Kathmandu. Insurance companies’ investment in fixed deposits of banks and financial institutions has increased by 10 percent. Nepal Rastra Bank (NRB) has released the fiscal year 2019/20. This has been seen from the data of 82.
During the review period, insurance companies (life, non-life, reinsurance, micro-life and micro-life) invested Rs 663.42 billion in fixed deposits of banks and financial institutions. The previous fiscal year 2080. The investment of insurance companies in 1981 was Rs 601.35 billion. In the last one year, the investment made by insurance companies in fixed deposits of banks has increased by 10.3 percent.
Similarly, during the review period, the investment of banks in the form of fixed deposits of employees’ provident fund decreased by 2.8 percent to Rs 182.22 billion. In the previous fiscal year, the total investment of employees’ provident fund in banks was Rs 187.41 billion.
Citizen Investment Fund’s investment in banks increased by 7.3 percent to Rs 133.48 billion in the review year. In the previous fiscal year, the citizen’s investment fund in banks stood at Rs 124.40 billion.
The size of personal deposits has also increased by 12.9 percent in the last financial year. In the last fiscal year, the number of individual deposits in banks increased from Rs 4,039.87 billion to Rs 4,560.13 billion in the review year.
It has been made mandatory to fix the interest rate on institutional fixed deposits by reducing the interest rate on individual fixed deposits by only 1 percent.
