Everest Bank inks MoU with Deposit and Credit Guarantee Fund; to provide safety cushion to loans floated under microbanking and deprived section
April 19, 2023
Everest Bank has inked an agreement with Deposit and Credit Guarantee Fund to provide security coverage to the loans floated in microbanking and economically deprived section.
The MoU was signed between CEO of the bank Mr. Sudesh Khaling and CEO of the fund Mr. Ramesh Ghimire amid a program held on 18th April 2023.
With this agreement, the fund will provide security to the loans floated by the bank in different microbanking and deprived section where Rs 10 lakh will be issued without collateral for individual and group security, Rs 20 lakh with asset collateral, Rs 10 lakh for expat returnees with skills or for members of Dalit community, Rs 3 lakh for earthquake affected family for reconstruction of homes, Rs 10 lakh for national players to begin their business after their retirement, and Rs 15 lakh for women run business.
EBL, a joint venture partner with Punjab National Bank India, presently has Customer Base of over 13 Lacs, one of the highest in the industry. Presently the Bank is rendering professionalized & efficient banking services through its wide domestic network of 124 branches, 7 Provincial Offices, 3 Extension Counters, 160 ATMs, 32 Revenue Collection Counters and also through its widest global network.