KATHMANDU,Sept 8: Former Deputy Governor of Nepal Rastra Bank (NRB) and founder of micro finance in the country Dr Harihar Dev Panta has passed away on Tuesday. He was 73.
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Nirdhan Utthan Bank limited (NUBL), the bank for upliftment of the poor, is a microfinance bank established in November 1998 as first micro finance company in Nepal.
The Bank has been providing microfinance services such as loans, deposits, micro-insurance and remittance services to poor people.The launch of microfinance program in Nepal resulted from his visit to Grameen Bank in Bangladesh.
After being inspired from the success of Bangladesh's Grameen Bank, he launched the microfinance through an NGO-Nirdhan (people without money) in 1991.
Nirdhan began its microfinance operation in March 1993. Now, the bank has a total of 176 branches in all the 75 districts.
Panta was Chairman of the Board of Directors since January 2007 at Nirdhan Utthan Bank Limited and Chief Executive Officer from 1998 to till date.
He is survived by two sons and a daughter.
