Newly reshaped Rastra Utthan Laghubitta organizes swearing in ceremony for its chairman Mr. Tek Raj Joshi; to issue IPO of Rs 8.50 crore

As per the directives from NRB to convert all the non-governmental organization microfinances to the list of regulated BFIs as a microfinance institution, the then Nepal Gramin Bikas Sanstha and the current Rastriya Utthan Laghubitta has convened an oath taking ceremony for its chairman Mr Tek Raj Joshi from the ED of Nepal Rastra Bank Mr. Narayan Prasad Paudel amid a program. Chair Mr. Joshi represent the Rastriya Banijya Bank which is one of the promoters in the microfinance institution.

The event was also attended by Mr. Chiranjibi B.C. representing Prabhu Bank, another promoter institution, ED Mr. Sudhir P. Lohani, Deputy ED Mr. Jagannath Kuikel among others.

The microfinance institution with issued capital of Rs 26 crore will issue Rs 8.50 crore shares to general public as IPO in a near future, as added by the institution in its media statement.