The Kathmandu Badminton Association signed the five-year agreement with Kumari Bank to organise a tournament and run the academy here today.

KBA President Rita Bista and Kumari Bank Deputy CEO Manish Timsina exchanged the memorandum of understanding. According to the five-year agreement, Kumari Bank will provide Rs 1.5 million per year - one million to organise the corporate tournament and Rs 500,000 for the academy.

The KBA is organising the Kumari Bank Kathmandu Team Championship in June.

A total of 16 corporate houses will participate in the championship which features five events - men's singles, women's singles, men's doubles, women's doubles and corporate doubles.

According to KBA Secretary Deepak Thapa, the participating corporate houses will have to sign two players from among the top 16 shuttlers - one each in men's and women's sections - for the tournament.

They will get Rs 20,000 as match and those making it to the final can earn up to Rs 50,000, informed Thapa. The June 3-5 championship carries a cash purse of Rs 800,000.

A version of this article appears in the print on April 2, 2021, of The Himalayan Times.