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Operational Risk has been increasing day by day in the Nepalese Financial Sector and large risks events are taking place one after another. INR Draft events taken place in Kathmandu, good for payment incident happened at one of the development banks and remittance fund embezzlement case incurred at one of the large commercial banks are the examples of a few incidents.
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Preparing valid loan document is not an easy task. The officials designated for loan document preparation should have knowledge of prevailing legal aspects, risk factors associated with the credit along with patient, analytical skill and common sense.
There is a saying – ‘If you fail to plan, you plan to fail’. Budgeting is more about planning – planning of our spending to achieve certain goal in a particular given time period. Budgeting is a process of creating a plan of our spending on a proper manner. This is, in fact, a tool of our planning. Our success depends on a proper planning. Therefore, we need to prepare our budget very carefully taking into account complete information, future priorities/ goals, resources etc.
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The main takeaway of the program is that the staff of the fraud prone area (department) will be aware of the possible fraud. They will have orientation on existing legal framework on banking fraud. |