DEPOSITORY PARTICIPANT DEPARTMENT OF

NIBL ACE CAPITAL LIMITED

By:

Nistha Manandhar
Padma Kanya Multiple Campus
Exam Roll number: 1291/16
T.U. Registration Number: 7-2-38-786-2016

An Internship Report Submitted to:

Office of the Dean
Faculty of Management
Tribhuvan University

in partial fulfillment of the requirements for the degree of

Bachelor of Business Management (BBM)

At the
Padma Kanya Multiple Campus

Bagbazar, Kathmandu

June, 2021
 DECLARATION

I, Nistha Manandhar, hereby declare that I have completed internship work in NIBL ACE
CAPITAL from 24th January 2021 to 3rd April 2021 and prepared the Internship Report
entitled ‘Depository Participant Department of NIBL Ace Capital Limited’ under the
supervision and guidance of Associate Prof. Dr. Rohit Kumar Shrestha in partial
fulfillment of the requirements for the degree of Bachelor of Business Management
(BBM) at Faculty of Management, Tribhuvan University. It is my original work and I
have not submitted it earlier elsewhere for any other purposes.

Signature

Nistha Manandhar

T.U. Reg. No: 7-2-38-786-2016

Date: June, 2021

ii
INTERNSHIP CERTIFICATE FROM THE
ORGANIZATION

iii
 CERTIFICATE OF SUPERVISOR
This is to certify that Ms Nistha Manandhar has done her internship work in NIBL Ace
Capital from 24th January 2021 to 3rd April 2021 and prepared the internship report
entitled Depository Participant Department of NIBL Ace Capital Limited in partial
fulfillment of the requirements for the degree of Bachelor of Business Management
(BBM) at Faculty of Management, Tribhuvan University under my supervision and
guidance. To the best of my knowledge, the internship report is her original work and the
information presented by her in the report has not been submitted earlier anywhere. The
report is based on the activities accomplished by her during the internship work.

Name of the Supervisor: Dr. Rohit Kumar Shrestha

Signature:

Date: June, 2021

iv
 LETTER OF APPROVAL

Certified that this Internship report

Depository Participant Department of NIBL Ace Capital Limited

is the original work of

Nistha Manandhar

Who carried out the Internship Report As per the Prescribed

Format of the Tribhuvan University

This report is forwarded for examination.

Name of the External Examiner ……………...

Name of the Supervisor Dr. Rohit Kumar

Shrestha

Name of the research committee Chairperson: Prof. Dr. Shyam

Bahadur Katuwal

…………………...

Associate Prof. Agni Dhar Parajuli,

Director,

Bachelors of Business Management Program

Date:

v
 VIVA VOCE SHEET

We have conducted the viva-voce examination of the Internship report presented by

Nistha Manandhar

Padma Kanya Multiple Campus

Exam Roll number: 1291/16

T.U. Registration Number: 7-2-38-786-2016

entitled

Depository Participant Department of NIBL Ace Capital Limited

and found the report to be original work of the student and written according to the
prescribed format. We recommend the report to be accepted as partial fulfillment of the
requirements for the degree of

Bachelor of Business Management (BBM)

Viva-voce Committee

Member: ...............................

Member: ....................................

Date: June, 2021

vi
 ACKNOWLEDGEMENTS

The report entitled “Depository Participant Department of NIBL Ace Capital” is prepared
for the partial fulfillment of the requirements for the degree of Bachelor of Business
Management offered by Tribhuvan University, on the basis of the activities performed
and experience gained during the internship period. I would like to express my deep and
sincere gratitude to Tribhuvan University, for providing great opportunity to enhance my
educational knowledge and build up skills of practical working conditions.

Firstly, I would like to express my sincere gratitude to my supervisor, Dr. Rohit Kumar
Shrestha, for the guidance, constant supervision and clarification. Secondly, I am
extremely thankful to Director of Bachelors Business Management program Associate
Prof. Agni Dhar Parajuli and the college management for providing supports and other
necessary documents during the internship program and report preparation.

I would like to evince my sincere appreciation to NIBL Ace Capital Family, for giving
me the chance to be part of the organization. I would like to thank Mrs. Mamata Pandey
and Mr. Bikram Bishankhya for their continuous guidance and supervision which made it
easier for the intern to perform the daily activities.

I would further like to express my gratitude to Mr. Pratik Shrestha for his continuous
suggestion and encouragement throughout the preparation of the report.

Lastly, I would like to thank everyone who assisted me in this report directly or
indirectly.

Nistha Manandhar

June, 2021

vii
 TABLE OF CONTENTS

Declaration ............................................................................................. ii

Internship Certificate from the Organization .................................................................... iii

Certificate of Supervisor ............................................................................................ iv

Letter of Approval ............................................................................................. v

Acknowledgement ........................................................................................... vii

Table of Content ............................................Error! Bookmark not defined.

List of Tables ........................................................................................... xii

List of Figures/Charts .......................................................................................... xiii

List of Abbreviations/Acronyms ....................................................................................... xiv

Executive Summary ……………………..……………………………….…... xv

CHAPTER-I INTRODUCTION............................................................................ 1

1.1.Background ................................................................................ 1

1.2.Issues/ Problems of the report .................................................... 2

1.3.Objectives ................................................................................... 2

1.4.Methodology .............................................................................. 3

1.4.1.Sources of Data ................................................................ 3

1.4.2.Organization selection ..................................................... 3

1.4.3.Placement ......................................................................... 4

1.4.4.Duration ........................................................................... 4

1.4.5.Activities Performed ........................................................ 5

1.5.Limitations of the study .............................................................. 5

CHAPTER-II INTRODUCTION OF THE CAPITAL MARKET...................... 7

2.1. Meaning and definition of the industry ..................................... 7

viii
 2.2. Origin of the industry ................................................................ 8

2.3. Types of the industry ................................................................. 9

2.3.1. Primary Market ............................................................... 9

2.3.2. Secondary Market ......................................................... 11

2.4. Evolution of the industry ......................................................... 11

2.5. Functions of the industry ......................................................... 13

2.5.1. Primary Market functions: ............................................ 13

2.5.2. Secondary Market functions: ........................................ 13

2.6. Objectives of the industry........................................................ 14

CHAPTER-III INTRODUCTION OF NIBL ACE CAPITAL ............................ 15

3.1. Background ............................................................................. 15

3.2. VMGO ..................................................................................... 15

3.2.1.Vision .................................................................... 16

3.2.2. Mission................................................................. 16

3.2.2. Goals .................................................................... 16

3.2.4. Objectives .......................................................... 16

3.3. Branches .................................................................................. 17

3.4. Organization Structure ............................................................ 17

3.5. Number of Employees ............................................................. 18

3.6. Products and Services of NIBL Ace Capital ........................... 18

3.6.1. Mutual fund ................................................................... 18

3.6.2. Portfolio Management System...................................... 19

3.6.3. Merchant Banking Services .......................................... 19

3.6.4. Depository Participant .................................................. 19

3.6.5. Advisory Service ........................................................... 20

ix
 3.7. Performance/ Financial Position ............................................. 20

