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Internship Report on General Banking Activities at NIC Asia

Bank (BBA)
Internship Report (Tribhuvan University)

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GENERAL BANKING ACTIVITIES ON CUSTOMER SERVICE

DEPARTMENT OF NIC ASIA BANK LIMITED,
SURYABINAYAK BRANCH

An Internship Report

Submitted by

Kabita Manandhar

Bhaktapur Multiple Campus

Symbol Number: 21888/18

T.U. Regd. No.:7-2-20-449-2018

Submitted to

Office of the Dean

Faculty of Management

Tribhuvan University

In partial fulfillment of the requirements for the degree of

Bachelor of Business Administration (B.B.A)

Dudhapati, Bhaktapur

AUGUST, 2023

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INTERNSHIP CERTIFICATE

ii

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DECLARATION

This Internship Report entitled “GENERAL BANKING ACTIVITIES ON

CUSTOMER SERVICE DEPARTMENT OF NIC ASIA BANK LIMITED,
SURYABINAYAK BRANCH” which is submitted by me in partial fulfillment of the
requirements for the award of BBA degree of Tribhuvan University comprises only my
original work and due acknowledgements have been made to materials used in the
report.

Signature …………………….

Kabita Manandhar

August, 2023

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BONAFIDE CERTICATE

Certified that this Internship report

General Banking Activities on Customer Service Department of NIC Asia Bank

Limited, Suryabinayak Branch, Bhaktapur

is the bonafide work of

Kabita Manandhar

who caried out the Internship Report under my supervision.

This report is forwarded for examination.

Mr. Tulsi Ram Ghemosu Mr. Tulsi Ram Ghemosu

Supervisor Program Director

Signature

Name of the External Examiner

August, 2023

iv

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ACKNOWLEDGEMENT

This study report entitled “GENERAL BANKING ACTIVITIES ON CUSTOMER

SERVICE DEPARTMENT OF NIC ASIA BANK LIMITED, SURYABINAYAK
BRANCH” is prepared for the partial fulfillment of requirements for the degree of
Bachelor of Business Administration at the faculty of Management, Tribhuvan
University. I would like to express my deepest gratitude to Mr. Tulsi Ram Ghemosu ,
Supervisor for valuable guidance, priceless suggestions and inspiring me to prepare this
internship project. I am also thankful to our respected Campus Chief Dr. Krishna
Prasad Pokharel. Similarly, I am grateful to Mr. Tulsi Ram Ghemosu (BBA director),
who has been always motivating me in each and every field, Bhaktapur Multiple
Campus for their time and advise in managing the content of the report. I am profoundly
grateful to all the intellectuals’ colleagues who helped me throughout the project.

Likewise, I owe my sincere gratitude towards Mr. Amrit Man Shrestha, Branch
Manager of Nic Asia Bank who took out time from his busy schedule to guide and
keep me on the correct path during the internship period. Also, I would like to express
my utmost gratitude to Mrs. Seema Adhikari (Customer Service Department), Mrs.
Srijana Ranjit (Experience manager), Mrs. Ashma Adhikari (Loan Department), Mrs.
Arjina Ligal (Operation In charge) and all the supportive hands of Nic Asia Bank for
their precious guidance which is extremely valuable for my personal as well as career
development.

My sincere thanks go to all my friends, faculty members and other instructors of my

college and Nic Asia Bank, Suryabinayak Branch for helping me during the internship
and I am greatly indebted to all the employees of the respective branch of Nic Asia who
courageously spelled out their views with the productive suggestions, without whom,
the research would have been almost impossible. I would also like to acknowledge
various personnel who have guided and supported us toward the completion of this task

Thank you!
Kabita Manandhar
AUGUST, 2023

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TABLE OF CONTENTS

INTERNSHIP CERTIFICATE ....................................................................................... ii

DECLARATION ............................................................................................................ iii
BONAFIDE CERTICATE ............................................................................................. iv
ACKNOWLEDGEMENT ............................................................................................... v
TABLE OF CONTENTS................................................................................................ vi
LISTS OF TABLES...................................................................................................... viii
LIST OF FIGURES ....................................................................................................... ix
ABBREVIATIONS .......................................................................................................... x
Chapter: I INTRODUCTION ........................................................................................ 1
1.1Background of Study ............................................................................................. 1
1.2 Objectives of the study ......................................................................................... 2
1.3 Methodology ................................................................................................... 2
1.3.1 Nature and Sources of Data Collection ......................................................... 2
1.3.2 Organization Selection ............................................................................. 3
1.3.3 Placement ................................................................................................. 3
1.3.4 Duration of Internship ................................................................................... 4
1.3.5 Activities performed in organization ............................................................. 4
1.4 Limitations of the Study ....................................................................................... 6
Chapter II INTRODUCTION OF INDUSTRY ............................................................. 7
2.1 Concept of Bank ................................................................................................... 7
2.2 Origin of Bank ...................................................................................................... 8
2.3 Evolution of Banking Industry in Nepal .............................................................. 9
2.4 Functions of Commercial Banks in Nepal ......................................................... 11
2.5 Opportunity and Challenges faced by Banking sector ....................................... 14
Chapter III BRIEF INTRODUCTION OF THE ORGANIZATION .......................... 15
3.1 Introduction to NIC Asia Bank .......................................................................... 15
3.2. Organization’s vision, mission, objectives and values ...................................... 16
3.2.1 Vision........................................................................................................... 16
3.2.2 Mission ........................................................................................................ 16
3.2.3Objectives ..................................................................................................... 16
3.3 Composition of Board of Directors .................................................................... 17

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3.4 Organization Performance.................................................................................. 17

