KATHMANDU, NOVEMBER 30
The Nepal Rastra Bank (NRB) has announced it will invest over Rs 1.53 billion in fixed deposits of banks and financial institutions (BFIs).
The central bank, through a notice published on its website today, has asked BFIs to place bids for the aforementioned amounts. The maturity date to keep the money in their fixed deposits is one year.
According to the notice, the NRB is seeking to invest Rs 1.22 billion in commercial banks (group 'A'), Rs 229 million in national level development banks (group 'B') and Rs 76.5 million in national level finance companies (group 'C').
The central bank has urged the BFIs to submit their applications within midnight of December 4. To avail the facility, the beneficiary BFIs should meet the criteria set by the central bank. Similarly, the non-performing assets should be less than five per cent of their total credit portfolio and have at least 20 per cent or more of net liquid assets of internal deposits.
'Adopt caution in branchless banking transactions'
In light of increased number of banking transactions through branchless banking services opened by banks and financial institutions, the Nepal Rastra Bank (NRB) has issued a notice on Wednesday, urging people to remain cautious and aware to avoid risks during such transactions.
The NRB has suggested people to conduct banking transactions only through authorised representatives and assistant representatives of banks and financial institutions, to conduct transactions only through the designated service centre, to conduct transactions through electronic devices only, to keep the printed slips obtained from electronic devices after a transaction, to confirm transactions through bank accounts from time to time, and inform the central bank in case of any complaints or suggestions. Banks and financial institutions licensed by the NRB can provide branchless banking services by appointing an official representative in places where banks and financial institutions are not present, except in metropolitan cities and sub-metropolitan cities.
A version of this article appears in the print on December 1, 2022, of The Himalayan Times.
