (PO):A Pay Order, similar to a banker's cheque is also payable locally, the only difference is that in case of a pay order, the bank is directing the payee bank to pay the amount mentioned on the pay order to the person/organization so mentioned or his order, i. e. any other person/organization. Both pay orders and demand drafts are used by individuals to make transfer payments from one bank account to another. The main difference between the two Page 26 of 53 is that while a demand draft is a written order directing the payment to be made to a third party outside your city, a pay order is drawn for the third party within your city. . 4. 1 Issue of pay O rder: For issuing pay order branch shall receive from applicant i) Prescribed application form duly filled in and signed and (ii) required amount of cash /cheque. on receipt of above ,branch shall issue PO in the name of the person or organization specified in the application form amount of PO is to be written further on middle top of pay order ship in block figure in addition to writing of the amount in words and figure in the space provided for on the instrument Branch shall create the following entries while issuing pay order against cash or claque or both Debt cash or purchaser account with claque ? Credit bills payable pay order issue ? Credit income account – commission ? Credit vat on banking service 5. 5 Issue of Cheque Book: While issue 1st cheque book to a new customer, branch shall use prescribe fresh printed cheque requesting from properly fill in and signed by the account holder or authorized name and signature. And make sure that no document or information is pe nding. While bank issuing a cheque book shall observe required formalities in three areas as under: Area 1- (In cheque requisition slip or application) A.Verify signature and particular appearing on the application for requisition B. Put his or her initial makes to the signature of the account holder as a prove of verification C. Note down series number of new cheque book in the specific space Area 2- (In cheque book) A. Take out a new cheque book from running stock. B. Make sure that all leaf, including requisition slip inserted within the book are intact Page 27 of 53 C. Write down the title of account and account number on the cover page, requisition slip and account number on the cheque leaf D. Affix seal with name of the branch on each leaf of the cheque books.E. Put initial on given space at right hand top corner of each cheque leaf Area 3- (In cheque issue register) A. Enter name of the account holder, account number & series number of the particular cheque book in the specif ied space B. Put his or her initial in relevant column of requisition from to authenticate the entries After completion of all the above formalities authorized official of the branch shall submit the cheque book together with cheque requisition slip as well as the cheque issue register duly prepared and failed in to the head of the branch manager for further verification and authentication. . 6 Locker Facilities: MBL locker service allows the customers to keep their valuable in a safe and secure place and access their at customer? s convenient times. These strong and heat resistant steel lockers lodged in reinforced concrete steel vault, round the clock security guards, sophisticated anti- burglary alarm system provide maximum protection to the valuables of customers. The service charge is yearly Tk. 1500. Condition: ? An application form must be filled up for gate locker. ? Applicant must have a saving Account. ? 2 copies of PP size photographs of the Applicant. 1 copy of PP size p hotographs of nominee. ? Yearly charge must be paid in advance. ? Security money is refundable at the time of closing. Page 28 of 53 5. 7 Cash & Computer Section: The cash section of MBL deals with all types of negotiable instruments, cash and other instruments and treated as a sensitive section of the bank. It includes the vault, which is used as the store of cash, instruments. If the cash stock goes beyond this limit, the excess cash is then transferred to Bangladesh Bank. Keys to the room are kept under control of cash officer and branch in charge.The amount of opening cash balance is entered into a register. After whole days’ transaction, the surplus money remains in the cash counter is put back in the vault and known as the closing balance. Money is received and paid in this section. Functions of this Section are: ? Receiving cash ? Paying cash ? Issuing vouchers ? Making Proper entries in the ledgers 5. 7. 1 Cash Receipt: ? At first the depositors fill up the Deposit in Slip. There are two types of deposit in slip in this branch. One for saving account and another for current account. ? After filling the required deposit in slip, depositor deposits the money. Officers at the cash counter receives the money, count it, enter the amount of money in the scroll register kept at the counter, seal the deposit in slip and sign on it with date. ? Then this slip is passed to another officer who enters the scroll number given by the cash counter in his/her register along with the amount of the money, sign the slip and keep the banks’ part of the slip. Other part is given to the depositor. ? All deposits of saving account are maintained by one officer and other accounts by another officer. Page 29 of 53 5. 7. 2 Cash Payment: First of the entire client comes to the counter with the check and give it to the officer in charge there. The officer checks whether there are two signatures on the back of the cheque and checks his balance in the computer. After that the officer will give it to the cash in charge. ? Then the cash in charge verifies the signature from the signature card and permits the officer in computer to debit the client’s account by giving posting. A posted seal with teller number is given ? Then the cheque is given to the teller person and he after checking everything asks the drawer to give another signature on the back of the cheque. If the signature matches with the one given previously then the teller will make payment keeping the paying cheque with him while writing the denomination on the back of the cheque. ? If the instrument is free of all kind of error the respected officer will ask the bearer to sign on the back of it. ? He will then put his/her initial beside the bearers’ signature. S/he will also sign it on its face, will write down the amount by red pen and will put on a scroll number from his/her scroll register. ? Then the cheque will be sent to the cash counter. At the cash counter bearer will be asked again to sign on the back of the instrument. The cash officer will then enter the scroll number in his/her register and will pay the money to the bearer. ? At the end of the day these scroll numbers of the registers will be compared to ensure the correctness of the entries. Page 30 of 53 5. 8 Clearing Section When a customer of Mercantile Bank Limited presents an instrument drawn on other bank for collection, the instrument is collected through clearing house of Bangladesh Bank. Mercantile Bank Limited, Local Office takes part in the clearing function on behalf of fifteen branches of Mercantile Bank Limited; functioning inside or outside of Dhaka city.The instruments are sent to those banks through clearing arrangement. Every day two houses are arranged; one in the morning and another in the evening. The evening house is known as return house. Everyday instruments drawn on different banks are sent to the clearing section of Local Office from those fifteen branches. Th e function of the clearing department can be divided into two parts. ? Inward Clearing ? Outward Clearing 5. 9 Bills Section Customers of Mercantile Bank Limited, Local Office submit many instruments in the bills section for collection. Bills section plays a vital role in collecting these bills.The bills submitted for collection can be divided into two categories. 5. 10 FDR & BCD section These are deposits, which are made with the bank for a fixed period specified in advance. The bank needs not to maintain cash reserve against these deposits and therefore, bank gives high rate of interest on such deposits. A FDR is issued to the depositor acknowledging receipt of the sum of money mentioned therein. It also contains the rate of interest and the date on which the deposit will fall due for payment. Page 31 of 53 5. 