CHAPTER-ONE

INTRODUCTION

Introduction

This study is conducted for the partial fulfillment of the requirements for the

internship project in the fourth year of Bachelor of Business Administration (BBA)

program. The fourth year student of BBA program of Apex College, affiliated to

Pokhara University are required to undergo an internship project in an organization

during the 7th semester of the program as a part of the regular course work. This

internship project study report counts for 3 credits hours’ assignment of the BBA

program.

Details of Internship

1. Name of the intern:- Mr. Sanij Shrestha

2. Level:- BBA 8th Semester

3. Name of the Host Organization: Nabil Bank Limited

4. Address: sinamangal Branch, Phone No. 01-4110850/851

5. Working Duration: eight weeks (from 18th January 2011 to 21st March 2011)

6. Name of the supervisor:

- Mrs.Gyatri Giri.

Introduction of the organization.

1.1 Brief Profile of NABIL BANK LTD

The 1st Joint Venture Bank in Nepal with 26 Years of History

Nabil Bank, the 1st foreign joint venture Bank set up in the nation with an

objective to introduce modern banking services, commenced its operations on 12 th July

1984, with Rs. 28 million capital and around 50 staff. Dubai Bank Limited, Dubai was

the foreign joint venture partner who extended Nabil a technical service agreement in the

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initial period with the name Nepal Arab Bank Ltd. The Bank, through its quality

customer service and innovative products, has today attained a distinguished identity and

recognition in the banking industry of Nepal.

Today Nabil stands in a position to claim that it is the "Bank of 1 st Choice" to all

its stakeholders. It is the large bank in terms of the network and number of branches

amongst the commercial banks with a wide network of ATMs and offerings including a

range of diversified cards and service products. In this span of 26 years of banking

operation Nabil has already distributed rich cash dividends, spectacular returns on asset

and equity even during the most trying times. The Bank provides a complete range of

consumer, retail, SME and corporate banking services through its offices spread across

the nation. Nabil is the sole banker to a multitude of large corporates, international aid

agencies, NGOs and embassies. On the technological front, the Bank has earned a

reputation in providing an array of card products and Internet /Telebanking facilities

besides ATMs and Any Branch Banking Service.

1.2 Mission and Focus of Nabil Bank

Mission

“OUR MISSION STATEMENT TO BE THE BANK OF 1 st CHOICE IS A

CLEAR REFLECTION THAT OUR SECRET OF SUCCESS IS THE STRONG

MUTUALLY BENEFICIAL PARTNERSHIPS BUILT WITH ALL OUR

STAKEHOLDERS.”

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Focus

Nabil was incorporated with the objective of extending international standard

modern banking services to various sectors of the society. Pursuing its objective, Nabil

provides a full range of commercial banking services through its points of representation

across the country and reputed correspondent banks across the globe. Nabil, as a pioneer

in introducing many innovative products and marketing concepts in the domestic banking

sector, represents a milestone in the banking history of Nepal as it started an era of

modern banking with customer satisfaction measured as a focal objective while doing

business.

1.3 Core philosophy of Nabil bank

The statement 'Your Bank @ Your Service' that the Bank holds on firmly is a

resemblance that the Bank's stakeholders are at the core of everything it does. As for the

culture embraced by the entire Nabil team, a set of Values, referred to as 'C.R.I.S.P.' in

short, represents the fact that the bank uninterruptedly strives to be Customer Focused,

Result Oriented, Innovative, Synergistic and Professional. By living these Values,

individually as professionals and collectively as a Team, Nabil Bank is committed to

surge ahead to continue to be the Bank of 1st Choice in Nepal.

Operations of the bank including day-to-day operations and risk management are

managed by highly qualified and experienced management team. Bank is fully equipped

with modern technology which includes ATMs, credit cards, state-of-art, world-

renowned software from Infosys Technologies System, Internet banking system and

Telebanking system.

Nabil Bank is delighted to continue to be ‘Your Bank @ Your Service’

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1.4 Capital Structure and Ownership

Table 1.1: Capital structure of Nabil Bank Ltd

Share Capital Amount (RS)

1. Authorized Capital 1 ,600,000,000

2. Issued Capital 9 65,747,000

3. Paid Up Capital 9 65,747,000

Table 1.2: Ownership structure of Nabil Bank Ltd

NIDC 6.15%

Nepal stock exchange 0.33%

Rastriya bema sansthan 9.67%

NB(Int’l) ltd 50%

Other promoters 3.85%

General public 30%

Total 100%

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Figure 1.1: Ownership structure of Nabil Bank Ltd

1.5 Nabil Bank’s Products and Services

As a commercial bank NABIL Bank provides full-fledged reliable commercial

bank services to general customers. The bank is continually introducing innovative

products and services to meet and exceed the customer’s expectations. Under a sound

management with the new technology in the global banking sector, the bank assures

following facilities and services to its valued customers.

1.5.1 Loan products

The bank has launched “Business Banking” for new business or willing to expand

their existing ones, to meet with customers expectations and help them realize their

financial aspirations. Corporate credit facilities range from local to regional, national and

multi-national corporations and business houses Relationship managers are committed,

accessible and responsive to all business needs with diverse and customized offers. Nabil

is not only one of the best in terms of service quality but also equally competitive in

pricing.

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Nabil have the following loan products:

1. Working Capital Loan

Overdraft or Short term loans to finance day-to-day business activities. Basically, this

loan will help customers to build up their inventory and receivables to a desired level,

against which the loan will be disbursed.

2. Fixed Capital Loan

If customers are looking to finance their projects or acquire fixed assets, Nabil is

always open to finance their requirements. Generally, this is a long term loan for

acquiring or purchasing machinery, equipment, land and building. The tenure of

repayment is cash flow based.

3. Import Loan

For financing international and local trade transactions through letter of credit,

customers may get the finance to import their goods in the form of trust receipt or time

loan, bank's acceptance etc. Nabil facilitates customers to import using the extensive

banking network around the globe.

4. Bills Discounting facility Under Suppliers Credit

Nabil also offers discounting facilities to suppliers against the import usance bills.

5. Export Loan

Nabil has different products to finance on funding requirement for completion of

various stages of export processes such as pre-shipment loan, post-export loan (post-

shipment loan), negotiation / documentary bill purchase etc. Such credit facility can be

availed in foreign currency as well as local currency.

6. Hire Purchase

Nabil can finance the purchase of vehicles, exclusively used for commercial purpose.

