Kathmandu. Although it is insisted that the integrated business will be started within the month of January, it will take more time to merge Civil Bank into Himalayan Bank. Since the acquisition process could not be completed by the end of January, it was said that the integrated business would be carried out from January 18. But this process has been stopped since the National Bank has not yet issued a letter to complete the acquisition process.

Officials of both banks have said that since the National Bank will issue letters to complete the process of receipt of letters only on Sunday, they are trying to complete all the processes by the end of January. After the National Bank gives the final approval, all the licenses of civil banks that are about to cease to exist should be revoked.

From the company registrar's office to the internal revenue office, permission has to be revoked in 5-6 agencies. Both the banks have also started preparing to introduce a voluntary retirement plan for the employees before starting the integrated business. But it has not been decided whether to bring such a plan only for the civil employees or to remove the Himalayan employees as well.

It has been agreed that employees of the lower level than the manager will be merged with the same status in staff adjustment. But most of the civil employees will be reduced by one level while adjusting the management level employees.

But when the civil is merged, Himalayan will not increase the salary of civil employees. According to the law, the salary of the retired employees cannot be reduced, so the salary of Himalayan, who is the highest paid in the banking sector, and the civil employee with the lowest salary rate will not be adjusted. An employee of the Civil Service says that this may lead to differences and discord between the employees of the two banks in the future.

Even if these two banks are merged, the number of employees will reach only around 2 thousand. Therefore, although there is no compulsion to retire many employees, the civil servants say that they can discourage those who come from the civil service by giving them a low salary. But the management of Himalaya said that after becoming a single organization, they will gradually adjust the salary based on responsibility and efficiency.

Going through the process of acquisition rather than merger, it will be easier for Himalayan to carry out everything in its own way. However, as there is a lot of work to be done, bank officials say that it will take time to complete the preliminary preparations until the end of this month.