EXPLORING THE ACCOUNT ACTIVITIES

OF
PANCHAKANYA SAVING AND CREDIT COOPERATIVE PVT.LTD
(New road, Kathmandu)

An Internship Report

Sunita Dahal
PU Reg: 065-2-2-01183-2018
Exam Roll No: 270964
KantipurValley College

Submitted To
Office of the Dean
Faculty of Management
Purbanchal University

In Partial Fulfillment of the Requirements for the Degree of

Bachelor of Business Administration (BBA)

Kumaripati,Lalitpur
January, 2023
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DECLARATION

I, the undersigned declare that the Internship report entitled “Exploring the
Account Activities of Panchakanya Saving And Credit Co-operative Pvt.Ltd.”
submitted to office of Dean Faculty Management, Purbanchal University is a result of
my own research, in the form of Partial fulfillment of the requirements of Bachelor of
Business Administration (BBA) under the guidance and supervision of Dr. Chet Nath
Panta. It has not been previously submitted to any other university or any other
examination.

Sunita Dahal
BBA 7th semester
PU Reg: 065-2-2-01183-2018
Symbol NO: 270964
Kantipur Valley College, Kumaripati
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ACKNOWLEDGEMENTS

The internship Report on the “Exploring the Accounting Activities of

Panchakanya Saving and Credit Co-operative LTD” has been prepared in the partial
fulfillment of the requirement for the degree of Bachelor in Business Administration
(BBA). On the journey of reaching this final step of my work, I would like to thank
all those who have directly and indirectly help and support me in many ways. In other
word, I will not be able to justify my work without acknowledging those who have
significantly contributed to my intern report. So, I want to express my heartfelt thanks
to all of them. It has been a matter of great pleasure for me to complete this intern
report under the supervision of Dr.Chet Nath Panta, lecturer of Kantipur Valley
College. I appreciate his kind guidance, valuable supervision, constructive comments
and inspiration during the preparation of this report.
I would personally like to thank all the officers of PASSOCS under whom I
learnt about the various aspects of the banking industry. Moreover, I would like to
thank everyone who was helped me for preparing this report.
Finally, I would like to extend my humble thanks to all of my family members
who gave me physical, psychological and Economical Supports to complete my BBA
program.
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EXECUTIVE SUMMARY

As per the requirement of Purbanchal University course under BBA program

this report is designed according to the knowledge gained on field base experiences.
The main aim of the 2-month internship program is to provide internee an opportunity
to implement their theoretical knowledge practically, that I experienced at
Panchakanya Saving and Credit Cooperative Limited. This report comprises the
information regarding the day-to-day activities and work environment of the bank.
The report is mainly divided into three sections. The first section include the
introduction of co-operatives (features, principles) history of Co-operative, overview
of PASSOCS, vision, mission, business volume, methodology of report, limitation of
the study , analysis and review is followed in second sections. And conclusions and
recommendation are covered in the last section. This internship report is finalized
with some more specific personal opinions about the organization.
Internship at Panchakanya Saving and Credit Co-operative Limited has been
one of the most significant experiences, I have encountered, as this internship has
aided my professional development as well as helped me analyze my internal
strengths and weaknesses. I feel extremely honored to have received the opportunity
to be involved in real world corporate environment through internship program.
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TABLE OF CONTENTS

DECLARATION.......................................................................................................................i
ACKNOWLEDGEMENTS......................................................................................................ii
TABLE OF CONTENTS.........................................................................................................iv
ABBREVIATIONS.................................................................................................................vi
CHAPTER ONE.......................................................................................................................1
INTRODUCTION....................................................................................................................1
Overview of the Co-operatives.............................................................................................1
Features of Co-operatives.....................................................................................................1
Principle of Co-operatives....................................................................................................3
History of Co-operatives.......................................................................................................4
Overview of Panchakanya saving and Credit Co-operative Ltd............................................5
Vision....................................................................................................................................6
Mission.................................................................................................................................6
Business volume...................................................................................................................6
Nature of Employees............................................................................................................8
Products and Services...........................................................................................................9
Objectives of the study.......................................................................................................11
Methodology...........................................................................................................................11
Problems Encountered during Fulfilling Work Responsibilities.........................................12
Functions of Accounting Department.................................................................................12
Limitations of the study......................................................................................................13
CHAPTER TWO....................................................................................................................14
ANALYSIS AND REVIEW...................................................................................................14
Analysis of Data Collected.................................................................................................14
SWOT Analysis..................................................................................................................16
Critical Analysis of the Theoretical Concepts Relating to Practical experience..................18
Knowledge Gain from the Work Assigned.........................................................................19
CHAPTER THREE................................................................................................................21
CONCLUSIONS AND RECOMMENDATIONS..................................................................21
Contribution of Internship in Knowledge Gain...................................................................21
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Suggestions for Further Improvement................................................................................22

