Confidential source: Family reationship.

Confidential source: Family reationship.

Upload some secrete documents of Nepal Unified Moist Party

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Family reationship.

I even don't remember that way that you have talked with me, I Know it was the game and the game that you have played with me was so wonderful and smashing too, I know I am your football and you kicked on me so much and so much.
Why this happend to me only, I was justa game that you played. The moment i have faced was unforgatable and it's not possible tot forgive you.
You know life has different parts and it is also different then other, I know what is life and how it was born and grow.  When we become child in the childwood our family goanna tech about their strungle and about the upcomming life, May they never goanna teach wrong side to us, May they never goanna teach wrong wasy to us, and may they never goanna lies to us in the childwood., eventually when we becaome in the final year of our School they have a hope from us to become the leader of family and the main responsiability of our family will be pushed our life and it will be stronger.
All of our family senior member of our are to be responsiable for us, but sometime they missused us to used  & especially our elder member of our family missused us, brother especially.....

Wildlife : Where people want spent their time all the day.

What is wildlife?
The answer is: "Wildlife" is a term that refers to animals that are not normally domesticated (raised by humans). They are a living resource that will die and be replaced by others of their kind. Individual animals cannot be kept beyond their life span. But if managed carefully, populations of wildlife can be conserved practically forever..
Let you alo know it from Amazion Associates: Kindly click the following link & picture & also saw the wildlife photofraphy of the year......& a lot more.

Narayan Gopal and his criminal songs "WIKIPEDIA Source"

Narayan Gopal(Nepali: नारायण गोपाल गुरुवाचार्य) is by far the most prominent and popular singer in Nepali music history. He is popular as Swor Samrat (Nepali: स्वर सम्राट, meaning: Emperor of Voice) in Nepali music. He is well known as a singer but was also an accomplished composer. His voice range allowed him to sing songs of every genre of Nepali music. His songs are often richly orchestrated with the sitar, harmonium and flute.

Personal Life

Narayan Gopal was born to a Newar family in Kathmandu. His father was a classical musician and wanted his son to follow his footsteps. Narayan Gopal was interested in music from an early age but not exactly into classical field. He studied music in India.
The late Gopal Yonjon and Narayan Gopal were good friends and "mits".(It's a nepali custom where good friends enter into a kind of a lasting friendship. This is generally seen as strengthening the friendship bond.) Narayan Gopal has sung many beautiful and soulful songs composed by Gopal Yonjon.
Narayan Gopal married his long time fan from Darjeeling, Pemala Lama. They do not have any children.

Some of his most popular songs

"Kehi Mitho Baata Gara", "Yo Mutu Lai","Yo Samjhine Man Cha"(This Heart remembers) and "Saawan ko jhari bani"(Like the Autumn Rain), "Manche ko Maya"(Love of person).
Narayan Gopal has been accorded with title "Swar Samrat" (literally, Emperor of Voice) which affirms his position as the supreme virtuoso of Nepali music. The cassettes and CDs of his music still make significant sales and still some songs are the main attraction of many radio programs in Nepal.

His musical journey

During his career, Narayan Gopal rendered his voice to over 550 compositions including modern songs, ballets, dance dramas, movies and patriotic songs. These songs have contributed in enriching the store of Nepali Music and popularizing Nepali music even beyond political frontiers. Most of his songs are melodies. It is said that he was very selective about the songs he sang. Although 550 songs is not a lot for some of his caliber, they are outstanding in some ways—be it the lyrical depth or superb rendition. He had given his best to each and every song. They touch the sentiments of every heart and stir the emotions.

Awards and recognitions

The late Narayan Gopal is regarded as the most popular in the entire domain of modern Nepali music. Narayan Gopal, who has enchanted millions of listeners by his immortal melodies has been awarded several national honors among which, Indra Rajya Laxmi Award, Chhinalata Award for vocals, Jagadamba Shree, Trishakti Patta third (awarded post humously) Urvashi Rang and several other honors and decorations bear testimony to his widespread popularity and the eminence he has achieved as a favorite singer of millions.

A comparative analysis of capital structure management between Nepal Investment Bank Ltd. And Himalayan Bank Ltd.

