Multipurpose Finance Company Limited

Overview:

After the adoption of liberal policy in Nepal's financial system from 2040s, the financial system felt the need. The Financial Companies Act was enacted in 2042 BS and came into force in 2042/6/23. The wave of establishment has come. In this context, from 2049 BS to 2055 BS, 44 financial companies have been established in the country. The 43rd finance company is Multipurpose Finance Company Limited.

At present, the company has 17 promoters, 5 directors and 11 officer and assistant level employees. It aims to employ 50 people at the level of indoor and outdoor. So far, the company has been successfully operating to raise the financial level and support self-employment by providing services to thousands of residents. At present, the company has made arrangements to collect loans from the doorstep by investing in soft loans under the headings of periodical, commercial, agricultural, industrial, water resources, personal necessities and hire purchase at fast and cheap and affordable rates. The company, which currently has an authorized capital of Rs 800 million, has managed to make a steady profit despite the current economic downturn. The current issued capital of the organization will be increased to Rs. 400 million.

Objectives of the Institution: The main objective of this financial institution is to collect the dormant and new capital from the doorsteps of the depositors scattered all over the country through its various financial instruments and make the capital active and invest it institutionally.

Other objectives of the institution are as follows:

a) To provide quality and reliable financial intermediation services to the public through healthy competition while protecting and promoting the rights and interests of the depositors of the financial institution,

b) Establishment of productive business in agriculture, industry, services, trade and other business potential. To mobilize the necessary financial resources from internal and external sources for development, expansion and capacity and increase productivity to help in accelerating the development of industrial, commercial and agricultural sectors of the country, 

c) to mobilize the available skills, labor and capital in rural and urban areas. To establish, operate, develop, expand and promote employment-oriented businesses and to provide necessary financial resources, technical and managerial consulting services, training and technology for that purpose and to actively contribute for poverty alleviation.

D) Reducing risk in financial services. liberalization of the financial sector and the country's economy to forge a strong and adhering m ¥ m ¥ strengthen cooperation perspectives,

e) country To help increase the credibility of the general public towards the overall financial system 

Our Services:

1. To collect daily, monthly, quarterly periodical deposits at attractive interest rates as well as deposits through various savings and deposit accounts

. To provide loans at free and cheap rates under various headings such as poor class, agri traders

. Vivadesaka home and sent to different locations in different parts of the country send money to help pay off dinetatha garinehamro

specific services:

1. To provide stable support to educated, hardworking and unemployed youth for proper trade or domestic industry by providing necessary support, potential and market management and to convert fixed and inactive capital into active capital.

2. To make arrangements for low and working capital by supporting the savings. 

3. To give proper advice regarding economic protection.

4. To make necessary contribution for the operation of specific schemes by liaising with the concerned agencies for raising the living standards of the general public living below the poverty line.

Other Financial Services 

1. To provide services as financial and managerial advisor.

2. To provide necessary advice and assistance to the hardworking, hardworking and interested youth to get rid of unemployment and pave the way for employment.

3. Creating new types of financial instruments and bringing them to the public.

Current Deposit Collection Programs

: To bring to the public the creation of attractive, reliable and productive financial instruments with the objective of supporting the saving habit of the common man.

2. In order to save time and inconvenience to the depositors, to collect the deposits by providing door to door service.

3. We will also incur a penalty if the depositor submits proof that the amount deposited in this company will not be disclosed to anyone other than the government.

4. Attractive returns will be paid to us within three days of the maturity of the deposit. 

5. Credibility of Payment The deposit made by the depositor will be paid within three days of maturity. 

6. If the payment of the deposit is delayed due to this company, the company of the day will also bear the compensation interest.

7. In case of any delay or inconvenience in withdrawing the mature amount, a complaint may be lodged with the Chairman of the Board of Directors of the company.

Procedures and regulations related to loan investment:

1. Loans can be applied for 3 months after opening an account with this company if required.

2. When submitting the application, the application has to be submitted in the prescribed format by the company.

3. When the depositor applies for the loan, it is mandatory to mention the account name and the details of the account and the details of the account and the purpose of the loan.

4. When applying for a loan, you have to submit a mortgage on a single-owned house or land that is open to the public.

5. The company will not be registered if the application is not completed.

6. To apply for a loan above Rs. 100,000, it is mandatory to mention the project analysis and 3 year financial projection.

7. If you want to take a loan against the term, you have to submit the application by attaching the term receipt and photograph of your citizenship.

The company has a loan of business policies:

1. The company will issue the loan in the order of the registered loan application. 

2. The company will publish the loan list only on Thursdays of each week.

3. Individuals on the published list must be contacted within office hours on Friday.

4. The rest of the process in this regard will be in accordance with the loan regulations.

Debt Investment Limit

1. The loan limit will be fixed at the rate of Rs. 10,000 per rupee by converting the installment amount to be paid daily to the company based on the depositor's account.

2. Regardless of what is written above, the company will usually only invest a maximum loan of up to Rs. 50,000,000 per person.

3. In case of borrowing more than the above mentioned limit, detailed project analysis has to be submitted to the board of directors of the company showing the necessary reasons. The company will be able to issue loans up to the limit approved by the board of directors.

Debt repayment policies

: Higher purchase, merchant, health and non-residential loans must be repaid in installments.

2. Except Article 1, the interest on the loan must be paid in voluntary monthly and quarterly installments.

3. According to the agreement with the payment company, the payment has to be made in installments. 

3. Compensation will be levied at the prescribed rate per day if the payment is delayed or delayed due to non-payment as per the agreement with the company.

4. You have to be able to repay the entire principal and interest of the loan taken within the term of the loan provided by the company.

5. If the loan is repaid within the period as per Article 4 above, the rate of compensation will be 2 percent per quarter.

6. The final compensation as per the above 4 will be up to 30 percent for a period of up to 1 year.

7. If the loan is not repaid within the time limit as per Article 6 above, the company will at any time auction off its entire loan amount and recover the amount.

Our Investment Programs: 

This organization has conducted twotypes of programs.

1. To buy and sell debentures, savings certificates, non-stocks and debentures of Nepal Bank, savings certificates as well as shares, ventures, savings certificates, etc. of another registered company.

2. Loan Loan Investment Programs for Buying and Selling Shares and Debentures of Recognized Institutions: The company is currently providing loans under the following headings.

Title of loan disbursement:

1.Periodic 

Term Loan (a)Loan: Fixed capital or working capital loan for setting up or operating small scale home industries.

(B) Business loan: Initial or working capital loan given for setting up a business.

(C) Agricultural Production and Agribusiness Loans: Necessary loans for vegetable farming, cash crops, cattle rearing, fisheries, poultry rearing, grain production and related businesses etc.

2. Necessary loan:  For purchase of individual and institutional house, house construction, warehouse construction etc.

3. Loan against maturity receipt: Abalance of your term loan that can be taken up to 80 percent of thedeposit account.

4. Higher Purchase Loans: Loans that can be taken to purchase durable household items such as motorcycles, TV refrigerators, etc.

5. Personal loan