The concerned Rastra Bank has urged not to engage in activities that will affect financial services, as it will be difficult to mobilize financial resources if unprofessional and disorderly activities against banks and financial institutions and employees working in those institutions are not controlled.
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The National Bank has stated that its serious attention has been drawn to the recent incidents targeting banks and financial institutions.
The Nepal Rastra Bank has urged all concerned not to engage in activities that will affect financial services as it will be difficult to mobilize financial resources if unprofessional and disorderly activities against banks and financial institutions and their employees are not controlled.
‘People who behave irresponsibly and engage in disorderly activities with banks and financial institutions and their employees will be dealt with in accordance with the prevailing law. For this reason, Nepal Rastra Bank requests employees working in the financial sector to work with high morale,’ the statement issued by the bank on Tuesday said.
As a result of the joint efforts of the Government of Nepal, the Nepal Rastra Bank, and banks and financial institutions, the presence of banks and financial institutions at all local levels has made it easier for the general public to deposit money, take loans, receive remittances and receive financial services including social security funds at the local level.
‘The main function of the concerned banks and financial institutions is to provide loans, monitor the projects related to the loans provided and recover the loans in accordance with the Banking and Financial Institutions Act, 2073 BS and the directives of this bank,’ the statement said. ‘Since banks and financial institutions provide loans by collecting deposits from the general public, if the loans are not returned, the deposits cannot be returned, and liquidity is affected, so the borrower has to repay the loans taken regularly.’
However, to address the inconvenience caused in loan repayment due to any adverse circumstances, the Nepal Rastra Bank has been facilitating by making arrangements such as restructuring and rescheduling from time to time, the Rastra Bank has stated.
