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A comparative study on fund mobilization of HBL and EBL.

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CHAPTER-I

INTRODUCTION

 

1.1. Background of the Study

Generally the organization that transacts money is called bank. Bank and Banking has always played a significant role for the financial activities in the business. So bank is the major need for various developments. Bank collects fund as a saving from the community and invest them into most desirable and highly fielding sector as a full to a process of economic development. It develops saving habits of people. “The importance of the banking as the nerve center of economic development can not be over emphasized and it is said that bank which are the need of and great wealth of country have get to be kept very scared. Just as water or irrigation, good banks are for the country’s industry and trade.( Desai: 1967 ,120)

 

The main objectives of the bank are collection of amount from public in a form of saving and providing short-term loan (for the development of industry, trade, and business) to the ones in need. The development of country’s economy is impossible without expansion of banking function in both rural and urban area of the country. Development of trade and industry is dependent upon the development of banking facilities.  So it is said that the bank is backbone of economic development in modern society. Banking institutions are inevitable for mobilizing resources, for finance and social economic development of a country and which is important to all parties i.e. generally public, business, organization, government and other small financial institution. The development of a country is always measured by its economic development through economic indices. That’s why every country has given emphasis on boost up its economy. At present, the financial institutions are viewed as catalyst in the process of the economic growth. The mobilization of domestic resources is one of the key factors in the economic development of a country.

 

Bank is resource for economic development that maintains economic confidence of various segments and expands credit to people. Bank means “A financial establishment for the deposit, loans exchange or issue of money and for the transmission of funds.” (Bhandari: 2003, 119)

 

The bank draws surplus money from the public, who cannot use the money at the time and lends to those who give attention to use for productive purposes. Bank lends the loan to the customers; gain interest amount, the bank draw the money from institution or individual or people pay the interest amount by certain interest rate. Banking institutions collect scattered financial resources from the mass and invest them among those who are associated with the economic, commercial, and social activities of the country.

 

“Bank assists both the flow of goods and services from the products to the consumers and the financial activities of the government. Banking provides the country with a monetary system of making payment and is an important part of financial system, which makes loans to maintain and increase the level of consumption and production in the economy.” (The American Bankers Association: 1972, 162)

 

A new organized financial institution companies, commercial banks and other financial intermediaries play an important role for the development of a country.

 

1.2. Development of Banks

In Worldwide Context

The concept of banking developed from the very beginning of the economic activities. First of all, the effort was made by the ancient gold and valuables. Under such arrangements, the depositors would have their gold for safekeeping and in turn were given a receipt. Whenever receipt was presented, the depositors would return back their gold and valuable after receiving a small payment as fee.

 

The word “Bank” is orient in medieval age in 1171 AD from an Italian word “Banko.That means the place where people come together for different transaction. The “Bank of Vanice” was the first bank, which established in Italy in 1157 AD as a first modern bank. Then after in 1401 AD “Bank of Barcelona” is established in Spain, Bank of Geneva established in 1407 AD, Bank of Amsterdam established in 1609 AD. But the credit of the development of modern banks goes to “The Bank of England” which was established in 1694 AD in London. The growth of banking accelerated only after the introduction of the banking Act 1883 in United Kingdom as it allowed opening joint stock company banks.

 

In Nepalese Context

The growth of banking in Nepal is not so old. In the 14th century, Jayasthiti Malla – a king of Kantipur classified people in 64 groups according to their occupations, “Tanka Dhari” was one among them who used to lend money at a fixed rate of interest. During the period of Ranodip Singh, the Prime minister, a government institution called “Tejarath Adda” was established around 1887 AD for providing easy and cheap credit at 5% interest to the public on securing of gold and silver.

 

“In the overall development of banking system in Nepal, the “Tejarath Adda” may be regarded as the father of modern banking institution and for quite a long time it tendered a good servants as well as to the general public.” ( Shrestha: 1995, 4)

 

The development of modern bank started from the establishment of “Nepal Bank Limited” in 1937 AD with put forth effort of government and public, as a commercial bank with 10 million authorized capital. The authorized capital was contributed by the government 51% and remaining by public 49%. It started to provide depositing and borrowing facilities to commercial as well as agricultural sectors. The government felt the requirement of a central bank and established “Nepal Rastra Bank” in 2013 BS. It played leading role in development of banking in Nepal and also controlled the monetary culture in the country. NRB was established with the objective of supervising, protecting and directing the functions of commercial banks. Likewise, raising of banking function get popular and more complicated, thus NRB suggested for the establishment of another commercial bank and in 2022 BS(1966 AD) “Rastriya Banijya Bank” was established as a fully government owned commercial bank. Now its branches are diversified all over the country. It made another milestone in the history of growth of banking.

