On the occasion of the golden jubilee, the largest bank of the country announced a number of measures to increase financial inclusion and expand credit to the deprived and agriculture sectors.

CEO Krishna Prasad Sharma said the state-owned bank would take ahead mobile banking and lending to agriculture and deprived sectors in the form of a campaign. “Agriculture loans to youths—under the government’s programme—will be made available at just 5 percent,” said Sharma.

The interest rate offered by RBB is lower than the 6 percent rate announced by the government.

Sharma said borrowers of the deprived sector lending will be covered with accidental insurance of up to Rs 200,000. The lender also announced providing higher interest rates on deposits for women aged above 70 years and single women.

With the bank turning healthy in terms of capital, it has now focused on expanding credit and expansion of its presence across the country. It plans to restore its branches displaced during the conflict.

The bank recently fulfilled the capital adequacy ratio requirement after going through a decade-long financial sector reform programme.

“The bank should now focus on increasing lending to the productive sector,” said Nepal Rastra Bank Deputy Governor Maha Prasad Adhikari.

Chief Secretary Lilamani Poudel stressed the RBB has more social responsibility for being a stated-owned bank. “Its presence in rural areas has given it an edge against other private sector banks,” he said.

Finance Minister Ram Sharan Mahat said the bank has adequate liquidity to expand its credit and it is the chance for the bank to show its leadership and capability.

The bank has Rs 103 billion in deposits, while lending stands at Rs 65 billion.