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Overview of Janata Bank
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OVERVIEW OF THE JANATA BANK
1.1 Introduction:
Banking Industry, an essential factor for the development of the economy, is playing its cut standing role for the sustain development for our country like Bangladesh. We can’t imagine our existence without banks. There is no denying the fact that the more the Banking Industry is developed, the more a country is advanced.
Economy is a complicated dynamic system of relationship between different agents of society where banks play a vital role to mobilize the economy. In a dynamic economy, the banking institution make the monetary system more dynamic. Modern economic functions are meaningless and seedless without bank. To make the social system developed and dynamic no one can deny the role of bank by any means.
Bank is a financial intermediary to mobilize fund from the surplus to deficit economic units. Now a day’s banks play a vital role as leading financial intermediary to meet the growing needs of every economy.
After the emergence of Bangladesh, the banking system has expanded to a lot in the last three decades. Through many private commercial banks have been established, now the major portion of banking business is covered by the four nationalized commercial banks such as: Sonali, Janata, Agrani and Rupali Bank Ltd. In our country, Janata is the second largest banking institution after the Sonali Bank.
All the financial transactions of Janata Bank, Harian Branch, is performed by this branch. Moreover, it provides banking facilities to the local business of Harian, Katakhali, Shampur, Bakhrahaz, Kapashi, Belghoria and Chumuhuni area. As a special investment branch it provides credit to many types of projects, which involved. Small business, Sanction Over draft, Cash Credit and Other Staff loan.
Janata Bank Harian Branch, headed by Manager who acts as a S.O. During my training at Janata Bank Harian Branch I learnt about general banking procedure such as: Cash receipt and payment Remittance, Demand Draft (DD). Mail transfer (MT). Telegraphic transfer (TT), statement of affairs. Loans and advances. Token issue etc. Though I have got an over all idea about banking.
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Background of Janata Bank:
Janata Bank is a nationalized commercial Bank. It was established under the Bangladesh Bank nationalization order 1972 (P.O. No. 26071972). Turning created the Bank over the branches of two abandoned Pakistani Bank. This functioned the East Pakistan with its head office Dhaka. The Bank started its operation with an initial authorized capital of Tk. 50 millions of paid up capital of Tk. 10.5 millions. Authorized capital was raised to Tk. 30 millions in 1973. Since then the authorized and p aid up capital remain unchanged till December 1983. Letters both were increased from time to time and their amount stood at Tk. 8 billions and Tk. 2.594 billions respectively on 31st December 2000. The reserve funds of the bank that date were Tk. 367 millions. The management of the Bank is vested in a 7 number boars of detectors appointed by the government. The managing director is the chief executive and a deputy managing director. Six number of general managers and other senior executives. The general managers are in-charge of the Bank branch in Six administrative divisions of the country; namely Dhaka, Chittagong, Rajshahi, Khulna, Sylhet and Barishal. At the head, office the Bank has 27 departments including a training institute. On 30th June 2000, the Bank had total number of 17138 employees. Up to 31st December 2005 the Bank had 853 domestic and 5 oversees branches (In the middle east and Italy). Among the domestic branches, 335 were in the urban areas and 518 in the rural areas.