3.8. Work Flow Process ................................................................. 21

3.9. Linkage with other departments .............................................. 22

3.10. SWOT analysis ...................................................................... 23

3.10.1. Strength ....................................................................... 23

3.10.2. Weakness .................................................................... 23

3.10.3. Opportunities............................................................... 23

3.10.4. Threats......................................................................... 24

CHAPTER-IV ANALYSIS OF THE DEPOSITORY DEPARTMENT ............ 25

4.1.Department and their major functions ...................................... 25

4.1.1.Depository Participant (DP) ........................................... 25

4.1.2.RTS Department ............................................................ 26

4.2Activities performed in the organization ................................... 26

4.2.1.Activities performed in the DP department ................... 26

4.2.2.Activities performed in RTS department ....................... 28

4.3.Distribution/ Allocation of works............................................. 29

4.4.Problem solved ......................................................................... 30

4.4.1.Problems regarding Mero share password and BO ID .. 30

4.4.2.Correction of customer details ....................................... 30

4.5.Intern’s Key Observation ......................................................... 30

CHAPTER-V LESSON LEARN AND CONCLUSION ..................................... 32

5.1.Lesson learnt............................................................................. 32

5.1.1.Attitudes learnt ............................................................... 32

5.1.2.Key skills ....................................................................... 33

5.2.Conclusion ................................................................................ 34

x
 5.3.Feedback to the organization .................................................... 34

5.4.Feedback to the college/ university .......................................... 35

REFERENCES ........................................................................................... 36

APPENDIX / ANNEXURE ........................................................................................... 39

xi
 List of Tables

Table 1.1 Placement and duration of Internship ................................................................. 5

Table 3.1 Statement of Profit or Loss of last five years.................................................... 20

xii
 List of Figures/Charts

Figure 2.1 Types of Industry ............................................................................................... 9

Figure 3.1 Organizational Structure.................................................................................. 18
Figure 4.1 Gantt chart of Allocation of Works ................................................................. 29

xiii
 LIST OF ABBREVIATIONS/ACRONYMS

BBM : Bachelors of Business Management

BO ID : Beneficiary Owner Identity Number

C-ASBA : Centralized Application Supported by Blocked Amount

CDS : Central Depository System

CV : Curriculum Vitae

DP : Depository Participant

EPS : Earning per Share

FOM : Faculty of Management

HMG : His Majesty’s Government

HRD : Human Resource Development

IPO : Initial Public Offering

IT : Information Technology

NEPSE : Nepal Stock Exchange

NIBL : Nepal Investment Bank Limited

NIDC : National Industrial Development Corporation

NIM : New Issues Market

NRN : Non Resident Nepali

PMS : Portfolio Management System

QIP : Qualified Institutional Placement

ROE : Return on Shareholder’s Equity

RTS : Register to Shares

SEBON : Securities Board of Nepal

SEC : Securities Exchange Center

SMC : Securities Marketing Center

TU : Tribhuvan University
xiv
 Executive Summary
The internship report is based on the intern's experiences in NIBL Ace Capital Limited,
Lazimpat, throughout a 10-week period from January 24th to April 3rd, 2021. The intern
worked for 9 weeks in the Depository Participant Department and 1 week in the Registrar
to Shares Department. Due to the adverse situation generated by the Covid-19 outbreak,
the internship was only done for ten weeks.

The report is divided into five parts, each of which deals with a different topic. The first
chapter discusses the internship program, the goal of the internship, and the limitations
encountered at the workplace. The second chapter discusses about the capital industry, its
origin, types, functions, and objectives. Following second chapter, the third chapter
discusses NIBL Ace Capital, its background, values, mission, vision, objective, SWOT
analysis as well as the products and services it offers in the market. The fourth chapter
examines the department in which the intern is assigned. It covers on the department's
functions as well as the issues the intern encountered across while working there. It also
discusses the intern’s important observations. The fifth chapter highlights the intern's
takeaways from the internship as well as her recommendations to the organization and
college.

xv
 CHAPTER - I

INTRODUCTION

1.1. Background
In today’s competitive market, the economy is very rapid and with that the talent,
knowledge, skill needed to a part of that growth cycle is too. The theoretical knowledge
provided by the college may not be adequate for the students to cope up with the dynamic
job market. Thus, along with theoretical knowledge the graduate must have some
practical insights and work experiences as well. Tribhuvan University (TU) has
introduced internship program for 12 weeks as a compulsory requirement for the
successful completion of the four-year Bachelors of Business Management (BBM) to
provide practical experience to the students. The main aim of this internship is to provide
a student with real life-experience on job exposure and an opportunity to apply the
theoretical concepts in everyday situations.

To fulfill these criteria, the intern of this report chose to work with NIBL Ace Capital
which is a wholly owned subsidiary of Nepal Investment Bank Limited. The intern was
keen to learn about a service industry. The intern especially chose to learn about the
emerging trends and services of the investment banking and the capital market. After
completion of the internship, it is mandatory for a student to submit a report based on the
experience gained and knowledge of the institution. This report is based on the internship
done in NIBL Ace Capital Limited, Lazimpat. It was a 12 week period from 24th January,
2021 to 3rd April, 2021.

NIBL Ace Capital is a wholly owned subsidiary of Nepal Investment Bank Limited. On
11th February 2018, NIBL Capital and Ace Capital started joint operation as NIBL Ace
Capital Limited which aims to provide exceptional and customized financial services
1
ranging from merchant banking, advisory, and asset management services to depository
participant functions. The main purpose is to help the clients not only realize and plan
their financial goals, but most importantly, to help achieve their goals with a well-
conceived balance of risk and return. The intern worked in DP (Depository Participant)
department for 9 weeks.

A DP is an agent of the depository. A Depository refers to a place or entity that holds

financial securities in a Dematerialized form. A bank, organization, or any institution
holding and assisting in security trading is referred to as a depository. Depository
accounts hold securities in the same way that bank accounts hold funds. They are the
intermediaries between the depository and the investors. The relationship between the
DPs and the depository is governed by an agreement made between the two under the
Depositories Act.

In a strictly legal sense, a DP is an entity who is registered as such with SEBON under
the provisions of the SEBON Act. As per the provisions of this Act, a DP can offer
depository related services only after obtaining a certificate of registration from SEBON.
A depository refers to a place or entity that holds financial securities in a Dematerialized
form, eliminating the risk related to holding physical financial securities. A depository
functions as a connection between the public companies that issue financial securities and
the investors or shareholders. A depository holds the securities of customers and gives
them back when the customer wants.

1.2. Issues/ Problems of the report

• What is the working process of Depository Participant Department?
• What is the function of Register to Shares Department?
• What activities are performed by Depository Participant Department?
• What are the problem solving techniques of Depository Participant Department?

1.3. Objectives
An internship links the students with the real working environment situation and offers
opportunities to apply theoretical knowledge and gain practical knowledge. The general

2
objective of the internship was to learn the corporate culture of DP Department of NIBL
Ace Capital. The specific objectives of this study were as follows:

• To know the working process of Depository Participant Department.

 To understand Register to Shares Department.
 To know the activities of Depository Participant Department.
 To know the problem solving techniques of Depository Participant Department.
.

