Internship Report

On

Rural Credit Procedure of Sonali Bank

Ltd.

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 An Internship Report
On
Rural Credit Procedure of SBL

Prepared for

Mr Md. Anhar Sharif Mollah

Department of Business Administration
Daffodil International University (DIU)

Prepared By

Md. Rakibul Islam

ID # 191-14-119
Program: MBA
Major in Finance

Date of Submission: 30th June 2020

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 Letter of Transmittal

30 th June 2020

Mr Md. Anhar Sharif Mollah

Department of Business Administration
Daffodil International University (DIU)
Datta Para, Chou Baria
Ashulia Model Town, Savar, Dhaka

Subject: Submission of the Internship Report.

Dear Sir,
It is a great pleasure for me to submit my internship report on “Rural Credit Procedure of
Sonali Bank Ltd”. I have prepared this report as a partial fulfillment of the semester.
I have attempted my level best to set up this report to the necessary standard. It was surely an
extraordinary open door for me to compose on this paper to complete my hypothetical
information in the practicum field.
I offer my heart full thanks to you to experience this report and make your important remarks.
Yours truthfully,

______________
Md. Rakibul Islam
ID: 191-14-119
Program: MBA
Major in Finance
Daffodil International University

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 Acknowledgement

As a matter of first importance I might want to offer my thanks to the Almighty Allah, whose
imperceptible direction helped me to finish this report.

This report has not only given me some precious experience, at the same time it has made me
grateful to some extremely helpful and knowledgeable people. By working there as an intern, I
have learnt so many things which are very helpful for me in future.

At the very beginning, I want to thanks my academic supervisor Mr Md. Anhar Sharif Mollah
sir who encouraged me to make this report and also provided me all necessary helps and
guidance. He was very helpful and friendly person.

Finally, my deepest appreciation and special thanks goes to official supervisor Syeda Tahmina
(Officer), for extending his support in completing this report. Who helped me a lot during my
internship period with valuable advices, guidance and necessary information?

And last but not the least; I would like to thank all the personnel working at SBL. They made the
environment congenial and favorable for me to understand the task. Without their assistance and
co-operation, this report might not have seen the light of day.

I also apologize heartily for any omitted name whose contribution was also complementary for
any possible aspect.

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 Supervisor Declaration

This is to certify that Md. Rakibul Islam bearing ID number 191-14-119, Program MBA, Major
in ‘Finance’, Business Administration, and DIU- University has completed his internship in
“Rural Credit Procedure of Sonali Bank Ltd.” Mymensingh road branch, Tangail under my
supervision. He have always maintained communication with me and has taken necessary advice
from me to prepare this report. Finally, under my guidance and supervision, he has successfully
prepared this internship report on “Rural Credit Procedure of Sonali Bank Ltd. at
Mymensingh road branch” in semester Spring-2020.

______________________
Mr Md. Anhar Sharif Mollah
Department of Business Administration
Daffodil International University (DIU)

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 Student Declaration

I am Md. Rakibul Islam, student of Master of Business Administration (MBA), under the
Business Administration at DIU—University declaring that this internship report on the topic of
“Rural Credit Procedure of Sonali Bank Ltd. at Mymensingh Road Branch, Tangail. ”
have been prepared only for the fulfillment of the semester as the partial requirement of the
Master of Business Administration (MBA).

I hereby, declare that this report has been solely prepared by me and to the best of my knowledge
and experience which was gathered through work in SBL. It has not been prepared for any other
purpose, reward, or to present anywhere.

Thanking you,

_____________________

Md. Rakibul Islam

ID # 191-14-119
Program: MBA
Major in Finance
Daffodil International University (DIU)

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 Executive Summary

I have prepared my internship report based on the three months long internship program that I
have successfully completed in Sonali Bank Ltd. Largest Bank in Bangladesh as a requirement
of my MBA program in Daffodil International University. This report is focus on financial
statement analysis of SBL.

The first chapter shows different aspects of report like introduction, objective of the report, scope
of the report, limitations.

In Second chapter shows company overview. In this section different important data about SBL.
is provided like Background of the organization, corporate information of the organization,
corporate governance, mission, vision, Products and services, Porter’s five forces and SWOT
analysis.

The Third chapter is all about the project. Definition of loan, purpose of the loan and objective of
the loan of SBL.

The chapter four shows the analysis part that I have collected the data from Sonali Bank Ltd. at-
Court Building Branch employees.

In chapter five I mentioned Findings and Recommendations, Conclusion, References.

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 Table of Content
Sl. No. Particulars Page
Title Page i
Cover Page ii
Letter of Transmittal iii
Acknowledgement iv
Supervisor’s Declaration v
Student Declaration vi
Executive Summary vii
Table of Content viii-x
List of Table xi
List of Figure xi
Abbreviation xii
Chapter 1:Introductory Part 1

1.0 Introduction to the Report 2

1.1 Objective of the Report 2
1.1.0 Board Objective 2
1.1.1 Specific Objectives 3
1.2 Scope of the Report 3
1.3 Data Source 4
1.5 Limitations of the Report 4
Chapter 2:Organizational Part 5

2.1 Background of The Organization 6

2.2 Corporate Information of The Organization 6-7
2.3 Board of Directors 7-8
2.4 Composition of Committees of the Board of Directors 8-9
2.5 Organogram: 9

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 2.6 Mission and Vision 10
2.6.1 Mission 10
2.6.2 Vision 10
2.7 Overview of the Bnak 10
2.8 Some Noteable Features 11-12
2.9 Porter’s Five Forces 13-15
2.10 SWOT analysis of SBL 15-16
Chapter 3: Financial Statement Analysis 17

3.0 Rural Area 18

3.1 Loan 18
3.2 Rural Credit 18
3.3 Rural Credit System 18-19
3.4 Identifying Real Rural Farmers/Borrowers 19
3.5 Eligibility of the Borrowers 19
3.6 Eligibility of the Borrowers 19-20
3.7 Acceptance, Acknowledgement 20
3.8 Application Processing Fee/Charge of Sonali Bank Limited 20
3.9 Maximum Limit for Agricultural Credit 20-21
3.10 Credit Disbursement Through Tk. 10/- Farmer’s Account 21-22
3.11 Revolving Crop Credit Limit System of Sonali Bank Limited 22-23
3.12 Outsourcing in Disbursing and Recovering Agricultural and Rural 23
Credit
3.13 For the Development of the Country’s Agricultural Sector, Various 23
Loan Programs of Sonali Bank Limited (Rural Credit Department )
3.14 Loan Programs Procedure 24-36
Chapter 4: Analysis Part 37

