KBL’s clarification

KATHAMDNU: Kumari Bank Ltd (KBL) has slammed the news about the alleged directive of Nepal Rastra Bank (NRB) to remove their promoters and take over the management. “KBL has not got any letter or directive to remove its promoters or about takeover of the management by NRB,” a press note read. The bank vented its anger at the attempt to tarnish its reputation. KBL has clarified that it is in smooth operation mandated by its eighth AGM on April 1. — HNS

New savings scheme

KATHMANDU: Manjushree Financial Institution Ltd has introduced a new savings deposit scheme, ‘Balloon Savings Account’. According to a press statement, account holders under this scheme will receive interest up to 905 per cent on a daily basis, payable quarterly. Interest rate will increase every quarter upto 2 years. Other features include free accident insurance of Rs 1 lakh, 0.5 per cent waiver of loan processing fee, free ATM card and SMS banking services. The company collected a deposit of Rs 340 million, provided loans and advances of Rs 400 million and has operating profit Rs 10.05 million. — HNS

USNPL meet

KATHMANDU: United Spirits Nepal Pvt Ltd held its second all-Nepal distributors’ meet at Gokarna Forest Resort on Saturday. The meet was held to mark the sale of 90 million cases worldwide by UB group and three lakh cases sold across Nepal. Film personality Jharana Thapa was the guest of honour. The meet gave a clear indication of UB group’s growing strength in Nepal. USNPL currently has eight brands under its umbrella and plans to diversify by introducing foreign Scotches. — HNS

Agri Radio

DHADING: The country’s first agriculture radio is going to be launched from Dhunibeshi of Dhading district. According to Dhunibeshi Community Agricultural Communication Center, the promoter of Agriculture Radio 105 MHz, preparations are underway to begin trial transmission within mid-July. — RSS

Cheese factories

ILAM: In view of increasing demand in the international market for cheese produced in Ilam district, a cheese factory each at Naya Bazaar and Maipokhari VDC will be set up. The Ministry of Agriculture and Cooperatives has lent Rs 600,000 to build the factories. Bal Bahadur Khadka, an official of Pashupatinagar Cheese Production Centre, said the construction process has begun. — RSS