Kathmandu. The Bank and Financial Institutions Regulation Department under the Nepal Rastra Bank (NRB) has directed the banks and financial institutions (BFIs) to formulate an action plan to reduce the number of non-active accounts they have by mid-January 2083.

Nepal Rastra Bank (NRB) has directed the ‘A’ class commercial banks, ‘B’ class development banks and ‘C’ class finance companies to amend and revise the Integrated Directive-2082 issued on Friday to reduce the number of non-performing accounts.

NRB has also asked the banks and financial institutions to inform the customers regularly through phone, SMS, and email before their active bank accounts are deactivated.

Similarly, the licensed banks and financial institutions should also request the customers through phone, SMS, and email at least six months in order to activate their inactive accounts.

The integrated directive issued by the Rastra Bank states that customers should be able to close the accounts of the licensed banks and financial institutions through any branch office or mobile or web application of the concerned institution across the country.

If the Rastra Bank requests to close the account of the customer in the presence of the customer or through mobile or web application, the account should be closed by transferring the amount to his/her account in another bank or financial institution requested.

Nepal Rastra Bank (NRB) has also issued a directive to identify customers from any branch office of the licensed banks and financial institutions across the country and make arrangements for easy reactivation of their accounts. Nepal Rastra Bank (NRB) has also urged banks and financial institutions (BFIs) to develop a monitoring system to monitor the unnatural transactions in the accounts of the banks and financial institutions that have remained dormant and re-operated.