How CNIC is verified?
CNIC is verified by NADRA verification (valid id or not ,fake id or real id )
Where it can be checked that the CNIC of the customer is fake or not?
By checking validity date of CNIC and through NADRA verification
If any one have photo account then any one can go in customer behalf and take the amount on customer behalf
No, photo account person personally came in to the bank for withdraw of the money
Which accounts are mostly opened in your branch?
Current and PLS account
Uneducated person can't open current account or the person whose signature is shaky.
Current account minimum balance
Minimum balance =5000- if less then every month deduction of 50 rupees and plus 8 FED deduction total deduction =58 Rs
What the deference between services and sales?
Sales pertain to the physical selling of goods. Goods may be manufactured or they may be bough for reale at a higher price. Overall it means selling something tangible.
Banks provide services in the form of opening your account, maintaining your account details and balance, offering you loans, enabling you to transfer funds etc. The bank does not proide anything tangible to you.
What is bearer cheque?
Cheque is of two types, either bearer or order. In case of bearer, the cheque amount may be paid to anyone. In case of Order, only the person whose name is written on face of cheque may receive payment.
What types of accounts there is NBP.
- Current account
- PLS savings
- BBA
- PLS term deposit
Name of the foreign currency which banks deal
- Pakistani
- US$
- GBP
- EURO
- JY
Can you explain the purpose of leverage ratio?
Leverage ratio measure the degree of protection of suppliers of long term funds.
Ratio used to calculate the financial leverage of a company to get an idea of the company's methods of financing or to measure its ability to meet financial obligations.
The most well know financial leverage ratio is the debt to equity ratio.
What does gearing ratio mean?
A general term describing a financial ratio that compares some form of owner's equity to borrowed funds. Gearing is a measure of financial leverage, demonstrating the degree to which a firm's activities are funded by owner's funds versus creditor's funds .one example of gearing ratio is long-term debt /capitalization ratio
What is purpose of activity ratio?
Activity ratio measure a firm ability to convert different accounts with in their balance sheets in to cash or sales
Disadvantage of current ratio if it is high
If the current ratio is too high, then the company may not be efficiently using its current assets or its short-term financing facilities. This may also indicate problems in working capital management
Why acid test ratio is called quick ratio ?
Acid-test or quick ratio or liquid ratio Measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately. Quick assets include those current assets that presumably can be quickly converted to cash at close to their book values.
What is the composition of equity?
Share capital +reserves +upappropriated profit
Unappropriated profit
Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt .unappropriated profit is part of shareholder equity also called earned surplus or accumulated earning or unappropriated profit
Explain these terms quickly
SS card: Specimen signature card
LC: letter of credit
BBA: Basic Banking account
KYC: know your customer
What is composition of total assets?
Current assets +fixed assets
From where dividend is taken
From statement of change in equity
Debt ratio it should be low or high which is good for the bank?
Bank working is different if it is high it is good for the bank
Deposits are the liabilities then deposits should increase or decrease which is better?
It should be increase it is always good for the bank
How u calculate the EBIT?
EBIT =profit before tax+ interest expense
What is the main liability of the bank?
Main liability of the bank is deposits of the customers
Its major liabilities are its deposits and the money that it borrows
What is standard ratio for the current ratio?
Standard ratio for the current ratio for bank is 1.5:1
Define the sale of Banks and its integral parts?
Sales of Bank include
Banks provide services. In this connection, there are no sales, but rather income generated from providing services. These include
Mark-up on loans (Interest Income)
Commssion on Remittances (DD, PO, Online Fund Transfer, Foreign TT)
Commssion on Letter of Credits and Letter of Guarantees.
Intercity clearing n local clearing?
Intercity charges deduction (Postage ,FED and commission )
Local city ---no deduction
Local clearing is when a cheque/ DD/ PO is presented within the geograpghical linmitations of a NIFT Centre.
If the NIFT centre is different, Clearing is called Intercity Clearing.
