KATHMANDU: Nepal Rastra Bank (NRB) has directed banks and financial institutions to prepare and implement an action plan to reduce the number of inactive accounts by the end of December.
The directive was issued on Friday through a revised Integrated Directive, 2026, by the NRB’s Bank and Financial Institution Regulation Department. It applies to Class ‘A’ commercial banks, Class ‘B’ development banks and Class ‘C’ finance companies.
Under the revised provision, banks must regularly notify customers through phone calls, SMS, email or other appropriate means before an account becomes inactive.
Financial institutions have also been instructed to contact customers at least once every six months via phone, SMS or email to encourage the reactivation of inactive accounts. They are required to maintain records of such communications.
The central bank has further directed banks to allow customers to close their accounts from any branch across the country or through mobile and web applications.
If a customer requests account closure either in person at a branch or through digital platforms, the remaining balance must be transferred to another account owned by the customer at any bank or financial institution before the account is closed.
In addition, banks must enable customers to reactivate inactive accounts from any branch nationwide after verifying their identity.
The NRB has also instructed banks and financial institutions to develop effective systems to monitor unusual transactions in reactivated inactive accounts.
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