INTERNSHIP REPORT

STATE BANK OF PAKISTAN

BSC-HYDERABAD

Group members:
 Alishba Mushtaque
 Fahad Soomro
 Farwah Memon
 Haseeb Ahmed Memon
 Vandna Lohana

Submitted to:
 SBP, BSC-Hyderabad,
DFD Department,
Sir Arsalan

Date Of Submission:
 20th July, 2023
 TABLE OF CONTENTS

1. Executive Summary I
2. Nature and Scope of Internship II
3 Internship Supervisor II
4. Introduction, Functions and Subsidiaries of State Bank of 1
Pakistan
5. Introduction and Offices of SBP-BSC 2
 Non-traditional functions of SBP-BSC 3
 Traditional functions of SBP-BSC 4
6. SBP-BSC Hyderabad 5
 Head Office 5
 Regions and Field Offices 5
7. Banking Division 6
8. DAU – Deposit Accounts Unit 6
9. PAU – Public Accounts Unit 9
10. CMU – Currency Management Unit 16
11. PBU – Prize Bond Unit 20
12. Cash and Treasury Unit 31
13. Currency Management Strategy 34
15. Challenges experienced during Internship 36
16. Statement of Contribution 36
17. Overall experience of Internship 37
 EXECUTIVE SUMMARY
SBP is a highly dynamic and prestigious organization of the state working since 1948. It’s the
central regulatory and monitoring body for the monetary transactions and policies for the whole
country. One of the main function of SBP is to control the currency in the country as excess of
currency in the market cause inflation. SBP has their different BSC offices for banking
operations in 16 field offices.
This internship report comprises of the details of organization’s different units, our internship
experience, and tasks assigned to us. The report is divided into three main parts. First part
includes the detailed introduction of SBP and its BSC offices, brief overview of nature and
scope of internship, constraints that has been faced by the internees on their part and the
statement of every individual’s contribution in this report. Second part includes detailed
working, functions, procedures and rules of assigned departments to us. Third part is of
evaluation, which includes complete experience of internship of the group and feedback from
internees.
During this internship we got the opportunity to observe and experience the major functions of
SBP-BSC. We have covered every unit during our rotations from SMU to PAU, which has
cleared most of our major concepts of banking operations as well as SBP’s other critical
functions. We were assigned the complete banking portion of SBP-BSC office Hyderabad to
prepare our report on, which includes currency management unit, prize bond unit, public
account unit, deposit account unit, and cash and treasury unit. Second major portion or the main
content of this report will include procedures and workflow of these above mentioned units in
detail.
The main purpose of this internship was to have a first-hand experience of the working of state
bank of Pakistan (BSC) and learn the corporate environment by observing or by being in there,
which had accomplished so far. This report will further discuss what we have learned as an
internee there and how it transformed our views about this organization.

I
 NATURE AND SCOPE OF INTERNSHIP:
This was 6-weeks internship in which we were allotted in different units of the bank. We used
to have rotations of one\two unit a day. We used to get divided in different groups to have better
learning experience and follow-up. We were also assigned different tasks as per our potentials
which includes fillings and a research project based on agriculture. It has exposed us to new
tasks and helped us learn goal-specific skills to complete those tasks. Internships also gives
experience with technology, people and projects that is related to career goals. This Internship
has provided us with an opportunity to put into practice skills we have learned in school. In
addition, we also got the opportunity to enhance those skills, obtain the perspective of a work
environment and benefit from a mentor or supervisor's experience and advice. This experience
will play a vital role in implementing our theoretical knowledge and getting a practical
knowledge from the central bank of the state.
In today's competitive world, there is nothing more important than an internship or a practicum
and getting a hands-on experience from one of the supreme authority in the banking and finance
field we feel enriched and ready to enter the real-work scenario with practical skills. Internship
at SBP BSC was a great way of learning, especially personalized learning. It has helped us to
understand how to deal with people professionally, how to work in a team of people coming
from different institutes with their best of expertise and skills, and the ways of a professional
work settings.

OVERVIEW OF THE WORKING OF THE FUNCTION/FIELD OF AREA

INTERNSHIP SUPERVISOR
Name: Arsalan Rafique
Grade: OG-2
Department: FEOU/SMU/SPU
City: Hyderabad

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 STATE BANK OF PAKISTAN

INTRODUCTION:
The State Bank of Pakistan (SBP) is incorporated under the State Bank of Pakistan Act, 1956,
which gives the Bank the authority to function as the central bank of the country. The SBP Act
mandates the Bank to regulate the monetary and credit system of Pakistan and to foster its
growth in the best national interest with a view to securing monetary stability and fuller
utilization of the country’s productive resources.

FUNCTIONS OF SBP:
The State Bank of Pakistan undertakes both traditional and developmental tasks to accomplish
macroeconomic objectives, just like a central bank in any developing nation.
The traditional duties that central banks almost everywhere in the world typically carry out can
be divided into two categories:
a) the primary duties, which include issuing notes, regulating and supervising the financial
system, operating bankers' banks, serving as lenders of last resort, serving as bankers to
governments, and conducting monetary policy; and
b) the secondary duties, which include agency duties like managing the public debt,
managing foreign exchange, etc.
Development of financial framework, institutionalization of savings and investment, provision
of training facilities to bankers, and granting of credit to priority sectors are some of the non-
traditional or promotional tasks carried out by the State Bank. The State Bank has been actively
participating in the process of islamizing the banking industry as well.
The State Bank's primary duties and tasks can be broadly categorized as follows.
 Regulation of liquidity
 Ensuring the soundness of Financial System
 Exchange Rate Management and Balance of Payments
 Developmental role

SUBSIDIARIES OF SBP:
SBP holds fully owned 4 subsidiaries
 SBP- Banking Services Corporation
 NIBAF- National Institute of Banking Finance
 PSPC- Pakistan Security Printing Corporation
 DPC- Deposit Protection Service

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 SBP-BSC
(STATE BANK OF PAKISTAN - BANKING SERVICE CORPORATION)
The SBP Banking Services Corporation (SBP-BSC) was established as a wholly owned
subsidiary of State Bank of Pakistan in January 2002, under the SBP Banking Services
Corporation Ordinance 2001.
As a main operating unit, SBP Banking Service Corporation works with few main areas i.e.
managing currency, foreign exchange operations, and foreign exchange adjudication despite it
also provides banking services to the federal and provincial governments and financial
institutions regulated by State Bank of Pakistan.
The functions of SBP-BSC includes:
Currency Management: The SBP-BSC is in charge of overseeing the nation's issuance,
distribution, and withdrawal of currency notes and coins. One of its primary goals is to maintain
the integrity and security of the currency while ensuring a decent supply.
Banking Operations: The SBP-BSC manages the government's accounts and debt, holds
government securities auctions, and serves as a lender of last resort to financial institutions as
part of its core duties. This helps to maintain liquidity and stability in the banking industry.
Development of Payment Systems: A seamless and secure environment for financial
transactions are fostered by SBP-BSC, which actively promotes and supports the development
of effective payment and settlement systems.
Data and Information Management: The company gathers and makes available to various
stakeholder’s useful financial data and information, assisting decision-makers in government,
business, and the general public.

