NIDC Development Bank Ltd. (NIDC) was established in July 1959 as the

Nepal Nepal, officially the Federal Democratic Republic of Nepal, is a landlocked country in South Asia. It is mainly situated in the Himalayas, but also includes parts of the Indo-Gangetic Plain. It borders the Tibet Autonomous Region of China Ch ...

Industrial Development Corporation. It serves as an industrial

finance Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ...

organization An organization or organisation (English in the Commonwealth of Nations, Commonwealth English; American and British English spelling differences#-ise, -ize (-isation, -ization), see spelling differences) is an legal entity, entity—such as ...

. NIDC has worked to expand Nepalese industries and services, including

hotel A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a re ...

industrial district Industrial district (ID) is a place where workers and firms, specialised in a main industry and auxiliary industries, live and work. The concept was initially used by Alfred Marshall to describe some aspects of the industrial organisation of nat ...

s, and the

Nepal Stock Exchange The Nepal Stock Exchange (NEPSE) is the only stock exchange of Nepal. the Market Capitalization of the companies listed on NEPSE totaled . NEPSE opened its trading floor on 13 January 1994. The basic objective of NEPSE is to impart free mark ...

. NIDC was registered under the Company Act and operated as a

nation A nation is a type of social organization where a collective Identity (social science), identity, a national identity, has emerged from a combination of shared features across a given population, such as language, history, ethnicity, culture, t ...

al level

development bank Development finance institution (DFI), also known as a Development bank, is a financial institution that provides risk capital for economic development projects on a non-commercial basis. DFIs are often established and owned by governments or ...

, providing services to regular

customer In sales, commerce, and economics, a customer (sometimes known as a Client (business), client, buyer, or purchaser) is the recipient of a Good (economics), good, service (economics), service, product (business), product, or an Intellectual prop ...

s as well, under the

Bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

and

Financial Institution A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial ins ...

s Act. NIDC and

Rastriya Banijya Bank Rastriya Banijya Bank (RBB) (translation: National Commercial Bank; ) is fully government owned, and the largest commercial bank in Nepal. RBB was established on January 23, 1966 (2022 Magh 10 BS) under the RBB Act. RBB provides banking services ...

completed their merger and started joint operations from May 2, 2018 under the name of

References

http://www.nidc.org.np Banks of Nepal Industrial development agencies 1959 establishments in Nepal {{asia-bank-stub