April 29: The Butwal-based Nepal Community Development Bank has opened its 7 ^th branch in Manigram of Rupandehi. The bank also informed that the new extension counter in Shankar Nagar has become operational.

“The bank, having the authorised capital of Rs 300 million, issued capital of Rs 209.5 million and paid-up capital of Rs 109.5 million, has collected Rs 1.15 billion in deposits while the loans have totaled Rs 930 million by mid-April,” says Bhakta Bahadur Khadka, Company Secretary of the bank. The bank is planning issuance of right shares in the ratio 1:1 within the current fiscal year.