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News tagged 'BFIs'

Cases of coronavirus rising among bank staff

Aug 11, 2020

KATHMANDU, AUGUST 10 The rising cases of coronavirus among bank staffers across the country have raised serious concerns over the effectiveness of measures adopted by banks and financial institutions (BFIs) to prevent the spread of the virus. As banking services are among essential services and directly linked to the public, the spread of the conta...

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Central bank directs BFIs to operate with limited employees

Aug 10, 2020

KATHMANDU, AUGUST 9 Nepal Rastra Bank today directed banks and financial institutions to deploy staff at its branches on a turn-wise basis, keeping in view the rising number of coronavirus cases in Kathmandu valley. Issuing a notice today, the central bank asked BFIs to divide their staff into groups as per their necessity and make them attend offi...

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NRB indirectly pressuring BFIs for merger

Aug 3, 2020

KATHMANDU, AUGUST 2 Though the government and Nepal Rastra Bank (NRB) have been saying that banks and financial institutions (BFIs) will not be compelled for merger and acquisition, the central bank is seen indirectly pressuring banks to go for merger. As per sources, NRB is preparing to seek progress report on merger and acquisition from banks tha...

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Banks mull slashing interest rate on deposits from new fiscal year

Jun 30, 2020

KATHMANDU, JUNE 29 Banks are preparing to reduce the interest rate on deposits citing that the low interest rate on loans and higher rates on deposit are adding to the financial pressure on banks and financial institutions (BFIs). Though banks have not been reducing interest rate on deposits despite the pressure to bring down interest rate on loans...

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Banks to adopt austerity measures as COVID-19 hits businesses

Jun 29, 2020

KATHMANDU, JUNE 28 With their financial position being hit and expected to be hit even harder in the coming months due to the COVID-19 pandemic, banks and financial institutions (BFIs) are falling back on austerity measures including not renewing the agreement of those working on contract basis, reducing allowances of staffs and bringing down the a...

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