Nepal Rastra Bank recently approved the merger of Birganj-based Laxmi Bank and the prominent Hisef Finance Company. The new entity will operate as Laxmi Bank Limited, with a paid capital of Rs 610 million. Existing Hisef employees and the Hattisar office were absorbed by Laxmi Bank, which will be headed by CEO Suman Joshi. Laxmi Bank has already emerged as a key player in consumer finance, with pioneering efforts in incorporating IT into the Nepali banking world. Future plans include ATM and debit cards, and a branch in Pokhara.