Internship at nepal rastra bank ( nrb )

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Uniglobe College, Pokhara University, Kathmandu, Nepal
MBA- V Trimester

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Internship at nepal rastra bank ( nrb )

  1. 1. PRESENTATION ON INTERNSHIP REPORT NEPAL RASTRA BANK PRESENTED BY: PAWAN KAWAN MBA - V TRIMESTER, Pokhara University UNIGLOBE COLLEGE
  2. 2. CHAPTER I: ORGANIZATIONAL PROFILE
  3. 3. Central Bank   A central bank is a public institution that manages a state’s currency, money supply, and interest rates. The primary function of a central bank is to manage the nation's money supply, through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.
  4. 4. Nepal Rastra Bank     NRB, the central bank of Nepal, established in 1956 under the Nepal Rastra Bank Act 1955. It has seven offices located at Biratnagar, Janakpur, Birgunj, Pokhara, Siddharthanagar, Nepalgunj and Dhangadi. It supervises the financial institutions in Nepal and formulate monetary policy. Nepal Rastra Bank also oversees foreign exchange rates and the country’s foreign exchange reserve.
  5. 5. Vision To become “A modern, dynamic, credible and effective Central Bank”  Mission To maintain macro-economic stability through sound and effective monetary, foreign exchange and financial sector policies. 
  6. 6. Lists of governors of NRB since its inception S.N. Name of Governor Term of office 1. Mr. Himalaya Shumsher J.B. Rana April 26, 1956 – February 7, 1961 2. Mr. Laxmi Nath Gautam February 8, l961 – June 17, l965 3. Mr. Pradyuma Lal Rajbhandari June l8, l965 – August 13, l966 4. Dr. Bhekh Bahadur Thapa August 14, l966 – July 26, l967 5. Dr. Yadav Prasad Pant April 24, l968 – April 28, l973 6. Mr. Kul Shekhar Sharma April 29, l973 – December 12, l978 7. Mr. Kalyana Bikram Adhikary June 13, l979 – December 8, l984 8. Mr. Ganesh Bahadur Thapa March 25, l985 – May 22, l990 9. Mr. Hari Shankar Tripathi August 10, l990 – January 17, l995 10. Mr. Satyendra Pyara Shrestha January l8, l995 – January l7, 2000 11. Dr. Tilak Bahadur Rawal January l8, 2000 - January l7, 2005 12. Mr. Deependra Purush Dhakal August 29, 2000 – April 27, 2001 13. Mr. Bijaya Nath Bhattarai January 31, 2005 –January 30, 2010 14. Mr. Deependra Bahadur Kshetry January 15, 2009 – July 26, 2009 15. Dr. Yuba Raj Khatiwada March 22, 2010 – Present
  7. 7. Major Markets and Customers     Government of Nepal Banks and Financial Institutions Corporations or the firms Investors
  8. 8. List of Banks and Financial Institutions, As of Mid October, 2013(NRB) Commercial Development Finance Micro- Saving Banks Banks Companies finance & NGOs (Financial Credit Intermediaries) Development Cooperatives Banks Limited Banking Activities) 31 87 59 35 15 31
  9. 9. Growth of BFIs
  10. 10. Products and Services Products:  Treasury Bills (T-Bills)  Repo and Reverse Repo  Outright Purchase/Sell  Bank Rate  Standing Liquid Facility (SLF)  Treasury Bonds like Development Bonds, Special Bonds, National Saving Bonds, and Citizen Saving Bonds.  Loans against Treasury Securities
  11. 11. Services Provided By NRB        Bank of Note Issue Banker, Agent and Adviser to the Government Bankers' Bank Lender of Last Resort Clearing Agent Credit control Collection of Data
  12. 12. Organization Design and Structure Board of Directors S.N Members Name Position 1. Governor Dr. Yuba Raj Khatiwada Chairperson 2. Secretary, Ministry of Finance Mr. Shanta Raj Subedi Member 3. Two Deputy Governors 1. Member Mr. Gopal Prasad Kaphle 2. Mr. Maha Prasad Adhikari 4. Three Directors appointed by the Government of Nepal from amongst the persons renowned in the fields of Economic, Monitory, Banking, Finance and Commercial Law 1. Dr. Sri Ram Poudyal 2. Dr. Ramhari Aryal 3. Mr. Bal Krishna Man Singh Member
  13. 13. Organizational structure of Nepal Rastra Bank
  14. 14. Financial Structure   Total assets in the fiscal year 2068 and 2069 is 320,811,794,892 and 453,847,106,065 and total liabilities and equity in the fiscal year 2068 and 2069 is 320,811,794,892 and 453,847,106,065. The total profit for the year 2068 is 7,146,944,785 and in 2069 are 37,748,073,230.
  15. 15. Organizational Performance         Issuance of monetary policies Issuance of notes Controlling other financial institutions Debt manager of the government Economic advisory to the government Lender of the Last Resort (LOLR) Foreign currency exchange Enhance payment and clearing system
  16. 16. CHAPTER II: JOB PROFILE AND ACTIVITIES PERFORMED
  17. 17. Activities Performed In The Organization Durations: S.N Job Title Section weeks 1 General Ledger Reconciliation 3 2 Pay Order Reconciliation 6 3 Pension Pension 3 Total Durations 12
  18. 18. Sections in FMD Internal Administrative Section Reconciliation section Pension Section FMD Balance Sheet Section Salary Section Retirement Fund Section Bill Section
  19. 19. OLYMPIC BANKING SYSTEM   The Finance Department of Nepal Rastra Bank uses OLYPIC Banking Software to carry out day to day financial activities from Baisakh 2070. The OLYMPIC Banking System is one of the most comprehensive and modern solutions to support all aspects of modern and sophisticated private banking.
  20. 20. Gateway for OLYMPIC Banking System The address of the system is http://192.168.160.21:9081/PROD/Olympic.do. And the old code for the Departments is listed below: Old General Account Code Place Old General Account code FMD 1100000-038-000-524 KBO 1200000-038-000-524 CMD 1300000-038-000-524 BRT 1500000-038-000-524 JNP 1600000-038-000-524 BRG 1700000-038-000-524 PKR 1800000-038-000-524 SID 1900000-038-000-524 NEP 2100000-038-000-524 DHN 2200000-038-000-524
  21. 21. New Code for G.L Posting Place New Code for G.L Posting FMD 1109901-011-000-524 KBO 1209901-011-000-524 CMD 1309901-011-000-524 BRT 1509901-011-000-524 JNP 1609901-011-000-524 BRG 1709901-011-000-524 PKR 1809901-011-000-524 SID 1909901-011-000-524 NEP 2109901-011-000-524 DHN 2209901-011-000-524
