March 18, 2021 | Investopaper
Citizen Investment Trust (CIT) has earned Rs 32.25 crores until the Poush end of the current fiscal year 2077/78. This is an increase of 8.54 percent compared to the corresponding period of the previous fiscal year.
CIT has invested Rs. 163.21 Arba until the first six months of the current fiscal year. In the same period, the net reserves of the fund stood at Rs. 164.88 Arba. During the same period, it has invested Rs. 101.66 Arba in term deposits, Rs. 1.05 Arba in Government bonds, Rs. 12.83 Arba in equity holdings of various companies and 27.93 Arba in housing loans and borrowings.
The authorized capital of CIT is Rs. 8 Arba, issued capital is Rs. 8 Arba and paid up capital is Rs. 3 billion.
CIT is owned by 10 percent of the government, 13.34 percent of Nepal Rastra Bank, 10 percent of Nepal Stock Exchange, 31.55 percent of Rastriya Beema Sansthan, 15.11 percent of banks and financial institutions and 20 percent of the general public.
CIT was established with the objective of increasing the investment opportunities by encouraging the general public to save capital and bringing dynamism in the development of capital market. It is operating and managing the retirement fund and building national capital by encouraging the general public to save.
The fund has launched Employee Savings Enhancement Retirement Fund Scheme, Housing Loan, Investor Accounts Scheme, Subsidy Scheme, Citizen Unit Scheme, Term Life Insurance Program for National Servants and Citizen Pension Scheme.