4.0 Project Timeline 38

4.1 Budget Information 38

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 4.2 Sampling Method 38-39
4.3 Report Technique 39-40
4.4 Analysis and Presentation of Data 40
4.5 Likert Scale 40-41
4.6 Analysis 41-47
Chapter 5: Conclusion Part 50

5.0 Findings 51
5.1 Recommendations 51
5.2 Conclusion 52

5.3 References 53
Appendix 54-56

List of Table

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Table Particulars Page
No.
1 Corporate Information of The Organization 6-7
2 Board of Directors 7-8
3 Composition of Committees of the Board of Directors 8-9
4 Capital Structure 11
5 .Branches and Subsidiaries 11
6 Feathers 35-36
7 Project Timeline: 38
8 Budget Information 38-39
9 Likert Scale 41

List of Figure
Figure Particulars Page
No.
1 Organogram 9
2 Porter’s Five Forces 13

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 3 SWOT Analysis 15
4 Question: 1 42
5 Question: 2 43
6 Question: 3 44
7 Question: 4 45
8 Question: 5 46

9 Question: 6 47

Abbreviation

Short Name Full Meaning

Ltd Limited
SBL Sonali Bank Ltd.
BOD Board of Directors
MD Managing Directors
DMD Deputy Managing Directors

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 GM General Manager
DMG Deputy General Manager
AGM Assistant General Manager
SPO Senior Principal Officer
SWOT Strengths, Weaknesses, Opportunities, Threats
CPA Certified Public Accountant

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 Chapter 1
Introductory Part

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1.0 Introduction to the Report:

This report focus on “Rural Credit procedure of Sonali Bank Limited-at Mymensingh Road
Branch, Tangail”. Now the world is a competitive world. So, the bank should provide various
services. In modern age, peoples want more easy way to collect their money and paid their tax
and interest from bank. For this bank provides rural loan for rural people. I work on this because,
I want to find out the banks provide enough amount of loan for the various purpose and loan
helps to improve harvesting and forming or loan replacement/installment is easy or not.

During my work, I have faced various obstacles. By the grace of God and by the help of some
related person, I have overcome those problems successfully. Through internship I become
aware of organizational culture and learn how to show professional excellence to a great extent.
This learning helps me when I finally enter into practical field.
Internship program is the systematic gathering, recording and analyzing of data about the subject
that a student goes to team on the program. The aim of this Internship program is to connect
practical knowledge with theoretical knowledge. The Sonali Bank Limited is the largest state
owned leading commercial bank in Bangladesh. I have worked in the General Banking (account
opening, clearing, signature verifying, transfer, pension payment and cash) of Sonali bank. This
organization gave me the opportunity to know more on different aspects of the organization. So,
I have prepared my internship report on “Rural Credit procedure of Sonali Bank Limited-at
Mymensingh Road Branch, Tangail”.

1.2 Objective of the Report:

1.2.0 Board Objective:

To know the effectiveness of rural loan and analyze whether the loan actually helps to improve
economic condition and to learn about the farmer’s opinion of the loan beneficiaries.

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 1.2.1 Specific Objectives:
 To know the effectiveness of rural loan of Sonali Bank Limited.
 To find out the loan installment and interest process.
 To analyze whether the loan actually helps to improve our economic condition.
 To learn about the farmers opinion of the loan beneficiaries.
 To understand entire branch banking procedure.

1.3 Scope of the study:

This report is based on my practical work experience with Sonali Bank Limited. It will also help
the students to reduce the distinction between realistic and hypothetical knowledge. This report
significantly helped me a lot to understand the atmosphere and environment of an organization.
As I am an internee of SBL, I have access to many different sectors like account opening,
accounting opening signature verifying, clearing, cheque division, pay order writing, accounts,
card division, pension payment etc. It was almost impossible for me to learn everything about all
banking sectors as it was a large financial sector with limited time and all are confidential
because it is a big branch.
This study in fact taken within its canvas of Sonali Bank Limited as a whole though the internship was
done in Mymensingh Road Branch, Tangail. While preparing this report, I have a great opportunity to
have an in depth knowledge of the banking activities practiced by SBL. The research will deal to find
why customers interested to take rural credit loan and how many customers have been involved rural
credit loan by SBL. This report will focus on “Rural Credit procedure of Sonali Bank Limited-at
Mymensingh Road Branch, Tangail”.

1.4 Data Source:

I will design the data of the study in the following way:

 Primary data sources: Primary data has been gathered through face-to-face, semi-
structured interviews and survey questionnaire with the organization peoples and others

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 peoples or inspection in different desks, talking with professionals in casual manner and
planned analysis are the main resources.
 Secondary data sources: Leaflets and manuals of SBL, different publications of
Bangladesh Bank and yearly reports, articles, journals, newspaper are the secondary data
sources. Extensive study of the existing registry files, convenient case clarifications,
observation and reimbursement practice interview with the employee were done to
identify the execution and control and monitoring of the banking system.

1.5 Limitation of the Study:

For preparing a report few obstacles and limitations will come. Like as:
 To complete such report the time that is located is not enough.
 All information could not be collected because of confidentiality.
 Office staffs could not provide sufficient information due to shortage of time.
 It was my first time, doing a report on a banking system in a practical corporate life. So
my limited experience was the main obstacle of this study.
 Information provided in the web site was not sufficient.

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 Chapter 2
Organizational Part

2.1 Background of the Organization:

Banks play the most important role in the economy. Banks collect money from the individuals
and lend them to others. Now banks offer the widest range of financial services and perform lots
of financial functions. Thus, banks have proven that they are the key factor for the business and
economy as well. Sonali Bank Limited is the largest banking institution in Bangladesh, dynamic
in actions, honest in dealings, just in judgment, fair in approaches and devoted to high quality
service to customers and thereby contribute to the growth of GDP of the country throughout

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 stimulating trade and commerce, boosting up export, poverty alleviation, raising living standard
of limited income group and overall sustainable socio-economic development in the country.

