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<p>According to him, 192 banks and financial institutions (BFIs) have merged into 45 entities till date after the central bank announced to raise the minimum paid-up capital of BFIs two years ago.</p>
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<p>“The local elections will end by September. The end of elections means that the villages will directly receive budget for development,” said Governor Nepal, during a function organized in the capital to mark the translocation of the central office of Garima Bikas Bank from Pokhara to Kathmandu.</p>
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<p>According to him, 192 banks and financial institutions (BFIs) have merged into 45 entities till date after the central bank announced to raise the minimum paid-up capital of BFIs two years ago.</p>
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<p>According to him, 192 banks and financial institutions (BFIs) have merged into 45 entities till date after the central bank announced to raise the minimum paid-up capital of BFIs two years ago.</p>
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<p>According to him, 192 banks and financial institutions (BFIs) have merged into 45 entities till date after the central bank announced to raise the minimum paid-up capital of BFIs two years ago.</p>
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<p>“The local elections will end by September. The end of elections means that the villages will directly receive budget for development,” said Governor Nepal, during a function organized in the capital to mark the translocation of the central office of Garima Bikas Bank from Pokhara to Kathmandu.</p>
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July 9: Nepal Rastra Bank (NRB) Governor Dr Chiranjivi Nepal has said that licenses of 107 banks and financial institutions (BFIs) have been revoked after their existence came to an end following the merger and acquisition (M&A) drive that has been ongoing for the last few years.
Dr Nepal made such remarks during a function organised in the capital to mark the relocation of the head office of Garima Bikas Bank from Pokhara to Kathmandu on July 7.
According to him, 192 banks and financial institutions (BFIs) have merged into 45 entities till date after the central bank announced to raise the minimum paid-up capital of BFIs two years ago.
The new plan has helped the banks to increase their capital and also spurred competition among them, noted the NRB governor.
“The local elections will end by September. The end of elections means that the villages will directly receive budget for development,” said Governor Nepal, during a function organized in the capital to mark the translocation of the central office of Garima Bikas Bank from Pokhara to Kathmandu.
“The budget will be released for development projects in all 744 local unites from July 16 and we have already instructed commercial banks to open branches. Some banks have already decided to extend their branches,” he added.
NRB Governor Nepal said that many local units in the new federal setup still lacks banking service and also warned that those banks which do not open new branches will be forced to open branches.
During the function, chairman of Development Bankers Association, Nepal, Bharat Dhakal, expressed dissatisfaction towards the central bank’s decision to give authority only to the commercial banks to deal with transaction related to the budget allocated for the local level.
“There are lots of development banks at the local level capable of handling the development works. Such already existing banks should not have been excluded,” said Dhakal.
Meanwhile, Garima Bikas Bank’s CEO Govinda Prasad Dhakal said that the bank aims to give quality service to its customers and is planning to extend its branches.
Garima Bikas Bank, which started its financial service from three districts in now a national level bank spread across ten districts. Its central office has recently been shifted from Pokhara to Kathmandu.
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'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '6170',
'hit' => '1127'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