11 Procedure of Opening Fixed Deposit Account:Before opening a Fixed Deposit Account a customer has to fill up an application form which contains the followings: a) Amount i n figures b) Beneficiary’s name and address c) Period d) Rate of interest e) Date of issue f) Date of maturity g) How the account will be operated ( singly or jointly) h) Signature(s) i) F. D. R. no. j) Special instructions (if any) After fulfilling the above information and depositing the amount, FDR account is opened and a FDR receipt is issued and it is recorded in the FDR Register which contains the following information: a) FDR account no. b) FDR (Fixed Deposit Receipt) no. c) Name of the FDR holder with address ) Maturity period e) Maturity date f) Interest rate 5. 12 Payment of Interest: In case of Fixed Deposit Account the bank does not have to maintain a cash reserve. So Mercantile Bank Limited offers a high interest rate in Fixed Deposit accounts. It is usually paid on maturity of the fixed deposit. NCCBL calculates interest at each maturity date and provision is made on that â€Å"Miscellaneous creditor expenditure payable accounts† is debited for the accrue d interest. Page 32 of 53 5. 13 Interest Rate Rate of Interest varies depending on the period of maturity date. Duration Rate of Interest 3 months 9. 00-9. 25% 6 months 9. 5-9. 50% 12 months 9. 75-10. 50% 24 months 10. 25-11. 25% 36 months 10. 75-11. 50% Table 4: Interest Rate of MBL 5. 14 Renewal of FDR: The FDR becomes automatically renewed for like periods and amounts, unless this are withdrawn by the depositor or, the bank notifies the depositor in writing at least 15 days in advance of the original Or, any renewed maturity date (s) of its desire to terminate the account or change any term and condition of the account. Page 33 of 53 6. 1 Customer Satisfaction Level of MBL Dhanmondi Branch During the Internship I worked in general banking activities of Mercantile Bank Ltd.And learned about the process of opening bank account, and different types of process. When I worked in general banking desk I was also placed in customer relation desk. By working in customer relations desk I o bserved that there was lack of services they provide to customers. That? s why customers are not fully satisfied. So I developed a questionnaire to measure the service quality and customer satisfaction of MBL. In this I have used primary data to analysis level of customer satisfaction on MBL. I collected data from survey through questionnaire; 30 respondents participated in this survey.After collecting data I used SPSS software to get an output which represents the level of customer satisfaction of MBL Dhanmondi Branch. 6. 2 Mercantile Bank uses Modern Equipment. Figure no. 6. 1. 1 This figure shows that the neutral response of the customer is 14. On the other hand the agree respondent is 11 and disagree respondent is 5. Most of the clients represent their opinion neutral. So MBL Dhanmondi Branch should increase their technology based services for customers. Page 34 of 53 6. 3 MBL provides services which is not provided by other bank Figure no. 6. 1. 2In this above figure, most of t he respondents represent their opinion neutral statement. So MBL should improve their service to satisfy customer needs and demands. Page 35 of 53 6. 4 MBL has friendly environment Figure no. 6. 1. 3 This figure shows that the neutral response of the customer is 10. On the other hand the agree respondent is 14 and disagree respondent is 4 and strongly agree respondent is 2. most of the respondents represent agree with this statement. So the customers are satisfied with the environment of Dhanmondi Branch of MBL. Page 36 of 53 6. 5 Customer of MBL feels secure transaction. Figure no. . 1. 4 In this above figure, most of the respondents represent agreed with this statement. So the customer feels secure transaction with Dhanmondi branch. Page 37 of 53 6. 6 MBL provides prompt service to customer. Figure no. 6. 1. 5 This figure shows that the neutral response of the customer is 12. On the other hand the agree respondent is 1 and disagree respondent is 17. Most of the respondents represe nt disagree with this statement. So the customers are not satisfied with the promptness of employee at Dhanmondi Branch of MBL. Page 38 of 53 6. 7 Employees of MBL show sincerity when customers face problem.Figure no. 6. 1. 6 In this above figure, most of the respondents represent disagree with this statement. So, Employees of MBL should increase their sincerity. Page 39 of 53 6. 8 Are you satisfied with the service of MBL? Figure no. 6. 1. 7 In this above figure, most of the respondents represent their opinion neutral statement. So MBL should improve their services to satisfy customer needs and demands. Page 40 of 53 6. 9 Employees of MBL show equal importance to every customer. Figure no. 6. 1. 8 In this above figure, most of the respondents represent their opinion neutral statement.So Employees of MBL should give priority equally to every customer. Page 41 of 53 6. 10 The process of getting service is easy. The procees of getting service is easy disagree nutral agree Frequency 20 10 0 16 5 9 Figure no. 6. 1. 9 This figure shows that the neutral response of the customer is 5. On the other hand the agree respondent is 16 and disagree respondent is 9. most of the respondents represent agree with this statement. So the customers are satisfied with the service delivery of Dhanmondi Branch of MBL. Page 42 of 53 6. 11 Employees of MBL understand specific needs of customer. Figure no. 6. 1. 10In this above figure, most of the respondents represent neutral with this statement. So, employees of MBL should give extra emphasis to understand customer needs. Page 43 of 53 6. 12 Are you totally satisfied with the quality of service of MBL? Figure no. 6. 1. 11 In this above figure, most of the respondents represent neutral with this statement. So employees of MBL should increase their service quality. The 16 number of question show that most of the customer choose MBL for its higher interest rate and branching confinement place Most of the respondent were female the age di stance between them is 20 -34 Page 44 of 53SWOT Analysis: Condition of scheme through SWOT Analysis: Manager should consider several factors when assessing an organizations SWOT analysis presented by extensive competitive environments. Once the strengths, weakness, opportunities and threats have been identified, the management team is then in a position to complete the SWOT analysis by drawing a conclusion about the attractiveness (or unattractiveness) of the organization? s current situation and the need for strategic action. Strengths: ? The customer can draw whole amount of money at a time. ? Terms and conditions are comparatively low. Huge demand from the customer side. ? In case of loan, the interest is comparatively low. ? On-line banking facilities. ? Provides highest interest rate Strong and experienced for level management. ? They have strong reputation in the market. That means they have a brand image. ? MBL has already achieved a goodwill among the clients that? s helps i t to retain valuable clients. Page 45 of 53 Weaknesses: ? MTBL has lack of ATM booth. ? Credit proposal evaluation process lengthy. ? Sometimes untrained employee operates the banking activities. ? No substantive use of annual confidential report to reward or to punish Employee.Hence employee becomes in efficient. ? Some untrained employee operates the banking activities. ? The web site of MBL is not more organized, for that some latest data we cannot collect from the web site. ? The relationship between employees is not very satisfied. But it is very essential for an organization. Opportunities: ? Regulatory environment favoring private sector development ? Wide banking network ? The bank provides the better customer service. ? MBL can use this opportunity to train their employees in specific area ? Low service change and commission than other Bank. To expand the branch Network overall the country. Threats: ? Increased competition in the market for public deposit ? Bangladesh bank sometimes requires private commercial banks to be abide by such rules and regulation which is not suitable every commercial bank. ? Political instability may hamper the environment of the business society. ? Borrowers are having the tendency to be the defaulter. ? Competitors are arising day-by-day. Page 46 of 53 7. 