Nirdhan Utthan Bank Limited becomes National Level Microfinance Development Bank of Nepal
November 23, 2009 - News
Nirdhan Utthan Bank Limited (NUBL) received formal recognition as "National Level Microfinance Development Bank" from the central bank of Nepal, Nepal Rastra Bank. The recognition came after the NUBL fulfilled the minimum capital requirement of NPR 100 million as paid-up equity. Being a national level microfinance bank, it can now expand its service all over the country by establishing its branch network in all 75 districts of Nepal. It is the first microfinance bank of Nepal to be recognized as National level microfinance bank.
The journey of NUBL started with the inception of "Nirdhan" as an NGO in 1993 with establishment of project office in Siktohan VDC of Rupandehi, Nepal. Later, NUBL was created as a limited company to operate microfinance activities under Development Bank Act of Nepal. Now, operating under Bank and Financial Institution Act, Nirdhan Utthan Bank limited operates in 24 districts with 75 branch network.
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