The Rural Microfinance Development Centre Ltd. (RMDC) celebrated its 17th Anniversary of its establishment on October 30, 2015 in Kathmandu.
The anniversary program was inaugurated by chief guest Dr. Chiranjibi Nepal, Governor of Nepal Rastra Bank. Mr. Ashoke SJB Rana, Chairman of RMDC presided over the program. Mr. Jyoti Chandra Ojha, CEO of RMDC delivered an opening remark in the ceremony.
The ceremony was attended by around 100 guests including senior officials of the Nepal Rastra Bank, current and ex-board members of RMDC, officials from commercial banks, donor agencies, microfinance institutions, policy makers and other stakeholders.
On the occasion, Mr. Jyoti Chandra Ojha, CEO of RMDC presented the progress status of RMDC. In the presentation he highlighted that, RMDC had already made partnership with more than 200 microfinance organizations and had outstanding loan balance of more than Rs. 4 billion with its partner organizations (POs') at the end of the fiscal year 2014/15. He said that RMDC has been able to maintain excellent loan portfolio quality with a hundred percent loan recovery rate from the very first year of its operation. This has been possible due to prudent lending criteria & process it has adopted with close supervision and follow up of its partner organizations. He also highlighted objectives, approaches, capital structure, products, current challenges of microfinance and strategies and way forward of RMDC.
On the occasion, Chief Guest, Dr. Nepal gave a certificate of appreciation to Ex-board members of RMDC Mr. Manmohan Kumar Shrestha, Mr. Kiran Kumar Shrestha, Mr. Ramjee Regmi, Mr. Anil Kumar and Ms. Sadhana Upadhyay, in acknowledgement of their substantial contribution to the growth and development of RMDC. Similarly, he also gave certificate of best partnership award to eight partner organizations of RMDC. The award receiving partner organizations were Forward Community Laghubitta Bittiya Sanstha Ltd., Sunsari; Jeevan Bikash Samaj, Morang; Sana Kisan Krishi Sahakari Sanstha, Bara; Kisan Bahuuddesiya Sahakari Sanstha Ltd., Kailali; Bauddha Grameen Bahuuddesiya Sahakari Sanstha Ltd., Surkhet; Maitri Bahuuddesiya Sahakari Sanstha Ltd., Gulmi; Mahila Sahayogi Sahakari Sanstha Ltd., Kathmandu; Navodaya Bahuuddesiya Sahakari Sanstha Ltd., Jhapa.
On the same occasion, he also gave Certificate of appreciation to six staffs of RMDC who completed 10 years of service at RMDC.
Honorable Governor Dr. Nepal, highlighted the current economic situation of Nepal particularly the contribution of the foreign remittance to the GDP of the country as a large mass of population work aboard due to lack of employment opportunities in the country. He suggested being self dependent with maximum utilization of local resources in the country. Dr. Nepal also thanked RMDC for its contribution to raise the financial access to 1.9 million poor household through its partner organizations. He appreciated the microfinance institutions for providing need based financial supports to the rural poor for self-employment generation.
The program successfully concluded with a documentary show of RMDC’s history, achievements and progresses.