Vijaya Laghubitta Bittiya Sanstha Ltd. (VLBS) is a micro finance institution licensed as a national level "D "class financial institution from Nepal Rastra Bank, the central bank of Nepal. Established on 7th Aug 2012 as a Public Limited Company under Company Act of Nepal and licensed from the Central Bank of Nepal on 3rd January 2013, its head office is at Gaindakot - 5, Nawalparasi. It aims to provide banking services to the rural unbanked population and contribute to the overall poverty reduction program through increment of production and productivity of rural Nepal.
The concept of VLBS was initiated by Vijaya Development Resource Centre (VDRC- Nepal), a national level NGO which is well known as one of the leading NGOs in promoting community based microfinance model in Nepal and it was further backed and supported by Goodwill Finance, one of the leading finance companies and some 184 multi-disciplinary development professionals of Nepal. In fact, the promoters of the VLBS come from three major categories, Non Government Organizations (NGOs), Bank and Financial Institutions and Individual Members.
VDRC, one of the major promoters, represents the NGO sector. It is well known as one of the leading NGOs in promoting community based microfinance model in Nepal and microfinance has been one of the major interventions and specialized areas of VDRC since 1990. Over three decades of its history in community development, VDRC Nepal has promoted more than 500 self-help groups and 250 community based micro-finance institutions, namely Savings and Credit Cooperatives (SCCs) over 30 districts in Nepal. VYCCU Savings and Credit Cooperative, which is based in Gaindakot, Nawalparasi, is one of the leading cooperatives in Nepal, was initiated and promoted by VDRC in 1990. The centre is representing the NGOs sector.
Goodwill Finance Company, one of the leading financial companies in Nepal, is another major promoter of the VLBS. The company is the only institution which represents banks and financial institutions. The company is investing nearly 21.3% of the paid up capital. There are 184 individual promoters of VLBS and the majority of them come from development profession. The members have diverse background including, microfinance, banking, economics, management, engineering, medicine, marketing, information technology, agriculture, forestry and so on.
The authorized capital of VLBS is Rs. 200 million (20 Crore) and issued and paid-up capital is Rs. 140 million (14 Crore). It has been providing both financial and non financial services to its members. The financial products include various loan products, savings products, insurance and remittance services. Similarly, the non financial services comprises of education on financial literacy, technical support to the entrepreneurs and marketing support. It works mainly through solidarity group approach. It also has been trying to collaborate with Informal Groups/Self-help Groups and Cooperatives. The institution is governed by seven Board of Directors and the overall operations is led by highly qualified professional team.