7. Project Finance

For any feasible project, Nabil is committed to take it up for funding from fixed

capital to working capital loan - right from the establishment stage which may include

financial services like letter of credit and guarantee.

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8. Consortium / Syndication Loan

With the expertise in diverse field of business Nabil is capable of arranging

consortium finance / loan syndications for large projects.

9. Mortgage Loan

Customers are always welcomed to step into the bank for loans to be used for any

purpose by mortgaging their land and building.

1.5.2 Personal lending

Nabil Bank offers loan not only to the corporate houses but also to the individual

consumers. Products for personal lending includes consumer loans likes Auto loan, home

loan, education loans and others based on consumer’s need and demand.

The followings are the major products for personal lending.

1. Housing Finance

Nabil is committed to provide finance for purchase or construction of land and

house so that customers have a shelter of their own dream.

2. Auto Finance

Nabil is committed to provide finance for purchase of vehicles - for personal or

commercial purpose. Step into one of the branches of Nabil Bank and return back

home in the new car.

3. Nabil Property

With Nabil Property, the customers can mortgage their property and borrow the

funds for any purpose.

4. Personal finance

With personal finance scheme, the customers will be able to borrow money to

purchase household items.

5. Education Loan

Nabil offers its education loan product specially designed for students aspiring to

pursue further studies abroad. If students plan to apply for abroad studies and need

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financial assistance from Nabil, it is always at the service to meet expectations and

help to realize academic goals.

1.5.3 Deposit Products

From accounts like Saving, Current, Call and Fixed to special deposit accounts can be

opened at any Nabil Branch, both in local currency and foreign currency as per

requirement, upon completion of simple documentary requirements. The bank has also

launched “Privilege Banking” to ensure the best of the banking services to its valued

customers through highly efficient and specialized team members.

The followings are the deposit based products:

1. Current accounts

In current accounts, customers may withdraw or deposit any amount of cash. Customers

just need to make sure to maintain the minimum balance in the account as set by the bank to

avoid ledger fees. Customers will be provided with a cheque book containing as many leaves

as required by customers depending on their business transactions. Individuals, profit-making

business houses, NGOs/INGOs and others can open current accounts. This is a non-interest

bearing account. Normally statements are provided to customers on a periodic basis.

Customers are encouraged to use NabilNet (online banking system) to download statements

and view transactions as through the internet. Nabil opens current accounts in Nepali Rupee

and a range of other convertible foreign currencies in all the foreign currencies listed by Nepal

Rastra Bank.

2. Call deposit

Call deposit accounts are those accounts where customers park high-volume short term

deposits. These accounts pay interest to account holders based on the rate negotiated with the

bank. Cheque books will be provided to the call account holders to withdraw cash. Nabil opens

call deposit accounts in Nepali Rupee and various other convertible foreign currencies.

3. Time deposit

Time deposit accounts are meant for those individuals and corporate houses, who would

like to earn interest on the fund not in use otherwise for a period of time. Time deposit

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accounts are opened for a fixed period of time ranging from 2 weeks to more than a year.

These accounts pay interest to account holders at the rates agreed upon at the time of opening

time deposits. The interest rate and initial deposit will be fixed for the period as agreed with the

bank. The prevailing rate on time deposit is 10.5% p.a.

4. Normal Saving Deposits

Savings deposit accounts are meant for those individuals who have a habit of saving

money from their earnings so that they can use it when they require. The bank allows holders

to withdraw the money as and when they need leaving the minimum balance to avoid ledger

fees. Interest rates in savings accounts are subject to change depending on the market

conditions. Bank will provide statements of transactions on a periodic basis. Nabil open normal

savings deposit accounts at 3% interest rate in Nepali Rupee and various other convertible

foreign currencies.

5. Nabil Lok Bachat

Nabil Lok Bachat is a very flexible savings deposit product where customers can open

account at zero minimum balance requirement and still earn interest on the monthly minimum

balance above Rs 10,000 @ 2%. Under the scheme, the customers are required to avail a Visa

Electron Debit Card at a discounted rate of Rs 200 while opening the account. The Visa

Electron Debit Card will give customers access to their account through the large network of

ATMs for withdrawals 24 hours a day. If required, Nabil also provide Cheque book at a very

nominal fee.

6. Nabil Bachat

Nabil Bachat is the premium savings deposit product. The minimum balance requirement

for this deposit is NPR. 50,000 and the interest rate is 6% p.a. for deposits exceeding NPR.

50,000. The product has the following features:

Debit Card (Visa Electron): Issuance free of charge

Anywhere branch banking service (ABBS): Free of charge

Account Statement: Free of charge

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Stop Payment: Free of charge

Good for Payment: Free of charge

NabilNet (Internet Banking System): Free of charge

Balance Certificate: Free of charge

Traveler’s cheque: Free of issuance and purchase charge

7. Nabil Edu Save

Nabil Edu save is a saving account meant for the students. This product is an

amalgamation of a Deposit Product and a Loan Product. Students can open this account with a

minimum balance of just NPR 500 and enjoy a host of exclusive facilities, better interest rate

@ 3% p.a. on daily balance, instant access on online banking services, privileged education

loans, free cheque books issuance, special discounts on TCs, Bank Drafts, Swift Transfer and

much more.

8. Nabil Bal Bachat

The product has been designed to promote the habit of savings among the parents for a

secured future of their children. The amount can be used later for various purposes like the

educational expenses, investment in fixed assets or for the marriage ceremonies of the children

later in future. This account is equally useful to inculcate the banking concept amongst the

children from their early ages. ‘Nabil Bal Bachat’ is aimed at providing a better future for the

children populace of today.

9. Nabil Jestha Bachat

Nabil Jestha Bachat is a special savings scheme for the Senior Citizens who belong to the

age group of 50 years and above. The scheme offers an interest rate of 5% p.a. on daily

balance. Under this scheme, interest is paid every month which helps the senior citizens to

manage their monthly expenses more conveniently. The scheme offers the below features

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which has been introduced for the benefit of the senior citizens.

