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1
CHAPTER I
INTRODUCTION
1.1 BACKGROUND
Bachelor in Business Administration (BBA) is the semester wise academic program
designed for management students to provide comprehensive and practical education.
BBA Program in DAV College is under the affiliation of Faculty of Management
(FOM), Tribhuvan University (TU). It is a full fledged learning program of eight
semesters (One hundred and twenty Credit hours) meeting the international standards
of four years and constituting general business courses and advanced courses for
specific concentrations.
BBA program of Tribhuvan University requires internship of minimum eight weeks.
The reason behind including Internship in the final semester is to give practical
exposure to the students. Internship is the form of applied knowledge that enhances
the individual’s ability and confidence level to compete in the dynamic and global
business world. It is also one of the pertinent ways to grasp the opportunity through
exposure to the internal as well as external environment of the organization. It is just
like a training section in which one gets familiarity with the corporate culture and gain
practicability.
Moreover, Students can use the knowledge acquired in the previous semesters and
perform efficiently in completion of the assigned tasks in the workplace. It assists in
improving the interpersonal and communication skills required to sustain in the
competitive business environment. It enhances fresher's confidence level to compete
in this complex age and level of understanding. It increases the ability of the students
to tackle the business problems to grasp the opportunity and to face threats.
Thus, internship is career enhancing program and is aimed at developing the level of
understanding and competence required to be a professional.
2
1.2 OBJECTIVES
As discussed earlier the focal point of the Internship program is to make the students
participate in the real life organizational setting and provide the opportunity to apply
the knowledge and skills they have learnt during entire study. The objectives of my
study are listed below
i. To learn about the functioning of Customer Service Department.
ii. To observe the workflow process of Human Resource Planning and Promotion
Department.
iii. To acquire knowledge about the recruitment and selection procedure of SrBL
iv. To identify how Human Resource Development takes place.
v. To be familiar with various types of orientation and trainings given to the staffs
1.3 METHODOLOGY
This report has been prepared on the basis of a eight weeks internship experience at
Sunrise Bank Limited, Gairidhara. For the preparation of this Internship report, the
secondary sources have been used. The secondary information was mainly collected
from the Quarterly Reports of the bank, booklets, newspapers, published documents
and various websites. Apart from that few books, websites and previous internship
reports have been referred to get a detailed overview of the format as well as materials
and information
1.3.1 Organizational selection
Being a banking and finance specialized student, I was required to do my internship in
any financial institution. Among all the financial institutions, commercial banks were
more preferable as they are large, reputed and had more scope. So I made up my mind
to select commercial bank rather than going for finance companies, co-operatives and
other types of organization. For the organization selection, I assessed various banks
and found Sunrise Bank Limited as a new and emerging bank. I was recommended by
my teachers to join Sunrise Bank Limited.
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By joining Sunrise Bank, I believed I could know a lot about the functioning of the
bank and the various strategies that bank follows for the success of the organization.
So, I finally took a decision to choose Sunrise Bank Limited for my internship.
Accordingly, I dropped the College Recommendation Letter along with Curriculum
Vitae in the Head Office of Sunrise Bank. After regular follow ups, I was finally
appointed as an intern in the Main Branch of Sunrise Bank Limited on 27th April
2009.
1.3.2 Placement
During my internship period in Sunrise Bank Limited, I was mainly placed in two
departments. I got the opportunity to work in the Main Branch and the Head Office
located at Gairidhara. I was placed in the Customer Service Department of Main
Branch, and Human Resource Planning and Promotion Department of Head Office.
However, my report is focused on Human Resource Planning and Development
Department where I was placed for the most part of my internship period.
1.3.3 Duration
The requirement of internship period for BBA students affiliated to Tribhuvan
University is minimum eight weeks. So, with a view to fulfill this requirement, I was
engaged as an intern for the period of eight weeks i.e. from 26th April 2009 to 26th
June 2009 at Sunrise Bank Limited, Gairidhara. During my internship period, I was
placed in different departments to gain adequate knowledge and helped develop my
banking and interpersonal skills in the limited time
Department Week
1st 2nd 3rd 4th 5th 6th 7th 8th
Business Desk ♦♦ ♦
IPO ♦
Human Resource Planning and Promotion Department ♦ ♦ ♦ ♦ ♦ ♦
Table 1.1: Duration of Internship
4
1.3.4 Activities
When I joined Sunrise Bank Limited as an Intern, I was appointed mainly in
Customer Service Department (CSD) and Human Resource Planning and Promotion
Department.. Brief overview of the respective department was given to me before
assigning me the tasks. I observed how the staffs carry out their activities and
developed a clear understanding. During my internship period Sunrise Bank Limited
was in the process of issuing shares to the general public (IPO). I got an opportunity
to get involved in IPO related activities as well. I came to know how IPO is
conducted by any commercial bank.
Following are the major activities that I could perform as an intern in Sunrise Bank
Limited.
Department Activities Performed
Customer Service Department Manual entry in the ledger Filing of the documents Filling KYC form Assisting customers in filling their forms Answering queries of the customers Cheque book preparation Providing cheque books to the customers
upon their request Giving statement to the clients verifying
their signature and account number Scanning photos and signatures of the
customers for future verificationIPO (Initial Public Offering) Distributing the share application forms to
the customers Verifying the forms submitted by the
customers Entering the forms in the computer
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Department Activities Performed
Human Resource Planning and Development Department (HRPDD)
Keeping entries of the drop in Curriculum Vitae (CV) giving them respective codes
Filing the documents in their respective cabinets
Maintaining attendance record of all the branches
Entering the TNA (Training Need Assessment Forms)
Creating files of new employees and filing their documents for future use.
Preparing interview charts. Giving the phone calls to the selected
applicants for the interview Preparing separate files for each panel of
the judges to evaluate the candidates To calculate the marks obtained by the
candidates and make a call to the selected ones for next level interview.
1.4 LIMITATIONS
1. This report is mainly based on my individual understanding and knowledge
gained during the internship period and theoretical knowledge that has been
previously studied.
2. The bank’s policy in keeping some matters confidential prevented me from
analyzing the various critical facts and issues i.e. mostly in Human Resource
Planning and Development Department.
3. As I had work only in some particular departments only, I could not witness and
scrutinize the overall operations of the Bank.
However, I have tried my level best to gain adequate knowledge of banking and the
corporate culture and sincerely perform the tasks I was assigned by my supervisors.
The whole experience was an excellent learning opportunity as well as an exciting
challenge.
