Fiscal Nepal
First Business News Portal in English from Nepal
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KATHMANDU: NIC Asia Bank has been appointed as an exclusive banking partner of the Citizen Pension Scheme that was introduced by Citizens’ Investment Trust.
The bank’s CEO, Roshan Kumar Neupane, and the fund’s Executive Director, Raman Nepal, inked the memorandum of understanding amid a function on Friday.
As per a press statement released by NIC Asia Bank, it was appointed as an exclusive banking partner for the scheme that aims to encourage the public to save, mobilize savings for the economic development of the country and to facilitate the livelihoods of the depositors from the money saved during their active life.
The bank further added in the statement that all Nepali citizens who are earning can participate in the scheme. Under the scheme, the participants have to pay a monthly installment. The minimum monthly installment has been set at Rs500.
The bank believes that the agreement will bring about positive changes in the lives of the public.
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