8th February 2025, Kathmandu
Nepal’s banking and financial institutions are crucial to the nation’s economic development. These institutions operate under the strict supervision of Nepal Rastra Bank (NRB).
Nepal Bank Deposits Safe
They follow transparent practices and publish quarterly financial statements to ensure accountability. The sector adheres to international standards, including the Basel Accords, and follows NRB’s policies.
Banks Operating Securely
The country’s banks, financial institutions, and microfinance organizations are well-equipped to handle risks. They are secure and stable. These institutions are committed to maintaining a strong financial system and ensuring public trust.
Addressing Social Media Rumors
Recently, misleading information has been circulating on social media. The rumors involve false claims about banks’ stability and safety. The banking sector has responded by confirming that deposits are completely safe.
Government Insurance Guarantees Deposits
Deposits up to Rs. 500,000 in savings and fixed deposit accounts are insured through the Deposit and Credit Guarantee Corporation (DCGC). This corporation, created by the government, ensures the safety of depositors’ funds. The insurance policy applies to individual depositors, in line with NRB’s regulations.
Call for Public Caution
Banking officials urge the public not to believe these false claims. They emphasize relying only on information from official sources like Nepal Rastra Bank and the financial institutions themselves. Authorities have also been urged to take action against those who spread rumors and create unnecessary panic.
Legal Action Against Rumor Spreaders
The banking sector has called on government agencies to take immediate action. They are asking for justice for those responsible for spreading misinformation. These individuals are undermining the stability of the sector and misleading the public.
Gratitude to Public and Media Support
The banking sector appreciates the public’s ongoing trust and cooperation. Officials also thanked the media for sharing accurate information with the public. The banking sector remains committed to improving its services and strengthening security measures to protect customers.
Commitment to Future Growth
The sector reassures all stakeholders that it will continue working towards the betterment of the financial system. With solid governance, transparency, and continued oversight, Nepal’s banking sector is poised to meet future challenges.
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