6
CHAPTER II
INTRODUCTION TO BANKING INDUSTRY
2.1 CONCEPT OF BANK
The term ‘bank’ is derived from the Latin Word ‘bancus’, Italian word ‘banca’,
French word ‘banque’, which means ‘a bench’ and German word ‘bank’ which
means Joint Stock Company. Bank is a financial institution engaged in monetary
transaction. It accepts deposits from surplus units and mobilizes those funds to the
deficit unit. In other words, it receives deposits from those having savings and lends it
to the ones who are in need of money for some purpose. Besides this, a bank is also
involved in a number of other agency services like remitting and collecting cash on
behalf of its clients, opening bank draft and LC facilities, underwriting shares of
newly established companies etc.
Bank acts as the financial intermediary i.e. it bridges the gap between the savers of the
fund and users of the fund. Banking system of any country is the important
component of the financial market. Without bank, it would be quite impossible for the
industrialists and entrepreneurs to collect savings directly from general for
investments.
Bank, a financial service institution, especially concentrates on credit, savings and
payment services and performs the widest range of financial functions of any business
firm in the economy. Its major function is to formulate the capital by collecting the
small diversified savings scattered all over the nation. A typical modern bank
performs various functions like accepting deposits, granting loans, exchange of
foreign currency, transfer of funds, credit creation, and functioning as an agent of
customer.
Bank has become an essential part of modern society, which helps in the development
of overall condition of a country. Efficient banking system of any nation fosters its
economy as well.
7
In the absence and insufficiency of banking and financial facilities, the growth of the
economic development becomes slow.
Some of the definitions of banks by scholars
Different scholars have defined bank in different ways. Some of the definitions are
given below:
According to Crowther
“Bank is an institution which collects money from those who have it to spare and who
are saving it out of their income and lends this money out to those who require it.”
According to Prof. Kinley
“ Bank is an establishment, which wakes to individuals such as advances of money as
may be required and safety made to and to which individuals entrust money when and
required by them for use.”
Other Definitions of Bank
Some other definitions of bank are given below.
According to Nepal Rastra Bank Act 2002
“Bank is a financial institution which provides financial services that may be in the
form of accepting deposits, advancing loans, providing necessary technical advices,
dealing over foreign currencies, remitting funds, etc.”
According to Commercial Bank Act of 2031 (Nepal)
“Bank is an organization established for the purpose of exchange money deposit
lending money and participation in transactions”
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2.2 HISTORY AND ORIGIN OF BANK:
The history of banking is nearly as old as civilization. It is closely related to the
history of money. Along with the civilization, unceasing demand for the
improvements in service quality and the increasing need and expectations of
customers, it has gone through transformation.
The banking industry that we have at present is the outcome of a series of stepwise
developments that have occurred in the process of its evolution. The early bankers,
the Jews in Lambardy, 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 early bankers are the Lombard's who were originally from the plains of
Lombardy of Northern Italy. After the Lombards, the goldsmiths practiced banking as
a sideline to their normal activities in the bullion and jewelers fields. They introduced
banking practice in England. The very first banks were probably the religious
temples of the ancient world where gold were stored.
In ancient Greece the famous temples of Delphi and Olympia served as the great
depositories for peoples’ surplus funds and these were the centers of money lending
transaction. Indeed the traces of “rudimental banking” were found in the Chaldean,
Egyptian and Phoenician history. The development of banking in ancient Rome
roughly followed the Greece pattern.
Banking suffered oblivion after the fall of the Roman Empire after the death of
Emperor Justinian in 565 A.D. until the revival of trade and commerce in the middle
Ages. Money lending in the middle ages was, however, largely confined to the Jews
since the Christians were forbidden by Canon law to indulge in the sinful act of
lending money to others on interest.
In England, banking and its origin can be started with goldsmith who adept the
valuable thing of the public for the safe keeping at certain commission (interest) and
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to be returned to those, the depositor wished. According to Crowther, modern
Banking has three ancestors- The Merchant, The Goldsmith and The Money Lender.
As a public enterprise, banking made its first beginning around the twelfth century in
Italy and the “Bank of Venice”, founded in 1175 A.D. was the first the public
banking institution. Following it, “Bank of Barcelona” and “Bank of Genoa” were
established and it continued to operate in 1401 A.D. and 1407 A.D. respectively.
These modern bank gradually replaced goldsmith, merchant and money lender.
“Bank of England” in 1694 A.D and “Bank of Hindustan” in 1770 A.D. were
established in England and India respectively as the first bank of it. But these banks
were not established according to the law.
In 1833 A.D., Banking Act-1833 was introduced in United Kingdom which allowed
opening joint stock company banks. With the expansion of commercial activities in
Northern Europe there sprang up a number of private banking houses in Europe and
slowly it spread throughout the world.
2.3 ORIGIN OF BANK IN NEPAL
Financial system in Nepal is still in the revolutionary phase. The history of banking in
Nepal can be described as a component of gradual and ordinary development in the
financial and economic condition. The establishment of “Kausi Toshi Khana” as a
banking agency during the time of King Prithvi Narayan Shah and “Tejarath Adda”
can be regarded as the initial steps in the direction of start of banking development in
Nepal. In the context of Nepal, the development of banks can be summarized in three
phases:
Phase I
Phase II
Phase III
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Phase I:
The establishment of ‘Tejarath Adda’ during the Tenure of Prime Minister Ranoddip
Singh in 1933 B.S. (1876A.D) was the first step towards the institutional development
of banking in Nepal. It was an unorganized institutions subscribed and established by
government in Nepal with the objective to provide credit facilities to general public.
Credit loans were provided to the general public at 5% interest rate on securities i.e.
gold, silver and other ornaments. It failed to accept deposits from them. Though it
could mobilize funds from wide range of different sources, it was not able to facilitate
the growing trades with Tibet and India. Thus a need for the establishment of a
modern bank had become essential to promote the trade of the nation.
Phase II:
During the time of Chandra Shamsher (1901-1929), credit facilities of ‘Tejarath’ were
extended by opening its branches. Later during the time of Juddha Shamsher in B.S.
1994.07.30, it was replaced by the first commercial bank, Nepal Bank Limited with
an authorized capital of 10 million rupees. After that Nepal Rastra Bank was
established on B.S 2013.01.14 as the central bank under the Nepal Rastra Bank Act
2012. Its function was to supervise commercial banks and to guide the basic monetary
policy of the nation. In 2013 B.S, Industrial Development Center was established and
later it was converted into Nepal Industrial Development Corporation (NIDC) in 2016
B.S. As the monetary transaction got more and more complicated on 2022.10.10,
Rastriya Banijya Bank was established as a fully government owned commercial
bank. Agricultural bank was then established on 2024.10.07 to help the agricultural
side of the country.
