An Appraisal of "Student Files Operation" of Standard Chartered Grindlays Bank Ltd.

Abstract

Standard Chartered Grindlays bank in a new name in the banking sector not only in Bangladesh, but also in the subcontinent. The bank is fully owned by Standard Chartered Bank. When it was ANZ Grindlays Bank, it was fully member of the ANZ Group. In September 1984, Grindlays bank was incorporated in United Kingdom and is the first bank operating in this part of the world since 1905. The bank is the largest bank among all foreign banks in the country. It has the highest number of branches and ATM booth all over the country. A specialized department of ANZ Grindlays bank, Dhaka opened in September 1985 for servicing the needs of Bangladeshi citizens working abroad. The SSC was shifted from 125 Motijheel C/A to 109 Kakrail, Karnaphuli Garden City during the last week of 1998. One of the major activities of Kakrail Branch is to operate “student Files”. Student file is an authority to the student from Bangladesh Bank. And standard chartered grindlays id one of the authorized dealers of Bangladesh Bank to remit money for educational purposes. The operation of student file has started from the year 1993. Before that, Bangladesh bank gave the permission by itself. The main strength of the bank is, they have more authority to send different types of foreign currency to abroad. So they are playing the monopoly business for some currency like Australian Dollar. The weakness of the bank is the shortage of manpower, manual system of record keeping, problem with the new system are main. Still the bank has the opportunity to expand their operation by providing more manpower to this service and giving initiative for promotional campaign. The banking sector of our country is very competitive. Though the bank is ahead in different segment of banking in this country, they have the threat from the competitors who are giving almost same type of service to the customers. So the bank should keep changing their policy such as reducing the charges to remain the leader in the market.