Nepal Bankers’ Association

The Nepal Bankers' Association, an organization of chief executive officers of commercial banks, has decided to suspend the opening of letter of credit (LC) for a week.

Commercial banks, which have been facing liquidity problems for a long time, have raised interest rates for the month of February.

Nepal Bankers' Association, the umbrella organization of the commercial banks, has said that cryptocurrency, virtual currency and the network marketing business and transactions are illegal.

Banks and financial institutions' liquidity has finally started to ease.

Finance Minister Janardan Sharma on Friday held a discussion with chief executive officers of 27 Group 'A' commercial banks on the problems facing the banks including a liquidity crunch and financial institutions and the solution needed.

The bankers have agreed to start full operations and provide all services as the prohibitory order in the valley has been eased

The Finance Ministry today held discussions with representatives of the private sector to implement the private sector related programmes that were announced in the budget for next fiscal year 2078/79

FeNeGoSiDA has stated that import of gold could be affected due to the prohibitory order imposed in Kathmandu valley and other major cities of the country.

Banks and financial institutions would remain open in Kathmandu Valley during prohibitory period imposed here from today.