Laxmi Bank, a private sector commercial bank, has decided to increase its paid up capital to Rs 550 million at its second annual general meeting on 2 February. Chaired by Mohan Gopal Khetan, it also has plans to float public shares within the current fiscal year. The Laxmi Bank began full-fledged operations as the country's 16th commercial bank from April last year. It has branches in Jeetpur and Banepa.