1.4. Methodology
Internship incorporates the most practical method for obtaining knowledge and
information where the intern has to be present herself and learn through observation and
actually partaking in the activities in the department where the intern is placed. The
following methods were used for the data collection.

1.4.1. Sources of Data

1.4.1.1. Primary data collection

In the primary data collection methods, observation and personal interview were used.
Unstructured Indirect Personal interview was taken with the staffs of the organization.

The intern had worked for 10 weeks and during that period she directly observed the
daily operations, working modality, grievance handling, inter department communication
and inter branch communications.

1.4.1.2. Secondary data collection

In the secondary data collection methods, pamphlets, publications, brochures and
websites were used.

1.4.2. Organization selection

Selection of an organization is a critical task for an intern before starting an internship.
While selecting an organization one must consider the effect of the organization selected
on future career and objectives of the intern, whether the internship can help the intern
fulfill his/her objectives or not. Similarly, the organizations attitude towards interns while
performing different activities in the organization should also be considered.

3
Keeping all things in mind, the intern approached NIBL Ace Capital Limited for
internship as it was one of the leading providers of investment banking sector. Intern,
being the student of the Business Management with a little knowledge about investment
banking and capital market, it was an ample opportunity to learn and serve as an intern in
a reputed organization.

1.4.3. Placement
In this competitive market, it is not easy to get internship in reputed organization. College
provided recommendation letter, which intern dropped in the Human Resource
department (HRD) of NIBL Ace Capital Head Office at Lazimpat, Kathmandu along
with Curriculum Vitae (CV). After screening of the CV by the authority of HRD, the
intern was assigned at NIBL Ace Capital Head Office for the duration of 12 weeks. The
intern started working from 24th January 2021 to 3rd April 2021.

The intern joined NIBL Ace Capital on 24th January 2021 and started working in the
Depository Department (DP) under the supervision of DP head Mr. Sushant Aryal and
Mrs. Mamata Pandey. Intern was required to handle all the activities of the department
under the guidance and supervision of DP head. In this department, intern learnt to create
the Demat account, register the accounts into Mero Share, handled the annual charges of
the account, and other activities related to the department. After 9 weeks, the intern got
the chance to learn in RTS department under the supervision of RTS head Mrs. Sunita
Maharjan.

1.4.4. Duration
The duration of internship has been prescribed for twelve weeks or six credit hours of
working time at the organization by FoM, TU. Therefore, in order to fulfill this
requirement, internship was done for ten-week period only due to unfavorable situation
created by Covid-19 pandemic, from 9.30am to 5.30pm from Sunday to Thursday and
9.30 am to 1.30 pm on Friday as per the schedule of the organization. The intern was
placed on the following departments during those ten weeks time duration.

4
 Table 1.1 Placement and duration of Internship
Activities/Weeks 1 2 3 4 5 6 7 8 9 10
DP
RTS

1.4.5. Activities Performed

During the period of internship, the intern got the opportunity to work in the major two
departments; Depository Department and Registrar to Shares Department. This helped
the intern to know about general ideas and working of these departments. The activities
that are performed by the intern under these departments are as follows:

• Arrangement and filing of customer’s Demat form.

• Printing, scanning and photocopying of documents as required.
• Filing of account opening forms and collecting all the additional documents
required for opening an account and help the customer to fill up the required
form.
• Update database in Demat account registration software.
• Update database in Mero share registration software.
• Provide information about the new schemes of capital to the customer.
• Issuance and activation of Demat account and Mero share account for the
customers.
• Scanning and verification of the signature of customers.
• Handling telephone calls, customer queries and complaints.
• Use of the server computer and managing and updating the data.
• Dispatching the share certificates to the branches.

1.5. Limitations of the study

Some of the shortcomings of the study might be as follows:

• Information regarding organization was limited and scattered.

5
• The intern did not get the opportunity to learn about all the departments due to
limited time.
• The report is only concerned with the learning in Depository Participant
Department.
• The data presented in the report is based on the internship carried out from
24th January 2021 to 3rd April 2021.

6
 CHAPTER II

INTRODUCTION OF THE CAPITAL MARKET

2.1. Meaning and definition of the industry

Capital market is a regulated marketplace where individuals and businesses can purchase
and sell debt and equity securities. It is a marketplace where buyers and sellers exchange
financial instruments such as shares, stocks, and other derivatives. A capital market is a
regulated marketplace where individuals and businesses can purchase and sell debt and
equity assets. It is intended to be a quick and easy way to complete purchase and selling
transactions. A capital market in simple terms may be a place, physical or virtual where
investors through financial intermediaries lend funds for a fixed long term to borrowers
in exchange for financial assets (Oganga, 2019). This market is a vital source of financing
for an organization whose securities are allowed to be traded by a regulatory authority, as
it allows it to easily sell debt and stock to investors. The aim of a capital market is to
facilitate the issuing and trading of long-term securities (Accounting Tools , 2021) . The
funds which flow into the capital market come from individuals who have savings to
invest, the merchant banks, the commercial banks and non-bank financial intermediaries,
such as insurance companies, finance houses, unit trusts, investment trusts, venture
capital, leasing finance, mutual funds, building societies, etc.

There are issuing houses that do not contribute capital but instead underwrite a company's
shares and debentures and assist in the sale of new issues of shares and debentures. The
stock exchange market is how the capital market works. A stock exchange is a market
that allows people to purchase and sell stocks, bonds, securities, and debentures. It's not
just a market for old securities and shares; it's also a market for newly issued securities

7
and shares. In fact, the capital market is related to the supply and demand for new capital,
and the stock exchange facilitates such transactions. (Samiksha)

Capital markets are split into two categories- the primary market, and the secondary
market (Boyce, 2021). The primary market is where businesses and governments go to
get fresh capital. In other words, investors go there to lend out money with fresh new debt
being used. Secondary market is where old debt is traded. In other words, investors go to
this market to exchange cash in return for the debt that has already been issued.

Thus, capital market acts as an important link between savers and investors. It refers to
the collection of institutions and methods that pool medium- and long-term funds and
make them available to individuals, businesses, and governments (Boyce, 2021). The
capital market plays an important role immobilizing saving and channel is in them into
productive investments for the development of commerce and industry. As such, the
capital market helps in capital formation and economic growth of the country.
(Samiksha)

2.2. Origin of the industry

In the world:

In medieval Italy, commenda contracts became common around the 10th century. The
commenda was a joint venture between an investor and a travel companion. The
investing partner would put up the money, while the traveling partner would run a
business (usually an international trade) (Van Doosselaere, 2009). The initial cash would
be returned to the investing partner, and the remaining profits would be divided. The
commenda functioned as a joint-stock company for the purpose of funding a single
expedition. Malmendier, a German economist provides evidence that shareholder
companies date back to ancient Rome (Stringham & Curott, 2015). But the title of
world's first stock exchange belongs to Amsterdam in the seventeenth century, where an
active secondary market in company shares arose. The Dutch East India Company and
the Dutch West India Company, established in 1602 and 1621, respectively, were the two
main companies. Other businesses existed, but they were smaller and only made up a
small part of the stock market (Ritchie, 2021).