There were altogether five banks in Phase II. (Source: Annex 1)
Phase III:
“Commercial Bank Act 2031” was enacted to operate all commercial banks uniformly
under single act. Nepal Commercial Bank Act 2031 defines commercial banks as the
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banks that deal with money exchange, accepting deposits, advancing loans and other
commercial transactions except some special functions done by specified cooperative,
agriculture and industrial banks. In 2041 B.S. Nepal Government established five
rural development banks under the control and supervision of Nepal Rastra Bank. The
establishment of these banks helped in spreading the banking services to both urban
and rural areas but banking service to the customer satisfaction was still far.
After the reestablishment of democracy, the government has taken liberal policy in
banking sector so different private banks are getting permission to establish with the
joint venture of other countries. Nabil is the First Joint Venture Bank as Nepal Arab
Bank. Similarly, three foreign commercial banks Emirates Bank International Limited
(Dubai), Indosuez, and Grind lays Bank entered Nepal in the form of joint venture and
the trend is continuing till today.
2.4 PRESENT SCENARIO OF BANKING SECTOR IN NEPAL
The Nepalese financial sector is composed of banking sector and non-banking sector.
Banking sector comprises Nepal Rastra Bank (NRB) and commercial banks. The non-
banking sector includes development banks, micro development bank, finance
companies, cooperative financial institutions, non-government organization (NGO)
performing limited banking activities. Other financial institution comprise of
insurance companies, employee’s provident fund, citizen investment trust, postal
saving offices and Nepal stock exchange. There is tremendous growth in the number
of financial institution in Nepal in the last two decades. At the beginning of 1980s
when financial sector was not liberalized, there were only two commercial banks and
two development banks performing banking activities in Nepal. There were no micro-
credit development banks, finance companies, cooperatives and NGOs with limited
banking transactions. After the liberalization of the financial sector, financial sector
has made a hallmark progress both in terms of the number of financial institutions and
beneficiaries of financial services.
12
Today, there are altogether 26 commercial banks (Source: Annex 1) in Nepal. Out of
them 9 is joint venture with foreign bank. With the increasing number of commercial
banks, competition among themselves has also become more complex. In today’s
dynamic environment, the commercial banks are trying to introduce and establish
themselves differently from other banks by providing special services and attractive
schemes to its customers. Besides commercial banks, development banks are also
improving their performance in Nepalese banking industry and they also play an
important role in the growth of country’s economic position.
The present scenario of the Nepalese financial market can be viewed as:
S.No Financial Institution No. of Institutions
1. Central Bank 1
2. Commercial Bank 26
3. Development Bank 61
4. Finance Companies 78
5. Micro-credit Dev. Banks 13
6. Cooperatives 16
7. NGOs 45
8. Insurance Companies
Table 2.1 Lists of Financial Institution in Nepalese Market
As On Mid April 2009
2.5 COMMERCIAL BANKING SYSTEM IN NEPAL
According to the Commercial Bank Act 2031, "Commercial banks are the banks that
deal with money exchange, accepting deposits, advancing loans and other commercial
transactions except some special functions done by specified cooperative, agriculture
and industrial banks." The commercial bank is the oldest form of bank. In general, it
performs all kinds of banking business and generally finances trade and commerce is
called commercial bank.
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It occupies quite an important place in the framework of every economy. Commercial
bank pools together the scattered savings of the community and arranges for their
productive use and generates profit.
In the context of Nepal, the first commercial bank, "Nepal Bank Limited" was
established in 1937 A.D. and the second "Rastriya Banijya Bank" was established in
1966 A.D. Nepal has opened its door to foreign commercial banks in the kingdom
almost a decade back. As the country followed economic liberalization, there was
massive entrance of foreign banks in Nepal. Consequently, Nepal Arab Bank was
established in 1985 A.D. Similarly the Nepal Indosuez Bank was established as a joint
venture between Nepal and France in 1986 A.D. As the result of economic
liberalization policy there are 26 commercial banks operating banking activities in the
country. (Source: Annex 2)
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CHAPTER III
INTRODUCTION TO SUNRISE BANK LIMITED
3.1 BRIEF PROFILE
With the motto of "Rising to Serve", Sunrise Bank Limited was established in
November 7, 2007 (Kartik 21, 2064) as an "A" class institution licensed by Nepal
Rastra Bank (NRB). It is one of the emerging yet quickly progressing banks. It is
founded by reputed entrepreneurs and started its service in the Banking sector with a
sizeable capital base under the leadership of its C.E.O., Mr. Kishore Maharjan. It
understands the need of growing economy and is well equipped to serve them. Their
team of professionals has dedicated themselves to establishing an institution
determined to cater to the needs of all either big or small. By adopting an aggressive
approach of expanding dynamically, Sunrise Bank Limited intends to become an
integral part of everyone's way of living.
3.2 VISION
To become a dominant player in the Nepalese Banking Industry by the year 2012
A.D.
3.3 MISSION
Continuous Offering of tailor made banking services to all levels of society, with no
constraint on time, location, size of transaction and all aspirations.
3.4 OBJECTIVES
To continuously expand Bank's operation in systematic manner. To become a major innovative Bank and provide top of the line services. To build an HR team that continuously supplements the growth of the
organization. To be vigilant to the evolving economy and align our operations accordingly.
3.5 CAPITAL STRUCTURE
15
The ownership structure of Sunrise Bank Limited is given as follows:
Authorized Capital Rs. 5000 m
Paid-up Capital Rs. 875 m
IPO Rs. 375 m
F
Figure 3.1: Capital structure of Sunrise Bank Limited
3.6 ORGANIZATION STRUCTURE
An organizational structure is a mostly hierarchical concept of subordination of
entities that collaborate and contribute to serve one common aim. Like any other
bank, the Board of Directors constitutes the top level management of SrBL. The head
of management is the C.E.O., Mr. Kishore Maharjan, and the remaining staff operates
the bank under his leadership. (Source: Annex 3)
3.6.1 Board of Directors
16
A board of directors is a body of elected or appointed members who jointly oversee
the activities of a company or organization. The body sometimes has a different name,
such as board of trustees, board of governors, board of managers, or executive board.
It is often simply referred to as "the board." Board of Directors of SrBL comprises of
following.
