banking correspondence tools

7/30/2019 Banking Correspondence tools

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BANKING CORRESPONDENCE TOOLS

Presented by

Group 6

Aditya Mishra

Govardhan Shinde

Manjusha Vijayan

Nagendra KumarShital Bavache

Siddhant Hota

Suranjit Kashyap


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CONTENTS

Memorandum

Circulars

Notices


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WRITINGFOR BUSINESS

Types of communication

Internal : within organization

External: outside organization

Types of business documents

Letter

Memo

Email


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WRITING STYLEOF BUSINESS DOCUMENTS

Plan and organize message

Language

Tone

Formality


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Plan and organize message

Understand subject / situation

Define audience and purpose

Decide how to order content


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Language

Clear: short, simple words

Concise: strong verbs, active voice

Coherent: linking words, list

Correct: grammar/ spelling


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Tone

Polite: respect reader

Positive: stress what can be done

Personal : readers perspective, personal pronouns


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Formality depends on:

Position of writer in relation to reader

Purpose and subject of communication


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MEMORANDUM

Definition

It is a note or communication that aids the memory by

recording events or observations on a topic

A brief communication written for interoffice circulation

A communication that contains directive, advisory or

informative matter


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MEMORANDUM

Characteristics

Internal communication flowing downward, upward orhorizontal

Used to provide a summary of important information andsuggest actions

Generally used to convey routine messages, submittingperiodical reports, communicating changes in organizations,issuing instructions to the staff, confirming a decision taken,asking for explanation or certain special information etc

Also known as interoffice memorandum


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MEMORANDUM

Components

Header: Each office has its preferred style, ideally should

include Date, To, From, cc, bcc, Subject

Purpose: Should be specific, not just state the topic but be

informative and identify the focus

Summary: Should describe the contents of the memo, be a

miniature version of the memo

Discussion: Should have labeled sub sections, background

information should be chronologically arranged

Action: Unless the memo is just to inform, it should clearly

mention the action required-who is to do what by when.


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MEMORANDUM

Popularly Used Layout

Name of the OrganizationInter-Office Memo

Ref:

Date:

To:From:

Cc:

Bcc:

Sub:

1.

2.

Name

Signature


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Language and Style

Give necessary and sufficient information

Explain the cause of the problem or reasons for the changes

being suggested

Your tone should be firm but polite

Do not order

If possible, use the you attitude

Invite feedback or suggestions

Use active verbs Use the pronoun I when talking about your work

Use simple language, do not puff up language

MEMORANDUM


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Advantages of a Memorandum

Brief and simple

It is message in its simplest form

Less scope for ambiguity

It is convenient and saves time

It is inexpensive

Future reference

Establishes accountability

MEMORANDUM


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MEMORANDUM

Example

Secured Links Bank of IndiaInteroffice Memo

Date: 20 May, 2008

Ref: 524/08

To: Branch Manager

From: Purchase OfficerCc: S. K. Sharma Finance Manager

Sub: Purchase of 10 Computers

Thank you for approving the purchase of 10 new computers for the office. This step willhelp in easing the work of different departments.

I am attaching 2 invoices from two different organizations for the same. Matrix is theorganization who have previously been our vendors. We have also got invoice fromSTA Technologies this time.

I will finalize the deal as soon as you approve of the invoice.

R. C. Gupta

Encl: 2 Invoices


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FORMAL LETTERS

Recipent: external

Form: print

Tone: formal

Format Block/ modified block/ intended

Open/ closed/ mixed punctuation

BE CONSISTENT!


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EMAILS

Recipient: internal/ external

Form: electronic

Tone: informal/ formal

Email etiquette


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EMAIL ETIQUETTE

Dos

Create appropriate signature block

Use proper spelling and grammar

Review message for accuracy, readability and tact

before sending


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EMAIL ETIQUETTE

Donts

Forget subject line

Use only UPPER CASE/ LOWER CASE

Attach very large files


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TYPESOF MESSAGES

Good/ neutal news

Bad news

Persuasive


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TYPESOF MESSAGES

Good/ neutral news DIRECT APPROACH

Opening main idea; state purpose

Middle more info/ details

Ending state action you want readers to take; positive,

friendly statement to build goodwill

Examples: accede to request/ adjustment,

acknowledgement

Adjustment letter: response to complaint


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TYPESOF MESSAGES

Bad news INDIRECT APPROACH

Openingbuffer/ show interest, concern

Middle briefly state refusal, explain reason behind

negative response

Ending alternative solution (if possible), positive,friendly statement

Examples: decline invitation, refuse request/ adjustment


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TYPESOF MESSAGES

Persuasive

Opening gain attention

Middleappeal to readers interest

Ending encourage reader to take action, show reader

how to take action

Examples: sales letter, job application


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INTERNATIONAL CORRESPONDENCE

Common words

Avoid humour, jargon, idoms, slang

Consider decision-making style of recipients

culture Forms of date e.g. 1/10/11 = 1 Oct 11 or 10 Jan

11?


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CIRCULARS

A Circular is a formal message, which is sent to a

number of people. They are usually cyclostyled

(duplicated) or printed with a space left for the

addresses which are typed or written in those

spaces. It is different from a memo or notice.


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PURPOSEOF CIRCULARS

Circulars are written in the context of a business to

announce.

The purpose of an existing business or an

individual or an organization.

The establishment of an new business.

The granting or obtaining of an agency.

Change in the address of an establishment.

The admission of a partner.

The retirement or death of a partner. Price reduction

Introduction of a new product.

Introduction or announcement of schemes.


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NOTICE

A notice is usually a straight forward written

communication giving an individual or a group or

the public some information or instruction.

A notice may be issued inside an organisation or

sent outside it.


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PURPOSEOF NOTICES

Announce social events.

Report on matters of interest to staff.

Inform staff of new procedures.

Advertise Posts for internal appointments Remind staff of company procedures.


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POINTSTOREMEMBERWHILEDESIGNING

NOTICES

When designing a notice your must be to ensure

that your notice is seen or acted upon where

necessary. Long rambling paragraphs will not

achieve this aim.

Use different size print for emphasis

Give the notice a clear heading.

Use sub-heading to break up information logically.

Use the paper effectively to display the noticeattractively.

Include the name of the writer at the bottom as well

as the reference and date.


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It must contain essential information.

It is displayed attractively so that it receives attention and

cooperation

When designing a notice make sure you split the words

appropriately. Otherwise you could change the meaning

completely.

In case of legal notice, it is sent by post.


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FINAL REMARKS

Be professional in all business correspondence

Be objective

Maintain dignity

Be sincere


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BE PROFESSIONAL

Be Objective

Your salesperson was so rude and

unapproachable. He was shouting at the top of his

voice and forced me to buy the product.

The salesperson behaved in an inappropriate

manner by raising his voice and using pressure

tactics


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BE PROFESSIONAL

Maintain dignity

Since we really value you as a customer, please

give us another chance to prove we can do a good

job.

As a valued customer, rest assured we will make

every effort to ensure you receive the best service

in the future.


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BE PROFESSIONAL

Be sincere

Your phenomenal contribution to understanding of

tax procedures is remarkable.

Thank you for helping us gain a better

understanding of tax procedures.


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THANK YOU

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