April 12:   Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11.  Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.