The State Bank of India (SBI) has increased its capital investment at the Nepal SBI Bank Ltd. The investment has been increased by 5 percent, hence making the total investment to 55 percent.
The Nepal SBI Bank Ltd. is the first Joint Venture Bank of its kind, having share investment of an Indian State owned bank. 30 percent of the total capital has been issued to the general public and the 15 percent has been owned by the Citizen Investment Trust (CIT).
As per the Nepal Rastra Bank (NRB) regulation to release the share owned by any financial institution of another financial institution, the Agricultural Development Bank had auctioned the 5 percent share of the Nepal SBI Bank Ltd, which was acquired by the SBI by the highest bid.
Source: arthakoartha.com
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Wednesday, June 3, 2009
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