1 Conclusion: From my practical experience, I have reached a concrete conclusion on Mercantile Bank Limited Dhanmondi Branch in a very confident way.I believe that my realization will be in harmony with most of the banking thinkers. It is quite evident that to build up an effective and efficient banking system to the highest desire level computerized transaction is must. The performance of a Banks today competitive business is important. Just few years ago the number of bank was very small. So the competition was not a strong as its today. Things have changed with the emergence of many new banks now the Customers have option to take the one that the best so the current b anking business scenario is simply highly competitive.The performance of Mercantile Bank Limited during the Last twelve years has proved that with strong desire and will power one achieve whatever target he may have. Almost all the leading banks in our country have various Extra facilities in offer for the customers in comparison with other Banks but MBL has succeed in achieving more customer than other competitors. This has been possible only because of strong customer relation and excellent customer service . For Bank general banking is hearts . MBL has emerged as the pioneer of playing key role in the country. Page 47 of 53 7. 2 Recommendation:The Mercantile Bank Limited has achieved success in all sectors and ended up with the highest ever-operating profit, which is much higher than that of preceding year. The profound achievement has been possible because of the able leadership, dedicated and committed service provided by all levels of management and stuff and above all the tru st and confidence that our valued client had reposed in us. For Mercantile Bank, the days ahead will see this institution to achieve greater highest of glory. The bank should develop their communication between employee and customer. The decision making process should be more fast.Internal control system should be improved so as to increase the brunch productivity. Physical and technological facilities should increase in evaluating credit proposals and also in monitoring the recovery of advances. Experienced and expert personnel should be kept within the banks by considering the goal congruence, which will lead to a quality selection of clients in lending money. Decision making authority should be decentralized to some extent to expedite the lending procedure. The Mercantile Bank Limited has provision for internship program, but it is not well organized.Although the officials are very careful and co-operative with the interns, the authority should be more structured. The bank really uses the Internship program to their advantage by rearranging the whole procedure. Now a day? s world is going very fast. Now most of the banks provide online customer service system. So, in order to compete in the world market they should adopt online banking system. One of the business strategies is promotion. Successful business depends how they can promote their products or services to the customer. To improve the business status, the bank should introduce more promotional programs.The products of deposit and investment should be more diversified and modern. Page 48 of 53 References: Kotler, P. (2004), â€Å"Principles of Marketing†, 10th Edition, Pearson Hall Inc, New Jercy Chapter: 7, 8 & 10 (pp 216, 232, 234, 309). Kotler p. & Killer Lane Kavin (2007-2008), â€Å"Marketing Management†, Prentice- Hall Of India Private Ltd, New Dilhi-110001 India, 12th Edition, Chapter 3, 4 & 7 (pp 139, 173, 273, 341, 371, 401, 567, 535) Khan A. R. (2011), â€Å"General Banking Banking System†, 2nd Edition, Islami Bank Tanning & Research Academy (IBTRA), Bangladesh (pp 68, 69).Retrieved from http://marketingteacher. com/lesson-store/lesson-personal-selling. html, accessed on 05-03-2012; 6. 30pm to 8. 00 pm. Retrieved from http://tutor2u. net/business/marketing/promotion. asp, accessed on 05-03- 2012; 6. 30 pm to 8. 00 pm. Retrieved from http://tutor2u. net/business/marketing/promotion. asp accessed on 28-01- 2012; 07. 45 pm to 12. 00 am. Retrieved from http://www. learnmarketing. net/servicemarketingmix. htm accessed on 05- 04-2012; 6. 30 pm to 8. 00 pm. Retrieved from www. mblbd. com accessed on 01-02-2012; 09. 00 pm to 01. 00 am.Mercantile Bank Limited, (2008-2010) â€Å"Annual Report†, Mercantile Bank Limited, 16 Dilkusha commercial area, Dhaka Bangladesh. Zeithaml. A. Valarie (2005), â€Å"Services Marketing†, 4th edition, TATA McGraw Hill Edition, New Delhi, India, Chapter: 1, 12 (pp 22,26,27, 60, 62,355,366). Page 49 of 53 Mercant ile Bank uses Modern Equipment. Frequency Percent Valid Percent Cumulative Percent Valid Disagree 5 16. 7 16. 7 16. 7 Neutral 14 46. 7 46. 7 63. 3 Agree 11 36. 7 36. 7 100. 0 Total 30 100. 0 100. 0 MBL provides services which is not provided by other bank Frequency Percent Valid Percent Cumulative Percent Valid Disagree 3 10. 10. 0 10. 0 Neutral 14 46. 7 46. 7 56. 7 Agree 13 43. 3 43. 3 100. 0 Total 30 100. 0 100. 0 MBL has friendly environment Frequency Percent Valid Percent Cumulative Percent Valid Disagree 4 13. 3 13. 3 13. 3 Neutral 10 33. 3 33. 3 46. 7 Agree 14 46. 7 46. 7 93. 3 Strongly agree 2 6. 7 6. 7 100. 0 Total 30 100. 0 100. 0 Customer of MBL feels secure transaction. Page 50 of 53 Frequency Percent Valid Percent Cumulative Percent Valid Disagree 4 13. 3 13. 3 13. 3 Neutral 7 23. 3 23. 3 36. 7 Agree 18 60. 0 60. 0 96. 7 Strongly agree 1 3. 3 3. 3 100. 0 Total 30 100. 0 100. 0 MBL provides prompt service to customer.Frequency Percent Valid Percent Cumulative Percent Vali d Disagree 17 56. 7 56. 7 56. 7 Neutral 12 40. 0 40. 0 96. 7 Agree 1 3. 3 3. 3 100. 0 Total 30 100. 0 100. 0 Employees of MBL show sincerity when customers face problem. Frequency Percent Valid Percent Cumulative Percent Valid Strongly disagree 2 6. 7 6. 7 6. 7 Disagree 13 43. 3 43. 3 50. 0 Neutral 12 40. 0 40. 0 90. 0 Agree 3 10. 0 10. 0 100. 0 Total 30 100. 0 100. 0 Are you Satisfied with the service of MBL? Frequency Percent Valid Percent Cumulative Percent Valid Strongly disagree 2 6. 7 6. 7 6. 7 Disagree 8 26. 7 26. 7 33. 3 Neutral 13 43. 3 43. 3 76. 7 Agree 7 23. 23. 3 100. 0 Total 30 100. 0 100. 0 Page 51 of 53 Employees of MBL show equal importance to every customer. Frequency Percent Valid Percent Cumulative Percent Valid Strongly disagree 1 3. 3 3. 3 3. 3 Disagree 10 33. 3 33. 3 36. 7 Neutral 18 60. 0 60. 0 96. 7 Agree 1 3. 3 3. 3 100. 0 Total 30 100. 0 100. 0 The process of getting service is easy. Frequency Percent Valid Percent Cumulative Percent Valid Disagree 9 30. 0 30. 0 30. 0 Neutral 5 16. 7 16. 7 46. 7 Agree 16 53. 3 53. 3 100. 0 Total 30 100. 0 100. 0 Employees of MBL understand specific needs of customer. Frequency Percent Valid Percent Cumulative PercentValid Disagree 7 23. 3 23. 3 23. 3 Neutral 13 43. 3 43. 3 66. 7 Agree 10 33. 3 33. 3 100. 0 Total 30 100. 0 100. 0 Are you totally satisfied with the quality of service of MBL? Frequency Percent Valid Percent Cumulative Percent Valid Strongly disagree 2 6. 7 6. 7 6. 7 Disagree 9 30. 0 30. 0 36. 7 Neutral 14 46. 7 46. 7 83. 3 Agree 5 16. 7 16. 7 100. 0 Total 30 100. 0 100. 0 Page 52 of 53 Questionnaire for customer Satisfactions Level of MBL Dhanmondi Branch Dear sir or Madam: This is a questionnaire from Northern University Bangladesh to collect data on Customer Satisfactions of â€Å"Mercantile Bank Limited at Dhanmondi Branch†.All the data will be used for academic purposes and will be kept confidential. Please read the following statements which some people agree with and some do not. I would like to know whether you strongly agree(SA), Agree(A), Neutral(N), Disagree(D),or strongly disagree(SD) with each statement. There is no right or wrong answers. Please circle (0) the number that represents your opinion most correctly. SL. Measurement Scale SA A N D SD 01 Mercantile Bank use modern Equipment. 5 4 3 2 1 02 MBL provides service which is not provided by other bank. 5 4 3 2 1 03 MBL has friendly Environment. 5 4 3 2 1 04 Customer of MBL feel & Secure transaction. 4 3 2 1 05 MBL giving prompt service to customer. 5 4 3 2 1 06 Mercantile bank Service is better than other Bank. 5 4 3 2 1 07 Employees of MBL show sincere when customer face problem. 5 4 3 2 1 08 Are you satisfying the service of MBL? 5 4 3 2 1 09 Employee of MBL show equal importance to every customer 5 4 3 2 1 10 The process of getting services is easy. 5 4 3 2 1 11 Employee of MBL is very helpful. 5 4 3 2 1 12 Employee of MBL understand specific need of customers. 5 4 3 2 1 13 The knowledge of the bank? s personnel in answering customer questions properly. 5 4 3 2 1 Page 53 of 53 14 MBL having convenient operating hours. 4 3 2 1 15 Overall I am satisfied with quality of service of the Mercantile bank. 5 4 3 2 1 16. Why you choose MBL for your transaction: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Personal Information Gender: A. Male B. Female Age: A. 12-19 B. 20-34 C. 35-39 D. 40-49 E. 50-above Profession: i) Student ii) Business iii) Teacher iv) Service Holder v) Other†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Income: i) less than 5000 ii) 10000-25000 iii) 25000-40000 iv) 40000-60000 v) 60000-80000 vi) above 80000 Contact Info: Address: Mob:

