Kanchan Development Bank has started its formal operations from Thursday, the Kanchanpur-based bank said in a statement. The bank, with its head office in Bhimdatta Municipality, has a paid-up capital of Rs 100 million.
The ´B´ category bank currently has permission from Nepal Rastra Bank to operate in Kanchanpur, Kailali and Dadeldhura but aims to expand to the rest of the country in the future, the statement added. The bank´s Board of Directors is chaired by Shiva Singh Karki while Pushkar Raj Joshi is its CEO.
Source: Republica
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