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NIC Asia starts loan for deprived sectors

20161125012405_nicNIC Asia Bank Ltd has started floating deprived sector loans.
Issuing a statement, NIC Asia said that the service has been started targeting farmers and traders of the rural parts of the country.
According to the bank, Governor of Nepal Rastriya Bank (NRB), Chiranjibi Nepal, started the service by handing over loan papers of Rs 7,00,000 to poultry farmer, Kumari Damai, who is the customer of the bank’s Attariya branch.
On the occasion, Laxman Risal, CEO of the bank, said that the bank would fulfil the provision of two per cent direct lending for deprived sector by the end of this fiscal as directed by the central bank. He also mentioned that the loan scheme was started to help provide easy loans to the deprived communities of the country.
“The bank believes that the service will help the people of rural areas to collect money for their businesses. The bank will provide the service from all of its branches,” the bank said in the statement.
NIC Asia Capital officially starts
NIC Asia Capital Limited, a subsidiary company of NIC Asia Bank has started its operation. Dr Rewat Bahadur Karki, Chairman of Securities Board of Nepal (SEBON) officially inaugurated the company amid a function on March 5.
“Considering the need of service provider companies in the present initial phase of Nepali market, NIC Asia Capital  has been launched in order to function as merchant banking and to make banking sector universal,” said Laxman Risal, CEO of the bank.
In the program, he informed that the company is planning to bring a new mutual fund scheme. The capital will provide services related with capital market from the office located at Babarmahal.

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