VOL. 06, NO. 04, July 27, 2012 (Shrawan 12, 2069)

As a means to provide banking facilities to a larger Nepali mass, Bank of Kathamndu Ltd. opened its 2 new branches in Kathmandu: Maharajgunj and Old Baneshwor, Battisputali. The Maharajgunj branch was inaugurated by Chairman of the Bank Narendra Kumar Basnyat and the Old Baneshwor branch by Director of the Bank Satya Narayan Manandhar. With the addition of two new branches, Bank of Kathmandu now has a total of 45 branches and 7 counters throughout the country. Apart from  this, the customers can utilize the facility of its network in 54 ATM counters.

The branches were opened with the motive to provide banking facilities to people residing in these areas who have yet to experience banking activities and its advantages. The bank has taken the policy of expanding its branches throughout the country focusing on all 3 major areas; Urban, Semi-urban & Rural communities.

 The Bank has been successful in providing services to various customers from Dhangadi in Western Region to Birtamod in the eastern as well as Jumla in the remote areas. The Bank now has its presence in 13 zones and 27 districts of the country and will soon be opening a Branch in the Sagarmatha Zone and henceforth will be covering all the 14 zones of the country.

According to a press release, addressing the inauguration function Chairman of the Bank  Narendra Kumar Basnyat stated that the Bank is always keen to provide its services to maximum number of people serving customers from both urban and rural areas. Likewise, Director Mr. Satya Narayan Manandhar quoted that Customer Satisfaction has always been Bank’s priority.

The newly opened branches in Maharajgunj and Old Baneshwor will provide service of deposit, loan, ATM, remittance and several other facilities offered by the Bank.

Mega Bank Celebrates 2 nd Anniversary

Mega Bank Nepal Limited, which according to its CEO Anil Shah, came into existence with the vision of becoming the Bank for every Nepali, celebrated its 2nd Anniversary to mark the successful completion of two years of its operation recently.

In the path of achieving its goal, the Bank has accumulated numerous achievements since its commencement of operations on 7th Shrawan 2067. The Bank has been successful in opening 28 branches, ranging from the East to the West of Nepal while continuing its activities to extend hi-tech banking services to cater to the rural populace of the country.

“The fact that we have a customer base of around 73 thousand within 2 years, among which around 43 thousand was added during the past fiscal year, is a clear demonstration of the Bank's commitment to growing business and as well as the trust the Bank has earned across the nation," said Anil Keshary Shah, Chief Executive Officer of the Bank.

During the fiscal year 2011/12 the Bank has grown its deposit base by around Rs. 4 billion to reach Rs. 9.2 billion, and enhanced its loans & advances by Rs. 3.2 billion to reach Rs. 8 billion, according to Shah.

“We have been successful in generating profit since the initial year of inception, ” stated the Chairman of the Bank Prof. Dr. Madan Kumar Dahal.

Social Pensions Key To Protecting Elderly

As Asia's population ages, developing countries in the region should explore social pensions that provide cash benefits to vulnerable older citizens who are most in need of a safety net, according to a new publication from the Asian Development Bank (ADB).

“Social pensions can help older people gain access to health care, and enhance their status and social standing,” said S. Chander, Director General of ADB’s Regional and Sustainable Development Department. “They also help the most vulnerable, particularly women and widows who often lack savings or any form of social security, and face discrimination in terms of employment, inheritance and property laws.”

Nepal Gets Finnish Support

Finland’s Chargé d’ Affaires a.i. to Nepal Kari Leppänen signed an agreement with NGO Federation of Nepal for support of NPR 16 348 254. The Embassy supports NGO Federation of Nepal to implement project on Promoting NGOs’ Governance and Management in Nepal. The project will be implemented in close collaboration with the concerned Government agencies and stakeholders. The total budget of the project is NPR 18 184 254.

NGO Federation of Nepal will implement the project ‘’Promoting NGOs' Governance and Management in Nepal’’ between July 2012 and July 2015. The project wil be implemented in seven districts (Parvat, Baglung, Kaski, Bhaktapur, Kavre, Dailekh and Doti) of Nepal and about 600 NGOs/CSOs working in these particular districts and entire network of NGO.

Korea-Nepal Institute Of Technology Opened

President Dr. Ram Baran Yadav inaugurated the Korea Nepal Institute of Technology in Tamnagar Butwal. During the ceremony,  Dina Nath Sharma, Education Minister, Park Dae Won, KOICA President, Kim Il Doo, Ambassador of the Republic of Korea,  Kishor Thapa, Education Secretary, Vice Chairman of CTEVT, Resident Representative of KOICA Nepal Office and other dignitaries were present.

The government of the Republic of Korea spent US$ 5.68 million for the Establishment of the Korea-Nepal Institute of Technology (KNIT) in Butwal. The objective of this project is to enhance and upgrade the quality of technical education and vocational training in Nepal.