  22. 22. Pay Order  A bank pay order is a document that gives instructions to a bank to give out or pay some specified amount of cash to a third party. Such orders are generally recognized by the bank which guarantees that the payment will be made.  The Code for Pay order is 1100000-014-000-524
  23. 23. Steps to reconcile the Pay Order           Go to http://192.168.160.21:9081/PROD/Olympic.do Click Equity Click Client Type pay order code: 1100000-014-000-524 Click Ok Account Movements found Right click on Account Bank reconciliation (Status option) Click unreconciled movements Match debit and credit items.
  24. 24. Activities performed at Reconciliation Section    Using Olympic Banking System for reconciliation. Matching debit and credit items. Whenever the debit item is not matched with existing credit item then it is informed to Supervisor.
  25. 25. Activities performed at Reconciliation Section Cont…    Visited the Bill Section and Salary Section for finding the pay order which is not matched with debit items. Teach the new Intern about the reconciliation process and other problem solving technique. Making the letter to different section whenever the credit item was not found in the system.
  26. 26. Activities Perform at Pension Section      A pension is a contract for a fixed sum to be paid regularly to a person who get retirement from service. At present there are 2214 persons who take pension at Nepal Rastra Bank. 70 years and more = 10 % more pension 80 years and more = 20% more pension Calculation: Pension =
  27. 27. Activities Perform at Pension Section Cont…      Recording the increased pension of 2068 and 2070 in the pension book manually. Corrected the record whenever the past records are incorrect. Sometime the total pension in the book was not matched with the present pension sheet, then that must be corrected. Employees age above 70 are given 10% more pension and 20% more to age above 80 but these amount must be separately given and should not recorded with present pension. Thus Internee found out and corrected different such cases where 10% and 20% pension are added to pension. Incorrect transaction are recorded in separate sheet and provided to supervisor.
  28. 28. Problem Solved       During reconciliation, sometime debit item does not matched with credit item then such transaction must be inform to supervisor. When debit item did not match with credit item during reconciliation then Internee visited Bill Section and Salary Section for finding the credit item. If there are many items that are not matched then letter must be typed and sent to concern section to solve the problem. Record regarding increase pension are not recorded in pension book since 2068, thus Internee recorded all those records. Internee found out and corrected different cases regarding 10% and 20% more pension added to net pension which should not be added. Incorrect and hard problem are recorded in separate sheet and provided to concern supervisor.
  29. 29. Intern’s Key Observation          The electronic equipments like computer and its peripherals were mostly out of proper working conditions. There is proper coordination between the staffs. No proper managed infrastructure. Staffs have problems with computers and its applications. The working system of the department is systematic and rigid. The concept of transfer, rotation and promotion of employees cause several problems. All employees must do attendance through electronically which avoids staffs delay in bank. There are four employees Unions at NRB to protect the right of employees. All staffs are polite and kind to the interns.
  30. 30. CHAPTER III: LESSON LEARNT AND FEEDBACK
  31. 31. Key Skills and Attitudes Learnt Communication Skills Teamwork Skills Computer & Technical Skills Initiative Interpersonal Skills Problem-Solving Skills Analytical Skills Flexibility / Adaptability Organizational Skills Leadership Skills Self-Confidence Self – Motivation
  32. 32. Feedback to Organization      New and effective means of technology should be used for providing service to the customer. Re-structure and re-organize the job and responsibilities so that there is efficiency in job completion. Proper maintenance of computers and other devices should be ensured timely for effectiveness. Staffs should be familiar with IT and technologies. Staffs should be provided adequate training on use of computers and other devices.
  33. 33. Feedback to College/University       The college/university should prepare a fixed framework of internship activities to be carried out by students during internship. College should send the supervisor to the organization before, after and during the internship program. The interaction class must be provided by the college at every weekend. MBA students and BBA students did the same level of work during the internship period, so college should refer to the organization to give the task to the interns according to their qualification. College should be in touch with the organization where students did their internship so that the college can get timely feedback about the intern. The internship program should be kept on the last trimester which gives chance to get the job within the same organization of internship.
  34. 34. With Assistant Director Mr. Bilash Chandra Rai
  35. 35. Special Thanks to:  Prof Dr. Radhe Shyam Pradhan  Program Director Mr. Dipkar Thapa  Act. Director Mr. Naresh Shakya  Deputy Director Mr. Bijaya kumar Shrestha  Deputy Director Mr. Kishor Kumar Dhakal  Assistant Director Mr. Bilash Chandra Rai  Judges and Friends…
  36. 36. THANK YOU

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