REFERENCES.......................................................................................................................23
APPENDIX............................................................................................................................24
JOURNAL..............................................................................................................................26
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ABBREVIATIONS

BBA: Bachelor of Business Administration

BOD: Board of Directors
LTD: Limited
PASSOCS: Panchakanya saving and credit Co-operative Limited
PU: Purbanchal University
SWOT: Strength, Weakness, Opportunities and Threats
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CHAPTER ONE

INTRODUCTION

Overview of the Co-operatives

A cooperative is an autonomous association of persons united voluntarily to
meet their common economic, social and cultural needs and aspirations through a
jointly owned and democratically controlled enterprise. Cooperatives are
democratically controlled by their members, with each member having one vote in
electing the board of directors.
Co-operative is a financial institution that deals with monetary transaction.
The main Function of co-operative is accepting deposits and advance loan. The co-
operative is established not only for accepting deposits and granting loans but also for
wide ranging services to the different strata of services to the different society.
Cooperatives reduce individual risk in much-needed business ventures and create a
culture of shared productivity, decision-making and creative problem-solving. In the
absence of insufficiency of co-operatives facilities and financial services, economic
development becomes slow. Thus, co-operative is a resources institution for economic
development which maintains the self – confidence of various segments of society
and advances credit to the people. Cooperative businesses are typically more
productive (Chen, 2016).
They allow consumers the opportunity to supply their own needs, gain
bargaining power, and share earnings. They are organized to give members more
control over the services that are offered.
Features of Co-operatives
Retail Co-operatives
Retail cooperatives are retailers, such as grocery stores, owned by their
customers. They allow consumers the opportunity to supply their own need, gain
bargaining power, and share earnings. They are organized as communities, or other
“local groups”, owing their retail stores. Retail Co-operatives are often found in small
communities where local businesses have shut down. Example: hardware, food,
agriculture products and even movie theaters.
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Worker Co-operatives
A worker Co-operative or producer cooperative is a cooperative owned and
democratically controlled by its "worker-owners". There are no outside owners in a
"pure" workers' cooperative, only the workers own shares of the business, though
hybrid forms exist in which consumers, community members or capitalist investors
also own some shares. Examples: bakeries, retail stores, software development group.
Producer Co-operatives
Producer cooperatives have producers as their members, and provide services
involved in moving a product from the point of production to the point of
consumption. Producers can decide to work together or as separate entities to help
increase marketing possibilities and production efficiency. They are organized to
process, market, and distribute their own products. This lessens costs and strains in
each area with a mutual benefit to each producer. Example: Agricultural products,
lumber, carpentry and crafts.
Multi-stakeholder Co-operatives
Multi-stakeholder cooperatives include representation from different
stakeholder groups, such as both consumers and workers. Businesses owned by a
variety of stakeholder groups meet both economic and social goals for sustainable
consumption through their commitment to meeting the needs of all their
owners. Multi-stakeholder cooperatives meet both economic and social goals for
sustainable consumption through their commitment to meeting the needs of all their
owners.
Housing Co-operatives
A housing co-operative is a legal mechanism for ownership of housing where
residents either own shares (share capital co-op) reflecting their equity in the
cooperative's real estate or have membership and occupancy rights in a not-for-
profit cooperative (non-share capital co-op), and they underwrite their housing
through paying subscriptions or rent. Examples: condominiums, rentals, single-family
homes, market rate, and limited equity.
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Principle of Co-operatives
Voluntary and open Membership
Cooperatives are voluntary organizations, open to all people able to use their
services and willing to accept the responsibilities of membership, without gender,
social, racial, political or religious discrimination. Members have control over setting
policies for the co-op and making decision for the co-operative.
Democratic Member Control
Cooperatives are democratic organizations controlled by their members –
those who buy the goods or use the services of the cooperative – who actively
participate in setting policies and making decisions. The elected representatives are
accountable to the membership. In primary cooperatives, members have equal voting
rights (one member, one vote) and cooperatives at other levels are organized in a
democratic manner.
Member Economic Participation
Members contribute equitably to, and democratically control, the capital of
their cooperative. At least part of that capital is usually the common property of the
cooperative. Members usually receive limited compensation, if any, on capital
subscribed as a condition of membership. Members allocate surpluses for any or all of
the following purposes: developing the cooperative, possibly by setting up reserves,
part of which at least would be indivisible; benefitting members in proportion to their
transactions with the cooperative; and supporting other activities approved by the
membership.
Autonomy and Independence
Cooperatives are autonomous, self-help organizations controlled by their
members. If they enter into agreements with other organizations, including
governments, or raise capital from external sources, they do so on terms that ensure
democratic control by their members and maintain their cooperative autonomy.
Education, Training and Information
Cooperatives provide education and training for their members, elected
representatives, managers, and employees so they can contribute effectively to the
development of their co-operatives. They inform the general public, particularly
young people and opinion leaders, about the nature and benefits of cooperation.
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Co-operation among Co-operatives