Minimum balance requirement: NPR 500

Interest rates: 5% p.a. daily balance with monthly interest payment

Issuance of ATM Card with a charge of NPR. 200

Free Issuance of Cheque Book

50% discount on the Issuance of Traveler’s cheque, Swift Transfer

25% discount on locker charges (depends upon the availability of the locker)

10. Nabil Jestha Muddhati

Nabil Jestha Muddhati is a special Fixed Deposit scheme for the Senior Citizens

who belong to the age group of 50 years and above. The scheme offers an interest rate of

7.5% p.a. Under this scheme the interest is paid on a monthly basis which helps the

senior citizens to manage their monthly expenses more conveniently and thus makes

their lives more comfortable. The scheme offers the below features which has been

introduced for the benefit of the senior citizens.

Minimum Balance: Rs. 500,000

Interest Rate: 7.5% per annum payable on a monthly basis

Tenure: 1 year

Pre-mature liquidation is not allowed

Option of 90% OD loan limit with the Bank’s prevailing interest rate

Compulsory opening of Nabil Jestha Bachat account (to be used as interest

nominated account)

11. Retirement Fund

Nabil Bank Limited introduced Retirement Fund with the approval of Government

of Nepal, Department of Inland Revenue and Nepal Rastra Bank, has been managing and

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operating Retirement Fund of its own employees and the employees of Nabil bank's

corporate customers.

12. Provident Fund

If customers are unable to use the retirement fund schemes, Nabil have another

savings account called "Provident Fund" account. As the name suggests, this account

is used for keeping provident funds of employees of the corporate accounts. Nabil

open provident fund accounts in the individual name and also provide interest on that.

Individual provident fund accounts are operated with joint signatures both by the

account holder and the designated person from his/her office.

13. Miss players Nari Bachat

Miss Players Nabil Nari Bachat is a deposit product for the women populace and

the same has been developed under a co-branding arrangement with Miss Players, a

premium clothing brand for women of Surya Nepal Pvt. Ltd. (SNPL). The account

holders are offered with a customized co-branded Visa Electron Debit Card and with

this Nabil is the first Bank ever to have crafted a special Debit card for women. This

product is suitable for the women from various walks of life. The account holders are

also entitled to get special discounts and offers from various outlets, shops,

restaurants, hotels within the valley.

Features of this product:

• Minimum balance requirement: NPR 500

• Interest rates: 5% p.a. payable on monthly minimum balance

• Issuance of ATM Card with a charge of NPR. 200

• Free Issuance of Cheque Book

• 25% discount on the Issuance of Traveler’s Cheque, Swift Transfer and Demand

Draft

• Facility of Locker (preference given subject to availability)

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• The account holders will be entitled to get a Gift voucher of NPR 500 on the

opening the account from SNPL.

1.5.4 Trade Finance

Nabil Bank offers the range of trade services like Import/Export documentary

Credits (LC), all types of guarantees team in the nation. Worldwide correspondent

relationship enables Nabil to establish import Letters of Credit in any corner of the world

and have it confirmed by reputed international banks at competitive rates. The followings

are the major services provided by Nabil bank:

Import LC

Export LC

Guarantee

Forward contract

Bid bond

Performance bond

Counter guarantee

Advance payment guarantee

Shipping indemnity

1.5.5 Remittance/Fund Transfers

Nabil bank correspondent with its extensive network has been handling both

outward and inward remittances to and from any part of the globe using SWIFT (Society

for worldwide Inter Bank Financial Telecommunication), Telex, Traveler’s Cheque,

Demand Drafts etc. Through SWIFT transfer mechanism, Nabil bank can transfer/receive

fund to/from virtually anywhere in the world.

1. SWIFT Transfer

Through the SWIFT transfer mechanism, Nabil can receive the funds for customer’s account

from virtually any bank in the world. SWIFT is a reliable communication network speeding

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up fund transfer and other financial messages. Customers do not need to have an account with

Nabil Bank for fund transfers through SWIFT.

2. Western Union

Through Western Union, the customers can receive the fund through thousands and

thousands of agents located worldwide. It is the fastest and premium fund transfer system.

Once the fund is transferred at the sending end and the recipient knows MTCN (Money

Transfer Control Number), sender's name, amount etc, he or she will obtain the fund at any of

Nabil's Branches within the shortest possible time by filling up a form and submitting an

identity. Customers do not need to have an account with Nabil Bank.

3. E-Remittance(Qatar, Doha)

Any of the Nepali workers in Qatar can send the fund to their recipient / beneficiary through

E-remittance. This product has been established in a tie-up with Doha Bank, Qatar to

facilitate transfer of workers' funds into the country.

4. Traveler's Check

Customers can purchase or sell traveler's cheques at Nabil Bank. Instead of carrying cash, a

lot of people prefer to carry traveler's cheques for safety reason, while they travel. American

Express Traveler's Cheques are available for sale.

5. Bank Draft

Nabil Bank can draw drafts on a number of its correspondent banks located all over the

world. Basically, the draft can be drawn on following two arrangements:

Indian Rupee Draft Arrangement

Foreign Currency Draft Arrangement

6. Mail Transfer

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When there is no SWIFT transfer or draft arrangement, customers may go for for mail

transfer. As the name suggests, mail transfer is slow compared to other ways of fund transfer.

7. Manager's Check

It is a cheque drawn by Nabil bank on itself, especially used for payments made by Nabil

Bank. Beneficiary can send the cheque on collection or through clearing or can deposit it in

his or her account with Nabil Bank itself

1.5.6 Cards and ATMs

Nabil Bank has following varities of card services.

1. Credit cards

Nabil bank was the first bank to introduce Credit Cards issuance and launched automated

acceptance of MasterCard and Visa Cards through electronic terminals. It is also the first

bank in Nepal to issue international cards accepted through out the globe.

Issued in Visa & Master Card brand –NPR and USD

Issued to Account & Non account holder

Used for cash withdrawal & purchase at EFTPOS

Electronic & Manual environment use

Maximum cash withdrawal limits 50% of limit, interest @ 2.25% p.a.

NPR card -Usable in Nepal & India

USD card –Usable globally except in Nepal & India

year validity, renewed every year

Issuance Rs. 750+Joining Rs. 750; Renewal Rs.750/ year

Issuance USD 50, Renewal USD 25/year

2. Debit Cards

Nabil bank offers its valued customer with the round the clock and 365 days a year ATM

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cards service for dispensing cash against the balance of their accounts. It ensures prompt

service and relieves the customer from the hazard of queuing in the bank counters. The card

is highly economical to obtain and use.

