Billions Disappear From Accounts Of Finance Companies

KATHMANDU, June 26:

Trouble seems to be brewing in the country´s finance companies as deposits have fallen by almost eight percent in one-year period through mid-May, despite the banking system facing a situation of liquidity flush.

Till mid-May, commercial banks were sitting atop deposits of Rs 796.7 billion, a hike of 23.64 percent since mid-May 2011, while development banks saw deposits surge by 26.78 percent to Rs 107.8 billion in the same period, latest Nepal Rastra Bank (NRB) report shows.

Source: Republica