SBP-BSC HEAD QUARTERS AND FIELD OFFICES

 Karachi (Head Quarter)

 Northern Region ( 5 Field Offices)

 Islamabad
 Peshawar
 Muzzafarabad
 Rawalpindi
 D.I Khan

 Central Region ( 6 Field Offices)

 Lahore

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 Multan
 Sialkot
 Bahawalpur
 Faislabad
 Gujranwala

 Southern Region ( 5 Field Offices)

 Karachi
 Hyderabad
 Sukkur
 Quetta
 North Nazimabad

FUNCTIONS OF SBP-BSC

Development
of Financial
Institutions
Training
Facilities of
Non Traditional Bankers
Functions
Credit to
Priority
Sectors
Promoting
Islamic
3 Banking
 Issue of notes

Implementation
of Monetary
Policy

Regulation and
supervision of
Banks
Primary
Functions
Bankers Bank

Bankers of Last
Resort

Traditional Bankers to
Functions Government

Public Debt
Management

Foreign
Exchange
Management
Secondary
Functions
Advisor to
Government

Close Relation
with Financial
Institution

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 SBP-BSC Hyderabad
In 1969, state bank of Pakistan opened its unit with the name of Exchange Control Unit in
Hyderabad City. The Unit started its function as Bank in 1971. Then Banking Services
Corporation (BSC) – set up in January 2002, is the subsidiary of the State Bank, and one of its
field offices was established in Hyderabad.

Units at SBP-BSC Hyderabad

 Deposit Account Unit
 Public Account Unit
 Currency Management Unit
 Issue Treasury & Cash Unit
 Prize Bond & Securities Unit
 Staff Matters Unit
 Internal Monitoring Unit
 Access to Finance Unit
 Refinance Scheme Unit
 Foreign Exchange Unit
 Medical Welfare Unit
 Salary and Advance Unit
 Procurement Unit
 Engineering Unit

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 BANKING DIVISION
Banking unit of SBP-BSC is divided into two main components:

 DAU – Deposit Accounts Unit

 PAU – Public Accounts Units
 ACM – Imran Khan

Banking Division

Deposit Public
Accounts Accounts
Unit Unit

DAU - DEPOSIT ACCOUNT UNITS

INTRODUCTION
Deposit accounts unit mainly deals with managing the overall daily reconciliations of all
transactions of banking and keeping the record of overall all finances of bank. More details
about their functions and how these functions are operated are given below.

FUNCTIONS & OPERATIONS

These are THE main functions of DAU SBP-BSC office Hyderabad:

Reconciliation of Accounts and preparation of Financial Statements:

All units of banking maintain Their daily transactions on sub-ledger(T-24) which is linked to
the DAU which then prepares the general ledger and trial balance of whole office on oracle at
the day end. On the completion of financial statements DAU has the responsibility to give EOD
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(end of day) signal to head office to mark the closing of business for that day. They also need to
verify system generated reports by matching them with trial balance and manual vouchers with
digital transactions which is called clean cash reports. Another major function of DAU is to
make RTGs payments of admin units.

Manage local Remittance facilities:

Remittances SBP facilitates the movement of funds from one place to another in the Pakistan
Movement of funds of commercial Bank, from branch to head office, from head office to
branch.

Movement of government funds:

If any government organization want to transfer funds to their other department outside the city
than they can request to SBP to facilitate them to transfer their funds. They sent request to SBP
than SBP make payment order with the name of National Bank of the respective city and tell
the beneficiaries for whom the funds will transfer. It is clearly mention the names of the
beneficiaries on the payment order. If government institute want to transfer their funds in the
city where SBP-BSC is operation than one city SBP-BSC make payment order with name of
other City SBPBSC and mention the beneficiary’s name. Within the region SBP does not
charge any fee of transfer of funds but outside the City they charge fee for the transfer.

Employee fund transfer:

Employees of the SBP can transfer their funds free of cost with SBP to SBP. The same
procedure is follows. Employee will deposit cash to cash counter and after getting deposit slip
he will come on the DAU and request for payment order with the name of other employee of
SBP.

Types of remittances:
1. Mail transfer: It is for the employees of the SBP. Employee can avail it by getting
payment order from the DAU. It is the fastest way of transfer of money. It is free of
charge. Physical movement of funds is avoided.
2. Bank draft: It facilitate the employee to transfer the funds outside the SBP free of
charge. It is basically used officially payment of SBP. Facility to transfer funds in
every place of country.
3. Government draft: It facilitates the transfer of receipts and payments of government free
of charges.
For example: payment of salaries of government employees to any government
department.

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All the work of local remittances has now done on T-24 module since digitalization. T-24 is the
main banking interface now which in back hand lined with the oracle, backbone of system.
DAU has the access to that.

Maintenance of Specimen Signatures Cards in connection with Remittance

facilities:
Verifying and maintain record of all the designated signatories of commercial banks, without
their approval signatures of signatories any process for commercial banks deposits and
payments can’t proceed.

Maintenance & Safe custody of Check Signal & Code Books:

CMU and DAU has the key responsibility to maintain the secrecy of cash and currency inflow
and outflow details with different authorities for which they have certain codes and those code
books are kept in their custody.

Maintenance of Safe Custody Articles:

when any government authority for example: police and FBR kept any article in SBP’s custody,
its maintenance and safety is one of the functions of DAU.
Inter Company /Receivable / Payable Accounts - Management of Cash Management Module in
ERP.

Maintenance of vouchers register:

Daily transaction’s vouchers weather of public counters or of any other banking unit has given
to the DAU at the day end for verification or balancing of digital transactions.

Recovery of Penalty imposed by CMU:

in case of violation of any rule or non-compliance of instructions from commercial banks CMU
has the right to impose penalty on them which is at the end charged or collected by DAU from
their accounts.

