NRB direct banks to operate limited branches only

Kathmandu: Nepal Rastra Bank (NRB) has directed banks and financial instutions (BFI) to operated Only limited branches during the prohibitory order.

Issuing a notice today, NRB has directed the licensed A, B, C and D class banks and financial institutions to operate alternate services from limited branches following complaints that there is additional risk and congestion during the prohibitory order.

According to the notice, during the restrictions imposed in three districts of Kathmandu Valley, commercial banks have to open three branches in Kathmandu, development banks have to open two branches and finance has to open only one branch.

Commercial banks in Lalitpur will have two branches, Bhaktapur one and development banks and finance companies will have one branch each in Lalitpur and Bhaktapur.

The bank will have to publish the information on the website daily including the contact number of the closed branch for the essential services and the information about the alternative branch and the time when the branch will remain open.