3.5 Major Market and Customers ............................................................................. 18
3.6 Major Product and Services ............................................................................... 19
CHAPTER IV JOB PROFILE AND ACTIVITIES PERFORMED ........................... 22
4.1 Job Profile .......................................................................................................... 22
4.2 Activities Performed in the Organization...................................................... 22
4.2.1. Dealing with Customers ............................................................................. 22
4.2.2 Account opening .......................................................................................... 22
4.2.3 Preparing of Cheque .................................................................................... 25
4.2.4 Preparing Bank Statement ........................................................................... 25
4.2.5 Handling and Making Calls ......................................................................... 25
4.2.6Filing the required form ................................................................................ 25
4.2.7 Updating KYC ............................................................................................. 26
4.2.8 Maintaining Proper Record ......................................................................... 26
4.2.9 Closing of an Account ................................................................................. 26
4.2Problems Solved.................................................................................................. 27
4.3 Strength, Weakness, Opportunity and Threat (SWOT) Analysis ...................... 28
CHAPTER V CONCLUSION AND LESSON LEARNT .......................................... 30
5.1 Key Skills and attitude learnt ............................................................................. 30
5.2 Feedback to organization ................................................................................... 31
5.3 Feedback to the College/ University .................................................................. 32
REFERENCES

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LISTS OF TABLES

Table 1 Division of Weeks and Activities Performed ................................................... 4

Table 2 Activities Performed ......................................................................................... 5
Table 3 Nepalese Financial Institution ........................................................................ 11
Table 4 Lists of Commercial Banks............................................................................. 13
Table 5 Board of Directors of NIC Asia Bank Ltd ...................................................... 17
Table 6 Product and services ....................................................................................... 19

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LIST OF FIGURES

Figure 1: Organizational Design and Structure of Nic Asia Bank, Suryabinayak ...... 21
Figure 2 :Flow Chart of Account Opening Procedure ................................................ 24
Figure 3: Flow Chart of Account Closing Procedure .................................................. 27

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ABBREVIATIONS

NIC : Nepal Industrial and Commercial

BOAN : Bank of Asia Nepal

CSD : Customer service department

OI : Operations In charge

BM : Branch Manager

AOF : Account Opening Form

KYC : Know Your Customer

ATM : Automated Teller Machine

FCY : Foreign Currency

LCY : Local Currency

SME : Small and Medium Enterprises

LC : Letter of Credit

NPL : Non-Performing Loans

YTD : Year to Date

NRB : Nepal Rastra bank

EPS :Earning per share

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Chapter: I
INTRODUCTION
1.1Background of Study
This report is prepared in partial fulfillment of the degree of Bachelor’s in Business
Administration (BBA) under the faculty of management. The internship program is a
practical of all the subjects learned in the classroom. The main objectives of the
internship program under the BBA are mainly focused at providing the practical
exposure to the students who have acquired the theoretical aspect of knowledge in
the related field of the study. It helps to learn about the organizational culture, know
how to maintain good public relationship, and makes competent to work in a dynamic
environment study. This program also helps to know how the organization operates
and how communication takes place and how activities are coordinated in the
corporate world.
Thus, this internship program can be regarded as fruitful opportunity for the BBA
student as this provides a platform to the students for gaining greater practical
knowledge to perform effectively in dynamic corporate environment with some work
experience.

This internship is a eight weeks program designed to provide students an opportunity

for meaningful career-related experience in real organization setting before they
graduate. It gives the students at opportunity to practices and expand their skills and
knowledge learned in the classroom in substantive work situation to learn in the real
work situation and an experience which can helps to achieve success.

For the partial fulfillment for the degree of Bachelor in Business Administration (BBA),
every student of eight- semester should prepare an internship report. This internship
report is mainly focused on Customer Service Department of NIC Asia Bank,
Suryabinayak Branch Bhaktapur. Thus, this internship period was an opportunity to
understand the overall working pattern of CSD in NIC Asia Bank.

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1.2 Objectives of the study

Every action is directed towards accomplishing certain objectives. Setting objectives
helps to understand and analyze hoe the action needs to be directed. After the
completion of internship program, it is mandatory to prepare report regarding what the
internees have learnt in the organization over the internship duration. Bank and to get
practical exposure to the organization’s operation and environment.

Following points highlighted its specific objectives:

➢ To study, understand and analyze the operation activities in CSD

➢ To know the banking services provided by bank.
➢ To gain knowledge and experience of banking by means of interaction,
observation and working experience.

1.3 Methodology
This internship is the study of particular subject backed by the collection, compilation,
presentation and interpretation of relevant information. It starts from the selection of
the organization for the internship, performance of different kinds of activities and
placement in different parts of the organization and last collection of various primary
and secondary data for the preparation of the report. It helped to analyze the findings in
meeting the objectives of the study.

1.3.1 Nature and Sources of Data Collection

Data is value collected through record keeping or pooling, observation, or measuring.
For the report the data are collected from the primary sources and secondary source.
They are as follows:

a) Primary Data
Primary sources of data are known as the data which are collected through
observation and direct contact. They are not derived from any other sources.
1. Observation of working environment of the bank.
2. Visited banks and practiced as the intern in order to associate with
different aspects of the banks.
3. Met with the customer of the bank and had a direct contact with them
for relevant information.
4. Informal discussion and interaction with the staff of the bank.

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b) Secondary Data
The secondary data is the one which has already been collected by a source
other than present investigator. Secondary data include both raw data and
published summaries.
1. Annual report of Nic Asia Bank Limited
2. Information from official website of Nic Asia
3. Notices and working guideline of Nic Asia
4. Application from different type of account opening
5. Hoarding Boards
6. Official website of Nepal Rastra Bank (NRB) -www.nrb.org.np

1.3.2 Organization Selection

As the selection of BBA specialization for the final semester was Business Finance, the
selection of a good organization was very important. BBA graduate seek banking career
to be most lucrative, so commercial banks with diversity in products and better working
and learning environment for interns are the best choice for an intern. Developing
competencies is possible by working as a member of the bank rather being treated as
an intern.

Taking into consideration the numerous options available for the internship, various
pros and cons of each of the alternatives was thoroughly analyzed. Before selecting the
organization, Curriculum- Vitae (CV) was dropped at different banks. Among different
alternatives available by considering the suggestion by family and easily accessible
location, Nic Asia Bank Limited, was chosen to work as an intern. The recommendation
letter was also provided by the college which helped to get a chance to work as an
internee in one of the best banks in the country.