Maintenance of commercial bank accounts:

since centralization in 2021 this function had taken by the head office which includes opening
the accounts of commercial and scheduled bank and maintain their current accounts. BSC office
Hyderabad still receive deposits from commercial bank on behalf of head office.

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 PAU – PUBLIC ACCOUNTS UNIT

INTRODUCTION
Among multiple units of the State Bank of Pakistan Banking Services Corporation (SBP-
BSC), the one that aids in maintaining accounts of both the central and provincial government
as well as the managing of both the government and bank receipts and payments is public
accounts unit (PAU). Public accounts unit is the one where the payments for the government
departments such as FBR, SRB, Pakistan Railways et cetera are done through cash, clearing,
and transfer. In addition to this, the unit is designated to receive payments for various
government departments through cash, clearing, and transfer. The unit is also responsible for
maintaining the Zakat funds and ensure interbank transactions through clearing house. At
Hyderabad office of State Bank of Pakistan Banking Services Corporation (SBP-BSC), the
unit is overseen by a grade three officer (OG-III) assistant chief manager, Mr. Imran Khan,
and has the workforce of three employees where one is an officer of grade two (OG-II) and
two are the officers of grade one (OG-I). All the operations of the public accounts unit are
fulfilled on a designated system called T-24.

Public accounts unit (PAU) plays a pivotal role in maintaining the accounts of both the central
and provincial governments. Besides, it also oversees the payments and receipts of the
government as well as the banks. Following are the functions performed by the public
accounts’ unit.
1. Maintenance, receipt & payment of Government accounts
2. Receipt of Normal/Intercity and same day clearing through NIFT
3. Verification of Abstracts /Scrolls of Receipt & Payment of Government Accounts
4. Reconciliation of Government Receipts & Payments with DAD Reports
5. Reconciliation of Government Account Figures with District Treasury Officer
and various Government agencies.
6. Short Credit through NIFT
7. Enlistment of Clearing House Membership
8. Authorization of Transactions
9. Monitoring of Assignment Accounts
10. Cheque Book in use intimation
11. Stop Payment of cheques
12. Maintenance of Specimen Signatures Cards of DDOs / Government offices –Image
Management Module
13. Supervise the transactions relating to Excise duty and Income Tax in the
separate module Issuance of CPR (Computerized Payment Receipts)
14. Receipt/Payment of Zakat
15. Supervision of Token Issuance
16. Daily/Monthly /quarterly/half yearly/yearly returns

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 PAYMENTS
The PAU has two important functions. Among them the one is the function of payments
made to government departments. In the payments section of public accounts unit, the modes
of payment are of three types which includes payments through cash, payments through
transfers, and payments through clearing. In payments section of PAU, mainly two accounts
are used. The one is drawings account and the other is assignment account. The drawings
account has a sub-account named personal ledger account (PLA). The drawings account is
the one in which there is no limit set by the concerned government department for the
withdrawal of the funds. Whereas the assignment account is the one in which a limit is set for
a time period by the concerned government department for the withdrawal of the funds.
However, it is required that the funds in the assignment account become zero at the end of the
financial year. In case the funds remain in the assignment account till the end of the financial
year, the funds become lapsed after the year ends and the account balance becomes zero. The
transactions in the payment section of the PAU are done through government cheques only.

PROCESSES
Cheque Verification Steps:
1. Verification of signature: it is ensured that the cheque is duly signed and the
signatures of the authorized competent authority issuing the check match the ones
already provided to the public accounts’ unit of SBP-BSC
2. Date checked: the validity of the cheque is ensured by checking the date on the
cheque. A government cheque is valid either for three months from the date of issue
or till the end of the bank year i.e., 30th of June of each year. After the due date, the
cheque will become invalid.
3. Stamps verification: three kinds of stamps are checked to ensure there is no
discrepancy. The stamps that are checked include clearing stamp, cross stamp, and
endorsement stamp
4. Bank verification: It is ensured that the cheque is presented by the same bank in
whose favor the cheque is written
5. Tally the particulars with the schedule: it is also ensured that the particulars mentioned
on the cheque match the ones mentioned in the schedule provided by the concerned
government department to the bank.
NOTE: Before passing of the cheques from drawing or assignment accounts, a cheque series
is issued by the concerned department to the bank that intimates the bank regarding the
credentials of the cheques that they would send to the bank for passing. The transactions
would only take place once the cheque series is inputted in the system of the bank after due
verification of the signatures of the authorized person.

Clearing:
1. The cheques issued in favor of a person are presented in banks.
2. NIFT collects the cheques from the bank and sends the cheques to PAU of SBP-BSC
3. The cheque, once reaches PAU is either passed or returned.
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 4. If the cheque has any issue, PAU returns the cheque to NIFT which then returns the
cheque to the respective bank.
5. If the cheque is duly verified, the cheque is then passed. The verification process of
the cheque is mentioned above.
6. The passing of cheque involves the schedule marking, inputting of the cheque details
in the T-24 system and then the concerned authority authorizes the passing of the
cheque upon which an entry is made whereby the government account is debited and
NIFT is credited.

Cash
1. The authorized signatory issues authority letter to declare the person who would
collect the payment and the signature record of the person given the authority is
maintained. The authority letter contains one signature of the competent authority and
three signatures of the one to whom the authority is given along with one signature on
the backside of the cheque. The authority can either be given to a cashier or the
authorized person can come to collect the payment
2. The cheque, once reaches PAU is either passed or returned.
3. If the cheque has any issue, PAU returns the cheque to the concerned government
department
4. The credentials of the authority letter are checked meticulously.
5. If the cheque is duly verified and the credentials of the authority letter checked, the
cheque is then passed. The verification process of the cheque is mentioned above.
6. The passing of cheque involves the schedule marking, inputting of the cheque details
in the T-24 system and then the concerned authority authorizes the passing of the
cheque.
7. The authorized person is then entitled to receive the payment in cash from the cash
unit.
Transfer
1. In the transactions related to transfers, one government account is debited and the
other is credited
2. The cheque, once reaches PAU is either passed or returned.
3. If the cheque has any issue, PAU returns the cheque to the concerned government
department
4. The government cheques have challan attached to them the credentials of both of
them are checked carefully. The challan have a code or a head of account in which
funds are to be credited
5. If the cheque is duly verified and the credentials of the challan are checked, the
cheque is then passed. The verification process of the cheque is mentioned above.
6. The passing of cheque involves the schedule marking, inputting of the cheque details
in the T-24 system and then the concerned authority authorizes the passing of the
cheque.
However, in case the transaction occurs in the personal ledger account (PLA), no cheque
series intimation is needed. The cheque passing method also varies from the transactions
occurring in the drawings and assignment accounts. The method of the cheque passing from
11
personal ledger account is mentioned below.

