In this connection, the association´s International Coordination Council (ICC) held a meeting on August 8 to 9 in Lisbon, Portugal, on the sidelines of its European Regional Meeting. During the meeting, the ICC discussed the preparation for the global conference and the proposals for the amendment of NRNA´s Constitution. [break]
According to a press release, ICC also discussed on the issues arising from the recent government decision to promulgate NRN related regulations. “NRNA considers the provision of the NRN Identity (ID) Card included in the regulation a step in right direction,” states the release.
NRNA, however, has stated that the ID card should not be an alternative to the long-standing demand of the NRN community for provision of dual citizenship in Nepal´s constitution.
The association has said that the card ensures limited legal status to Nepalis who have acquired foreign citizenship, but does not fully restore their rights as Nepalis. “We reiterate that for permanent bonding of Nepalis and their offspring settled abroad to the mother country and the benefits to Nepal arising there from, there is no alternative to the constitutional provision of dual citizenship,” notes the release.
United Finance´s profit up by 57pc
KATHMANDU, Aug 21: United Finance has generated a net profit of Rs 40.40 million in the last fiscal year, up 57.08 percent from previous year´s profit.
Likewise, the deposit collection of the finance company grew up by 59.77 percent to Rs 1.26 billion in the same year and it extended Rs 1.64 billion in loans, up 31.6 percent compared with that of the previous fiscal, according to a press statement issued by the finance company on Friday.
"The company plans to extend its network and will offer more consumer oriented services in the current fiscal year," the release added.
Royal Merchant´s profit Rs 23 million
KATHMANDU, Aug 21: Royal Merchant Banking and Finance Limited earned a profit of Rs 23.40 million in the last fiscal year. The finance company collected Rs 1.13 billion in deposits and extended Rs 1.10 billion in loans in during the period.
The finance company is issuing equity shares on rights basis to existing shareholders in the ratio of 1:1, according to a press statement issued by the institution.
Sunrise Bank at Budhanilkantha
KATHMANDU, Aug 21: Sunrise Bank has opened its 22nd branch at Budhanilkantha. The branch was inaugurated jointly by Swami Bodhananda, mathadhish of renowned Budhanilkantha temple, and Tolaram Dugar, chairman of the bank, on Friday, according to a press statement issued by the bank.
"Budhanilkantha, where economic activities are growing, lacks the presence of private commercial banks. This is one of the main reasons why we decided to extend our network there," Kishor Maharjan, CEO of the bank, said.
The bank, which earned Rs 130 million operating profit in the last fiscal year, is planning to open another branch in Rajbiraj of Saptari district. Sunrise bank, which has currently installed 16 automated teller machines, is soon adding 22 more ATMs, the statement added.
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