2.2 Board of Directors

Sl. No. Name Status with the Bank

01 Mr. Md. Ashraful Moqbul Chairman*
02 Mr. Mohammad Muslim Chowdhury Acting Chairman
03 Mr. Md. Fazlul Haque Director
04 Mr. A.K.M. Rezaur Rahman Director**
05 Mr. Md. Mahboob Hossain Director
06 Mr. Md. Shaheb Ali Mridha Director
07 Mr. Kazi Tariqul Islam Director
08 Mrs. Sabera Aktari Jamal Director
09 Mr. Afzal Hossain Director
10 Mr. Muhammed Asadullah Director
11 Mr. Pradip Kumar Dutta Managing Director & CEO***
12 Mr. Ataur Rahman Prodhan Deputy managing Director
Table 2: Board of Directors

2.3 Composition of Committees of the Board of Directors:

Executive Committee
Sl. No. Name Status with the Bank Status with the
Committee

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01 Mr. Md. Fazlul Haque Director Chairman
02 Mr. Md. Mahboob Hossain Director Member
03 Mr. Afzal Hossain Director Member
04 Mr. Pradip Kumar Dutta Managing Director & Member
CEO
05 Mr. Ataur Rahman Production Deputy Managing Member
Director
Audit Committee
Sl. No. Name Status with the Bank Status with the
Committee
01 Mr. Md. Shaheb Ali Mridha Director Chairman (Acting)
02 Mr. Kazi Tariqul Islam Director Member
03 Mrs. Sabera Aktari Jamal Director Member
Risk Management Committee
Sl. No. Name Status with the Bank Status with the
Committee
01 Mr. Muhammed Asadullah Director Chairman
02 Mr. Md. Shaheb Ali Mridha Director Member
03 Mr. Kazi Tariqul Islam Director Member
04 Mrs. Sabera Aktari Jamal Director Member
05 Mr. Afzal Hossain Director Member
Composition of Shariah Supervisory Committee
Sl. No. Name Status with the Committee
01 Prof. Maulana Mohammad Salah Uddin Chairman
02 Mr. Md. Mahboob Hossain Member
03 Mr. Ataur Rahman Prodhan Member
04 Al-Haj Hafez Maulana Mustafizur Rahman Member
05 Mr. Md. Mukhlesur Rahman Member
06 Mr. Md. Ataur Rahman Member

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 Table 3: Composition of Committees of the Board of Directors:

2.4 Organogram:

Figure 1: Organogram

2.5 Mission and Vision:

2.5.1 Our Mission:

To provide better facilities and services to the customers and contributing towards socio-
economic development of the country.

2.5.2 Our Vision:

Socially committed leading banking institution with global presence.

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 2.6 Some Notable Features of the Bank are as Follows:
There have some features of Sonali Bank Limited is given below:

Capital Structure:

Authorized Capital Tk. 6000.00 Core

Paid up Capital Tk. 3830.00 Core
Table 4: Capital Structure

Services of the Organization:

Our Core Business:

 Trade Finance
 Investment
  Loan Syndication
Corporate Banking
 Government Treasury
 Project Finance  Foreign Exchange
Function
 SME Finance Dealing
 Money Market Operation
 Remittance  International Trade
 Rural and Micro credit
 Lease Finance  NGO-Linkage Loan
 Capital Market Operation
 Consumer Credit Consumer Credit
 Special Small Loan

Other Business/Services:

 Government Treasury Bonds  Utility Bills Collection

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 Locker Service  Ancillary Services
 A.T.M. Card  Merchant Banking

SBL Banking Facilities:

 Personal Banking
 Rural Credit
 Micro Credit
 International Banking
 Industrial Financing
 Deposit and Credit Schemes
 SME Banking
 Foreign Currency A/C
 Investment Bond

2.7 Porter’s Five Forces:

Porter’s five forces, also known as P5F was created by Michael E. Porter in 1979, is a method of
examining the attractiveness of an industry or organization. It does so by looking at five forces
which act on that industry. These forces are determinants of that industry’s or organization’s
profitability. The five forces are:

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 Figure 2: Porters Five Forces

Threat of new entrants:

Advances in data improvement have completely reduced the obstacles to entry in the banking
industry day by day. Because of the appropriation of Internet banking, conveyance channels are
currently not limited to traditional branch Networks. Forthcoming clients everywhere throughout
the world could get to the web and scan for banks offering the highest interest rates or
administrations with the best highlights. Moreover, new banks will likewise have the capacity to
contend by utilizing IT to reduce their cost and expand their dispersion channels. Another factor
that brings down the obstruction to passage would be the low exchanging cost, for example, the
exchange of cash from one bank then onto the next. Being a government-controlled bank, Sonali
Bank think less about the dangers it gets from the new participants.

Bargaining power of buyer/customers:

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Haggling intensity of clients is moderately low as it is mostly constrained by the legislature.
Here, exchanging costs are low for clients to leave Sonali Bank Ltd and simple to pick up
banking administrations from different banks for the clients. Despite the fact that there are other
Government banks, for example, Janata Bank, Agrani bank and so on, it isn't worked based on
client deals.

Threat of substitutes:

As far as danger of substitutes, the financial business faces an expanding number of substitutes
despite the fact that deregulation has brought huge mergers and obtaining. This is for the most
part a direct result of the capacity of present day broadcast communications to dispose of
separation that frequently thwarted outside manages an account with no branch systems in
nearby markets. In spite of the fact that there are very few substitutes accessible. The
administration 15 has not had the option to think of any imaginative sparing plans to pull in the
overall population, consequently lessening the danger to of the substitutes to the financial
business. Along these lines, the administrations that are given by Sonali Bank are pretty much
equivalent to different banks.

Bargaining power of suppliers/depositors:

For the most part, IT has expanded the bartering intensity of investors. The rise of tele-banking
and internet banking has engaged investors. Contributors can rapidly utilize the web to figure out
which bank is offering the most elevated financing cost and store their cash there, while buyers
do the inverse (least loan fee) in looking for credits. In this manner, cost affectability in the
business has expanded along with the quantity of substitutes accessible for investors.