12
The cheque for personal ledger accounts has both the sides important. The front is
considered the government cheque and the back is considered a payment order. The
process involves the following steps
1. The cheque once issues is sent to treasury where the treasury department puts the
payment order number along with the signature of the authorized officer. The validity
of the payment order is of thirty days. However, after its due date, until the cheque is
valid, the payment order can be revalidated, but in order to revalidate, the bank sends
the cheque by to the concerned department which has issued the cheque which sends
the cheque again to the treasury department for a fresh input of payment order number
as well as signature of the authorized officer.
2. If the cheque is duly verified, the cheque is then passed. The verification process of
the cheque is mentioned above.
3. The passing of cheque involves the schedule marking, inputting of the cheque details
in the T-24 system and then the concerned authority authorizes the passing of the
cheque.

Cheque Presented
in the Bank

Bank sends the

check to NIFT

If the cheque is If the cheque has

clear, it is passed issues, it is returned

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 RECEIPTS
Under the receipt section of the public accounts’ unit, the cheques of the government
departments as well as banks are received at the counter. The following are the steps involved
in the receipt of the government and bank cheques.
1. The cheques are received by the bank through the counter against which the person
presenting the cheque is provided with a token.
2. The cheques once collected are stamped and are handed over to NIFT. The cheques
are sent to the NIFT in any of the following methods which includes same day
clearing, normal clearing, and intercity clearing. The same day clearing occurs when
the cheques collected are sent to the NIFT on the same day and the NIFT intimates the
bank on the same day regarding the cheques which have been passed and the ones
which have been returned. In the normal day clearing, the cheques are handed over
to the NIFT which
then takes the cheques to the concerned department and intimates the bank regarding
whether the cheque was passed or returned on the next day. Lastly, the intercity
clearing is done when the cheques of banks from other cities are received. The
cheques are handed over to the NIFT which then transports to the concerned
government department or bank branch of a particular city. The NIFT then intimates
the bank regarding whether the cheques have been passed or returned on the alternate
day.
3. The cheques returned by NIFT on the next day, if returned are returned to the
respective person, and if passed by duly verifying the credentials of the cheque, then
the following steps are taken.
4. The challan is manually stamped and the word figures are written manually on the
challan
5. Two copies of the challan are made. One copy of the challan is handed over to the
person who holds the token and the other is sent to the treasury.

For the collection of FBR taxes, the method mentioned above changes slightly, as the cheques
of the FBR taxes have a PS ID mentioned on them.
1. The cheques are then passed through the PS ID on FBR’s payses system
2. Once the passing of cheque is confirmed, a CPR is generated which is handed over to
the person who holds the token and the person surrenders the token.

In case of the receipts from National Bank of Pakistan (NBP), the following process is
followed;

1. The NBP collects all the government collections daily

2. On the next day, details of the receipts in a sheet are provided with debit authority
letter. The debit authority letter authorizes the bank to debit the account of NBP. The
sheet with the details includes individual amount of each collection and the debit
letter includes the cumulative amount.
Once the credentials are checked, an entry is run whereby the NBP account is debited and the
14
government account is credited.

15
 Cheque collected at the PAU
counter

Cheque sent to NIFT

NIFT sends the cheque to the

concerned bank

If the cheque is clear, it is passed If the cheque has any issues, it

and the respective entries are is returned
entered

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 CMU – CURRENCY MANAGEMENT UNIT

INTRODUCTION
Currency Management Department was established on 7th August 2007, to carry out currency
management activities in an efficient and effective manner across the country. SBP-BSC is
entrusted with the responsibility of handling receipts, exchange of banknotes and coins and
supply of currency on behalf of State Bank of Pakistan, which is carried out by CMD.
All the currency requirements of NBP and commercial Banks are fulfilled by CMU, as it
performs the core function of SPB-BSC of maintaining the demand and supply of currency in
the circulation. Its aim is to issue adequate amount of currency, withdrawal of soiled notes from
the circulation and their destruction.

Mission Statement:
To establish efficient currency management system by using latest technology from initial
printing to finally destruction of banknotes including curbing of counterfeit currency.

Vision Statement:
Providing securer and better quality banknotes to command respect and trust of our
stakeholders.

DCM: Adeel Iqbal (OG-4)

ACM: Shohaib Ali Siyal (OG-3)

FUNCTIONS & OPERATIONS

 CMU manages Issue and distribution of fresh notes and coins
 CMU handles Inventory management and accounting
 CMU fulfills commercial banks requisites
 CMU performs Bi-annual verification of Inter-Bank exchange transactions through RTGS
accounts and prepares reconciliation statements.
 CMU looks after Bank Notes Packaging and gives instructions to commercial banks.
 Withdrawal of soiled notes from circulation and their destruction

 Note exchange facilities and anti-counterfeit measures

 ATM monitoring semiannually

 Remittance management, outward as well as inward – contacting and briefing the parties
involved such as police, currency contractors, railway department, etc.

 Soiled notes destruction was also performed at BSC- Hyderabad but after 2020 it is only
being performed at The Head Office Karachi.
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 CMU also performs the function of detection of forged notes and the law enforcement. The
penalty is 100 times that of the value of notes.

 CMU reports current balance in the vaults (Vault Position) to the Head Office Karachi on
daily basis.

1. Chest Inspection

 Prepare sheet mentioning names of chests/sub chests and names of officers

conducted last chest examination.
 Prepare tentative plan of chest examination and send it to CMD
 Chest Examination Noting
 After approval, prepare letters for Inspection officers
 Conduct session with nominated officers regarding instructions of chest
examination
 Hand over relevant material to nominated officers
 Receive Inspection report and scan the same.
 Review each report as per instructions.
 Prepare the Noting and get approval to send the same to CMD and NBP
management.

2. Currency contractor bills

 Receive bill from currency contractor regarding services rendered by him.

 Get the bill in warded
 Prepare Noting
 Verify number of labor mentioned on bill with attendance sheet.
 Verify other details and rates with approved rates
 Attach hard copy of DCM approvals with case
 After approval of case ensure timely FT entry.
 Intimate the same to Currency contractor via advice.

