KATHMANDU: Three organizations have claimed that misleading information is being spread on social media with the intent to weaken Nepal’s banking and financial sector, which plays a crucial role in the country’s economic development.
In a joint press release issued on Friday, the Development Bankers’ Association Nepal (DBAN) , Nepal Financial Institutions Association (NFIA) , and Nepal Microfinance Bankers’ Association (NMBA) highlighted this issue. They emphasized that the banking sector operates under the close supervision of the Nepal Rastra Bank (NRB) and adheres to strict regulatory policies and rules, publishing quarterly financial reports transparently to the public.
The press release stated that Nepal’s banking sector is not only transparent but also robust under regulatory oversight. “We assure the public that Nepal’s banks, financial institutions, and microfinance entities are resilient in managing risks and remain secure in the current environment,” the statement read.
These organizations have drawn attention to certain chaotic activities aimed at destabilizing the sector, including the dissemination of misleading and false statements on social media platforms using the names of various banks and financial institutions.
They assured the public that all deposits in banks and financial institutions are fully secure. Additionally, deposits up to Rs. 500,000 in savings and fixed deposit accounts held by individuals are insured through the Deposit and Credit Guarantee Fund , established by the Government of Nepal, as per directives from the Nepal Rastra Bank.
The organizations urged the public to disregard false and misleading comments circulating on social media and to rely solely on official communications from relevant authorities for accurate information. They also requested the public to verify news and updates only through authorized channels.