Competitive rivalry:

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Outside and nearby banks currently will in general contend all the more straightforwardly with
each other over a similar gathering of purchasers. Government banks are the immediate
contenders of Sonali Bank Ltd that are taking a stab at a similar piece of the pie and clients.
Also, neighborhood banks have a drawn out trust relationship with their clients, which despite
everything give them a bit of leeway. The nearby banks are quick to emulate and since the
financial framework is an exceptionally straightforward one, impersonation is simple,
accordingly expanding the battle between the contenders. Other nearby banks are attempting to
catch the lower center and the center white collar class fragment that are right now the clients of
these banks. With their generally low loan fees charged to the clients and higher premium
restitution rates contrast with Sonali Bank Ltd, they are solid dangers as they have very lower
changing expense to the clients.

2.8 SWOT Analysis of Sonali Bank Ltd.

Figure 3: SWOT

Strengths:

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 Strong Management (Sonali bank Bangladesh)
 Good Customer Service (Sonali bank Bangladesh)
 Economies of Scale (Sonali bank Bangladesh)
 Brand Name (Sonali bank Bangladesh)
 Training System for Stuff (Sonali bank Bangladesh)

Weaknesses:

 High Debt Burden (Sonali bank Bangladesh)

 Insufficient workers (Sonali bank Bangladesh)
 Lack of New Technology (Sonali bank Bangladesh
 Weak Supply Chain (Sonali bank Bangladesh)
 Lack of Motivation (Sonali bank Bangladesh)

Opportunities:

 Online Banking (Sonali bank Bangladesh)

 Banking Software ( Sonali bank Bangladesh)
 Expert Employee (Sonali bank Bangladesh)
 Branch Expansion (Sonali bank Bangladesh)

Threats:

 Internal Competition (Sonali bank Bangladesh)

 Govt Regulations (Sonali bank Bangladesh)
 Change in Tastes of Customers (Sonali bank Bangladesh)
 Substitute Products (Sonali bank Bangladesh)

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 Chapter 3
Rural Credit Procedure

3.0 Rural Area:

Rural area is an area where lower building density, agricultural settlement, extensive public
spaces, and low ratio of built-up area is called rural area.

3.1 Loan:

Loan is the written agreement of lending money and give someone money that will be repaid
with interest or an object that will be returned.

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3.2 Rural Credit:
Bangladesh is fundamentally an agricultural particular nation. A real parcel of the number (about
85%) lives in those rustic regions. Around 75% of the dynamic provincial number relies on upon
farming worker similarly as that fundamental sourball of their vocation. Agribusiness helps over
22% of the GDP. Larger part of the farmers need aid possibly little or minor. Thereabouts credit
assumes a fundamental part to expand those capital bases will help agribusiness generation. For
this end in perspective, Sonali bank restricted those biggest state possessed business bank need
been playing a basic part in the socio-investment advancement & neediness assuagement since
1973. Keeping in perspective that kudos will be a standout amongst the numerous inputs that
finish the cycle about agricultural processing Sonali bank extending country credit through 1179
extensions through that nation. Sonali bank set acquainted backhanded provincial credit
previously, 1973 through those afterward IRDP.

3.3 Rural Credit System:

Rural credit system is divided into two segments: an unorganized or informal system of
moneylenders, traders, and input suppliers; and a formal, organized segment constituted by some
organization. For Example: cooperative banks, regional rural banks, commercial banks, and
nonbanking financial companies.

3.4 Identifying Real Rural Farmers/Borrowers:

The genuine ranchers/borrowers might be recognized through the check of their National ID
Card and Agricultural Inputs Assistance Card. The ranchers, who opened ledger at TK. 10 to
profit of agrarian data sources help, might be distinguished just based on the „pass book‟ of their
financial balance. The rancher who has National ID Card yet has no Agricultural Inputs
Assistance Card might be permitted advance tolerating the endorsement gave by the Union
Parishad Chairman or by the Headmaster/Principal of neighborhood school/school or by the
satisfactory individual to the bank.
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3.5 Eligibility of the Borrowers:

Ranchers straightforwardly associated with farming, will be viewed as qualified for horticultural
credit. Individuals who are occupied with pay creating exercises in provincial regions are
likewise qualified for credit office in the concerned segments of horticultural and country credit.
Be that as it may, by and large any advance defaulter won't be qualified to get new credit.

3.6 Simplification of Application Form:

Application Form for the rural acknowledge ought to be disentangled beyond what many would
consider possible to empower the ranchers in huge numbers towards bank credit. The banks will
take activities to rearrange the Application Form particularly for crop advance keeping in view to
the instructive capability of the ranchers, essential opportunity to fill in the structure,
convenience of the data looked for in the structure. So as to diminish delay in topping off Loan
Application Form and other related employments every important guidance will be given to the
candidate at the hour of dispersion of the Application Form. In regard of rural credit, client
assistance at most extreme level is to be guaranteed. Once more, all advantageous inquiries, if
necessary, will be made in one occasion. Banks should find a way to make application Form for
the rural credit increasingly accessible for the ranchers.

3.7 Acceptance, Acknowledgement and Consideration of Application Form:

The concerned bank offices will authorize crops advance or different advances in a single
occurrence as indicated by the yearly necessities of the borrower as per the credit standards. Be
that as it may, every single fundamental groundwork for payment of credit will be finished at any
rate 15 (fifteen) days before the season begins for a specific yield. For this reason, the concerned
bank offices will gather a yearly creation plan alongside the credit application from every
rancher. On the off chance that important, ranchers might be permitted to change their creation
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plan on sensible grounds. Every application structure got from the borrower will be recognized.
The delay among authorizing and payment of credit ought to be think. The grumblings, assuming
any, got from the candidates will be tended to instantly. All things considered, credit application
for crop creation ought to be prepared inside 10 working days. The dismissed advance
applications will be recorded in a different register and protected for examination by the
investigation group of Bangladesh Bank and the evaluators of the individual banks.

3.8 Application Processing Fee/Charge of Sonali Bank Limited:

Record can be opened by keeping Tk 10/ - just against rancher's application. Country Peoples
open 10 Tk sponsorship sparing a/c for their own exchange. In the event that anybody needs to
open a 10 Tk sparing a/c, the person in question needs to pay in any event 20 taka as an
underlying installment. On the off chance that anybody needs to check book in that day, at that
point the individual needs to pay 50 Tk extra for check book.

