NRB Approves Merger of Mahalaxmi and Yeti

April 3: Nepal Rastra Bank has provided principle agreement to Mahalaxmi Bikas Bank and Yeti Development Bank for merger. The central bank approved the merger process of the two financial institutions on April 2. According to the merger agreement, the merged entity will start joint transaction in the name of ‘Mahalaxmi Bikas Bank’. The merged entity will have paid-up capital of Rs 2.63 billion, informs the bank in a press statement.