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Analysis on Remitance Servises of Himalayan Bank Limited

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Analysis on Remitance Servises of Himalayan Bank Limited ANALYSIS ON REMITANCE SERVISES OF HIMALAYAN BANK LIMITED An Internship Report Submitted by: Submitted to: Office of the Dean Faculty of Management Submitted in Partial fulfillment of the course requirement for the degree of Bachelors in Business Administration (BBA) 1 Campus Chief Name: Signature: _________ Date: Acknowledgement This report has been prepared as a Partial fulfillment of the course requirement for the degree of Bachelors in Business Administration (BBA).The primary objective of this case study is to analyze the Remittance service of Himalayan Bank Limited situated at Thamel, Kathmandu Nepal. I would not be able to justify my work without acknowledging the staffs who have contributed significantly for the completion of this report. 2 First of all I would like to thank Mr.Ishwor Karki (HR manager) for providing me the opportunity to work in their prestigious organization as an intern. I would like to extend my sincere thanks to all the staff of remittance promotion department especially Ms. Supridi, Mr. Manish Raj Pant, for there help and support. I would also like to thank Mr. Manoj D Shrestha, for providing me the information. At last, I thank once again to the entire member and the organization that have supported me for the completion of my intern. TABLE OF CONTENT ABSTRACT ABBREVIATION CHAPTER I. INTRODUCTION 1.1 Background 1.2 Objectives 1.3 Methodology Organization selection Placement Duration of internship Activities performed 3 1.4 Limitation CHAPTER II. 2.1 Introductions to Banking Sector 2.2 Development of Banking Industry in Nepal 2.3 Introduction to Commercial Banks 2.4 Functions of Commercial Banks 2.5 Introduction of the organization. 2.6 Capital structure 2.7 Equity participation CHAPTER III ABSTRACT This internship report, which is about the “Remittance service of Himalayan Bank Limited”, has been prepared for the partial fulfillment of the degree of Bachelor in business administration (BBA) for the finance and banking, which is one of the specialization course in BBA of Tribhuvan University. This report is divided into five chapters; the first chapter of the report contains the information regarding the study, I.e. its background, objective, methodology, and limitation. 4 ABBREVIATION 5 1. Introduction 1.1 Background The internship program has been designed by Tribhuvan University for the partial fulfillment of the degree of Bachelor in Business Administration (BBA) for the course of Finance and Banking. According to the designed pattern of this program, students need to complete internship for the period of 8TH weeks and prepare the report for the fulfillment of degree. This report has been prepared as per the internship requirement of Tribhuvan University, School of management in the partial fulfillment of BBA degree. As a part of the University curriculum, the internship course carries six credit hours. 6 1.2 Objective of the study The main objective of the study/internship program is to relate the theoretical knowledge with practical one. The study also helps to gain professional experience in the real work environment. Beside this, the other part of the objectives is to develop internee’s skill on communication, decision making, confidence buildup, etc The main objectives of the study are as follow: - To relate our theoretical understandings of management acquired till the period with the real work environment. - To study and analyze working system of the various departments of the bank and come up with the list of strengths and weaknesses. - To understand the major functions along with products and services of commercial banks. - To understand the general banking activities, practices and policies. 1.3 Methodology According to the designed patterned of this program, students need to complete internship for the period of 8th weeks and prepare the report. The report is prepared by using the information that is obtained from different sources i.e. interview, bulletin, newspapers, booklet, websites, and annual report of HBL. 1.3.1 Organization Selection- 1.3.2 Placement 1.3.3 Duration 1.3.4 Activities performed 7 Organization selection Before selecting the organization, I dropped my Curriculum-Vitae at different banks. I had to choose the best alternatives. Considering the suggestion and recommendation from my friends and family, I choose Himalayan Bank Limited to work as an intern. My college also provided me the recommendation letter, which helped me to get a chance to work as an internee in one of the best banks in the country. Placement Regarding the placement, I was first placed at the customer service department. During my stay I learned to familiarize myself to the environment and learn the activities performed by the card center. Later I was placed in the remittance promotion department, and LC department. I stayed at the remittance promotion department for comparatively longer period, so I could collect and study all the