Sanima's association account scheme

Sanima Bikas Bank Limited has introduced a new concept of providing introducer with the share of the interest in an account that they help open. The recently launched Association Account targets associations running through donations or those that in the need of fund.

Under this scheme, an association or club with an account in the Sanima Bikas Bank, when introduces any other people to open an account in the bank, earns 0.5% of the total interest earned by those people.

"The people introduced by the association get their share of interest and the introducer also gets the 0.5% of the interest which probably is provided by Sanima Bank alone throughout the country," Madhu Sudan Rimal, assistant relationship officer at the bank, said. He also claimed the new scheme is doing pretty well in the market as there are many such clubs and organization that are in the need of fund to operate.
Source:Republica

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Prudential launches new scheme

Prudential Finance Company has launched a new scheme Prudential High Growth promising interest return of 12 percent to this fixed account holders.

Issuing a press release, the company said the new scheme has been launched view to deliver high yield to its customers. Apart from the high interest rate, the company also said the clients of this scheme would also enjoy accidental death benefit equal to the deposit amount.

The press release further states that the company has increased its fixed deposit interest rates to 9 to 12.75 percent. The company is operating with paid-up capital of Rs 100 million and unveiled a plan to raise it to Rs 300 million through rights issue at the ratio of 1:2.
Source:eKantipur

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Two new products of Jyoti Bikas Bank

Jyoti Bikas Bank (JBB) has launched two new deposit schemes as part of its products growth strategy.

The new product of the bank includes, Divya Jyoti Bachat Khata that will provide 6.5 percent interest is targeted at the youth. Any youth opening this account will get a free ATM card, said a press statement issued by the bank.

Similarly, Jyoti Super Premium Bachat, offers 8.5 percent interest.

According to the bank, it also organised a one-day free banking training program for college students.

More than 900 students of Himalayan White House College, V.S. Niketan College and Golden Gate College participated in the program.
Source:Arthakoartha.com

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ADBL to provide LC, forex service

The Agricultural Development Bank Limited (ADBL) is getting ready to issue letters of credit (LC) and provide foreign exchange service. Following the Bank and Financial Institution Act 2006 which opened the door for it to provide these services as an A class commercial bank, it is now preparing the working procedures for the two services.

Earlier, the Agricultural Development Bank Act had prevented it from providing non-fund based services. The act had categorized it as a development bank. The act has been scrapped and it now operates under the Bank and Financial Institution Act like other banks. "We are making preparations to start LC service within the next two months," said Shyam Singh Pandey, chief executive officer of the bank. "We will try our best to start providing foreign exchange service by that time." Bank officials said that the bank was losing commission-based businesses although there was much potential. It has been referring its customers wanting to open LCs to the Bank of Kathmandu as per an agreement made between the two banks.

Customers deposit collateral at the Agricultural Development Bank while the Bank of Kathmandu issues the LC. The two banks share the commission generated by the transaction. Pandey said that the bank had been losing customers as it was unable to provide complete banking services. "Traders and contractors have been running away as we are not able to provide these services," Pandey said.

The bank has built a counter for the foreign exchange department at its head office. "A team is working to formulate a procedure for providing this service," Pandey added.
Source:eKantipur

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DCBL offers new deposit schemes

DCBL Bank has launched three new deposit schemes. The bank on Sunday introduced DCBL Individual Fixed Deposit (Muddati Nichhep), DCBL Sampati Karobar Bachat Khata and DCBL Sampati Karobar Call Khata.

DCBL Muddati Nichhep pays 10 percent quarterly interest to depositors while the other two are aimed at individuals and institutions involved in land transactions. "The bank has introduced DCBL Sampati Karobar to ensure transparency in land transactions," said Sudheer Khatri, chief executive officer, at a press meet.

According to Khatri, an increasing liquidity crunch and high rate of institutional investors have forced the bank to come up with DCBL Muddati Nichhep. "Institutional depositors are asking 9.75 percent interest and the growth of remittance inflow has decreased," said Khatri. "In this scenario, we've decided to go to the public."
Source:eKantipur

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BoK launches Visa credit card

Bank of Kathmandu (BoK) has started issuing BoK Visa Credit Card, it said in a statement Sunday. Announcing the launch of the new card, BoK said that a portion of the fees from the card will be used to support the fight against climate change through programs of National Trust for Nature Conservation (NTNC). The card is also valid in India, the bank said. BoK currently offers banking service through 31 POS throughout the country and has ATMs in 27 locations.
Source: Republica
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Laxmi Bank launches mobile payments

Laxmi Bank, one of the leading commercial banks of the country, Sunday launched mobile payments in Nepal under the brand Mobile Money, which according to the bank, is a complete mobile banking. The new system, which is available only to account holders of the bank, enables people to transfer money to 10 chosen customers of the Laxmi Bank or pay phone bills by using mobile phones.

