The livestock purchased by MNBBL loan has been insured with Deposit and Credit Guarantee Corporation Ltd. The borrower needs to pay 2% of disbursed loan amount as annual premium. The insurance is valid for one year. The insurance can be extend for next year by paying the aforementioned premium. When the insured livestock dies, the beneficiary gets 80% of the insured amount as compensation.
As per the central bank’s directives, all the deposit amount up to NRs.200,000.00 has been insured with the Deposit and Credit Guarantee Corporation Ltd.. Bank has paid 0.20% of deposit amount as premium and updates it regularly.
Muktinath Social Security Program
This Program aims that providing credit plus services as social responsibility of microfinance program. Clients become confident when bank provides compensation in the vulnerable situation happens due to natural calamities. The purposes of social security programme are as follows:
- Protect microfinance clients in critical situation created by natural disasters,
- Develop clients behavior as proactive rather than reactive in such conditions,
- Support clients on maternity to take nutritional diet for better health,
- Protect clients from the loss of valuable assets during weak situation,
- Preserve the social capital among microfinance members.
1. Maternity Expenses Service:
The clients who have completed at least one cycle of general or business loan are eligible for maternity expenses service for the first two delivery. This service amount is NRs. 1,500.00 which will be provided at the clients’ home within 11 days of delivery.
2. Calamities Relief Service:
When a client loses her physical property due to natural calamities like land slide, flood, fire and lightening, this service is provided based on loss of assets. This service is provided from NRs. 2,500.00 to 5,000.00 as immediate relief to the victim.