INTRODUCTION

1.1   General Background of the Study:

   

            Nepal is a predominantly agricultural landlocked country. Its economy is almost based on agriculture. Though dependence is decreasing day by day and approximately 89% of total population is still hanging on agriculture. Thus a major source of income of the people as well as the country is agriculture. But the position of the agriculture in the country is not so good and the entire country is loosing its revenue from agriculture day by day because of lack of sufficient capital, fertilizer, irrigation, latest technology, professionalism in agriculture, supportive government policy and stable government. People are unable to handle their livelihood from this profession are they are changing their profession toward trade, commerce and industry.

             Fund or capital is the most essential part for the development of any sector. Establishment of trade and industry is impossible in the absence of sufficient capital. In the context of capital flows, the bank plays a vital role as a financial intermediary. Without banks, capital flow could not be systematic. In the present competitive business market, no one can operate their business successfully only with their own capital. Everyone should depend upon financial intermediary even for the small scale business. Thus the bank plays the key role in the economic development of the country.    

             The business world today is entirely different from past. The social needs have increased tremendously in quantity as well as in quality. So establishment and development of business is essential and it is possible only if there is sufficient fund. The type of financial needed by a firm largely depends upon the type of enterprise and varies from one firm to another.

             There are two sources of financial, internal and external. An internal source of financial mainly consists of retained earnings of the enterprise, different kinds of reserves and provision for depreciation. With the development of finance and financial institutions, it is no longer for an enterprise to finance from its internal sources alone and have a balance budget. Furthermore the innovation of corporate firm of business organization with the principal limited liability and efficient technique of acquiring capital through the issue of various ownership and debt securities has enable investors to satisfy their diverse assets preferences. So it is possible for a corporate enterprise to attract the external funds from the public by issuing shares debentures. Issuing shares to the public is essential under government rules and regulation.

            Success and failure of any organization or banks mainly depends upon the structure of its optimum capital structure. It determines the profit making power of the bank as well as it helps to reduce its risk to minimum level. Increase in equity capital decreases the earning power as well as risk to its shareholders. Similarly increase in debt capital increase the profit as well as risk to the shareholders. Therefore the bank should manage the optimum capital structure so that profit and risk both could be managed well.

            Hence banking is the source for economic development. The bank itself should have strong and sufficient capital to mobilize the finds into a profitable direction. Without smooth and sound capital structure, a bank could not be able to maintain the financial position into a desired goal.

1.2   History of Banking

    

Financial development of a country largely depends on effective mobilization its internal resource. Banks and Financial institutions play pivotal role in the development of the country by performing the task of effective mobilization of its internal resources. It helps in growth of agriculture, trade, commerce and industry of national economy. The banking sector is largely responsible for collecting public deposit in various in various types and deploying these in the society by lending in different sectors of economy.

            According to Dahal, B. and Dahal, S. (2002)," Banking has crossed various phases to come to the modern form. Some sort of banking activities had been carried out since the time immemorial. Traditional forms of banking were traced during the civilization of Greed, Rome and Mesopotamia. Merchants, goldsmiths and moneylenders are said to be the ancestors of modern banking."  

            According to Paul A.S., "Banking concept was also in existence even in ancient period when the goldsmith and reach people used to issue receipt to common people against the promise to safe keeping their valuable items. On the presentation of receipt, the depositors would get back their gold and valuables after paying a small amount for safekeeping and saving."

Merchants

            Business activities have been carried out since the time immemorial. Merchants had remit money from one place to another. It was very difficult to carry physical money (coins) each time when trading was executed. The merchants were so popular and creditworthy that the letters issued by them treated as good as money. They issued to make trading activities based on these letters and settle the outstanding (due to/from) through actual coins on periodical basis. These letters gave birth to modern negotiable instruments.

Goldsmiths

            Goldsmiths had very sound credit standing in the society. They used to have safe to keep valuables. Fear of theft and robbery led people keep thief valuables (gold, silver, metallic coin) in the custody of the goldsmiths. Goldsmiths used to charge commission for safe keeping and used to return on demand. The depositors had to visit goldsmiths for part and full withdrawal of their valuables. In order to remove the inconvenience, goldsmiths started issuing a receipt to the depositor with a nation "I Owe You (IOU)…" which could be transferred to any person the depositor wished. This gave birth to the bank note.

Money-lenders    

            Moneylenders used to give loan to the needy public out of their own treasury. Latter on, savers started depositing their savings/deposits with the moneylenders.

