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Our Bureau

Kolkata, Sept. 10 Mr P.K. Gupta, CMD of United Bank of India, and Mr B.K. Shrestha, Chairman of Nepal’s Everest Bank Ltd — a joint venture with Punjab National Bank — signed a Memorandum of Understanding here on Monday for providing banking services to their respective customers, according to a press release issued by United Bank.

Under the agreement, designated branches of United Bank will be able to issue demand drafts to their customers drawn on various branches of Everest Bank. Similarly, the designated branches of Everest Bank will be able to issue demand drafts on designated branches of United Bank.

United Bank has a large Nepalese customer base in eastern and north-eastern regions and the present arrangement will provide them with a safe and efficient remittance facility.

It will also help the personnel of Nepalese origin in the Indian Army and para-military forces, particularly those in the Gurkha Regiment and Assam Rifles, who remit their earnings back homes in Nepal, the press release adds.

United bank, according to the press release, is also in the process of joining the India-Nepal ATM sharing arrangement managed by Everest Bank Ltd.

More Stories on : Alliances & Joint Ventures | Public Sector Banks | Foreign Banks

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