IT project for Banking and Finance

This paper seeks to chronicle the history of information technology in finance from its infancy to the modern era with special attention place on the Caribbean experience. The paper therefore presents a summary of major (IT-based) innovations and an analytical framework with which to Structure an historical review Of how Information Technology innovations were adopted in the financial services sector and their impact.The early history of Information technology globally First wave From as early as 1846 the financial sector has been using Information Technology (IT), the history traces back to financial markets when the eelgrass was used to reduced stock price differentials between New York and regional stock markets. Information technology was later employed in 1866 with the transatlantic cable equally enabled greater integration of securities trading in New York and London (B;tic-Lazy, Wood 2002).Further integration took place as the completion Of the transatlantic cable reduced the time delay to execute a trade in New York, which had been initiated in London from six weeks to only one day. These early innovations were accompanied by statistically significant evidence that the introduction of primitive forms of telecommunication substantially educing or even eliminated foreign exchange and security price differentials between geographically distinct markets, (B;tic-Lazy, Wood 2002). Hence at that time information technology' reduced interest rate risk and operational risk for the institutions.In addition greater use of telegraph or telephone facilities also resulted in price related information becoming homogeneous by linking the head office with branches in different domestic and international locations or by providing dealers and banks with the same price information in a timely manner. Second wave A second wave of Information Technology innovation in retail finance began n the late asses with the introduction of computers. This introduction allowed instituti ons to keep up with growth in business volume while, at the same time, solve very specific problems and automate existing practices of specific departments.This resulted in the branch network quickly turning into the main point of contact with retail customers. A process-directed automation thrust dominated the specific application period and aimed at undercutting the cost of administrative tasks such as the labor-intensive cheese clearing systems. Computer applications were therefore concentrated n back-office operations (Morris, 1986), this was because it was felt that controlling a growing mountain of paperwork provided the potential for economies of scale at that time.As the benefits previously mention became apparent the incentive to automate at the individual branch bank level and to improve market-wide processes became greater. Technology further helped developed banks and took on the challenge of reducing cost and expanding their level of customer service and efficiency. In 1967 Barclay Bank (ELK) introduced the first Automated Teller Machine (ATM) in the world (Barclay, 1982) while IBM introduced the magnetic stripe plastic cards in 1969. These two innovations marked the birth of electronic banking.The chart of Figure IA on the following page shows this information. Use of Technology in the Organization, 1845-1995 (Figure IA) Impact on the Provision of Retail Finance Early Adoption Specific Application Emergence (1846-1945) (1945-1968) (1968-1980) Innovation in Reduction in Conversion from Growth of cross Service Offering inter-market price bank relationships. ATM introduced. Guaranty Automated bank statements. Operational border payment. Increased branch to Differentials. Cheese Automation of branch Functional cards.Reduce cost of coordination labor intensive head clearing system). Branches accounting. Innovation office and between n activities (I. E. Real time control begins. (Sources: Morris (1986) and Squint;s (1991)) In a nutshell, technological changes have spread throughout many internal aspects of the banking organization. During this period the convergence of telecommunications and computer power resulted in true Information Technology applications as the emphasis of technological innovations shifted from data processing to communications.The Evolution stage Electronic banking is an umbrella term for the process by which a customer may perform banking transactions electronically without visiting a brick-and- mortar institution. This form of banking became popular in the early ass it was facilitated by banks mailing their customers a floppy disk with software that the customer could install onto their PC and accessing their accounts from the privacy of their homes. ( Canasta Research on 07/02/2013). Initially this service was for a fee.Then in the mid ass a big leap occurred with banks setting up websites for consumers to access both product and contact information. Within a few years after internet banking functionality was launched, this made the process of doing your banking online easy and accessible to everyone. This form Of banking has emerged as an option to customers and was offered by Caribbean banks as well. The major benefit according to one survey is an estimated cost providing that the routine business of a full service branch in the USA is $1. 7 per transaction, as compared to 54 cents for telephone banking, 27 cents for ATM (Automatic Teller Machine) banking and 1. 5 cents for Internet banking (Nathan 1999; Pun et al. , 2002). However it is unclear whether cost savings ill be the primary benefit derived from the adoption of e-banking systems, as any cost reductions achieved may not be a source of sustained competitive advantage for individual commercial banks.Cost savings using e-banking techniques are generally easily replicated by competitors. Secondly, cost savings are also accompanied by reduced entry barriers or increased market transparency leading to a further intensification of competition, ( Belgrade, Paris and ward, 2005 Key technological changes in retail finance Year Name Characteristics Contribution 1979-1985 Telephone Branches retail Multi-channel distribution systemBanking UK, US intermediaries for banks base on an integrated customer account and information system ( Figure B) 1988-1996 Monde Cards (I-j) Debit card with re-writable Facilitate small value retail transactions micro chip with the potential to substitute central bank issued notes and coins 1989-1998 Digit cash (ML) Electronic only medium of Payment system and products that depend exchange and unit of account exclusively on only high-speed communication done through computers 1995-2001 Security First First intermediary working Technologies open new opportunities for Network Bank (US) through the internet. Ink growth and offer managers of banks possibilities to achieve high organizational flexibility Source (B;tic-Lazy, Wood 2002) The Barbados Experience Improvements In Barbados all ba nking institutions and major credit unions offer the most basic forms of e-banking. There is a well connected network of automatic teller machines (Atoms), telephone banking, debit cards, and electronic funds transfers (OFT). The majority of the ATM use in Barbados came about as a cost savings measure. Consequently, ATM banking has become the most popular form of electronic banking in Barbados, with even some non-bank entities costing similar services.However, the graduation to the next level of e- banking, Internet banking has been sluggish. According to ( Belgrade, Paris and Ward, 2005 ) the lack of advancement is for a number of reasons, one most obvious is a divide between customers who wish to use the technology and those who simply prefer traditional banking methods. However the increase in efficient by Automated Teller Machines can been seen in the graph below figure B Observation of Traditional and ATM banking: A Busy Day (No. F Customers per 30 Minute Intervals) Bank I 8 36 ATM I 10 90 15 Source: pa iris (2001 ) Traditional (Teller) A 5 c Within the back office operations of the institutions they have been major improvements across the banking sector, with the use (ARTS) Real Time Gross Settlement and, (ACH) Automatic Clearing House with increase capacity to process transactions. With regards to information systems Finance Core banking system is one of the information systems use as a customer management information system.The use of this system has allowed institutions to capture customer information which can then be used for the modeling of products to specific target markets base on the habits of the institutions clientele and overall profile. In accordance with the know-your- customer guild lines some Transactions Processing Systems such as Finance are even able to go a step further and record personal life events such as weddings, anniversaries and future plans of younger children and other personal information. Which all assist in the construct ion of products and services that will meet customer's needs at every stage of their life.Hence the (T AS) is used as a strategic management information system in some institutions. In addition to cost savings and increase capacity (IT) has brought about payment innovations such as Sure-pay in Barbados. Sure-pay is a payment undying service that allows customers to pay an array of their bills in one location. The company Sure-Pay began its service just offering basic utility payments, and eventually evolve into a well recognize efficient entity which at one time even offered a payment service for tickets for former airline Red Jet and has now expanded to Trinidad & Tobago.Risk The issue of capital flight and money laundering are real concerns that will surface with Internet-Banking, also the ability and cost of regulating this form of banking. This is especially so in an small open economy with a fixed exchange rate such as Barbados. For example if capital is allowed to leave at an rapid unregulated rate this could place pressure on the central bank's reserves which can have a negative effect on the exchange rate and cause the parity of the dollar to be threatened, especially in cases where settlement of the transaction will be require in foreign currency.With respect to money laundering if we look at Internet-Banking it is unique because it offers the user anonymity, rapid transactions speed and wide geographic availability. For those reasons the issue of depositing and withdrawing money in and out of the system is extremely important because t is easy for layering to occur. Encryption technology, fire walls and the use of digital signatures are extremely vital verification tools and should be standard operating procedure with this evolving technology.An added defense in breaches or affiliated criminal activities is that banks should adhere to the commonly cited know-your-customer guidelines. If properly implemented, within an effective operational and regula tory framework, such guidelines should prove pivotal in preventing these kinds of crimes. Future expectations The future of Information Technology and the financial service industry will only be limited by the imagination of those who use the technology, or the regulators who need to keep abreast of how new technologies will permit circumvention of the law.

