NIDC Development Bank to merge with Rastriya Banijya Bank; AGM on Chaitra 4

NIDC Development Bank Limited is convening its 49^th AGM at its central office in Durbarmarga, Kathmandu on Chaitra 4, 2073. 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 include 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 will remain 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.