Everest Bank opens branch in Dhangadhi

Dhangadhi (RSS): Everest Bank Ltd., a joint venture with the Punjab National Bank, has established its branch office here recently.

Inaugurating the branch office, chairman of the Bank B. K. Shrestha said that the Bank is not only focusing its activities on commercial dealings but also concentrating its activities on the uplift of the rural poor.

Branches of Bank of Kathmandu, Nepal Bangladesh Bank and head office of Malika Development Bank have already been established in Dhangadhi in addition to the branches of government-owned Rastriya Banijya Bank and Agricultural Development Bank.

The new bank branch had succeeding in collecting deposits amounting to Rs. 17 millions in the first day of its establishment.

TDF sanctions loan to two municipalities

Kathmandu, Oct. 21 (RSS): Town Development Fund (TDF) has sanctioned Rs. 28,559,500 to Mechinagar Municipality and Rs. 7,261,450 to Bharatpur Municipality.

An agreement to this effect has been signed by Hemanta Gyawali, executive director of the TDF and Mechinagar Mayor Rabin Koirala and Bharatpur Mayor Him Bahadur Piya on behalf of their respective bodies.

Under the agreement, 85.5 per cent of Rs. 33,577,500 sanctioned for the construction of the building of Mechinagar Municipality under the first phase will be provided by tdf as soft loan and the rest of the fund will be borne by the Ministry of Local Development and Mechinagar Municipality.

Apart from the construction of the office building, the first phase construction works includes the construction of the building for fire brigade, residences for town police as well as for employees and boundary wall.

Similarly, 90 per cent of of the total RS 8,068,280 sanctioned for the construction of Mahendra Bus Park in Bharatpur Municipality will be provided by TDF as soft loan and the rest of the fund will be borne by the Ministry of Local Development and the Bharatpur Municipality.

It is expected that the passengers will benefit from the operation of the transport services to Pokhara, Kathmandu and Gorkha and some western part from the Mahendra Bus Park after its improvement.