LBL in Chitwan

KATHMANDU: Laxmi Bank opened its second branch in Chitwan, making it a total of 19 branches and 15 ATMs in addition to around 400 payment agents across the country. Laxmi Bank is already a major player in the Narayani region with branches in Birgunj and Narayanghat. Chitwan is a very economically active region. “The branch will play an active role in increasing our business in Chitwan and offer a range of personal banking services such as various savings and derivative deposit schemes that pay interest up to seven per cent per annum, life insurance and remittances,” said the bank. — HNS

CG Infra, IL&FS tie-up

KATHMANDU: CG Infra Ltd — a member of Chaudhary Group, Nepal — signed a MoU with IL&FS, India, to co-develop an effective Integrated Municipal Solid Waste Management (SWM) system for Kathmandu valley. A scientific, large-scale, well-integrated plan for solid waste collection and disposal is needed for daily waste generated in Kathmandu alone. According to Arun Chaudhary, MD of Chaudhary Group, this MoU marks a milestone in the SWM system in developing a compost fertilizer and a landfill in tune with international norms. Working under PPP would be the next best step as the private sector can bring in efficiency and technical expertise and the public sector can bring in monitoring and enforcement. — HNS

SOTTO’s demand

KATHMANDU: The newly-established organization of travel enterprenuers — Society of Travel and Tours Operaters Nepal (SOTTO-Nepal) has demanded ticket booking system (GDS) to every registered travel agency. SOTTO has also demanded to stop the system of paying back the immigration penalty and return ticket of deported foreigners. “The ongoing talks between the travel agencies and airlines have resulted in further complications,” said SOTTO-NEPAL. The travel enterpreneurs have demanded a stop to discrimination on the basis of IATA and non-IATA. A series of protest programmes will be held by the society to get its demands fulfilled. — HNS

IMEFIL in Chabahil

KATHMANDU: IME Financial Institution Ltd (IMEFIL) opened its 10th branch at Chabahil on Monday targeting the eastern portion of Kathmandu district. IMEFIL is a popular name in Nepali remittance industry since the last four years. The financial institution has a deposit base of Rs 1.82 billion from 26,000 depositors. IMEFIL distributed 25 per cent bonus shares last fiscal year. — HNS