Cooperatives serve their members most effectively and strengthen the cooperative
movement by working together through local, national, regional and international
structures.
Concern for Community
While focusing on member needs, cooperatives work for the sustainable
development of communities through policies and programs accepted by the
members.
More recently, in response to changing market conditions, some cooperatives in the
United States have experimented with modifying these principles. For example, some
cooperatives have used closed membership to maximize efficiency, profitability and
the return on member equity investments. New cooperative laws in some states have
granted voting rights to non-user investors.
History of Co-operatives
The cooperative movement began in Europe in the 19th century, primarily in
Britain and France. The industrial revolution and the increasing mechanization of the
economy transformed society and threatened the livelihoods of many workers. The
concurrent labor and social movements and the issues they attempted to address
describe the climate at the time. The first documented consumer cooperative was
founded in 1769, in a barely furnished cottage in Fenwick; East Ayrshire. When local
weavers manhandled a sack of oatmeal into John Walker's whitewashed front room
and began selling the contents at a discount, forming the Fenwick Weavers' Society.
In 1810, Rev.HenryDuncanof the Ruthwell Presbyterian Church in
Dumfriesshire, Scotland founded a friendly society to create a cooperative depository
institution at which his poorest parishioners could hold savings accounts
accruing interest for sickness and old age, which was the first established savings
bank that would be merged into the Trustee Savings Bank between 1970 and 1985.
In the decades that followed, several cooperatives or cooperative societies
formed including Lennox town Friendly Victual ling Society, founded in 1812.
By 1830, there were several hundred co-operatives. Some were initially
successful, but most cooperatives founded in the early 19th century had failed by
1840.However, Lockhurst Lane Industrial Co-operative Society (founded in 1832 and
now Heart of England Co-operative Society), and Galashiels and Hawick Co-
 5

operative Societies (1839 or earlier, merged with The Co-operative Group) still trade
today.
Owen (1771–1858) is considered as the father of the cooperative movement. A
Welshman who made his fortune in the cotton trade, Owen believed in putting his
workers in a good environment with access to education for themselves and their
children. These ideas were put into effect successfully in the cotton mills of New
Lanark, Scotland. It was here that the first co-operative store was opened. Spurred on
by the success of this, he had the idea of forming "villages of co-operation" where
workers would drag themselves out of poverty by growing their own food, making
their own clothes and ultimately becoming self-governing. He tried to form such
communities in Orbiston in Scotland and in New Harmony, Indiana in the United
States of America, but both communities failed.
It was not until 1844 when the Rochdale Society of Equitable Pioneers
established the "Rochdale Principles" on which they ran their cooperative, that the
basis for development and growth of the modern cooperative movement was
established.
The U.S has some diverse worker Co-operative such as a home care agency, an
organic bread factory co-op and engineering firm. Some have already incorporated
environment and or Fair-Trade criteria into their products, such as the aforementioned
bread-maker, Organic valley foods and Equal Exchange. Credit unions were
established in the U.S by 1908. Their member owned, co-operative structure, so that
they were only slightly affected by the 2008 securities Crisis.
Overview of Panchakanya saving and Credit Co-operative Ltd.
Panchakanya saving and Credit Co-operative Ltd started its operation on 2048
B.S under Nepal government, Co-operative act 2048 B.S. According to Nepal
Government Cooperative Act 2048, D.S.K. From Kathmandu D.No. Registered in
354/055/056, this Panchakanya Savings and Credit Cooperative Society Ltd. is a
cooperative organization licensed by the Government of Nepal to conduct financial
transactions. The board of directors, accounting committee and high management
level of this organization has people who have gained long experience in local level
renowned businessmen and financial institutions. Its main objectives is to unite the
co-operative member channelize to protect their financial interest. It is not capitalist
and socialist concept but equitable concept. Entire profit and loss of co-operative
organization is distributing among all members on the basis of their investment. This
 6