3. Irregularities Mitigation Plan NBP Chest/Sub-chests

 List down the irregularities of each chest/sub chest

 List down reason of each regularity of each chest/sub chest
 Suggest measures NBP need to be taken to cop up each irregularity.
 List down officers responsible of each regularity
18
  Mention timeline of suggested measures.

4. Chest Study
Read each report of chest/sub chest then fill following Performa’s in excel sheet.
 Additional Checklist
 Security information
 SQ Compliance
 Strong Room
 Police Guard
 Weight Scales and Holding Capacity
 Precautionary Arrangement
 Remittance Facilities
 Exchange Facilities
 Chest Balance
 Prize Bonds
 Current Balance

5. Awareness sessions
6 onsite training sessions have been conducted for Capacity building of NBP chests staff
(Sanghar, Mirpurkhas, Dadu, Nawabshah, Badin and Hyderabad) regarding CMS BPI and
Penalty structure,

6. Forged Notes received from commercial banks NBP

 Receive the letter and currency notes verify the details of same as per
instructions.
 Get the letter inwarded.
 Prepare the excel sheet and upload the same in system.
 Input the details in system.
 Prepare noting and forward the same to cash unit for opinion please
 After forged declaration mention the same in system by executing another entry.
 Affix forged and impounded stamp on currency note.
 Prepare L-56 manual register
 Submit the same in envelope in DCM Custody.
 Send the same to PSPC for verification purpose

19
  After receiving the same from PSPC, destruction of same may be done as per
instructions

7. Forged notes received from Police

 Receive the letter and currency notes verify the details of same as per
instructions.
 Get the letter inwarded.
 Prepare the excel sheet and upload the same in system.
 Input the details in system.
 Prepare noting and forward the same to cash unit for opinion please
 After forged declaration mention the same in system by executing another entry.
 Affix forged and impounded stamp on currency note.
 Prepare L-56 manual register and get the signed same from DCM
 Prepare letter and handover the same with forged report and notes to police
 Execute the entry of same in system i.e Transfer forged note to police.
 Dispatch quarterly reminders to police
 Receive Back Forged Note from Police
 Transfer to PSPC
 PSPC Analysis Upload and Confirmation
 Mark Forged Notes for Destruction/Retention
 Destruction OF Forged Notes

8. Revised Sops regarding bank representatives

 Bi annually maintenance of record regarding nomination of bank representatives
from each bank.
 Daily Correspondence with each bank regarding cash deposit and withdrawal.
 Prepare noting regarding approval of same from DCM and intimate same to
concerned bank.
 In case of cash withdrawal by commercial bank, execute the RTGS entry and
intimate same to vault and cash officials via email
 Intimate same to IBSU to allow the representatives of commercial banks in the
premises of SBP Hyderabad

9. Correspondence with NBP Chest/sub chests

 Empty wooden boxes
 Remittance diversion
 Correspondence with the management of NBP regarding noncompliance of any
instruction.
20
10. Budget of Remittance
Prepare annual budget to meet the expenses of inward and outward remittance.
11. Daily Chest slip
Data is taken from various reports to prepare daily chest slip, which lists all the information
regarding chest.
12. NPB/PPB Draw

13. Fresh notes and RS. 75 bank note distribution

 Prepare noting and sought the approval of same
 Intimate each bank
 Execute RTGS entry
 Correspondence with CMD, IBSU, and commercial banks regarding same

14. Monthly Forged notes report

Prepare report of monthly forged notes received from commercial bank and send the
same to CMD

15. Award of contract

 Prepare noting for approval
 Get Performance guarantee
 List of labor from currency contractor
 Get Police verification of labor
 Ensure safety equipment for labor
 Availability of pocket less jumpsuits for labor

CURRENCY LIFE-CYCLE

2.
1. Production
Indent

3.

CURRENCY Distribution
6.
LIFE
Destruction CYCLE

4.
5.
Circulation
Sorting 21
 PBU – PRIZA BOND UNIT

INTRODUCTION
Prize bonds are a type of financial investment instrument issued by the State Bank of Pakistan
on behalf of the Government of Pakistan. They are designed to provide an opportunity for
individuals to invest their savings while also having a chance to win prizes through regular
draws. Prize bonds are available in various denominations, such as 100, 200, 750, 1,500, as a
bearer bond. Rupees. 25,000, and Rupees. 40,000 as registered prize bond. Each bond is
assigned a unique number, and these numbers are entered into regular draws conducted by the
State Bank of Pakistan. The draws are held quarterly or biannually, depending on the
denomination of the bond. The draws are conducted through a draw machines that randomly
selects winning numbers, and the prize amounts vary based on the denomination of the bond
and the number of winning bonds. If you hold a prize bond and your number matches the
winning numbers in a draw, you can claim the prize money from SBP -BSC, which makes prize
bonds a popular investment choice for many individuals. Prize bond money that can be claim
within 6 years from draw date and registered bonds winning prizes are automatically deposited
in bondholders through commercial banks. A Bondholders can redeem their prize bonds and
receive the original investment amount. From SBP BSC prize as a sell encasement at any time.
The State Bank of Pakistan takes measures to ensure the security and integrity of the prize bond
system.

NATIONAL SAVING SCHEME (NSS)

As currently, state bank of Pakistan is closed the high prize bond of denomination in 2018
because of high rates of increased in money laundering. These bearer bond are not registered
that’s why there is a lot of money laundering practices are going that’s reason they closed
higher denomination of prize bond such as rupees 1,500, Rupees. 7,500, Rupees. 15,000,
Rupees. 25,000, and Rupees. 40,000. Instead of being closed bond government of Pakistan is
issued premium bond which are higher denomination such as rupees 25,000, rupees 40000.
These bonds are registered on the name of bondholder and procedure of bond purchase is
similarity same as bearer bond. National saving center is also introduced the newly investment
scheme where individual can invest and earn a return on investment (ROI), basically these are
the certificate of national saving center. There are two types of certificate they issued in the
behalf of government of Pakistan.
 SSC – Special Savings Certificate
 DSC – Defensive Savings Certificate

