Depositors seek assurance

KATHMANDU, July 2:

Bank and Financial Institution Depositors’ Association asked Nepal Rastra Bank (NRB) to secure deposits collected by the financial institutions that are facing central bank’s action.

The association has asked the governor to publish the accounts of the money recovered from the directors who have been proven guilty and recover the loans floated by the management and board themselves.

Likewise, they have also requested the central bank to start returning the deposits to depositors in proportion of the deposits held at troubled Nepal Share Markets, and Capital Merchant Banking and Finance as soon as possible.

The association had held a sit-in at the NRB central office on Thursday, calling for improvement in financial institutions and asking the assurance of the safety of depositors’ money. Governor Dr Yubaraj Khatiwada assured the depositors that the central bank is conducting a cash planning of those financial institutions which are under NRB’s probe to return their deposits.

Source: THT