Issued in Visa brand –Visa Electron

Linked to an account

Used for cash withdrawal & purchase of merchandise/services

Electronic use only

Maximum cash withdrawal at 5 times a day and Rs.15,000 per withdrawal

Usable in Nepal & India

Two years validity, renewed every year

Issuance Rs. 200, renewal Rs.200

3. Nabil Prepaid/ Nabil kool cash card

It is a prepaid card that can be availed by any person without having to open an account.

Nabil Prepaid is issued in international brand – Visa Electron as a numbered card and can be

obtained instantly from any branch of Nabil Bank.

Issued in Visa brand –NPR and Master Card -USD

Pre-deposit into card account with the bank

Used for cash withdrawal & purchase of merchandise/services

Electronic environment use only for NPR prepaid card and both electronic & manual

use for USD prepaid card

Maximum cash withdrawal limit is 50% of given limit

1.5.7 Other Services

1. Anywhere Branch Banking System (ABBS)

Nabil Bank uses state-of-art technology, software and hardware to provide the best

services to its customers. All the branches are connected through vsat link or Radio link,

so that the customers can access their account from any of the branches located

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throughout the territory. All the branches of the bank serve customers for deposit of cash

and cheques, withdrawal of cash, balance enquiry, statement printing, balance certificate

etc.

2. E-banking

In keeping commitment to be the "Bank of 1st Choice" Nabil Bank is constantly moving

towards enhancing customer services by providing enhanced products and services.

Along the same line, provide customers with NabilNet, Internet banking system (online

banking), NabilTele (telephone banking system).Through a computer connected to the

Internet, customer can log on to the NabilNet site and do various banking transactions

from the comfort of house or office. The features of NabilNet are as follows:

Fund Transfer: Customer can transfer funds from their account to any other

account in Nabil Bank. All Nabil branches are connected to the centralized

database through vsat link and use state-of-art, world-renowned software.

Statement: Customer can view, download or print statement at their convenience.

Balance Inquiry: Customer can view balance at any time.

Cheque Status: Customer can enquire/confirm which of the issued cheque are

paid by the bank and which are not.

Access: Customer can access all accounts under their customer id for balance

enquiry, fund transfer, statement etc.

Email: Customer can send emails to relationship manager for banking services or

follow-ups in a secure environment.

1.6 Objectives of the Report

The major objectives of this project are to learn about the banking in the real

world. Real world is quite different from the world of book. What studied in the books is

difficult to implement in the real world until a correct supervision and observation of the

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real world scenario is done. This project mainly helped to observe all the real world

aspects of banking and providing financial services.

The primary objective of this report is to fulfill the partial requirement of BBA

program at Pokhara University. Besides that, general and specific objectives are

mentioned below:

General objectives:

To place emphasis on the basic principles and concepts of banking

To know how theories are implemented practically in day to day operation

To develop managerial, interpersonal and communication skills and techniques

applicable in future careers

To develop attitudes conducive to effective interpersonal relationships

To gain practical knowledge on how commercial banks operates

To increase confidence level, competitiveness and the sense of responsibility

To experience the real work environment

To develop skills for problem solving and tackle the real world problems

To test the ground before stepping in the industry

To observe the organizational culture and try to adjust in professional

environment

Specific objectives

To get acquainted with the performance of Nabil bank & its efficiency

To be familiar with CSD and its scope in the commercial banks

To analyze the importance of CSD and its impact on overall banking

To understand different activities performed in CSD

To know about outward cheques clearing process

1.7 Methodology

1.7.1 Organization selection

Selection of organization for internship program is always a crucial task. As

internship program provides an opportunity to learn about the organization and get better

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understanding and a more balanced view of organization it must be selected in personal

interest and related field of specialization.

At the present scenario, among different fields related with the management and

finance one of the major field is the banking sector. Being the student of BBA

specialization in finance, the internee has selected the commercial bank, more

specifically Nabil Bank Ltd as destination, because banks are the most prominent user of

management and finance.

Nabil Bank is Nepal’s leading bank amongst commercial bank. It follows the

standard business procedure and contains good organizational culture. At the same time

the bank has lots of respect for banking and its applications. Nabil bank provides the

environment that is necessary for any interning student. So it pleasure with making the

decision about internship at Nabil Bank.

1.7.2 Placement

Nabil bank Corporate Office assigned internee to conduct internship at

Sinamangal Branch where internee got an opportunity to involve in Customer Service

Department (CSD) as well as Outward Clearing. During 8 weeks period, internee got full

support and cooperation from all the staff. The working environment was very friendly

and helpful. The period of internship was completed in the following departments:

Table 1.3: Placement during internship

Departments Weeks

Customer service 7

Outward Clearing 1

1.7.3 Duration of internship

PU has prescribed minimum six credit hours for the internship. It is equivalent to

eight weeks i.e. two months. The report is based on eight weeks period only.

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Duration of Internship is eight weeks started from 18 th January to 21th March,

2011.

Report the CSD in charge about the activities learned and performed in the

bank.

The bank has closely monitored attendance, performance and conduct at work

place.

Fig:1.2 Duration of Internship

Weeks 1st 2nd 3rd 4th 5th 6th 7th 8th

Observation

Data

Collection

Intern

Analysis

1.8 Importance of internship

BBA constitutes not only the theoretical knowledge but also practical

application of such knowledge. In order to gain the real work experience one has to

complete the internship period of 8 weeks. During this period, interns are exposed to real

working scenario. Some of the major importances of internship are as follows:

Gain real work experience: Students are confined to class room for learning but

internship provides opportunity to observe the real working scenario. It also opens

the door for intern to be involved in providing banking services and dealing with

customers.

Familiar with organizational culture: During internship, intern learns to

communicate and develop inter-personal relationship with the professional staffs

of the bank. It enhances one’s ability to communicate and adapt in such diverse

and dynamic working environment. Hence, one learns and become familiar with

organizational culture and understands the need of discipline, punctuality,

regularity, enthusiasm, concentration and positive attitude in profession.

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Implementation of theoretical knowledge: Internship offers education

enrichment as one applies the knowledge gained in classes. It also offers

additional learning and training experiences. Interns are able to apply theoretical

knowledge in the real work field.

Career planning: The major areas of BBA are banking, finance and marketing.

Interns are placed in their respective areas for internship, so it would facilitate

them in career planning. Interns get an opportunity to test the ground before

entering into the market. It helps them to set their career goals. All the knowledge

and experience that interns learned during the internship period would be

definitely helpful for in future career.