institution has well managed computer-based software-based accounting software. It

is using Infinity Core Banking Solution software for performing the transaction. It has
2 more service center in Kathmandu valley.
Name of Organization Panchakanya saving and credit Co-operative
Limited
Industry Financial Service
Established date 2048
Chairman Anup kumar Agrawal
Legal Status Co-operative limited company
Pan no 500212576
Registered no. 354/055/056
Ward no. 31
Vision
Every Company has their personal vision PanchakanyaSaccos , has its own vision,”
Build a Community Based Qualitative Excellent Sustainable and Technological
Financial Saccos”
Mission
The mission of the company is to provide quality financial services with
technology including community-based education, information, and training for the
economic, social and cultural transformation of members in accordance with the spirit
of cooperative principles.
Business volume
The capital structure of Panchakanya Saccos for the Fiscal year 2078/79 is as
follows.
Statement of Financial Position
7
 8

Nature of Employees
Boards of Directors
A board of directors is a group of people who represent the interests of a
company’s shareholders. It also provides guidance and advice to an organization’s
CEO and executive team. It is a body of elected or appointed members who got a vast
experience in business and the financial sector. A company’s board of directors sets
policies and advises the executive team on strategy, executive compensation,
dividends, resource management, social responsibility and other matters.

Member

CEO

Member
Chairman

Treasure Member

Table no 1: Organization Structure

Management Team
A management team is a group of high-level associates hired by a business
owner to take on essential responsibilities within the business. These individuals make
up the highest levels of management within a company or business, and each
specializes in a different area of managing a business. Management team helps to
build confidence level of employee and encourage them.
 9

Products and Services

The products and services are the main services offered by the organization to its
clients.
1. Saving Account
A savings account is an interest-bearing deposit account held at a bank or
other financial institution. Though these accounts typically pay a modest
interest rate, their safety and reliability make them a great option for parking
cash you want available for short-term needs.
S.N Deposit Type Interest Rate Minimum Balance (NPR)
1 General Saving 7% 1000
2 Special Saving 7.5% 5000
3 PanchakanyaSpecial 8% 10000
Saving
4 Nari Saving 8% 1000
5 Business Plus Saving 8% 10 lakhs above
9% 30 lakhs above
10% 50 lakhs above
6 Child Saving 9% (1 years)
10% (2 years)
10.5% (3 years)
7 Recurring saving 7% (3 month) Daily basis
8% (6 month) Daily basis
9% (1 years) Daily basis
9.5% (2 years) Daily basis
10% (3 years) Daily basis
8 Happy Days Saving 365 / 380 days (500, 1000,2000,2500) Daily basis (After
Maturity)
2. Fixed Account
A fixed deposit or FD is a type of savings/investment account that
promises that investor a fixed rate of interest. In return, the investor agrees
not to withdraw or access their funds for a fixed period of time. In a fixed
deposit investment, interest is only paid at the very end of the investment
period.
Deposit Type Interest Rate
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Above 1 Months up to 3 Months (Renewal) 9%