Name Designation
Mr. Tolaram Dugar Chairman
Mr. Shrawan Goyal Director
Er. Bachh Raj Tater Director
Mr. Motilal Dugar Director
Dr. Bhogendra Guragain Director
Mr. Shreeniwas Sharada Director
Table 3.1: Board of Directors
3.6.2 Management Team
A management team is directly responsible for managing the day-to-day operations
(and profitability) of a company. Sunrise Bank Limited comprises of team of
professionals as management team.
Name Designation
Mr. Kishore Maharjan Chief Executive Officer
Mr. Suman Neupane General Manager
Ms. Asha Adhikary Assistant General Manager- Business Planning
Mr. Bala Ram Bista Assistant General Manager – Business Support
Ms. Neeta Pradhan Joshi Assistant General Manager – Business Management
Mr. Janardan Dev Pant Chief Manager
Table 3.2: Management Team
3.6.3 Audit Committee
17
The audit committee of the Bank has its own Charter duly approved
by the Board. All functions of the Audit committee are governed by
the provisions of the Charter companies Act 2063 and NRB
Directives no. 6. The Audit Committee currently comprises four
Directors and an internal auditor and is chaired by company director
Mr. Moti Lal Dugar. The details of the composition of the committee
are set out in the following table.
Name Designation
Mr. Motilal Dugar Chairman
Dr. Bhogendra Guragain Member
Er. Bachh Raj Tater Member
Mr. Shrawan Goyal Member
CSC & Co, Chartered Accountants, Internal Auditor Member
Mr. Bidya K. Adhikari Secretary
Table 3.3: Audit Committee
3.6.4 Various Departments of Sunrise Bank Limited
As we can see in the organization chart, bank performs its activities with the proper
coordination and integration between many departments. Each department of SrBL
looks after their own area of activities in order to achieve the Bank’s objectives. The
major departments are listed bellows.
1. Customer Service Department (CSD)
It is also known as the Business Desk. It is the place where the customer initially
interacts with the bank. It provides the services like account opening and closing,
providing account statement, Customer counseling, giving out information and
addressing varied request of the customers.
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2. Cash Department
The Cash Department of SrBL facilitates the deposit and withdrawal of cash. Its
main function is to manage the inflow and outflow of money in the bank. The
customer can deposit by filling up the deposit slip and withdrawal can be made
through cheque or withdrawal slip.
3. Bills & Remittance Department (RMT)
This Department looks after the clearing services and facilitates both incoming
and outgoing remittance in the bank. It accepts the cheques for outward clearing
and makes payment for the inward clearing cheques. Likewise, it receives the
incoming remittance on behalf of customer and disburses money through its
agents on the client’s request. Furthermore, this department also looks after the
fixed deposit services.
4. Customer Relations Department (CRD)
CRD has the responsibility of representing the Bank in the market. Its major
function is to market the Bank’s products to its targeted customers. The
Relationship Managers interact with the customers, initiate, process and approve
the facilities, and also are liable to get the necessary document from the customers
as per the approved credit facility.
5. Credit Control Department (CCD)
The main function of this department is to ensure that the credit function can run
smoothly by scrutinizing all the credit proposals. The department analyses various
aspects of the credit proposal and makes sure that the proposal in consideration is
in compliance to the credit policy of the bank as well as NRB Directives.
6. Credit Administration Department (CAD)
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This Department performs the function relating to the documentation,
implementation, and disbursement of the credit facility. Once the loan has been
approved by the lending authority, the responsibility of the department starts. It
has close link with CRD and Legal department and has to prepare and obtain all
the security and legal documents and make sure it is complete and in compliance
with the legal department so that legal actions can be taken in case of
discrepancies or default of the credit facility.
7. Trade Finance Center (TFC)
It collects all the necessary documents from international banking department of
different branches and follows up the process for export & import LC and
different types of bank guarantee. Taking approval from concerned authorities,
preparing SWIFT message, checking document and forwarding it to the concerned
department are TFC’s main tasks.
8. International Banking Department
International Banking Department looks after Letter of Credit (Import and
Export), different types of Bank Guarantee, Import through advance payment,
Cash against Document and Document against Cash.
9. Administration Department
Administration Department looks overall administrative work like coordination
between department, monitoring staff attendance, maintain leave record,
settlement of all expenses, entry of transaction ticket and so on.
10. Legal Department
The main function of Legal Department is to look after the legal matters of the
bank and to make sure that the bank is in the safe side in case of any default. The
department is headed by the person specializing in law, who makes sure all the
activities and the steps that are followed are legal.
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11. Treasury Department
Treasury department maintain foreign exchange rate that is necessary in the
transaction within bank. Any types of fluctuation occur in foreign exchange
should informed in the concerned department immediately so that the bank does
not get loss. Furthermore it concern with foreign bank and maintain nostro
account.
12. Human Resource Department
The main function of this department is recruiting necessary staff, recording
performance evaluation; transfer them in to branches and department, keeping
necessary information related to staff, promoting staff and if necessary lay them
off.
13. General Service Department
General Service Department see whether the office premises is clean or not and to
instruct the cleaners to clean the place properly, arrangement of chairs as per
requirement, see whether there is availability of drinking water or not, see whether
the office equipments work properly or not and so on.
14. Reporting & Reconciliation Department
This department collects all the necessary reports of different branches and
coincide them in order to prepare a single report of the bank. Similarly it checks
daily general ledger, financial trial balance, and daily transaction. Furthermore it
ensures timely reconciliation of Manager’s cheque, Inter branch ticket and other
accounts related transaction with preparation of monthly reconciliation report.
3.7 BRANCH NETWORK
21
Branch network of any bank is the outlet for offering its services to the prospect
customers. Like any other banks, Sunrise Bank limited is also operating with its
branch network. The Corporate office or Head office is situated at Gairidhara. It has
opened 12 branches inside the Kathmandu valley and 11 branches outside the valley.
