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A memorandum of understanding has been made and entered between Budhanilkantha Business Saving & Credit Co-operative Ltd. (hereinafter referred to as “BBC”) and Society of Ex-Budhanilkantha Students (hereinafter referred to as “SEBS”) on 12 January 2013 (28 Poush 2069) on Operation of SEBS Support Deposit (BBC-SSD)

SEBS is desirious to have a fund where the individual SEBS members can deposit their amount on condition of contributing the interest or a part of the interest to SEBS and BBC has agreed to operate and manage such fund on the following terms and conditions.

1.BBC will operate special account under the name of BBC – SEBS Support Deposit (BBC – SSD).

2.SEBS members may deposit any amount under BBC – SSD as normal or fixed deposit with declaration of the portion of the interest to be contributed to SEBS.

3.The interest will be calculated on monthly minimum balance and transferred to respective accounts on quarterly basis.

4.The SEBS members may withdraw the amount deposited under Normal saving at any time by giving a notice to SEBS on the withdrawal of their deposit.

5.The amount deposited under Fixed Deposit may be withdrawn by giving a notice to BBS and SEBS at a least a week before the expiry of the Fixed Deposit Term. In absence of such notice the fixed deposit will be automatically renewed for one year.

6.BBC will provide progressive interest rates for different Deposit Category as listed below based on the amount of the deposit. However, the interest rates may be reviewed based on the overall change in the interest rates at any time for the normal savings and at the end of the term for the fixed deposits.

S.No Category Account Types Amount NRs.Interest Rate

1.Platinum Fixed Deposit (1yr) 300,000.00 and above 15.0%
Normal Saving 500,000.00 and above 9.00%

2.Diamond Fixed Deposit (1yr) 100,000.00 to 300,000.00 14.5%
Normal Saving 300,000.00 to 500,000.00 8.75%

3.Gold Fixed Deposit (1yr) 50,000.00 to 100,000.00 14.0%
Normal Saving 100,000.00 to 300,000.00 8.50%

4.Silver Fixed Deposit (1yr) 10,000.00 to 50,000.00 13.5%
Normal Saving 50,000.00 to 100,000.00 8.25%

5.Copper Fixed Deposit (1yr) 5,000.00 to 10,000.00 13.0%
Normal Saving 1,000.00 to 50,000.00 8.00%

7.SEBS will provide the details of the expenses of the fund received under BBC –SSD at the end of every fiscal year to be presented at the Annual General Meeting of BBC.

8.BBC will provide the SEBS members with the certificate of recognition to the SEBS members for their contribution under the different categories at the Annual General Meeting of BBC.

9.SEBS will be responsible for promoting the BBC – SSD through SEBS website, facebook and other means.

The SEBS Executive committee 2012/2013 would like to thank following person for their pledge, and request remaining SEBSer for commitment.

1.Dr.Tejsu Singh Malla (248C) 10,000/-Fixed Silver Category 100% interest to SEBS (1st )
2.Gyanendra Raj Pandey (937A) 10,000/- Fixed Silver Category 100% interest to SEBS
3.Hemendra Bohra (978A) 50,000/-Fixed Gold Catergory 100% interest to SEBS (1st )
4.Bolaram Pandey (904A) 10,000/-Fixed Silver Category 100% interest to SEBS
5.Bishan Wagle (952A) 10,000/-Fixed Silver Category 100% interest to SEBS
6.Sagun Baidya (928A) 10,000/-Fixed Silver Category 100% interest to SEBS
7.Suresh Pd. Acharya (139A) 1,00,000/-Fixed Diamond Category 50% interest to SEBS (1st )
8.Narayan Pd Sharma 10,000/-Fixed Silver Category 75% interest to SEBS
9.Nani Ram K.C 10,000/-Fixed Silver Category 50% interest to SEBS
10.Sagun Lawoti (933A) 10,000/-Fixed Silver Category 100% interest to SEBS
11.Raju Lama (960A) 10,000/-Fixed Silver Category 100% interest to SEBS
12.Sujan Dhoj Joshi (966A) 10,000/-Fixed Silver Category 100% interest to SEBS
13.Anup Manandhar (988A) 20,000/-Fixed Silver Category 100% interest to SEBS
14.Sachin Shrestha (893A) 10,000/-Fixed Silver Category 100% interest to SEBS
15.Rakesh K. Baidya (900A) 3,00,000/-Fixed Platinum Category 100% interest to SEBS (1st )

For more information please contact:
Budhanilkantha Business Saving & Credit Co-operative Ltd. (BBC) 4248182
Society of Ex-Budhanilkantha Students (SEBS) 4411390