Nepal Rastra Bank and DCGC sign MoU

Kathmandu, April 20: Nepal Rastra Bank (NRB) and the Deposit and Credit Guarantee Corporation (DCGC) have signed an agreement to ensure the rights and welfare of the ordinary depositors maintaining the stability of the financial sector for the sustainable economic development.

Executive Director at the NRB’s Bank and Financial Institutions Regulatory Department Shivanath Pandey and DCGC general manager Dr Dandapani Poudel signed the agreement in the presence of Finance Ministry representative Under Secretary at the Ministry, Baikuntha Nidhi Sharma, the Corporation stated in a press release today.

It is expected that the agreement will contribute towards maintaining fiscal stability in the country by preempting the banks and financial institutions from bankruptcy due to the difficult situation in the country and timely addressing the risk.