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Xi nrb posting of lc issuance and payments 30 after

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xi.NRB posting of LC Issuance and payments
30After recording the LC issuance and LC payments in the excel sheet, the intern had torecord the same information in the official website of the NRB.NRB posting was sensitive task, even a small mistake would result in the goods beingheld in the custom entry point in Nepal. Thus, the data had to filled with great care.The information like LC number, date of issue, date and place of expiry, name of theapplicant and beneficiary, currency code and amount, percentage of tolerance,shipment date, name of custom entry point, port of loading, port of discharge, place offinal destination, description of goods, harmonic code, Inco term, country of originand country of shipment had to be filled in the NRB website. The posting would becompleted with the upload of PI and BI.BI.NI Form. In case the intern made someerror during the posting, the supervisor would return the document and the intern hadto again edit the NRB posting. Once the supervisor would accept the entry made bythe intern, the LC document would be reviewed by NRB.xii.Filing of documentsIn case of new LC opening, the intern had to prepare a new file and place thedocuments. While in case of payment, the swift copies were placed in the existing fileby the intern. The filing of documents had to be done on a day to day basis. Theintern had to store and drive different types of files according to the requirement ofthe supervisors. The files were stored on the basis of LC number and branch codewhich are provided according to the nature of transaction and the currency used forthe transaction.3.3. Experiences in the internshipFirstly, the intern learnt how to apply for LC for import. From scanning to photocopying,emailing, filing, data entry, and software input, every action performed and responsibilityassigned was critical to the intern. Corresponding to the purpose of the internship program, the
31intern had the opportunity to apply theoretical knowledge in a real-world working setting duringthe internship period. Being not much familiar with the practicality of LC application andissuance, the intern had gained a practical exposure. With the knowledge gained at theDepartment of Trade Finance at RBBL, it would be of great aid to the intern when applying forthe jobs and vacancies after graduation.This internship program at the Department of Trade Finance has given the intern theopportunities to acquire practical experience in the real banking industry and respond as acornerstone prior to actually entering the professional life, thereby amplifying personal capabilityand competencies and establishing managerial skills and behavior. This program has aided in thedevelopment of the intern's personal and analytical abilities. It has also aided in the developmentof the capacity to function under pressure and in a team-based environment.

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Term
Spring
Professor
N/A
Tags
RBBL, Rastriya Banijya Bank Limited

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