Mount Makalu Development Bank Ltd lies at Basantapur VDC of Terhathum District. Basantapur is small town which is located at the boarder of Terhathum, Dhankuta and Sankhuwasava district and indentified as a tourism and commercial area of eastern development hill region. To fulfill the financial needs of this place,by understanding the financial market and to collect unproductive saving of common people, some of intellectuals, merchants, socialists and common people decided to establish Mount Makalu Development Bank Ltd. The Bank was registered in Company Registrar Office on 2066 Mangsir 19th as a Public Limited Company with limited liability on shares. Similarly it received permission from Nepal Rastra Bank to conduct financial transaction on 2067 Ashad 30th with financial institution of “B” Class (One District) with its activities in Terhathum district. The bank has started its financial transaction on 2067 Shrawan 5th from head office at Basantapur, Terhathum.