 

A part from this, NIDC was established in 1959 AD & Agricultural Development Bank established in 1976 AD and other development bank and financial institutions were established & continue to establish and are contributing to the economy and banking tradition in Nepal. In 1990 AD, after reestablished of democracy, the government took the liberal policy in banking sector. As an open policy of HMG’s to get permission to invest in banking sector from private and foreign investor under Commercial Bank Act 2031 BS, different private bank are getting permission to establish with the joint venture of other countries.

 

1.3. Introduction of Commercial Bank

Commercial bank is a financial institution which transfers monetary sources to users. In the process of such intermediation, commercial bank develops funds raised from different sources into different assets with a prime objective of profit generation an administrative assistance. According to Commercial Bank Act 2031, “Commercial banks are those banks which are established under this act to perform commercial function.” The commercial banks pool together the savings of the community and arrange for their productive uses. They supply financial needs of modern business.

 

“The commercial bank has its own role and contribution in the economic development. It is a resource for the economic development; it maintains economic confidence of various segments and extends credit to people.” (Grywinski: 1991, 87)

 

These banks are established to improve people’s economic welfare and facility, to provide loan to the agriculture, industry and commerce and to offer banking services to the people and the country. It provides internal resources for developing countries economy. It collects diversified capital from different parts of country through its own branches.

 

Commercial bank is a corporation which accepts demand deposits subject to check and makes short-term loans to business enterprises, regardless of the scope of its other services.

The main purpose of establishing RBB was to contribute to the development of banking system, particularly in the remote and hilly regions, providing more banking facilities to the public.

 

Commercial Banking Scenario in Nepal

Nepal Arab Bank Ltd. (NABIL Bank Ltd.) was the 1st joint venture bank established in 1984 AD, joint ventured with United Arab Emirates Bank. Then two other banks, Nepal Indosuez Bank Ltd. (Nepal Investment Bank Ltd.) with Indosuez Bank of Finance and Nepal Grindlays Bank of London were established in 1986 AD. Himalayan Bank Ltd. joint ventured with Habib Bank of Pakistan and SBI Bank Ltd. with State Bank of India was established in 1993 AD. Everest Bank Ltd. joint ventured with Punjab National Bank, India (early it was joint ventured with United Bank of India, Calcutta) and Nepal Bangladesh Bank Ltd. with IFIC Bank of Bangladesh were established in 1994 AD., Bank of Kathmandu joint ventured with

 

SIAM commercial Bank Public Co., Thailand was established in 1995 AD. And Nepal Bank of Ceylon joint ventured with Ceylon Bank of Sri-Lanka was established in 1997 AD. Besides this, Lumbini Bank Ltd., and NIC Bank Ltd. are also operating from 1997 AD and Kumari Bank Ltd. & Siddhartha Bank Ltd. served as a new commercial bank of Nepali financial market.

 

All of these banks barely follow the directive and policies of Nepal Rastra Bank (NRB). NRB functions as the central Bank of Nepal. NRB formulates financial and monetary policies under which commercial banks, financial institutions are functioning.

Nowadays there are 31 commercial banks operating in Nepali financial market along with 9 joint venture with foreign investors. Lists of licensed commercial banks are presented below:

 

