Regional five rural dev banks to merge within six months

The five regional rural development danks have decided to go for merger within the sixth months with an aim of becoming national level rural development bank.

The rural development banks from Eastern, Western, Far–Western, Mid-Western, and Central regions signed a memorandum of understanding (MoU) to merge into a single entity amidst a function on Thursday.

After the merger, the bank will have the paid-up capital of Rs. 400 million.

These banks are going to merge under the initiative of the government and Nepal Rastra Bank (NRB). nepalnews.com