NRB Allows Banks to CSR Funds to Support Victims of Gen-Z Demonstrations

New building of Nepal Rastra Bank posted on the central bank's Facebook page.

Banks and financial institutions are now allowed to allocate their Corporate Social Responsibility (CSR) budgets to support those affected by the Gen Z demonstrations held on September 8–9.

The Nepal Rastra Bank (NRB) enabled this through the second amendment to the CSR Guidelines for Banks and Financial Institutions – 2081 BS. The amendment permits CSR funds to assist the injured and the families of those who lost their lives during the demonstrations.

Read: Nepal Rastra Bank Tightens Rules on CSR Fund Spending

Under the CSR policy, banks and financial institutions must allocate one percent of their net profit to social welfare initiatives. Following the amendment, these funds can cover medical expenses of injured individuals from underprivileged backgrounds receiving treatment in government hospitals. CSR funds can also be used to enhance the income-generating capacity of martyr families without direct employment, through skills training provided by government-approved institutions.

Read: Supreme Court Resets CSR Mandate

Earlier, NRB had introduced stricter regulations on CSR fund usage. In a directive issued in late August, the central bank instructed that CSR allocations must focus on priority sectors, with poverty alleviation as the primary goal. This followed a Supreme Court directive emphasizing accountability in CSR spending. The court ruled that CSR funds must directly support poverty reduction initiatives and should not be diverted to unrelated areas.

In line with the court’s ruling, NRB amended the CSR Guidelines, explicitly requiring that CSR funds contribute to the welfare and upliftment of the poor, disadvantaged, and targeted groups.

Read: Supreme Court Orders Spending CSR Funds only for the Welfare of the Poor

 

 

Write a Comment

Comments

No comments yet.

scroll top