NBC opens eight branch in Narayanghad

By Our Correspondent

Chitwan:Nepal Bank of Ceylon has opened it eighth branch office in Narayangarh from October 16.

The Nepal Bank of Ceylon was established in 2053 BS as a joint venture bank with Sri Lanka National Bank holding 49 per cent of the shares and Nepalese investors making up the remaining 51 per cent.

"On the opening day 94 people have opened their account with Rs. 3 million," Ashok Sherchan, Manager of the Narayangarh branch of the Bank said.

He said apart from the usual facilities, the bank has additional facilities like child and women protection programme. The bank will also provide insurance facility that is equivalent to five times the saving account. The other facilities under this scheme are medical facility of Rs. 10,000 in one fiscal year and the depositors can take out their money from any branch of the bank.

NRB called for effective monitoring of banks

Kathmandu (RSS): Speakers at a day-long workshop here today on corporate governance in Nepal emphasized the need for the Nepal Rastra Bank to monitor and evaluate other banks, reconstitute the boards of directors of the banks, make bank policy effective, adopt transparency in credit investment, and modernize the banks for their own sustainable development.

They also pointed out the need for the institutional development of a capital market which has an important role in the economic development of the country, make such a market open and competitive and regularize the functioning of the stock exchange.

On the occasion, vice-chairman of the National Planning Commission (NPC) Prithivi Raj Ligal said capital markets and financial institutions have an important role in the economic development of the country and emphasized the need for the development of an atmosphere appropriate for the relatively competitive nepalese capital market.

Chairman of FNCCI human resources development committee Pradip Man Baidhya said liberal and transparent policies should be introduced for the development of Nepal’s business sector.

NPC member Dr Shanker Sharma and other speakers also expressed their views at the programme chaired by advisor to the prime minister Dr Prakash Sharan Mahat.

The workshop was organised jointly by the Centre for Development Governance and the Focal Point for Financial Sector.