BUSINESS BRIEFS: Prudential launches new scheme

KATHMANDU, Dec 23: Prudential Finance Company has launched a new scheme -- Prudential High Growth -- promising interest return of 12 percent to this fixed accounts holders. [break]



Issuing a press release, the company said the new scheme has been launched view to deliver high yield to its customers. Apart from the high interest rate, the company also said the clients of this scheme would also enjoy accidental death benefit equal to the deposit amount.



The press release further states that the company has increased its fixed deposit interest rates to 9 to 12.75 percent. The company is operating with paid-up capital of Rs 100 million and unveiled a plan to raise it to Rs 300 million through rights issue at the ratio of 1:2.





ADBL to install Core Banking System



KATHMANDU, Dec 23: Agricultural Development Bank Ltd (ADBL) Wednesday signed an agreement with Worldlink Nepal and TEMENOS Singapore Pvt Ltd for the use of Core Banking System software.



Shyamsingh Pandey, CEO of ADBL; Dilip Agrawal, managing director of Worldlink Nepal; and Raju Daryani, general manager-South and South East Asia of TEMENOS Singapore, signed the agreement on behalf of their respective companies.



Speaking on the occasion, Bijaya Swar, head of IT department, ADBL, said the bank would soon start online banking system in rural parts of the country in the near future.

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