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Banepa becomes city of banks

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News item 16-12-2007

Banepa — known as transportation hub a decade ago — has slowly been changing its identity and getting popular as a city of banks now. Lack of security on the highway and people’s aloofness towards transportation sector have contributed to this change in identity.
Recently, more new banks have come into operations. Two development banks came into operations within just two months. Country Development Bank started its operations from September while Diyalo Development Bank came into operation from November. Two more development banks Public Development Bank and Professional Development Bank have already started their transactions and are waiting for formal inauguration.
President of the Banepali Yatayat P Ltd, Yogendra Nath Karmacharya said that the entrepreneurs in Banepa used to have at least 1,000 vehicles a decade ago. But at present, it is reduced to nearly two hundred vehicles. “In those days, some people even had as many as 100 vehicles,” he informed.
“The vehicles used to provide services throughout the country from east to the west,” Karmacharya claimed, adding that these transport entrepreneurs are also attracted to banking sector, now. “Their interest in banking sector has increased for obvious reasons,” he said. Once upon a time his transport company had also ten vehicles that are now reduced to two only.
Banepa — a small city east of Kathmandu — has the branches of nine ‘A’ class banks, while there are six ‘B’ class banks and an equal number of finance institutions also.
According to the investors, these banks have provided services to the neighbouring districts — Sindhupalchowk, Sindhuli, Ramechhap and Dolakha districts also.
Direct transport link with Terai after the construction of Banepa-Bardibas road, presence of big educational institutions like Kathmandu University and Polytechnic University — that is under construction, and rapid urbanisation — have contributed to Banepa’s change in identity.


Read more about banks in Banepa


Other banking news and articles:

Machhapuchhre bank saving scheme (16-4-2007)
Global Bank deposits (13-4-2007)
Nepal Credit and Commerce Bank raises paid up capital (10-4-2007)

ATM of Everest Bank at APEX college (29-3-2007)
New branch for Everest Bank (9-3-2007)
SMS banking by Rastriya Banijya Bank (8-3-2007)
loans of Agriculture development bank (5-3-2007)

Performance Lumbini Bank (2-3-2007)
Rural Development Bank about to close (26-2-2007)

New board members for Nepal Rastra Bank (24-2-2007)
No passports for bank defaulters (18-2-2007)
Loans for purchasing shares on stock market (17-2-2007)
CEO Nepal bank resigns (17-2-2007)


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