possible details about the remittance transfer. Due to lack of the time, I stayed at the Trade Finance department for 2 days only. So I could only study about general procedures of issuance of Letter of Credit. Duration The duration of internship period has been defined for eight weeks by Tribhuvan University. I have completed my internship program which lasted for two months at Himalayan Bank Limited at Thamel Branch. During this period I was placed at administration department, customer service, remittance, Letter of credit department. I was allowed to work for eight weeks starting from July 2nd to September 1st. Activities Performed in the organization Himalayan Bank Limited is one of the major financial intermediaries whose primary function is the transfer of monetary resources from the savers to the users. This section includes the study based on the internship period and the various tasks performed during the stay in bank. The 8 followings are general function of HBL, which I was allowed to learn during my internship period. But these functions are performed by different departments. HBL provides different customer services like opening and closing of accounts, issuing cheque book, account statements, balance certificates, debit and credit cards and access to e- banking. The other functions are Issue of guarantee, Letter of Credit, fund transfer, Bills/Remittance, safety of valuable goods, etc. Promotion of remittance for those who are in abroad for different purposes, Besides above functions, I was also allowed to learn other activities that are performed in different departments like how to open the different accounts, what the general procedures to open these accounts, how to verify the original data, and how to solve the customer queries as well as complaints, how to make bank statements, etc. In the remittance department, I learnt the procedure of collecting remittance, how to identify the actual remittance receiver, sending remittances, etc. 1.4 Limitations of the Study During the preparation of this report, there were many limitations, which are as follows: 1. The study is mainly based on the data provided in the annual report. 2. Therefore, the accuracy of results and conclusions are totally depended on data published in annual report. 3. The study is about HBL only. 4. The study only covers the transaction of remittance. 5. The report is prepared for an academic purpose only. 6. Only eight weeks data are taken into consideration due to data unavailability. 7. The deep analysis and study couldn’t be done due to time and data limitation. 9 CHAPTER II INTRODUCTIO TO THE INDUSTRY Banking Sector Banking sector plays an important role in the economic development of the country. Commercial banks are one of the vital aspects of this sector, which deals in the process of channelising the available resources in the needed sector. It therefore acts as an intermediary between the deficit and surplus group of the financial resources. Financial system contains two components viz. depository and non-depository financial institutions. Commercial banks and finance companies are the examples of the depository 10 institutions where as Employee Provident Fund, Development Banks, Insurance Companies, etc. are the examples of non-depository financial institutions. The study in this report is concerned with the depository financial institutions i.e. Himalayan Bank Ltd. Financial institutions play an important role in the proper functioning of the economy. These institutions act as an intermediary between the individuals who lend and borrow financial instruments. These institutions make the flow of investment easier. Development of Banking Industry in Nepal Like other countries goldsmiths, merchants and moneylenders were the ancient bankers of Nepal. Tejarath Adda established during the tenure of the then Prime Minister Ranoddip Singh (1933 B.S) was the first step towards the institutional development of banking in Nepal. Tejarath Adda did not collect deposits from the public but gave loans to employees and public against the bullion. Banking in modern sense started with the inception of Nepal bank limited (NBL) on 1994/7/30 B.S. Nepal bank limited had a Herculean responsibility of attracting people toward banking sector from pre-dominant moneylenders net and of expanding banking services. Being a commercial bank, it was natural that NBL paid more attention to profit generating business and preferred opening branches at urban centers. Government however had onus of stretching banking services to the nook and corner of the country and also managing financial system in a proper way. Thus, Nepal Rastra Bank (NRB) was set up on B.S. 2013.01.14 as a central bank under Nepal Rastra Bank act 2012 B.S. Since then, it has been functioning as the government's bank and has contributed to the growth of financial sector. The major challenge before NRB today is to ensure the robust health of financial institutions. Accordingly, NRB has been trying to change them and has introduced a host of prudential measures to safeguard the interest of the public.
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