User:Salmanjee22/sandbox

National Cooperative Bank Limited (NCBL)

NCBLwas established in 2003, as the only bank in the cooperative movement of Nepal at national level, in exercise of the power conferred by the sub-section 4 of section 26 under the then prevailing Cooperative Act, 1992 (first amendment, 2000) and from the recommendation of Nepal Rastra bank (Central bank of Nepal) as an umbrella institution to provide banking and financial services to all its member cooperatives following the long and continuous demand and efforts of cooperators. Assessing the importance of setting up a separate bank to exclusively support the cooperatives in the country, Nepal Government had amended the Cooperative Act, 1992 and released NPR10 million as equity participation in the fiscal year 2000 /2001. It has been successfully carrying out cooperative banking business since thirteen years.

NCBL with about 10,000 member cooperatives covering all 77 districts and with rapidly growing number day by day, has already extended its network in 44 different places.