Kathmandu Finance and Guheshowri Merchant in NCHL-IPS
Kathmandu Finance and Guheshowri Merchant Banking and Finance have been added to the NCHL-Interbank Payment System (IPS). CEO of NCHL Neelesh Man Singh Pradhan and CEO of Kathmandu Finance Raj Kumar Rai and general manager of Guheshowri Merchant bank Dinesh Lal Shrestha signed the agreement at separate programmes. There are now a total 17 BFIs participating in the NCHL-IPS system.
Mega Bank to Expand Branchless Banking
Mega Bank has launched 56 or 53 branchless banking service outlets in various part of the country, said the bank in a press release. According to the bank, these outlets are serving 18 districts outside the valley. Mega bank launched the first branchless banking service in Nepal four years ago and will launch 23 more branchless banking service outlets in the next two years, said Chief Executive Officer of the bank Anil Keshary Shah.
Mahakali’s Branch at Atariya
Two–thirds of the population in the far-western region still lack access to financial services, said acting director Dilaram Subedi of NRB’s Dhangadi-based regional office. Speaking at the inauguration of Mahakali Bikash Bank’s branch at Atariya, Subedi said that though more than 100 banks and financial institutions have opened branches in the nine districts of the region, it was still not sufficient. Executive director of Mahakali Bikash Bank, Bidur Man Singh, said the new branch will work for people in the remote areas.According to Singh, the bank plans to open a branch soon in Dadeldhura district as well.
Standard Chartered, Grande Int’l Hospital Enter Partnership
Standard Chartered Bank Nepal and Grande International Hospital have officially agreed on a partnership agreement. Under the agreement Standard Chartered Priority Clients will receive a discount of 10 percent and other Debit or Credit Card Holders receive a discount of 7.5 percent on the hospital’s services, said a statement from the bank. In addition, Grande International Hospital will be providing personalised customer services to the Bank’s Priority Clients.
Keepa Khaling, Head of Client Relationships & Priority Clients at Standard Chartered Bank Nepal said, “This initiative is in line with our ongoing efforts at understanding the needs of our clients and fulfilling them. By packaging exclusive and unique benefits on its offerings, the Bank is committed to provide better advantages to its clients. Among others, this partnership with Grande International Hospital is yet another example of our continued efforts in providing greater benefits to our valued clients.”
Prime and Deva Sign Up for NCHL- IPS
Prime Commercial Bank and Deva Bikas Bank have joined Nepal Clearing House Ltd (NCHL) Interbank Payment System (IPS). On December 31st, chief executive officer of Prime Narayan Das Manandhar signed the agreement with Neelesh Man Singh Pradhan chief executive officer of NCHL.
Similarly, at a different programme, Bijaya Bahadur Shrestha chief executive officer of Deva Bikas Bank signed a separate agreement with NCHL CEO Pradhan. Joining the IPS will allow bank customers to enjoy interbank payments, fund transfers, dividend payments, IPO-refunds, remittances, among other services.
MuktiNath Enters 10th Year
Starting from Jan 1, MuktiNath Bikash Bank entered its 10th year of operations, a press release from the bank said. To mark the occasion, the bank organised a debate programme with students from a community secondary school in Pokhara. The bank also distributed food items to 50 senior citizens holed up at Radha Krishna old age home at Lekhnath-13 of Pokhara. Similarly, the bank provided soap making training to 70 women members of the bank’s micro-finance programme, said the bank’s CEO Bharat Raj Dhakal.
Mirmire Microfinance New Branches in Salyan
Mirmire Microfinance Development Bank has opened two new branches at Tharmare and Kapurkot in Salyan. With the two new additions, the bank now has a total of 19 branches. Established in 2010 to empower women and raise income levels by creating self-employment opportunities through microfinance, the bank’s head office is located at Kavrepalanchok.
Kedia New Chair of Siddhartha Bank
Manoj Kumar Kedia has been elected as the new chairman of Siddhartha Bank. Kedia, who has been at the bank since its establishment, was unanimously elected as president at a meeting of the board of directors.
Siddhartha, Business Universal to Merge
Siddhartha Bank Limited (SBL) and Business Universal Development Bank (BUDBL) have signed a merger agreement. Hemant Gyawali, Director of SBL and Dinesh Shankar Palikhe, Director of BUDBL signed the MoU on behalf of SBL and BUDBL respectively.
After the merger, the new entity will be named Siddhartha Bank Limited with a paid up capital of Rs 3.49 billion and will have a network of 65 branches, 72 ATMs and 64 branchless banking outlets. The merger process is expected to be completed by mid April.
