11 August 2024, Kathmandu
In a significant move aimed at enhancing financial services for educators, Nepal Bank Limited has agreed with the Nepal Police Headquarters and Welfare Division.
Banking Agreement Nepal Police
The formal agreement was signed by Prakash Kumar Adhikari, Chief Financial Officer of Nepal Bank, and Revati Dhakal, Senior Superintendent of Police, Welfare Division.
Under this new agreement, teachers and staff working in schools affiliated with Nepal Prahari will benefit from a range of banking services. They will have the opportunity to open salaried accounts with various facilities, including concessions on fees and access to unsecured loans, under the bank’s policies. This initiative is expected to provide much-needed financial support and convenience to the personnel within the Prahari educational network.
About Banking
Banking is a financial system that involves managing money, providing loans, and offering various financial services to individuals, businesses, and governments. Banks accept deposits, which they use to provide loans and credit to borrowers. They facilitate transactions such as deposits, withdrawals, and transfers, and offer services like savings accounts, checking accounts, and investment products. Banks play a crucial role in the economy by enabling efficient capital allocation, fostering economic growth, and ensuring financial stability. They are regulated by governmental authorities to maintain trust and protect consumers’ assets. Modern banking also includes digital services, enhancing convenience and accessibility for customers.
About Nepal Police
Nepal Police is the national law enforcement agency of Nepal, responsible for maintaining public order, enforcing laws, and ensuring the safety and security of citizens. Established in 1951, it operates under the Ministry of Home Affairs and is tasked with preventing and investigating crimes, managing traffic, and providing various community services. The force is organized into several units, including criminal investigation, traffic management, and special operations. Nepal Police is dedicated to upholding justice and protecting human rights, working to build a safer society through effective policing and community engagement. It also collaborates with other agencies and international organizations on various security issues.
Banking Agreement Nepal Police