BIZ BRIEFS

NIC Bank’s scheme

KATHMANDU: NIC Bank has launched a new savings account called ‘Karmashil Bachat Khata (KBK)’ designed for employees. KBK is can be opened with only initial balance of Rs 500, states a press release. The product is aimed at serving lower middle class working in private, government and social organisations. The bank will issue a free NIC cash card, SMS banking

and ABBS facility and it pays three per cent interest. — HNS

New finance company

KATHMANDU: Suryadarshan Finance Co Ltd (SFCL), Nepal’s youngest and 77th finance company, has begun its formal operation from Sunday. Bir Bikram Rayamajhi, deputy governor of Nepal Rastra Bank launched the financial transactions of the company. — HNS