RastriyaBanijya Bank signs pact with FNCSI for concessional loan

KATHMANDU: Rastriya Banijya Bank has signed an agreement with the Federation of Nepal Cottage and Small Industries (FNCSI) on Tuesday as per which concessional loans will be provided to the needy cottage and small and medium scale enterprises (SMEs).

The bank’s CEO, Kiran Kumar Shrestha and Acting President of FNCSI Umesh Prasad Singh inked the agreement following which, the federation will arrange necessary training and provide consultations on entrepreneurship to the entrepreneurs associated with the federation and recommend them for accessing the loan from the bank.

Shrestha said that the agreement will help in the implementation of the government’s policies and programs and support entrepreneurship development in the country. He said that the loans will be available through all its 241 branches located across the country.

Likewise, Singh also expressed hope that the loans will financially support the domestic and small entrepreneurs. He informed that there are around 35,000 entrepreneurs who are directly associated with the federation at present. Since the entrepreneurs will be taking loans on the basis of the federation’s recommendation, Singh assured that recovering the loans will be its obligation.