somersby

Tag: commercial banks

97 local units of Nepal still don’t have commercial banks

Kathmandu, September 18 Though the central bank of Nepal had urged all commercial banks of the country to expand their services to all 753 local units across the country by mid-July, 97 of them still do not have any such financial institutions. Finance Minister Yubaraj Khatiwada says only 656 local units have commercial banks. Speaking […]

New monetary policy: Commercial banks are required to open provincial offices

Kathmandu, July 11 The central bank of Nepal says all commercial banks of the country should establish provincial offices in seven provinces of the country within next one year. Unveiling the new monetary policy for the next fiscal year 2018/19, Nepal Rastra Bank Governor Chiranjibi Nepal said the banks should establish the provincial offices by […]

Nepal’s central bank to punish commercial banks if they don’t expand to local units

Kathmandu, March 28 Nepal’s central bank has warned of action against commercial banks if they fail to expand their services to newly formal local government units (municipalities and rural municipalities) by the end of this fiscal year in mid-July. As per the directive issued by the Nepal Rastra Bank, the banks have to reach 359 […]

Gap between interest rates for saving and fixed deposit accounts at historic low in Nepal

Kathmandu, February 22 The average gap between interest rates imposed by banks for saving accounts and fixed deposit accounts has reached the historic low in Nepal. The central bank of the country, therefore, says its years-long efforts have now materialised. All commercial banks have given 11 per cent interest for people depositing money in fixed […]

Almost all commercial banks likely to meet ‘eight billion challenge’ without mergers

Two years ago, Nepal’s central bank decided to increase the minimum paid-up capital requirement for commercial banks. Its declared objective in doing so was to make banks more resilient to risks, but the undeclared motive was to force the 30-odd banks to enter into mergers so that their number falls by half. But almost all […]