RBB and CIT Enters Central Depositary Agreement

July 17: Rastriya Banijya Bank (RBB) and Citizen Investment Trust (CIT) have finalised an agreement regarding depositing Trust’s money in the central account of the bank. Kiran Kumar Shrestha, CEO of RBB and Ram Krishna Pokharel, Executive Director CIT signed the agreement on behalf of their organisation.

According to the agreement, collection and transfer of money of the Trust through ABBS will be made easier and facilitated from all the branches of RBB. The agreement will be implemented from the beginning of the new FY.

After the agreement, all other accounts of CIT in the bank will be closed and transaction will be carried out from the branches included in ABBS of CIT which are Thapathali, Teku and Baneshwor branches.  “For that matter, the bank will provide different coloured vouchers for the Trust with account name and number,” informed Uddav Silwal, Information Officer of CIT. The Trust have earlier finalised the same nature of agreement with Nepal Bank.