Agreement between RBB and Nepal Oil Corporation
KATHMANDU: NOV. 14 – An agreement has been reached between Rastriya Banijya Bank Limited and Nepal Oil Corporation regarding the operation of salary savings account and disbursement of simple loans to unauthorized professionals.
The agreement was signed by the bank’s chief executive officer Kiran Kumar Shrestha and the corporation’s executive director Nagendra Sah.
After the agreement, the bank has stated that it will provide a simple loan to the employees who have completed a minimum of two years of service in the corporation subject to the recommendation of the corporation up to a maximum of Rs. 1.5 million.
The bank will invest the loan by maintaining a premium pair interest rate of two percent on the base rate. At present, the base rate of the bank is 5.41 percent. As per the agreement, the bank will operate the salary account of the employees of the corporation. It is believed that both sides will benefit from this agreement.
