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Tag: Nepal Rastra Bank

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 […]

Now onwards, Nepalis can deposit cash in their accounts through other banks too

Kathmandu, January 5 The central bank of Nepal says clients of banks operating in the country now onwards can deposit cash in their accounts through other banks too. “The Board of Directors of Nepal Rastra Bank has endorsed a procedure in this regard on Thursday,” NRB Deputy Governor Chinta Mani Siwakoti says. Meanwhile, the official […]

Central bank proposes new ceilings on mobile, internet banking transactions

Kathmandu, November 30 Nepal’s central bank has proposed new ceilings on the amount to be transacted via mobile and internet banking technologies. The Nepal Rastra Bank says it has requested banks and financial institutions to provide comments on the proposed ceilings. For mobile banking, Rs 5,000 is proposed as the maximum amount per transaction. Likewise, […]

Each Nepali has a ‘loan’ of Rs 24,147: Nepal Rastra Bank

Kathmandu, August 23 Nepal’s domestic and foreign debt burden has increased to Rs 697.37 billion as of the last fiscal year 2016/17, the Nepal Rastra Bank says. According to the Central Bureau of Statistics’ projection, Nepal’s population this year is around 28.8 million. That means, each Nepali owes Nepal and foreign nations Rs 24,147. In […]

Lawmakers protest NRB’s circular barring people’s representatives from running banks

Kathmandu, August 22 Lawmakers have protested the central bank’s recent circular to bar people’s representatives elected at local, provincial or federal level from joining the board of directors of banks and financial institutions. Whereas Nepal Rastra Bank claims that the circular was issued in line with provisions of the Banks and Financial Institutions Act, lawmakers […]