Kathmandu. Nabil Bank and Citizen Investment Trust (CIT) have signed a Memorandum of Understanding (MoU) to manage the retirement fund of the bank’s employees. Fund Director Chhabi Raman Adhikari and Chief of Human Resources Department of the Bank Diwas Karki signed the agreement on behalf of their respective organisations. <\/p>\n
The agreement provides for the management of gratuity fund and additional retirement fund based on contribution. <\/p>\n
The employees of the bank have to deduct the fund on a monthly or annual basis and deposit the amount in the investment fund regularly. <\/p>\n
The fund will prepare and record the personal accounts of the bank’s employees. The fund will make arrangements to pay the retirement amount to the retired employees on the recommendation of the bank. <\/p>\n
Similarly, the employees of the bank will be able to get interest, return and other facilities as mentioned in the CIT Act, Rules, Byelaws, Directives and Work Procedures. There is also a provision to submit the details of the personal account of the bank, loan amount and investment to the fund. <\/p>\n
The Fund will provide payment to the retired or retired employees by deducting tax as per the rules. For this, the bank will have to provide details of its employees to the fund, deposit the amount deducted monthly and annually in the concerned fund and recommend for the payment of the retirement amount of the retired employees. <\/p>\n
The agreement also states that the amount of retirement, gratuity and additional retirement fund of the employees of the bank in the retirement fund operated as approved as per the Income Tax Act, 2058 will be transferred to the fund. <\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Nabil Bank and Citizen Investment Trust (CIT) have signed a Memorandum of Understanding (MoU) to manage the retirement fund of the bank’s employees. Fund Director Chhabi Raman Adhikari and Chief of Human Resources Department of the Bank Diwas Karki signed the agreement on behalf of their respective organisations. The agreement provides for the management […]<\/p>\n","protected":false},"author":1,"featured_media":30136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[123,126,147],"tags":[],"class_list":["post-30141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-update-en","category-banking-news-en","category-news-en"],"acf":[],"jetpack_featured_media_url":"https:\/\/english.bankingsansar.com\/wp-content\/uploads\/2026\/05\/image-1.jpg","_links":{"self":[{"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/posts\/30141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/comments?post=30141"}],"version-history":[{"count":1,"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/posts\/30141\/revisions"}],"predecessor-version":[{"id":30142,"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/posts\/30141\/revisions\/30142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/media\/30136"}],"wp:attachment":[{"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/media?parent=30141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/categories?post=30141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.bankingsansar.com\/bs_api\/wp\/v2\/tags?post=30141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}