Banks and Financial Institutions Back on Pandemic Mode of Operation; Central Bank Issues Instructions to Minimize Virus Spread

Nepal Rastra Bank (NRB) has directed banks and financial institutions to be vigilant with rising cases of Covid-19. The central bank has directed banks and financial institutions to provide service in a way that minimizes the risk of infection while keeping in view the continuity of service.

The government of Nepal has issued a slew of orders amid the threat of a second wave of the virus. According to the Ministry of Health and Population, 1,227 new cases were recorded in the last 24 hours of which 98 are in children. Kathmandu Valley recorded 634 cases—505 are from Kathmandu, 97 from Lalitpur, and 32 from Bhaktapur.

In response to this, NRB has suggested creating a working environment by dividing the employees into groups so that there is no direct contact between the groups. For this, NRB has directed to take measures like remote access, work from home, shift-wise work, etc. based on the need. The central bank has also directed to make arrangements for immediate testing in case of suspicion of infection in the employees, to isolate and quarantine the infected employees.

NRB has also directed the banks and financial institutions to form a Covid 19 security management group to facilitate the problems related to Covid 19 and to mobilize the group actively.

Banks and financial institutions are to smoothen the service flow by making arrangements so that the service recipients are not crowded and physical distance is maintained. In addition, they are to encourage the services provided by banks and financial institutions to be done electronically as much as possible so as to reduce the number of service recipients on the branches.

Furthermore, in order to reduce the risk of infection from ATM booths operated by banks and financial institutions, NRB has directed to provide sanitizer and tissue paper along with the instruction to keep open doors. It has also been directed to ensure physical distance in the programs such as meetings, seminars, and training conducted by banks and financial institutions and to make arrangements for conducting such programs through the virtual medium as much as possible.