Gorakh Rana, representative of Standard Chartered Bank, elected as chairman of RMDC

The Board of Directors (BoD) meeting of Rural Microfinance Development Center Ltd.held on Magh 20, 2072 has elected the representative of Standard Chartered Bank Limited, Mr. Gorakh Rana as the chairman of BoD. Mr. Rana is the head of Corporate & Institutional Clients and Financial Markets of Standard Chartered Bank Limited. The BoD has also thanked the ex- chairman of RMDC Mr. Ashok Sumsher Rana, CEO of Himalayan Bank Limited for his contributions. Mr. Jitendra Bikram Shah had been elected as a member of BoD representing Himalayan Bank Limited. RMDC was established in Kartik 13, 2055 BS as a wholesale lender to MFIs. Besides, it has been extending institutional capacity building supports to MFIs. Currently, RMDC is one of the prominent wholesale lending organizations for MFIs in the country. By the end of Poush 2072, RMDC has collected Rs 11.16 arba out of total 15.45 arba loan floated.