BFIs are now also allowed tapping into CSR fund for the treatment of employees infected with COVID-19
KATHMANDU, Sept 11: Bank and financial institutions (BFIs) will now be required to spend five percent of their total fund for the corporate social responsibility on financial literacy.
Making amendment on the Unified Directives 2076, Nepal Rastra Bank (NRB) has made it mandatory for BFIs to spend 5 percent of their CSR fund on financial literacy related programs.
“Bank and financial institutions (BFIs) will have to spend 5 percent of their total CSR fund on various programs and targeted training programs related to financial literacy to make women and socially backward groups financially literate and increase their access to finance,” read the amendment made to the Unified Directives.
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