Rajesh Upadhyaya takes oath as Chair of Mahalaxmi Bikas Bank

KATHMANDU: Rajesh Upadhyaya, newly elected by the Board of Directors at the 24th Annual General Meeting of Mahalaxmi Bikas Bank Limited, has officially taken the oath of office and secrecy.

Following Section 127 of the Banks and Financial Institutions Act, 2073 (Nepali Calendar), the oath was administered today, 2082/09/23, by Mr. Bam Bahadur Mishra, Deputy Governor of Nepal Rastra Bank.

The oath-taking ceremony was attended by senior officials, including the Executive Directors of the Bank and Financial Institution Regulation Department and the Financial Institution Supervision Department of Nepal Rastra Bank, among others.

At the bank’s AGM held on 2082/09/21, the Board of Directors also proposed and received approval for a dividend distribution of 10.37% to shareholders.