National Khadya Bank established with investment of Rs 2bln

The office of National Khadya Bank has been inaugurated with an investment of Rs 2 billion in Kathmandu.

The Bank was established a few months ago under the slogan 'Sustainable Agriculture for Nutrient-Rich Food' in order to give priority to organic production.

Chairperson of Bank, Shankarnath Upreti, said that the bank was established with the objective of giving emphasis on organic production by reducing dependency on agriculture.

The bank was established at the investment of Rs 2 billion and it has 590 promoter share members so far. Preparation has been made to increase the number of promoter share members to 1,000.

Upreti further said that the bank has been making preparation to issue IPO for general people soon by fulfilling all required criteria.

He shared, "We facilitate the production of and carry out trade in rice, wheat, maize, vegetables, and fruits through the bank. We increase production collaborating with farmers."

The bank has made preparation to begin activities of agriculture production in 23 districts in the first phase within the current fiscal year. Six hundred bighas of land in different districts of Terai have been taken on lease for the same purpose.

The bank has already started production in 13 districts including Kailali, Kanchanpur, Bardiya, Jhapa, Morang, Sunsari, Chitwan, and Rupandehi taking land on lease.

Reducing dependency on agriculture, increase agricultural production, and employment and addressing the issue of public health-giving emphasis on organic production are some of the goals for the establishment of the bank.