(Source: Annex 4)
3.8 PRODUCTS AND SERVICES OF SUNRISE BANK LIMITED
1. Deposits
Like any other commercial bank, SrBL accepts deposit from individuals, business
organizations and other institutions. It offers the following product and services to
its customers.
a. Current Deposit:
Current deposit is a type of non-interest bearing deposit in which customer can
make any number of deposits and withdrawals on demand. It is also known as
corporate account.
b. Normal Saving:
SrBL offers Normal Saving account facility to cater to the saving habits of
individuals and households. It can be opened with a minimum balance of
NRs.1000 and currently provides an interest of 6.5%.
c. Super Savings:
Sunrise Super Savings provides interest in daily balance and is targeted to the
customers with a high account turnover in the savings account. The minimum
balance is NRs.10000 and the interest rate varies according to the deposit amount.
d. Bal Bachat Kosh:
22
Sunrise Bal Bachat Kosh is a special type of saving account especially designed
for the children below 16 years of age in order to encourage their saving habits.
e. Fixed/Term Deposit:
Fixed deposit refers to the deposit of fixed amount, at fixed interest rate, on fixed
term and to fixed payee. At maturity the bank repays principle together with
interest or pays interest on regularly but principle only at maturity.
f. Call Deposit:
It is hybrid deposit as it has the characteristics of both the current and saving
deposits. Current in the sense that deposit is with draw able at ‘call’ and saving in
the sense that the deposit earns ‘interest.’
2. Lending
In order to cater to the loan requirements of individuals and organization, SrBL
provides the following products and services.
a. Sunrise Ghar Karja:
Sunrise Bank provides Ghar Karja to individuals for the purpose of constructing
or purchasing homes. The loan can be both for short and long term as per the
requirement duly supported by the customers' income source.
b. Sunrise Sajilo Karja:
It is a flexible loan disbursed for the borrower’s social, personal or business
purposes in order to fulfill all personal and business financial requirements.
c. Sunrise Educational Institute Loan:
This type of loan is provided with a view to promoting educational institutions in
the country and for their daily requirements, expansion plans, etc.
23
d. Term Loan:
It is a long term loan for acquiring fixed assets or an existing project, and is
generally available for acquiring or purchasing machinery, equipment, land and
building. The tenure is based on the project's duration and the estimated/ existing
cash flow.
e. Demand Loan:
Demand loan is provided to help the customer build up the stock and receivables
to a desired level, against which the loan will be disbursed.
f. Sunrise SME Loan:
SME loan is aimed at meeting the financial ambitions of small and medium
businesses. It is disbursed to meet the working capital as well as fixed term
requirement of the applicant.
g. Overdraft Loan:
SrBL offers overdraft loan to finance your daily working capital requirement and
to support your stock build up of the customer.
h. Hire Purchase:
It is the loan provided to finance the purchase of vehicles used for both consumer
and commercial purposes.
i. Import Loan:
24
This type of loan is provided to finance domestic and international trade
transactions through letter of credit. The loan is financed in the form of trust
receipt up to a certain percentage of the total L/C amount.
j. Short term pledge loan:
The loan is offered against the stock after verification of the same. The stock,
however, is kept under lock and key of the Bank and the loan disbursed and
settled in pro rata basis with the stock pledged and sold.
k. Export Finance:
The Bank offers to finance various export requirements such as pre-shipment loan
and post-shipment loan, documents negotiation/documentary bill purchase etc.
l. Others:
The Bank also provides various other loans like Deprived Sector Loans, Loan
against Bank Guarantee, Loan against Government Bonds, Margin Lending, Loan
against Fixed Deposits of other Banks and Consortium Loans.
3. Remittance
Remittance refers to transfer of money from one place to another. SrBL provides
both incoming and outgoing remittance services by means of Demand Drafts,
Swift Transfers, Telex Transfers, Fax Transfers, and Mail Transfers.
4. Trade Finance
Sunrise Bank facilitates the trading activities too. It ensures business safety or
liquidity with financial instruments of guarantee. It is a major player in facilitating
import export activities with modern and efficient Trade Finance and International
Trade support services, to large multinationals as well as established business
conglomerates in the private sector. It includes import and export LC, bank
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guarantee, cash against document, document against cash, Telegraph Transfer and
so on.
5. E-Banking
E-banking is the service provided SrBL by which a customer can perform banking
transactions electronically without visiting the bank. The customer can log on to
the website of SrBL and do various banking transactions from the comfort of their
house or office.
6. Others
Besides the above mentioned products and services, SrBL provides other products
and services like Safe Deposit Locker, Balance Certificate, and Good for Payment
to its customers.
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CHAPTER IV
ANALYSIS OF ACTIVITIES DONE AND PROBLEM
SOLVED
This chapter mainly focuses on the major activities that are performed in Human
Resource Department. Doing internship in Human Resource Planning and
Development Department (HRPDD) was a nice experience. Based on that experience
I could analyze the various functions of HRPDD. Almost every bank is involved in
various functions and thus requires a highly effective team and appropriate manpower
to achieve it goal. Corporate goals are translated into viable realities and profits only
with human element that play their due role in achieving the desired results.
4.1 OVERVIEW
Managing human resource is at the heart of almost all the real-life management
‘problems’. This chapter aims to bring out issues involved in the management of
human resources. Based on internship I have come to understand trends and
perspectives of HR policies and practices in Sunrise Bank Limited. On examination of
human resource at work, I have figured out various aspects which are basics to human
motivation at work and in fulfilling career aspirations within organizations. Over the
last two decades the areas of Human resource management has gone through some
fundamental and drastic changes. Rapid changes in technology, increasing workforce
diversity, increasing skill deficiency and focus on Total Quality Management (TQM)
have altered the face of banking and the shape of things to come in the foreseeable
future before identifying the HR related issues.
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Human resource management has occupied a central position in Sunrise Bank
Limited. In changing business and management environment the strategic importance
of HRM is gradually increasing. Gone are the days when organizations were opened
to provide employment opportunities. Instead organizations of 21st centuries are being
opened to understand and take advantage of environment opportunity and threats.
4.2 HUMAN RESOURCE
Human resources may be defined as the total knowledge, skills, creative abilities,
talents and aptitudes of an organization's workforce, as well as the values, attitudes,
approaches and beliefs of the individuals involved in the affairs of the organization. It
is the sum total or aggregate of inherent abilities, acquired knowledge and skills
represented by the talents and aptitudes of the persons employed in the organization
Human resource is an increasingly broadening term that refers to managing "human
capital," the people of an organization. The human resources are multidimensional in
nature. From the national point of view, human resources may be defined as the
knowledge, skills, creative abilities, talents and aptitudes obtained in the population;
whereas from the viewpoint of the individual enterprise, they represent the total of the
inherent abilities, acquired knowledge and skills as exemplified in the talents and
aptitudes of its employees.