NIFT –Clearing house (National Institutional Facilitation Technologies (Pvt.) Limited)
It is responsible for the establishment and management of automated clearinghouse facilities in Pakistan
NIFT performs the clearing functions it receives cheques from different branches of different banks and processes the all cheque and prepares the debit and credit clearing returns and sends the same to state bank of Pakistan to debit and credit the account of the different banks maintained there.
If Asset is exit in terms of cash so it is favorable or not?
In the short term cash is beneficial for the working of the company. However, cash itself is an asset but there is no return on cash. Hence it must be invested where it brings profits and returns. Hence retention of and Asset in cash is not favorable
Not all assets can be used to earn income, because banks must have cash to satisfy cash withdrawal requests of customers primary key to using asset management to provide liquidity is to keep both cash and liquid assets a bank must maintain a certain level of cash compared to its liabilities to maintain solvency
Efficiency
Efficiency" refers to the bank's ability to generate revenue from a given amount of assets and to make profit t from a given source of income
Which one is the most important procedure in account opening department?
The most important procedure is verification of credentials of the account opened and Know Your Customer. The bank must know what the customer is doing, what qualification he has, the amount of funds to be debited/ credited and most importantly the source of funds.
KYC
The bank must know what the customer is doing, what qualification he has, the amount of funds to be debited/ credited and most importantly the source of funds.
How many type of financial statement
There are four type of financial statement
v Income statement
v Statement of owner's equity
v Balance sheet
v Statement of cash flow
What is LC ?
A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.
Letters of credit are often used in international transactions to ensure that payment will be received. Due to the nature of international dealings including factors such as distance, differing laws in each country and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade. The bank also acts on behalf of the buyer (holder of letter of credit) by ensuring that the supplier will not be paid until the bank receives a confirmation that the goods have been shipped.
How many kinds of LC?
There are several types of letters of credit. The differences are found in the wording.
Revocable versus Irrevocable
You should always insist and carefully check that a letter of credit is irrevocable. Once an irrevocable letter of credit is open it cannot be changed without the written approval of all parties including the beneficiary(recipient). A revocable letter of credit can be change or withdrawn without notifying the beneficiary.
Confirmed versus Advised
Confirmed is preferred, as the Confirming Bank promises to pay. Advised does not guarantee the creditworthiness of the Opening Bank.
Straight versus Negotiation
A negotiation letter of credit can be presented to any bank. A straight letter of credit can only be paid in the country of the Paying Bank.
Sight versus Usance
At sight means the Beneficiary is paid as soon as the Paying Bank has determined that all necessary documents are in order.
Usance time can be between 30 and 180 days after the bill of lading date.
This is a form of delayed payment, and should be avoided
What is general and special crossing?
Gernaral crossing means putting two transverse line across the face of the cheque and using either the words "& Company" or Account Payee Only.
Cheque with general crossing is transferable to another party or person
Special Crossing is done by the Bank by putting its name across the face of cheque to show that it has authenticated the instrument and all particulars are correct. Pay to the account payee only
Difference between Demand draft and pay order
Both are remittance instruments. However, the main difference is that DD is only payable on the branch on which it is issued. On the other hand Pay Order is payable only at the branch from where it is issued
Cheque n DD difference how DD is safe mode of payment.
Cheque is only payable out of account of the account holder, whereas in case of DD, the account holder or soemone who has deposited money and the bank has trnasferred the funds to the branch on which the DD is drawn.
DD is safer as it is an order to pay on demnd and may only b payable to the person on whom it is drawn. Furthermore, DD may be cancelled in case it has been lost, wheras in case of bearer cheque, it may be encashed by anyone.
What is clearing stamp n why we put this stamp?
Clearing stamp is used when a bank prsents a cheque to another bank. The date on clearing stamp is that date on which the instrument will be received from the presenting bank to the bank on whom the cheuque has been drawn. In case the date is different on cheque from the date on which presenttaion of the cheque has been made, then the bank will not honour the cheque.
Why banks can't calculate quick ratio?