Your organization has selected you to prepare and write a report to Essay

Your organization has selected you to prepare and write a report to assess the appropriate information needs of your company and to recommend the appropriate software to support those information needs - Essay Example A&F is a huge organization in the sense that, it has its headquarters in New Albany, Ohio where all the operations are run including merchandise distribution centre that are located on the campus to ensure that there is brand protection (EuroSPI 2010, & Riel, 2010, p.34). Therefore, A&F being a huge corporation it has an executive director that Arthur Martinez who ensures that the organization achieves its objective in the clothing industry. Additionally, there are other seven officials or directors of the organization. They ensure that the goals of the organization are met on time and that their clients are satisfied with the goods that are produced. The A&F has 1,049 stores all over the world where 278 of those stores are located in the United States. The stores operate all their four brands that include Abercrombie Kids, which sells clothes for children from the age of 7 through 14. Hollister Co. that sells clothes for children from the age of 14 through 18 and is themed as â€Å"SoCal† these clothes have lower prices compared to their parent brand. There is Gilly Hicks, which is a cheeky cousin of Abercrombie & Fitch that has been themed as â€Å"Down Under† Sydney. This concept brand offers lounge wear and underwear for women aged 18 and up. Lastly, there was the Ruehl No. 925, which used to offer clothes for women of the age of 22 through 35. However, the operations of Ruehl No. 925 closed in 2010. The organization uses brand representatives or what is commonly known to as models for their stores customers’ service. Additionally, their store managers who are responsible for lighting, photo marketing, forms, fragrance presentation and ensuring that the models employed to sell the organizations brand comply with what us known as the look policy. By so doing, the store managers ensure that their customers have a clear way of seeing how the clothes would look like if they were wearing them making it an

Organizational Structures Essay Example | Topics and Well Written Essays - 1000 words - 1

Organizational Structures - Essay Example Organizations use matrix structure when they need expertise that a functional structure offers along with the ability for coping with rapid changes occurring in a specific product line. The structure is superior to both the divisional and functional structures because it allows the functional and divisional aspects of organizational structures to simultaneously operate. The matrix structure is supported by rigorous planning between the functional divisions. For instance, the employees respond to both their line managers as well as their product managers. The matrix structure works well when there is pressure for sharing scarce resources across different product lines. It is also highly beneficial when the environment is rapidly changing and extreme predictive coordination is required across departments. Theoretically speaking, the balance of power between the products a functional leader is almost equal and a high degree of cooperation occurs between managers. It has the following st rengths: Strengths: It offers adjustable sharing of human resources across the organization. It has more flexibility to deal with complex decisions and offers a wider range of input. The matrix structure has the ability to cope with larger product range. Functional specialization can avail more opportunities compared to a divisionalized structure in the organization when the matrix form of structure is implemented. Weaknesses Sometimes the shared authority can create confusion and frustration.

PICO Assignment Example | Topics and Well Written Essays - 1500 words

PICO - Assignment Example To ensure patient satisfaction one of the emerging areas is practice of Evidence Based Nursing. This approach helps in framing of quality decisions and provides nursing care which is determined by personal clinical experience in combination with researched knowledge acquisition on the particular aspect of care giving. The objective of Evidence Based Nursing is to provide improvement in patient health and safety ensuring patient satisfaction. The process involves collection, analysis, and appraisal and action plan as per evidence based guidelines (Melnyk, 2011). Various forms of data collection both qualitative and quantitative are in practice to understand and formulate an action plan for a specific nursing oriented approach that helps to address the clinical problem directly or indirectly. The PICOT format has gained wide recognition in this evaluation process and is routinely implemented in clinical settings. The â€Å"PICOT† abbreviation is based on Patient Population (P), Issue or Intervention associated (I), Comparison group(C), Outcome (O) and the Timeframe associated (T) (Melnyk, 2011). Evaluating questions in this format helps to unfold treatment or care issues much faster to arrive at a particular solution. Further such approach is evidenced based and helps to identify the focused need of the patient, that can be addressed through supportive healthcare. For searching the relevant evidence, the key words of PICOT question are used to find the relevant studies from Journals, web documentations, clinical guidelines and expert experiences including self experiences. The evidence that is valued the most are the case controlled randomized studies and the meta-analysis. An extensive literature search coupled with personal experiences helps to identify the localized issues which help to formulate tailor-made solutions at the local level (Melnyk, 2011). One of the issues that I have identified during my practicum experience is the process of