22
 SPECIAL SAVING CERTIFICATE (SSC)

Special Saving Certificates (SSCs) are a type of investment instrument offered by the
Government of Pakistan through the Central Directorate of National Savings (CDNS). SSCs
provide individuals with an opportunity to invest their savings and earn a fixed return over a
specified period of time. Guaranteed Return: SSCs offer a guaranteed return on investment. The
interest rates for SSCs are set by the government and remain fixed throughout the tenure of the
certificate, currently the interest rate is 3.96 percentage is giving to bondholder, the nature of
interest is simple its basically the tenure is 3 years which contain 6 coupons and they get profit
on semi-annually, after the tenure is expired then bondholder come to field office and return
certificate to state bank of Pakistan. There are multiple investment options such as Regular
Income Certificates (RICs) and Behbood Saving Certificates (BSCs), which cater to different
investment objectives. RICs provide a regular monthly income, while BSCs are designed for
long-term savings with a higher return at maturity. Special saving certificate (SSC) are
available to both individuals and institutional investors, including resident Pakistanis and non-
resident Pakistanis. Certain categories of investors, such as senior citizens, widows, or disabled
persons, may be eligible for special rates or benefits. The income earned from SSCs is subject
to applicable taxes as per the tax laws of Pakistan. SSCs have a lock-in period, and premature
encashment may result in a penalty or reduction in the interest rate. However, some SSCs
provide an option for premature encashment under certain conditions. Special Saving
Certificates are backed by the Government of Pakistan, making them a secure investment
option. The special saving certificate (SSC) profit distribution is mentioned below

23
DEFENSIVE SAVING CERTIFICATE (DSC)
24
 In this certificate the financial needs of long term category investors and provide them with the
opportunity to take maximum benefits of savings, the government of Pakistan introduced this
certificate in the year of 1966, this scheme has specifically been designed to meet the future
requirement of the depositors with the maturity period of 10 years. These certificates are
available in denomination of rupees 500, rupees 1000, rupees 5000, rupees 10,000, rupees
50,000, rupees 100,000, rupees 500.000, rupees 1,000,000. This certificate is purchased form
national saving center (NSC), authorized branches of scheduled banks and the state bank of
Pakistan (ISBP)by filling in the sc-1(application form) which is free cost, along with copy of
computerized national identity card (CNIC), mode of deposit is based on customer preference
which are cheque and cash. DSC encashment made at any time, before completion of tenure
there is no profit is paid. Persons appearing in active Tax payer list (ATL), rate of withholding
tax shall be 15% of the yield and a person not active tax payer list (ATL) withholding tax shall
be 30% of the yield.

The above table is showing that the profit on this certificate is in the nature of compound
interest which means profits is add on and there is only one coupon issued to the certificate
holder and maturity years are 10 years.

25
 BEARER BONDS
Bearer bonds are non-registered there are four denominationS now currently sells and reissued
and in state bank of Pakistan which are rupees 100, rupees 200, rupees 750, rupees 1500 and
also there are three prizes are there, 2 big prizes which mention along with denomination bond
prize and last one is small prize which is known 3 prize bond which is also mentioned in figure
along with denomination.

These bonds are classified in different prize denomination which is shown in the above picture.

26
SECURITY FEATURE OF 1500 PRIZE BOND

27
SECURITY FEATURES OF 750 PRIZE BOND

28
SECURITY FEATURES OF 200 PRIZE BOND

29
SECURITY FEATURES OF 100 PRIZE BOND

30
 PREMIUM PRIZE BOND / REGISTERED PRIZE BOND
Process of Purchase Premium Prize Bond
The State Bank of Pakistan issued premium prize bonds known as "Registered Prize Bonds."
These bonds were introduced in 2017 as an alternative to traditional bearer prize bonds.
Registered Prize Bonds were available in two denominations: Rupees. 40,000, Rupees. 25,000.
The bonds were registered in the name of the bondholder, which meant that the ownership was
recorded with the State Bank of Pakistan. This feature aimed to enhance security and reduce the
risk of theft or loss and the main reason to introduce of this registered prize bonds also aligns
with the efforts to combat money laundering and promote a transparent financial system. The
registration requirement helps track (KYC) Know your customer, the ownership and source of
funds invested in the bonds. Registered Prize Bonds had a maturity period of six years, during
which they earned a fixed profit rate. The profit was paid to the bondholder twice a year in the
form of bi-annual profit payments. The bondholders also had the option to encashment their
bonds at any time during the maturity period. As currently the profits on this bond is 3.96%
which given to bondholder at annually and semiannually is given to bondholder is 1.79%., this
rate is typically based on treasury bills rate, its high volatile and set as per market rates. Direct
Credit of Prize Money and Profit in Investors Bank Account, Transferable & Pledge-able can be
purchased through Cash, Cheque, Pay-Order and Bank Draft and also it can be purchased from
offices of State Bank of Pakistan (SBP-BSC) and authorized branches of commercial banks. ,
No Application Forms required for claiming prize money & profit. The Highest prize of
Rupees. 30,000,000/- of prize bond rupees 25,000/- and first prize Rupees 80,000,000/-of prize
bond 40.

Documents Required For The Premium Prize Bond Application Form In

SBP-BSC
 Copy of CNIC.
 Account Maintenance Certificate (Account title, IBAN number, status of account, Bank &
Branch Name).
 Tax Certificate in case of Filer.
 Nominee CNIC detail.
 Zakat declaration certificate

DENOMINATIONS FIRST PRIZE SECOND PRIZE THIRD PRIZE

AMOUNT AMOUNT AMOUNT
25,000 3,00,00,000 1,00,00,000 3,00,000

40,000 8,00,00,000 3,00,00,000 5,00,000

OPERATION ON COUNTER OF SBP-BSC

31
Maintenance of a suitable stock of National Prize Bonds and issuance of the same to the other
field offices falling within their jurisdictions and switching over the balances of the prize bonds
from one office to another office as and when circumstances so arise in order to run the saving
schemes of the Government successfully, after that Counting and examination of the Fresh
Prize Bonds as per procedure laid down for notes on receipt from the Pakistan Security Printing
Corporation (PSPC)., Crediting the prize money to the Government Account against the
qualified Prize Bonds listed in the PB-35 and the remainder in the custody of Prize Bond
Division during the closing period and then managing sale of the National Prize Bonds of all
denomination to the public over the counter and the authorized commercial banks through
cheques.. After this Encashment of Prize Bonds presented by the members of public and
commercial banks. • Making the payment of prize money to the claimants on the Prize Bonds
declared for the prizes in the respective draws after observing the prescribed drill. And also
keeping the Accounts Department and National Saving Centre fully aware of the transaction of
the Prize Bonds through various statements/documents. Maintenance of figures of Prize Money
Paid to Public & Credit to Government In the end of Destructions of the Defective Prize Bonds
before a day of the draw of the respective National Prize Bonds as per laid down procedure.
And furthermore Examination of Doubtful Prize Bonds and sending the same to the Pakistan
Security Printing Corporation for verification. Refund of face value of the defective/mutilated
Prize Bonds after ensuring its genuineness.

