Internship Report
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- Date Submitted: 09/09/2014 06:13 PM
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CHAPTER I
INTRODUCTION
1.0 Background
The word bank was derived from the Latin word “bancus”, Italian word “banco” or “banca” and French word “banque” meaning “bench” on which the bankers would keep money and its records. Bank in general is meant an institution established by law, which deals with money and credit. Bank is an institution which deals with money, receiving it on deposits from customers, honoring customers drawing against such deposits on demand, collecting cheques for customers and lending or investing surplus deposit until they are required for repayment. A bank simply carries out the work of exchanging money, providing means of payment, electronic banking and other services such as issuing travelers’ cheque and money orders.
In general, a bank is institution with the following features:
* It deals with money; it accepts deposits and advances loans.
* It also deals with credit; it has the ability to create credit.
* It is a commercial institution; it aims at earning profit.
“The banker’s business is to take the debts of other people, to offer his own in exchange and thereby create money”.
Crowther,
“Establishment authorized by a government to accept deposits, pay interest, clear checks, make loans , act as an intermediary in financial transactions, and provide other financial services to its customers.”
Business dictionary,
“Institution for keeping, lending and exchanging of money”.
Chamber’s Ttheyntieth Century Dictionary
“Bank is an establishment, which wakes to individual such as advance of money as may be required and safely made to and to which individual entrust money when and required by them for use."
Kinley,
Due to the globalization and demanding advance services the financial customer in Nepal are more aware at present. The existing banks are equally conscious with the growing need of financial services in the country. The expansion of bank’s services is much affected by the policy of the central bank, size of...
INTRODUCTION
1.0 Background
The word bank was derived from the Latin word “bancus”, Italian word “banco” or “banca” and French word “banque” meaning “bench” on which the bankers would keep money and its records. Bank in general is meant an institution established by law, which deals with money and credit. Bank is an institution which deals with money, receiving it on deposits from customers, honoring customers drawing against such deposits on demand, collecting cheques for customers and lending or investing surplus deposit until they are required for repayment. A bank simply carries out the work of exchanging money, providing means of payment, electronic banking and other services such as issuing travelers’ cheque and money orders.
In general, a bank is institution with the following features:
* It deals with money; it accepts deposits and advances loans.
* It also deals with credit; it has the ability to create credit.
* It is a commercial institution; it aims at earning profit.
“The banker’s business is to take the debts of other people, to offer his own in exchange and thereby create money”.
Crowther,
“Establishment authorized by a government to accept deposits, pay interest, clear checks, make loans , act as an intermediary in financial transactions, and provide other financial services to its customers.”
Business dictionary,
“Institution for keeping, lending and exchanging of money”.
Chamber’s Ttheyntieth Century Dictionary
“Bank is an establishment, which wakes to individual such as advance of money as may be required and safely made to and to which individual entrust money when and required by them for use."
Kinley,
Due to the globalization and demanding advance services the financial customer in Nepal are more aware at present. The existing banks are equally conscious with the growing need of financial services in the country. The expansion of bank’s services is much affected by the policy of the central bank, size of...