Process Paragraph Essay Example | Topics and Well Written Essays - 500 words - 1

Process Paragraph - Essay Example This could be highly unsettling and make it difficult for people to adjust in the new place. The culture shock therefore becomes a key issues for migrating population which must be addressed to make their transition from one culture to another easier and friendly. Different language, laws and regulations, dress code, food etc. become crucial factors that inculcate a sense of homesickness, depression, isolation etc. amongst the immigrant population and travelers. Therefore, it becomes very important to have prior knowledge about the new country and its culture so that one is prepared for changes. All the people who travel to new country, especially those with different culture experience varying level of culture shock. When they are prepared for new experience, the culture shock is not so severe. But, nonetheless, it is a temporary phase but serious issue if not tackled early. Language and laws are major elements of discomfort. The diverse society with people having varying socio-cultural values highlights the contemporary dynamics of changing societal pattern across the globe. Overcoming culture shock by making adjustments within the evolving society therefore becomes hugely pertinent issue for peaceful co-existence. It necessitates understanding of cross cultural values and willingness to adapt oneself into new environment through different mechanisms of adjustment. Culture shock for people from Asian region and other developing economies, when they come to the West is considerably more than their European counterparts. The language, gender outlook, dress code etc. become critical aspects of cultural paradigms that evoke differing response. Language barrier is one of the most defining issues that plays critical role in overcoming culture shock. Thus, learning the language of the mainstream society of host nation becomes impartment part

Cultural Exploration Term Paper Example | Topics and Well Written Essays - 2250 words

Cultural Exploration - Term Paper Example These cultural patterns, which include beliefs, values, norms and social practices, do affect the quality of communication that takes place as the people from these different cultures interact. The result is either an enhanced quality of communication or a total breakdown in communication. To avoid this breakdown in communication, and to enhance the quality of communication between the different parties, it is very important for the two people who are communicating to be aware of the various attributes of the other culture. This way, mistakes that can be avoided and that can cause a breakdown in communication are identified. The cultural patterns of the two cultures might either lead to a competent intercultural communication or problems as far as the communication is concerned. This paper is going to examine the cultural patterns of two cultures and how the interplay between these patterns affects the intercultural communication of people from these cultures. The first culture is that of the writer, Southeastern Georgia Caucasian, and that of Chinese. Throughout this paper, the writer will be guided by one major objective. This will be the exploration of the various potential effects of the cultural patterns of Southeastern Georgia Caucasian and Chinese on intercultural communication between the two. To achieve the major objective, the writer will be guided by several specific objectives. It is through the address of these specific objectives that the writer will have effectively dealt with the major one. These specific ones are as follows: 1. An analysis of cultural value orientations of southeastern Georgia Caucasian and Chinese using the globe taxonomy approach 2. An analysis of verbal communication norms of the two cultures 3. An analysis of non-verbal communication norms of the two cultures 4. An analysis of relational communication norms of the two cultures The writer will not merely describe the cultural patterns of the two cultures picked. Rather, this will be a comprehensive analysis of the effects that the interplay between this set of pattern has on intercultural communication. Does it make it more productive or does it make it less productive and problematic 1: Cultural Value Orientations of Georgian and Chinese Cultures This analysis will be conducted using the GLOBE cultural taxonomy approach. This approach identifies nine dimensions of culture that are regarded important or ideal in a particular culture. These nine dimensions are a description of what people actually do, or what Millet (1) refers to as cultural practices. They also identify cultural values or what is regarded as ideal practice or conduct in the society under examination (Millet: 1). Power Distance Dimension Power distance dimension describes the degrees to which members of the society that are less powerful both "expect and accept that power is distributed unequally" (Leadlay & Jomy: 38). It is a fact that in any one society, there are differences in the distribution of power, resulting in powerful individuals and less powerful ones. But the differences between the societies occur because, to some, as much as the power

Critical Article Review Example | Topics and Well Written Essays - 1250 words

Critical Review - Article Example In order to understand this to a more effective and complete degree, the following analysis will discuss the means through which the public school system within the United States experiences what is known as fiscall limitation with regards to the provision of local education. This limitation necessarily refers to the way in which secondary education within the United States is overly reliant upon regional funding; thereby evoking a situation in which disparity is more readily reflected within the educational system as compared to how it would be in a situation in which the federal government itself was responsible for funding the process (Clemings, 2006). Through such analysis, it is the hope of this author that the reader will gain a more informed understanding of how the educational system work in the United States, what determinant factors constrain it, and how improvements with regards to the shortcomings that have been previously mentioned might be affected within the future. Th e particular piece in question first references the fact that a case study which will be performed is concentric upon the state of California. Naturally, this choice of tests case analysis is especially important and useful due to the fact that California is the largest state by population and represents perhaps the greatest level of regional diversity that any state within the system has to offer. As such, the article itself increases the level of believability and relevance due to the fact that it has chosen to analyze the most diverse and populous state as a means of proving the fact that regional and state funding alone is ultimately a limitation to the way through which education can be provided to the end student (Wassmer & Fisher, 1996). Accordingly, the first main argument that is made is with regards to the limitations upon maximum and minimum millage rates with regards to property taxes (Winkler, 2009). Such an in-depth primary approach has to do with the fact that the Uni ted States education system disproportionately targets as one of its main funding streams property taxes. In such a way, the authors reference the fact that disparity is innate within the system due to the fact that income from property taxes is a direct means through which the poorest regions will have inordinately less funding to allocate as compared to the richer regions. Although the casual observer might be quick to point out that millage rates within the poorest regions merely be increased as a way of generating further revenue for the school systems, this does not reflect a level of fairness and ultimately punishes the poorest property holders within a given region (Ellis, 1976). Similarly, the authors target the fact that the poorer regions within California, the state in question, reflect a greatly increased percentage of renters as compared to other regions throughout the state. The increased percentage of renting families means that this funding stream ultimately begins t o dry up and disappear with respect to an ever increasing percentage of poverty that may be exhibited. Further focusing upon the issue of property tax, the authors discuss the minimum and maximum limits on the property tax rate with respect to what is deemed as a â€Å"per pupil limit† many individuals outside the education system are wholly unaware of the fact that such

Case Study Essay Example | Topics and Well Written Essays - 750 words - 1

Case Study - Essay Example This paper will give an introductory overview and organizational structure of the company, explaining how the four principles of management are used in the company as expressed by a former employee of the organization. Formed in 1974 with the merging of British European Airways Corporation and British Overseas Airways Corporation, BA benefited in 1976 when the UK government changed the aviation policies to end competition from British Caledonian, which was the second largest British Airline at that time. BA was later privatized in 1987, and merged with Iberia in 2011 (Buckingham 14). At the beginning of 2010, the organization had over 41,000 permanent employees. Prior to the 2011 merger, BA was strategizing on how to create a leaner organization that had a distinctive and high-performing culture through their flagship programme of change, which they named Compete 2012. The programme was to transform the airline over a three year period and help them achieve their vision of the leadin g premium airline globally. It was to impact on their ways of interacting with each other, how individual performance would be measured and promotions conducted and create a platform for developing and rewarding talent. Coupled with BA’s commitment of being a responsible organisation, the programmes were also intended to achieve environmental targets while putting relationships with vital suppliers on a new scale and carrying on with the tradition of promoting communities in creative ways. To achieve the planned Compete 2012 strategies, BA restructured its top management in 2008 with a third of the team leaving under a voluntary retrenchment scheme. At the same time, the organization was redesigned to promote better leadership, governance and customer focus, making it more efficient. The restructuring also encouraged more employees to shift between functions and gain more experience while finding better outlets for their skills. With the understanding that a frontline global premium organization has to be effective and bold in developing potential and current leaders, the airline introduced the High Performance Leadership (HPL) system in the same year (Buckingham 23). The HPL was an integrated system that linked objective setting, business strategy, reward and development. Initially focused on top management, the system had a thorough assessment mechanism designed to identify gifted leaders and present them with appropriate support and tools to grow the development. The airline also outlined, communicated and started measuring personal performance of employees against three capacities thought to be essential in leaders, on top of operational excellence. They included communicating a shared vision, inspiring and motivating others and agreeing accountabilities. Leadership is executed from the top, which previously had nine directorate heads under the leadership of the Chief Executive (Johnson, Scholes &Whittington 11). It is presently split into two teams ; one under the Customer and Operations Executive, and the other under the Management Board. The Management Board, with weekly meetings, is charged with the organization’s strategic direction and vision. On the other hand, the Customer and Operations Executive team, also with weekly meetings, accounts for the day by day safety standards, operational performance and customer service. The director of security and safety as well as the legal director report to the Chief Executiv

