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Money Matter News In Brief (30 September - 3 October 2013)

  3 min 3 sec to read

Vibor, Reliable Remit Ink Agreement
Reliable Remit Service, operated by Reliable Remit Ltd, has inked a deal recently with Vibor Bank following which customers can now send and receive their money from six branches of the Vibor bank and 1600 agents of Reliable Remit. CEO of Reliance Finance, Narayan Bahadur Lohani and CEO of Vibor Bank, Narayan Bahadur Lohani signed an agreement of partnership last week.
 
21pc Dividend of Kamana 
Kamana Development Bank has said it will distribute a total of 21 percent dividend on the net profit of Fiscal Year 2012-13. According to the press release of the bank, the meeting of Board of Directors (BoD) held last Monday (September 23) decided to distribute 15 per cent bonus and 6 per cent cash dividend. Umesh Kumar Acharya, CEO of the Bank, informed that the dividend will be distributed following the approval of Nepal Rastra Bank and endorsement from the Annual General Meeting of the company.  
 
Siddhartha Brings Visa Prepaid Travel Card
Siddhartha Bank will distribute free Visa Prepaid Travel Card to its customers as part of its ‘Utsav Scheme’. The Bank has informed that the customers can get such cards from any of its branches upon filling up a form by November 30. The press release of the bank on the launch of a new service of Card states that the customers can make transactions through Visa ATM and POS machine from anywhere in the world.
 
City, NCC Sign Agreement
City Express Money Transfer and NCC Bank Ltd have signed an agreement on providing the remittance service. Under the agreement, money remitted from abroad can be collected from any branch of the NCC Bank. 
 
Grand’s ‘Special Saving Account’
Grand Bank Nepal Ltd has started ‘Grand Special Saving Account’ on the occasion of Dashain and Tihar festivals. The minimum balance for the account would be of Rs 100,000. The Bank has said that it will provide 7 per cent per annum interest rate on daily balance. According to the press release of the bank, it will provide 50 per cent discount on charge for getting a Draft and Balance Certificate. 
 
United Hands Over Insurance Claim Payment
United Insurance Company Ltd has made the highest payment of insurance so far. The Company has handed a payment worth Rs 589 million to the insured party representative Narottam Kumar Mehta from the Chaudhary Group amid a programme held in the capital last Tuesday. According to the CEO of the insurance company, Bir Bikram Raymajhi, the payment was made as a compensation of the loss that the insured company incurred due to fire accidents in the company’s Satungal based CG Impex Pvt Ltd, EOL Pvtd Ltd and CG electronics Pvt Ltd last year.  
 
Vibor Capital Appointed as Mission Dev’s Registrar  
Mission Development Bank has appointed the Vibor Capital Ltd as its share registrar. Bank’s CEO Hari Prashad Ghimire and Vibor Capital’s CEO Shankar Kalikote has signed on the appointment letter to this effect. The Company’s shares were listed in the Nepal Stock Exchange recently.

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