List of Licensed Commercial Banks

Mid-January 2011

 Commercial BanksOperation Date (A.D)Head Office
1Nepal Bank Limited1937/11/15Kathmandu
2Rastriya Banijya Bank1966/01/23Kathmandu
3Nabil Bank Limited(established as Nepal Arab Bank Limited)1984/07/16Kathmandu
4Nepal Investment Bank Limited (established as Nepal Indo – Suez Bank Ltd.)1986/02/27Kathmandu
5Standard Chartered Bank Limited (established as Nepal Grindlays Bank Ltd.)1987/01/30Kathmandu
6Himalaya Bank Limited1993/01/18Kathmandu
7Nepal Bangladesh Bank Limited1993/06/05Kathmandu
8Nepal SBI Bank Limited1993/07/07Kathmandu
9Everest Bank Limited1994/10/18Kathmandu
10Bank of Kathmandu Limited1995/03/12Kathmandu
11Nepal Credit & Commerce Bank Limited(established as Bank of Cylon)1996/10/14Siddharthanagar
12Lumbini Bank Limited1998/07/17Narayangadh
13Nepal Industrial & Commercial Bank Ltd.1998/07/21Biratnagar
14Machhapuchhre Bank Limited2000/10/03Pokhara
15Kumari Bank Limited2001/04/03Kathmandu
16Laxmi Bank Limited2002/04/03Birgunj
17Siddhartha Bank Limited2002/12/24Kathmandu
18Agriculture Development Bank Limited2006/03/16Kathmandu
19Global Bank Limited2007/01/02Kathmandu
20Citizens Bank International Limited2007/06/21Kathmandu
21Prime Commercial Bank Limited2007/09/24Kathmandu
22Sun Rises Bank Limited2007/10/12Kathmandu
23Bank of Asian Limited2007/10/12Kathmandu
24Development  Credit Bank Limited2007Kathmandu
25NMB Bank Limited2008/06/02Kathmandu
26Kist Bank Limited2009/03/07Kathmandu
27Janata Bank Limited2010/04/05Kathmandu
28Megha Bank Nepal Limited2010/07/23Kathmandu
29Commece and Trust Bank Nepal Limited2010/09/20Kathmandu
30Civil Bank Limited2010/11/26Kathmandu
31Century Commercial Bank Limited2011/03/10Kathmandu

The sample taken from the commercial banks are follows

Total populationSample taken
commercial banksEverest Bank Ltd

Himalayan   Bank Ltd.

(Sources: Banking and Financial Statistic)

 

 

1.4. Role of Joint Venture Bank in Nepal

In global prospective, joint venture bank is the mode of trading through partnership among the nations and also a form of negotiations between two or more enterprise for the purpose of carrying out a specific operation. So, the main purpose of joint venture is to join economic forces in order to achieve desired end. Under joint venture basis, to operate a business organization, there should be at least two partners from the different countries. The primary objective of joint venture bank is to earn profit by investing or granting the loan and advances to the people associate with trade, business, industry etc. that means they are required to mobilize their resources properly to acquire profit

“A joint venture is forming of two forces between two or more enterprises for the purpose of carrying out a specific operation (industrial or commercial investment, production trade).” (Gupta: 1984, 25)

 

The HMG/N budget for the FY 1984/85 provided the following justification for allowing the setting up of joint venture banks in the following words:

“At present, the financial institutions of the country have been effortful to mobilize resources. On one hand, the major part of the few individual where as the small traders and entrepreneurs are facing difficulties to receive loans on the other. The only solution to this problem is to encourage competition in the banking sector. Therefore, a policy of allowing new commercial banks under joint venture with foreign collaboration has been adopted; this will promote competition among banks whereby the clients will get improved facility. Addition, the share of these new banks will also be sold to the general public and while distributing the shares, it will be ensured that the ownership is spread out to the maximum extent possible.”

 

In such manner, joint venture banks are successful to bring healthy competition among banks, increase in foreign investment, promoted and expand export-import trade, introduce new techniques and technologies. The various roles plays by the joint venture banks in Nepal can be classified into three categories:

 

  1. Introducing Advanced Banking Techniques

The joint venture banks in Nepal have been largely responsible for the introduction of new banking techniques such as computerization, hypothecation, consortium finance, fee-based activities and syndicating under the foreign exchange transactions by importers and exporters, merchant banking, inter-bank market for the money and securities, arranging foreign currency loans, etc.

 

  1. Introducing Foreign Investment in Nepal

When looking at the possibility of investing in Nepal, multinational companies are unfamiliar with the local rules, regulations and practices. Though there are many system actually operates during the implementation period. In this context, the joint venture banks help the multinational companies to build up their confidence for investment by providing necessary information and financial support.

