Rastriya Khadya Bank in operation; Planning to issue IPO

Kathmandu

Rastriya Khadya Bank Limited is the new bank in the country. The bank was established a few months ago under the slogan ”  “. The central office of the bank is located at New Baneshwor, Kathmandu and formally inaugurated today.

Chairman of the bank, Shankar Nath Upreti, said that the central office was formally inaugurated under the guidance of the staff and operators of the bank. The bank has been established with the objective of producing, storing and marketing commercial agriculture nationwide. The bank is established with an investment of Rs. 2 arba and aims to be one of the most advanced bank in Nepal.

The bank aims to address the issue of public health by reducing dependence on agriculture, increasing agricultural production, increasing employment and emphasizing on organic production. So far, the Khadya bank has 590 promoter share members. The bank has already announced to increase it to 1,000 promoter share members.

The Khadya bank also plans to issue an IPO to the public within a few years after fulfilling government criteria. Chairman Upreti said that the marketing of the Khadya bank’s products would be facilitated by increasing the share members and stakeholders.

In the first phase, the Khadya bank has started the process of starting agricultural production in 23 districts within this year. The bank has leased many land in different districts of the Terai for this purpose.

Chairman Upreti said that the organic grains produced by the bank will be available to the share members and consumers within this year.