New NYEF team

KATHMANDU: Anuj Kumar Shrestha was elected president of Nepal Youth Entrepreneur Forum (NYEF) — the youth forum of Federation of Nepalese Chambers of Commerce and Industry. Ajay Bahadur Pradhanang, Sudhir Parajuli, Anish Kawara, Niranjan Shrestha, Mangesh Lal Shrestha and Tushar Todi are members of the new committee, according to a NYEF statement. — HNS

EBL profits Rs 624m

KATHMANDU: Everest Bank Ltd (EBL) gained Rs 624 million net profit in fiscal year 2008-09. It is 38 per cent more than last year, the bank’s statement read. EBL had net profit of Rs 451.2 million the preceding year. The bank got operating profit of Rs 1.06 billion in the period. The NPA of the bank has reduced from 0.68 per cent to 0.48 per cent, according to the statement by the bank. — HNS

Nepal SBI’s new ATM

KATHANDU: Nepal SBI Bank Ltd started its ATM service at Tansen, Palpa on Monday. The bank now has a total of 26 ATM counters and is planning to start ATM services at eleven more places including Gulmi, Hetauda, Kalanki, Ilam. — HNS

New ADBL CEO

KATHMANDU: Agriculture Development Bank Ltd (ADBL) management committee on Saturday appointed Shyamsingh Pandey as chief executive officer of ADBL. Pandey has assured of making the bank more effective and competitive along with quality service to its customers. He will stay as the CEO for four years. — HNS

Currency shortage

BIRATNAGAR: Eastern Nepal faces a shortage of Indian currency notes for exchange after the number of Nepali pilgrims, patients and traders going to India increased. According to tghe Biratnagar branch of Nepal Rastra Bank, it has been exchanging around Rs 15,00,000 worth of Indian currency to fulfill the demand. The bank provides Rs 50,000 to each of the 20 money exchange depots and around Rs 5,00,000 to the general people every day. Private individuals have the facility of getting around Rs 2,000 to Rs 25,000 according to the quantum of their necessity. — RSS

Railway survey

JANAKPURDHAM: The final technical survey to extend broad gauge railway service from Jayanagar to Bardibas has been initiated. Nepal Railways general manager Shyam Chandra Yadav said the expansion project under Indian assistance will take five years to complete. He said India’s Rights Company has initiated soil tests and the survey task will be completed within a year. He added that India has allocated Rs 10 billion for the project. He said the construction, operation and other costs will cross Rs 30 billion and the Nepal government should initiate positive steps to gather necessary funds. — RSS