Only a few BFI branches to be operated from Thursday

KATHMANDU: Nepal Rastra Bank (NRB) has started distributing vehicle passes to the Banking and Financial Institutions.

According to NRB, it is distributing 20 passes for ‘A’ class Commercial Banks, 10 passes for ‘B’ class development banks, 8 passes for finance companies, and 5 passes for micro-finance institutions.

NRB has distributed additional passes to the BFIs to operate the institutions. After the government decided to scrap vehicle passes effective from Thursday, only a few branches will operate.

According to Ashok Sherchan, CEO of Prabhu Bank, only a few branches will operate from Thursday. He said, the number of branches to be operated from Thursday will be decided by the number of passes.