Money
BFIs struggle to deliver uninterrupted service
Banks and financial institutions (BFIs) here are finding it hard to deliver services due to extended power outage hours and fuel shortages.Shankar Acharya
Banks and financial institutions (BFIs) here are finding it hard to deliver services due to extended power outage hours and fuel shortages.
The BFIs said they were finding it hard to deliver even basic services like deposit collection and cheque payments as keeping their systems running for a longer period became difficult after load shedding was extended to 13 hours a day. And amid fuel shortages, they have not been able to run power generators.
“Operating our computer systems for uninterrupted service has become difficult,” said Manish Acharya, branch manager of United Finance. “We do not get enough diesel to run generators, while inverters do not offer longer back-up.”
Many of the BFIs have limited their services to deposit collection and money transfer. “Some of the BFIs have closed their branches, while others remain open only for a few hours,” said Bibek Kalwar, an accountant at a private firm.
Regional Manager of Nepal Investment Bank Ratna Kumar Limbu said most of the BFIs were facing severe power crisis. “The problem is we do not have any alternative,” he said, adding the fuel made available by the local administration was not enough. “The local administration should increase the quantity of fuel being provided after the hike load shedding hours,” he said.
During the prolonged banda, some BFIs here had offered services like deposit collection and cheque payments placing a desk at their main gates. Most of them offered the facility from 10am to 12pm.
More than one and half dozen banks are providing services in Birgunj and most of them are based at Adarsanagar. About five dozen financial institutions, including development banks and finance companies, are active in this commercial city. Besides, there are around two dozen cooperatives.
Due to prolonged banda and embargo, tasks such as opening letter of credit, TT and draft have largely halted.