NIC Asia Laghubitta Bittiya Sanstha Limited Appoints Laxman Chalise as New Board Chairman

14th June 2026, Kathmandu

NIC Asia Laghubitta Bittiya Sanstha Limited has officially announced the appointment of Laxman Chalise as the new Chairman of its Board of Directors.

NIC Asia Laghubitta Chairman

The leadership change was finalized during the first official board assembly held immediately after the completion of the company Eighth Annual General Meeting. By forming this new leadership team, the microfinance institution aims to strengthen its corporate governance standards, enhance its regional credit programs, and utilize the deep professional knowledge of its board members to drive sustainable business growth across all provinces.

Reviewing the Eighth Annual General Meeting Outcomes and Financial Approvals

The recent annual general meeting served as an important platform for shareholders to review and approve the financial performance of the company over the past operational year.

The large gathering of investors allowed the executive management team to present detailed reports on the institution asset stability, loan recovery rates, and rural expansion milestones.

The primary financial reports and institutional assessments approved during the general meeting included:

• Official Board of Directors Annual Report: Shareholders reviewed and passed the comprehensive summary of operational activities and regional development initiatives led by the board.
• Independent Auditor Statutory Review: The assembly analyzed and approved the official transparency findings and internal accounting audits compiled by the external audit firm.
• Audited Financial Statements for Fiscal Year 2081/82: The core investors cleared the official balance sheet, profit and loss account, and cash flow statement calculated up to the end of Ashad 2082.
• Approval of Strategic Growth Plans: The voting members backed the updated operational budgets and provincial capital allocation blueprints presented by the management team.

The administrative board notes that the successful clearing of these historical financial statements shows the solid economic health of the firm, giving local savers and international development partners total confidence in its daily operations.

Detailed Election Results and the New Board of Directors Structure

A major milestone of the annual meeting at the Gorkha Hotel in Dharan, Sunsari, was the formal selection of the new individuals responsible for overseeing the company long term business goals.

The election process was completed smoothly, with qualified candidates from both the founding promoter groups and the general public securing their seats without opposition.

The newly formed Board of Directors structure for the microfinance institution includes:

Elected Promoter Shareholder Representatives

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The founding investment group selected four experienced professionals to protect their core capital lines and guide long term business strategies, including Laxman Chalise, Bibhor Kumar Agrawal, Dipendra Sharma, and Pushkar Raj Joshi.

Elected Public Shareholder Representatives

To ensure fair treatment for regular everyday investors, the public shareholding group selected two capable representatives to join the board, choosing Balram Paudel and Milan Sigdel.

Following the formal completion of these general shareholder election rounds, the newly formed board members met for their inaugural session, voting unanimously to place Laxman Chalise in the central role of Board Chairman.

Strategic Impacts of Leadership Experience on Rural Microfinance Goals

Placing a fresh, highly capable management group at the helm of the company matches the long term plans of the firm to expand its footprint inside a highly competitive rural credit market.

The corporate executive team stated that having seasoned leaders on the board will help the company design better financial literacy programs and modern mobile banking tools for its members.

The main long term advantages of this corporate board restructuring include:

• Stricter Internal Risk Management Guidelines: Utilizing the deep industry background of the new directors to design safer lending rules and lower bad loan rates.
• Faster Rollout of Modern Digital Tools: Allocating fresh capital to upgrade mobile transaction apps so rural women entrepreneurs can manage their microloans easily from home.
• Better Access to Capital Markets: Building stronger partnerships with large commercial banking networks to secure affordable wholesale funding for local sub branches.
• Stronger Training for Field Staff: Implementing professional career tracks to upskill local credit officers, ensuring they deliver clear and honest financial advice to communities.

As small scale farming and cottage industries continue to expand across the country, having access to reliable, well managed microcredit services ensures that vulnerable households can grow their businesses safely.

By running a clean, transparent, and well organized governance structure, NIC Asia Laghubitta Bittiya Sanstha Limited continues to build a more secure financial foundation, helping accelerate economic growth and support long term prosperity for citizens nationwide.

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