DHANGADHI, JUN 17 -
Entrepreneurs in the Far Western Development Region have complained that the banks here are collecting deposits but not making proportionate investments. There are 22 banks in the region with a combined deposit collection of Rs. 1 billion yearly.

Two years ago there were only four banks in Dhangadhi. Last year, Sunrise Bank, Siddhartha Bank, Citizens Bank, Investment Bank, KIST Bank, Global Bank, Machhapuchchhre Bank, Merchant Bank and NCC Bank opened branches in Dhangadhi joining the branch offices of Nabil Bank, Everest Bank, Bank of Kathmandu, Nepal Bank Limited, Nepal Banijya Bank, Agricultural Development Bank and Malika Development Bank. Speaking at the inaugural ceremony of Himalayan Bank's branch in Dhangadhi, entrepreneur Gopi Hamal said that the banks should invest their deposits in the region too. "Small and medium enterprises in this region are in great need of credit," he added.

Financial expert and former general manager of Nava Jeevan, Mohan Raj Bhatta, said, "The banks are opening branches in Dhangadhi following a survey which revealed that more than 70 percent of the money in this region remained idle without being invested.

Entrepreneur Ganesh Bhandari said that the banks had not invested even 50 percent of the deposits collected from Dhangadhi. He urged the banks to hire employees and invest locally.

All the banks in Dhangadhi are offering different schemes and an annual interest of 12.5 percent on fixed deposits to attract customers.

Posted on: 2010-06-18 08:33

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