Sustainable Tourism Essay Example | Topics and Well Written Essays - 500 words

Sustainable Tourism - Essay Example However, a decline in the tourism industry has been seen. It may be because of the declining consumer trend towards tourism due to the financial crisis. The industry is also helping in creating possibilities of low cost tourism that accommodates people from different phase of lifestyles to enjoy the beauty of nature. The tourism industry of Malaysia is said to be the second highest contributor in the Malaysian economy, which helps in generating foreign exchange as well as creates job opportunities for the locals. Malaysia is less developed as compared to other tourism places of the world, but Malaysia is renowned for its niche tourism due to world events and marketing strategies, which are employed. The Malaysian tourism can be improved; therefore, a report on ‘Sustainable Tourism Development’ is given to provides an in-depth view of the issues and gives a measure to deal with such issues which cater the heavy tourism industry of Malaysia. The report provides a stakeholder inclusive model which helps in resolving skirmishes between the local, national and international authorities. This model also provides realistic approaches, which are mandatory for the formulation planning and development process. The report gives a brief overview about the bodies, which are responsible for organizing and running the tourism industry of Malaysia. The repot discusses principle of planning as its core segment. The planning of tourism in Malaysia is done with highlighting the upcoming five years. This five-year plan includes the aim of developing and rehabilitating the tourism industry as it is the second highest contributor to the Malaysian economy. Then the principle of planning discusses its second part, which is the national ecotourism plan (Warn 2010). It is aimed at providing suitable strategies, which help in developing the tourism on the basis of sustainability factors with relation to ecotourism. The third part of

Gun Ban in America Essay Example for Free

Gun Ban in America Essay In 2012, the most serious topics that people always talking about is Gun ban. Most of people voted for ban guns after the Connecticuts shooting incident. There are lots of children died in the elementary school, and Americans realized the bad effects about selling guns legally in many states. There are at least four shooting incidents each year. People may think it is the time to ban Americas guns now, but in fact it is not the guns fault. For my part, guns should not be banned, and people have the right to have guns ownership. Most people know that guns are one of Americas culture, just like the marijuana. People know what are illegal things, but they will still find a way to obtain them. So, banned guns cant prevent criminals. If the guns banned, criminal can still use other weapons to kill people. For example, in 1976, Washington DC is illegal to own any handguns or to keep any type of guns in home unlocked. However, Washington DC has the most criminal rates in united states. Whenever the guns is illegally, criminals can make any weapons, such as bombs, criminals can make bombs by themselves. Most of time, its the personals problems, criminals who caught by police always have mental ill or they dissatisfying about this country. Therefore, Government need strength the gun education and some safety classes about using guns. Ban guns is not a good solution, because the problem is not about guns. In addition, ban guns means remove the right to someone. In America, people are highly regard human rights. Giving up rights to bear arms would open up a world of control and unnecessary chaos. Some people have guns just for hunting, and they think guns are useful. Some of gun owner using guns in shooting range, they think it is their entertainment. Although, some cities made the announcement of gun ban, people were still reluctant to hand over their guns to Government. If the states that they live have banned guns, they can still go to another states to obtain another one. As part of Americans culture and freedom, it is impossible to ban guns exhaustive because of the different constitutions between states. Finally, the last reason that guns should not be banned, because guns can protect people. Except this criminals, most of people know how to use handguns, and they are using guns to protect their families. What if someone invade their house and pointing a gun at them, they can not wait until the police come. If that happens, no one will be safe. If a person wants to kill people, he will think all the way to hurt people even he did not have guns. However, what if the normal people does not have the guns to protect them when they meet some incidents. Guns always give people a sense of security, even they just locked them at their house. In conclusion, ban guns is not a big deal in America. According to Washington DCs criminal rates, it did not decrease the criminal rates at all. In some cities of America, restricted legislation could not restraint people to crime. Gun ban is only for temporary and it is not a permanent solution to this problem.

