Jeevan Bikash’s Special General Assembly Approves Merger Agreement

June 24, Biratnagar – The special general assembly of Jeevan Bikash Microfinance Financial Institution has unanimously approved the merger proposal involving three microfinance institutions. The assembly was held on Wednesday at the institution’s central office in Katahari, Morang, where Chairman Bikram Raj Subedi presented the merger proposal, which was passed by consensus.

On March 11, a merger agreement was signed among Jeevan Bikash Microfinance, with its central office in Morang; Unique Nepal Microfinance, headquartered in Kohalpur, Banke; and Manushi Microfinance Financial Institution, with its central office in Banepa, Kavrepalanchok. This merger represents the largest agreement in the microfinance sector to date.

To ratify the agreement, Jeevan Bikash convened the special general assembly. The assembly also approved retaining the institution’s name as “Jeevan Bikash Microfinance Financial Institution Limited” with its central office remaining at Katahari Rural Municipality-2 in Morang. Post-merger, the current central offices of Unique Nepal and Manushi Microfinance will be converted into regional offices. Furthermore, the assembly approved the proposal that the institution’s leadership will be headed by the current CEO of Jeevan Bikash Microfinance, Sanjay Kumar Mandal. The general assembly endorsed the report presented by the chairman of the board of directors and approved all work completed so far in the merger process.

The assembly granted a special mandate to the committee to proceed with merger or acquisition processes with other microfinance institutions in the future. Currently, Jeevan Bikash has a paid-up capital of NPR 175,123,200; Unique Nepal has NPR 14,857,500; and Manushi Microfinance has NPR 10,937,500. After the merger, the total paid-up capital will reach NPR 1,988,844,312. Following integration, the institution will expand its operations nationwide, except in Karnali Province. The assembly was informed that there will be 233 branches spread across six provinces. At present, Jeevan Bikash operates in 31 districts, Unique Nepal in 10 districts, and Manushi Microfinance in 14 districts. The merger process is expected to be completed with integrated operations commencing by the end of Ashad 2083 BS (mid-July 2026).