An agreement between Kathmandu University and Laxmi Bank Limited was signed on 29 December 2022 at Kathmandu University Dhulikhel to establish an endowment fund for the “Laxmi Bank Scholarship for Women in STEM”. As per the terms of the agreement, Laxmi Bank Limited has committed to contribute NPR 1,00,00,000 (Rupees One Crore) in Endowment Fund to Kathmandu University. The proceeds from the endowment fund would be utilized to provide Scholarships to an eligible female student pursuing Master’s or Ph.D. levels in STEM (Science, Technology, Engineering and Mathematics). The bank would deposit the total amounts over the course of five years in an equal annual installments.

In an informal ceremony held at the Office of the Vice Chancellor, the agreement was signed by Mr. Ajay B. Shah, Chief Executive Officer of Laxmi Bank Limited, and Prof. Dr. Bipin Adhikari, Coordinator, Endowment Drive Committee, on behalf of Kathmandu University, in the presence of the Vice Chancellor, Prof. Dr. Bhola Thapa, Registrar, Prof. Dr. Achyut Wagle, Dean, School of Engineering, Prof. Dr. Manish Pokharel and other KU Officials. The event was coordinated by Assoc. Prof. Dr. Biraj Singh Thapa, Acting Director, Planning and Development Directorate.

In his welcoming remarks, Prof. Dr. Bhola Thapa emphasized the significance of the endowment fund for the future of Kathmandu University. He discussed the strategy KU has taken to ensure that the fees of deserving candidates are covered by scholarships, which prompted Kathmandu University to launch an endowment drive. He also stressed the importance of having access to high-quality education in order to combat the nation's ongoing brain drain issue. Similarly, Prof. Dr. Bipin Adhikari provided a brief overview of KU’s endowment activities of the university and highlighted the need for collaboration between the private sector and the academic sector to further the development of the nation as a whole. Prof. Dr. Achyut Wagle thanked the bank for its generous contribution to the university and emphasized the many connections the bank and university have already made through the university’s alumni who have now taken on significant roles within the bank and senior officers who serve as visiting faculty at the Kathmandu University School of Management.

Mr. Ajay B. Shah, Chief Executive Officer, Laxmi Bank, shared a brief background on how the endowment agreement came to fruition. He emphasizes that the bank's corporate social responsibility places a high priority on two issues: education for girls and the environment. He expressed his happiness that the endowment agreement provides a common platform for Laxmi Bank's corporate social responsibility aspirations and KU's strategy of providing access to high-quality education, and he shared that the bank is hopeful that the endowment fund will have a meaningful impact.