Finance Companies in Nepal are also playing vital roles in the development of the economic status of Nepal. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); Copyright 2020 - 2023 Top Nepali | All Rights Reserved! Overview of finance companies in Nepal.Journal of Finance and Management Review, 2(2): 241-251, Kathmandu, Nepal. It is the leading Finance which has some of the most advanced and technically developed deposit schemes with various account types, which has been very popular for many years and was enthusiastically adopted in the market. Million Authorized Capital: 15, Issued Capital: 10, Paid Up Capital: 10, Promoters' Contribution 69% Public Contribution 31% Sources: Official Website of Nepal Investment Bank Ltd . Paid-up capital is created when a company sells its shares on the primary. It started operations in the 18th Mangshir 2066 as the 84th Nepal Finance Company under Law 2063 of the Bank and Financial Institution (BAFIA). The office is located in Putalisadak, Kathmandu. Definition, How It Works, and Types, Additional Paid-in Capital: What It Is, Formula and Examples, Stock Dividend: What It Is and How It Works, With Example, Paid-In Capital: Examples, Calculation, and Excess of Par Value, Equity Financing: What It Is, How It Works, Pros and Cons, Authorized Share Capital: Definition, Example, and Types. With the vision of providing the best financial services for success, Goodwill Finance Limited started its operation as a financial institution under the license of the Nepal Rastra Bank in 1995. The citys express finance company limited is a C class national level finance company. PUC is the precise amount a shareholder pays for his or her shares. With an increase of 54.26 points today, the Nepse 20%. 6 millions. 1) The paid up capital of a public company shall be a minimum of ten million rupees, except as otherwise provided in the prevailing law or in a notification by the Government of Nepal in the Nepal Gazette that the paid up capital of any particular company shall be in excess of the said required minimum. Janautthan Samudayik Laghubitta Bittiya Sanstha Ltd. 19 District Level (Kailali, Kanchanpur, Banke, Bardiya, Dang, Kapilvastu, Rupandehi, Nawalparasi East, Nawalparasi West, Chitwan, Parsa, Surkhet, Dadeldhura, Gulmi,Palpa, Tanahu, Arghakhachi, Pyuthan, Salyan), Mahila Sahayatra Laghubitta Bittiya Sanstha. Five class A financial institutions may be affected by the directive. Ghodighoda Laghubitta Bittiya Sanstha Ltd. 4-10 District Level (Kailali,Kanchanpur,Banke,Bardiya,Da ng,Surkhet,Doti,Dadeldhura,Baitadi,Da rchula). It offers fixed and savings deposits, debit cards, loans, remittance services and lockers. Janaki Finance Company Limited (JFCL) provides NCHL IPS services for all branches. 8,000,000,000.00 as paid up capital. As the Trend setter in the market, Nepal finance limited has started to innovate some of the first products launched in Nepal, such as the rental purchase, Margin Lending, which became very famous later and has been synonymous in the market today. Nepal Oil Corporation has increased aviation fuel by Rs 19, as a result air fare (surcharge) has risen by upto Rs 1,020. The finance company has three branches in Sabahagriha Chowk Pokhara, Sundhara Kathmandu and Bhimkali Patan Pokhara. The products and services provided by the pokhara finance limited are Fixed Deposit, Bal Bachat,, Karmachari Bachat, Sainik Bachat, Byapari Bachat, Sunaulo Bachat Gorkha Bachat, Nari Bachat, Jeshtha Nagarik Bachat, NPR 5 Bachat / Share Bachat, Sadharan Bachat, Sharedhani Saving, Bachat financial and institutional institution under its savings and deposit schemes and Rent purchase loan, Personal home loan, Personal loan / Mortgage loan / Home loan, Commercial loan / working capital, Term loan (Business, Industrial , Education, Health, Tourism, Hydroelectricity, Social, Agriculture, Employment Abroad and Loan of Shares), Real Estate Loan, Private Sector Loan, Loan against POFIL fixed deposit and Consortium Loan under its loan and advance schemes. Allow them to carry out micro-business activities from where they can lift their financial condition. The bank has been providing banking through its branch offices in different geographical locations of the country. Progressive Finance Limited is a corporation registered at 14th Ashwin, 2051 under the Companies Act, 2021 BS. It has been providing excellent service to its valued customer for 23 years. What Is Share Capital? There are 79 finance