8
In Nepal:

The development of the capital market, especially the primary markets, dates back to
1937 when Biratnagar Jute Mill and Nepal Bank Limited, the first commercial bank of
Nepal, started the primary issue of shares (Karki, 2020). However the secondary market
started only after the establishment of the regulator of the securities market- the
Securities Board of Nepal (SEBON) and Nepal Stock Exchange Ltd. (NEPSE). Despite
its long history of growth spanning nearly two and a half decades, market modernization
is a relatively recent development, occurring only after 2016. (Thapa, 2019)

2.3. Types of the industry

Figure 2.1 Types of Industry

Capital
Market

Primary Secondary
Market Market

2.3.1. Primary Market

The primary market is a type of capital market in which corporations sell new securities
to investors for the first time in order to obtain funds, and it is also known as the New
Issues Market (NIM) (Corporate Finance Institute).

9
The process of selling the new securities, in the primary market is called underwriting,
which is performed by a group called as underwriters or security dealers. Financial
entities such as investment banks and insurance companies provide underwriting
services. The underwriting companies guarantee payment if there is any loss and accepts
the risk which occurs as a consequence of such guarantee (Corporate Finance Institute).
The point of the underwriter is to ensure that company receives the capital it needs. The
underwriter essentially pays the company for the bonds and then sells it onto the market –
usually at a higher rate. The risk is then passed onto the underwriter, but the company is
guaranteed to get the full loan (Beers, 2020).

The main function of the primary market is to mobilize the investible money from the
savers to the companies or young entrepreneurs who seek funds to set up new businesses
or expand the existing venture, by issuing securities (Boyce, 2021).

After the issuance of securities, investors can purchase such securities in various ways.
According to The Economic Times there are 5 types of primary market issues.

• Public issue: The most popular form of issuing securities to the general public is
through a public issue. It is mainly done via Initial Public Offering (IPO) which
allows corporations to raise funds from the capital market. These securities are
listed in the stock exchanges for trading.
• Private Placement: When a company offers its securities to a small group of
investors, it is called private placement (The Economic Times, 2015). Such
securities may be bonds, stocks or other securities, and the investors can be both
individual and institutional.
• Preferential issue: A preferential issue is one of the quickest methods available to
companies for raising capital. Both listed and unlisted companies can issue shares
or convertible securities to a select group of investors (Pati, 2021). However, the
preferential issue is neither a public issue nor a rights issue. The shareholders in
possession of preference shares stand to receive the dividend before the ordinary
shareholders are paid (The Economic Times, 2015).
• Right and bonus issues: Another issuance in the primary market is a rights and
bonus issue, in which the company issues securities to existing investors with the

10
 option to purchase additional securities at a predetermined price (in the case of a
rights issue) or to receive additional free shares (in the case of a bonus issue)
(Pati, 2021).
• Qualified Institutional Placement (QIP): It occurs when a firm that is already
listed on a stock exchange distributes shares, debentures (fully or partially
convertible), or any other type of security to Qualified Institutional Buyer (QIB),
except warrants that are convertible in nature (QIP) (The Economic Times, 2015).

2.3.2. Secondary Market

The secondary capital market is where investors can exchange old debt or stocks The
secondary market is where investors can trade previously issued securities such as stocks
and bonds. It's also where investors acquire securities from other investors rather than
from the issuing company (Kenton, 2020) .The sale proceeds from the secondary market
go to the investor, and not the issuing company.

Secondary markets include all stock exchanges where investors buy or sell their securities
with other investors. Because investors who deal with securities needed a place to
exchange their offerings for money, the stock exchange emerged (E-finance
Management, 2018). Today, it is highly sophisticated and uses advanced technologies to
provide real-time prices of any share.

Secondary markets are heavily regulated by the national government of every country
because they are an important source of capital formation and liquidity for companies,
investors and the economy as a whole (Gordon, 2020). Also, from a company's
perspective, these secondary markets are an important way to monitor and control the
public perceptions of the company. It helps with crucial management decisions such as
incentive-based management contracts and aggregation of information through share
prices (Boyce, 2021).

2.4. Evolution of the industry

The history of capital market in Nepal dates back to 1936 in which year the shares of
Biratnagar Jute Mills Ltd. were floated. In 1937, Tejarath Adda was set up to facilitate

11
loans to the government employees and was converted into Nepal Bank Ltd. (Gurung,
2004).

HMG Nepal introduced the Company Act in 1964 and the first issue of government
bonds made in the same year through Nepal Rastra Bank to collect the developmental
expenditures. It carried 6 percent rate of interest and had the maturity period of five years
(Shrestha, 2038) .HMG Nepal announced the Industrial Policy in 1974 and under this
policy an institution named Securities Marketing Center (SMC) was established to deal in
government securities-development bonds and national savings bonds, and corporate
securities of few companies. The government has the virtual monopoly over the security
market. Then, Securities Exchange Center (SEC) was established in 1976 with an
objective of facilitating and promoting the growth of capital market (Gurung, 2004). It
was the only capital market institution in Nepal. Securities Exchange Act came into force
in 1984 (Gurung, 2004). Since then, SEC started to operate under this act. The purpose of
this act was to provide systematic and favorable market environment for securities
ensuring and protecting the interest of individuals and institutional investors as well as to
increase the public participation in various firms and companies.

SEC had provided facilities to trade the government securities and few of corporate
securities like shares and debentures. Only the shares of 10 companies were listed in SEC
and there was involvement of no broker and dealer in the securities market. So, SEC
itself was undertaking the job of brokering, underwriting, managing public issue, market
making for government bonds and other financial services (NEPSE, 1998). Apart from
this, there was the absence of effective secondary market to ensure liquidity to the
securities.

The interim government (1990/91) initiated financial reform program and two indirect
investment vehicles-Citizen's Investment Fund and NIDC Capital Markets Ltd.-were
established with the collective investment schemes in the corporate sector (Gurung, 1999)
.Then, due to the world whim of privatization and economic liberalization, the operation
of SEC was felt to change to make it compatible with the changing economic system. As
a result, HMG Nepal brought about change in the structure of SEC by dividing it into two
distinct entities-Securities Board, Nepal (SEBO/N) and Nepal Stock Exchange Ltd.

12
(NEPSE) at the policy level in 1993 (Thapa). Since then they are operating as the main
constituents of securities market in Nepal.

Initially, there were only 62 companies with 25 brokers (Gurung, 2004). The trading
system was open outcry system. The most significant change in Nepali secondary market
was the establishment of semi-automated system in August 24, 2007 (Thapa, History of
Share Market in Nepal). Currently, NEPSE has increased the number of brokerage houses
to 50, and more than 222 companies were listed. In addition, CDS and Clearing Ltd.
were established in 2010. Reforms were continued and till the mid of 2070s decade
(Thapa, History of Share Market in Nepal). Dematerialization of securities has been made
compulsory along with Demat account which has aided in full automation of secondary
market, centralized application supported by blocked amount (C-ASBA) has begun,
margin trading regulations has been formulated, and online trading of securities has also
begun (Thapa, 2019). With more than 2 decades of capital market operations in Nepal,
many reforms have also been done to modernize it over the periods which have resulted
in increased depth and breadth of the markets. (Gurung, 2004)

2.5. Functions of the industry

The function of capital market can be broadly classified into two types. They are;

2.5.1. Primary Market functions:

1. It issues IPO (Initial Public Offering), bonds and debentures.
2. The capital market performs the underwriting functions where the company floats
new issue in its underwriting.
3. It provides the services of Portfolio Management to its clients.
4. It creates the Demat account of customers.

