Agricultural Development Bank And National Sports Council Sign Agreement For Business Cooperation

December 31, 2020 | Investopaper

National Sports Council (NSC) will conduct all its banking transactions through the Agriculture Development Bank. The bank will also provide various banking facilities to the council. NSC has made a significant contribution to the development of sports in the country

An agreement on business cooperation was signed between the two organizations on Tuesday in the presence of NSC member-secretary Ramesh Kumar Silwal and chief executive officer of the Agriculture Development Bank Anil Kumar Upadhyaya. While exchanging ten-year agreements, Member Secretary Silwal said, “Cooperation has brought both the organizations together, the benefits of which naturally go to both.”

Chief Executive Officer of the Bank, Upadhyaya, said that the organization was proud to be directly associated with Nepalese sports. He said, “We have moved forward for cooperation with the objective of contributing to the development and expansion of Nepalese sports.”

Under the ten-year agreement, the bank will provide salary account loan and loans up to Rs 1.5 million without collateral to the employees who have completed five years of permanent service. The bank will give a 50 percent discount on the rate issued for conducting training and seminars while using the infrastructure including training centers of the bank. Similarly, NSC will conduct all banking transactions through the Agriculture Development Bank.

When the council takes the service through the bank, the service fee will be reduced and it will be easier to do integrated transactions. As per the agreement, the bank will provide free electronic payment services to the council and its employees and will spend a certain amount of corporate social responsibility in the sports sector through the council. The bank will print the tickets of any national and international sports competition conducted by the council. ADBL will act as the banking partner of the council for banking transactions.

Chief Executive Officer of the Bank, Upadhyaya, said, “Our bank, which has been involved in sports by including national volleyball players in the organization, has been re-connected with sports.” He further added, “Cooperation can be done not only at the center but also through our branches in the districts and states.”


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