February 21:  Nepal Rastra Bank (NRB) has assured that the money deposited in banks are safe. The central bank made such a remark following rumors that banks are going bankrupt and the money deposited in banks are at high risk, which the NRB has termed as baseless.

Issuing a notice on Tuesday, the NRB urged the general public not to be influenced by rumors spread by groups with vested interest to mislead the people about the financial health of the banking sector.    

The central bank has urged the investors, depositors, clients and stakeholders to confidently continue banking transactions.    

The NRB also stated that its serious attention has been drawn towards the misleading statements and misinformation given by some individuals and groups regarding the stability of the banks and financial institutions (BFIs). The NRB assured that the BFIs are operating under the direct supervision of the central bank by abiding to the regulations.    

This is the first time that the regulatory body made its views public regarding the issue after the misinformation spread by various groups and individuals with vested interest started affecting the public’s trust towards the banking sector.

The notice further states that the NRB has been strictly monitoring the transactions of BFIs and assured that the money deposited by the general public is not under any risk.

The latest reports show that the banking sector is in sound health and under strict supervision of the central bank, reads the notice.

The central bank also urged the investors not to believe in rumors spread to discredit a sensitive sector like the banking sector.

The central bank also mentioned that the banking sector is the backbone of the country's economy and the NRB is carrying out monitoring and supervision of the banks on a regular basis to maintain stability of the BFIs and to promote public trust.