Claim settlement of Credit Guarantee Fund surge by 59 pc

Kathmandu: The Deposit and Credit Guarantee Fund(DCGF) has significantly increased its securities fee income by 50 percent till the second quarter of the current Fiscal Year.

With the increase in security fee (insurance fee) income, the security income and claim payment have increased by 50 and 59 percent respectively. As per the unrevised financial statement published by the fund, the security fee of Rs.1.59 billion has been collected by mid-January. As of mid-January of the last fiscal year, the security fee of Rs.1.15 billion had been collected. The income of the DCGF has also increased due to an increase in the term and credit investment of banks and financial institutions.

In the first six months of the current Fiscal Year, the Fund has spent Rs.102.13 million against claim settlement and operating expenses. As of mid-December last year, the claims and operating expenses of Rs. 64.09 million had been incurred.

The DCGF has earned interest income of Rs. 672.99 million by the end of the second quarter from fixed deposits made in various financial institutions. Interest income has increased by 17 percent compared to the previous year.

Comment Your Feedback :

Related News