Like many other organized sectors, banking requires multi layer manpower for its
various requirements of professionals and support staff. The range may require
reasonably educated security guards on the one end and a highly educated and trained
professional as head of corporate finance at the other. With liberalization of activities
within the banking sector, for example, more emphasis on consumer and house
finance and personal loans, etc. banking has turned itself into a more market-based
business where banks have expanded their reach more to customers' door steps in a
big way making banking more practical. This has further highlighted the need for
proper deployment of man-power to run banks efficiently.
4.3 HUMAN RESOURCE MANAGEMENT
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4.3.1 Introduction to Human Resource Management
Human Resource Management (HRM) has come to be recognized as an inherent part
of management, which is concerned with the management of human resources of an
organization.
HRM holds the objective of the maintenance of better human relations in the
organization by the development, application and evaluation of policies, procedures
and programs relating to human resources to optimize their contribution towards the
realization of organizational objectives.
In other words, HRM is concerned with getting better results with the collaboration of
people. It is an integral but distinctive part of management, concerned with people at
work and their relationships within the enterprise. HRM helps in attaining maximum
individual development, desirable working relationship between employees and
employers, employees and employees, and effective modeling of human resources as
contrasted with physical resources. It is the recruitment, selection, development,
utilization, compensation and motivation of human resources by the organization.
The Human Resources Management (HRM) function includes a variety of activities,
and key among them is deciding what staffing needs you have and whether to use
independent contractors or hire employees to fill these needs, recruiting and training
the best employees, ensuring they are high performers, dealing with performance
issues, and ensuring your personnel and management practices conform to various
regulations. Activities also include managing your approach to employee benefits and
compensation, employee records and personnel policies.
Hence, Human Resource Management is responsible for the people dimension of the
organization. It is responsible for getting competent people, training them to perform
at high effort level and providing mechanisms to ensure that these employees
maintain their productive affiliation with the organization.
4.3.2 Nature of Human Resource Management
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Human Resource Management is a process of bringing people and organizations
together so that the goals of each are met. The various features of HRM include:
It is pervasive in nature as it is present in all enterprises.
Its focus is on results rather than on rules.
It tries to help employees develop their potential fully.
It encourages employees to give their best to the organization.
It is all about people at work, both as individuals and groups.
It tries to put people on assigned jobs in order to produce good results.
It helps an organization meet its goals in the future by providing for competent
and well-motivated employees.
It tries to build and maintain cordial relations between people working at
various levels in the organization.
It is a multidisciplinary activity, utilizing knowledge and inputs drawn from
psychology, economics, etc.
4.3.3 Objectives of Human Resource Management
We can list out the objectives of Human Resource management as follows:
To ensure effective utilization and maximum development of human
resources.
To ensure respect for human beings.
To ensure reconciliation of individual goals with those of the organization.
To achieve and maintain high morale among employees.
To provide the organization with well-trained and well-motivated employees.
To increase to the fullest the employee's job satisfaction and self-actualization.
To develop and maintain a quality of work life.
To be ethically and socially responsive to the needs of society.
To develop overall personality of each employee in its multidimensional
aspect.
To enhance employee's capabilities to perform the present job.
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To equip the employees with precision and clarity in transaction of business.
To inculcate the sense of team spirit, team work and inter-team collaboration.
4.3.4 Scope of Human Resource Management
The scope of HRM is very wide. It covers following areas.
1. Personnel aspect
This is concerned with manpower planning, recruitment, selection, placement,
transfer, promotion, training and development, layoff and retrenchment,
remuneration, incentives, productivity etc.
2. Welfare aspect
It deals with working conditions and amenities such as canteens, rest and lunch
rooms, housing, transport, medical assistance, education, health and safety,
recreation, facility etc.
3. Industrial relations aspect
This covers union-management relations, joint consultation, collective bargaining,
grievance and disciplinary procedures, settlement of disputes, etc
4.3.5 Belief of Human Resource Management
The Human Resource Management philosophy is based on the following beliefs:
Human resource is the most important asset in the organization and can be
developed and increased to an unlimited extent.
A healthy climate with values of openness, enthusiasm, trust, mutuality and
collaboration is essential for developing human resource.
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HRM can be planned and monitored in ways that are beneficial both to the
individuals and the organization.
Employees feel committed to their work and the organization, if the
organization perpetuates a feeling of belongingness.
Employees feel highly motivated if the organization provides for satisfaction
of their basic and higher level needs and opportunity to discover and use one's
capabilities and potential in one's work.
Employee commitment is increased with the It is every manager's
responsibility to ensure the development and utilization of the capabilities of
subordinates.
4.4 HUMAN RESOURCE PLANNING AND DEVELOPMENT AT
SUNRISE BANK LIMITED
4.4.1 Current position of Human Resource
Prospect of Human resource is very bright in Sunrise with every employee
committing them self in problem solving and taking care of each and every customer
at Sunrise. It has very committed competent, well-trained and appropriately placed
staff. There are altogether 304 staffs working in different departments of various
branches. Human resource at SrBL comprises of team of seasoned banking and
management professionals. It has very dedicated and passionate staffs that are
selected through intensive recruitment, training, suitable placement and appraisal
program. SrBL has recognized human resource as the most important asset in the
organization.
4.4.2 HR Planning and Development Department of Sunrise Bank
Human Resource Planning and Development Department of Sunrise Bank is
responsible for providing support in various human resource functions which include
recruitment, staffing, training and development, performance monitoring , and
employee counseling. It needs to ensure that the bank employs the right balance of
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staff in terms of skills and experience, and that training and development
opportunities are available to employees to enhance their performance in order to
achieve the organization's objectives It even provides advice and assistance to all the
staff members. This may include information on training needs and opportunities, job
descriptions, performance reviews and personnel policies of the Bank. HRPDD
coordinates the staff recruitment process and also assist supervisors and staff selection
committee to ensure that they have accurate and timely information for making
effective decisions. Under Human resource planning and development department
there are certain organized systems.
1. Human Resource Management Information System( HRMIS)
2. HR inventory
3. HR training Inventory
1. Human Resource Management Information System( HRMIS)
Human Resource Management Information System maintains personal and
professional records of all the staffs and updates same on a daily basis. It contains the
details of the staffs. The Human Resource Information System (HRMIS) is a software
or online solution for the data entry, data tracking, and data information needs of the
Human Resources, payroll, management, and accounting functions within a business.
Normally packaged as a data base, hundreds of companies sell some form of HRMIS
and every HRMIS has different capabilities.
The HRMIS at Sunrise Bank effectively serves companies tracks.
attendance,
pay raises and history,
pay grades and positions held,
performance development plans,
training received,
disciplinary action received,
personal employee information, and occasionally,
33
management and key employee succession plans,
high potential employee identification, and
Applicant tracking, interviewing, and selection.
