Nepal Bank to provide government-subsidized loans to small business owners in Lumbini PROVINCE

Nepal Bank has inked an agreement with the Industry and Commerce Ministry of Lumbini province to provide loans to needy industrialists who come under the provincial government’s subsidy scheme.

Under this scheme, the business owners can avail of the maximum loan of Rs 20 lakh where the bank will only charge a 0.40% service fee, credit info charge and insurance premium. The province government will be reimbursing the interest charged by the bank on a monthly basis, as per the media statement.

The MoU was signed between Under Secretary of the ministry Mr. Bijay Bahadur Karki and Lumbini head of the bank Mr. Sushil Kumar Nepal, as per the media statement.

The bank currently has 222 branches, 198 ATM outlets, and 49 extension counters serving more than 23 lakh customers