companies licensed by NRB in Nepal. Through its head office and two branches, the company has been providing products and services such as Demand Deposit, Investor Savings, Normal Savings, Plus Savings, Balloon Savings, Fixed Deposits, Structured Fixed Deposit, Special Fixed Deposit, Children saving, Nari saving, Student Saving and Mahotsav Saving under their savings and deposit schemes and Home Loan, Home Equity Loan, Loan Against Share, Auto / Hire Purchase Loan, Personal and Family Loan, Educational Loan, Term Loan and Business Loan under of their loan schemes. The NRB will instruct such BFIs to go for merger or seek an acquirer, reads the NRB circular. Paid up Capital(Rs.' 00 in thousands) 1: Nepal Industrial Development Corporation: 1959/06/15: Durbar Marg, Kathmandu: 4158. The below table displays the list of microfinance in Nepal till April 2020. However, the Singaporean Dollar is preferred. Paid up Capital Working Area 1 Nepal Finance Ltd. 1993/01/06 Kamaladi, Kathmandu 13.58 National Level . 2.5 billion. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. The company is committed to customer deposit security, confidentiality, professionalism, transparency, good governance, and solid business growth. As foreseen by the declared mission, Central Finance Limited [CFL] has been actively participating to meet the demand for short, medium and long-term financing for the industrial, commercial, agricultural, services, tourism and infrastructure sectors and other services to the offer various banking services. They have excelled in their business/career field with very good integrity and social standing. Life Insurance. bitcoin trading in uae? Now the company has been able to increase the paid-in capital amounted to Rs. All Companies Uttar Pradesh Finance . Step 4. is a 32 years 7 months old, private Indian Company, registered at Kolkata with a paid-up capital of Rs.200000.. Find details of its financials, directors, legal cases and charges. $10 million divided by 1 million shares is paid-up capital (or 10 cents per share). Nepal Share Markets & Finance Ltd. offers banking services in Nepal. The companys shares are listed on the Nepal Stock Exchange Limited (NEPSE). She has performed editing and fact-checking work for several leading finance publications, including The Motley Fool and Passport to Wall Street. The loan provided are Commercial loan, personal loan, mortgage loan, mortgage loan, recurring loan, purchase loan, health loan, loan against shares, loan for foreign employees, educational loan, term loan, agricultural loan, Bipanna Barga loan, FD loan. It is a limited company established under the Financial Companies Act 2042, in 2051 BS. Other branches are located in Narayanghad (Chitwan), New Road (Kathmandu), Butwal, Dhangadi, Itahari, Biratnagar, Nepalgunj, Dharan, Pokhara, Birgunj. Names Operation Date (A.D.) Head Office Paid up Capital (Rs. Janaki Finance Company has been awarded a high income tax paid in the Janakpur area. Paid Up Capital: 52 Weeks High/Low: 408/219: EPS TTM: 0.40 (Book Close Adjusted) EPS Reported: 1.03: PE Ratio TTM: 807.85 : PB Ratio: 2.91 : ROE . Buddha Jyoti Laghubitta Bittiya Sanstha Ltd. 4-10 District Level(Palpa, Arghakhanchi, Gulmi,Baglung, Rupundehi, Nawalparasi, Kapilbastu, Mustang, Myagdi,Rukum ), 1-3 District Level (Sarlahi, Mahottari, Dhanusha), 4-10 District (Kathmandu, Dhading, Gorakha, Lamjung, Tanaun, Bara, Parsa, Chitawan, Nawalparasi and Rupendehi). Verify PayPal account in UAE with quickest and easiest way. 5 billion and the paid-up capital of the non-life insurance company has been increased to Rs. There are 64 finance companies as of October 2022. It has started with its registered office in Durbarmarga, Kathmandu. It has been providing excellent services to its valued clients for 24 years. It provides the services such as fixed deposit, savings deposit, and various loans such as rental purchase loans, home loans, real estate loans, personal loans, business loans, industrial loans, educational loans, foreign employment loans, loans for stocks, loans for private sectors, Bipanna Barga Thok Karja, Productive sector, Wholesale loan, Business service loan, Miscellaneous loan. Now, finance companies are 44 in numbers. Finance Companies in Nepal: Finance Companies are licensed by Nepal Rastra Bank in Class C. 12. is a 37 years 8 months old, private Indian Company, registered at Guwahati with a paid-up capital of Rs.3422850.. Find details of its financials, directors, legal