Depositors be careful, cautions guv
Nepal Rastra Bank Governor Yubaraj Khatiwada on Wednesday urged depositors to be careful wile depositing their money. “The central bank can guarantee small deposits, as deposits worth up to Rs 200,000 are insured,” said the governor, addressing the 56 th anniversary of the central bank. “But big depositors should be sensitive.” Khatiwada also asked big depositors not to be tempted by high interest rates. Millions of rupees of institutional depositors such as Employees’ Provided Fund and Army Welfare Fund are at risk following the liquidation of Nepal Development Bank and Samjhana Finance Company. The governor said the foundation of the financial sector was not so strong because of the lack of proper financial knowledge among bank directors and investors. “Even the central bank has a limited human resources and does not have expertise for better supervision,” he said.
Posted on: 2011-04-28 08:06
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