 

  1. Bringing in Healthy Competition

The induction of joint venture banks also brings the benefit of healthy competition of which the main beneficiaries are the bank customers and the economy. The increase in competition also force the existing banks to improve their qualities of services by simplifying procedures providing training and motivation to their own staff to respond to the new challenge.

Hence, the entrepreneurial dynamic and pivotal role of the joint venture banks contributes the economic development of the country by providing various new financial services to modernize traditional Nepalese banking system.

 

1.5. Focus of the Study

Bank is an institution, which helps in collection and mobilization of savings. The role of commercial banks in uplifting the economic growth of the country is very important. The uplifting of the development of a nation largely depends upon the development of its economic growth. The development of the economy is greatly influenced due to the internal management of the bank.

 

“General fund mobilizing means to flow the cash in different sectors at profit motive. Investment in its broadest sense means the sacrifice of certain present value for (possibly uncertain) future value. In pure financial sense, the subsequent use of the term investment will be in the prevalent financial sense of the placing of money in the hands of other for their use, in return for a proper instrument entitling the holders to fixed income payment or the participation in expected profits. It can define the terms of investment at manufacturing and trading forms those long term expenditures that aim at increasing plant capacity of efficiency or at building up goodwill, there by producing an increased return over a period. Experts define the terms of investment from economic view point that investment as a productive process by means of which additional are made to capital equipment’s. It is finding to clear the terms of investment at different points of view. But it needs to clear the terms of investment in financial point of view as related to this study.” (Swami and Basudevan :1979, 23)

 

This research focuses on the comparative study of fund mobilization of two joint venture banks; Himalayan Bank Ltd. and Everest Bank Ltd. These two banks are compared as per their fund mobilization procedure by taking 5 years data from the year 2007 to 2011.

 

1.6.  Profile of the Concerned Banks

 

As there has been number of commercial banks established, the research has been taken into consideration of EBL and HBL. Therefore, short glimpse of these commercial banks are given as:

 

Himalayan Bank Limited

Himalayan bank limited is a joint venture bank with Habib Bank of Pakistan, was established in 1992 under the company act 1964 as a fourth joint venture bank of Nepal. This is the first joint venture bank managed by Nepali Chief Executive. The operation of the bank started from 1993 February. HBL does not include government ownership. It has been established to maintain the economic welfare of the general people to facilitate loan for agriculture, industry and commerce to provide the banking services to the country and people.

It is the first commercial bank of Nepal with maximum share holding by the Nepalese private sector. Besides commercial activities, the Bank also offers industrial and merchant banking. Its ownership is composed of founder shareholders 51%, Habib bank of Pakistan 20%, Karmachari Sanchaya Kosh 14% and general public 15%. It is the first bank having domestic ownership more than 50%.HBL has been operating in high profit for the establishment’s period till now. It accepts deposit through current deposit, saving deposit, fixed deposit and call deposit.

At present HBL has eight branches in Kathmandu valley. Including this , it has thirty six branches outside Kathmandu valley with 57 ATM services . There are in total 647 staffs.. The Bank has a very aggressive plan of establishing more branches in different parts of the kingdom in nearfuture. HBL was access to the worldwide correspondent network of Habib bank for fund transfer, letter of credit or any other banking business any where in the world. Himalayan Bank has adopting innovative and latest banking technology. The bank provides various facilities such as:

  • Tele- Banking
  • 24 hours banking
  • Credit card facilities
  • Automatic Teller Machine( ATM)
  • Visa card
  • C. service
  • Safe deposit locker
  • Himalayan SMS(Short Message Service)
  • Foreign currency transaction etc.

The ownership of HBL is composed as:

Subscription                                                                  % Holding

Promoter Share Holders                                                51%

Habib Bank Ltd., Pakistan                                            20%

Financial Institution (Employees Provident Fund)                  14%

Nepalese Public share holder(General Public)                15%

Total                                                                              100%

The present capital structure of HBL is shown below:

Share Structure                                                           Amount (Rs.)

