Kathmandu. Insurance companies have invested more than Rs 650 billion in fixed deposits of banks and financial institutions.
According to the data released by the Nepal Rastra Bank (NRB) on Wednesday, the insurance companies (life, non-life, reinsurance, small life and small life) have invested Rs 644.41 billion in the fixed deposits of the banks. As of Last June, the investment of insurance companies was Rs 601.35 billion. It has increased by 7.2 percent as compared to Mid-March.
Similarly, the investment of employees’ provident fund in fixed deposits of banks declined by 5.5 percent to Rs 177.36 billion during the review period. The total investment of employees’ provident fund in banks stood at Rs 187.41 billion as of Mid-July last year.
Citizen Investment Fund’s investment in banks has increased by 12.5 percent to Rs 140.73 billion as of February 2018. As of Mid-July 2018, the citizen’s investment fund in banks stood at Rs 124.40 billion.
The size of individual deposits has also increased by 5.5 percent till mid-March 2018. As of Mid-July, the number of individual deposits in banks has increased from Rs 4,039.87 billion to Rs 4,262.17 billion at the end of the review period.