3.9 Maximum Limit for Agricultural Credit:

The most extreme restriction of yield advance will be the sum specified in the credit standards
for development of 15 bighas (5 sections of land or 2 hectors) of land. In any case, for
development of sugarcane and potato, the most extreme cutoff will be the sum specified in the
credit standards for development of 2.5 sections of land of land. Banks may, in any case,
consider credit application for development of bigger size after this strategy and modified of land
under their own terms and conditions.

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3.10 Credit Disbursement Through Tk. 10/- Farmer’s Account as a Part of
Financial Inclusion and Encourages the Farmers to Keep These Accounts
Operative
Following initiatives are taken to encourage banking activities like credit disbursement,
receive and withdrawal of deposit, remittances and collection of subsidy through this account.

It is mentionable here that, as a part of financial inclusion the quarterly reports submission by
banks regarding utilization of 10 Tk. farmers' accounts including depositing the Government
subsidy, will be continued.

3.11 Revolving Crop Credit Limit System of Sonali Bank Limited:

In order to ensure continuous credit flow a 3 (three)-year revolving crop credit limit system has
been introduced. Farmers engaged in continuous crop cultivation will get facilities under this
scheme. Credit will be sanctioned and disbursed by renewing the limit subject to adjustment of
previous crops loan in full and without requiring any further documentation. Documentation
should be as simple as possible. Bank will delegate the power of loan sanctioning to the manager
of the concerned branch. If changes in the production plan and higher amount of loan are
required, the farmers may apply for enhancement of the limit. Banks will develop and put in
place this scheme incorporating the provision for security, credit limit, rate of interest etc. in line
with the Agriculture Credit Policy and Programmers.

3.12 Outsourcing in Disbursing and Recovering Agricultural and Rural

Credit:

The exercises of farming credit dispensing and recuperation need close checking. It is

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much of the time revealed that, rural advance dispensing and recuperation just as check of appropriate
use of horticultural advance is hampering because of lacking labor. Banks should choose adequate labor
so as to take care of the issue. If unrealistic to choose customary representatives, banks may designate
representatives on everyday schedule (no work, no compensation). In addition, Banks having restricted
labor may draw in an organization/foundation as an operator or delegate to choose borrowers, to plan
advance proposition and to run different exercises identified with assessment, authorizing, credit
payment, observing, recuperation, and so forth for its rustic credit activity.

3.13 For the Development of the Country’s Agricultural Sector, Various Loan
Programs of Sonali Bank Limited (Rural Credit Department) :

Bangladesh is primarily an agricultural country. A major portion of the population (about 85%)
lives in the rural areas. About 75% of the active rural population depends on agriculture as the
main source of their livelihood. Agriculture contributes about 22% to the GDP. Majority of the
farmers are either small or marginal. So credit plays a paramount role to augment the capital base
to support agriculture production. For the development of the country’s agriculture sector, Sonali
Bnak Limited provides various loan programs like as:

 Various Loan Programs by the Rural Credit Department for Farmers

Agricultural Producers:

In order to enrich the country's agricultural sector and develop overall economic development
including development of rural economy, Sonali Bank Limited is currently conducting banking
activities across the country through a large network of 1204 branches. In order to improve the
fortunes of the poor and neglected farmers of this country, Sonali Bank Limited has been
providing services of millions of customers by launching various types of credit programs in the
context of need / time requirements. Apart from natural disasters such as flood, bore, cyclone,
extreme rainfall /drought, drought etc. Due to natural disaster, various loan programs among the
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affected farmers Wife / Benefits of the Sonali Bank Limited has been providing humanitarian
service and support. Sonali Bank Limited is taking innovative entrepreneurs by adopting
different types of project loan programs to strengthen the country's agricultural sector and the
entrepreneurs are making important contributions to the overall economic development of the
country by promoting their talent in the agricultural sector.

3.14 Loan Programs Procedure:

Sonali Bank Limited is currently playing an important role in the socio-economic development
of the country through the following loan program:

 Special Agricultural Credit Program (SACP):

There have some objectives for special agriculture credit program.

Objectives:

Under the special agricultural credit program launched in 1977, to implement the government's
efforts to make the nation self-reliant in food and to ensure a safe food safety system for all by
increasing production of all crops in the light of National Agricultural Policy, Sonali Bank
Limited has been promoting small, marginal, brackish farmers Growing (up to 5.00 acres) is
growing Ray has been providing unsecured loans. At present Sonali Bank Limited has been
providing crop loan through the legal process introduced by the Bangladesh Bank through 707
branches of 1639 unions of 394 upazilas of 64 districts across the country. Recently late loans
are being given to produce wheat / applecum, strawberry, mushroom, agar etc.

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Loan limit:

According to the Bangladesh Bank policy, a farmer can avail loan facilities for up to 15 bighas
(5.00 acre or 2.00 hectares) for production of crops. But for the cultivation of sugarcane and
potato, it can get maximum up to 2.5 acres of debt.

Validity:

As per crop production and loan payment schedule supplied by Bangladesh Bank

 Rotating Wheat Crop Loan:

Rotary grain credit program has been introduced for 03 (three) years. Under the program, the
loan will be renewed automatically in the next year only after paying the interest of only one and
two years after taking loan through first application and documentation.

Tenant farmers:

Loans: Without the guarantee of the landlord, the farm loan program of the peasantry has been
started on easy terms.

Interest rate:

Annual 10% simple interest however, for annual pulses, oilseeds, spices and corn, the annual
interest is 4%

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  3.16 Fish farming loan program in pond:

In 1977, the fisheries farm credit program was launched by Sonali Bank Limited in the pond and
in 1995, after the demand of the time, this loan program, again with credit norms, was expanded
through 200 (two hundred) selected branches.

Objectives:

Promotion of fisheries by encouraging fish farming in easy pockets of existing ponds including
hajj-fun pond reform.

Loan limit:

Maximum loan limit of 5.00 (five) lakhs

Validity:

Maximum 3 (three) years

Equity:

Minor 50% of the project's non-recurring expenditure and 30% of the recurring expenditure
should be borne by the entrepreneur.