Authorized Capital                                                              3,000,000,000

Issued Capital                                                             2,000,000,000

Paid- Up Capital (20000000 equity shares of NRS 100.00 each, fully paid)2,400,000,000

Source: Report of HBL

 

Everest Bank Limited

Everest Bank Ltd. was registered under the Company Act 1964 in 19th November 1993 (2049/09/03) and started banking transaction in 16th October 1994 (2051/07/01). The promoter of the bank decided to join hands with an Indian bank and entered into joint venture agreement in January 1997 AD with Punjab National Bank (PNB), which is one of the leading commercial bank of India, having over 100 years of successful banking experience and known for its strong system and procedure. A team of professionals deputed by PNB under this arrangement. Now, the bank 43 branches including main branch (i.e. head office) in Nepal &586 no of Staff.

 

On equity holding PNB has 20% equity participation in its total shareholding and also has undertaken management responsibility under a technical service agreement and other balance is maintain by Nepali investor. Nepalese promoter holding 50% and rest 30% held by General Public. The main purpose of EBL is to extend professional banking services to various sectors of the society in the kingdom of Nepal and thereby contributing in the economic development of the country. It provides following facilities and services to their customers:

 

  • Cumulative Deposit Scheme
  • Unfix Fixed Deposit
  • ATM Facilities
  • FC Deposit/ Lending

 

 

 

 

  • Facilities of NRN
  • Required Deposit Plan
  • Telegraphy transfer (T.T)
  • Letter of Credit
  • Drawing Arrangement
  • SWIFT Transfer
  • Foreign Exchange
  • International Trade and Bank Guarantees
  • Merchant Banking

 

The ownership of EBL is composed as:

 

Subscription                                                                           % Holding

Promoter Share Holders                                                                   50%

Punjab National Bank                                                             20%

General Public                                                                         30%

Total                                                                                       100%

 

The authorized capital of the bank has been Rs. 200 million, issued Rs. 128.1 million and paid capital Rs.117.5645 million in the beginning of 2051/052. The present capital structure of EBL is shown below:

 

Share Structure                                                            Amount (Rs.)

Authorized Capital                                                                  2,000,000,000

Issued Capital                                                                1,281,406,500

Paid- Up Capital                                                            1,279,609,490

Source: Report of EBL

 

1.7. Statement of the Problems

After introducing the liberalization policy of the government, many banks and institutions are established rapidly. These days many commercial banks, developments bank and financial institutions are operating their work to assist in the process of economic development in the country. Due to the high competition between the financial institutions the collected huge amount from public is comparatively lower than fund mobilization and investment practice of collected funds. Therefore, it raised the problems of investment and proper mobilization of collected funds. Strong fund mobilization activities play a vital role in utilization of collected funds and overall development of the economy of the nation.

 

If the funds are wrongly invested without thinking any financial risk, business risk and other related facts, the bank cannot obtain profitable return as well as it should sometimes lose its principle. Fund mobilization policy may differ from one joint venture banks to another but there is no optimum utilization of shareholders fund to have greater return in any bank. Nepal Rastra Bank has also played significant role to make commercial bank mobilize their fund in good sector. For this purpose, NRB imposed many rules and regulation so that commercial bank can have sufficient liquidity and security. Though most of the joint-venture banks have been successful to earn profit from fund mobilization, none of them seem to be capable to invest their entire fund in more profitable sectors.

 

To meet the requirement of NRB, joint venture banks must have 6% deposits of total current account and fixed deposit account of local currency with NRB. They should have 3% minimum cash balance in their own vault of total currency of all types of accounts. Except this, they have fund from current, saving and fixed deposits borrowing, from other banks, cash margin for different purpose, amount of bills payable and retained earning, reserves share capital and other liabilities.

 

Commercial banks are reported to be criticized by customer due to implementation of wrong investment policies. They are said to be investing less risky and highly liquid sector, they keep high liquid position and flow less funds in productive sectors, so these types of function prove less investment opportunity of the fund. Sometimes they seem to be ready to invest the idle fund even in those investment, which have lower risk and comparatively greater profit the another problem is diversification of investment. The bank cannot achieve profitable return from their resources as well as they sometimes may lose their principle resulting in decreasing of national economy.

Fund mobilization is the most important factor from the shareholder and banks management point of view. This study is a comparative study on fund mobilization of Himalayan Bank Ltd and Everest Bank Ltd. The problems related to fund mobilization procedures of the joint venture banks of Nepal have been presented briefly as under:

  1. a) Is there any stability in fund mobilization between HBL and EBL?
  2. b) What is the relationship between deposit and total capital raised, deposit with total investment and loan and advances with total deposits?
  3. c) Does the investment decision affect the total earning capacity of the bank?
  4. d) Do the two joint ventures successful to utilize their available fund?
  5. e) Are they maintaining sufficient liquidity position?
  6. f) Which joint ventures have more effective investment policy among HBL and EBL ?

