CURRENT AFFAIRS

Detailed explanation-1: -With the successful completion of a merger, Global IME Bank and Bank of Kathmandu (BoK) began unified business on Monday as Global IME Bank.

Detailed explanation-2: -After the merger, the new bank named as Global IME BOK Limited will become Nepal’s largest commercial bank.

Detailed explanation-3: -Merger agreement Janata Bank signed an agreement with Global IME Bank Limited on 20th Asar 2076 according to which the name of bank will remains the same but the core members will be changed.

Detailed explanation-4: -Global IME Bank Ltd. (GIBL) emerged after successful merger of Global Bank Ltd (an “A” class commercial bank), IME Financial Institution (a “C” class finance company) and Lord Buddha Finance Ltd. (a “C” class finance company) in year 2012.

Detailed explanation-5: -Banking partners It is estimated that about 15 per cent of the total remittance received by Nepal is from India. IME India has been into the Indo-Nepal remittance business since 2020 and reaching out to Nepalese migrant population spread across India.