Gaurishankar Development Bank Limited
Update: The bank started its joint operation with Prabhu Bikash Bank, Zenith Finance Limited and Kist Bank Limited in 2014.
Registered with the Government of Nepal in Company Registrar’s Office as the limited company on 14 July, 2004, Gaurishankar Development Bank Limited is a development bank with ‘B’ class operational facilities. It received its Commence License from Nepal Rastra Bank on 29 November 2004. The bank was established with the vision of offering the customers the quality financial services by utilizing the modern tools and visions to grow up to the National Level Development Bank with the sense of social responsibilities.
The bank was established with the mission of reaching to every nook and corner of the country gradually. The bank has been ploughing the resources both in the rural sectors, towns and cities so that the national as well as financial situation of the bank will prosper and the bank has also managed to provide the facilities like ATM and ABBS to its clients.
The bank with the authorized capital of Rs 400 million, issued capital of Rs 210 million and paid-up capital of Rs 210 million was established by some well experienced enthusiastic entrepreneurs who wanted to start up a development bank in the rural sector of the country with the vision of liberating the local farmers and the upcoming rural businesspersons from usury being practiced by the local moneylenders as well as to help them receive the earnings of the members of the family who have been selling their labor abroad. Seventy percent of the share of the bank lay in the hands on the promoters and the remaining thirty percent on the hands of the people.
The services and the products of the bank includes current account, saving deposits, call deposits and fixed deposits under saving accounts, loan services such as foreign employment, personal, real estate, agriculture, trading/udhyog, overdraft, hire purchase, educational, working capital and microfinance along with other additional services such as ABBS, debit card, ATM services, remittance, e-banking, SMS banking, interbank transaction, safe deposit lockers, etc.
The bank started its joint operation with Prabhu Bikash Bank, Zenith Finance Limited and Kist Bank Limited in 2014. The integrated entity operates as Prabhu Bank Limited.