The National Bank has allowed banks with multiple branches to adjust their branches in metropolitan cities with prior notice, but written consent is required for branches of government agencies.
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Banks and financial institutions must issue a 90-day notice before adjusting branches in the metropolitan city. The Rastra Bank has issued such a directive with the aim of informing the concerned service recipients when adjusting two or more branches.
Under normal circumstances, banks and financial institutions are not allowed to close, relocate or merge branches or any type of office without the prior approval of this bank. However, in cases where there are multiple branches of the same bank and financial institution in a metropolitan city, the Rastra Bank has made a provision to allow the adjustment of three. According to the same provision, the Rastra Bank has made a provision to issue at least 90 days' notice before adjusting branches.
'In the context of increasing electronic payment transactions and significant branches of financial institutions, banks and financial institutions themselves may adjust/merge their branches in the metropolitan city,' the Rastra Bank's directive states. 'In the case of branches established targeting government agencies or public institutions, branch adjustment can be done only after the written consent of the institution.'
Similarly, in cases where two or more branches are being adjusted, the Rastra Bank has also said to make arrangements so that if the customers of the adjusted branch want to repay the loan of the institution or want to discontinue other services, they can repay the loan or suspend the service without charging any fee.