            Goldsmiths and moneylenders experienced that all the money deposited with them were not withdrawn at a time. Some used to deposit while some used to withdraw, but a large amount used to remain with them. They started offering interest on those deposits and started utilizing those funds to disburse the loans to needy people. They used to keep a fraction of total deposit in the form of cash to honor withdrawal demands and rest was lent. The principal of fractional reserve is the foundation of liquidity in modern banking.

            Such tasks previously performed by merchants, goldsmiths and moneylenders are now a days being performed by various types of banks in modern ways, Banks refer to any firms that are basically concerned with the transaction of money; however, today's banks are for different purposes.

1.3   Emergence of modern Bank:

           The first modern bank of the world of is bank of Venice, set up in 1157 is Venice, Italy. Subsequently, bank of Barcelona in 1401 and bank of Genoa in were established.

             The Lombard's migrated to England & other parts of Europe from Italy are   regarded for their role in the development & expansion of the modern banking; bank of Amsterdam set up in 1609 was very popular then. The banks of Hindustan established in 1770 are regarded as the first bank in India. Though bank of England was established in 1694, the growth of banks accelerated only after the introduction of banking act 1833 in United Kingdom as it allows opening joint stock company banks. Those modern banks gradually replaced gold-Smiths & Money-Lenders.

1.4   Emergence of Bank in Nepal

             Established of Tejaratha Adda by the then Prime Minister Ranndip Singh (B.S. 1933) was the first step towards the institutional development of banking in Nepal .Tejaratha Adda did not collect deposits from the public but gave loans to employees & general public against the bullion.

            The banking history of Nepal is not more than seven decade. Nepal bank Ltd. is the first of the country established in 1994 B.S. Till the establishment of Nepal Rastra Bank, Nepal Bank ltd. was also discharging the function of central bank. as a result, Nepal  Rastra bank was established in 2014 B.S. The objective of the bank as to promote, develop & facilitate to banking sectors.

            As the government provided favorable industrial policy, foreign investor was also attracted. As results some joint venture's banks were established after 2040 B.S. Among them Nepal Arab bank in the first joint venture's bank of Nepal. Then after so many JVB's are established in Nepal (as N.S. B.I., N.B.nepal H.B.etc.), Bank is business organization that receives & holds despite & funds from others makes  loans & extends credits & transfer funds by written. Having observed the success of Nepal based on marketing concepts and also because of liberal economic policy adopted by the successive government.

            According to Dahal, B. and Dahal, S. (2002),"Liberal and market oriented economic policy adapted by GoN since mid 1980s, allowed foreign banks on joint venture basis to operate in the country on the approval of Nepal Rastra Bank. As a result, Nabil Bank Ltd. (Nepal Arab Bank Ltd.), Nepal Investment Bank Ltd. (Nepal Indo-Suez Bank Ltd.) and Standard Chartered Bank Nepal Ltd were established in 2041, 2042 and 2043 B.S. respectively.

            To regulate the commercial banks and accommodate them into the main stream of national economy "Commercial Bank Act-2031" was in 2031B.S.

             There are 30 licensed commercial Banks in Nepal. These commercial banks have given a new horizon to the financial sector of the country regarding healthy competition, foreign capital investment, technological transfer and experience and skills. The name of 30 Licensed Commercial Banks are in thesis.

       

1.5   Profile of the Banks

The organizations under research are following:

   A. Nepal Investment Bank Ltd. (NIBL)

            Nepal Investment Bank Ltd. (NIBL), previously Nepal Indosuez Bank Ltd., was established in 1986 as a joint venture between Nepalese and French partners. The French partner (holding 50% of the capital of NIBL) was Credit Agricole Indosuez, a subsidiary of one largest banking group in the world.

            With the decision of Credit Agricole Indosuez to divest, a group of companies comprising of bankers, professionals, industrialists and businessmen, has acquired on April 2002 the 50% shareholding of Credit Agricole Indosuez in Nepal Indosuez Bank Ltd.

            The name of the bank has been changed to Nepal Investment Bank Ltd. upon approval of banks Annual General Meeting, Nepal Rastra Bank and Company Registrar's office with the following shareholding structure.

      A group of companies holding 50% of capital

      Rashtriya Banijya Bank holding 15% of the capital.

