P/N (Personal identification number)

 A personal identification number is a secret numeric password shared between a user and a system that can be used to authenticate the user to the system. PINs are most often used for ATMs but are increasingly used at the Point of sale, for debit cards and credit cards. Apart from financial uses, GSM mobile phones usually allow the user to enter PIN between 4 and 8 digits length. The PIN is recorded in the SIM card.

A personal identification number (PIN, pronounced "pin"; often redundantly PIN number) is a numeric password shared between a user and a system, that can be used to authenticate the user to the system. Typically, the user is required to provide a non-confidential user identifier or token (the user ID) and a confidential PIN to gain access to the system. Upon receiving the user ID and PIN, the system looks up the PIN based upon the user ID and compares the looked-up PIN with the received PIN. The user is granted access only when the number entered matches with the number stored in the system. Hence, despite the name, a PIN does not personally identify the user.^[1]

PINs are used with banking systems (where the identifying token is a card), but are also used in other, non-financial systems. The PIN is not printed or embedded on the card but is manually entered by the cardholder during automated teller machine (ATM) and point of sale (POS) transactions (such as those that comply with EMV), and in card not present transactions, such as over the Internet or for phone banking.

Online CIB

 CIB means Credit Information Bureau. With a view to strengthening credit discipline and streamlining all sorts of data in a  systematic  way  for  formulation  of  monetary,  economic  and  credit  policy,  a  full-fledged  CIB  was  established  in Bangladesh Bank on 18/08/1992. Full particulars of all borrowers and guarantors (individual/firms/company) of all banks and NBFI in Bangladesh and whose outstanding balance is Tk. 50000 and above and defaulter credit card borrower of Tk 10000 and above are maintaining in the CIB department.

Credit Information Bureau (CIB) is a credit record of an individual, which contains the repayment history of liability. The CIB is generated from central bank of a country. In the previous time, the CIB was generated manually but now a days it is generated through online from the server of Central Bank. In manual process it was a lengthy process which took about 15 to 20 days to generate, but now it requires only few seconds. The financial institutions which engaged with lending to others must use CIB to know the credit history of applicant.

In Bangladesh there is loan default culture exists. At present 10% amount of loan is classified. This type of loan is called non-performing. To avoid the worst situation of default loan, BB has taken some measures. Online CIB is one of them.

Before sanctioning of any loan (and other purposes also) clean report of the borrower and guarantors is compulsory to obtain for the banking and NBFIs. So, there is no possibility of concealment of fact by any bad elements. As a result old bad borrowers are not getting fresh loan resulting reduction in bad loans. Defaulter borrowers will not be eligible to participate in the parliament election, be a CIP, be a director in a bank or NBFI, joint venture entrepreneur, member of stock exchange etc.

The users of Online CIB are

I.            Bank

II.           NBFI

III.          Ministry of Industry, commerce and finance

IV.         Election commission

V.          Security and exchange commission

VI.         Parliament

VII.        Board of investment

VIII.       National Board of Revenue

Micro-processor

 A microprocessor incorporates  the  functions  of  a computer's central  processing  unit (CPU)  on  a  single integrated circuit (IC), or at most a few integrated circuits. It is a multipurpose, programmable device that accepts digital data as input, processes it according to instructions stored in its memory, and provides results as output. It is an example of sequential digital logic, as it has internal memory. Microprocessors operate on numbers and symbols represented in the binary numeral system.

The advent of low-cost computers on integrated circuits has transformed modern society. General-purpose microprocessors in personal computers are used for computation, text editing, multimedia display, and communication over the Internet. Many more microprocessors are part of embedded systems, providing digital control over myriad objects from appliances to automobiles to cellular phones and industrial process control.

 

Inter bank Reconciliations

 Banks maintain checking with other banks to conduct their business activities. Inter- Bank reconciliation refers to the

balancing and verification of a bank holder's checking account to the periodic bank statements that are produced and sent by the bank to its customer banks.

•    Checking Accounts Statements: Checking account statements are generally produced on a monthly basis. The statement reflects all banking transactions.
•     Verification: After the statement from the bank has been received, a cross check of your records to the statement must take place. All items that appear on the bank statement that you did not know about need to be segregated and the same holds true for items appearing on your records.
•     Bank Balance: To balance your checking account statement to your own records, you must take the above segregated items and add or subtract each of them as the case may be from the other set of books that were not yet affected.

An accounting process used to compare two sets of records to ensure the figures are in agreement and are accurate. Reconciliation is the key process used to determine whether the money leaving an account matches the amount spent, ensuring the two values are balanced at the end of the recording period. Inter company reconciliation is reconciling among the two branches of the same company located in multiple locations. Where as one branch acts as seller to other branch when some product is moved from Branch A to B branch.

Eg:-when Branch A sends some products to Branch B then in this case. Branch A becomes the seller and Branch B becomes the purchaser.

Hence we require to reconcile between these two branches to make sure the right figures appear on the financial statements to the management. 

Intranet

 An intranet is a set of networks, using the Internet Protocol and IP-based tools such as web browsers and file transfer

applications, that is under the control of a single administrative entity. That administrative entity closes the intranet to all but specific, authorized users. Most commonly, an intranet is the internal network of an organization. A large intranet will typically have at least one web server to provide users with organizational information.