1.3.3 Placement
After a week, the date for an intern was informed and contract letter was signed agreeing
all the terms and conditions of the bank. The internship was started from (April 18,
2023 to June 23, 2023). The intern was placed in Suryabinayak branch of Bhaktapur.
Intern was provided with an opportunity to understand all the functionalities of the

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bank, especially all those performed in that branch except handing cash. intern has
several departments to work for and learn the specific importance and working
pedagogy of each department during the short eight weeks period.

Internee was placed in the internal and external places of these departments. All these
department had an internal as well as external placement area. The period for placement
was April to June from 10.00am to 6.00 pm. The placement was made eight weeks in
Customer Service Department.

1.3.4 Duration of Internship

The duration of internship has been defined for 2 months hours of working time at the
organization by Tribhuvan University (T.U.), Faculty of Management (FOM). So, in
order to fulfill this requirement, an internship was done for two months starting from
July to November, from 10:00am to 6:00 pm.

The duration of intern’s work in each department is presented below:

Table 1
Division of Weeks and Activities Performed

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

CSD

Source: Internship 2023

1.3.5 Activities performed in organization

Various activities were performed in different departments under the guidance of the
supervisors of the respective departments during the internship.The internship was a
practical experience of banking sector, working as an internee in this department was
challenging as well as full of the opportunity to exposure the theoretical that has been
learned so far. Intern worked at customer service department which is nerve center of
the bank generating most of the businesses of the company.

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Table 2
Activities Performed
Departments Activities Done

➢ Account operation (Account opening and closing)

➢ Process from printing cheques to submitting to final
customers
➢ Assisting customer to fill various form (ATM, account
opening, account closing, SMS banking, e-banking, new
signature, new cheque, KYC)
➢ Photo, signature card scanning
Customer ➢ Checking balance and finding account number
Support
➢ Printing bank statement
Department
➢ Forwarding customer to respective department as per the
requirement of customer
➢ Providing necessary information to the customer
➢ Addressing the customer’s complaints
➢ Resolving the problem and injuries
➢ Interacting and receiving various information
➢ Receiving calls and making calls
➢ Record keeping, reporting and filling account opening,
closing and KYC update systematically and effectively

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1.4 Limitations of the Study

Despite lots of opportunities prevailing for the study, there were few limitations which
restricted the study and they are:
1. It was difficult to have the in- depth study of all the department due to the time
constraints.
2. Due to pandemic and frequent lockdown there was gap of internship for time to
time.
3. The bank’s policy in keeping some matters confidential prevented from
analyzing various critical fact and issues.
4. Limited availability of annual reports, office records, and other published and
unpublished source of data.
5. Time and resources constraints are the major limitation of this report.
6. This report doesn’t explain the overall functioning of the bank.
7. The interpretation and conclusion were drawn within the limitations of
individual’s knowledge and judgment abilities and on the basis of data provided
and other published and unpublished sources. So it may lack the professional
and expert touch.
8. Since the intern is confirmed to few departments, only the related data of limited
departments are available.

However, ignoring all limitations, it has been best tried to gain adequate banking
knowledge and sincerely perform the task assigned.

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Chapter II
INTRODUCTION OF INDUSTRY

2.1 Concept of Bank

Bank is a financial institution that deals with the monetary transaction. It accepts
deposits from surplus units and provides the loan to deficit units. It collects scattered
money from the public in the form of deposit by providing them the certain percent of
interest and distributes the accumulated fund to others, who are in need of money by
charging the certain percent of interest, which is usually higher than the interest that it
gives to the depositors. Thus, the spread between interest on lending and borrowing is
the bank’s profit. Banking sector definitely plays a pivotal role in the overall
development of an economy. The functions of the modern banking system are
multifarious in nature and owing to the shift in emphasis of the functions of the bank a
different stage of development; different economists have defined banking in different
ways.

A bank is a financial institution licensed by a government. Its primary activities include

borrowing and lending money. Banks helps to carry out the activities related to
economy of the country. Example: Trade, Industry, Agriculture. Without a bank, it
would be quite impossible for the industrialist to collect fund for investment directly
from the general public or from other sources.

Definition of Banking

Although almost all people are nowadays familiar with financial institutions like bank,
yet. It is very difficult to define them properly. The following are some of the main
definitions given by different authors.

“A bank is an organization whose principal operations are concerned with the

accumulation of the temporarily idle money of the general public for the purpose of
advancing to others for expenditure.” – Kent

"A Bank is a financial institution, which provides financial services that may be in the
form of accepting deposits, advancing loan, providing necessary technical advices,
dealing over foreign currencies, remitting funds, etc.”. -Nepal Rastra Bank Act 2002

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“Bank is a financial institution, which provides financial services that may be in the
form of accepting deposits, advancing loan providing necessary technical advices,
dealing over foreign currencies, remitting funds, etc.” - Nepal Rastra Bank Act 2002.

According to Nepal Commercial Banking Acts, “A commercial banks refers to such

type of banks which deals in money exchange, accepting deposits, advancing loans and
commercial transaction except specific banking related to cooperative agriculture and
industry and other objectives.”

In conclusion, bank is a financial institution whose essential operation is to take the

deposit from public and lend money towards different productive sectors. It creates
credit and also provides exchange facilities to the public. Bank can also be termed as
an intermediary who bridges the gap between the saver of funds and user of funds.

2.2 Origin of Bank

The term bank is either derived from old Italian word ‘bancaor’ or from French word
‘banque’ both mean a Bench or money exchange table and German word “bank”which
means Joint Stock Company. In olden days, European money lenders, or money
changers used to display coins of different countries n big heaps on benches or tables
for the purpose of leading or exchanging. in most simple form, banking is an old as
authentic history. The term bank was first used in Italy when there was an economic
crisis in1171 due to the Great War. The early bankers, the Jews in Lombardy, transacted
third business at benches in the marketplace. When they were unable to meet their
liabilities, the depositors used to break their benches and the term bankrupted was
derived.

