Kathmandu. Banks and financial institutions have allocated Rs 8.21 billion as bonus to the employees. Under the Employees Bonus Provision, commercial banks alone have made provision of Rs. 157 billion while development banks and finance companies have Rs. 1 billion.

According to the data released by Nepal Rastra Bank till April 30, 2078 BS, commercial banks, national level development banks and finance companies have made provision of bonus for their employees. As of April, only 24 out of 27 commercial banks have Rs 7.24 billion in such employee bonus provision. Such amount was Rs. 6.33 billion in April, 2077 BS.

Nepal Commercial Bank, Mega Bank and Century Bank are the three commercial banks that do not provide bonus provision to their employees. It has been found that these three banks have sent only other details to the NRB without making provision in the data made public in April last year.

According to NRB spokesperson Dev Kumar Dhakal, the provision of bonus for the employees of the banks is based on the profit made by the institution concerned. An organization that has made a profit till April may also go into loss when the data of May and June is made public. If the organization can distribute the profit by making a profit, it may or may not keep the loss. In case of profit of the organization, the profit can be distributed as per the provision given by the Bonus Act.