Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to provide banking services to customers affected by the recent Rasuwa floods by verifying their identities through signatures, photographs and other available details.
The central bank issued the directive to help customers who lost bank-related documents and other essential items during the floods, ensuring that they can continue to access financial services despite the loss of identification and banking materials.
Thousands of households have been affected by the disaster, which has caused widespread loss of life and extensive damage to private property, particularly in Nuwakot, Rasuwa and Dhading.
Under the new provision, BFIs can facilitate banking transactions by verifying customers using available signature samples, photographs and other relevant information. Banks have also been instructed to provide necessary assistance to customers who have lost cheques, bank cards, mobile phones and other banking-related documents in the floods.
Meanwhile, the NRB has relaxed regulations for microfinance financial institutions operating in flood-affected areas. Microfinance institutions will no longer be required to obtain prior approval from the central bank before resuming services from their branches or offices.
They have also been allowed to transfer services to nearby branches of other institutions or make other necessary operational adjustments based on local requirements. However, the concerned institutions must inform the NRB within seven days of making such changes.
The measures are aimed at ensuring uninterrupted access to essential financial services and supporting communities affected by the devastating floods.