The Bank of Venice which was established in 1157 A.D. was the first bank in the
history of banking followed by The Bank of Barcelona, Spain which was established in
1401 A.D. and Bank of Geneva (1407 A. D). The crucial breakthrough in the modern
banking history was made in 1694 A.D when the first modern bank “The Bank of
England” was established. They have developed from a few simple operations
involving satisfactions of a few individuals wants to the complicated 10 mechanisms
of modern banking involving the satisfaction of the whole community by serving
speedy application of capital, slowly seeking employment and thus providing the very
lifeblood of commerce. The history of banking is closely related to the history of
money. As a society become more civilized, the need for more efficient methods for

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barter was developed organically. Most origins of money can be traced back to the
building of large structures such as temples, or large undertaking by leaders, such as
wars. After the establishment of this first English Bank, Banking sector had experienced
various ups and downs but still they persisted and because of that persistence they are
now able to exist in this 21st century world as one of the essential elements of human
life.

2.3 Evolution of Banking Industry in Nepal

The history of banking in Nepal dates back to the year 1937 AD with the establishment
of Nepal Bank Limited as the first commercial bank in Nepal. It was established as a
semi-government bank with METALLIC COINS worth NRs 10 million as the
authorized capital. Banknotes in Nepal weren’t introduced up until the mid-1940s. It
was in the year 1945 that the earliest banknotes were issued by the treasury “Sadar
Muluki Khana”. These notes were signed by a “Khajanchi”, the head of the treasury
who also was a high Hindu Priest.

Later in the year 1955, Nepal Rastra Bank Act was formulated for a better banking
system and Nepal Rastra Bank was established in 1956 as the Central Bank of
Nepal accordingly. After this date, the banknotes were issued by the Central Bank with
the signatures of the governors of the institution. Till the 1980s, the banking sector was
wholly owned by the government, with Agriculture Development Bank, Rastriya
Banijya Bank, NBL and NRB being the pillars of financial institution in Nepal.

A sound banking system is important for smooth development of banking system. It

can play a key role in the economy. It gathers savings from all over the country and
provides liquidity for industry and trade. In 1957 A.D. Industrial Development Bank
was established to promote the industrialization in Nepal, which was later converted
into Nepal Industrial Development Corporation (NIDC) in 1959 A.D.

Rastriya Banijya Bank was established in year 2022 B.S. as the second commercial
bank of Nepal. The financial shapes for these two commercial banks have a tremendous
impact on the economy. That is the reason why these banks still exist in spite of their
bad position.

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As the agriculture is the basic occupation of major Nepalese, the development of this
sector plays in the prime role in the economy. So, separate Agricultural Development
Bank was established in 2024 B.S. This is the first institution in agricultural financing.

47 years after the first bank was established in Nepal, the first privately owned
commercial bank, Nabil Bank ltd., was established in the year 2041 BS. Seven more
commercial banks were added in a decade after 2041 B.S. Only four commercial banks
were established from the period of 2051 B.S. to 2063 B.S. There are mainly two
reasons for it. In this time period the country saw the sluggish economic growth due to
the Maoist insurgency. The second reason being the reluctance on issuing license by
the regulatory body, the NRB.

After the Maoist insurgency came to an end in the year 2063 B.S., at least one
commercial bank was established every year till last year. The banking industry, like
other sector, saw growth in the absence of ongoing conflict. However, this sector was
also not immune from poor governance, corruptions and scandals. The government
owned banks were the most effected ones due to direct political interference in the
banking activities.

For more than two decades, no more banks have been established in the country. After
declaring free economy and privatization policy, the government of Nepal encouraged
the foreign banks for joint venture in Nepal. Today, the banking sector is more
liberalized and modernized and systematic managed. There are various types of bank
working in modern banking system in Nepal. It includes central, development,
commercial, financial, co-operative and Micro Credit (Grameen) banks. Technology is
changing day by day. And changed technology affects the traditional method of the
service of bank.

Banking software, ATM, E-banking, Mobile Banking, Debit Card, Credit Card, Prepaid
Card etc. services are available in banking system in Nepal. It helps both customer and
banks to operate and conduct activities more efficiently and effectively.

For the development of banking system in Nepal, NRB refresh and change in financial
sector policies, regulations and institutional developments in 1980 A.D. Government
emphasized the role of the private sector for the investment in the financial sector.

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These policies opened the doors for foreigners to enter into banking sector in Nepal
under joint venture.

Some foreign ventures are also established in Nepal such as Nepal Bangladesh Bank,
Standard Chartered Bank, Nepal Arab Bank, State Bank of India, ICICI Bank, Everest
Bank, Himalayan Bank, Bank of Kathmandu, Nepal Indo-Suez Bank and Nepal Sri
Lanka Merchant Bank etc. Though the world had already leaped forward toward the
modern banking practices but till 1937 A.D, the Nepalese were completely unaware of
threes developments and still using the moneylenders and the rural landlords as the
informal banks. This scenario is enough to explain that the bank.

Table 3
Nepalese Financial Institution

Types of Financial Class Number

Institutions

Commercial Bank A 20

Development Bank B 17

Finance Companies C 17

Micro Finance Financial D 65

Institutions

Source: NRB, 2023

2.4 Functions of Commercial Banks in Nepal

The functions of commercial bank can be divided into three categories.

1. Primary Functions

Primary function of commercial bank is that function which deals with

a) Accepting deposit
• Current deposits
• Fixed deposits
• Saving deposits

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• Recurring deposits
• Miscellaneous deposits (Home construction deposit scheme, Sickness benefit
scheme, Children plan, old age pension scheme, etc.)

b) Granting Loans and Advances

i. Loans (credit facility more than one year)
• Demand loan
• Term Loan

ii. Advances (short -term financial assistance)

• Cash credit
• Bank overdraft
• Discounting of bills

2. Secondary functions

The secondary functions of the commercial bank include

a. Remittance of Money
b. Purchase and sale of securities
c. Collection of credit instruments
d. Investing in government securities

3. Contingent Function
a. Exchange of foreign currency under direction of NRB
b. Monthly, quarterly publication of annual journals, bulletins and reports.
c. Safety of valuable goods such as gold, diamonds and documents.
d. Issue of credit instrument such as travelers’ cheque, letter of credit, draft,
master cards etc.

