Private banks expanding their services

JHAPA: The number of private banks opening their branches is increasing in Jhapa. Some 18 private banks’ branches are in operation alone in Anarmani, a developing town in the district.

These banks, which were limited only to collecting deposit and giving loans until some years ago, have expanded their services.

They have started providing cost-free account facility and collateral-free loan in rural areas. NCC Bank, Birtamod branch, guarantees medical insurance up to Rs 10,000 and accident insurance up to Rs 500,000 to personal savings account holders, according to branch chief Narayan Prasad Bhattarai.

Similarly, the Birtamod branch of NIC Bank provides free health checkup facility, life insurance cover of Rs 100,000 and accident insurance up to Rs 200,000 to the bank’s life savings account-holders. The bank has an evening counter and operates NIC Education Fund, too, said branch head Shiva Gopal Risal.

Likewise Bank of Asia, Birtamod branch, which has provided internal remittance service free of charge to its customers. According to branch head Arjun Rijal, it has been operating free inter-branch transactions too.

Besides these, the branches of Agricultural Development Bank, Banijya Bank and Nepal Rasta Bank are also in operation in Anarmani.