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Banks
in Nepal |
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Development banks |
Araniko
Development Bank Ltd.
B class financial
institution licensed by
Nepal Rastra Bank and
promoted by former Central
bank officers and Business
men of dhulikhel
Municipality.
Agricultural Development
Bank
providing institutional
credit for enhancing the
production and productivity
of the agricultural sector
in the country
Nepal Development Bank
the first national level
development bank established
by the private sector in
Nepal. It has commenced its
operation since January 31,
1999. It has entered into
the subscription and
services agreement with
Industrial Development Bank
of India Ltd, the most
leading development bank of
India on 7th July 2003.
Infusion of NDBL's vision
plus IDBIL's 4 decades of
experiences in the
Development Banking will
further help to enhance the
performance of the bank. |
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News item 27-4-2010 |
Banks have been negotiating
with defaulters of huge
loans for their repayment
with the two sides nearing
consensus on a number of
major loans.
The Rohit Group that
borrowed money from Nepal
Bank Limited for Khandsari
Sugar Mill has proposed
repaying Rs. 287.5 million
out of the total Rs. 500
million owed to settle the
default case. The principal
amounts to around Rs. 23
million.
The group has pledged to
repay an amount worth more
than the value of the
collateral that stands at
around Rs. 230 million. The
Debt Recovery Tribunal (DRT)
had revalued its collateral
a few months ago.
"We are not satisfied with
the amount offered," said
Binod Atreya, CEO of the
Nepal Bank." But we have
taken the pledge
positively."
According to Atreya, the
borrower's proposal is being
discussed by the Nepal
Bank's board. "The board
will most probably decide in
favour of settling this
case," he said. The DRT has
also permitted a month's
period to settle the issue.
"We want that repayment be
made through consensus
between the lender and the
borrower," said an official
of the DRT.
Likewise, the consortium of
banks led by Rastriya
Banijya Bank that made a
loan to Maha Laxmi Sugar
Mill is also planning to
withdraw the case filed at
the DRT against the borrower
Birendra Kanaudiya as he has
started repaying the loan
like a normal borrower. His
outstanding principal stands
at Rs. 33 million. The
government has already
removed Kanaudiya from the
blacklist at the request of
the concerned banks after he
reached a consensus with the
banks to repay the loan. He
first made repayment of
around Rs. 100 million to
get removed from the black
list.
The consortium restructured
the loans allowing the
borrower to pay loans within
seven years including both
principal and interest.
According to Rabindra
Shrestha, chief of the loans
recovery department at
Rastriya Banijya Bank,
Kanaudiya paid interest
consecutively for two
quarters of a year after the
restructuring of his
loans.........
Read more about banks taking
action agains loan
defaulters
Other banking news and
articles:
New Plans Of Tourism
Development Bank
(14-03-2010)
Sunrise Bank Ltd
announces it will issue
new shares (09-03-2010)
Siddhartha Bank opens
new branch (29-01-2010)
NMB Bank rejects near to
5000 applications for
shares of the Sunrise
Bank (10-07-2009)
Change in Board of
Directors of NMB bank
ltd (09-04-2009)
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