“Government Permits 60% of Local-Level Funds as Bank Deposits”


 

The government is planning to allow 60 percent of the funds accumulated at the local level to be recognized as deposits. The Ministry of Finance has made this decision and is set to send a letter to the Nepal Rastra Bank on Friday. The Nepal Rastra Bank, starting today, is preparing to issue directives that will enable banks to consider 60 percent of the funds held at the local level as deposits.

In the month of Asar, there was approximately 1 kharba 10 Arba in the reserve fund at the local level, with 66 percent of that amount totaling about 66 arba. As a result of this decision, it is anticipated that deposits in commercial banks will increase by more than 60 arba. This move aims to boost the liquidity and financial stability of local governments and commercial banks.

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