Nepal Bank Limited (NBL) that has been assigned to distribute teachers´ salary, Standard Chartered Bank (SCB) that distributes pension of ex-Gurkhas, Nepal SBI Bank that transfers ex-Indian army´s pension, and Himalayan Bank engaged in remittance transfer have mainly failed to settle large accounts.
While the banks were suppose to make those payments prior to Dashain festival, teachers, ex-army men and family members of overseas workers, who did not get payments, lamented that they have been forced to approach the banks almost every day to inquire about the payment.
“Unfortunately, we have no answer to their queries. We neither have adequate cash nor know when we will receive adequate supply from the central bank,” said Rishi Ram Chiluwal, chief of NBL branch office.
According to Chiluwal, the bank was required to issue Rs 120 million as salary to the teachers of some 500 schools in Kaski district alone. But the bank had managed to pay salary of mere Rs 60 million before the Dashain festival. In the post-Dashain operations, the bank distributed additional Rs 20 million over the last two days. However, with some 33 percent of the salary still to be distributed, officials said they are having a tough time facing the anger of unpaid teachers.
Likewise, Nepal SBI Bank officials said that they too were facing serious problems in paying salary and pensions of ex-Indian army personnel. While the shortage of cash triggered the problem, raise in salary and pension amount further aggravated its plight.
“We distributed about Rs 600 million before Dashain. We are still seeking cash from other branches to settle remaining payments,” said Suraj Manandhar, chief of Nepal SBI Bank in Mahendrapul.
SCB that distributes some Rs 120 million in pension to the retired British army men every month, too, has not been able to make the payments. Similar is the situation at the Himalayan bank.
Naresh Shakya, manager of Nepal Rastra Bank, Pokhara office, admitted that the four major banks dealing with teachers´ salary, pensions and remittances are reeling under the crisis of cash shortage. He, however, added that the problems of the banks would be solved by the end of this week, when the office will get Rs 13 billion for distribution.
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