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Interest rate:

Annual 12% simple interest

 Farming & off-farming loan program:

There have some formalities of farming and off-farming loan program.

Objectives:

Increasing the working people of the country, making them more work oriented, improving the
quality of life through increasing the income, encouraging investment, creating employment
opportunities, reducing import, increasing production in small industries and socio-economic
development of the country. Throughout the entire branch of Sonali Bank Limited in 1994, non-
agricultural and non-farming loan programs were launched.

Agricultural / Non-Agricultural Debt Program Sector / Sub-sector:

A) buy fresh cow / buffalo; B) Breeding of cattle; C) setting up dairy farms; D) establishment of
goat farm; E) establishment of poultry farm; F) All types of hatcheries; G) Fishery farm / pond
fishery farming; H) Shrimp cultivation; I) Gardens: Nursery, banana cultivation, pineapple
cultivation, papaya cultivation, coconut cultivation; J) Flowering cultivation; T) Amarkunj
development; l) Establishment of biogas plant and earthworm fertilizer etc.

Loan limit:
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Maximum 15.00 (fifteen) lakhs

Validity:

Maximum 3 (three) years

Equity:

Minimum 50% of the project's non-recurring expenditure and 30% of the recurring expenditure
should be borne by the entrepreneur.

Interest Rate:

Annual 11% simple interest

 Sugarcane Farm Credit Program in Mills:

Sugarcane farm credit program in mills follow this requirement is given below:

Loan limit:

Based on the nature and requirements of the project.

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Payment Term Period:

Maximum 2 (two) years

Interest rate:

Annual 10% simple interest

 Special Investment Programs:

There have some investments program of SBL is given below:

Objectives:

In order to increase the income of the underprivileged population and create self-employment for
the country's rural economy, and to meet food shortage, protein and child food shortage in the
country, the program was launched in 1993. The program is continuing with the currently
selected 236 branches.

Sectors under special investment programs:

 Dairy farms;
 Poultry farms;
 Fisheries farming;
 Fattening cattle;
 Paddy / goat farm;
 Establishment of artificial breeding centers;

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Loan limit:

Maximum 5.00 (five) lakh

Validity:

According to the nature of the loan, payment period ranges from 1 (one) to 3 (three) years.

Equity:

At least 20% of the total project cost must be borne by the entrepreneurs

Interest rate:

Annual 12% simple Interest

 Social forestry loan program:

There is no alternative to protecting pollution-free, clean, beautiful and clean environment. In

order to play a more favorable role in protecting the environment, a long term loan program
launched by the Sonali Bank Limited in the field of social forestry loan program was started in
2004.

Objectives:
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To protect the environment and public health of the country;

B) Encourage investment growth in agricultural sector;

C) Ensuring the best use of land through establishment of forest / fruits / medicinal gardens in
the fallen / non-cultivable and low-arable land;

D) Improving the quality of living by increasing the income of the people of the small capital;

E) To create greater employment opportunities for socio-economic development or unemployed /

unemployed people of the country.

Investment sector:

Establishment of small / medium / large sized gardens with different types of forest / fruit /
medicinal plants.

Loan limit:

The maximum limit of loan is 15.00 (fifteen) lakhs However, the maximum limit of the loan
limit is disposable by the Head Office.

Payment Term Period:

The repayment period will be 15 (fifteen) to 20 (twenty) years.10 (ten) years for forest
cultivation and maximum 5 (five) years for fodder forestry. Grace period (Grace Period) is
considered. In case of forest cultivation, 10 (ten) semester and the amount of loan will be payable
in 20 (twenty) semester installments for the salvage.

Equity:

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20% of the total production cost will be borne by the entrepreneurs and remaining 80% will be
given to the bank

Interest rate:

Annual 10% simple interest

 Agricultural farm loan program:

The loan program was launched by Sonali Bank Limited in 1993 to create an opportunity to
increase investment through prospective entrepreneurs in both the cities and villages, by
increasing the agricultural industry more and more throughout the country.

Objectives:

A) Improve quality of living by increasing the income of the working people

B) Increasing the production of amicable food

C) Encouraging investment in agricultural industries

D) Increasing employment opportunities

E) Consolidation / expansion / enhancement of production activities of producing industrial units

E) Consolidation / expansion / enhancement of production activities of production industrial

units

F) Reducing imports and saving of foreign currency by increasing agricultural production.

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Sectors under Agricultural Farm Loan Program:

A) Dairy Farm;

B) Cattle fattening

C) Politry Farm Layer and Broiler)

D) Poultry hatchery

E) Fisheries farm;

F) Fish hatchery;

G) Shrimps hatchery

H) Paddy cultivation scheme;

I) Goats / lumber farms;

J) Duck Farm etc.

Loan limit:

The debt ceiling will be determined based on the size, size, nature and total permanent and
current expenditure of the project.

Loan Term:

Permanent capital loan is valid for a maximum period of seven years (seven years) and the
current capital loan is 1 (one) year.

Equity:

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 A) Depending on the complexity of the project, the ratio of equity and debt will be at least 50:50
for permanent capital expenditure.

(B) In case of current capital loan, the ratio of equity and debt will be at the minimum 30:70.

Payment method:

In case of permanent capital loan, the premium will be payable on quarterly basis. After the
grace period ends, payment will be made in accordance with the scheduled schedule. Grace
period is determined by maximum 12 (twelve) months, depending on the nature of the project.

