KATHMANDU: Kumari Bank Ltd has received overwhelming response to its debentures, with 1.3 million applications worth Rs 1.30 billion received against 1.2 million units worth Rs 1.20 billion issued by the bank.

The bank has already sold the remaining 1.8 million units of the debentures to institutional investors, as per a media release. Based on the Monitory Policy of Nepal Rastra Bank, Kumari Bank has released bonds worth Rs three billion, which is 25 per cent of its paid-up capital as of December 30.

Meanwhile, as part of its corporate social responsibility, the Dulegauda division of the Bank has distributed two medical beds and one stretcher to Panchamunidev Secondary School in Tanahun on Wednesday.

On the occasion of golden jubilee celebration of the school, Gandaki Province Chief of Kumari Bank, Nabin Raj Poudel handed over the support to the school principal. The school is providing medical services to students by hiring one staff nurse.