Kathmandu, April 26
Depositors have started withdrawing money from banks as the date of local elections is near.
As a result, the bank has lost Rs 10 billion in the previous seven days alone.
According to the Nepal Bankers Association’s latest report, Rs 10 billion was taken from 27 commercial banks between April 15 and 22. In just two days the preceding week, such deposits had surpassed Rs 12 billion.
According to the Bankers’ Association report, only Rs. 43.67 trillion has been deposited in 27 commercial banks as of April 22.
However, when deposits fell, banks cut back on lending somewhat throughout the review
period, according to the group. According to the organization, banks that had invested Rs 4.195 trillion in the previous week by decreasing their investment by Rs 2 billion had invested Rs 4.194 trillion by cutting their credit by another Rs 1 billion last week.
