Kathmandu. Microfinance financial institutions will be able to relocate or adjust their branches in flood-affected areas.
The Nepal Rastra Bank (NRB) has amended the Integrated Directive issued for microfinance institutions and added this provision. According to the amended provision, microfinance institutions will be able to relocate or adjust their branches in flood-affected areas.
Along with this, microfinance institutions do not have to take prior approval from the Rastra Bank to transfer or adjust branches in flood-affected areas. However, the Rastra Bank will have to inform the microfinance institution within 7 days of the transfer or adjustment of the branch.
