May 9: Special general meeting of NMB Microfinance, held on Saturday, has decided to issue 1:1.2 right shares of existing 460,000 shares. The microfinance will issue 552,000 right shares increasing its paid-up capital to Rs 101.2 million. The microfinance that has opened 28 branches in short span of time is providing banking services to families resided in rural mountainous and hilly region.

“As per the NRB directive of expanding financial services in rural areas, the microfinance has selected 15 districts from Eastern to Far-Western Development Region,” says Uttam Bhole, Chairman of the microfinance. In the SGM, he also informs of starting SMS notification services for customers’ convenience. In the occasion, the microfinance informs of providing Rs 830 million collateral free loans to 32 afflicted families from 28 branches. “The microfinance has collected deposit above Rs 160 million. It has submitted proposal in NRB for expansion of working areas in additional 10 districts,” says Tejendra Sharma Lamsal, CEO of the microfinance.