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Nirdhan Utthan Bank Limited, which means "the bank for upliftment of the poor", is a microfinance bank, established in 1998 under the Company Acts of Nepal. In 1999, the Nepal central bank granted Nirdhan a banking license, and it started formal operations later that year.
Now operating under the Bank and Financial Institutions Act 2006, Nirdhan provides microfinance services such as loans, deposits, micro-insurance and remittance services to disadvantaged families in 22 of the 75 districts of Nepal. Its lending policy follows the self-help group borrower model, as well as the individual lending model pioneered by Grameen Bank in Bangladesh. As of July 2009, Nirdhan Bank had over 115,000 active loan clients with outstanding loans of Nepal Rupees 1.118 billion (approximately AUD 17 million).
Nirdhan Bank’s vision is to be a bank with a social conscience that helps reduce poverty in Nepal by enabling the poor to contribute equally to a prosperous, self-reliant rural society through self-employment and social awareness.
The goals of Nirdhan Bank are to:
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Use proven delivery mechanisms to reach as many as possible poor households who are or have the potential to be financially viable
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Develop a well-managed institution with high staff morale
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Enhance women's self-respect through greater social awareness, and by proper use of loans, regular savings and related micro-finance services.
In partnering with Good Return, Nirdhan Bank is expanding its outreach to the poorest clients in Nepal.
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