The objective of this financial institution is to become a partner in youth-targeted self-employment programs by utilizing internal sources and means through the financial support of this institution.
Swastik Microfinance Financial Institution Ltd., promoted by local personalities of Madhesh Province, has been licensed by Nepal Rastra Bank as a “Class D” (provincial level) financial institution and has been providing financial services since March 25, 2019 (Chaitra 12, 2075 B.S.). The objective of this financial institution is to collect small savings from its members through the microfinance program, to provide loans for business operations or capital growth, to offer financial support to the families of customer members in times of natural crisis, to conduct financial literacy programs in society, and to run income-generating training programs in order to help society move towards self-employment.
The authorized capital of this financial institution is Rs. 5 crore 77 lakh 50 thousand, of which the issued capital is Rs. 3 crore 46 lakh 50 thousand. Out of the issued capital, Rs. 3 crore 46 lakh 50 thousand has already been paid up by the founding shareholders, while Rs. 2 crore 31 lakh will be collected from shares to be issued to the general public.
Through the microfinance program, along with financial transactions, this financial institution has a plan to support the creation of self-employment in society by conducting social programs such as financial literacy, income-generating training, and providing necessary assistance for productive management.
The objective of this financial institution is to become a partner in youth-targeted self-employment programs by utilizing internal sources and means through the financial support of this institution.
Dhirendra Lal Karn
CEO
Namaskar, Swastik Microfinance Financial Institution Ltd., promoted by local personalities of Madhesh Province, has been licensed by Nepal Rastra Bank as a “Class D” (provincial level) financial institution and has been providing financial services since Chaitra 12, 2075 B.S. (March 25, 2019). The objective of this financial institution is to provide financial services through the microfinance program to the people of this province, to safeguard savings, and to encourage youths who wish to engage in business within their own country to become self-employed through collateral or collateral-free loans, thereby assisting in the path of economic prosperity and contributing to the development of social prestige.
Through the sole effort of this financial institution, customer members alone cannot achieve economic prosperity; therefore, for this, member families themselves must also understand their responsibility, make full and proper use of the loan, increase their income, reduce unnecessary expenses, maintain honesty, and repay loan installments on time, thereby fulfilling their obligations. We kindly request all customer members to do so.
At the same time, we express our heartfelt gratitude to all the respected shareholders who established this financial institution and created employment opportunities, to all the customer members who have chosen this financial institution for their financial transactions, to the employee colleagues who have dedicated more time to the institution’s services than to their own families, to the regulatory bodies who have inspected the institution’s transactions from time to time and provided valuable suggestions, to the Board of Directors who have taken guardianship in making the institution’s services more effective, and to all the well-wishers who have directly and indirectly provided support, cooperation, and affection to this financial institution. We also look forward to your continued suggestions and cooperation for the success of this financial institution in the coming days.
“Swastik Microfinance for the Creation of Self-Employment”