Kathmandu. Banks can adjust their branches without the approval of Nepal Rastra Bank.
The central bank has amended the integrated directive issued in the name of banks and financial institutions to implement the provision brought by the central bank through the first review of the monetary policy. However, the central bank has put forward a condition for this.
As per the directive, banks and institutions cannot close or transfer or merge any type of office without prior approval of Nepal Rastra Bank. Through the revised directive, the banks and financial institutions can adjust the branches within the metropolis by deciding on their own in the following circumstances:
- In the case of a branch established targeting a government body or a public institution, the branch adjustment can be done only after the written consent of the organization.
- In the event of the merger of two or more branches, the customers of the merging branch will have to make an arrangement to repay the loan of the institution or stop other services without charging any kind of fees.
In the context of increasing e-payment transactions and significant number of branches of financial institutions, banks and financial institutions can merge or merge their branches in the metropolis.TAG_OPEN_li_17
{{TAG_OPEN_li_15} Prior to the adjustment of the branch, at least 90 (90) days’ notice should be published in the national level daily newspaper, the website of the concerned organization and the notice board of the branch.
The details should be submitted to the Rastra Bank within 3 working days of the adjustment.TAG_OPEN_li_13
(Explanation: Adjustment means the merger of two or more branches of a licensed institution to form a single branch.) )
