Internship Report On Prabhu Bank Limited Babarmahal, Kathmandu Submitted By

Parties involved in remittance are:

1. 
   Remitter: person or organization who sends money
   
2. 
   Remitting bank: Remitter’s bank which receives fund from the remitter and sends fund.
   
3. 
   Paying bank: bank which receives message from remitting banks and pay to the beneficiary.
   
4. 
   Beneficiary: a person who is intended to receive money.
   

Modes of remittance
There are various instruments used for fund transfer service in PBL. Normal consideration for choice of one particular instrument against other will be based on factors such as speed, cost, purpose etc.
The service of remittance is provided via various way:

1. 
   Demand draft
   
2. 
   PBLremit online
   
3. 
   PBLKorea remit
   
4. 
   Mail transfer
   
5. 
   Pay order
   
6. 
   SWIFT transfer
   
7. 
   Telex/Fax transfer
   
8. 
   Bill transfer
   

Apart from PBL Remit, PBL provide online foreign remittance through the following international services:

1. 
   CG money remit- Malaysia, UK, USA, Japan, UAE Services
   
2. 
   Prabhumoney transfer- worldwide service
   
3. 
   Express money service limited-worldwide service
   
4. 
   Instant cash global money transfer- worldwide service
   
5. 
   Ez remit- worldwide service
   
6. 
   Western union – worldwide service
   
7. 
   International money express- worldwide service
   

2. Any branch banking system (ABBS)

PBL has been providing any branch banking service to the all branches across the country to help the customers get the amount from anywhere and any place within Nepal. In this kind of facility, the sender can send the money from any branch within Nepal and the receiver can receive the money from anywhere within loan.

2. Electronic cheque clearing (ECC)

PBL facilitates ECC system in this branch. ECC is the state-of-the art interbank cheque clearing solution that has replaced the manual cheque clearing solution in Nepal. It is an image- based, cost- effective, cheque clearing and settlement solution, where the original paper cheque are transferred to scanned images in order to be presented electronically through the secured communication channels from the member in which they are deposited to the member on which they are drawn resulting in a faster access to funds, lower transportation expenses and increase cheque trust. ECC calculates the multilateral net clearing position of the direct member. The central system of the clearing of the clearing mechanism lies at Nepal Clearing House Ltd.

2. Trade finance

Through the wide spread and strong network of correspondent banking relationships, PBL is cable to offer various products related to international trade suitable to your needs. Some of the major products and services in this regard are as follows:

1. 
   Letter of credit (local, import and export)
   
2. 
   Various types of bonds/guarantees (including counter guarantees)
   
3. 
   Collections (clean and documentary)
   
4. 
   Short term trade finance (import, export and bills)