      Rashtriya Beema Sansthan holding the same percentage.

       The remaining 20% being held by the General Public (which means that NIBL is a company listed on the Nepal Stock Exchange).

B. Himalayan Bank Limited

            Himalayan Bank Limited was incorporated in 1992 by a few distinguished business personalities of Nepal in partnership with Employees Provident Fund and Habib Bank Limited, one of the largest commercial Banks of Pakistan. Banking operation was commenced from January 1993. Himalayan Bank is the first commercial bank of Nepal whose maximum shares are held by the Nepalese private sector. Besides commercial banking services, the Bank also offers industrial and merchant banking services.

            Himalayan Bank has total network of 17 branches across the Country and a counter in the premises of the Royal Palace. There are six branches in Kathmandu valley. In addition, the bank also has ten branches outside Kathmandu valley.

1.6  Objectives of the Study

            This study has been conducted to accomplish the following objectives:

(a) To find out comparative position of capital structure of Nepal Investment Bank Ltd.  (NIBL) and Himalayan Bank Ltd. (HBL).

(b) To determine the relationship between interest expenses and operating of NIBL and HBL.

(c) To measure the cost of capital of NIBL and HBL.

(d) To examine the different sources of capital structure of the two banks.      

    

1.7  Statement of the Problem        

           

The financial problem is to be considered as one of the greatest obstacle for overall socio-economic development of any country. Commercial banks can play a predominant role in the development of agriculture, industry, commerce and trade. In underdeveloped and developing countries, there are not quite commercial activities of financial institutions. In Nepal commercial banks have not been organized and developed, there is insufficient capital which can help to prevent financial problem. So, they are still in the age of growth and development. Most commercial banks of Nepal miss invest their capital due to lack of proper knowledge of utilization. Some commercial banks have lost a lot of capital to the selfishness i.e. they give loan to their relatives, those who give bribe to them, those who have sourced and force.

             Banks accepts various types of deposits from the general public and lends them to various sectors for generating some return at the same time assuming some level of risk associated with the specific sector. Thus, there is risk and return. To minimize risk for a given level of return or to maximize return for a given level of risk, banks have to manage their optimum level of capital structure. But Nepal Bangladesh Bank Ltd, Nepal Bank Ltd, and Rastriya Banijya Bank Ltd, have huge loss despite their strong capital and deposit because of the lack of their capability in capital structure management. The matter of assisting in economic growth of the company growth of the company by these banks is far away from the reality and in this context of being burden to themselves with the proportion of nonperforming loan about 60% of their total loan portfolio.

              Other commercial banks are also not sowing enough consciousness towards the capital structure management. Every bank seems to go after a few lucrative business sectors or business houses and for under price war. This has disproportionately benefited a few business people at the cost of larger section of the population. The risk- return trade-off has not been properly analyzed before making capital proportion, which has result the higher cost of fund than the acceptable level. Current situation of banking sector shows that the growth of non-performing assets (NPA) has been faster than the growth of credit due to the higher cost of fund and poor management of loan.

           In last few years, the trend of lunching joint venture banks seems to be stopped and some of the foreign banks have withdrawn their investment from Nepal. Withdrawal of foreigners is due to some anomalies in Nepalese banking sector irrespective of what the withdrawing foreign bank would say officially to the Nepalese authorities or the general public. If such situation of shortsightedness prevails longer, Nepalese banking sector may fall into crisis as in East and Argentina in the past and even the public deposits made in these banks may be unsecured. To avoid such potential crises, the concerned authorities i.e. Nepal Rastra Bank and commercial banks themselves have to pay their proper attention in their capital structure management. Rare researches made regarding this issue also indicate the less perceived importance for such a sensitive fact.

        This study will attempt to answer the following questions:

a)      How far the banks under study are able maintain the optimum capital structure?

b)      How far the banks under study are able to generate income from utilization of debt efficiency?

c)      What are the factors effecting financial efficiency?

d)     To what extent the investors of these banks are getting benefits from its current operation?

e)      What are actual overall financial conditions of these banks?

f)        Is return level of the banks under study satisfactory in relation to the risk?

1.8   Significance of the Study

                 

This study is concern with the capital structure management of Nepal Investment Bank Ltd. and Himalayan Bank Ltd. It is expected that this study will significantly contribute towards the field of capital structure.

