NRB Asked Capital Increment Plan

Nepal Rastra bank (NRB) has asked Banks and Financial Institutions (BFIs) to submit their plan to increase the paid-up capital as prescribed by NRB. The BFIs who have not increased their capital till mid-July 2013 to the minimum amount as prescribed, have to place the plan to NRB till Mid-Oct 2013. NRB issued such circular to all BFIs on August 11 (Sunday). As per this directive, commercial banks have to have a paid-up capital of Rs 2 billion and the national level development banks   have to make it Rs 640 million. Similarly, the finance companies have to have a minimum of of Rs 200 million.  

 

 

SEBON Inspects 30 Brokerage Companies

Securities Board of Nepal (SEBON) has inspected 30 brokerage companies after the complaint were filed against them. SEBON has inspected the detailed information regarding the buyers and sellers. Similarly, the on-site inspection also investigated matters related to anti-money laundering. The inspection has found that the brokers have been providing privilege to the larger investor than the smaller investors. Thus, they have been warned, not to repeat this behavior in future.

 

 

NBL Right Share Allotment 

Nepal Bank Limited (NBL) has allotted 3,360,606 right shares to the shareholders. Out of this, 13,972,866 shares have been allotted to Government of Nepal and remaining 19,387,740 shares to the general public. This allotment is 92.17 percent of the right shares issued. The remaining unsubscribed right shares are to be auctioned.

 

 

 

EIC Resumes Operation

Everest Insurance Company (EIC) resumed its operation from Sunday August 11 after an understanding between management team and agitation employees. Earlier, the Insurance Board had refused to renew the company’s licence as it had found embezzlement on payment of claim worth Rs 40 million to Himalayan Snax made by company.

 

 

Merger between Best and Samsara

The merger between Best Remit UK and Samsara Remit UK took place on Wednesday, 14 August. After the merger the new remittance company will operate in the name of ‘Best Samsara Remit’. 

Presidents of Best Holding Bhimkrishna Udas and Samsara Nepal UK Rajaram Giri signed the agreement for the merger. 

 

 

Mega Distributes Certificate

Mega Bank Nepal Ltd had started distributing share certificates to the allotted shareholders from August 12. 

 

 

Mega goes Branchless at Aargakachi

Mega Bank has started branchless banking services at  two locations of Aargakachi. The two places are Hansapur and Khiliji of Aargakachi. 

 

 

NIBL at Bharahathawa

Nepal Investment Bank Ltd (NIBL) has opened its 44th branch at Bharahathawa, Sarlahi. The branch was inaugurated by bank’s CEO Jyoti Prakash Pandey on August 15 (Thursday).

 

 

RMDC IPO Allotment

Rural Microfinance Development Center (RMDC) Ltd has allotted its IPO on Thursday August 15. Though RMDC had issued 1,560,000 unit of shares, it had got applications for a total of 17,429,240 units. 

 

 

 

GBIME at Hetuada

Global IME Bank has opened its 71st branch at Hetuada. The branch was inagurated by NPBC President Kush Kumar Joshi on Friday, August 16.