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Table 4
Lists of Commercial Banks

Rank Commercial Banks

1. Agriculture Development Bank

2. Citizens Bank International

3. Everest Bank

4. Global IME Bank

5. Himalayan Bank

6. Kumari Bank

7. Laxmi Sunrise Bank

8. Machhapuchhre Bank

9. Nabil Bank

10. Nepal Bank

11. Nepal Investment Mega Bank

12. Nepal SBI Bank

13. Nic Asia Bank

14. NMB Bank

15. Prabhu Bank

16. Prime Bank

17. Rastriya Banijya Bank

18. Sanima Bank

19. Siddhartha Bank

20. Standard Chartered Bank Nepal

Source : Investopaper.com , 2023

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2.5 Opportunity and Challenges faced by Banking sector

In this present era of globalization financial institution like commercial banks possess
a lot of opportunities that could make it prosperous along with the various threats to be
eliminated. The global opportunities and challenges have direct influential
characteristics for the banking industry. Therefore, it become a prime concern to view
the overall market opportunities and threat for each banking industry. the following are
opportunities and threats;

Opportunities

• Peoples changing perception toward different financial institution

• Increasing habit of saving and spending through modern technology
• New opportunities sector for investment
• New option for saving and ideas revolving in market
• Technological advancement and up gradation
• Dynamic needs and technological advancement
• Habit of saving and investment through much electronic use
• Advancement in people’s perception and attitude for saving

Challenges:

• New NRB policies

• Legal and constraints restriction
• Maintaining of more paid in capital
• Merging situation
• Peoples changing preferences
• Customers striving for new and best service quality
• Employee management and professional consultation

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Chapter III
BRIEF INTRODUCTION OF THE ORGANIZATION
3.1 Introduction to NIC Asia Bank

NIC ASIA Bank is the first commercial bank which has created history in the Nepalese
banking sector as the first merger of two “A” class commercial banks namely NIC Bank
and Bank of Asia. The bank started its operation as NIC ASIA Bank from Sunday, 30th
June, 2013, at a function to be inaugurated by Dr. Yuba Raj Khatiwada, Governor,
Nepal Rastra Bank (NRB) at the Bank's new corporate office at Trade Tower,
Thapathali, Kathmandu.

NIC ASIA Bank has its antecedents in NIC Bank which was established on 21 st July
1998. The Bank was rechristened as NIC Asia Bank after the merger of NIC Bank with
Bank of Asia Nepal on 30th June 2013. This was a historic merger in the annals of
Nepalese financial landscape as the first of its kind merger between two successful
commercial banks in the country. Today, NIC ASIA has established itself as one of the
most successful commercial banks in Nepal. Nepal Industrial and Commercial (NIC)
Bank and Bank of Asia Nepal (BOAN) completed their merger process and commenced
joint operation as NIC Asia Bank from Sunday (June 30).

On the occasion, Nepal Rastra Bank Governor congratulated the newly merged NIC
Asia Bank Ltd for becoming one of the top five banks of the country as per its size of
capital, branch expansion. In the merger process, 13 branches of the banks at same
locations have been amalgamated. Nine branches from outside Kathmandu Valley and
four within the valley are thus amalgamated. Similarly, BOAN registered office and
NIC Bank corporate office are converted into branch offices. The corporate office of
the merged ‘NIC Asia Bank Limited’ is located at Trade Tower, Thapathali,
Kathmandu. Similarly, the newly merged bank is also planning to open new branches
in other areas within the next year to make up for the number of branches reduced by
this amalgamation.

During the post-merger integration phase, NIC ASIA managed the transition very
smoothly receiving accolades from the regulators as well as the stakeholders, paving
the way for other mergers and consolidation in the Nepalese financial sector. After the
merger, NIC ASIA was recognized as “Bank of the Year 2013-Nepal” by The Banker,

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Financial Times, UK. This is the second time that the Bank was recognized with this
prestigious award, the previous occasion being in 2007.

NIC ASIA Bank is now, one of the largest private sector commercial banks in the
country in terms of capital base, balance-sheet size, number of branches, ATM network
and customer base. The Bank has 67 branches across Nepal with a network covering
all major financial centers of the country. The Bank strongly believes in meritocracy,
transparency, professionalism, team spirit and service excellence. These core values are
internalized by all functions within the Bank and are reflected in all actions the Bank
takes during the course of its business.

3.2. Organization’s vision, mission, objectives and values

3.2.1 Vision
The vision of NIC Asia bank is, “To become one of the most respectable banks in Nepal
based on honorable conduct and long-term financial performance.

3.2.2 Mission
The mission of NIC Asia bank is to become a leading bank in Nepal by providing
complete financial solutions to our customers, superior value to our shareholders and
promising growth opportunities to our employees.

3.2.3Objectives

• To increase their competitiveness.

• To provide a wide range of banking services and products in the emerging socio-
economic environment within and outside the country and contribute in socio-
economic development of Nepal.
• To mobilize the local saving and channeling them into productive areas.
• To provide quality services to the customers and satisfy their wants.
• To maximize the shareholder’s wealth by making optimum investment,
financing, and dividend decisions.
• To capture more market share in the competitive environment through
innovative products.
• To be awarded with prestigious “Bank of the year” title.

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3.3 Composition of Board of Directors

The Directors of the Bank are eminent personalities with vast experience in business
and the financial sector. The Board of Directors is fully committed to a high standard
of corporate governance, which among others encompasses the principles of full
disclosure and transparency, social responsibility and accountability, "zero tolerance"
compliance culture, business and customer confidentiality, intolerance of conflict of
interests, and an independent management. The Board comprises of the following
directors which is presented in given table.

