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Nepal Rastra Bank Eases Branch Relocation Rules for Disaster-Hit Microfinance Firms

Nepal Rastra Bank has introduced a special provision allowing disaster-affected microfinance institutions to relocate or merge branches without prior approval.

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Nepal Rastra Bank Eases Branch Relocation Rules for Disaster-Hit Microfinance Firms

Nepal Rastra Bank has provided special relief to Class ‘D’ licensed microfinance financial institutions affected by natural disasters. By amending its Unified Directive, 2082, the central bank has allowed microfinance institutions operating in areas affected by the natural disasters of Bhadra 2083, including Rasuwa, to relocate damaged or difficult-to-operate branches without obtaining prior approval from the central bank. Institutions can relocate an affected branch or merge it with a nearby branch on their own decision to ensure continuity of financial services. However, they must notify Nepal Rastra Bank within seven days of the relocation or merger. The new provision aims to reduce procedural delays and ensure uninterrupted financial services during emergencies.

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