Finance Ministry issues instruction to reestablish banking outlets

Kathmandu, 27 Jan – The Ministry of Finance has issued instructions to the government banks to address the issue of grievances of the people where the banks’ branches were displaced during the armed conflict.

The Ministry on Thursday evening summoned the chief executives officers of the Rastriya Banijya Bank (RBB), Nepal Bank Ltd (NBL) and Agriculture Development Bank to complain that the reestablishment of the branches failed to meet expectations.

Finance Secretary, Dr Shanta Raj Subedi, summoned the CEOs of the three banks and instructed them to reestablish the branches that were displaced during the insurgency.

Subedi pointed out that the government was facing hurdles in providing banking and financial services to the people living in the rural areas and implementation of the ‘One Individual One Bank Account’ policy as the banks were centered in urban sectors.

He also issued instructions for amplifying the number of banks’ branches as per the necessity, continuing mobile banking services and implementing the online payment system in the urban sectors, said Ministry’s Joint Secretary, Ananda Raj Dhakal.

During the armed conflict, a total of 273 government – run banking outlets were displaced. The conflict forced the displacement of NBL’s 90, RBB’s 108 and Agriculture Bank’s 75 branches. Until now, NBL has established 30 branches, RPP 51 and Agriculture Bank 70, according to the Finance Ministry. RSS