Table 5
Board of Directors of NIC Asia Bank Ltd

S.No. Name Designation

1. MR. Tulsi Ram Agrawal Chairman

2. Mr. JagdishPrashad Agrawal Director

3. Mr. Ram Chandra Sanghai Director

4. Mr. Trilok Chand Agrawal Director

5. Mr. Rajendra Aryal Director

6. Mr. Binod Kumar Pyakurel Director

7. Mr. Ganesh Man Shrestha Director

Source: nicasia.com.np

3.4 Organization Performance

The core values and ethical principles of NIC Asia Bank describes our customers and
the communities we serve, who we really are; what we are about; and the principles by
which we pledge to conduct business. In essence, we believe that success can only be
achieved by living our organization performance effectively and efficiently:

• Customer Focus: At NIC Asia, our prime focus is to perfect our customer
service. Customers are our first priority and driving force. We wish to gain

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customer confidence and be their trusted partner. Customers are first than
anything; they are the real assets of the bank.

• Quality: We believe a quality service experience is a paramount to our

customers and we are strongly committed in fulfilling this ideal.

• Honesty and Integrity: We ensure the highest level of integrity to our

customers, creating an ongoing relationship of trust and confidence. We treat
our customers with honesty, fairness and respect.

• Belief in our people: We recognize that employees are our most valuable asset
and our competitive strength. We respect the worth and dignity of individual
employees who devote their careers for the progress of the Bank.

• Teamwork: We are a firm believer in team work and feel that loyal and
motivated teams can produce extraordinary results. We are derived by a
performance culture where recognition and rewards are based on individual
merit and demonstrated track record.

• Good Corporate Governance: Effective Corporate Governance procedures

are essential to achieve and maintain public trust and confidence in any
company, more so in a banking company. At NIC Asia, we are committed in
following best practices resulting in good corporate governance.
• Corporate Social Responsibility: As a responsible corporate citizen, we
consider it important to act in a responsible manner towards the environment
and society. Our commitment has always been to behave ethically and
contribute towards the improvement of quality of life of our people, the
community and greatly the society, of which we are an integral part.

3.5 Major Market and Customers

NIC Asia has covered nearly all the districts of Nepal. It has its branches inside and
outside the Kathmandu Valley. It has a number of customers in the places where its
branches are operating. It provides the facility of banking to all age groups from
children to old age. Children are provided with the facility of opening Little Star
Account and old aged people are provided with the facility of opening Senior Privileged

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Account. Other age groups also can open accounts accordingly and can-do banking
transactions easily. NIC Asia covers the Nepalese market where its branches are
opened.

3.6 Major Product and Services

NIC Asia Bank Limited provides various banking products and services in Nepal. The
company offers consumer banking products and services, including accounts and
deposits comprising LCY and FCY denominated accounts; consumer lending products,
such as auto loans, home loans, mortgage loans, mortgage overdrafts, personal loans,
and margin lending products, as well as loans against fixed deposits and government
securities; and remittance and card services. It also provides corporate banking services
consisting of corporate lending, letter of credit, and bank guarantee services; SME
banking services; and direct banking services which are listed as below:

Table 6
Product and services

PRODUCT SERVICES

➢ Sarbashrestha Sunya Maujat

Bachat Khata

➢ Premium Sammunati
BachatKhata
Deposits
➢ Call Accounts
➢ Payroll Saving Account
➢ Current Account

➢ NIC Fixed Deposits

Debit Card ➢ SCT Card

➢ NIC Asia International Visa Card

➢ NIC Asia Visa Debit Card

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Loans ➢ NIC home loan

➢ NIC mortgage loan
➢ NIC personal loan
➢ NIC overdraft loan
➢ NCC auto Loan
➢ Hire Purchase Loan

➢ Swift Transfer
➢ Western Union Money
Transfer
➢ Prabhu Transfer
➢ Money Gram
➢ SEWA Express
Remittance ➢ City Express Money Transfer
➢ Himal Remit
➢ Reliable Remit
➢ IME Transfer
➢ World Link Money Transfer
➢ SAMSARA Money Transfer
➢ Anywhere Branch Banking
Cards Accepted by NIC Asia ATMs ➢ Visa
➢ SCT

➢ MasterCard
E-Banking and Mobile Banking ➢ Account and deposit
➢ SMS Banking
➢ Branchless Banking

3.7 Organization Structure of Nic Asia Suryabinayak Branch

An organizational structure defines how activities such as task allocation, coordination

and supervision are directed towards the achievement of organizational aims.
Organization structure shows authority responsibility relationship in any organization.
It allows the expressed allocation of responsibilities for different functions and

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processes to different entities such as branch, department, work group and individuals.
It makes clear about reporting relationship in an organization setup. It also makes clear
exactly how many departments or functional areas are there in the organization. The
organization structure of the bank is bureaucratic. Each functional department looks
after their own area of activities with sound and efficient capabilities assisting the bank
to achieve its objectives. One of the major departments at NIC Asia Bank Ltd. is CSD.
The organizational structure of NIC Asia Bank Ltd., Suryabinayak , Bhaktapur is shown
below:

Branch Manager

Operational In- Credit

charge Department

Customer Service Cash Remittance, Clearing

Department Department FCY Department

Figure 1: Organizational Design and Structure of Nic Asia Bank, Suryabinayak

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CHAPTER IV
JOB PROFILE AND ACTIVITIES PERFORMED
4.1 Job Profile
During the internship period the internee got chance to work in different departments
at NIC Asia Bank, Suryabinayak, Bhaktapur. Internship program is organized to
develop the professional life of the students. It also helps to provide some strength for
students to compete in market. Internship in NIC Asia Bank is quite amazing and new
to us than theoretical knowledge of banking. I performed various activities in Customer
Service Department. During internship I also learned to handle the customers and some
of the communication skills. NIC Asia Bank provided me the great platform to get lots
of knowledge by providing the platform to work by trusting on internee and providing
the authority to carry various activities.

