Bank To Open Only 3 Branches In Kathmandu

May 25, 2021 | Investopaper

Nepal Rastra Bank (NRB) has taken a tougher policy to help control the second wave of corona epidemic. The central bank on Monday issued a notice stating that only ‘A’ class banks can open only three branches in Kathmandu. It can open two branches in Lalitpur and one in Bhaktapur during the lockdown period. 

According to the Department of Banking and Financial Institutions Regulation of NRB, the service should be provided with high vigilance while minimizing the risk of COVID-19. As per the arrangement to be implemented from Tuesday, ‘B’ development banks will be able to open two branches in Kathmandu, one each in Lalitpur and Bhaktapur. Class C finance companies will be allowed to open only one branch in each of the three districts.  


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