Importance of Internship experience:
My internship experience was remarkable during my internship I observed following points: ➢ Internship provides you practical learning along with your bookish knowledge that you got from the university. ➢ Internship polishes your skills
➢ Concepts become clearer and you will feel the difference between your past learning and this practical work. ➢ Increase in the confidence level and your mental approach become extensive. ➢ Dynamic thinking becomes part of your daily life during this period of internship period and that reflect changes in your life as well. ➢ “Think out of the box” more you have question answerer section your mental approach become versatile.
Aims and Purpose of Internship:
• One of the major aims of internship to make student under all those concepts that we lean in university are almost same to the practical working in any organization.
• Interaction of students with the working environment of organization and make student to a good observer, communicator, build confidence and face different sort of challenges but more focused on the learning process. • Creating PR (personal relations) because on the bases of PR more chances of progress no matter which ever field you chose for you career.
Limitation during internship:
Following are the limitation that I observed during my internship: ➢ No entrance in the cash counters because this area is very sensitive and only the cashier is allowed no other staff member. Cashier’s major responsibility is to balance the cash at the end of day. When the cash is balance then other task can proceed such as
• Run the day end
• Backup of after, before, offsite and week end day. • Print all the sheets
• Send data to IT department
• Keep back up in order to maintain hand copy of data.
➢ Online banking system for the entry of transaction was limitation because every employee is responsible for his/her assigned task. In case if any wrong entry is made then this will out the cash balance and create problem at the end of day. ➢ Prohibited area was strong room where vault register and cash is kept only three employees are allowed who got the keys of strong room i.e Manager, operation manager and the casher. ➢ Not allowed to fill the blank cheque for the customer.
Background /review of the industry:
Before independence on 14 August 1947, the Reserve Bank of India (central bank of India) was the central bank for what is now Pakistan. On 30 December 1948 the British Government's commission distributed the Bank of India's reserves between Pakistan and India - 30 percent (750 M gold) for Pakistan and 70 percent for India. The losses incurred in the transition to independence were taken from Pakistan's share (a total of 230 million). In May, 1948 Muhammad Ali Jinnah (Founder of Pakistan) took steps to establish the State Bank of Pakistan immediately. These were implemented in June 1948, and the State Bank of Pakistan commenced operation on July 1, 1948. Function
Under the State Bank of Pakistan Order 1948, the state bank of Pakistan was charged with the duty to "regulate the issue of bank notes and keeping of reserves with a view to securing monetary stability in Pakistan and generally to operate the currency and credit system of the country to its advantage". The Stat Bank of Pakistan looks into a lot of different ranges of banking to deal with the changes in economic climate and different purchasing and buying powers. Here are some of the banking areas that the state bank looks into; • State Bank’s Shariah Board Approves Essentials and Model Agreements for Islamic Modes of Financing • Procudure For Submitting Claims With Sbp In Respect of Unclaimed Deposits Surrendered By Banks/Dfis. • Banking Sector Supervision in Pakistan
• Micro Finance
• Small Medium Enterprises (SMEs)
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