2.5.2. Secondary Market functions:

1. It provides a platform to investor to enter into a trading transaction of bonds,
shares, debentures and other financial instruments.
2. It allows active trading so that there can be immediate purchase or selling with
little variations in price among different transactions.

13
 3. It acts as a medium of determining the pricing of assets in a transaction consistent
with the demand and supply.
4. It is an indicative of nation’s economy as well, and also serves as a link between
savings and investment.
5. Settlement of transaction on a particular given time or schedule.

2.6. Objectives of the industry

The main objective of the company is to provide unique and modern Merchant Banking
facilities to their clients and assist to create a successful and healthy financial
development in the capital markets as well as country. According to NIBL Ace Capital,
some of the objectives of capital market are as follows;

• To contribute the country in the development of capital market.

• To constantly strive to achieve superior results for each client and investors of
capital market and encourage prospective investor in capital market.

• Good corporate governance and wealth maximization of company and its

stakeholders.

• To provide high quality services that combines performance with value pricing
through successful and trusted relationship with our clients.

• To provide comprehensive merchant banking, investment advisory and

professional business services to emerging and midsize business entities,
government bodies and high net worth individuals.

• To build and maintain leadership in the domestic financial services industry

through prudent and strategic growth led by merchant banking activities.

• Underwriting of share, debenture and bonds etc.

14
 CHAPTER III

INTRODUCTION OF NIBL ACE CAPITAL

3.1. Background
Nepal Investment Bank Limited owns NIBL Ace Capital, which is a wholly owned
subsidiary of the bank. NIBL Capital and Ace Capital merged on February 11, 2018, to
form NIBL Ace Capital Limited, with the goal of providing excellent and personalized
financial services spanning from commercial banking, advising, and asset management
services to depository participant activities. The major goal is to assist clients in not only
realizing and planning their financial goals, but also in achieving those goals with a well-
balanced risk-reward ratio. The parent company's strength, together with its network and
experience, should position it as Nepal's leading and most trusted provider of customer-
centric and innovation-driven investment banking services. (NIBL Ace Capital)

NIBL Capital and Ace Capital merged on February 11, 2018, to form NIBL Ace Capital
Limited. Their objective is to help achieve a common aim of economic progress by
exercising caution and leading the way in offering custom investment banking services.
While NIBL Ace Capital is already a well-known player in the capital market, the merger
with Ace Capital has enhanced the company's pool of professional skills, talent, a solid
capital basis, and a strong long-term outlook. This not only ensures that the company can
effectively manage the money, but also that it can offer real answers to your financial
problems. (NIBL Ace Capital)

3.2. VMGO
The vision, mission, goals and objectives of NIBL Ace Capital are as follows.

15
3.2.1. Vision
The strategic plans of NIBL Ace Capital 2011 envision it to be the leading One-Stop
Financial Solutions Shop and grow the business to international standards with passion
and honesty while creating excellent value for all stakeholders. The organization also
envisions taking care of the community and environment as a responsible business
citizen.

3.2.2. Mission
NIBL Ace Capital is moving forward with a mission to be engaged with clients to
understand their needs and come forward with the expert advice and strategies as per
their need. They target to continue their success along the road with their clients.

3.2.3. Goals
The goals of NIBL Ace Capital are:

• Client Value Creation

• Stewardship
• Integrity
• Innovation

3.2.4. Objectives
NIBL Ace Capital is one of the leaders of the merchant banking sector of Nepal. To
maintain and grow its position the capital aims to

• Provide high quality services ;

• Generate adequate resources for expansion and growth;
• Ensure optimum development of their human resources;
• Promote the national economy, society and individual;
• Provide innovative new technology to enhance and facilitate transaction along
with convenience and customer satisfaction;
• To generate employment opportunity and facilitate career development plans for
employees

16
3.3. Branches
In order to serve its customers, NIBL Ace Capital has set up its branches at various
places of Nepal which are strategically important in business perspectives, availing the
organization’s services to the general public and at the same time proving to be profitable
to the bank itself. It performs its operation from 6 branches apart from head office (NIBL
Ace Capital). The branches lie in:

• Putalisadak
• Lagankhel
• Pokhara
• Biratnagar
• Butwal
• Birgunj

3.4. Organization Structure

An organizational structure is a system that outlines how certain activities are directed in
order to achieve the goals of an organization. These activities can include rules, roles, and
responsibilities. The organizational structure also determines how information flows
between levels within the company.

NIBL Ace Capital follows the hierarchical structure in the organization. A company's
chain of command, which normally runs from senior management and executives to
general staff, is referred to as a hierarchical organization. In other words, this form is
appropriate for companies with a single leader and a hierarchy of subordinates. The staff
is divided into groups, with each group reporting to their own department head. The
general manager receives a report from the department heads. As a result, the firm is
divided into levels, with the topmost level holding the most power.

The organizational structure of NIBL Ace Capital is shown below in the table.

17
 Figure: 3.1 Organizational Structure

(NIBL Ace Capital, 2019)

3.5. Number of Employees

As per Mr. Bikram Bishankhya, Office Assistant of NIBL Ace Capital, currently the
organization has 80 employees working in the head office. Similarly, each branch offices
have 5-8 employees

3.6. Products and Services of NIBL Ace Capital

NIBL Ace Capital delivers different types of products and services to its customers.
Some of them are;

3.6.1. Mutual fund

A mutual fund is an investment account that pools capital from investors and invests on
their behalf. It's a financial instrument that takes money from a group of people and

18
invests it in stocks, shares, and other assets. NIBL Ace Capital aims to provide a broad
and comprehensive range of active and quantitative investment products through the
Mutual Fund Services, including equity, fixed income, systematic investment plans,
liquidity, and alternative strategies. The goal is to manage well-defined investment
strategies that are sensitive to client needs while still providing long-term value (NIBL
Ace Capital).

3.6.2. Portfolio Management System

Portfolio Management Service (PMS) is a professional service that entails trained and
experienced portfolio managers putting together an effective portfolio based on research
recommendations. On behalf of their clients, fund managers oversee the entire activity of
the portfolio. To support the Nepalese investors, NIBL Ace Capital have created a
portfolio management service which can direct investors in the correct direction (NIBL
Ace Capital).

3.6.3. Merchant Banking Services

The organization provides a wide range of Issue and Sales Management services to
companies looking to raise equity and/or debt capital through an Initial Public Offering
(IPO), Right Issue, or other securities at NIBL Ace Capital. It assist the client companies
in making key decisions such as determining the face value, price band, issue size, issue
type, and offering time while consistently working to enhance the marketability of the
shares offered (NIBL Ace Capital).

3.6.4. Depository Participant

NIBL Ace Capital works as in intermediary between the depository system (CDS and
Clearing Ltd.) and the clients. The individual clients that enrolled in the depository
participant services will have a separate account and be entitled as the beneficial owner
(BO) of that account. The organization offers a secure, convenient and paperless way to
keep track of the client investments in shares and other security instruments over time,
without the hassle of handling paper based transcripts (NIBL Ace Capital).