4.2 Activities Performed in the Organization

4.2.1. Dealing with Customers
Customer counseling is the very important function of any organization. Customer
service department acts as a help desk where customers can ask about their queries.
Customer service department is directly related to interaction with the customers. As
an intern, it is very important to efficiently deal with the customers and handle their
queries. customers come to the bank for various purposes such as opening new account,
closing the existing account, making enquiries related to account balance, debit card,
E-banking, mobile banking and so on. Customer’s queries were listened carefully and
then information were provided in very polite manner though the use of good
communication skill. Intern provided information about account opening procedure,
debit card, balance in their account, etc. and other information as asked by the
customers

4.2.2 Account opening

Account opening is the most necessary part for both the customer and bank. Without
an account neither bank nor customer can operate the financial transactions. So it is the
most frequent activity done in this department. The different types of account operation
in bank are:

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a. Saving

b. Current

c. Fixed Deposit

During his/her assistance in CSD, he/she had helped customer open account which is
more suitable for them. Moreover, counseled them about the major requirements of
account opening according to account type. Some of them are:

• Xerox of the customer’s identity (citizenship, license, etc.)

• . Two recent passport sized photograph
• Minimum balance according to the account type
• Documents like firm registration, PAN/VAT minute photocopy,
stamps of the firm, etc. for current account of firm.

Basic requirements for opening the personal account are:

• Customer’s name, gender, marital status, date of birth, permanent and

temporary address (phone number), father’s name, mother’s name nominee’s
name and all other relevant detail filled in the account opening form correctly
by the account holder
• . Agree with the terms and conditions of the bank
• Sign the specimen cards
• Certified true copy of identification document i.e. citizenship or passport and
Birth Certificate in case of minor account.
• Three photographs of account holder. In the given Flow Chart, the intern helped
the CSD staff in the following steps:
• Filling the required forms
• Checking the validity of the documents submitted
• Entry of customer details in the banking system
• Filling up KYC and sending it for approval

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Start

Fill a/c opening form

Process

Decision Reject application

Approve application End

Create account

Accept minimum
Provide a/c number
Deposit

Issue cheque book

End

Figure 2 :Flow Chart of Account Opening Procedure

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4.2.3 Preparing of Cheque

The intern had to issue new cheque book to the customers who request for new check
book. When the customers fill up the new cheque book requisition form the intern had
to check the details of the customer and verify it. The intern had to print the cheque and
make sure that the account number of the customer in the cheque requisition slip and
the cheque slipare same. Then, the intern had to place the cheque slips in order and bind
it with the new cheque requisition slip in the middle of the cheque book.

4.2.4 Preparing Bank Statement

CSD is responsible to provide bank statement to its customers. The intern had tocheck
the account number, signature, and account details of the customer. Then, if verifiedthe
intern had to print the bank statement for the period requested by the customers.
Theintern must be careful while matching the signature of the customers with the
origina lsignature in the account opening form because bank statement is issued only to
the accountholders

4.2.5 Handling and Making Calls

Telecommunication is the critical aspect of communicating with the customers in
NicAsia, Suryabinayak, branch. Customers of Nic Asia get the required information
about the bank and its services or ask about their queries via telephone calls. The intern
had the responsibility to handle such calls and solve the queries of the customers with
due diligence. The intern was also responsible to make phone calls to inform the
customers about their maturity of Fixed Deposits, ATM services, Cheque Book
issuance. The intern also had to inform the customers if any new services are launched
by the bank.

4.2.6Filing the required form

Customers have to fill different forms required to avail the services of the bank. These
forms can be very confusing for the new customers and need proper supervision. Thus,
the intern had the responsibility to guide the customers while filling different required
documents. Also, intern had to fill the documents him/herself in case of illiterate
customers

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4.2.7 Updating KYC

KYC refers to Know Your Customer. It is the mandatory provision by Central Bank to
maintain the detail information about the customers to identify their risk status and
prevent illegal activities like money laundering. The intern had the responsibility to
supervise the customers while filling the KYC form. Also, the intern had to update the
KYC form in the system of the bank.

4.2.8 Maintaining Proper Record

The documents and forms filled by the customers must be filed properly and kept in
proper order. The intern’s responsibility was to keep proper records of the documents
and files and had to produce the required documents when asked by the bank staff. It
was the duty of the intern to improve the efficiency of the work performance by
maintaining proper and systematic records of the documents and files.

4.2.9 Closing of an Account

The intern had to provide the necessary information and forms to the customers for
closing or transfer of an account. After the submission of form with the cheque slips (if
any) by the customers, the intern had to write the information on the register about the
customer and reasons to close or transfer the account. Then the intern had to put
cancellation stamp on those cheque slips and record it in different register. The further
process is done by the concerned officer to close or transfer the account.

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Figure 3: Flow Chart of Account Closing Procedure

In the above Flow chart of Account closing procedure the intern helped in the following
steps:

• Filling the Account Closing Form

• Sending the documents for approval from Accounts Department
• Sending the documents for approval from the BM
• Taking the cheque book and ATM card of the customer and keeping the record

4.2Problems Solved
During the internship period different problems has been arises. By facing the various
situations in the bank helped me to develop my interaction with new people. Whenever
the problem has been arising, I have given my best to solve the problems as an internee.

• In bank as internee, I had to deal with various natures of customers who came
with different questions result to difficult situations which creates problem and
also some customers misbehave towards the bank’s product of services. As an

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internee by dealing with them with confidence and taking quick decision the
problem was solved.
• Sometimes in bank there occurs problem related to foreign currency (like the
customer come for exchange of currency which are torn and old which the bank
does not accept to change) and as an internee I politely said them that it was the
system of bank.
• Old aged customer finds difficult to fill every form so I helped them to fill the
forms by asking them detail information.
• Customers make queries about documents required for remittance forms, FCY’s
forms. As an internee by referring to the remittance in-charge I have provided
the information to the customers related to the queries on different issues.
• Sometimes customers used to forget to bring the photocopy of their documents
and in that time, I helped them to copy those documents by the photocopy
machine available in the bank.