1.9 Limitations of the internship

Although the best effort is used to make the study effective, trustworthy and

error free but the study is bounded by some limitations. These are listed below.

Due to the restriction of time, the study could not be extended for detailed

study.

This report is concerned only with Sinamangal branch of Nabil Bank

hence it can not be generalized to whole company

Most of the information are gathered through personal experience and

observation, so overall information may not be presented

Some of the valuable information is not provided to internee also as per

the bank’s secrecy policy

Job rotation in different departments was not possible as per the need.

ORGANIZATION CHART OF THE NABIL BANK LIMITED

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Baard of Directors

(Chairman)

CEO (Chief Executive Officer)

Internal Audit Inspection

Assets Liability Management Committee

(ALCO)

Deputy General Manager (DGM)

(Marketing)

Assistant General Manager (AGM)

(Operation)

Deputy General Manager

(DGM)

(Credit)

AGM (Assistant General

Manager) Planning

and Developme

nt

Company

Secretary

Shares Department

Audit Committee

Figure: 1.3 organization structure of the Everest Bank Limited

CHAPTER-TWO

Internship Experience

Activities performed

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Various activities were performed during internship program. Every employee in

the bank assisted internee to know about the services provided by the bank to its valued

customers. As the internee spent most of the time in CSD, the main focus was customer

service. Besides this, the intern was also placed on outward clearing. Some of the

activities performed during internship under different department are as follows:

2.1 CUSTOMER SERVICE DEPARTMENT

Customer service is the front desk of any organization. It is the place where

customers make first contact with the bank. The image and reputation of the bank depend

upon the effective functioning of this department. Customer service is the process by

which an organization delivers its products and services to the customers. The staff

deployed in CSD should have fair knowledge of banking so that they may be able to

answer any questions raised by the customers. Attracting the potential customers and

retaining the existing customers are intended by CSD. Hence, all the activities of CSD are

directed towards customer satisfaction.

Activities performed in CSD

2.1.1 Dealing with customers

The major function of CSD is customer reception and attending to their needs.

The internee assisted in providing the information regarding the bank and its various

products and services. The enquiry about bank rules, problems of ATM cards,

procedures of opening a new account, fund transfers were the major queries to be

answered. In due course of eight weeks, internee is able to respond such queries.

Apart from face to face interaction, the internee has to receive incoming calls and

respond to different queries of the customers and also maintaining good

communication and coordination with them. The regular follow up and contacts with

customer is essential to flow important messages such as pending documents yet to be

provided, delivery of cheque books and ATM cards.

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2.1.2 Account opening

Account opening is the initial step in deposit collection. It is one of the crucial

functions of the commercial bank. The bank opens new account in two different

ways:

Personal account:

Any individual who is capable to enter into the contract can open an account in

the bank. He/she can open the account in all convertible currencies directed by NRB.

Two or more individuals can also open a joint account in their names.

The basic requirement of opening a personal account:

1. The account holder must be present in business desk in the time of opening an

account

2. Fill up the prescribed application form with the agreement of terms and conditions

associated with the scheme

3. Two or more signatures on specimen card

4. Original copy of identification document i.e. citizenship or passport and photocopy

to be attached with the application form

5. One passport size photograph of account holder

6. Mandate form, No objection letter and citizenship/passport of authorized signatories

if account is operated other than account holder

7. Nominee form and citizenship of the nominee

Corporate account:

Any registered firms, organizations and corporations can open corporate account

in the bank for smooth business transactions. Corporate account can be opened in all

the convertible currencies directed by NRB. The following firms can open the

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account by providing the prescribed documents. All the original documents should be

presented for verification.

Proprietorship firm

Registration certificate

PAN certificate

Citizenship/passport

Partnership firm

Registration certificate

PAN certificate

Citizenship/passport of all partners

Registered Partnership Deed

Company account (private/public limited)

Registration certificate

PAN certificate

Citizenship/passport of authorized signatories

Memorandum of association

Articles of association

Board resolution

Cover letter with stamp of the company

Location map

Non-profit making organization (Clubs/Associations/Societies)

Registration certificate

PAN certificate if applicable

Citizenship/passport of authorized signatories

Constitutions and By-laws

Processing of opening a new account

The following procedure is followed while opening a new account (Saving and Current).

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1. Provide the new account opening form to the customers (Individual or

Corporate) along with cheque requisition and ATM card requisition (if

necessary).

2. After the form has been filled up by the customer, review the form so that all the

required information is provided.

3. Check all the essential documents and verify them with original one.

4. Assign the account number to the customer and fill up the KYC form.

5. The customer is requested to fill the deposit slip to deposit the minimum

balance of concerned scheme and charges for cheque book and ATM card if

applicable.

6. The details of customer are entered into the bank software to get customer id

and account id.

7. The CSD in charge verify the account and Branch Manager approve it.

8. If all the information and documents are presented, then authorized signatures

and stamp are scanned and loaded in the bank software.

9. Both CSD in charge and Branch manager verify the signature of the customer.

10. Finally, the form is filed in the respective file in sequential order of account

number.

The procedure of opening fixed account (time deposit) is as follows:

1. The customer is requested to fill the application for time deposit specifying

account holder’s name, amount, maturity period and other details.

2. If the customer does not have any account in the bank, then he/she should open

saving account initially in order to credit the interest of time deposit.

3. Time deposit application is verified by CSD in charge.

4. Customer is requested to deposit either cash or cheque in his/her saving account.

5. Fixed Deposit Receipt (FDR) or time deposit certificate is issued to the

customer as the proof of fixed account after accepting the deposit.

2.1.3 Account closing

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It is another task performed in CSD. Customers close their accounts due to

bank’s inefficiency, delay in providing services, rise in the numerous competitors in that

locality and so on. All the requests for closure of accounts must be made in writing and

duly signed by the customer. All unused cheque leaves, ATM card, locker key etc. must

be submitted to the bank.

Procedures to close an account

The following procedure is pursued while closing an account:

1. On the receipt of the request to close an account, the staff should politely ask the

customer about the reason for closing the account.

2. The staff must try to convince not to close the account by explaining the benefits

of the account and charges taken for the closure of the account.

3. Before processing for account closure, the customer should fill up the “Account

Closing Request/Advice” available in the CSD on which authentication of

signature of the account holder is required.

4. If it is a savings account, accrued interest should be credited to the customer

account manually before closing the account and all the charges will be

recovered. Ensure that no balance is left in the customer’s account.

