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MY LEARNING AT UBL

Truthfully speaking every thing was new to me in United Bank limited though I have a good Bookish knowledge but truthfully speaking it was totally different from the Bookish knowledge of the banking sector. But with the grace of Allah almighty I have worked in every section of the UBL and I have learned lot of new things from this learning. And I really believe that this learning would be very helpful for me in my future practical life.
WHAT I LEARAND DURING INTERNSHIP

Everyday during the time of internship was a new day for me with lot of new things. During the time period of six weeks internship I worked in almost every department of bank and I learned that every department has differed story and different type of work. ACCOUNT OPENING SECTION I spent many days in account opening section. As the area where I did my internship, the people are not well educated that is why whenever a person will come for opening an account than the manager referred that man towards me. Than I guide that man and the form of opening an account will be filled by I and the entire legal requirement are completed by me. In past the UBL use and the old type of firm but now it is using a new firm of opening an account. And according to the instructions of SBP each and every type of information of customer should be taken by the bank. CLEARING SECTION I also work in clearing section during my work I learned how to collect the different cheques of different Banks. Then I learned how these cheques of different Banks mutually transfer. Now-aDays this activity is done through NIFT. It is an institution which is providing services to almost all the banks of Pakistan. It is short for National institute of fund transfer. In short it works as clearing house. REMITANCES SECTION I also worked in remittances section .in remittances section I learned how to transform the money from one place to another place. I also learned that Remittance department is responsible for

money transfers, issuance of pay-orders & drafts, collection items, maintenance of cheque books & ATM cards and all other counter specific products and services.

DEPOSITS SECTION
I also work in deposit department and I learn here the primary function of United Bank Limited is to accept and receive surplus money from the people, which they willingly deposit with the Bank. And I saw that like all other Banks, UBL also take incitation to attract as much depositors as it can. The deposit department accepts/collects deposit from accountholders. The UBL offer different deposit schemes to its customers, which includes the following: 1) Current Deposits 2) PLS Saving Deposits 3) Term Deposit Account ( Fix Deposits) 4) Foreign Currency Deposits
ADVANCES SECTION

I worked in another main department of UBL which is advances department. Here I learn that it receives application from intending borrowers. After receiving application the advance department processes it further. After analyzing and detailed investigation, they decide whether to approve the loan or not. Some loan approvals are made by the Manager of the branch within his powers as prescribed by the banks higher authorities, while some loan applications are submit to higher authorities for their approval.
ACCOUNT SECTION

In this section I learn that account department is one of the most important department of UBL. Without this department no bank can be run or no bank can get success. This department is basically concerned with processes and activities of recovering, sorting, summarizing and reporting data resulting from the whole day transactions of all the departments. During these six weeks I try my best to learn each and everything and every point in the bank and about the bank.

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