Only 25% of banks' branches to be opened

Published On: May 12, 2021 10:03 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, May 12: Banks and financial institutions (BFIs) will now be able to open only 25 percent branch offices in the Valley. 

Banking transactions should be conducted electronically as much as possible. Similarly, the central offices of banks and financial institutions should make arrangements to operate using only 20 percent manpower.

The order issued after a joint meeting of the Chief District Officers of Kathmandu, Bhaktapur and Lalitpur on Tuesday stated that banks and financial institutions should be run with less manpower. As per the order, the details related to the implementation by the BFIs have to be given to Nepal Rastra Bank and District Administration Office. 

According to Kali Prasad Parajuli, Chief District Officer (CDO) of Kathmandu, banks and financial institutions have been urged to operate with fewer branches and manpower to reduce the risk of COVID-19. In case of operation of vehicles of banks and financial institutions, limited vehicle passes will be issued and the details will have to be given to the Central Bank and the CDO. The central bank has already directed BFIs to operate using less manpower.

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