Interest rate:

Annual 12% simple interest

 Features:

SL. Project/Programs Target group Loan size in Tk. Rate of

Interest
(%)
A. Bank's own Program
1 Bank-NGO Linkage wholesale Poor people According to 13
Credit. project size
2 Credit for Urban women Micro Urban women Highest - 5,00,000 12
Enterprise Development- CUMED Entrepreneurs
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 3 Goat Rearing Small & Medium According to 12
Entrepreneurs project size
4 Swanirvor Poor Landless people Highest - 40,000 11
5 Unmesh Micro Entrepreneurs Highest - 50,000 12
6 Daridra Bimochane Sahayta Rin Hard core poor Highest - 50,000 11
7 Rural small Business Small Entrepreneurs Highest - 50,000 12
8 Small Farming Loan Small Entrepreneurs Highest - 50,000 12
9 Loans for SIDR affected Area SIDR affected People Highest - 20,000 08
10 Marginal and small Farms System Marginal, poor & Highest - 10,000 11
Crop Intensification Pro.- MSFSCIP small farmer
11 Crop Godown credit project Small & Medium Highest - 10,000 11
farmer
12 Herbal, Forestry, Medicinal and Poor energetic youth Highest - 25,000 11
Nursery development Credit
13 Loan to Salt Growers Actual Salt producer Highest - 44,000 12
per acre
14 Loan for disabled people Disabled people Highest - 50,000 08
15 Sonali Bank-BARD, Comilla Bittahin rural male & Highest 10,000 10
Priogik Gabesana Rin Prokalpa female
16 Sonali Bank-RDA, Bogra Priogik Bittahin rural male & Highest - 10,000 10
Gabesana Rin Prokalpa female
17 Jago Nari Grameen Rin Bittahin rural female Highest - 25,000 11
Karmachuchi
B. BRDB-UCCA
1 BRDB Crop Lending Small & Medium Highest 8,000- 10
farmer 15,000
2 Shrimp Culture Small & Medium Highest 2,333- 10
farmer 28,000
3 Wogrmen Development Proam Co-operative poor Highest 1,500- 9
female member 20,000
4 RLP (Rural Livelihood program) Small & Medium Highest 5,000- 6.25

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 farmer 20,000
Table 6: Features

 To Entrepreneurs Interest in Talking Loan of Agriculture:

Under the mentioned program, a request is made to contact the branches of Sonali Bank Limited,
near the farmers / entrepreneurs interested in borrowing agricultural loans.
If any kind of co-operation is not received from the branch or any kind of harassment, farmers /
entrepreneurs will contact the Regional Office / Principal Office / General Manager's Office / or
Deputy General Manager, Rural Credit Department, Sonali Bank Limited, Head Office, Dhaka.
The request was made.
 Head office phone number 9565364, 9567540 and mobile 01730321141

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 Chapter 4

Analysis Part

4.0 Problem Statement:

The focus of the problems that concentrated on the effectiveness of the rural loan at-
Mymensingh Road Branch, Tangail.

4.1 Project Timeline:

Task Sep-Oct Oct Oct-Nov Nov Nov (21- Dec

(25-5) (6-20) (21-15) (16-20) 31) (1-16)
Literature Search and
Review
Questionnaire preparation

Field Work 3 days

Data collection

Data processing

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Data analysis

Final Report witting

Total = 78 days
Table 7: Project Timeline:

4.2 Budget Information:

Name Taka
Transportation cost 1400
Phone call Cost 30
Internet Bill 800
Printing for Organizational, Literature, Topic, 1250
Research, Actual task, Analysis, Introductory
part
Final report Printing & Binding Cost 600
Total Cost 4080
Table 8: Budget Information

4.3 Report Technique:

In this research report the researcher following various sources like as:

Report Types:
 Investigate.

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Research Instrument:
 Questionnaires.
 Likert Scale Question.
 Microsoft Office Word
 Microsoft Excel etc

Contact Method:
 Survey Questionnaire.

4.4 Analysis and Presentation of Data:

In this section I have used a questionnaire for the analysis of my topic- “Rural Credit
Procedure of Sonali Bank Ltd. at- Mymensingh Road Branch, Tangail”. The questionnaire
survey was distributed among the people of present Sonali Bank Ltd. employees from different
department. My number of population was 350. I have taken 10% sample size from my
population. The question patterns are in “Likert scale”.

Number of question-06

Number of respondants-35

Pattern of Questionnaire- Likert scale

4.5 Likert Scale:

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In order to analyze the data, I have used Likert scale. Where 1 stands for only strongly disagreed
customers, 2 stands for only disagreed customers, 3 stands for the neutral customers, 4 stands
for agreed customers, and 5 stands for strongly agreed customers.
The scale has been shown in below:-

Customer Opinion Weighted

Strongly Disagree 1

Disagree 2

Neutral 3

Agree 4

Strongly Agree 5

Table 9: Hypothesis Scale

4.6 Analysis:

Questionnaire Development:
For fulfilling the objectives some related hypothesis have been constructed for this study:

1. Bank provides enough amount of loan for the various purposes.

2. Loan helps to improve your harvesting/forming.
3. Loan replacement/installment is easy.
4. Loan actually helps you to improve your economic condition.
5. Many farmers around you are benefitted by using this loan.
6. Loan interest is overall bearable.

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Graphical Representation:

Question: 1
Q: 1. Bank provides enough amount of loan for the various purposes.

Question 1
Strongly Disagree Disagree Neutral Agree Strongly Agree

6%

11%

40%

14%

29%

Figure 4: Question: 1

Interpretation: Bank provides enough amount of loan for the various purposes. In this
hypothesis 6% of respondents are strongly disagreed, 11% are disagreed, 14% respondents are
neutral, 29% respondents are agreed and 40% respondents are strongly agreed.

Approximately, 69 % respondents had acknowledged that bank provides enough amount of loan

for the various purposes.

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 Question: 2

Q: 2. Loan helps to improve your harvesting/forming.

Question 2
0% 0%
Strongly Disagree Disagree Neutral Agree Strongly Agree

6%

20%

74%

Figure 5: Question: 2

Interpretation:

Loan helps to improve your harvesting/forming. In this hypothesis 0% of respondents is strongly

disagreed, 0% is disagreed, 6% respondents are neutral, 20% respondents are agreed and 74%
respondents are strongly agreed.

Approximately, 94 % respondents had acknowledged that Loan helps to improve your

harvesting/forming.

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 Question: 3

Q: 3. Loan replacement/installment is easy.

Question
3
Strongly Disagree Disagree Neutral Agree Strongly Agree

14%

34%
17%

9%
26%

Figure 6: Question: 3

Interpretation:

Loan replacement/installment is not easy. In this hypothesis 17% respondents are agreed and
14% respondents are strongly agreed 9% respondents are neutral, 34% of respondents is strongly
disagreed, 26% is disagreed.

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Approximately, 60 % respondents had acknowledged that loan replacement/installment is not

easy.

Question: 4

Q: 4. Loan actually helps you to improve your economic condition.