cases and charges. All the detail of Finance companies in Nepal on the basis of name, year established head offices, paid-up capital are given below: Financial institutions are companies that provide financial services and advice to their clients. The Development Banks (B-Class) have to maintain the following minimum paid-up capital depending upon the level of operation.Types of Banks or Financial InstitutionOperation LevelClassMinimum paid-up Capital (NPR)2. However, if that company intends to increase its paid-up capital up to RM250,000, the company needs . WMBFLs paid-in capital is 181,920,000. Some microfinance companies are limited in one district, some are few districts and some have a national level of operation. 2019. 30%. Nepal Finance Limited (NEFINSCO) has offered various products and services to its valued customer such as Sadharan Bachat, Jestha Nagarik Bachat, Karmachari Bachat, Share Dhani Bachat, Nari Bachat, Bal Bachat, Teachers Bachat, Doctors Bachat, Premium Bachat, High Yeild Bachat , Demand Deposit, Premium Demand Deposit, High Yeild Demand Deposit, High Yeild Demand Deposit under your savings schemes, Commercial capital loan, Fixed asset loan, Home loan, Rent purchase, Consortium loan, Margin loan, Guarantee Bank, Import / Export Loan, Project Financing, invoice discount facilities under suppliers Credit under its loan schemes and fixed accounts for three months, six months, nine months, one year and two to five years respectively with various rates of high and attractive interest. David has helped thousands of clients improve their accounting and financial systems, create budgets, and minimize their taxes. How Do Share Capital and Paid-Up Capital Differ? December. Only "A" Class financial institutions, licensed by Nepal Rastra Bank under the Bank and Financial Institution Act-2063 are subject to this new capital adequacy framework. Let us assume this to be $1. The Board of Directors meeting held today said that increasing the paid-up capital will increase the overall net worth, increase the risk-bearing capacity of the company and create a conducive environment for the company to merge with each other. Out of the 22 finance, Nepal Rastra Bank has declared three as the problematic financial institutions. The central bank has said that it will take action after the final (external) audit report of the BFIs is published. Now the A-class commercial banks also operate the microfinance services, because, central bank requires that some portion of their capital should go to the deprived communities. 600.41 million. There are 59 National and (6)six 1-3 district type Finance companies.. As per th NRB rules the paid up capital requirement for these development banks are respectively. Rs.1,00,000- Rs.5,00,000. Shareholding pattern Particulars Amount in Rs. As per the NRB circular, any BFI that has not met the paid-up capital requirement will be debarred from distributing cash bonus or bonus shares; collecting deposits; issuing loans and expanding its branch network. Its head office is located at Bhanu Chowk-2, Janakpardhan. Attractive interest rates are offered with different savings schemes. The company always focuses on building an internal system powered by sound technology to meet changing customer needs that enhance high comfort and value. "A" Class Commercial Banks 2. ICFC Finance Limited, registered in 2003 under the Companies Act 2053 and the Banking and Finance Ordinance, 2060 began operations from July 17, 2004. Other branches are located in Biratnagar, Bhairahwa, Taulihawa, odari (Kapilbastu), Rajahar, Danda, Harkapur (Nawalparasi), Salyan, Rukum, Budanilakantha (Kathmandu), Imadol (Lalitpur), Chabahil (Kathmandu). Capital Merchant Banking & Finance Co. Ltd. 2002/02/01: Battisputali, Kathmandu: 9351: 45: In Association with Lions Club International District 325 B2 Organized Free Eye Check Up and Cataract Operation Program. For example, a company may issue 1 shares with 50p payable immediately upon application by intending shareholders, a further 25p upon allotment of shares to shareholders and the final 25p three months later. Swabhiman Laghubitta Bittiya Sanstha Ltd. 4-10 Dostroct Level ( Rupendehi, Gulmi, Rolpa, Salyan, Syangja, Palpa, Arghakhachi, Nawalparasi, Kabilbastu, Pyuthan), 4-10 District Level (Kaski, Baglung, Myagdi, Lamjung, Tanahu, Nawalparasi, Parbat, Gulmi, Arghakhachi, Gorkha). With the corporate office based in Hattisar, Kamalpokhari, Kathmandu, they are known for their