Above 3 Month up to 6 Months (Renewal) 10%
Above 6 months up to 1 year(individual) 11%
Above 1 year up to 2 years(individual) 11.5%
3. Home Loans
A sum of money borrowed from a financial institution or bank to purchase
a house. Home loans consist of an adjustable or fixed interest rate and
payment terms.
The criteria for taking home-loans are as follows.
 The loan is provided to any individuals who have regular and stable
source of income.
 This loan can be given to any salaried and self-employed individuals.
 The loan will be provided to Nepalese Citizens only.
 The land and/or house to be constructed / purchased / renovated /
extended /modified should have motor able road (8 feet wide in
minimum) access. Such road should be clearly seen in the blueprint or
be verified by concerned authority (for e.g. ward office).
 The borrower must be at least 21years and should not exceed 60 years
at the time of maturity. The retirement age must be more than the
tenure of the loan.
4. Mobile Banking
Access your account 24/7 over Wi-Fi, data, or SMS for full range of
banking services. We have features like:
 Banking Services
 Alert Services
 E-payment Request
 Spot Banking
 Remittance
 Bank fund Transfer
 Multiple loans/ Deposit Payment
 Utility Payment services
 Top-up and Recharge
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 Load wallets
 Book Flights
Objectives of the study
Objective of Internship
The main Objective of this internship is to get a practical knowledge into the real-
life activities of the financial institutions and be prepared for the practical work
experience in the future by gaining practical knowledge and idea about banking
operations from Nepalese perspective, the main objective are;
 To explore the ways of dealing with customers.
 To examine the performance done by the employees.
 To explore the ways of working environment in an organization.
 To explore the level of customer satisfaction.
Methodology
The term "methodology" is associated with a variety of meanings. (Kerry
2012).In its most common sense, methodology is the study of research methods.
However, the term can also refer to the methods themselves or to the philosophical
discussion of associated background assumptions. A method is a structured procedure
for bringing about a certain goal.
Source of Data
The study is basically carried out the basis of primary and secondary sources
of data.
Primary Sources
Primary source includes direct interface with the customer, observation of
working environment, interact with the member at different level of the environment,
Involvement in activities in the Finance within the limit access allowed to the intern
as under the supervision of the supervision.
● Inquiry with staff members.
● Notes made during the internship program.
● Personal observation.
● Questionnaires with customers.
Secondary Sources
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Secondary source includes annual general meeting report of Panchakanya

saccos, publication and journals, information, data from the website of the finance and
from being the intern of the co-operative while operating infinity software.
● Annual report
● Booklets
Problems Encountered during Fulfilling Work Responsibilities
While fulfilling the work responsibilities there were lots of problem. The
problems are listed below:
 In recent times there has been a growing disquiet in cooperatives due to the
focus on limited group interests rather than collective needs.
 Due to a lack of a fundamental understanding of cooperatives, the movement
was very weak.
 Due to the COVID-19 epidemic, Russia-Ukraine war, trade deficit, inflation,
etc, problems have been created in the economy including cooperative,
banking, financial sector, industrial trade, manufacturing sector etc.
 Due to software system problem.
 Not enough financial analysis.
 Inadequate internal Control.
 Due to lack of records which creates a problem during journal entries.
 Inadequately trained human resources
Functions of Accounting Department
Accounting is the way in which business keeps track of its operation.
Accountants analyze the business finances so the owner can make better decisions.
This information is organized into reports that show the financial health of a
business. The system of recording and summarizing business and financial
transactions and analyzing, verifying, and reporting the results is called accounting. In
cooperative organization accounting department plays a vital role for uplift of an
organization.
The functions of accounting are as follow:
 Helps to create budget and future projections.
 Helps in filling financial statement.
 Dealing with customers and solving their queries.
 Maintaining journal vouchers.
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 Closing accounts.
Limitations of the study
There are several limitations that hindered the proper analysis of this study. These are:
1. Difficult in analyzing the information obtained from respondent due to the
qualitative nature of information.
2. Due to lack of experience in the related field. Due to lack of my experience
that creates a obstacle while working at organization.
3. Time limitation and busy schedule of the staffs also prevented internee from
learning time to time.
4. Due to the privacy of the information that can create a problem in a study.
Only the authorized personnel have the information that cannot be shared, and
it creates a lot problem.
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CHAPTER TWO

ANALYSIS AND REVIEW

Analysis of Data Collected

The following chart has been prepared according to the response of the
customers visiting Panchakanya saccos during sixteen weeks of internship period.
Main reason for choosing PanchakanyaSaccos

20%

40%

40%

Interest Reliable Service Other Services

Figure 2Main reason for choosingPanchakanyaSaccos

The figure represents the outcome survey conducted on customer which shows
the main reason for choosing Panchakanya Saccos. 40% of people choose due to the
interest rate. 40% people choose due to the reliable services and excellent work. And
20% of them are choosing for their other services.
Customer satisfaction with services
Customer satisfaction is what organization seeks for. Hence, I decided to
survey on customer satisfaction on services provided by panchakanya Saccos.
 15

Neutral
10%

Satisfied
30% Highly satisfied
60%

Figure 3 Customer satisfactions with services

Customer said, “I have all my financial transaction done from Co-operative
since New Road branch established. I got better service from this Co-operative than
compared to another. So, I am happy with service provided by co-operative.”
Above the figure shows that 60% peoples were highly satisfied, 30% peoples
were satisfied and remaining 10% peoples were neutral. The data shows the service
provided by Panchakanya Saccos to customer was good.
Attractive Fixed deposit Interest Rate As Compared To other Competitors
Interest rate is what customer are attracts the most. So doing the survey on FD
interest rate the result are given below:

Unsatisfied Strongly Satisfied

20% 20%

Netural
20%

Satisfied
40%
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Figure 4 Attractive Fixed deposit Interest rate as compared to other competitors.

