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April 24: Governor of the Nepal Rastra Bank (NRB) Dr Chiranjibi Nepal has said that country’s financial laws will be made stricter in the coming days. “The financial sector is mobilised as per international standard. Thus, the regulatory mechanism will be made tougher,” he said. “Therefore, BFIs need to adopt timely modernisation.”
Inaugurating the central office of Tribeni Development Bank on Saturday, Governor Nepal stated, “The first duty of BFIs is to secure deposits of general public. In order to fulfil the obligations towards their depositors, BFIs needs to be strengthened themselves.” He suggested BFIs to increase paid-up capital as soon as possible through mergers or bringing foreign investments. Meanwhile, Kishor Maharjan, Vice-Chairman of Bankers’ Association mentioned that the excess liquidity in financial market has been decreasing since the last two and a half months. He added, “The level of liquidity might further decline in coming days. As a result, interest rates may rise.”
Tribeni Development Bank has officially opened its central office at Thapathali, Kathmandu. Earlier, the bank was headquartered at Bharatpur of Chitwan. Tribeni Development Bank is the result of the merger between Public Development Bank, Bright Development Bank and Trebeni Development Bank. After the merger, Trebeni Development Bank has become a national level development bank.
At present, the bank has Rs 820 million in paid-up capital and its deposits have totalled Rs 8.47 billion. Similarly, the bank’s loan has amounted to Rs 6.31 billion. The bank is serving its customers through 22 branches, six limited banking units and two extension counters. Likewise, the bank has started operation of four ATMs. In a bid to provide modern banking services, the bank is providing services such as balance inquiry, funds transfer, cheque book request, mini statements, telephone and mobile-bill payments and payments of on-line purchases through E-Sewa.
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<p>Inaugurating the central office of Tribeni Development Bank on Saturday, Governor Nepal stated, “The first duty of BFIs is to secure deposits of general public. In order to fulfil the obligations towards their depositors, BFIs needs to be strengthened themselves.” He suggested BFIs to increase paid-up capital as soon as possible through mergers or bringing foreign investments. Meanwhile, Kishor Maharjan, Vice-Chairman of Bankers’ Association mentioned that the excess liquidity in financial market has been decreasing since the last two and a half months. He added, “The level of liquidity might further decline in coming days. As a result, interest rates may rise.”</p>
<p>Tribeni Development Bank has officially opened its central office at Thapathali, Kathmandu. Earlier, the bank was headquartered at Bharatpur of Chitwan. Tribeni Development Bank is the result of the merger between Public Development Bank, Bright Development Bank and Trebeni Development Bank. After the merger, Trebeni Development Bank has become a national level development bank.</p>
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