The following are the department of chief importance of a bank
Cash Department: This department is responsible for the receipt and payment of cash. It maintains all records and accounting to this regard. The department conducts audit of cash so as to check any misappropriation or embezzlement of it. It also determines as to how much till cash is required.
Accounts Department: it gathers and keeps the record of all accounting data obtained from head office and branches of the bank. Audit is one of its functions that come in its purview. All the accounting working other department is done under its supervision. The department prepares final accounts of the bank.
Human Resource Department: The legal department of a bank is responsible for legal matter of the bank. Its functions include interpretation of the banking and government laws, and their enforcement. It deals with the court matters. It prepares legal suits against defaulters and acts as a respondent to any law suit filed against the bank
Legal Department: the legal department of a bank is responsible for legal matters of the bank. It functions include interpretation of the banking and government laws, and their enforcement, it deals with he court matters also.
Cash Department: This department is responsible for the receipt and payment of cash. It maintains all records and accounting to this regard. The department conducts audit of cash so as to check any misappropriation or embezzlement of it. It also determines as to how much till cash is required.
Accounts Department: it gathers and keeps the record of all accounting data obtained from head office and branches of the bank. Audit is one of its functions that come in its purview. All the accounting working other department is done under its supervision. The department prepares final accounts of the bank.
Human Resource Department: The legal department of a bank is responsible for legal matter of the bank. Its functions include interpretation of the banking and government laws, and their enforcement. It deals with the court matters. It prepares legal suits against defaulters and acts as a respondent to any law suit filed against the bank
Legal Department: the legal department of a bank is responsible for legal matters of the bank. It functions include interpretation of the banking and government laws, and their enforcement, it deals with he court matters also.