Operations

The country received the inward remittance of about Rs 550 billion in In FY 071/72 only, which is about 20% on the total GDP of the country. Notably, Nepal is ranked in the 7th Position in terms of remittance's contribution in the GDP.

Whilst the inward remittance is contributing significantly in the economy and enabling to uplift the life standard of people and supporting BFIs to increase FCY trading / revaluation gain and fee income, many operational risk events are also taking place along with increase in remittance business.

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.

In the banking prospective, the signature verification is the major tool for analysis process of authentication of any documents. But short time as well as confused mind makes it so critical as result millions of dollars loosing by banks now a days is a normal phenomenon. Verification of cheque is one of the most risky job although properly handling of document in initial phase and check and balance mechanism are the major tools to affect it directly. This program will highly appreciate the team spirit among CSD, Operation and Cash to minimize fraud as well as Verification of signature.

Many Operational Risk events are taking place in the industry, which is in increasing trend. The risk event types indicate that it is happening on account of inadequate systemic infrastructure, unskilled human resource depending on a few IT personals and inadequate knowledge and skills on IT of the senior officials who supervise IT personals.

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.