4.3 Strength, Weakness, Opportunity and Threat (SWOT) Analysis

The SWOT analysis was done on the basis of our experience during our internship
period and the past performance of NIC Asia Bank. NIC Asia Bank as being one of the
well reputed banks that has been continuously striving to adopt new technology and to
satisfy customers helped it to achieve its strength. As well as we can see that advanced
technology and globalization has provided a lot of opportunity. So that it can use its
strength to achieve new opportunities. Because of changing environment as well as
changing customer’s preferences it has to face a lot of threats. NIC Asia has to adapt to
this changing environment in order to minimize its weaknesses so that it will reduce its
threat to affect the organization.

The SWOT analysis of NIC Asia bank is presented below:

STRENGTHS
• Bank is able to established its branches in various part in short period of time.
• NIC Asia is a customer focused bank.
• The bank uses technology and have skilled staffs
• Very healthy and helpful environment created with the entire department
concerned, figuring out who is responsible for what incase of query from the
customer.

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• Strong top managerial teams

WEAKNESSES

• Regular problem in internet connections

• Sudden and frequent changes in interest rates
• The pending files and documents are not properly managed and are often
missed up in the hasty situations.
• Over work load to the employees
• Limited numbers of ATM’s

OPPORTUNITIES

• Opening of new branches in various place within and outside the valley.
• Technological advancement
• Speedily adopting the newer technologies
• Provide improved facilities to their customer.

THREATS

• Political instability
• Competitive pressure due to increasing banking sector
• Changes in customers preference
• Constant change in policies and rules
• Customers moving towards those banks which provide higher interest rates on
their deposits.

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CHAPTER V
CONCLUSION AND LESSON LEARNT
5.1 Key Skills and attitude learnt
My experience as internee in NIC Asia was very good. I experienced a very favorable
and conducive environment for the internee. The employees were very friendly and
supportive and always responding to our problems and queries. It was not just training
program rather it was fun working at NIC Asia. I am amazed how fast the eight weeks
tenure passed by. It is one of the great experiences of my life and I got immense
opportunity to learn from this program.

Working as an intern in NIC Asia Bank enables the internee to learn about many things
related with the banking activities. The following are the major lessons learnt during
the internship period:

• As an internee I had to carry out different tasks given by the staffs as well as
handling the customers who come for queries and for help at limited time
period. I learned how to manage time and balance the work load.
• I had to deal with the various customers of different age group, gender, different
cultural and educational background, etc. It is necessary to deal every people
with great co-operation and in a friendly manner so that they would not feel that
they are being neglected.
• It helped me to develop the interpersonal skills and confidence by dealing with
different customers and the staffs of the bank.
• I got knowledge about the importance of the CSD in the bank where the
customers’ problems are listened and later on provide the relevant information
to them as per their demand.
• It helped me to develop positive attitudes towards the customers, staffs and the
activities performed in the organization.
• Punctual, politeness, friendliness, obedient, positive attitude, cooperative etc.
are the positive personality that I learned during the internship period.
• I also got to know to be co-operative with all the staffs as well as the customers.
• Banking requires a great deal of teamwork and integrity within the departments.
As an internee I learnt how to work with other person with proper co-ordination.

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• As an intern I got chance to use the software to carry out some limited works
like enquiry, entry posting of the information.
• Using system for balance enquiry, providing them the statement of dmat slip,
opening accounts, scanning the documents, etc.

Finally, I believe internship programs helped me to improve my weakness. It also

helped me to gain working experience. The report should be prepared as per the
standard format prescribed by T.U. So, in addition to the above lessons, the I also
learned to prepare report which will help in report writing in the future.

5.2 Feedback to organization

Making recommendation is quiet difficult task because it should have strong support
with logic. Although bank is performing effectively following recommendations to NIC
Asia may be useful to minimize its weakness and maximize its strength.

• The space of the bank should be managed properly so it will be helpful for the
customers as well as staffs of the bank to deal with everything.
• Customers often face difficulties due to technological problems. Such problems
should be avoided as much as possible.
• Bank should try to train its staffs at regular interval to maintain sound
relationship with the customers of different class and answer their questions in
friendly.
• Appropriate feedback mechanism: NIC Asia management should also provide
the feedback to their employees about their performance so that all employees
know their strength and weaknesses.
• One of the main problems of Nic Asia is its ATM. There are numerous
complaints regarding ATM. The bank is advised to maintain the ATM on
regular basis.
• Proper and systematic flow of the work and information.
• Adoption of systematic office layout and filing system will help the office staff
to carry out daily activities efficiently and promptly reducing customer.
• The number of staffs should be increased in order to provide immediate service
and facilitate work division

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5.3 Feedback to the College/ University

The internship program is to be conducted by the students as per the requirement of the
university. The general objective of this course is to get the better understanding of the
corporate environment. It has provided proper platform for applying the theoretical
knowledge in practical work, in the field and apply the knowledge of classroom lectures
to the real-life situations. Followings are the recommendations to the
college/university:

• College should take initiative and place those students in right place who are
unable to find the internship at right time.
• College should organize internship orientation for the students prior to
internship program.
• Proper inspection of intern student should be made by college in proper time
and in regular manner during the tenure of internship.
• College should also focus to the problem faced by intern student while doing
internship.
• College should encourage students to do intern not only in bank but also in other
fields.
• Arrange lectures and invite guest lecturers to speak about dos and don’ts of
internship period in the Bank.

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REFERENCES

Bhattarai, Y. R. (2016). Effect of credit risk on the performance of Nepalese

commercial banks. NRB Economic Review, 28(1), 41-64.

Collins, M. (2012). Money and Banking in the UK: A History (Vol. 6). Routledge.

Economy, N. (2008). NEPAL RASTRA BANK. Occasional Paper, (20).

Gautam R., Gurung R., Pokharel J., Kandel R., & Sigdel S. (2014), Foundations of

Financial Institutions and Markets. Kathmandu: Ayam Publication.

Manandhar, K.D. & Pokharel, S.B. (2012), Marketing Financial Services.Kathmandu:

Buddha Publication.

Website

https://www.investopaper.com/

https://www.nrb.org.np/

https://www.nicasiabank.com/

https://www.wikipedia.org/

https://blog.khalti.com/fintech-trends/brief-history-of-banking-in-nepal/

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