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REMITTANCE & CLEARING SERVICES IN NEPAL BANK LIMITED CITY OFFICE POKHARA

Presented by: Binod Sapkota Exam Roll No: 3162-2006 TU Regd. No: 7-2-297-184-2006

INTRODUCTION
Nepal Bank Limited, The first bank of Nepal was established in November 15, 1937 A.D (Kartik, 30, 1994 B.S).
NBL's authorized capital was Rs. 10 million & issued capital Rs. 2.5 million of which paid-up capital was Rs. 842 thousand with 10 shareholders.

Among 109 branches of NBL, 77 branches have already been computerized and also started ABB system in 44 branches.

SHAREHOLDING COMPOSITION OF NBL


S.N 1 2 3 4 5 6 OWNERSHIP PERCENT

Government of Nepal 'A' Class Financial Institutions

40.49 4.92

NRB Licensed Financial Institutions


Other Institutions General Public Others Total

3.42
0.52 49.94 0.71 100

Source: Nepal Bank Limited Annual Report

OBJECTIVES OF THE STUDY


To develop the conceptual and analytical knowledge about the financial institution i.e. Nepal Bank Limited its functioning.
To learn about Remittance and Clearing Departments Functioning, activities, practices and policies. To examine the customer nature and bank relation.

To develop the level of confidentiality, competition and performance in order to compete in this competitive world.

METHODOLOGY OF STUDY
Interaction with personnel.
Placing queries with the every departmental head. Getting involvement on the job.

Interaction with the customers who were there for banking services.

LIMITATION OF THE STUDY


The 8 weeks of internship is not sufficient to know all the activities of the organization and its functioning.
The banks policy in keeping some matters confidential prevented me from analyzing the various critical facts and issues. Due to my limited knowledge and lack of previous experience in Banking, some obstacles were faced during the internship.

ACTIVITIES PERFORMED IN NBL


S.N Department (Activities)
Customer services department (CSD)
Management Service Department (MSD)

Duration (Weeks)

1
2

2
3

Credit Department

Cash Department

REMITTANCE
Simply Remittances are transfer of money by foreign workers to their home countries. The funds use to be transfer through formal banking channels as drafts, travelers cheques, swifts, fax, telegraphic transfer etc are Remittance. Mainly the remittance in Nepal from Gulf countries comes through Exchange Houses, Western Union Money Transfer, Prabhu Money Transfer, IME, Money Gram, Himal Remit, and Nabil Speed Remit. Parties involved in Remittance must be: Remitter, Remitting Beneficiary. Bank, Paying bank, and

REMITTANCE IN NBL
Having a large network inside the country and correspondence relationship with the banks around the world, NBL could have top large portion of remittance business in Nepal. NBL is presently receiving around USD 1.45 million per month as remittance from Gulf countries and Malaysia. The Modes and Instruments of Remittance used in NBL: -Inward Remittances -Outward Remittance

CLEARING
Clearing system is an effective system of banking organizations which makes easier to clear the inter bank transactions scientifically and systematically within a local area.

Clearing Department is the part of Bills and Remittance department of the NBL which is responsible for the settlement of the cheque and drafts which are collected from the customers while depositing in their accounts.

PROCEDURE INVOLVED IN CLEARING THE CHEQUES IN NBL


Customer should open an account

Local cheques are deposited by customers in Bills and Remittance Department.


Cheques are sent to clearing House and respective cheque are given to payable bank. Payable bank verifies cheques and qualified cheques are debited by crediting NRB Qualified cheques amounts are debited with their respective accounts. At this stage, cheques are cleared actually.

SUMMARY AND CONCLUSION


SUMMARY

NBL has large branch network in 65 district with 109 branches having 44 computerized branches. NBL has been a hallmark not only in the business industry but also in the economy as a whole.

CONCLUSION
As work in the Remittance department, I have build my strong customer relation capacity. Nepalese Commercial banks has enough opportunities to invest in productive sector & its internal growth. I have gained knowledge about clearing house functioning and NBLs clearing process.

Thank you !

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