financial stability and excellent customer services. Capital refers to financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the tangible machinery and production equipment used in environments such as . Samudayik Laghubitta Bitiya Sanstha Ltd. 4-10 District Level (Sindhupalchowk, Kavrepalanchowk, Dolakha, Ramechhap, Solukhumbu,Okhaldhunga, Nuwakot, Khotang, Bhojpur, Sankhuasabha). Paid-up capital represents money that is not borrowed. Multipurpose Finance Company Limited (MPFL) is a district C-class finance company operating in the Saptari district of eastern Nepal. In the even year, Nepal Finance and Savings Company Limited were established from the private sector. The branches are located in Pokhara, Butwal, Kathmandu, Birgunj, Nepalgunj, Itahari and Jhapa. It offers services such as Home saving, Saving Griha Laxmi, Senior citizen shaving, shareholder Savings, Child Savings, General Savings, Sadharan Bachat, Super Savings, NRN Savings, Call Deposit, Recurring Savings, Personal Savings / Talab Bachat Khata, Fixed Deposit. It offers Nari Bachat, Jestha Nagarik, Bal Bachat, Gurkha pension. The total is listed in the company's balance sheet. 50%. Support Microfinance Bittiya Sanstha Ltd. 4-10 Distrit Level (Sunsari, Terathum, Dhankuta, Panchthar, Bhojpur, Udayapur, Khotang, Sindhuli, Ramechhap, Makwanpur), 10+5 District Level(Sindhupalchok, Nuwakot, Dolakha, Ramechhap, Sindhuli, Okhaldhunga, Khotang, Bhojpur, Terathum, Dhankuta, Kavrepalachok, Dhading, Gorkha, Tanahu, Kaski), 10+5 District Level(Nawalparasi,Rupandehi,Kapilva stu,Gulmi,Arghakhachi,Palpa,Rolpa,Da ng,Salyan,E.Rukum,W.Rukum,Jajarkot. 2.5 Billion), some companies are . Central Finance Limited (CFL), was incorporated as a corporation, on April 14, 1996. Issuing a circular today, the central regulatory and monetary authority has said it will take action against the BFIs who have not abided by the central banks instruction and force them to either go for merger or be acquired by other financial institutions. Janaki Finance Company Limited was established in 2052 B.S. If a company has authorised capital of RM100,000, then company can only increase its paid-up capital up to the maximum of RM100,000 at any time. Now the company has been able to increase the paid-in capital amounted to Rs. It mobilizes its sources in the form of fixed, savings, and other short-term deposits at competitive interest rates. Finance company operating at National level and regional level require paid up capital base of NRs. The list of B class development banks in Nepal is presented below: Get $100 Credit on DigitalOcean Cloud Hosting. shukran card sign upaccess your account access your account login official portal sign in information official portal sign in information.html - airporten.com. The Bank and Financial Institution Act, 2073 classifies Banks and Financial Institutions into A, B, C, and D classes. Out of those 15, three have successfully met the capital requirement and have a paid-up capital more than 1 arba. The company has its branches in Dharmapath (New Road), Pokhara (Kaski), Narayangarh (Chitwan), Besisahar (Lamjung), Janagal (Kavre), Arughat (Gorkha), Charali (Jhapa), Imadol (Lalitpur), Gorkha Bazaar ( Gorkha) and Manigram (Rupandehi). But, in the fiscal year, the company changed its authorized capital to NPR 500 million and issued capital to NPR 225 million in order to meet the capital requirement set by insurance board. Obtain a loan from the Nepal central bank or from any foreign organization. It is mentioned that the paid-up capital should be maintained by April next year and the company which is not able to reach the required capital within that time period should maintain the capital in accordance with the 'Directive on Merger, Merger, and Acquisition of Insurers, 2076'. 100 million respectively. The company has brought various attractive products and services under its deposit and loan scheme, such as fixed deposits, normal savings account, United Flexi Saving, new special deposit, Anubhani Jeeban Mudhati Khata, Anubabhi Jeevan Bachat, Naba Nari Bachat Khata, Komal Jeevan Bachat Khata and Revised Deposit Rates under the Deposit Accounts and Home Loans, Home Equity, SMEs, Contract Purchase, Stock Loan and Revised Loan Rate under the loan schemes. It also records the corresponding equity on the balance sheet. (minus capital gains tax). Paid Up Capital: 52 Weeks High/Low: 475/293.1: EPS TTM: 4.43 (Book Close Adjusted) EPS Reported: 2.34: PE Ratio TTM: 72.96 : PB Ratio: 2.37 : ROE TTM: 3.17 %: Book Value . Its cooperative branch is in Tinkune, Kathmandu. Likewise, Crystal Finance, one of the problematic finance, has the lowest capital of Rs 7 crores. Later, with the reissue of 59.01,000 right shares in the ratio of 1: 2.81, as of now they have reached the total paid-in capital of Rs. The company can also comply with the rules and regulations of regulatory bodies. The products and services offered by Lalitpur Finance Limited include Term Deposit, Savings Deposit, Super Savings Deposit, Bal Bachat Deposit and Mahila Khutruke Deposit under its deposit scheme and Home Financing and Real Estate Loan, Asset Financing, Finance Personal and Term Financing, Term Loan and Industrial Loan, Consumer Loan, Private Sector Loan and Loan Against Shares under their loan schemes. The financial laws of the government authority generally regulated the financial institutions. Additional paid-in capital is the excess amount paid by an investor above the par value price of a stock during an initial public offering (IPO). Global IME Laghubitta Bittiya Sanstha Ltd. 10+5 District Level (Saptari, Siraha, Udayapur, Khotang, Sunsari, Bhojpur, Okhaldhunga, Sindhuli, Dhankuta, Ramechhap,Terhathum,Sankhuwasab ha,Solukhumbu,Sarlahi,Mahottari). 80%. As its name suggests, paid-up capital is the total amount of capital that has been paid in full by shareholders or owners in a company. Today, the company has an authorized share capital of 1 Arba, the issued capital is 81 Crore and the paid-in capital is 81 Crore. The balance statement also lists the company's indebtedness. According to the directive published by Nepal Rastra Bank, the following is the detail of the minimum capital required for Commercial Bank, Development Bank, Finance Companies, and Micro Finance Financial Institutions. Reliance finance limited offers services such as the Connect-IPS system, ABBS, debit card, remittances, electronic check clearing, C-ASBA, interbank payment system, SMS banking and SCT MoCo service. Crystal Financial Services Pvt Ltd is primarily in the Finance business for the past 26 years and currently, the companys operations are on strike. In 2002, Nepalese Investors bought all shares of French Company that amounted to 50%, and accordingly name was also changed to Nepal Investment Bank. Sworojagar Laghubitta Bittiya Sanstha Ltd. First Microfinance Laghubitta Bittiya Sanstha, 4-10 District Level (Jhapa, Morang, Ilam,Panchthar,Taplejung,Terhathum, Dhankuta,Sunsari,Saptari,Udayapur), 25 District (Rasuwa, Nuwakot, Dhading, Dolkha, Gulmi, Kavrepalanchowk, Makawanpur, Chitwan, Nawalparasi, Palpa, Rukum, Rolpa, Salyan, Arghakhachi, Pyuthan, Solukhumbhu, Okhaldhunga, Khotang,Sindhuli, Surkhet, Bara, Parsa, Rupendehi, Banke, Kailali). Funding for paid-up capital is arrived at from two sources: the par value of stock and excess capital. Names: Operation Date (A.D.) Head Office: . Paid-Up-Capital or PUC is a concept under the federal Income Tax Act (ITA). 2) Notwithstanding anything contained in . IPS (Interbank Payment System) helps you make funds transfers to and from Janaki Finance Company Limited (JFCL) to any member bank of Nepal Clearing House Limited (NCHL). privately borrow money in UAE - Gulftips. Furthermore, the network is online and gives you access to your account from any of the Banks branches. How To Avoid The Mistakes When Opening A Demat Account? Welcome to Peoples Investment Company For the rapid economic development of Nepal, there is need to increase investment. Companies seek equity financing from investors to finance short or long-term needs by selling an ownership stake in the form of shares. The insitutio also provide loan facilities to the clients. The company were promoted by renowned entrepreneurs, industrialists and professionals with high experience and qualifications in their respective fields. Paid-Up Capital means the actual amount of funds/capital injected into a company by the Shareholder (s), usually in exchange for shares in the Company. The Ultimate Reasons Why Working Moms Are Vulnerable to Stress and How to Overcome It, 8 YouTube Channels for Pets to Watch When Youre Not Home, Things That You Must Know About Nexcess Managed WordPress, Wishes, Messages, Travel, Lifestyle, Tips in English, Hindi and Nepali. Send notice to all member for calling general meeting and approve the same by passing members resolution. After separation, the company started with an authorized capital of NPR 150 million and the issued and paid-up capital was NPR 100 million. Nepal has many nationalized and private finance companies. The insitution offer different savings schemes to choose from. Get details such as Company Name, Incorporation Year, Paid Up Capital & more . Banks and financial institutions that have failed to meet the paid-up capital requirement of the Nepal Rastra Bank (NRB) will be forced to merge or seek an acquirer. The head office is at Best Finance Company Ltd., Kamaladi, Kathmandu -1. The head office is in Pulchowk, Harihar Bhawan, Lalitpur. 