5. Pay the due amount to customer or transfer to other accounts nominated by

him/her.

6. Finally, the account opening documents will be duly cancelled with a stamp

“Account Closed” and all the documents are filed in the account closing file.

7. The returned cheques should be punched making them void and the returned

ATM card should be destroyed and blocked.

2.1.4 Distribution activities

Another activities performed in CSD are distribution of cheque books, ATM

card and internet banking password to the customers. These services are available

upon the request of account holder. The customers are informed once the requested

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cheque books are printed and ATM cards and internet banking passwords are

received.

Distribution of cheques books:

The bank generally issue cheque book to the customer on the following conditions:

When new account is opened

When existing account holder uses all the cheque leaves and requests for new

cheque book

Cheque book is issued to current and saving account holders. When new account is

opened and approved in the system, the account-opening department will print cheque

leaves. Cheque book will be issued only against a requisition slip duly signed by the

account holder. While delivering cheque book the department must ensure that the

cheque is given to the authorized person only. Therefore the department must verify

signature of the cheque book collector in requisition slip certified by the respective

account holder and on delivery an acknowledgement thereof should be obtained from

him/her. Cheque requisition register is maintained in the following format:

Table 1.4: Exhibit of cheque requisition register

Date Account Name Account No. Signature of A/c holder or agent

When a cheque book requisition is received by the department, authenticity of the

request is required to be verified prior to printing the cheque. There must be a cheque

requisition slip in each cheque book attached along with cheque leaf before last 5 cheque

leaves so that the bank will receive requisition slip on time. Once cheques are printed the

requisition will be noted accordingly to avoid double printing. While printing the cheque,

customers account number and name must be printed on every cheque leaf of cheque

book. CSD maintains a cheque book issuance register to record below stated information

in the format therein:

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Table 1.5 Exhibit of cheque issuance register

A/c

Number

A/c

Name

Cheque

From

Cheque

To

Print

Date

Received

Date

Initial

of staff

Receiver’s

signature

Exhibit of cheque books printed but not collected is made on monthly basis in order

to monitor and ensure that no cheque books are held by bank for longer period. If the

printed cheque books are not collected by the customers for a quarter despite branch

efforts such cheque books are processed for destruction. Charges, as fines should be

levied.

Distribution of ATM cards

Basically, ATM cards are mandatory for saving account holders. While opening an

account, the customers are provided a form for debit card requisition. Once an account is

approved in the system, the a/c holder is eligible to receive an ATM card upon the

payment of Rs 200 as charge. The card remains valid for two years. The ATM of Nabil

bank is linked with visa electron, master card and SCT.

The card is requested to card division and the card is generally delivered at the third

day of the request through courier. The card is collected on daily basis and it is kept on

ascending order of a/c number so that it would be easier to retrieve whenever the

customer approaches to obtain the card. The pin code is kept in CSD in charge’s room for

safety purpose. The card register is maintained in the format given below:

Table 1.6. Exhibit of ATM card issuance

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Received

Date

Card

Name

A/c

Number

Card

Number

Initial of

Staff

Delivery

Date

Receiver’s

signature

The process of distributing ATM cards to the customers is as follows:

For collecting the ATM card the a/c holder must be present in the business

desk with a/c number

In the presence of a/c holder, ATM card is taken out from the envelope and

card number is written in the ATM card register

The a/c holder must sign in the register. Then the signature is verified with the

signature of card requisition provided during the time of a/c opening

After verifying the signature, ATM card along with pin code is handed over to

the account holder and inform about the activation of the card

Distribution of internet banking password

Internet Banking facility is provided free of cost to all the a/c holders. In order to

activate this service, the account holder has to fill up the form with authorized

signature. CSD will verify the signature and send the request to the IT department at

head office. Once the user id and password is received it is distributed to the

concerned a/c holder after the verifying the signature. The account holder can use

internet banking service for balance inquiry, statement, fund transfer etc. The details

are recorded in the following format:

Table 1.7 Internet Banking Password

Received

Date

A/c Number A/c Name Initial of

Staff

Delivery

Date

Receiver’s

signature

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2.1.5 Account statement Printing

Account holders will be provided with statement of account on regular interval.

Generally statement of current account is taken out on monthly basis and saving account

on quarterly basis. However upon the customer request statement can be generated any

time after taking charge from the customer. Statement of accounts will be dispatched as

per the instruction of the account holders. Customers with “collect” instruction will

collect statement on their own from the bank. Those statements are printed on demands.

The department will maintain a register to keep record of collection of statement by

the customer. Statement should be provided to the account holder or his/her authorized

representative only. Upon delivery of statement customers or agents signatures will be

obtained as acknowledgement. The account holder or agent should be identified before

handing over statement. If the customer is not personally present statement should not be

given till the bank receives authorization letter from the account holder and the signature

is verified.

The benefits of account statement are as follows:

To help the customers to know about the uses of fund in chronological order

To act as an evidence if any discrepancy occurs in the transaction

To assist the customers in knowing the charges charged by the bank and interest

credited by the bank

Account operation and maintenance

Customer’s instruction

All account related instructions from the account holders must be duly signed by

the account holder or authorized person. Upon the receipt of instruction, the department

must put time stamp on the letter and authenticate signature, before acting upon the

instruction. Required instruction should be entered into the system by the department

supervisor and a notation is made in the request letter accordingly. Where signature

differs, customer should be immediately notified to avoid potential fraud.

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Receiving customer’s instructions and verifying the signature are the tasks

involved. After BM’s approval necessary information are entered in the system and the

request letter is filed with account opening form. Power of attorney, no objection in

account operation, authorization to operate account, change in customer’s details are the

major instructions provided by the customers.

Dormant Accounts

Account meeting any of the following criteria should be classified as

inactive/dormant accounts:

Account having no transaction for last six months.

Account where notice of bankruptcy or receivership have been served or a

general assignment to a creditor has been made etc

Account where a notice of the customer’s death has been received and an

executor or administrator has not yet been appointed.

Account on which the branch is not permitted to forward any

communications because of regulations, decrees etc.

The dormant is flagged by computer system as per defined set up in case of

reason number one. In other cases the accounts cannot be flagged dormant however to

monitor they have to be blocked manually. In case of dormant accounts, the operation of

the account like deposit and withdrawal must be authorized by Branch Manager.

Preparing an exhibit of dormant accounts on the instruction of BM and informing the

concerned customer are the activities done.

