NRB Extends Deadline for Submission of Interim Financial Reports for FY 2082/83 First Quarter

Nepal Rastra Bank (NRB) has issued a directive regarding the accounting and reporting of interest income for the first quarter of the fiscal year 2082/83. According to the prescribed accounting policies of licensed institutions, interest income recognized on an accrual basis must be allocated as follows: except for interest already received by 15 Kartik 2082, the remaining interest income must first cover applicable income tax, employee bonuses, and statutory funds (including general reserve and institutional social responsibility funds). The balance should then be treated as retained earnings and deposited into the regulatory fund.

Furthermore, licensed banks and financial institutions under categories "A," "B," and "C," as well as infrastructure development banks, are requested to submit their monthly and quarterly reports along with interim financial statements for the first quarter of FY 2082/83 to NRB. The deadline for submission and publication of these interim financial statements has been extended until 21 Kartik 2082. This extension is notified for the information and compliance of all concerned institutions.