Dermatoglyphic Patterns with Rampant Caries

Dermatoglyphic Patterns with Rampant Caries A Twin City Study Correlating the Dermatoglyphic patterns with Rampant Caries and Early Childhood Caries Abstract : Background and Aim : This study was undertaken to investigate and analyze the correlation between dermatoglyphic pattern and caries prevalence in young children in twin cities of Pune and Mumbai. Materials and methods : Two centers were selected in Pune and Mumbai . A total of 300 patients (150 patients in each center) were included in this study. The mean age ranged from 3-5 years. The samples were divided into two groups; Group I: Caries and Group II: caries-free groups.Group I was further divided into children with early childhood caries and children with rampant caries Dental caries were detected clinically using mouth mirror and probe(only to remove debris not probed into the fissures) in daylight or suitable light source. Fingerprints were obtained by the conventional ink method .Statistical analysis using the students t-test was used to determine mean values and gender differences in the findings using SPSS version 11.0 Results : The evaluation and comparison of patterns in children with caries and caries-free children in both right and left hands showed increase in the number of whorls in children with rampant caries as compared to children with early childhood caries. However , this was not statistically significant. Conclusion : The present study showed a definite variation in dermatoglyphics between the ECC ; rampant caries and caries-free group .However the rampant caries group showed more number of whorls as compared to the earl childhood caries group but they were statistically insignificant .Dermatoglyphics has proven to be an extremely useful, non-invasive and cost-effective tool for preliminary investigations into conditions with a suspected genetic base like dental caries. Keywords : Dermatoglyphics , rampant caries , early childhood caries. INTRODUCTION : The word dermatoglyphics comes from two Greek words (derma, skin and glyphe, carve) and refers to the friction ridge formations which appear on the palms of the hands and soles of the feet .(1) Dermatoglyphics is the scientific study of fingerprints. Since each person’s fingerprints are unique, we can understand one’s innate potential, personality, and preferences by analyzing dermatoglyphics. Dermatoglyphic patterns are highly variable from person to person, while genetic aberrations generally produce consistent phenotypes. A twin-city survey was conducted in Mumbai and Pune reviewing a total of 300 children. Twin citiesare a special case of twocitiesor urban centres that are founded in close geographic proximity and then grow into each other over time, losing most of their mutual buffer zone.Cities twinned by proximity do not necessarily match demographically, economically, or politically . The main focus of dermatoglyphic study is in the papillary ridges, the small markings that make up your fingerprints and exist on all primates skin. The formation of these papillary ridges occurs during a short window of development (2), and is influenced by a combination of genetics and the environment in utero. Being affected by the environment at such a time means thatmonozygotic twinswould have different dermatoglyphic markings .(3,4,5) The ridges do not change over post-natal life, which lends itself into forensic uses. The twin city survey was undertaken to evaluate the fingerprint patterns of children with dental caries ( Study groups-rampant caries versus early childhood caries ) and caries free individual (control group). Materials and Methods : Two centers were selected in Pune and Mumbai . A total of 300 patients (150 patients in each center) were included in this study. The mean age ranged from 3-5 years The samples were divided into two groups; Group I: Caries and Group II: caries-free groups.Group I was further divided into children with early childhood caries and children with rampant caries. Dental caries were detected clinically using mouth mirror and probe(only to remove debris not probed into the fissures)6 in daylight or suitable light source. Finger and palm prints were recorded using the ink method described by Cummins and Midlo.1The hands of the children included in this study were washed with soap and water to remove dirt and oil from the ridged skin and blot dried to improve the quality of the prints . Statistical analysis using the students t-test was used to determine mean values in the findings using SPSS version 11.0 Recording Interpretation of Dermatoglyphic patterns : Fingerprints : The fingerprints of all subjects were recorded using black duplicating ink ,the fingers were uniformly pressed on the ink pad after which the digits were pressed firmly against the white paper by the operator to avoid bias . The fingerprints obtained were checked for their clarity with a magnifying glass (Ãâ€"2) . INTERPRETATION OF HANDPRINTS The handprints were observed in a sequential manner under a magnifying glass with Ãâ€"2 power, from the left hand 4 th digit until the thumb followed by the thumb of right hand until the 4 th digit. This study included qualitative analysis that is the fingertip patterns (Loops, whorls,arches) The frequency of true patterns of loops, whorls, and arches was counted on the fingertips of all the 10 digits of children in all the groups. They were assessed for increase or decrease in mean frequencies. QUALITATIVE DERMATOGLYPHIC ANALYSIS Type of dermatoglyphic pattern Different types of dermal patterns were identified .(7) A loop is recognized as a series of ridges that enter the pattern area on one side of digit, recurves abruptly and leaves the pattern area on the same side. A single triradius is present, which is located laterally on the fingertip, where the loop is closed. If the ridge opens on ulnar side it is called as ulnar loop and if it opens toward the radial side it is called as radial loop. A whorl differs from the loop in the aspect of concentric arrangement of ridges, with two or more triradii in the latter. A whorl may be spiral, symmetrical, double looped, central-pocketed or accidental, depending upon the internal structure of the whorl pattern. In all the dermatoglyphic patterns seen, arches show the simplest ridge pattern, which is formed by the succession of one or more parallel ridges, which cross the finger from one side to the other without recurving. These patterns usually do not show the presence of triradii, except when the tented arch is present that will have a triradii point near its midline. RESULTS : Statistical results were obtained by one-way analysis of variance (ANOVA) with Post-Hoc Tukey’s correction for multiple group comparisons . The average no. of loops did not differ significantly between ECC and Rampant caries group (P-value>0.05). The average no. of loops is significantly higher in control group compared to ECC and Rampant caries group (P-value0.05). The average no. of whorls is significantly higher in ECC and Rampant caries group compared to Control group (P-value0.05 for all). Table 1) The intergroup comparison of finger print pattern. Values are Mean  ± Standard Deviation. P-values by one-way analysis of variance (ANOVA) with Post-Hoc Tukey’s correction for multiple group comparisons. P-value Figure 1 The intergroup distribution of finger print pattern (Right+Left). DISCUSSION : Widespread interest in epidermal ridges developed only in the last several decades when it became apparent that many patients with chromosomal aberrations had unusual ridge formations 10. Dermatoglyphic patterns make good material for genetic studies, because unlike stature, intelligence, and body weight, they are not significantly influenced by age or by postnatal environmental factors. 8,9,10 Dermatoglyphics have the advantage of remaining stable throughout life and therefore can be compared among individuals of different ages. The basis of considering dermatoglyphic pattern as genetic marker for dental caries is that the epithelium of finger buds as well as enamel which is the most susceptible dental tissue to dental caries have ectodermal origin and both develop at the same time of IU life.12 In this study , the evaluation and comparison of patterns in children with caries and caries-free children in both right and left hands showed increase in the number of whorls in children with rampant caries as compared to children with early childhood caries. However , this was not statistically significant. These results were substantiated by Atasu et al. who found an increased frequency of ulnar loops in caries-free children and an increased frequency of whorls in children with dental caries. The majority of whorl patterns in the control group were spiral while the caries group showed spiral, central pocket and double loop . Arches were least common patterns in both the groups.13,14 A definite correlation in the dermatoglyphic patterns between children with caries and caries-free children can be seen in this study. Thus, recording the dermatoglyphic patterns of children at an early age, during their first dental visit will be handy in predicting whether the child belongs to the high risk group or the low risk group and thereby can aid in planning a definitive preventive and treatment strategies. CONCLUSION : The dermatoglyphic patterns may be utilized effectively to study the genetic basis of dental caries. In a developing country like India , it might prove to be a non invasive , inexpensive and effective tool for screening . These patterns may represent the genetic make up of an individual and therefore it suggests an individual s predisposition to certain diseases . Since dermatoglyphics is still an counterfactual and imprecise science at the present time, it requires further extensive research to ascertain the significance of these variations in the dermatoglyphic features of children with dental caries . REFERENCES : Schaumann B, Alter M. Dermatolglyphics in Medical Disorders. New York, Heidel Berg, Berlin: Springer-Verlage; 1976. p. 14-75 Uchida JA, Solton HC. Evaluation of dermatoglyphics in medical genetics. Pediatr Clin North Am 1963;10:409-22. Pons J. Genetics of the A-B ridge count on the human palm. Ann Hum Genet 1964;27:273-7. 8. Venkatesh E, Bagewadi A, Keluskar V,Shetti A. Palmar dermatoglyphics in oralleukoplakia and oral squamous cell carcinoma patients. Journal of IndianAcademy of Oral Medicine and Radiology 2008;20:94-9. Hirsch W, Schweichel JU. Morphological evidence concerning the problem of skin ridge formation. J Ment defic research 1973;17:58-72. Penrose LS. Fingerprints, palms and chromosomes. 1963;197:933-8. Cummins. Revised methods of interpretation and formulation of palmar dermatoglyphics. Am J Phy Anthr 1929;12:415-502 Cummins. Study of error in interpretation and formulation of palmar dermatoglyphics. Am J Phy Anthr 1928;11:501-21 Okajima M. Development of dermal ridges in the fetus. J Med Genet 1975;12:243-50. Carter CO. Genetics of common disorders. Brit Med Bull 1969;25:2-57 Matsunaga E. Hereditary factors in congenital malformations. Igakunoayumi 1977;103:910-5 11. Verbov J. Clinical signifi cance and genetics of epidermal ridges-A review of dermatoglyphics. J Invest Dermatol 1970;54:261-71. 12. Madan N, Rathnam A, Bajaj N. Palmistry: A tool for dental caries prediction Indian J Dent Res 2011;22:213-8. 13. Atasu M. Dermatoglyphic fi ndings in dental caries: A preliminary report. J Clin Pediatr Dent 1998;22:147-9. 14. Ahmed RH, Mohammed I. Aref, Rania M Hassan and Noura R Mohammed. Dermatoglyphic study on patients with dental caries restored with dental fi llings and its correlation to apoptosis induced by dental fi llings. Nat Sci 2010;8:54-7.