Banks calculate the quick ratio but in case of bank there is no inventory bank is a service provider organization for calculating quick ratio bank includes its prepayment for the calculation of quick ratio instead of inventories .Inventory includes in manufacturing firm (raw material, work in progress, finished goods)
What is crossing?
Crossing means putting two transverse lines across the face of the cheque
What is mean of these two parallel lines?
Cheque is crossed and the holders cannot receive payment
When a customer come for account opening what are the requirements?
Requirements
v Copy of CNIC
v Family member CNIC (copy)
v If salary person (service card required)
v Two passport size photograph (if signature of shaky)
v 2 signature On SS card
v Signature on account opening form (filling account opening from and next of kin information )
v Initial Deposit of cash
Why we need to scan the SS card ?
To verify the specimen signature of the customer at the time of cheque payment
What sort of info required in KYC to fill up ?
Customer type (walks in, marketed or referred by)
Personal information of customer (education, social status)
Purpose of account opening (salary /pension withdrawal or personal saving)
Sources of funds (salary or business income or agriculture or home remittance)
Expected monthly income
Usual mode of transaction ( cash /with drawl or remittances or clearing or collection or other )
Max expected transaction amount :
Real beneficiary of the A/C (if different from the account holder
Have any software which is use in Accounting and finance department of your organization
There is not software use in the organization
Bank use BBO
Now bank use EBS (electronic banking system)
SS CARD how to fill it?
2 signature, name of customer and father name, and account number
What you know bout differed tax
FED tax
Withholding tax
What is DD
Demand draft is a popular mode of transfer. The customer fills the application form. Application form includes the beneficiary name, account number and a sender's name. The customer deposits the amount of DD in the branch
DD are of two types.
Open DD: Where direct payment is made.
Cross DD: Where payment is made through account
What is inward and out ward clearing?
Inward clearing – means the cheque received by the bank from the other banks
Outward clearing - cheques that the bank has delivered to other banks
The bank uses this book for the purpose of recording all the cheques that are being received by the bank in the first clearing. All details of the cheques are recorded in this book
The bank uses outward clearing register for the purpose of recording all the details of the cheques that the bank has delivered to other banks
What are operating fixed assets ?
Cash and balances with treasury bank
Balances with other bank
Lending's to the financial intuitions
Investments
Advances
Operating fixed assets
How banks done its operations in effective manners:
Bank done its operations in effective manners by satisfying its customers
Call account
use for auctions(security for auctions )
Over draft account
If the customer account is debited 12,000 instead of 1,200. Then its mean that customer account is overdraft (OD)
Cheque book issuance fully detail
Customer fill an application for cheque book issuance –printed form of application are also available in organization.
Account no, date, signature, customer name fill in the form
This info send to head office, head office print the cheque book and send to the branch and branch take signature of the customer on the ledger before giving him cheque book and issue the cheque book
BBA account and PLS account difference
In BBA account no service charge and other deduction account for those peoples who cant pay service charges
PLS no deduction of service charge profit is paid after every six month
Current and term deposit
Current account ---in which no profit and no loss (no deduction no profit)
Term deposit –fix the amount –if term deposit is for 7 days then the bank pay profit to the customer after every 7 days. 3 month then pay profit after every 3 month if for 3 year then pays profit for every 3 years
What is meant by next kin?
Mean the relatives / friends or family members if case of account holder absence bank can contact next of kin that account holder mentioned in the form
Recording of new account on ledger procedure
Name
Father name
Address
Contact no
Account no
Opening balance
Minimum amount required to open an account
No limit for opening an account can be open with 100 Rs ALSO , account can be open with zero rupees e.g. government order to open an account on the name of flood relief fund government not deposit any amount in the bank
What type of people open their accounts in NBP
Business person
Student
Salary person
Farmers
Person whose receive home remittance
Tell the range to debt to equity ratio, if debt is 10% and equity is 90% then whether it is favorable or not ?
It is favorable for the organization
What are sales of bank?
Banks provides service there are no sales of bank
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