IDBL to become development bank

KAVRE: Banepa-based Infrastructure Development Bank Limited (IDBL) is planning to work as a national development bank.

Today, it made an agreement with GroMore Merchant Banker to issue right shares worth Rs 48 crore in the ratio of 1:1.5.

IDBL managing proprietor

Dr Indra Raj Humagain

and GroMore Bank’s issue and sales general manager Kabindradhoj Joshi signed

the accord on behalf of their

respective organisations. “After the issue of the right shares, IDBL’s paid-up capital will reach 80 crore rupees and it will work as a national level development bank,” Dr Humagain said.

Meanwhile, IDBL made public its ‘Mission IDBL Plus’ deposit plan on the occasion of Tihar festival. It has its branch offices in Bhairahawa, Narayangarh, Hetauda, Birgunj, Simra, Butwal, Charikot and Tatopani. “We are planning to set up a dozen more branches in future,” Dr Humagain said.