80,01,00,000 on date 15 of Baishakh 2076. The concept of microfinance in Nepal is to provide financial services, including micro-credit, micro-savings to poor and disadvantaged communities. carry out such other functions as prescription of the Rastra. Some banking services have remittances, SCT UPI debit card, commercial banking, SMS banking, installation of lockers, payment of utility bills, Sct MoCo, MBanking, discount stores, etc. It includes both par value and the excess of par that was. Typically, the amount of authorized capital a company applies for is much higher than its current need. How to register shukran card online easily? Paid-up capital can be given in any internationally accepted legal currency. It offers loans such as education loans, home loans, personal loans, commercial loans, installment loans, agricultural loans, Mrgin loans, real estate loans, loans against FDR, loans against gold, loans for obsolete sectors, margin loans, working capital / OD loans. Legal Support by Quotes. If you are our client and have a fixed deposit here in the company, you are entitled to the loan against the fixed deposit service. It began its operations from April 14, 1997 upon obtaining the operating license of the Nepal Rastra Bank. As Nepal has adopted liberal, open market economic development policy, the role of private sectors has increased significantly. Almost everyone deals with a financial institution on a regular basis. Samriddhi Finance Company Limited (SFCL) was established as the countrys 49th financial institution in 2057 BS. What is Paid-Up Capital? At any point of time, paid-up capital will be less than or equal to authorised share capital and the Company cannot issue shares beyond the authorised share capital of the Company. The name was changed to the new Best Finance Company Ltd. in order to address changes in the company to operate smoothly and efficiently in a new environment. Financial companies in Nepal are licensed by Nepal Rasta Bank in 'Class C'. They have 17 branches outside the Kathmandu Valley. for well-known Purbanchal businesses. Paid-up capital doesn't need to be repaid, which is a major benefit of funding business operations in this manner. As of January 2023, a total of 38 insurance companies are offering Life, Non-Life (General) and Re-insurance services. The company was listed on the Nepal Stock Exchange on September 18, 1998 (2055/06/02). Procedure to increase Paid up share capital of the company. Similarly, national-level finance companies should have paid-up capital of Rs 800 million and finance companies working in one to three districts should have paid-up capital of Rs 400 million. Overview of Finance Companies in Nepal . The company is registered with the Chandigarh Registry Office (Chandigarh). Its extension counters are located in Tinkune (Kathmandu), Lagankhel, Pulchowk (Lalitpur), Thimi (Bhaktapur). personal loan in UAE 3000 salary possible? Explanation. '000 Thosands ) . All Nepal Share Markets & Financial Limited branches are interconnected with each other and their customers can do business from any of the branches, regardless of which bank the account was opened with their Any Branch Banking Services (ABBS) facility. "D" Class Microfinance Companies However, when such amounts are paid, the issue of how much amount should be paid is usually not mentioned. Located in the heart of Kathmandu Pako, Newroad, they started the operations from the 14th Falgun 2052 BS. While corporate banks A, B, C-class financial institutions have not reached the rulers and poor communities. Paid-up capital is the amount paid by investors above the par value of a stock. Pokhara Finance Limited was established in 2053 B.S. Paid up capital ranges for following classes of companies: 1. The main reason behind this initiative is to enable the poor and deprived community to access banking services.
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