Question 4
Strongly Disagree Disagree Neutral Agree Strongly Agree

0%

9%

37%
23%

31%

Figure 7: Question: 4

Interpretation:

Loan actually helps you to improve your economic condition. In this hypothesis 0% of
respondents is strongly disagreed, 9% is disagreed, 23% respondents are neutral, 31%
respondents are agreed and 37% respondents are strongly agreed.

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Approximately, 68 % respondents had acknowledged that loan actually helps you to improve

your economic condition.

Question: 5

Q: 5. Many farmers around you are benefitted by using this loan.

Question 5
Strongly Disagree Disagree Neutral Agree Strongly Agree

6%
8%

43%
20%

23%

Figure 8: Question: 5

Interpretation:

Many farmers around you are beneficial by using this loan. In this hypothesis 6% of respondents
is strongly disagreed, 8% is disagreed, 20% respondents are neutral, 23% respondents are agreed
and 43% respondents are strongly agreed.

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Approximately, 66 % respondents had acknowledged that loan actually helps you to improve

your economic condition.

Question: 6
Q: 6. Loan interest is overall bearable.

Question 6
Strongly Disagree Disagree Neutral Agree Strongly Agree

9%
14%

17%
34%

26%

Figure 9: Question: 6

Interpretation:

Loan interest is overall bearable. In this hypothesis 14% of respondents is strongly disagreed,
17% is disagreed, 26% respondents are neutral, 34% respondents are agreed and 9% respondents
are strongly agreed.

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 Chapter 5

Findings, Recommendations

& Conclusion

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5.0 Findings:
After researching, I have some findings which are given below-

 For rural area, SBL provides big amount of loan to the customer are more capable for
getting loan that for better economic growth of the country.
 Bank provides enough amount of loan for the agriculture sector that is why farmers are
interested to take the loan.
 To create better client the bank should decrease the rate of interest on different sector,
especially rural loan for rural people.

5.1 Recommendation:

After doing research, I have some findings. Due to problems of that branch I have given some
initial solutions to solve the problem immediately. Based on my 12 weak observations in the
bank, I achieved much practical knowledge. At the time of the bank:

 The bank should update its loan strategy in sustainable and appropriately enough to
survive in the market.
 With sufficient loan farmers can efficiently make use of harvesting process, they can buy
modern tools, methods and machinery.

 Loan installment time duration should be increased so that the borrower can utilize their
debt facility properly for profit maximization.

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5.2 Conclusion:

Banks play the most important role in the economy. Banks collect money from the individuals
and lend them to others. Now banks offer the widest range of financial services and perform lots
of financial functions. Thus banks have proven that they are the key factor for the business and
economy as well. Sonali Bank Limited is the largest banking institution in Bangladesh, dynamic
in actions, honest in dealings, just in judgment, fair in approaches and devoted to high quality
service to customers and thereby contribute to the growth of GDP of the country throughout
stimulating trade and commerce, boosting up export, poverty alleviation, raising living standard
of limited income group and overall sustainable socio-economic development in the country.
Bangladesh is fundamentally an agricultural particular nation. A real parcel of the number (about
85%) lives in those rustic regions. Around 75% of the dynamic provincial number relies on upon
farming worker similarly as that fundamental sourball of their vocation. Agribusiness helps over
22% of the GDP.

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5.3 References:

 Sonalibank.com.bd. (2017). Sonali Bank Limited. [online] Available at:

https://www.sonalibank.com.bd/ [Accessed 13 March. 2020].

 Dspace.bracu.ac.bd. (2017). Cite a Website - Cite This for Me. [online] Available at:
http://dspace.bracu.ac.bd/bitstream/handle/10361/4441/10264016.pdf?sequence=1
[Accessed 15 March. 2020].

 Sonalibank.com.bd. (2017). Cite a Website - Cite This for Me. [online] Available at:
https://www.sonalibank.com.bd/PDF_file/financialreport/2016/Auditors_report_financial
_statement_2016.pdf [Accessed 13 March. 2020].

 Dspace.bracu.ac.bd. (2017). Cite a Website - Cite This for Me. [online] Available at:
http://dspace.bracu.ac.bd/bitstream/handle/10361/4135/An%20internship%20report.pdf?s
equence=1 [Accessed 18 March. 2020].

 Sonalibank.com.bd. (2017). Cite a Website - Cite This for Me. [online] Available at:
https://www.sonalibank.com.bd/PDF_file/financialreport/2013/SBL-Fin&AdtRep-
2013.pdf [Accessed 28 Feb. 2020].

 Sonalibank.com.bd. (2017). [online] Available at:

https://www.sonalibank.com.bd/mission.php [Accessed 29 Feb. 2020].

Report:

 Annual Report – 2015, 2014, 2013 and 2012 of SBL.

 Several Reports in SBL staff college library
Appendix:
This is Md. Rakibul Islam, student of Daffodil International University, ID: 191-14-119, Major:
Finance. Dear respondents, the purpose of this survey is to collect data for an internship report
which is largely based on the quest to find out the financial statement analysis of Sonali Bank
Ltd. It would be a big help for me if you kindly take a moment and go through the questionnaire

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 and answer them according to your own experience. All the information of yours will be kept as
highly confidential.

Name:
Gender:
Age:
Designation:

Please Fill-up the Questionnaire

Q 1: Bank provides enough amount of loan for the various purposes.

 Strongly Disagree
 Disagree
 Neither Disagree nor Agree
 Agree
 Strongly Agree

Q 2: Loan helps to improve your harvesting/forming.

 Strongly Disagree
 Disagree
 Neither Disagree nor Agree
 Agree
 Strongly Agree

Q 3: Loan replacement/installment is easy.

 Strongly Disagree
 Disagree
 Neither Disagree nor Agree
 Agree

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 Strongly Agree

Q 4: Loan actually helps you to improve your economic condition.

 Strongly Disagree
 Disagree
 Neither Disagree nor Agree
 Agree
 Strongly Agree

Q 5: Many farmers around you are benefitted by using this loan.

 Strongly Disagree
 Disagree
 Neither Disagree nor Agree
 Agree
 Strongly Agree

Q 6: Loan interest is overall bearable.

 Strongly Disagree
 Disagree
 Neither Disagree nor Agree
 Agree
 Strongly Agree

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 Thank You for Giving your Valuable Time

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