Discuss (d) microfinance

The establishment (the BAFIA 2073's regime): the licence first (the NRB's licence — the incorporation alone insufficient: the BAFIA licence the financial business's legal birth); the promoters-and-capital (the minimum-capital floors by class; the fit-and-proper promoters); the company form (the Companies Act 2063 incorporation + the BAFIA licence = the bank's double birth (the corporate person + the financial authority)); the application's scrutiny (the NRB's feasibility-and-fit review); the foreign-investment faces (the ceilings-and-approvals). The management: the board (the directors — the fit-and-proper, the independence faces for the prescribed classes); the executives (the CEO — the NRB's fit-and-proper approval; the KMPs); the NRB's governance directives (the committees, the audit, the related-party limits — the prudential overlay). The functions (the commercial bank's menu): the deposits (the demand-saving- fixed — Unit 4.3's full craft); the lending (the overdrafts, the term loans, the bill discounting — Unit 6's world); the payments (the cheques, the transfers, the cards, the digital wallets); the trade finance (the LCs-and-guarantees — Unit 8); the agency services (the collections, the remittances, the tax-and-utility payments); the others (the lockers, the forex, the advisory).