2. HR inventory
Human Resources Inventory is an inventory of skills of human resources currently
employed in the organization. It tells management what individual employees can
do. The profile of the human resource inventory can provide information for
identifying current or future threats to the organization's ability to perform
3. HR training Inventory
It contains information about the training needs of the employees. It tells
management what type is training is needed to the employees to enhance their
skills, knowledge and capabilities.
4.4.3 Functions of HR Planning and Development Department (HRPDD)
HRPDD of Sunrise Bank Limited focuses on overall management of the employees
work related issues. It also emphasizes on motivating employees to continuously
perform better in their respective duties.
4.4.3.1 Human Resource Planning
Human Resource Planning and Development Department is responsible for
forecasting human resource needs for the organization and planning the steps
necessary to meet those needs. It ensures that organization has right number and kinds
of people at right place, at the right time that are capable of effectively and efficiently
completing those tasks that will help the organization achieve its overall objectives.
Human Resource department head determines future staffing requirements. A memo
is forwarded to the management committee stating the human resource requirement
for the approval. It helps in the formulation of human resource plans.
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4.4.3.2 Recruitment and Selection
Recruitment is the set of activities an organization uses to attract job candidates who
have the abilities and attitudes needed to help the organization achieve it objectives. It
discovers potential candidates for actual or anticipated organizational vacancies.
Like in other banks, employee recruitment forms a major part of an organization's
overall resourcing strategies which seek to identify and secure the people needed for
the organization to survive and succeed in the short to medium-term. Recruitment is
either internal recruitment or external recruitment.
Recruitment and selection process of Sunrise Bank can be outlined as follows:
1. Candidates drop in their application letter along with their bio-data,
photocopies of academic certificates, citizenship and one passport sized
photograph at head office. They can even apply through email. The
applications are dropped in response to the vacancy announcement or without
any announcement.
2. HRPDD keeps record of those applications. While entering the applications,
they are given codes and are filed in the respective cabinets.
3. If any post falls vacant then HRPDD either looks for internal or external
source.
4. Filling vacant post through internal source is usually cost effective. Internal
source is mostly preferred for high level posts.
5. Once HRPDD decides to recruit staffs through external source, it goes through
all the applications dropped by interested candidates.
6. Screening is done. Candidates should meet following criteria in order to be
eligible for the interview
a. They should have minimum second division.
b. Bachelors Degree is required for trainee
c. Masters Degree is required for Officers
d. For the post of Management trainee, master's degree is preferred.
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7. Eligible candidates are short listed for interview. Two levels of interview is
conducted.
a. First level interview is conducted by five Panel of Judges (Top level
Management). Candidates are evaluated on several categories. They
need to score above forty percent to qualify for next level interview.
b. Second level interview is held by CEO with BOD. Those applicants
who pass first level interview are called for second level interview.
CEO judges them and gives his decision. BOD only observes the
candidates.
8. After appearing for interview, scores of candidates are calculated.
9. Those applicants scoring above forty percent are selected. They are given
appointment and deputation letter.
10. Finally they are placed in the respective department filling the vacant post.
4.4.3.3 Training and Development of employees
Training and development of employees is extremely important to improve current or
future employee performance by increasing their skills and knowledge through
learning. It is the learning process in the organization. It is an attempt to increase skill,
ability and motivation of the employees to work.
Human Resources Development can be defined simply as developing the most
important section of any business. Their human resources attain or upgrade their skills
and attitude and ultimately maximize the effectiveness of the enterprise
At Sunrise Bank Limited there is a separate sub-unit to look after training and
development of the employees. Both internal and external trainings are given to the
employees. For the purpose of internal training, resource person from Sunrise Bank
itself is used whereas for external training, external resource persons are used. Annual
training calendar is developed that maintains information about both internal and
external orientation, training, workshop and relevant programs for staff members and
get the same approved by the management for costing whenever required.
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Training and Development of employees takes place in following ways.
1. Training needs of the employees are identified. When a staff is newly
appointed he/she is given orientation to familiarize with the working
environment. Employees are requested to fill training need assessment (TNA)
forms. In the form employees have to point problems faced by them in course
of performing their job and type of training they need to develop themselves.
Entry of TNA form is made to analyze training needs of employees.
2. After analyzing training needs by HRPDD, a memo is prepared to state the
training needs of employees. It is then forwarded to top level management i.e.
AGM- BP for approval.
3. Once AGM-BP approves the training needs, either internal or external
resource person is hired and employees are informed about the training.
4. Attendance of employees attending training is maintained. Feedback is taken
to know the effectiveness of training.
5. Performance of employees during training session is also evaluated by the
respective resource person.
6. Post training report is prepared and forwarded to top level management for
future HR planning.
4.4.3.4 Performance Appraisal
Employee's performance is an important dimension of HR management. Performance
appraisal is the HR activity that is used to determine the extent to which an employee
us performing the job effectively. It is the process of systematically providing
feedback on which performance adjustment is made.
Sunrise Bank Limited has given equal importance to performance appraisal. It is done
very six months. Performances of the staffs are evaluated and rating on the scale of 1
to 10. Scoring is done on the basis of several categories and average is calculated.
Performance evaluation is done following formal channel.
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1. Firstly evaluation of the staffs is done by their immediate supervisor. Then it is
forwarded to HRPDD. All the calculations are checked.
2. Secondly it is further preceded to the Branch Manager (or respective
branches). Branch manager gives his comments towards the performance of
employee. He even gives recommendation for the promotion of the
employees.
3. Thirdly the appraisal form is headed to AGM- BS and AGM- BP. They
analyze the ratings done by immediate supervisor and comments given by
Branch Manager. After careful analysis they give their recommendations and
suggestions.
4. Fourthly it is sent to General Manager for his judgment.
5. Lastly the appraisal form is forwarded to CEO. He gives the final verdict.
4.4.3.5 Taking corrective steps.
Once the performance appraisal is done, decisions are taken regarding promotion of
staffs, giving permanent status to the employees, increasing grades of employees,
firing the employees and so on. Top level management takes these decisions.
If the performance of employee is outstanding then he/she is promoted to
higher level post.
When the staffs are newly appointed they are assigned temporarily. After the
performance appraisal they are given permanent status.
Grades of the employees are also increased on the basis of performance
evaluation.
If the employees' performance is not satisfactory then they are given
termination letter.
