Banijya Bank, NIDC to merge

The two banks under the government Rastriya Banijya Bank (RBB) and Nepal Industrial Development Corporation (NIDC) bank are set to merge within next six months.

A meeting of Financial Coordination Committee under the chairmanship of Finance Minister Barsha Man Pun on Thursday decided to merge the two major state-owned banks.

The meeting also decided to form a merger committee after the board meeting of both the banks under the coordination of Nepal Rastra Bank (NRB).

On the occasion, FM Pun said that the merger will turn the bank into number one banking entity.

NIDC is one of the oldest banks owned by the government. nepalnews.com