Kalika Laghubita and Janasewi Laghubitta to start joint operation from Poush 23, 2076; Rastra Bank provides final nod

Nepal Rastra Bank (NRB) has provided the approval to the merger of Kalika Laghubitta Bittiya Sanstha (KMCDB) and Janasewi Laghubitta Bittiya Sanstha (JLBS). The joint entity can start their joint operation from Poush 23, 2076 with central office at Waling-08, Syangja.

KMCDB's central office is located in Syanja, Waling-08 and JLBS's central office is at Parbat, Kusma-09. KMCDB has authorized capital of Rs 50 crore, issued capital of Rs 10.80 crore and paid-up capital of Rs 10.80 crore. Likewise, the authorized, issued and paid-up capital of JLBS is Rs 30 crore, Rs 14.43 crore, and Rs 14.43 crore respectively. The authorized capital and paid-up capital of thde merged entity will be Rs 50 crore and Rs 25.23 crore respectively.

The merged entity will be named Kalika Laghubitta Sanstha. The chairman's position will be held by Bikas Gauchan, current chairman of JLBS and the chair of CEO will be held by Min Bahadur Bohora, current CEO of KMCDB. The entity will have a network of 96 branches.

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