First Business News Portal in English from Nepal
KATHMANDU: National Cooperative Bank Ltd has decided not to invest in agriculture and agriculture-based projects in the current fiscal year 2020/201.
The bank has removed the title of agricultural investment from the various titles under its’ investment areas.
The bank has stated that investment in agriculture should be removed in the current fiscal year on the basis of contemporary needs.
The bank claims that the title should be removed as the cooperative banks are the wholesale creditors of all the cooperatives and the concessional loan from the national bank is not available this time to invest in the agricultural sector.
Last year, the bank had invested a total of Rs 27.15 billion in loans, and out of which, Rs 73.54 million had been invested in agriculture projects.
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