1.8. Objectives of the Study

For any kind of research work or study, first of all the objectives should be determined. It shows the way to achieve desired goals. Likewise, the main objectives of this research work is to examine, interpret and analysis the fund mobilization procedures adopted by two joint ventures; Himalayan Bank Ltd. and Everest Bank Ltd. This study is concerned with whether HBL and EBL are adopting efficient fund mobilizing policy or not. The main objectives related to this study are presented below:

  • To evaluate the growth and risk ratio of loan and advances and total investment with respective to growth rate of total deposit and net profit of HBL and EBL.
  • To evaluate comparatively operating, financial and investment efficiency of two joint venture banks.
  • To analyze the relationship between deposits and total investment, deposits and loan and advance and net profits of HBL and EBL.
  • To analyze the sources and uses of funds and analysis of cash flow of these two joint venture banks.
  • To suggest and recommend some measures for improvement of financial performance of HBL and EBL.

 

1.9. Significance of the Study

Fund mobilization activities of joint venture banks greatly effects the growth and earning of banks. Effective, stable, appropriate fund mobilizing policy may cause the earning of sufficient return to the banks. Most of the joint- venture banks have been successful to earn profit from effective fund mobilization. Fund mobilizing policy may differ from one joint-venture banks to another but there is no optimum utilization of shareholders fund to have sufficient return in any bank.

 

Optimum utilization of fund makes better impact on the economy of the nation. Fund mobilization activities must consider customer, national and government as well as its shareholders interest. Significance of the fund mobilization can be written as the following manner:

 

  • The depositor’s general public can make decision to deposit their money in the bank after analyzing the fund mobilization of joint ventures.
  • By the help of this study, general public can know the funds mobilizing activities of banks.
  • It is also beneficial for the government while formulating policies and rules regarding joint venture bank.
  • From the study of fund mobilizing policy about bank, shareholders and companies would get information related to the fund mobilizing scheme of the bank and they may know how banks are mobilizing their fund and resources. And it is fruitful to make investment on shares of various joint venture banks.
  • The study of fund mobilizing policy would provide information to the management of the bank that would be helpful to take corrective action in the bank activities.
  • Effective fund mobilization activities are the cause to increase earnings of the banks.
  • This study will serve to be a guide to the management of banks, financial institutions, related parties, shareholders, general public (customer, depositors and creditors).

 

 

 

1.10. Limitation of the Study

For the completion of the study, some facts are to be considered as limitation of this research work:

  • This study is based on secondary data and accuracy depends upon the data collected and provided by the organization.
  • The whole study is based on the data of 5 years period This study has been only of two joint venture banks as sample i.e. HBL and EBL.
  • Non availability of the various references of sources acts as constraints for the study.
  • Only the fund mobilization aspects are analyzed. Other performance of the organizations is fully neglected, while providing suggestions.

 

1.11. Organization of the Study

The entire study carried out to different stages and procedures as it needed. The study organized in the following chapters in order to make the study easy to understand.

 

The first chapter is an introductory chapter which contains background of the study, introduction of commercial banks, focus of the study, statement of the problems, research methodology, and objectives of the study, limitation of the study and organization of the study.

The second chapter is concerned with review of literature. This contains conceptual framework, review of legislative provision, review of research paper and published and unpublished master’s thesis of T.U.

 

The third chapter is the most important part of the study. It deals with the research methodology, which is applied to collect the data and analyze them in this study. It contains introduction, research design, sources of data, population and sample, financial analysis and statistical analysis.

 

The fourth chapter is analyzing chapter, which deals with presentation and analysis of relevant data through definite courses of research methodology with financial and statistical analysis related to investment and fund mobilization of HBL and EBL. Major findings of the study have been presented at the end of this chapter.

 

The fifth chapter is the last part of the study, which provides summary and conclusion, suggestions and recommendations for improving the future performance of the sample banks. Finally, an extensive, bibliography and appendices are also presented at the end of the thesis work.

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