KATHMANDU, Sept 2: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide banking services to customers by verifying their signatures and photographs, in a move aimed primarily at easing access to financial services for victims of the Rasuwa floods.
Issuing a public notice, the central bank directed BFIs to facilitate banking services for customers who have lost their bank-related documents in the recent floods.
Thousands of households have been affected by the Rasuwa floods. The government has recovered more than 1,100 bodies, while around 4,000 people are still reported missing.
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Government records have put the preliminary number of damaged private houses at more than 7,570 across several districts. Nuwakot, Rasuwa and Dhading have suffered the most damage, with 3,977 houses damaged in Nuwakot, 3,451 in Dhading and 1,779 in Rasuwa.
In view of the severity of the situation, the central bank has introduced provisions to ensure easy access to banking transactions for flood-affected customers. Under the provision, BFIs can facilitate transactions by verifying customers through their signature samples, photographs and other available details.
The NRB has instructed BFIs to provide necessary assistance to customers who have lost checks, cards, mobile phones and other documents in the floods.
Meanwhile, the NRB has removed the requirement for microfinance financial institutions to obtain prior approval from the central bank before resuming services from branches or offices in flood-affected areas.
The central bank has also allowed microfinance institutions to transfer their services to nearby branches of other institutions or make other necessary adjustments at their own discretion. However, they must inform the NRB within seven days of transferring or adjusting their branches.