According to a press statement issued by the bank, launch of Mobile Money marks an evolution for basic information-oriented SMS service, focused mainly on non-financial transactions such as balance checking and transaction alerts to actual financial transactions such as fund transfers and bill payments. The launch of Mobile Money by the bank, which is in its seventh year of operation and the leader of electronic banking in Nepal, is sure to bring a major change on ways of services that Nepali banks are providing to their customers, said Suman Joshi, CEO of the bank. "The true anytime-anywhere service conducted through mobile phones will enable customers to conduct major banking activities without visiting a branch, ATM kiosk or logging to the internet," Joshi added.

Answering queries raised by pressmen, CEO Joshi said the latest mobile banking technology has been put into implementation after a yearlong study conducted in different markets with similar infrastructures and that the security of the system has been properly tested. Joshi further informed that cost of the transfer of funds from and to personal accounts will be Rs 10 per transaction, whereas the facility of paying phone bills will be available free of cost to the bank´s account holders. "We believe that as the penetration of mobile phone increases, the newly-launched service can be developed as the most economical and convincing tools of making payments," Joshi emphasized.
Source:Republica

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RBB launches Mobile Pay

Rastriya Banijya Bank (RBB), the state-owned commercial bank, has launched ´Mobile Pay´ a new service under which customers can recharge their mobile accounts from the bank´s outlets. Issuing a press statement on Wednesday, the bank said its branches in Kathmandu valley as well as in Biratnagar, Birgunj, Pokhara and Nepalgunj will provide the newly introduced service to the customers.

The bank´s customers holding Nepal Telecom´s Prepaid and CDMA service will be entitled to enjoy the new service. The bank has also said that it is also introducing another service that facilitates the customers to pay the bill of internet and telephone. The country´s largest commercial bank in terms of deposits and branch network has already computerized its 116 branches and is providing internet banking and SMS banking services besides ATM services from 20 branches.
Source:Republica

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'Hello Nepal' to ring from next week

Nepal Satellite Telecom (NST), the fifth telecommunication company of the country, is formally launching the new mobile services from September 24. "We will introduce our service in the mid and far western regions of the country from the next week," Ajay Raj Sumargi, director of the company, said on Thursday. The company announced that it will be marketing its GSM mobile under the brand name of ´Hello Nepal´. It, however, has not unveiled tariff of its mobile services.

"The rates are yet to be finalized because we are yet to get approval for the inter-connection charge. We will announce the tariffs as soon as inter-connection charge is fixed," said Sumargi. He also elaborated that the general people will largely be able to enjoy NST´s service after Tihar festival in mid-October. NST has obtained the operating license, setting mid-western region as its operational base. It has joint investments from Nepal, Pakistan, Bangladesh and Cyprus. Nepal´s Muktishree Telecom has 95 percent stake in the company, while Pakistan Mobile Communication and Bangladesh´s Sewa Telecom enjoy 3 percent and 2 percent stake respectively.

The company also announced that it will be investing $ 25 million for the expansion of its services in the first phase. Sumargi, who has gained experience in telecom business during his spell at Spice Nepal, stated that the new company has technicians and professionals experienced both in the country and outside. NST provides services in mid and far western development regions of the country that have sparse penetration of mobile services. It will be catering services to the people in 273 village development committees of the regions.

Going by the condition of Nepal Telecommunication Authority (NTA), the company will be allowed to expand services in the other regions only after it becomes able to distribute mobile service as soon as people demands in the two regions. The company also unveiled a slogan of ´Information and Communication, People´s Base of West Nepal´ to highlight its presence and objectives in the market. The number of Hello Mobile will start from 963 and will be of 10 digits, according to Asmita Sumargi, chairman of the company. She elaborated at a program that the company will gradually start distributing CDMA mobile service and providing international gateways. NST officials also announced that they will expand services in the Kathmandu Valley as soon as they fulfill the distribution condition set by the NTA
Source:Republica

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Everest, Yeti sign e-ticketing deal

Everest Bank and Yeti Airlines signed an agreement on Sunday to initiate e-ticketing for domestic flights. Customers of Everest Bank can now purchase tickets of Yeti Airlines online. As per the agreement, customers having internet banking facilities at Everest Bank can get an e-ticket by booking it online. Yeti Airlines has started this service for its flights from Kathmandu to Pokhara, Biratnagar, Bhadrapur, Bhairahawa and Nepalgunj.

