Prime turns two

KATHMANDU: Prime Life Insurance Company (PLIC) has completed its first year of operation. During the first year, PLIC sold over 95,000 insurance policies and earned Rs 240.5 million. It has 12 branches currently and 3,000 insurance agents, said PLIC that has an issued capital of Rs 360 million. — HNS

Kist scheme closes

KATHMANDU: Kist Bank has closed ‘Kist Nar-Nari Deposit’ scheme from June 8 that was started by the bank on the occasion of its upgradation to an ‘A’ Class commercial bank. Under the scheme, the bank provided attractive interest rate of 10.5 per cent per annum. The scheme added 2000 new customers and collected around Rs 1 billion deposit in a month. — HNS

Chaudhary abroad

KATHMANDU: Binod Kumar Chaudhary, CA member and Confederation of Nepalese Industries (CNI) president, along an 11-member high-level team on Sunday left for a four-day Singapore business visit. The business meet between CNI representatives and Singapore Business Federation (SBF) will focus on joint effort of the organisations in various programmes and activities, according to a press statement. — HNS

Everest Bank’s CSR

KATHMANDU: Everest Bank Ltd (EBL) distributed T-shirts and caps for the team of Jyapu Samaj for the Rato Machhindranath festival. The bank has a network of 30 branches and five extension counters across the country. Opening in 1994, it has been conferred ‘Bank of the Year 2006’ by The Banker, London, for its quality and good governance. — HNS

PDB in second year

KATHMANDU: Bara’s CDO and Public Development Bank’s (PDB) president jointly inaugurated the second AGM of the bank that has targetted to upgrade it to a national level development bank by increasing paid-up capital up to Rs 640 million within the year 2010. — HNS

Mango yield to drop

NEPALGUNJ: Mango yield in Banke is likely to drop as compared to last year. Chief of the district agriculture development office Girish Kumar Mishra said mango is cultivated in 854 hectares of land in the district. Improved varieties of mango are grown in 750 hectares of land. — RSS

Mill workers protest

PARASI: Workers of Indira Sugar Mill located at Pratappur, Nawalparasi, are protesting the sacking of mill staff. They have demanded their re-instatement. All Nepal Trade Union Federation, Nawalparasi chapter, has warned of further protest programmes if the management refuses to roll back its decision. — RSS