Development Banks

Development banks are 'B' type Financial Institution. On the basis of geographical coverage and activity level, the development banks are three types and these are a) 1- 3 districts type b) 4- 10 districts type and c) national type .

As per th NRB rules the paid up capital requirement for these development banks are respectively NRs. 100, 200 and 640 millions respectively.

Many of these development banks are in the process of merging with likeminded organization and restructuring the organization to establish a stronger financial institution.In the process, some development banks are acquirring finance companies or are merging with other stronger finance company or development bank or with the commercial bank.

Development Banks have following functions:

Provision of Capital to Industries, which can play role in economic development.

Lends money to small scale industries.

Services of Mutual Funds

Funds raising schemes for development companies.

and much more.

Introduction:

Muktinath Bikas Bank Limited (MNBBL) is another renowned name in Nepalese banking sector. Established on Poush 19, 2063 B.S., Muktinath Bikas Bank Limited has obtained permission from Nepal Rastra Bank to operate as a "B" class regional level financial institution, At present the Bank has been upgraded as National Level Development Bank from regional level by way of acquisition to Dhading based development Bank Civic Development Bank Limited.

The central office of the Bank is situated at Pokhara-9, Prithvichowk of Kaski District. It has a special wing for Micro-Credit finance which is a model for micro banking activities throughout the development banks in Nepal. The Bank is committed for good corporate governance practices and banking activities with prudent banking culture. It has been offering various products and services for its customer with competitive rate in market. It has been able to provide diversified service (Modern Banking, Limited Banking and Microfinance) backed by the latest technology.

At present MNBBL is one of the largest National Level Development Bank with Branch Network of 29 modern banking branches, 20 limited banking branches, and 45 microfinance desks with depositor's base of more than 1 lakh 74 thousand customers. We are in the process of opening more branches in this fiscal year. Muktinath team is always determined to provide services which are supreme in the industry.