19
3.6.5. Advisory Service
Advisory Services provide a comprehensive financial and strategic advice to the clients
with complex business needs. The teams at NIBL Ace Capital Ltd. believe that the
complexities of managing and achieving the varied financial goals of client requires
trusted professionals whose expertise enables them to look beyond just the finances and
formulas. The advisory teams at NIBL Ace Capital Ltd. adopt a collaborative and
customized process that is clearly defined by the clients’ needs and circumstances (NIBL
Ace Capital).

3.7. Performance/ Financial Position

NIBL Ace Capital, being one of the trusted merchant banking in Nepal, has been growing
directly in relation to of the Nepalese financial market. The financial highlights of the
organization as of July 16, 2019 were as follows:

Table 3.1 Statement of Profit or Loss of last five years

‘Amount in Rs’

Particulars 2016 2017 2018 2019 2020

Total
Shareholders’ 251,150,444 258,716,163 349,423,123 360,866,819 368,958,073
equity
Total Current
1,476,880,587 1,475,061,796 2,218,514,833 848,877,901 935,068,997
Liabilities
Total Assets 1,728,031,032 1,738,118,655 2,571,018,624 1,210,899,059 1,305,184,505
Total Revenue 91,436,007 232,324,121 147,583,046 188,164,957 176,186,525
Total Expenses 80,267,833 93,771,125 91,278,925 96,635,230 86,320,194
Earnings per
51.63 101.98 16.54 20.03 23.46
share (EPS)
Return on
Shareholder’s 29.86% 40.01% 12.78% 17.23% 17.17%
Equity (ROE)
Income before
69,999,373 138,552,995 56,304,123 91,529,727 89,866,330
income taxes
Tax expenses/
17,365,687 35,039,189 11,634,138 29,347,418 26,530,315
income
Profit for the
52,399,897 103,513,806 44,669,985 62,182,309 63,336,015
year
Sources: Annual report of NIBL Ace Capital

20
The above table shows the financial position of the organization of last five years. The
organization has been in profit from the very beginning. However, there was a major drop
in profit in the year 2018 by 131%. The company was not able to generate much revenue
in the same year which causes the decline in profit.

In 2019 and 2020, the company was able to increase their profit by 28.16% and 1.82%.

3.8. Work Flow Process

Workflow Process refers to a series of activities or tasks that must be executed in a
specific order or in parallel in order to reach a specific business goal. In most cases, the
process is linear and proceeds in a sequence determined by actions or pre-defined
business rules. The workflow process of DP department is shown in the figure below.

Figure 3.2 Flow Chart of Work Process

Receives
Demat form

Checks the Receives Mero

documents share details

Correction
Reject
Enters in the from customers

system

Signature Receives BO
Approval Accept
upload & ID
verification

21
3.9. Linkage with other departments
Figure 3.3 Linkage of DP with other departments

HR
Department

Marketing Admin
Department Department
Depository
Participant
Department

PMS IT
Department department

Every department is interconnected with each other in the organization. The DP

department is also connected with all the other departments of the organization. As per
Mr. Bishankhya the DP department works with other departments in the following
manner.

• The HR department provides adequate human resource to the DP department and

other departments as per requirement.
• Similarly the Admin department supports the other departments with the
necessary office equipments and supplies.
• The IT department of the organization looks over the systems and the servers that
the organization and department use for its daily operations. The IT department
facilitates their support for the steady operation of the works.

22
 • The PMS and Mutual Fund clients are required to open the Demat account for the
share transactions in the organization for which DP department needs to
facilitate.
• Marketing department advertises the organization in different media. It analyses
the market and studies the needs of the clients and introduces new schemes and
offers as per need. It assists the organization to increase the clients and to amplify
the Demat accounts which benefits the other departments along with DP.

3.10. SWOT analysis

SWOT analysis is done by the intern to find out the strength, weakness, opportunities,
and the weakness of the organization during the internship period. The strength and
weakness points out what the organization can do good and what it cannot do. The
opportunities shows the possibilities in future and threats show from what the
organization must be careful of.

3.10.1. Strength
• Young and enthusiastic founder
• Experienced and skilled employees.
• Centrally located company and the branches
• Continuous training to the employee.
• Compassionate Customer Service
• High Goodwill and Trust
• Computerized Information System

3.10.2. Weakness
• Lack of advertisement
• Improper distribution of work
• Rigid with rules and regulation

3.10.3. Opportunities
• Growth and investment in the country
• Global and local economic growth

23
 • Development of capital market

3.10.4. Threats
• Political uncertainties
• Unhealthy competitions
• Shortage of skilled recruits

The SWOT analysis of the NIBL Ace Capital signifies that its strengths overcome its
weaknesses and its opportunities are more than its threats. This is a positive sign for any
organization. Although the organization has not been able to sell their products and
services in the market despite various marketing campaigns, new marketing strategies are
being launched by the organization to tackle the problems. The biggest threat was
competitors, but the organization introduced new schemes and facilities which increased
the number of clients, and if this pattern continues, competitors will no longer be a threat.

24
 CHAPTER IV

ANALYSIS OF THE DEPOSITORY DEPARTMENT

4.1. Department and their major functions

The intern has worked in two major departments of the organization; DP department and
RTS department.

4.1.1. Depository Participant (DP)

As the depository participant (DP), NIBL Ace Capital is the intermediary between the
depository system (CDS and Clearing Ltd.) and the clients.

The individual clients enrolled in the depository participant services has a separate
account and be entitled as the beneficial owner (BO) of that account. The services offer a
secure, convenient and paperless way to keep track of the client investments in shares and
other security instruments over time, without the hassle of handling paper based
transcripts.

The depository participant services will help individual clients maintain their securities
account balances and perform the following functions,

• Open Beneficial Owner account and maintain such

• Dematerialization and re-materialization of securities

• Keep record of securities in electronic form

• Settlement of trades by transferring/receiving the securities from/in BO accounts

• Electronic credit of securities allotted by issuers during IPOs.

25
 • Deposit of non-financial corporate benefits (such as bonus, right shares, etc)
issued by issuers in the Demat Account of BOs

• Facilitation in the pledge/unpledged/freeze/unfreeze etc of Dematerialized

securities

4.1.2. RTS Department

NIBL Ace Capital has been offering a full range of services such as maintaining and
updating register of shareholders, splitting of shares, pledging and transfer of ownerships,
payment of dividends to the valued shareholders of respective companies. As an RTS,
they take the responsibility to execute the transfer of securities of investors received after
completion of required transfer procedures, verify ownership of securities, maintain and
record list of shareholders and carry out other activities related to share registration. It
ensures that all shareholders receive their dividend when due, undertakes all share
transfers, issues share certificates and undertakes any other related services.