DRAW PROCEDURE
The State Bank of Pakistan announces the draw dates for various prize bond denominations in
advance. These draw dates are usually published on their official website and in newspapers.
On the designated draw date, the prize bond unit ACM (Assistant chief manager) and DCM
(deputy chief manger) along with assistant director of national saving centre came to oversee
the activities which is held on draw date and some other communities members are invited to
see the draws, and from state bank of Pakistan they can called well known personality which
having wonderful public relation (PR), and after all this banners arrangement can take place
which later its reimbursement from national saving centre charges fees is 27,000 charges of
arranged all draw expenses incurred. the State Bank of Pakistan uses a computerized system to
randomly select the winning bond numbers. This system ensures a fair and transparent selection
process. Once the winning numbers are generated, they are verified by multiple officials to
ensure accuracy and integrity. This verification process aims to maintain the credibility of the
prize bond draws. After the verification process, the winning numbers are announced to the
public. Further-more completion of draw, The State Bank of Pakistan publishes the results on
its official website, and the information is also shared through various media channels. The
prize bond holders with winning numbers can claim their prizes at designated branches of
commercial banks. The process for prize redemption varies depending on the prize amount and
the specific instructions provided by the State Bank of Pakistan.

32
 CASH AND TREASURY DEPARTMENT

INTRODUCTION
The Issue and Treasury Department is responsible for issuing bank notes, that is separate from the
Banking Department which carries out other central banking activities. It acts like a banker to
commercial bank. This department provide banking services to commercial banks, the Central
Government, Provincial Government and other organizations. Further, the assets of the issue department
are only liable for bank notes that are in circulation and not for any other obligations.

Employee and ACM

Currently there are 14 employees and ACM Muhammad Imran Khan is the head of the department. He
is the accountable to the bank for various balances and valuables held by the cash department. The
treasury officers help ACM to carry out his duties. ACM will look after of all money, currency notes and
foreign exchange. He will ensure that all employees in cash department are utilizing their service
appropriately

Cash & Treasury

Unit

Counters Vaults Boxes

33
 VAULTS
There are various vaults operating under the joint custody of ACM Cash and Currency Officer
 GUARANTEE/ BONDED NOTES VAULT
 COINS VAULT.
 CHEST NOTE VAULT
 PRIZE BOND VAULT
 FRESH NOTES VAULT
 EXCHANGE VAULT
 CANCELED NOTE VAULT

Guarantee/Bonded Note Vault:

It manages balances of Bonded Notes received from commercial banks in the Guarantee / bonded vault
and crediting their account on the same day with the amount equivalent to value of the said notes.

Coins vault:
Arrange stock of coins from Pakistan Mint Lahore and issue to the offices / Chests / commercial Banks.
The Coins Vault keeps coins from the Mint for exchange counters, offices, and banks. Remittances from
chests are also deposited here and sent to examination halls for detailed examination with the chest’s
representative present.

Chest Note Vault:

The Chest Note Vault deals with Bonded Notes from commercial banks, Soiled Notes from Chests,
inward remittances, fresh notes from the Pakistan Security Printing Corporation, cancelled notes, and
fresh prize bonds from National Savings. The Vault examines and processes these notes, counts and
issues them for exchange and remittances to chest/sub-chest/commercial banks, and destroys cancelled
notes after a final verification.

Prize bond vault:

The Prize Bond Vault receives fresh prize bonds of various denominations from National Savings. The
bonds are then examined and counted on machines before being sold to the public on counters.

Fresh Note vault:

The Fresh Note Vault is responsible for receiving new notes from the Pakistan Security Printing
Corporation. These notes are counted and issued for exchange and remittances to
chest/sub-chest/commercial banks.

Exchange notes vault:

The Exchange Note Vault is responsible for exchanging old, soiled, and mutilated banknotes for fresh
banknotes. The State Bank of Pakistan ensures that the public has access to clean and usable currency.

Canceled Note Vault:

The Cancelled and Fresh Notes Vault is responsible for cancelled and fresh notes. Cancelled notes are
deposited here after examination and sorting of balances collected from guarantee and chest balances.
These notes are then destroyed through furnaces after a final verification process. The vault also receives

34
fresh notes from the Pakistan Security Printing Corporation, which are counted and issued for exchange
and remittances to chest/sub-chest/commercial banks.

BOX BALANCE:
The Box Balances act as a hub for distributing notes, prize bonds, and coins to different counters.
Depending on the number of counters, the number of boxes is adjusted accordingly.
 Banking box
 Exchange Box
 Prize Bond Box
 Prize Bond Note Box
 Payment to Banks Box
 Coin Box

COUNTERS
 Prize bond counter
 Coin counter
 Government payment counter
 Bank payment counter
 Claim note counter

Prize Bond/ Enchantment Counter

The counters issue prize bonds in exchange for cash during open hours. Fresh Prize Bonds are issued
with a stamp showing the date and office of issue. The general public can cash prize bonds of all
denominations during counter hours.

Coin counter:
The counter exchanges coins for currency notes. The back office of this counter has several shroffs who
use coin counting machines to count and pack coins in the appropriate amounts.

Government Payment Counter:

The counter handles payments to the government departments for bills, cheques, salary cheques, and
pension bills. Central payments include AGPR, Railways, GPO, NSO, Navy/Military, while Provincial
payments include AG (Province), Forest Department Excise & Taxation, etc. Cheques and bills are
received through the PAD section, and the counter in-charge verifies the date, signatures, and account
information before making payments.

Bank payment counter:

This Counter deals with payments to employees of SBP and SBP. BSC including:
 SBP cheques
 SBP BSC cheques
 Office Payment orders (Medical, R&R etc)
 Pensioners P.O
 Govt. Drafts/bank drafts

35
Claim notes counter:
If banknotes are torn into more than two pieces, washed, oily, or partly burnt, they require special
examination, unless the missing portion of the note is less than half. Members of the general public must
fill out a form and submit it with a copy of their CNIC and the claim notes at the claim note counter.
Designated branches of commercial banks can also submit claim notes on behalf of their customers.

DAY STARTING PROCEDURE

The office must open every day at a set time, which should be the same as the local banks and other
public offices. The staff should arrive at least 30 minutes early to ensure everything is ready for
business. The ACM Cash and Treasury officer (In-charge) must inspect the seals placed outside the
vaults and safes the previous evening and then, in the presence of police guard, unlock the vaults. All
counters of Issue and Treasury department perform their activities through (T24).

