NIDC Development Bank 49th AGM today; to endorse merger with Rastriya Banijya Bank

NIDC Development Bank Limited is convening its 49^th AGM at its central office located at Durbarmarga, Kathmandu today. The main agenda of the meeting is to provide authority to its BOD for necessary preparations for merger with Rastriya Banijya Bank Limited. Other agenda of the AGM includes endorsement of financial highlights of the FY 2072/73. Cabinet meeting of the ministers held on Magh 14, 2073 had signed a strategic agreement to merge both the government-owned banks. The register of the shareholders was closed from Falgun 20 to Chaitra 4, 2073 for the purpose of the AGM. NIDC Development Bank Limited has earned Rs 13.34 crore till the second quarter of the FY 2073/74. Its paid up capital stands at Rs 41.58 crore.