In the survey of 10 customers of Panchakanya Saccos about the interest rate on fixed
deposit. 20% customers were strongly satisfied, 40% customers were satisfied, 20%
customers were answered neutral and remaining 20% customers were unsatisfied.
Customers said “Though the customer service is prompt and reliable but the interest
rate on F.D is disappointing. That is why I preferred another co-operative over
Panchakanya Saccos.”
Repayments of Loans
Loans are provided for the betterment of co-operative as well as customer.

Others
10%

Salary and wages

30%
Business
60%

Figure 5 Repayments of loans

This survey represents that the 60% of people repay their loan from income of
business i.e., 30% of the people repays their loan with the help of salary and wages
remaining 10% others.
SWOT Analysis
SWOT analysis is a technique or approach or methodology to analyze the
overall performance of the Co-operative. “SWOT analysis (or SWOT matrix) is
a strategic planning and strategic management technique used to help a person or
organization identify Strengths, Weaknesses, Opportunities, and Threats related
to business competition or project planning. It is sometimes called situational
assessment or situational analysis”. Weihrich (1982).SWOT stands strength,
weakness, opportunity and threats. Strength and weakness are the controllable by Co-
operative. Opportunity and threats are not controlled by the Co-operative. It is beyond
 17

the financial operation. During my internship period, I got an opportunity to observe

Finance: strength, weakness, opportunity, and threat.
Strengths
The strengths of The Cooperative look at the key aspects of its business which
gives it competitive advantage in the market. Some important factors in a brand's
strengths include its financial position, experienced workforce, product uniqueness &
intangible assets like brand value. In this sense, strength refers to a positive,
favorable, and creative characteristic. Regarding strength of the Co-operative, one of
the staff said,” The dedicated staffs of Panchakanya Saccos are the strength of this
finance. The dedication and hard work of employees is the great strength for
Panchakanya Saccos.”
According to my observations, I found that all the healthy working environment with
well-mannered, hard-working staff.
Weakness
Weakness refers to not having the form and competency necessary for
something. Weakness means that something is more disadvantageous when compared
to something else. In this regard, weakness is characteristic that is negative and
unfavorable. As I asked Manager about weakness he said,” Due to lack of disregard
of credit policy by management as well as absence of motivation."As per my
observation I found that, there is frequent problem in mobile banking as well as due to
limited financial capacity and also due to the low interest rate on fixed deposit as well
as saving accounts.
Opportunity
Opportunity means a situation or condition suitable for an activity.
Opportunity is an advantage and the driving force for an activity to take place. For the
reason, it has a positive and favorable characteristic. As per the opinions of the
manager, “If there is political stability, the rise of the market as well as economic
development can help us to up come with new scheme of products and services”.
Services like loans that help to develop the co-operative environment.
Threats
When I asked about threats to the manager, He said “Due to the increase in
number of competitions, new products and services with best scheme from another co-
operative”. As per my observations, I agree with the manager. As per the study due to
pending high amount of loan that creates problem as well as losses in a company.
 18

Critical Analysis of the Theoretical Concepts Relating to Practical experience

After the collection and analysis of the data, I performed critical analysis of
the theoretical concepts relating my practical experience in the following context.
Communication Theory
Communication theory is a proposed description of communication
phenomena, the relationships among them, a storyline describing these relationships,
and an argument for these three elements. Communication theory provides a way of
talking about and analyzing key events, processes, and commitments that together
form communication.
"Understanding Communication Theory is an invaluable resource for undergraduate
instruction. An organized, rigorous, and accessible communication text, it is an
excellent blend of conceptual and pragmatic discussion. It will enhance the learning
space for both student and instructor &quot” Stephen, W. (2009). I had learnt
communication skills that made me understand how to approach, talk, and respond to
different people of different backgrounds at the workplace. I even found that being
able to apply communication theories to real life scenarios made me a better
communicator. There are some basis elements of communication theory which are
given below:

