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Prez Bhandari urges Indian investors to invest in Nepal

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NEW DELHI — President Bidhya Devi Bhandari, who is currently on a five-day state visit to India, has urged Indian entrepreneurs and investors to invest in Nepal.

Addressing a program organised by Indian External Affairs Ministry in coordination with Federation of Indian Commerce and Industry and Confederation of Indian Industries in the Indian Capital New Delhi, President Bhandari said the development is not possible through the effort of a single country alone and that it needs a collective effort.

Inviting Indians investors to the country, President Bhandari on Tuesday said that after political transformation, Nepal has a favourable environment for business and socio-economic transformation is Nepal’s top priority.

Representatives of India’s big information technology and hydropower companies were present on the occasion.

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“Nepal has undergone political transformation of historic proportion in recent years. Now socio-economic transformation is our topmost priority,” Bhandari said.

President Bhandari also said the presence of Indian investors during the recent Investment Summit held in Nepal shows the importance put by India on Nepal.

“The government is committed to creating a climate conducive to investment. No discrimination is made between Nepali and Indian investors. Numerous similarities make us natural partners,” The President said.

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Economy

Century Commercial Bank begins joint operation

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Centuary Bank joint operation inuguration

KATHMANDU — After acquiring ‘B’ class Alpine Development Bank Limited and ‘C’ class Seti Finance Limited, Century Commercial Bank Limited has started its joint operation from Monday.

Joint operation of the bank was inaugurated by Chiranjibi Nepal, governor of Nepal Rastra Bank (NRB), according to a statement issued by the bank.

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The bank has acquired these two financial institutions to expand its capital to Rs 8 billion. The bank now had 85 branches across the country, which would soon be expanded to 100.

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