Banking literacy

Internal control system

The process of setting goals in the day-to-day operations of an organization, examining actual performance, detecting discrepancies, and taking corrective action is called internal control system. Internal control is the mechanism for preventing and dealing with mistakes and fraud. This is also called the process by which the upper body knows whether the work done …

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emerging challenges in banking sector

High competition After open market policy, economic liberalization, and Nepal becoming a member of the World Trade Organization, there seems to be intense competition in the banking sector in Nepal. As a result, challenges are increasing in the banking sector. An unhealthy environment competition is also being created among the banks which may develop into …

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Role of commercial bank in economic development of nepal

The banking sector plays a huge role in the economic development of the country. The bank integrates and mobilizes the capital scattered across the country. For a developing country like ours, the banking system is a bloodbath. The economic development of developing countries is not possible without the development of the banking sector. Therefore, the …

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Meaning of Bank

The word bank comes from the Italian ‘banco’. In Italian, ‘banco’ means bench. In the early days, people used to sit on a bench dealing with money. Later, the place where the transaction took place was called a bank. Generally, business entities dealing in currency and credit are called banks. A bank is an institution …

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