Kathmandu. The Seventh Annual General Meeting (AGM) of Jeeban Bikas Laghubitta Bittiya Sanstha has unanimously endorsed a proposal of distributing 14.7368% dividend to its shareholders. The general meeting of the organization held at the central office of the organization at Katahari Rural Municipality-2 of Morang has endorsed the proposal of distributing bonus shares from the profit of the fiscal year 2081/82.
The chairman of the company, Bikram Raj Subedi, had proposed to distribute 14 percent bonus shares and 0.7368 percent cash dividend for tax purposes. The General Assembly has endorsed the proposal
After the bonus share distribution, the paid-up capital of the company has increased. The paid up capital of Jeevan Bikas was Rs 1.53 billion. After the bonus share distribution of Rs 215 million at the rate of 14 percent, the paid-up capital of the company has reached Rs 1.75 billion. Jeevan Bikas Microfinance has been continuously distributing returns to investors. Earlier, the company had distributed 14 percent bonus shares for two consecutive years.
Addressing the inaugural session of the AGM, Yogendra Mandal, founder of Jeeban Bikas and former lawmaker, said that several sides were attacking the banks and financial institutions in a planned manner. “It is a very wrong act to systematically injure banks and microfinance,” Mandal said, adding, “If Nepal becomes poor, it will be easier for foreign powers.” The Gulf and big countries want Nepal to remain poor forever. ’
He stressed the need of cooperation from all sides to strengthen the microfinance sector which remains the backbone of rural economy. Recalling that Jeevan Vikas was established with the objective of mobilizing resources for the upliftment of the poor and indigent people, he said the organization has been running various social campaigns to end unemployment.
Chairman of Jeevan Bikas Laghubitta Bittiya Sanstha, Bikram Raj Subedi, said that Jeevan Bikas has been providing microfinance and social services to the people’s doorsteps even in adverse times. Stating that the employees have worked hard to make the organization strong, he said that the organization is also working under the social responsibility.
Board member Bandana Jain said that life development is not only the delivery of financial services but also a powerful medium for social and economic transformation. She said that the main objective of the development of life is to conduct self-employment campaign by reaching out to the communities deprived of financial access.
Member of Board of Directors of Jeevan Bikas, Gokarna Khatiwada, said that the Jeevan Vikas campaign was effective for poverty alleviation. He said that the development of life is in a good condition and it will be made better. Stating that the problems seen in the organization would be resolved, he said, “Life development is good and it will get better. He said that everyone from the director of the organization to the employees is focused on the development of the organization.
Director of Life Development Prakash Kumar Shrestha said that the microfinance sector should be resolved by resolving the problems. Stating that the organization has achieved good achievements due to the contribution of employees, he expressed the belief that the organization would further progress.
Shyam Chandra Khatiwada, proprietor of the organization, said that the organization would forward its service in an effective manner. Stating that the shareholders of the organization are in a position to distribute profits due to the hard work of the employees, he said that life development has been doing exemplary work in the social sector.
Madhav Prasad Dev, acting president of Community Women Development Center, Sweden, said that Jeevan Bikash was working as per its goal. He said that life development has focused on improving the standard of living of its members. He urged the government to make the campaign of poverty alleviation a success.
Chairman of Jeevan Bikash Samaj, Ribol Devi Mandal, said that the organization was progressing due to the hard work of the employees of Jeevan Bikas. Urging the government to make poverty alleviation campaign effective, she said life development would make further progress.
Rajendra Pradhan of Solve Nepal said that Jeevan Vikas has been running social campaigns effectively. He also stressed the need to unite and counter the activities against microfinance institutions. He said the microfinance institutions were playing a significant role in poverty alleviation in Nepal. He suggested that the services of the organization should be run in an innovative way.
Chairman of the National Cooperatives Bank, Mahendra Kumar Giri, said that Life Development Bank has been providing financial and social services to the doorsteps of its members. According to him, Life Development has done remarkable work in microfinance and social sector amidst the difficulties seen in the microfinance sector. Stating that the institutions should be made more effective, he urged the microfinance financial institutions emerging from the background of non-government organizations to move ahead in a united manner. According to him, the hard work of the employees of the organization has taken the life development forward.
Chief Executive Officer of Jeevan Bikas Sanjay Kumar Mandal said that the organization has been continuously operating the service delivery in an effective manner.
He said that Jeevan Bikash has been continuously running social campaigns along with financial services even when microfinance financial institutions are under attack. “We have been facing problems in the microfinance sector for the past three years,” he said, adding, “Life development has become very strong and strong during this period. Therefore, the microfinance program will move forward in a more robust way in the coming days.
Gokarna Khatiwada and Ashok Sitaula have been elected unopposed as the board members of Jeevan Bikas Laghubitta Bittiya Sanstha Limited.
The seventh annual general meeting of the company held on Tuesday unanimously re-elected Khatiwada and Sitaula to the board of directors for the next four years.
The election committee had announced that they were elected unopposed after a single candidate for both the posts was registered in the election process of the organization. In the past, they have also fulfilled their responsibilities as directors of the organization.
