Corona effected in the financial sector of Nepal, Banking Service also affected

Jan Tue 2022 01:58:04

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Corona effected in the financial sector of Nepal, Banking Service also affected

Kathmandu. Banking services have been affected after employees of the bank became infected with Corona virus (Covid-19). So far, corona infection has been confirmed in more than 6,000 employees of banks and financial institutions.

The Nepal Bankers' Association, an association of chief executive officers of commercial banks, has said that various branch offices of the bank had to be closed after the third wave of the epidemic infected many employees of the bank. According to the Bankers' Association, 142 branch offices of 17 commercial banks have been closed so far. Of these, 35 branch offices of NIC Asia Bank have been closed and 19 branches of Nabil Bank have been closed.

Similarly, 15 branch offices of Private Bank and 15 branch offices of Rastriya Banijya Bank are currently closed. Nine branches of Prabhu Bank, eight branches of Century Bank, seven branches of Civil Bank, seven branches of Mega Bank, six branches of Sunrise Bank and four branches of Global IME Bank have been closed. Similarly, 3 branch offices of Nepal Investment Bank, 3 branch offices of NMB Bank, 3 branch offices of Siddhartha Bank, 2 branch offices of Kumari Bank, 1 branch office of Nepal Bangladesh Bank and 2 branch offices of Machhapuchhre Bank are currently closed.

Apart from commercial banks, Corona has also had an impact on finance companies. The coronary heart disease has affected many employees due to corona infection. Offices of some finance companies have also been closed. Chairman of the Nepal Financial Institutions Association Saroj Kaji Tuladhar says that the employees of the financial institutions are more infected in the current variant than the first and second variants of Kovid 19 epidemic. He also claimed that the flow of services was not affected even though financial institutions were closed.

Meanwhile, the Corona epidemic has also affected the deposits of commercial banks. Deposits of commercial banks have decreased by Rs. 13 billion as compared to mid-December last year. According to the Nepal Bankers Association, the total deposits of commercial banks have been limited to Rs 4.311 trillion as of Monday. As of mid-December last year, the deposits of commercial banks stood at Rs. 43.24 trillion.