NRB to refund depositors up to Rs 500,000 using cooperatives’ assets as collateral

Published On: July 26, 2024 03:31 PM NPT By: Republica  | @RepublicaNepal


NRB to refund depositors up to Rs 500,000 using cooperatives’ assets as collateral

KATHMANDU, July 26: The Nepal Rastra Bank (NRB) has introduced a new policy to safeguard depositors, announcing that it will return up to Rs 500,000 to individuals using the assets of cooperatives’ operators and their family members as collateral. 

Governor Maha Prasad Adhikari made the announcement during the unveiling of the monetary policy for the fiscal year 2024/25 on Friday. The initiative follows a prior commitment made by former finance minister Barsa Man Pun during the budget presentation, promising to return the depositors' funds up to the same amount.

 

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