People put their savings in the banks with the trust that they will return their deposits at the time of need. However, it has been nearly a week that the customers have not been able to withdraw their deposits from branches of the banks, let alone from the Automated Teller Machines (ATMs). Our objection is not only against the banks and their apex body Nepal Bankers’ Association but also to the central bank, as both of these institutions have grossly failed to fulfill their basic responsibilities of assuring unhindered cash withdrawals to customers.
Even more disturbing is the fact that both the banks and the central bank have not taken any concrete step to ensure that clients get basic banking services. We have not even heard of both the institutions requesting the government to provide reliable security arrangements at least to the ATMs that are located in the major areas of the city. It seems that central bank is not concerned toward the jittery that common depositors are facing.
What should be taken seriously is that people have been deprived of basic banking facilities at a time when the banking sector is trying hard to rebuild its badly eroded reputation due to series of incident in recent months. The incident might give impression to the clients that Nepal’s banks are not trustworthy and they cannot provide you the cash whenever you desire.
There is no disagreement that the situation at the moment is not normal. Yes, the indefinite strike has brought normal activities to a standstill and law and order condition is weakest in recent months. But still, we at Republica believe that there still is something that can be done. The bankers should make a formal request to the agitating Maoists so that they are allowed limited-hour transactions like the traders are enjoying everyday in the evening and should call on the public to support the proposal. On the part of the government, it should provide reliable security to specific ATM locations and necessary arrangement should be made to transport cash to the ATMs.
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