Functions of RTS Department

• Registration of transfer and transmission of shares
• Payment of dividends and bonus share issuance
• Custody of undelivered certificates and dividend warrants
• Custody service for debenture and regular interest payments

4.2. Activities performed in the organization

4.2.1. Activities performed in the DP department

Through this internship period, intern got placement in DP department for nine weeks. In
this period, intern was able to learn various procedures and insights about its operation.
Some of the activities performed by intern are as follows:

4.2.1.1. Attending customers and dealing with their queries

The intern dealt with customers to solve their question regarding Demat account, BO ID
number, Mero share password and complaints. She handled personal queries of the
customers and tried to solve problems and also directing them to different departments as
necessary.

26
 4.2.1.2. Sorting of accepted forms of Demat and Mero share
The customers fill forms to create Demat account and Mero Share account. The filled
forms are checked and verified before acceptance. The rejected forms are kept separately
to be corrected by the customers later.

4.2.1.3. Opening/Creating Demat account

The intern used the verified documents to create the Demat account of customers using
the system server. The intern created around 500 Demat account during the course of
internship.

4.2.1.4. Create Mero share account

Along with Demat account, the intern also created around 5000 Mero share account of
the customers in the system, as requested by branch offices. The intern checked and
verified the forms filled by visiting customer in order to create the account, while the
information received from branch office were directly entered in the system.

4.2.1.5. Dispatching Mero share password

Many customers request for their Mero Share password which they fail to receive in
email due to technical issues. The intern dispatched Mero share passwords to requesting
customers after verifying their account and BO ID with help of respective branch offices.

4.2.1.6. Handling telephone calls regarding the issues of DP Department

Handling calls is another important task in the department. Handling calls is the activities
of receiving and calling customers via telephone and transferring phone calls to the
respected departments. Handling telephone calls is to be performed by the staff of
customer service department in a polite, respectful manner and tactfully.

4.2.1.7. Filing and managing documents

Filing and managing documents is one of the important tasks in DP. The Demat forms are
filed in chronological order and the rejected forms are kept separately so that forms can
be easily searched when needed.

27
 4.2.1.8. Use of software in server computer
The intern used the software to make the necessary changes of the clients Demat account.
Here, the intern changed the customer account information like bank details, phone
number, email address etc.

4.2.2. Activities performed in RTS department

After nine weeks of placement in DP, intern got a chance to learn about RTS department
for remaining one week period. In RTS department, customers request for their un-
received share certificate. The intern browsed through the share certificate to search for
the required share certificate from the book as per the name list provided by branch
offices to be dispatched later.

28
 4.3. Distribution/ Allocation of works

Figure 4.1 Gantt chart of Allocation of Works

Activities/Weeks 1 2 3 4 5 6 7 8 9 10

Filing and managing

documents

Printing, Scanning and

Photocopy

Opening and creating

Demat account

Create Mero share

account

Dispatching Mero share

password

Handling telephone calls

and queries of DP
Department

Use of software in server

computer

Finding share certificates

from the book

29
 4.4. Problem solved
During the internship period there arose several problems which was solved by intern
using appropriate techniques and skills. The problems identified and solved by the intern
have been listed below:

4.4.1. Problems regarding Mero share password and BO ID

The customers sometimes do not receive emails and messages regarding their Mero share
password and Demat number due to the error in system. The intern provides the BO ID
and password by confirming their identity in person or through phone.

4.4.2. Correction of customer details

The intern searched the original form of the customer and updates the details after
verifying the original documents. If the details cannot be updated by the organization
alone, the document is then forwarded towards CDS and Clearing Ltd.

4.5. Intern’s Key Observation

An internship has the dual role of providing a means for students to put into practice the
range of techniques employed within constructive theory and understand the relevant
problems associated with in practical application of such measures. In addition, work
experience placements and internships can help the intern acquire the necessary
communication and intra personal skills that are required these days in order to compete
in struggling economic situation. The internship at a reputed merchant baking of Nepal
allowed the intern to learn about the variances between the theoretical knowledge and
prevailing practices in the organization, which are as follows:

• The organization holds large amount of documents and records of the customers
which are not maintained in a systematic order. The old documents are damaged
due to lack of care and poor handling and also due to pest and rodent.
• The entire activities are interconnected through computer network; any glitch in
the system within the network causes the delay in work which also leads to
dissatisfaction in customers.

30
• There are no particular theory regarding how to deal with the customer behavior,
because each of them have different perception and attitude towards services the
organization provides.
• The job description of personnel does not restrict them from performing other
related task as per the requirement.
• The staffs were punctual and perform their task on time. The staffs brought
innovative ideas to work efficiently and effectively.
• The staffs and the management team made the interns feel comfortable and
provided homely environment to work.

31
 CHAPTER V

LESSON LEARN AND CONCLUSION

5.1. Lesson learnt

Through the past three and half years of Bachelors, the students were required to learn
everything from concepts to calculations basing on a hypothetical concepts and formulas.
But in this six months duration, the students were required to work as interns in an
organization which is actually regulating according to current market situation, trends and
laws. The duration of 10 weeks has been full of everyday new experiences and lesson
learnt.

5.1.1. Attitudes learnt

5.1.1.1. Interpersonal communication

The first and foremost thing the intern learnt is communication. The normal
communication that is usually done seems to be different in an organization setting. In
the organization, the work is inter-related. The student (intern) in the initial period of
internship was an introvert , but due to the pressure of being confused and in doubts , the
student was able to communicate the doubts and confusion from time-to-time , which
helped the student perform work more efficiently. Then, the students realized the
interconnection of work and could easily communicate with relevant staff members. The
intern realized that despite of the newness in the position or any personal conflicts, due to
the demand in work the communication amongst reach other is compulsory or rather it is
natural to communicate in doubts and need.

5.1.1.2. Punctuality and work-study balancing

Punctuality is a form of self-discipline. The concept has been long fed into our minds
since school-level. But, it seems that it hasn’t been properly understood. The student was

32
fortunate enough to observe the importance and the impact of timeliness and punctuality
in the organization during the internship. The intern understood the relation of

punctuality with employee productivity. During internship period intern learned

importance of time and its significance in the students career. The student realized that
time management is an important factor of work and life balance (here study). And, the

more it is utilized in important things the more the student was able to create a degree of
balance between internship and assignments of the semester. At first the student was in
unstable situation of tiredness and assignment completion compulsion but with time the
student was able to balance it. The student is now able actually get a taste of how to
maintain a balance between two different aspects in career ahead.

5.1.1.3. Positive attitude towards work

The lesson that the intern learnt was at first very difficult for the student to adjust was the
student’s own attitude towards work. The intern at first had an attitude of working less
and being hasty for completion. But with, counseling and supervision, that attitude shift
was realized by the very intern. The intern’s problem seemed to be hesitant towards
newness, which was pointed and very well taught of how to get over it too for which she
is deeply thankful to the organization.

5.1.1.4. Handling constructive criticisms

During the later period of internship, the student when was familiar which everyone and
personally. But, however later the lesson was learnt that it shouldn’t be taken personally
instead it should be perceived as for our own good and growth and it will improve the
quality of our work only.

5.1.2. Key skills

Some of the skills the intern learnt during the 10 week internship program include

5.1.2.1. Operate various office equipments

The intern used many office equipments during the internship period. The machines like
Copier, Scanner, and Printer etc were used frequently by the intern.

