Zulfiqar Hasan

Commercial Bank performs its activities by different working units. General Banking is the first door of all banking activities. It is the gateway of banking activities.

General banking department performs the core functions of bank, operates the day-to-day transactions. The main target of general banking is to mobilize the deposit from the clients by maintaining a good relationship banking systems.

Functions of General Banking

The functions of general banking of a commercial bank starts to provide the information to the existing and potential customers of the bank. Important functions are given here:

01. Providing information to the existing and potentials customers

02. Opening of Bank accounts (Savings, current, fixed etc.)

03. Maintenance of Deposit Accounts (DPS schemes etc.) and other bank accounts

04. Receipts and payment of cash

05. Handling transfer transactions

06. Operations of clearing house

07. Maintenance of accounts with Central Bank (Bangladesh Bank) and with other banks

08. Collections of Cheques and Bills

09. Issue and payment of Demand Drafts, TT and Pay Orders (Internal/Inward Remittance)

10. Executing customers standing instructions

11. Maintenance of safe deposit lockers

12.Maintenance of internal accounts of the banks

13. Closing and transfer of different types of accounts

14. Reposting to head office about daily position

15. Saving all transaction record in computer

16. Keeping good relation with valued customer and all customers

17. Providing necessary support to the customers

These functions may varied from bank to bank. But usually commercial banks perform the general banking activities by the following sections:

01. Information Desk

02. Account Opening Section

03. Remittance Section (Inward)

04. Bills and Clearing Section

05. Cash Section

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Contributor: Zulfiqar Hasan is a university teacher working as an Associate Professor (Finance).