Nepal Government Plans to Transfer Dormant Bank Account Funds to State Treasury
The Nepalese government is preparing to transfer funds from bank accounts dormant for over 10 years to the state treasury. Currently, about NPR 188 billion is held in such inactive accounts. The plan requires completing legal formalities and amending regulations before implementation. Account holders can reactivate their accounts by updating KYC through banks or online platforms. This move aims to mobilize stagnant funds but will not immediately impact everyday investors' liquidity.
- Govt to claim dormant bank funds after 10 years, totaling NPR 188 billion, mobilizing inactive assets.
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The Nepalese government is preparing to transfer funds from bank accounts dormant for over 10 years to the state treasury. Currently, about NPR 188 billion is held in such inactive accounts. The plan requires completing legal formalities and amending regulations before implementation. Account holders can reactivate their accounts by updating KYC through banks or online platforms. This move aims to mobilize stagnant funds but will not immediately impact everyday investors' liquidity.
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