Talk about setting high targets and having the will to achieve it. This finance company claims to have both. Having achieved the highest amount of paid up capital of Rs 320 million amongst non-banking financial institutions, Ace Finance Company Ltd is now eyeing a bigger role for itself in the financial sector of Nepal. It has applied to the Nepal Rastra Bank for an upgradation into the ‘Class B’ financial institution or that of a development bank. Disclosing this at a press conference, Siddhant R Pandey, managing director and chief executive officer said this was the first time in the history of the banking sector in Nepal that a financial institution was seeking to be upgraded into a development bank. “There is such a provision for upgradation with NRB, just that it has never been used till now,” claimed Pandey. Since Ace Finance met all the requirements stated in the BFI Act 2063, like being profitable for five years, or having an NPA level of less than five per cent, it decided to go for this upgradation.