Blocked accounts

Blocked accounts are those on which operations have been stopped by the local

legal authorities, on customer request or as explained under ‘dormant account’. When the

bank receives such instructions Branch Manager should be notified about the same and

blocks the account accordingly. When a legal notice prohibiting operation of an account

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is received the customer will be advised that his account has been blocked and the

reasons thereof. The block may be lifted only after the Head Office grants the permission

to do. The BM will additionally authorize this. As soon as the block is removed the

customer will be advised that he may resume operations on the account. As in dormant

account, an exhibit is prepared for blocked accounts also. The concerned account holders

are informed if necessary.

Stop Payment Instruction

A customer can issue stop payment instruction on a cheque unless he has earlier

advised the bank to guarantee the cheque good for payment. Payment of cheque

guaranteed good for payment might be stopped only if the cheque is lost/stolen or

destroyed. The stop payment instruction must be made in writing duly signed by the

customer and must provide full or as much detail as possible of the cheque such as

cheque number, date of issue, amount and the payee’s name. Generally stop payment

instructions will not be queried unless it is observed that the customer is resorting to them

very frequently and may be to prevent dishonor of cheques due to lack of sufficient funds

in the account. In such cases due consideration may be given to closure of the account.

Good For Payment

At times customer may request the bank to guarantee the cheque “good for

payment”. Before certifying the cheque good for payment the staff must check all

necessary features to encash a cheque. Apart from ensuring good balance in the account

the cheque must be examined for other required features like date, signature, amount in

words and figures etc. which are necessary as per instruction of the account holder and

banking practice and regulations. The cheque should be stamped good for payment both

on the front and the back side. Customer can not stop the payment of cheque, which has

already been certified as good for payment unless the cheque is lost/stolen or destroyed.

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When the cheque is presented at the counter with GFP stamp, the cheque should be

forwarded to Branch Manager to release hold put on the account for the cheque amount.

Minor Account

A minor is a person who has not reached the age of 16 years. As the minor does

not have any legal status his/her guardian will operate the account although the bank

opens an account in the minor’s name. Therefore when a minor account is opened, the

name of the guardian and identification must be obtained along with the relationship of

the guardian and the minor. A copy of birth certificate (hospital/school) must be obtained

and filed along with other documents. The guardian can instruct the bank to transfer

certain amount to minor’s account on monthly basis from his/her account. The restriction

on withdrawal depends upon the guardian. Once the minor reaches 16 years, he/she can

operate the account or can give authority to third party for account operation. The

guardian can not operate the account unless authorized specifically once the minor

becomes major. All other account opening, operation, documents and control procedures

will be same as any account operation. Separate file is maintained for minor accounts.

2.1.6 Implementation of KYC policy

Banks and financial institutions need to obtain detail background and information

about the customers so that they are in position to make rational decision whether the

customer relationship and transaction carries significant risk or not. The banks may

become the vehicles for money laundering, terrorist financing and other unlawful

activities that may arise mainly due to inadequate information about the customers and

monitoring their transactions. Hence, banks should implement effective KYC policy to

ensure that all persons conducting business transactions are properly identified and the

carried out transactions are legitimate. NRB has issued the KYC guidelines for all the

banks and financial institutions.

The followings are the evidences that Nabil Bank has implemented KYC policies.

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Necessary to disclose the source of fund while depositing 1 million or more

amount. It is indicated in deposit slip which is filled up by the customers to

deposit their amount.

Compulsory to fill up KYC form while opening a new account. It provides

the information about details of customers, sources of fund, anticipated risk

involvement, volume of transaction, purpose of opening an account and so

on.

Preparation of Threshold Transactions Report (TTR) on weekly basis. TTR

shows which transactions exceed the limit of 1 million or more. Branch

Manager should monitor those transactions and verify them by specifying

none of the transactions are of suspicious nature.

2.1.7 Filing and indexing

Finally, account opening forms containing all the essential documents are kept in

the file. The forms are placed in chronological order according to ascending account

numbers. Different files are maintained for current accounts and saving accounts. In case

of saving account and individual current account a ring file will be maintained. Relevant

documents related to the account are filed in the ring file. A separate file is maintained

for individual corporate account. Any document and correspondence to and from the

customer is maintained in this file. The index is used for quick access to the file.

The main purposes of filing are:

To keep the documents safe from misplacement

To retrieve the documents easily whenever required

To protect the documents from dust

To restrict unauthorized users

To act as future reference

To assist internal audit in accessing the file

Apart from filing, various registers and exhibits are also maintained to update the

information. These are prepared on daily, weekly and monthly basis.

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2.2 OUTWARD CLEARING

2.2.1 Introduction of Clearing

One of the services provided by commercial bank is clearing facility. Clearing is the

service facilitated by the banks in order to safeguard the customers from the hazards of

carrying cash. In the absence of this service, the customer has to carry cash whenever

there is inter-bank transaction. This increases the individual’s risk of robbery and theft of

the cash. Moreover, in case the volume of transaction is huge it is highly inconvenient

and unsafe for the customer to carry cash physically. Thus, the clearing function enables

the customer to carry out the financial activities without the risks associated with

handling the cash.

Clearing is an efficient and safe system of inter-bank transfer of funds that facilitates

the transfer of funds systematically within a limited area. The clearing service is

beneficial for the bank’s perspective as well. It helps in reducing the cash management

expenses of the bank by significantly lowering the cash requirement. It is beneficial for

both bank and the customer. Thus, it is becoming more popular day by day. It is a system

where the member banks in a specified area make settlement of the

, the cheques received for clearing are sent to the Bills and Clearing Department at

Kantipath on payment and receipts under the leadership of a common clearing house.

Nepal Rastra Bank performs the function of the clearing house in the Kathmandu valley.

2.2.2 Outward clearing

Outward clearing refers to the cheques of other banks deposited by the customer for

realization. In order to receive outward clearing service the customer must maintain an

account in the bank. After receiving deposit of cheque in clearing, the cash counter

forwards the clearing cheque along with deposit slip to the clearing handling section.

Nabil Bank has maintained ABBS membership with NRB since the bank operates the

ABBS system. ABBS membership is issued to only one branch of the bank which is

entitled to represent all other branches under its network. Therefore, main branch is

responsible for clearing of the cheques collected from all other branches. Bills and

36

Clearing Department at the main branch, Kantipath will look all the clearing function of

whole Nabil Bank. Hencedaily basis through courier.

