Nepal Welcomes Foreign Joint-Venture Investment

In an interesting statement made by a top Central Bank official, Nepal opens up to welcome foreign capital, technology as well as human resources from foreign joint-venture banks.

Nepal Rastra Bank Deputy Governor Chintamani Siwakoti says that the Central Bank raises ‘no’ objection if foreign capital is brought for investment to Nepal.

“The government is planning to open a bank account for every citizen of the nation and we expect that the banks also play an active role to materialize that plan,” says Siwakoti, addressing the 25^th Anniversary program of the ‘establishment of the Nepal State Bank of India (SBI)’.

Speaking of Nepal SBI’s role over the years, Indian Embassy Deputy Chief of Mission Ajay Kumar says that Nepal SBI bank has been playing a crucial role in enhancing people-to-people bond between both countries.

Background:
Nepal SBI Bank Ltd. is a joint venture promoted by State Bank of India and Employee Provident Fund (EPF) and is operating through about 80 business outlets across Nepal including Biratnagar, Nepalgunj and Kathmandu.