Micro Finance is regarded as the best available tool for poverty alleviation through financial services to the low income group and is a mechanism of social intermediation. It focuses on providing employment to poor and disadvantageous group of the society. It is emerged as an important financial intermediation of formal, semi-informal and informal sector. Thus micro-finance has been considered as banking with development tools.
Wean Nepal Laghubitta Bittiya Sanstha Ltd (WNLBSL) is incorporated as a public limited company registration no. 117446/070/71 on 2070/08/16 B.S. at Company Registrar Office of Government of Nepal under Company Act 2063. The company is “D” Class Financial Institution (Micro Credit Development Bank) licensed no NRB “Gha” 38/071/72 on 2071/04/21 by Nepal Rastra Bank (NRB) under the Bank and Financial Institution Act 2063. The Bittiya Sanstah has commenced its financial transaction from 2071/08/08 B.S. It is providing micro-financial services to the low income & underprivileged peoples of remote village development committees of Sindhupalchowk, Rasuwa and Nuwakot district.
The Vision of the Financial Institution is poverty alleviation of rural community through economic development enhancing standard of living of people.
To encourage saving to skill oriented productive programs uplifting the income level of the deprived sector.
The main objective of the financial institution is providing institutional credit for general public lacking formal banking facility for saying “Friend for Financial Success” in the rural areas of the district with the intention to encourage and help rural community to attain sustainable growth in the financial activities for the mobilization of domestic resources that they venture to undertake.
Basically Women, underprivileged, Poor Farmers and Underdeveloped people are customer in group based financial services of the Organization. They are under the defined as organization target groups/members. Those targeting group/member is basically based on land holding pattern, socio-economic & other culture phenomena. The selection criteria are based on organization rules.
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