"This is the first e-ticketing service in Nepal for domestic flights through the banking system," said Pradeep Bikram Shah, sales and marketing director of the airline. "It will help customers immensely." According to Shah, around 500,000 people fly Yeti Airlines annually. B.K. Shrestha, chairman of Everest Bank, said that the bank was talking with other airlines to initiate this service. R.K. Ummat, chief executive officer of the bank. said, "We're in the process of reaching an agreement with other domestic airlines and international airlines for this service." One can book five tickets at a time through banking e-ticketing at present. Likewise, members of Yeti's Sky Club can open an account at any branch of Everest Bank with zero deposit and also get a debit card free of cost. Yeti Airlines serves 29 destinations in the country. Similarly, Everest Bank has 34 branches all over Nepal.
Source: Kantipur

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Nabil's savings scheme

Nabil Bank has launched a special savings scheme, Miss Players Nabil Nari Bachat under a co-branding arrangement with Miss Players, a premium clothing brand for women of Surya Nepal. The scheme offers an interest rate of 5 percent per annum on a minimum balance of Rs. 500. Customers will also get Visa Electron Debit Cards. All the new account holders under this scheme will get gift vouchers worth Rs. 500 each from Surya Nepal.
Source: Kantipur
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United Finance: Discount for women

United Finance has announced a special concession for women obtaining credit on the occasion of the Teej festival under which women borrowers will be able to get loans at a discount of 1 percent on the existing interest rate. Likewise, they will get a concession on the credit service charge of 50 percent for applications that the company receives between mid-August to mid-September, the company said in a press statement. The Nawanari Teej Offer will be applicable to housing loans, real estate loans, educational loans, trading loans, credit to purchase shares, personal loans and hire purchase schemes. It has already started Nawanari Savings Account targeting women.
Source: Kantipur
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Nabil Bank: Miss Players account

Nabil Bank has launched a special savings scheme — Miss Players NabilNariBachat — under a co-branding arrangement with Surya Nepal’s Miss Players, a premium clothing brand for women. It offers five per cent interest on a minimum balance of just Rs 500, said the bank. The customers will be offered a specially crafted Visa Electron Debit card and with this Nabil Bank is the first Bank ever to have offered a special Visa Electron Debit Card for the Women populace. The scheme comprises of various attractive features which has been introduced for the benefit of the target group. All new account holders will get gift voucher worth Rs 500 from Surya Nepal which can be used at Miss Players and John Players outlets.
Source: THT
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Citizens Bank to start 2 new schemes

The Citizens Bank Limited (CBL) is all set to introduce ‘Citizens Ghar Dailo’ and ‘Gold Loan Scheme’ program with a view to make a direct links with its customers. This will come into effect from July 17th, the bank said in its press release.

According to the bank, this service will facilitate the customers to directly link with the Bank’s correspondent in regard to the banking services. In the first phase, the bank is planning to mobilize 2500 students from different educational institutions. After two weeks of this service delivery the bank will have 17 branches, the bank said.

In the ‘Gold Loan Scheme’ program, the customers of this bank could deposit gold to take loans and advances. This scheme will be started at Biratnagar, New-road and Boudha branch in the first phase.

According to the bank, it collected Rs.11.52 billion as deposits and floated Rs.8.21 billion loans in the last fiscal year. In the same period, the bank succeeded to collect Rs.184. 5 million operating profit. The bank has 45,000 customers till the date.
Source: Arthakoartha.com
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Suryadarshan Finance Launched 4 new products

The Suryadarshan Finance Company Limited (SFCL) on Wednesday launched four new products in the market to facilitate customers as per their demands and needs.

The newly launched products include free SCT ATM Debit Card, Suryadarshan Nari Bachat, Suryadarshan Bidyarthi Bachat and Suryadarshan Jesta Nagarik Bachat, said a press statement issued by the SFCL.

The SFCL, which is promoted by the British Gurkha Group, will provide 8 per cent interest for Nari Bachat scheme in daily savings for women. The company will not charge any fee to open this account.

Similarly, Bidyarthi Bachat scheme will provide 7.5 per cent interest in daily savings for students. The bank will charge Rs.100 for the opening of this account.

In the Jesta Nagarik Bachat scheme, there will be 7.5 per cent interest in daily savings. The people above 50 are qualified for this scheme. They can open their accounts with zero deposit.

According to the company, in the closing of the last fiscal year, it made a transaction of Rs. 368.6 million. In the same period, the company collected Rs.201.5 million as deposits and floated Rs. 181.2 million as loans and gained Rs.4.78 million as profits in totality.
Source: Arthakoartha.com
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