Figure No. 6: Shannon-Weaver’s Model of Communication

 19

Human Relation Theory

This theory is a school of organizational thought which focuses on worker
satisfaction, informal workplace organizations, and a means of influencing employee
productivity. Unlike scientism, human relations theory does not view workers as
essentially interchangeable parts.
It is an approach to management based on the idea that employees are
encouraged or motivated not only by financial reward but also by a range of social
factors like a sense of belongings, feelings of achievement and pride in one's work)
the theory holds that attitudes, relationships and leadership styles play a key role in
the performance of an organization.
“The human relations theory of organizations has three main components.
First, the theory places an emphasis on the importance of the individual. A worker is
not simply a cog in a machine but an idiosyncratic individual who responds to his or
her environment. Maximizing the productivity of workers requires taking these
individual characteristics into account. Second, human relations theory takes into
account the informal organizations in the workplace. What is important to a worker –
and what influences her productivity level – may not be the official organizational
chart but her or his associations with other workers” Grey, (2009).
In Panchakanya Saccos manager encourage informal relations along with
formal relations. Managers communication effectively without any feeling of ego and
superiority complex and ensure the participation of staffs in decision making, when
employees are involved in decision making, they get chance to share their idea and
they get chance share their graveness. This environment creates motivation to
employee. This will increase productivity and job satisfaction.
Knowledge Gain from the Work Assigned
During internship period in panchakanya saccos which provided opportunity
to gained practical knowledge by physically involved in the practical field. It was a
great learning experience. I got to understand closely about the Account department
of the co-operative. At panchakanya saccos, I found everyone to be honest friendly
polite with good work ethnics. I learnt how to deal behave with customer and how to
handle complains of customer. This knowledge was gained while involving in
opening and closing account, issuing cheque books, handling customers, maintaining
records file, entering journal voucher, correction of checked bills and many more.
Daily dealing or interacting with different customer and panchakanya staffs in
 20

different issues which made my self-confidence level. I also learnt about different
types of the deposit of panchakanya saccos, scanning documentation, records keeping,
communicating behavior with customer, staffs, superiors, and other stakeholders.
Handling sensitive and confidential information with honesty and integrity. During
the 2 month period of internship I learn to manage the time utilize it properly.
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CHAPTER THREE

CONCLUSIONS AND RECOMMENDATIONS

Contribution of Internship in Knowledge Gain

The internship is always a great opportunity for the students to get the field
experience and bridge the gap between the theoretical and practical knowledge. It was
a great exposure to work as an internee at panchakanya saccos which brought the
practical knowledge that internee lacked and gained some experience on banking
activities. Besides, observing and learning various activities in different department,
also gave me the opportunities to perform various tasks. During that period, internee
found that customers are the key focus and greatest asset of the co-operative. During
this internship, I learnt different skills which will help in my personal and professional
life. Further, in past to work under pressure and broadened my knowledge, vision,
ability and confidence to perform in real working upbringing. There was good
communication and healthy relationship in between the different levels of staffs.
Some knowledge gain during the internship program is:
Development of Communication skills:
The regular interaction with the customer has helped a lot to develop
communicating skills. Regular interactions with the customers and the employees
helped me to develop and enhance my communication skills. I became able to interact
with the employees as well as the managers with confidence.
Way of Facing Different Issue:
While working in an account department, I had to face different issue relating
customer’s complaint about slow delivery of services, wrong information delegation.
So this situation had to be dealt with due care to retain the customers.
Way to research and Analysis:
I got chances to do research an analysis about the data. It helps me to upgrade
myself regarding the collection of data and information that are useful on an
organization. It helps me to build up my confidence level.
Way to Alliance Work:
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I got a chance to work in alliance that build my trust and communicate

effectively. Working as teamwork makes a performance looks great as well as
develops the organization.
Suggestions for Further Improvement
As per the report requirement and doing three months of internship in the co-
operative and based on my finding and analysis, I would like to give some
suggestions for their further improvement. The suggestions are given below:
 Giving incentives to those who are related with the interest of the society.
 Better Customer services should be provided in order to attract more clients.
Product scheme and nature should be attractive so that customer can attract
easily.
 Organization should organize programs related to the training for employees
that can have refreshment for management team.
 It should make a good relationship among the member of the community.
 PanchakanyaSaccos should bring some improvisation on ATM card services
that help to gain customer satisfaction as well as benefit of an organization.
 Creates a network of people unified through a common goal where everyone
makes a benefit.
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REFERENCES

