MYAGDI, AUG 12, 2012
The Banks and Financial Institutions (BFIs) in Myagdi district have scaled up their investments in gold and silver loan, comparatively a safe investment sector for BFIs. Generally, gold is considered as a hedge against inflation.
The private and state-owned BFIs have invested a total of Rs 330 million as gold and silver loan, according to the banks' sources. Of them, the state-owned Nepal Bank Ltd has invested Rs 141 million, the highest amount of investment in gold and silver in the district.
Similarly, the Rastriya Banijya Bank (RBB) has invested Rs 140 million while Nilgiri Development Bank and Citizens Bank International have made Rs 50 million and Rs 5 million, respectively.
Chief Executive Officer of Nilgiri Development Bank Anuman Shrestha said that attraction to the gold and silver loan is on the rise for its security.
Banks said that they have problems to invest in the gold and silver loan against the Nepal Rastra Bank's (NRB) ceiling. The NRB has put a ceiling to the BFIs directing them not to invest more than 40 per cent under a single title.
Source: THT
The Banks and Financial Institutions (BFIs) in Myagdi district have scaled up their investments in gold and silver loan, comparatively a safe investment sector for BFIs. Generally, gold is considered as a hedge against inflation.
The private and state-owned BFIs have invested a total of Rs 330 million as gold and silver loan, according to the banks' sources. Of them, the state-owned Nepal Bank Ltd has invested Rs 141 million, the highest amount of investment in gold and silver in the district.
Similarly, the Rastriya Banijya Bank (RBB) has invested Rs 140 million while Nilgiri Development Bank and Citizens Bank International have made Rs 50 million and Rs 5 million, respectively.
Chief Executive Officer of Nilgiri Development Bank Anuman Shrestha said that attraction to the gold and silver loan is on the rise for its security.
Banks said that they have problems to invest in the gold and silver loan against the Nepal Rastra Bank's (NRB) ceiling. The NRB has put a ceiling to the BFIs directing them not to invest more than 40 per cent under a single title.
Source: THT
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