The Securities Board of Nepal (Sebon) has granted permission to Siddhartha Bank Ltd to operate mutual fund -- a scheme that paves the way for small investors to invest in the capital market.
The bank will not now set up Siddhartha Mutual Fund as per the Mutual Fund Regulations 2011 that came into effect from September 27, 2010.
Sebon has allowed the bank to mobilize a minimum of Rs 1 billion through mutual fund.
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