RSDC Laghubitta AGM today to elect two directors

ShareSansar, September 28:

RSDC Laghubitta Bittiya Sanstha Limited is holding its first Annual General Meeting today.

The annual event being held in Butwal will appoint two promoter directors and endorse the financial report of the microfinance institution for the last fiscal year 2070/71.

It may be noted that in RSDC’s net profit has risen by eight times by the fourth quarter of the last fiscal year as compared to the previous quarter.

RSDC, a class ‘D’ microfinance company based in Rupandehi has stated that its net profit has risen from 1.26 lakh in the third quarter to Rs 8.83 lakh by the end of the fourth quarter.

It had mobilized Rs 2.55 crore in borrowing and Rs 2.25 crore in loan, up from Rs 70 lakh in borrowing and Rs 1.02 crore in lending during the review period.

Its interest income has risen from Rs 38.06 lakh in the third quarter to Rs 83.46 lakh by the end of the fiscal year.

It has also provisioned Rs 22.77 lakh for possible losses