Nepal Rastra bank
(NRB) has warned Nepali Army
(NA) that big amount of its
Welfare Fund deposits with
various financial
institutions are at risk and
urged it to relocate such
deposits to relatively safer
places.
The Kantipur daily quoted a
highly placed government
source as saying that NRB
Governor Bijaya Nath
Bhattrai briefed army chief
Rookmangud Katawal that
aound two billion out of
five billion deposited by NA
in various financial
institutions is at risk due
to deteriorating condition
of those financial
institutions.
The NA has deposited Rs.
1.23 billion in different
development banks and an
additional Rs. 1.31 billion
in different finance
companies.
The paper also quoted
Director at the Directorate
of Public Relations of NA,
Anant Bahadur Thebe as
saying that the army is
watching the performance of
financial institutions that
have its deposits and is
committed to safeguarding
those deposits.
Read more about this NA
welfare deposits
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