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1. Introduction of the Nerude Laghubitta Bikas Bank Ltd.:
Nerude Laghubitta Bikas Bank Ltd. is registered under the "Company Act 2063" with the Company Registrar's office of Nepal as a micro-finance institution in Biratnagar,Morang district. The registered code number of this organization is 989/063/64 dated March 4, 2007 (2063.11.10 Bikram Era). Nerude came into existence in May 23, 2007 (2064.02.09) with the establishment of its central office at Biratnagar in Eastern Region of Nepal. The Nepal Rastra Bank (NRB) has given the license for operating the transactions. The license number is "D" 12/063/64.

Nerude Laghubitta Bikas Bank Ltd., established in 2007 with the objective of uplifting the socio-economic status of rural poor, has initiated micro-financial services and
community development activities to female group members by replicating the basic approach of Grameen Bank Financial System of Bangladesh (GBFS)

NERUDE's is to work as a self-sustained financial institution and serve a maximum number of the rural poor and deprived through delivery of micro-finance services at the grassroots level.

2. Program Services:

Nerude provides both financial and non-financial services to its clients. As one of the non-financial services, Nerude will make necessary attempts the capacity of its clients.

3. Financial Services:

Credit delivery, saving mobilization and livestock insurance scheme falls under the financial services.

Nerude provides following three types of financial services:

- Credit services

- Saving services

- Insurance Services

4. Vision , Mission, Goal & Objective.

Vision of the Nerude Laghubitta Bikas Bank Ltd, Biratnagar:

The Nerude's vision is to make this bank a leading and capable financial institution in microfinance sector to serve the poor people in Nepal for breaking to the

vicious circle of poverty.

Mission of the Nerude Laghubitta Bikas Bank Ltd, Biratnagar:

The Nerude's mission is provide financial services to the poor and deprived people at their door through group approach in sustainable manner.

Objectives of the Nerude Laghubitta Bikas Bank Ltd, Biratnagar:

The general objectives are to facilitate the poor people with:

- Credit for creating opportunities and generating income by mobilizing local resources.

- Micro savings program for creating financial resources and for strengthening the credit transaction capabilities of its clients.

- Extension services in the field of agriculture and small enterprises for modernizing their occupation and making their activities viable and sustainable.

- Opportunities for overall social development together with raising their awareness about the undesirable socio-cultural and blind traditional practices.

Goal of the Nerude Laghubitta Bikas Bank Ltd, Biratnagar:

The goal of Nerude's is to work as a self-sustained financial institution and serve a maximum number of the rural poor and deprived through delivery of micro-finance services at the grassroots level.

5. Operational Area:

Nerude has been implementing Micro finance Program 73 Branches in 26 districts of Nepal, i.e. Sunsari, Morang, Jhapa, Saptari, Udayapur, Siraha, Dhankuta, Sindhuli, Ilam, Mahottari,Sarlahi,Rautahat,Terathum,Bara,Dhankuta,Bhojpur,Terathum,Sankhuwasabha,Chitwan,Khotang,Parsa,
Taplejung,Nalwalparasi,Rupandehi,Panchthar,Kapilvastu,Makwanpur districts. Its program is women focused micro-financing program based on Grameen Bank Financial System of Bangladesh.

6. Target Clients

The bank targets women who don’t have more than 1.5 Bigha land, a little house, and a yearly income of capital income of less than NRs. 5500.

7. AUDIT

A. Internal Audit:

Nerude has separate Internal Audit Department. The department reports directly to ED & audit committee. The internal audit team spends about 75% of its time in field work. During the audit time the audit team visits centre meetings, interacts with clients so that any weakness in both financial and non-financial service part of the Nerude could be identified and improved.

B. External Audit:

The Nerude has adopted a policy that its annual external audit should be carried out by independent accountancy firm or auditor. The external auditor will be Chartered Accountant. The scope of the external auditor includes an analysis and verification of the financial statement with the book of accounts and verification of the financial statements.

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