33
 5.1.2.2. The operation of the DP department and the process involved in it
The intern was placed in the DP department for nine weeks and got the opportunity to
learn the day to day operations of the department.

5.2. Conclusion
The objectives set and the outcome of the intern program was covering and even the
achievement was more than it was expected. The intern was placed in the organization to
attain the objectives of the study.

During the internship, the intern was benefited from the exposures and knowledge of the
real business situations. Before this experience her knowledge of merchant banking was
very little and limited to books only. But from the beginning to end of the internship, she
got a practical acquaintance of the organization and the corporate culture. At NIBL Ace
Capital, she was cooperatively supervised by the senior staff and colleagues and help to
acquire the in depth knowledge of merchant banking.

An internship at NIBL Ace Capital not only helped in learning the automated systems,
but also the manual process of doing works in the organization. It helped gain
tremendous knowledge and experience with different departments as well as working
principles of the merchant banking. The intern observed various activities performed at
DP department and also performed variety of tasks by her. Moreover, the intern also got
the opportunity to b involved in the RTS and PMS department and learnt about the day to
day operation of the respective departments.

Finally, the outcome of this internship program is that the intern has built up enough
confidence and knowledge about the merchant banking and can contribute the learnt
abilities to businesses with high efficiency and diligence.

5.3. Feedback to the organization

NIBL Ace Capital has provided sound environment to the working staffs and the interns
however there are some loopholes that should be considered by the organization.

• The workload of organization cannot be always be handled by the staffs and the
available interns which usually creates chaotic working environment during busy

34
 hours. The working staff and he available interns should be given adequate yet not
much workload. The management shall increase the number of interns and/ or
outsource working staff during busy period.
• The intern shall be properly oriented during the start of their internship period
about the organization as whole and different departments under it.
• The work time of interns shall be properly distributed throughout the different
departments which enable the intern to gain experience as well as learn about
different aspects of the organization.
• The queue and token system should be properly managed with a working staff or
intern assigned to the task.
• Basic services like hot water and heater during winter season shall be easily
accessible to the working staffs and the interns.

5.4. Feedback to the college/ university

College has provided us prior information regarding the internship orientation which not
only helped us to select suitable organization but also gave us the idea about the type of
works we needed to perform. The college shall continue to properly plan and help the
students regarding the internship in future as well.

35
 REFERENCES

Accounting Tools . (2021, 04 17). Accounting Tools. Retrieved 06 01, 2021, from
www.accountingtools.com: https://www.accountingtools.com/articles/what-are-capital-
markets.html

Accounting Tools. (2021, 04 17). Capital Market definition. Retrieved 05 21, 2021, from
accountingtools.com: https://www.accountingtools.com/articles/what-are-capital-
markets.html

Beers, B. (2020, 09 18). Investopedia. Retrieved 06 03, 2021, from investopedia.com:

https://www.investopedia.com/investing/primary-and-secondary-markets/

Boyce, P. (2021, 02 11). Capital Markets Definition. Retrieved 06 03, 2021, from
boycewire.com: https://boycewire.com/capital-markets-definition/

Corporate Finance Institute. (n.d). Primary Market. Retrieved 06 01, 2021, from
corporatefinanceinstitute.com:
https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/primary-
market/

Divestopedia. Secondary Market. Retrieved 06 01, 2021, from www.divestopedia.com:

https://www.divestopedia.com/definition/6791/secondary-market

E-finance Management. (2018, 11 26). Secondary Market – Features, Types, Importance

And More. Retrieved 06 03, 2021, from efinancemanagement.com:
https://efinancemanagement.com/investment-decisions/secondary-market

Gordon, J. (2020, 12 19). Secondary Market - Definition. Retrieved 06 03, 2021, from
thebusinessprofessor.com: https://thebusinessprofessor.com/investments-trading-
financial-markets/secondary-market-definition

Groww. Primary Market. Retrieved 05 21, 2021, from groww.in:

https://groww.in/p/primary-market/

36
Gurung. (2004, december). Growth and Performance of Secirities Market in Nepal.

Gurung, J. b. (1999). Share Price Behavior or Listed Companies in Nepal. Tribhuvan

University.

Karki, R. B. (2020, 09 08). The Himalayan Times. Retrieved 06 03, 2021, from
www.thehimalayantimes.com: https://thehimalayantimes.com/opinion/reforming-the-
volatile-capital-market

Kenton, W. (2020, 11 28). Secondary Market. Retrieved 05 21, 2021, from

investopedia.com: https://www.investopedia.com/terms/s/secondarymarket.asp

Kenton, W. (2020, 11 28). Secondary Market. Retrieved 06 03, 2021, from

investopedia.com: https://www.investopedia.com/terms/s/secondarymarket.asp

NIBL Ace Capital. About NIBL Ace Capital. Retrieved 05 21, 2021, from niblcapital:
https://niblcapital.com/who-we-are/

NIBL Ace Capital. (2019). Seventh Annual Report . Nibl Ace CApital.

Oganga, S. (2019). Evolution of the Capital Market. Rohtak, India: Quest Journals.

Pati, S. (2021, 03 13). What is a Primary Market? – Meaning, Types of Issues and
Related Concepts. Retrieved 06 03, 2021, from scripbox.com:
https://scripbox.com/mf/primary-market/

Ritchie, J. (2021, 04 23). MintLife Blog . Retrieved 06 03, 2021, from

mint.intuit.comJoshua Ritchie: https://mint.intuit.com/blog/investing/the-history-of-the-
stock-market/

Samiksha. Your Article Library. Retrieved 06 01, 2021, from

www.yourarticlelibrary.com: https://www.yourarticlelibrary.com/banking/capital-market-
meaning-features-and-importance-of-capital-market/11128

Shrestha, M. B. (2038). The Role of Securities Marketing Center in the Economic.

Tribhuwan University.

Stringham, E. P., & Curott, N. A. (2015). On the Origins of Stock Markets. Oxford
University Press.

37
Thapa, S. History of Share Market in Nepal. Retrieved 06 02, 2021, from
www.investopaper.com: https://www.investopaper.com/news/history-of-share-market-in-
nepal/

Thapa, T. J. (2019, 07 02). Overview of Capital Market’s Role in Nepal. Retrieved 05 21,
2021, from investingnepal: https://www.investingnepal.com/np/opinion/overview-of-
capital-markets-role-in-nepal

The Economic Times. (2015, 09 14). Five types of primary market issuances. Retrieved
06 03, 2021, from economictimes.indiatimes.com:
https://economictimes.indiatimes.com/investments-markets/five-stocks-that-may-lead-
the-bounceback-rally/axis-bank/slideshow/48850597.cms

Van Doosselaere, Q. (2009). Commercial agreements and social dynamics in medieval

Genoa. New York: Cambridge Univ. Press.

Vinay. The Importance of an Internship: Top 5 Reasons Why Internships Are Critical.
Retrieved 05 21, 2021, from capital-placement: https://capital-placement.com/blog/the-
importance-of-an-internship-top-5-reasons-why-internships-are-critical/

38
 APPENDIX / ANNEXURE

Annex: 1 Working in Share Certificate Annex: 1 Working in Archives

Cabinet Section

Annex: 3 Working in RTS RTA 39

department