The banks capital structure should be managed in such a way that the fund could be provided efficiently and effectively. The goal of the study is to examine the efficiency and performance of these tow banks management as reflected in the annual financial reports.

      The following points justify the study:

a)      The study will help to specify the entire glory of these two banks especially in the sector of capital structure.

b)      The study will help to show the financial position of the banks to the investors as well as concerned management.

c)      The study will help to find out which bank is showing comparatively good performance in the economic development of the country.

d)     The study will help to indicate strengths and weaknesses of these banks especially in the sector of capital structure.

e)      Optimum capital structure is the key of success of any organizations to lack of sound knowledge of capital structure, many organizations failed in our country. So, this study will help to the concerned management to improve their efficiency.

f)       This study will also helpful to depositors, lenders, borrowers, policy madder, shareholders and customers of the banks under research.

1.9   Limitations of the Study

     

Every work has its own limitations due to lack of time, resources and knowledge. The work has been completed within the periphery of the limitations. Despite ample efforts on the part of the researcher, this study was limited to:

a)      This study has been based on secondary sources of data i.e. annual reports of the banks, Nepal Rastra Bank and government publications and other related journals. Thus, the result of the analysis depends on the information provided by the concern offices.

b)      The study covers only the latest seven fiscal years.

c)      The study covers the capital structure management and its impact on risk- return trade-off the banks under research.

d)     This study has been conducted by taking only two commercial banks.

e)      Standard normal performance level is not available. So, interpretations of data depend upon judgment and common sense. In this context, concerned experts are also consulted.

1.10   Organization of the Study

         

This study has been organized in five chapters. Each devoted to some aspects of the capital structure of these two banks. The titles and contents of each chapter are briefly mentioned below.

Chapter 1: Introduction

             It describes the introductory part of the study where general background , statement of the problem, objective, limitations, significance and organization of the study are investigated.

Chapter 2: Review of Literature

             It deals with review of available literature of related studies. It contains conceptual framework, major studies, review of books, review of articles and reports.

Chapter 3: Research Methodology

        It describes the research methodology adopted in carrying out the present research. It includes research design, sources of data, method of analysis, and limitation of the study, financial and statistical tools. According to Kothari C.R. (1991), “Research Methodology refers to the four various sequential steps to be adopted by a researcher in studying a problem with certain objective in view. Research methodology basically describes the methods, processes, tools and techniques applied in the entire process of a scientific research.”

According to Michael V.P., (2000), “Research is the process of systematic and in-depth study or search for any particular topic, subject or area of investigation backed by collection, presentation and interpretation or relevant details or data.”

In this chapter, “Capital structure management” of two banks has been analyzed. It describes about the capital structure management of these two banks. The major objectives of this study include the analysis of the comparative trend of various variables by measuring the relationship between debt and equity capital and the analysis of financial decision through correlation analysis.

 Chapter 4: Analysis and Interpretation of Data

           It concerns with presentation and analysis of data. It includes the analysis of financial indicators, analysis of mean, standard deviation, coefficient of variation and regression analysis. It consists of analyzing capital structure of the banks under research. The main focus of this investigation has been to analyze the capital structure of NIBL & HBL. For this purpose four types of data regarding capital structure, profitability, market related ratio and statistical analyses of the two banks were collected. The statistical analyses of the data and obtained results have been reported in this chapter. This chapter has been divvied into following parts:

1)      Analysis of Capital Structure

·         Analysis of Fixed Deposit

·         Analysis of Shareholders Equity

·         Analysis of Financial Mix

·         Analysis of Debt Capacity

·         Capital Structure Position of the Banks

·         Equity Capitalization Rate

2)      Profitability Analysis

·         Expenses Analysis

·         Return Ratio Analysis

3)      Market Related Ratios

·         Earning Per Share

·         Divided Per Share

·         Dividend Payout Ratio

·         Market Value Per Share

·         Price Earning Ratio

·         Book Value Per Share

4)      Statistical Analysis

·         Correlation Coefficient Analysis

·         Test of Hypothesis

Chapter 5: Summary, Conclusion and Recommendation

            This chapter comprises summary, major findings of prevailing issues and some recommendation to the organization that help them to improve their miserable situation to some extent.