Grey, C. (2009). A Very Short, Fairly Interesting And Reasonably Cheap Book About
Studying Organizations. SAGE Publications
Howell,E. (2012). An Introduction to the Philosophy of Methodology. SAGE.
Chen, M. (2016). Worker Cooperatives Are More Productive Than Normal
Companies.https://www.thenation.com/article/archive/worker-cooperatives-
are-more-productive-than-normal-companies/#
Stephen, W. (2009). Communication Theory. SAGE Publication.
Weihrich, H. (1982). The TOWS matrix—a tool for situational analysis. Long Range
Planning. 15 (2), 54–66. doi:10.1016/0024-6301(82)90120-0.
 24

APPENDIX

Questionnaire for Customers

1. Are you satisfied with the product and services?
 Highly satisfied
 Satisfied
 Neutral
 Unsatisfiedsp
2. Does Panchakanya Saccos provide best interest rate as compared to other
competitors?
 Yes
 No
 Neutral
3. How do you repay your loan amount?
 Business
 Salary and wages
 Others
4. The main reason for choosing Panchakanya Saccos?
 Interest rate
 Reliable services
Questionnaire for Manager
1. How is the performance of employee?
2. How do you expect employee performance on day to day basis?
3. What is strength of an organization?
4. What is weakness of your organization?
5. What is opportunity of an organization?
6. What are Threats of an organization?
7. How do you motivate your employee?
Questionnaire for Employee
1. How do you deal with customers?
2. What is your experience regarding working here?
Very Good Good Neutral Bad Very Bad
3. How are your performance evaluate by manager?
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4. What are the challenges that you faces during dealing with customers?
 26

JOURNAL

Day 1
I started my internship in a cooperative today and I was introduced to my
supervisor, who is the head of the accounting department. I was given a brief
overview of the cooperative’s accounting system and the various tasks that I would be
responsible for during my internship.
At first day they didn’t assign me any task, I was just there to observe the
working environment of organization. I also spent some time reviewing the
background of cooperative from established year. This helped me to understand the
nature of the organization. The supervisor of the organization was friendly, and I was
comfortable with them.
Day2
Today I reached at sharp 10:00 am. I was bit nervous as well as excited too
about the task that would provide by my supervisor. I was unknown about the
software system my supervisor Ms.BadalDhakal taught me about the core banking
solution. She has given the task of processing a large number of invoices. This
involved verifying that all the information on the invoices was correct and that all the
amounts were properly recorded. She taught me how to deal with customer and how
to satisfy them with our services. In the afternoon, I had a meeting with the head of
the accounting department to discuss the progress of my work and any areas where I
needed additional support.
Day5
I spent the morning reviewing the cooperative's financial reports from the
previous quarter. This was a great opportunity to see the results of the work that I had
been doing over the past few days and to understand the impact of the financial
decisions made by the cooperative. Every day was a new challenging day for me. I
started to learn from my mistake and hope not to repeat them. I got chances to assist
in reconciling bank statement of previous month.This involved comparing the bank
statements with the cooperatives own records to ensure that all transactions were
recorded correctly.Thus the day was good as well as enjoyable.
Day 15
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Every day my learning skills were developing day to day. Slowly I started
knowing the working environment of an organization .I felt comfortable with them.
Now I started working in ledger books that was pending since last few months. I
started doing “Chalani” of the given invoices. Moreover I got chances to look over
loan department in which I gain lots of knowledge. Relating to Shareholders I too got
chances to look over it. Today I learnt a lots of things that can help me in further.
Day 30
I had same schedule for few days. I reached at sharp10:00 am and sat on my
department. The work pressure was not so overloaded. On that day my supervisor
taught me about the Deduction of Tax while entering the bills. Those bills were only
verified that have their PAN no. While deducting the tax over company we charge
15%. The bills should be verified by Senior Account officer .After the completion of
work, I returned back home at 6 pm.
Last day
Today was my last day at the cooperative and I spent the morning tying up
loose ends and completing any final tasks. I had a final meeting with my supervisor to
discuss my experience at the cooperative and to receive feedback on my work. I was
very grateful for the opportunity to work in a real-world accounting environment and
to gain valuable experience in this field. My supervisor as well as whole management
team wishes me a great future a head. They have fully supported me in this intern
period.