RBB and NIDC start integrated transaction

May 3: Rastriya Banijya Bank (RBB) and NIDC Development Bank have started integrated transaction under the name of Rastriya Banijya Bank from Wednesday, May 2, after completing the merger process.

After the merger between the two government-owned banks, the total paid-up capital of the banks stands at Rs 9.47 billion. Speaking at a program orgainsed to announce the integrated transaction of the banks, Finance Minister Yuba Raj Khatiwada said that the merger will strengthen the government-owned bank financially.

After the merger, the total number of branches of the bank across the nation has reached 191. A cabinet meeting on January 27, 2017 had decided to merge both the government-owned banks.