4.4.3.6 Monitoring Staff Discipline, attendance and leave
HRPDD also monitors staff discipline at workplace, daily attendance and leave. It
gives advice and recommendations on disciplinary actions. At Sunrise Bank Limited,
employee's attendance is done though card system. Their sign in and sing out time is
38
tracked by the system. A device is located at all branches which are used for the
attendance purpose. Attendance of staffs is very important.
HRPDD maintains attendance records of all branches. Software called Timetel is used
to extract attendance from the devices located at various branches.
Late record chart is prepared every month and forwarded to top level management.
Employee who record late attendance of more than three days is called for
explanation. They are even charged penalties if the reasons are not justifiable.
HRPDD also monitors the leave taken by the employees. It investigates and
understands causes for staff absences. Employees are entitled annual leave, casual
leave and sick leave, special leaves on the approval of the management. For the public
holiday purpose SrBL follows Nepal Rastra Bank's calendar.
4.4.3.5 Salary, Compensation and Reward
Reward and compensation is one of the major functions of Human Resource Planning
and Development Department. It is the one of the motivating factor for the
employees. It is very important to provide compensation and reward to the employees
for their better performance, loyalty and commitment.
At SrBL different types of money and other rewards are given to the employees on
the basis of their performance. When employees meet their deposit target they are
rewarded and there are several other performance based rewards.
Employees are paid monthly salary for the services offered at bank. The final
authority of determining and revising salary rests with the Board. Along with the
salary they are also given monthly allowances, insurance facility, provident fund,
Dashain expenses, loans and advances. Salary of every employee is kept confidential.
Individual pay level of an employee may be different due to its performance related
increment system.
4.4.3.6 Other Functions
39
Besides above mentioned functions HRPDD at Sunrise Bank performs other functions
as well. They can be listed as follows:
Provide basic counseling to staffs that have performance related issues and
motivate to perform better and achieve more.
Listening to employees grievances and implementing disciplinary procedures.
Ensure that proper dress code is maintained by staff at all times.
Take a lead role in developing manuals and guidelines related to HRM
Promote workplace safety by encouraging staff members to follow safety
measures
Develop guidelines on issues such as working conditions, performance
management, equal opportunities, disciplinary procedures, absence
management etc.
Promote equality and diversity as part of culture of bank
Prepare annual budget of HRM and perform regular review of the same.
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CHAPTER V
CONCLUSION AND LESSON LEARNT
5.1 CONCLUSION
During internship in Sunrise Bank Limited and preparation of this report, I got the
opportunity to learn a lot about the banking sector and scrutinize its various aspects.
Prior to this experience my knowledge of banking was very little and limited to books
only. But through internship I got a practical acquaintance of the bank and the
corporate culture. At SrBL, I was cooperatively guided by all the banking personnel
who helped me in acquiring the in-depth banking knowledge.
Doing internship at SrBL not only helped in learning the automated systems, but also
the manual process of doing works in the bank. It helped gain tremendous knowledge
and experience mainly with Customer Service Department and Human Resource
Department as well as working principles of commercial banks. I not only sat and
observed in the different department but also performed variety of tasks by myself.
During my study, I found out customers are the greatest assets of any bank. SrBL is
constantly attempting to provide better or quality service to the customer. The
behavioral issues are also critical as they make customer feel satisfied. The unique
and tailor made products and services are the targeted to fulfill the diverse needs of
the customer. This helped the bank to achieve success by creating loyal customers and
retaining them.
I have learnt that socializing with the people, dealing with the coworker or a senior,
making the working environment cozier and friendlier are equally important in the
organization. Informal interaction and communication among the employees help to
41
ease the monotony of the job and create a pleasant working environment. My
supervisors not only guided me about the banking, but they also shared their personal
experience and facts that helped me get a better picture of the organization.
Lastly, I want to conclude that SrBL is excellent in term of their services despite with
some pros and cons with the issue related to customer satisfaction. SrBL, although a
newly established bank, has opportunity to increase their market share as it is
expanding its branches rapidly in various parts of the country. SrBL is established
with the promise to provide excellent services to their customer and improve their
customer satisfaction by specializing on the strength, overcoming its weakness and
doing their best to retain their valued customers.
5.2LESSON LEARNT
Internship of eight weeks at SrBL has contributed a lot in developing theoretical base
and practical skills through practical exposure to the industry. I got an opportunity to
know its corporate culture. It is the basic lesson for my career development. Beside
this, I have also learnt the working of the general banking transaction process by
being engaged as intern in Customer Service Department and Human Resource
Planning and Promotion Department. During this period I got an opportunity to be a
part of IPO which was a great success.
Working as the intern I could witness the working procedures of the Customer
Service Department, Human Resource Department and IPO. At Customer care I got
an opportunity to interact with customers. I came to know the role of Business Desk
to convert Walk in customers into valuable clients and deliver excellent service to
their satisfaction. I observed both manual and automated functioning of Business
Desk.
The Human Resources function provides significant support and advice to line
management. The attraction, preservation and development of high caliber people are
a source of competitive advantage for our business, and are the responsibility of HR.
42
Moreover, I could closely monitor recruitment and selection, training and
development and performance evaluation of the employees.
During my intern period I even felt the importance of the time management and the
need of the communication skills. Since the customers are the main drivers of any
financial institutions, they should be pleased by offering the quality services which
are basically depends on the quick service and the pleasing personality of the staffs
because most of the services provided by different commercial banks are same in
nature and customers have different choices to make in the market.
I even learnt many aspects of human resource i.e how a human resource department
looks after entire human resource in a financial industry, how selection and
recruitment process is carried out by human resource department, how they formulate
rules and regulation that are to be followed by each and every employee in the bank
and various types of trainings provided to the employees to enhance knowledge and
skills. Similarly I have also experienced how their performance is rated.
The ultimate success of any organization depends on its Human resource. Human
resource of an organization is not only a critical asset today but has become an
important source of competitive advantage. Employees need to have both the
motivation and the skill to be customer focused. It is important to determine both
current and future organizational requirements for both core employees and the
contingent workforce in terms of their skills/technical abilities, competencies,
flexibility etc.
During my internship period IPO was conducted. I even got an opportunity to know
why and how the IPO is conducted. An initial public stock offering (IPO) referred to
simply as an "offering" or "flotation," is when a company issues common stock or
shares to the public for the first time. They are often issued by smaller, younger
companies seeking capital to expand, but can also be done by large privately-owned
companies looking to become publicly traded. Nepal Merchant Banking was the issue
manager for Sunrise Bank Limited
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