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   By Saujan Gyawali Explain the mechanism of the payment transaction that takes place when one person withdraws money from the ATM booth. ATM is Automated Teller Machine. Now it’s making peoples life very easy as they get their money when they need. So, they do not need to carry either big amount of money or the cheque book all the time. To get rid from this burden they need to deposit money in the bank by opening an account and then the bank will be given a Card i.e. an ATM card with a PIN number to them. By using that they can withdraw money from any ATM machine of that bank. Automated Teller Machine (ATM) is also an embedded system. Because it does the same work again and again like deposit money, withdraw money etc. For that it gives output very fast. Most importantly it has all the features of an embedded system like processor, RAM etc. and also software for user interaction.      Steps of Transaction Process Steps of Transaction ...

The Central Bank of Nepal (NRB) is in the final stage of execution of the Anti Money Laundering/Combating the Financing of Terrorism (AML/CFT) which will be operative into the Nepalese financial system effective from January 15, 2020. The banking community in Nepal has urged to practice and adopt the zero-tolerance for compliance after the Central Bank circulated the rule to all the country’s commercial institutions. Having seen three decades of banking contribution for the upliftment of Nepalese economy, the next milestones are employment opportunity, financial attribution and improvement of liquidity in the market. Ups and downs in the Nepalese Banking performance last three decades are highly remarkable to meet the International Standard.  International concern towards Nepalese banking activities is growing very prominently and is observed in the high manual. Payment settlement process is being seriously watched by concerned authorities in order to mitigate Terrorist Finan...