Nepal Rastra Bank (NRB) has recently issued a notice regarding the investment of gratuity and pension funds in fixed deposits. The notice has been addressed to licensed banks and financial institutions, who are required to invest the funds in the gratuity and pension fund.
According to the notice, the banks and financial institutions must write down the amount they wish to take as fixed deposits and the interest rate proposed to take the said amount within the given conditions and limits. They must then send the Anusuchi-5 Form to the NRB. The notice further states that the banks and financial institutions should mention the amount they want to take as fixed deposits for 366 days from 1st Chaitra 2079 to 1st Chaitra 2080 out of the total investable amount. The deadline for submitting the form is 7:00 pm on 19th Falgun 2079.
The NRB has allocated a total of 148 million rupees for 'A' class commercial banks, 27.775 million rupees for 'B' class national level development banks, and 92 lakh 50 thousand rupees for 'C' class national level financial companies. The notice also mentions that a total amount of eighteen million and fifty million rupees has been allocated for investment.
This move by the NRB is expected to help banks and financial institutions invest in a more secure and stable manner, while also ensuring that the gratuity and pension funds are invested appropriately. The notice has been welcomed by the banking and financial sector, who are expected to respond to the notice and invest the funds accordingly.
Published by Nepal Rastra Bank on 2079-11-17
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