EVENING COLLECTION
At the end of each business day, the counters return their balances to the In-charge Evening Collection.
After all counters have submitted their balances, the In-charge compiles them and sends the re-issuable
balance to the Exchange Vault, and non-issuable balances to the Cancelled Note Vault. The Evening
Collection receives notes from the counters and sorts them into issuable and non-issuable notes.

DAY CLOSING PROCEDURE

At the end of the day, all the balances held at each counter must be properly sorted, packaged, and
sealed by an examiner before being returned to the Evening Collection. Each counter must submit their
balance. The unissued balance of coins is also returned to the Evening Collection with a report that is
used to verify the number and value of each denomination of all notes received at each counter. Each
Treasury Officer and ACM must have a seal with a unique letter and movable dates. They need to stamp
the notes they examine with this seal.

36
 CURRENCY MANAGEMENT STRATEGY

The State Bank of Pakistan (SBP) has created a Currency Management Strategy (CMS) with the
intention of transforming the currency management function from a manual to an automated
environment, improving banks' ability to separate the fit and genuine banknotes from unfit, soiled, and
counterfeit banknotes, and raising the caliber of banknotes in circulation.
To maintain the effective operation of the nation's monetary system, the State Bank of Pakistan (SBP)
employs a comprehensive currency management policy. Maintaining the legitimacy and stability of the
Pakistani rupee is one of the strategy's primary goals. The SBP closely analyzes important economic
indicators, developments in currency rates, and circumstances on global markets in order to do this. In
order to control volatility and maintain a stable foreign exchange market, it makes the proper currency
interventions, such as buying or selling foreign currencies. By increasing the security features of
banknotes and raising public awareness, the SBP also actively tries to combat counterfeiting.
Additionally, the SBP keeps a reliable system in place for the circulation and supply of money, ensuring
that banks have enough cash on hand to meet the demands of people and companies all over the nation.
The State Bank of Pakistan's overall currency management policy is centered on supporting economic
growth and financial inclusion for the benefit of the Pakistani people, as well as stability and confidence
in the national currency.
The CMS modus operandi includes the following key elements:
 Establishment of Currency Processing Centers (CPCs). CPCs are centralized facilities where
banks can sort, authenticate and pack their cash. This will help to improve the efficiency and
effectiveness of cash processing operations, and reduce the risk of counterfeiting and fraud.
 Implementation of Clean Note Policy
 Establishment of Currency Management Department
 Introduction of banknote sorting and authentication machines. These machines will help to
ensure that only fit and genuine banknotes are released into circulation.
 Implementation of a new penalty structure. This will deter banks from non-compliance with the
CMS.
 Enhanced public awareness of banknote security features*. This will help the public to identify
counterfeit banknotes.
The SBP CMS is a comprehensive and ambitious plan to reform the currency management system in
Pakistan. If successfully implemented, it will have a significant positive impact on the efficiency,
security and integrity of the country's currency system.
Here are some additional details about the CMS modus operandi:
 CPCs must be equipped with high-resolution CCTV cameras, which must be monitored 24/7.
 All banknotes processed at CPCs must be authenticated using banknote sorting and
authentication machines.
 Banks must maintain a daily record of their cash transactions, and submit this record to the SBP
on a monthly basis.
 Banks must surrender any suspected counterfeit banknotes to the SBP within 48 hours of
detection.
The SBP CMS is a complex and challenging undertaking, but it is essential for ensuring the integrity of
Pakistan's currency system. The SBP is committed to implementing the CMS successfully, and it is
confident that the benefits will outweigh the challenges.

37
 CHALLENGES EXPERIENCED DURING INTERNSHIP
As an intern, the primary challenge that we faced was the dynamic and fast-paced nature of the
functioning of the SBP-BSC Hyderabad which, at certain times, became overwhelming. The
financial systems, procedures, and regulations followed by the State Bank of Pakistan Banking
Services Corporation, Hyderabad, were taking time for us to comprehend and understand.
And the major reason might be because our internship started in June, which is the closing
month. The staff was pretty busy still they were very helpful attentive, still we were unable to
catch certain points as they were working with pace.
Still this was a wonderful experience and above everything what we have learned is going to be
very helpful for us in the future.

STATEMENT OF CONTRIBUTION
On the commencement of internship, the internees were given detailed lecture on the working
of the SBP and its subsidiary SBP-BSC. The first 2 days were of orientation where we learned
all about the organizational structure, main functions, different departments and units, grading
system for employees and other basic things too. Then the internees were allocated in all the
units where we learned about the procedure and the working methods and functions of each
unit, we got insight from employees of all the units. In the end we were grouped into various
groups and were assigned different units to make a comprehensive report. We were assigned 5
units and as we were 5 persons, each of us chose one unit.
Alishba went and understood all the procedures of DAU- deposit accounts unit, and wrote in
detail about that.
Fahad chose PAU- public accounts units and wrote in depth about the procedures and the major
functions performed by that unit.
Farwah was assigned with CMU- currency management unit. She has described all the
responsibilities that fall under this unit.
Haseeb was given PBU- prize bond unit and explained all the types of schemes and security
features and processes concerning prize bonds and other national savings schemes.
Vandna has described the functions of Cash and Treasury Unit, in detail procedures, types of
vaults and counters etc.
We all tried to understand the complex procedures to our full capabilities and explain it as
better as we can.

38
 OVERALL EXPERIENCE 0F INTERNSHIP
The experience with the State Bank of Pakistan proved to be enlightening. The staff of the State
Bank of Pakistan Banking Services Corporation, Hyderabad, proved to be extremely friendly
and cooperative as the staff apprised us of the functioning of the bank as well as taught us about
the operations, responsibilities, and challenges of various units. Besides, the hands-on
experience that we received through practical, interactive projects and attachments to various
units gave me an exposure to the way State Bank performs its duties and responsibilities.
The experience of being in one of the most prestigious organizations of the country is truly
commendable. We have visited all the working units of the SBP-BSC office Hyderabad and we
were amazed to see the potential and working capabilities of all the employees there. We got
inspired by the proper management, coordination and humble behaviors of the staff who has
been very nice and helpful towards all the internees. We got the opportunity to gain the first-
hand experience of how a government's bank at this large scale operates and what are the
procedures involved, that we have only heard in news channels or read in books before. The
tasks assigned to us were also as per our potential and helped us learn a lot. This practical
knowledge has helped us clearing our academic goals and the experience of being in one of the
best working organizations of the country inspired and will enable us to choose the perfect
career for ourselves.

39
40