CSR activities of banks centralized to Bagmati Province: NRB Study

KATHMANDU: A study conducted by Nepal Rastra Bank (NRB) has shown that the CSR activities of banks have been centralized to Bagmati Province and have not been equally distributed to other provinces.

Commercial banks have been found spending more than two-third of funds (67 percent) for CSR in Bagmati Province.

The central bank has made it mandatory for commercial banks to spend a minimum of 10 percent of the CSR amount in each province. However, except Bagmati Province, less than 10 percent CSR amount has been spent in other provinces in the fiscal year 2076/77.

Among the seven provinces, the banks have spent the least amount in Karnali Province (3.56 percent of CSR).

Prakash Kumar Shrestha, executive director of NRB said that CSR distribution of banks is seen prioritizing the Bagmati province only and that the uneven distribution of CSR fund among provinces will be checked.

Fiscal Nepal |
Wednesday August 4, 2021, 03:24:19 PM |

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