2.2.3 Clearing process

The process of outward cheque clearing is as follows:

All the outward cheques that customers deposit are entered first in the bank’s

software.

The posted amount and account number is being approved by the branch

manager.

The department crosses the cheque by putting crossing stamp on the face of the

cheque and makes the endorsement on the reverse of the cheque.

Cheques are recorded in the register

Clearing sheet list is being prepared.

Cheques are attached with the clearing sheet according to the name and branch of

the bank.

As the amount is balanced, transaction summary is prepared as per the format

provided and sent it to the head office (head office sends it to the clearing house.

2.2.4 Activities performed in clearing department

1. Assist the customer to fill the deposit slip for outward clearing cheques

2. Verify the following details on the cheque

The cheque issuing bank whether it is member of clearing house or not

The contact number of the customer

Endorsement on the cheque

Date on the cheque

Amount in words and figures

3. Honor the cheque by crossing and put the stamp of Nabil Bank

4. Record the detail information of outward cheque clearing in the register

5. Photocopy the cheques and prepare the file

37

Branch Bank

Head Office

Nepal Rastra Bank

All bank’s representatives are present there in a round table

Cheques of respective banks are given to respective representatives

If respective bank clears the cheque, the bank will deposit the amount in our a/c in NRB

6. Print the clearing sheet containing the details of the cheque and attach the sheet

with respective cheques

7. The cheques are verified with the details of the clearing sheet

8. Finally, the cheques are forwarded to the main branch for clearing

Figure 1.4: Simple single layered cheque clearing process

2.3 Internship achievements:

38

Since childhood I had learnt a lot of theories full of assumptions and gained

knowledge from books but the internship period was really proved to be a great

learning experience and the inspection of exercising that knowledge. It provided a

platform to get acquaint with the real working scenario of a commercial bank. It has

developed the knowledge of interpersonal skills, professional qualities and time

management as well.

From internship, I learned that an individual cannot be competitive enough

without acquiring the theoretical and practical aspect of knowledge and getting

exposure in real work field. The main objective of internship program is to provide a

platform and foundation for starting our career after four years of study. I succeed in

learning various practical applications of theoretical knowledge during this period.

By working in CSD as an intern, I learned following lessons:

Basic activities and operations of CSD and its role in overall functioning of a

commercial bank

Developing inter-personal communication skills and interaction ability

The importance of team work and value of individual contribution to the team

To be familiar with formal and informal relationship within the organization

Using different banking software like Finacle core, Microsoft office, World

client

Using various office equipments like photo copy machine, scanner, printer,

cheque writer

Procedures of filing and indexing

CHAPTER -THREE

39

Summary and Conclusion

3.1 SUMMARY AND CONCLUSIONS

In current perspective, financial institutions are facing a lot of challenges in

Nepalese market. The investment opportunities and investment environment are two

moving wheels for the economic development of the nation. Hence, the level and core

of economic growth lies on the development of a well managed banking system.

From above analysis it is clear that Nabil bank is one of the well established and

leading commercial bank of Nepal which aims to serve its valued customers through

quality and advancement of its services throughout the nation. The bank is widely

providing its financial services through largely extended network. During internship

period, I got an opportunity to gain an in depth knowledge of the banking sector and

scrutinize its various aspects. Internship favored me to get the practical acquaintance

of the bank and its overall operation system. I observed the functional activities of

CSD and understood the corporate culture. Prior to internship, my knowledge was

limited within the books. At Nabil bank I was fully guided by all the staff in acquiring

the practical knowledge. It not only provided me the experience of functional

activities but also to let me know about the informal organizational relationships. The

internship added sense of responsibility to me while performing any task. The

experience of internship was incredible which boosted my confidence level and

enhanced my inter-personal communication skills. I developed interaction skills and

shaped up my personality too.

Therefore, I am very much pleased to conclude that Nabil bank is one of the best

banks with friendly environment and excellent customer service. It is your bank

delivering the best financial products.

3.2 LESSONS LEARNT

40

Since childhood I had learnt a lot of theories full of assumptions and gained

knowledge from books but the internship period was really proved to be a great

learning experience and the inspection of exercising that knowledge. It provided a

platform to get acquaint with the real working scenario of a commercial bank. It has

developed the knowledge of interpersonal skills, professional qualities and time

management as well.

From internship, I learned that an individual cannot be competitive enough

without acquiring the theoretical and practical aspect of knowledge and getting

exposure in real work field. The main objective of internship program is to provide a

platform and foundation for starting our career after four years of study. I succeed in

learning various practical applications of theoretical knowledge during this period.

By working in CSD as an intern, I learned following lessons:

Basic activities and operations of CSD and its role in overall functioning of a

commercial bank

Developing inter-personal communication skills and interaction ability

The importance of team work and value of individual contribution to the team

To be familiar with formal and informal relationship within the organization

Using different banking software like Finacle core, Microsoft office, World

client

Using various office equipments like photo copy machine, scanner, printer,

cheque writer

Procedures of filing and indexing

3.3 PROGRAM WORKPLACE REALATIONSHIP

41

During the internship I got chance to learn many things especially in customer service

department and in clearing department. In some extent such as marketing, organization

relation, management, use of software was use practically during the work.

I had been appointed as an intern in the Nabil Bank Limited, Sinamangal Branch in CSD

and Cheque Clearing Department. This has certainly help me to get the deep insight

about the works being undertaken at these departments. I further got the opportunities to

use my academic knowledge in the professional setting of the corporate world. The

technical knowledge gained from the academic from the academic courses really helped

me tackle the various organizational problems which I had face during my internship

period. The work place environment in the NBL was very friendly and appropriate for

learning purpose for the intern like us. The employees there in the bank were very

supportive and co-operative. As I had spent much of my internship time at CSD

department a strong and realistic view about the working procedure there at the CSD

department.

In the presence of such co-operative and friendly environment I got opportunity to learn

about the CSD and Clearing /collection work at the bank and I was able to successfully

complete my internship program with full enthusiasm.

I believe that this kind of internship program will help the students to learn new things

and gain knowledge about the banking system of the country. I have also learned many

things during the internship which is not possible without it.

To organize this kind of program by the Pokhara Universities is itself a very good thing.

This kind of effort shows that PU is providing the international level studies to their

students and more focus on student be improve in existing program is that there must be

at least two months time provided to the student for the internship program so that they

can learn as much as possible.

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