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Rule 5
Provisions related to the formation of cooperative banks
: (1) At least five hundred and one organizations or associations can form a cooperative bank among themselves so that all provinces are represented.
(2) The share capital of a cooperative bank established as per sub-rule (1) shall be as prescribed by Nepal Rastra Bank.
(3) In accordance with sub-rule (1), applying for the formation of a cooperative bank, giving: organizations or associations should fulfill the following conditions:-
(a) The combined share capital of the applicant organization or association should be at least three billion rupees (b) The combined institutional capital of the applicant organization or association should be at least fifty crore rupees and
(c) The applicant organization or association should have been operating at a continuous profit for the past three years. (4) The recommendation of the National Cooperative Federation will also be required when forming a cooperative bank.
(2) The share capital of a cooperative bank established as per sub-rule (1) shall be as prescribed by Nepal Rastra Bank.
(3) In accordance with sub-rule (1), applying for the formation of a cooperative bank, giving: organizations or associations should fulfill the following conditions:-
(a) The combined share capital of the applicant organization or association should be at least three billion rupees (b) The combined institutional capital of the applicant organization or association should be at least fifty crore rupees and
(c) The applicant organization or association should have been operating at a continuous profit for the past three years. (4) The recommendation of the National Cooperative Federation will also be required when forming a cooperative bank.