Ekata’s branch in Surkhet
Ekata Bikash Bank with its head office in Butwal has opened its 12th branch office at Birendranagar of Surkhet. Issuing a press statement, the bank said that Mid-Western Chamber of Commerce and Industries President Padam Bahadur Shahi and Surkhet Chamber of Commerce and Industries President Prakash Adhikari jointly inaugurated the branch office amidst a ceremony on February 4. The development bank started its services in 2011 and has been providing banking and financial services from Rupandehi, Kapivastu,Dang, Pyuthan, Rolpa, Rukum, Salyan, Surkhet, Banke and Kailali districts.Bank has also informed that the bank is in the process of starting its new operation in Salyan within a month.
Sunrise Bank's First Branchless Banking Service
Sunrise Bank Ltd has launched its first Branchless Banking Service. The bank started the new service at Mangaltar, Kavre District. The director of the commercial bank, Dr. Deepak Prasad Bhattarai inaugurated the new outlet as per a press release.
Everest Bank Distributes Relief Materials
Everest Bank has distributed warm clothes and food items to schools in the earthquake affected areas of Nuwakot and Gorkha as part of its relief package imitative announced by the bank immediately after the devastating 2015 earthquakes. The bank had earlier donated blankets to the victims through an NGO as an immediate relief measure.
The Bank on April 2015 had announced a relief package worth Rs 10 million for the earthquake affected out of which Rs five million was immediately donated to the PM’s Relief Fund. The remaining funds were channelized for the rehabilitation of the victims under which different initiatives have already taken place.
Janata Bank, Ace Remit Sign Remittance Agreement
Janata Bank and Ace Remit have signed a remittance agreement. The agreement was signed by the bank’s Chief Marketing Officer (CMO) Kalyan Padey and Ace Remit’s Chief Operation Officer (COO) Munal Jung Karki. After the agreement, the remittance received through Ace remit can be received from all Janata Bank branches.
Customers of Sanima Bank can now open accounts online, said the bank. The bank said the new facility will bring its services into the digital age and benefit its customers who can open an account via the bank’s website inside one day.
Civil Bank Signs Agreement for Electronic Payment System
Nepal Clearing House Ltd (NCHL) and Civil Bank Ltd have signed an agreement for Inter Bank Payment Service (IPS). With this agreement, the bank will now be able to enter into the electronic payment system. As per the press statement, Chief Executive Officer of the bank, Kishore Maharjan and Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL signed the agreement on January 26. Through this agreement, the bank assists its customers through interbank payment transaction and fund transfer. Similarly, this system helps in transferring money, dividend payment, IPO- refund, remittance service and any kind of payments and receipts, as per the press statement. Altogether 32 banks and financial institutions have entered into the IPS system so far.
Machhapuchchhre Bank Enters IPS system
Machhapuchchhre Bank Ltd has signed an agreement with Nepal Clearing House Ltd (NCHL) for the Inter Bank Payment System(IPS). As per the press statement, Chief Executive Officer of the bank, Tulasi Ram Gautam Neelesh Man Singh Pradhan Chief Executive Officer of the NCHL signed the agreement. With the NHCL-IPS system, customers of the bank now have the privilege of making interbank payment and fund transfer. Similarly, this system helps in transferring money, dividend payment, IPO- refund, remittance service and any kind of payments and receipts, as per the press statement. It was also informed that this system is supportive in maintaining the transparent operation and also reduces performance risks.
NBI holds Anti Money Laundering Conference
National Banking Institute (NBI) concluded a one-day national conference on ‘Anti-Money Laundering’ in Kathmandu on January 27. Altogether 161 participants from banks, insurance companies, remittance companies, provident funds, investigating authorities and regulatory bodies attended the programme, as per a press statement. On the occasion of the event, NBI, in association with Fintelekt, India, launched an online ‘AML/CFT Certificate Course’ in Nepal for the first time aiming to enhance the knowledge of the workforce of BFIs, insurance companies, remittance companies and cooperatives on anti-money laundering and combating financial terrorism. At the conference, international as well as Nepali experts made presentations on given topics.
Sagarmatha Finance Branch in Bhojpur
Sagarmatha Finance Ltd located at Manbhawan, Lalitpur has started its branch in Bhojpur district as the 8th branch of the company. The branch was inaugurated by Madan Kumar Rai, Chairman of Sagarmatha Finance Ltd. Before, it had started its services through various branches in Birtamod, Damak, Sunsari, Morang and Solukhumbu. Rai also informed that the company is in the process to extend its branches to Khotang and Okhaldhunga districts as well.
Vibor Bikas Bank’s Branch in Mahalaxmisthan
Vibor Bikas Bank has opened its new branch in Mahalaxmisthan of Lalitpur district. This branch was launched with the objective of expanding its banking services and gradually upgrading into a national level bank. The director of the bank, Mila Sayami inaugurated the branch. With its head office in Tripureshwor, Kathmandu, the bank has 12 branches so far.