In Brief: BFIs Sign Banking Agreement with NRA

Banks sign agreement with NRA

June 15, 2016. More than 50 BFIs (banking and financial institutions) with a presence in the earthquake-affected districts of Nepal have signed service agreements with the National Reconstruction Administration (NRA) to participate in the distribution of housing grants to beneficiaries.

Physical banks will be used in the first phase followed by branchless banking channels. This is an important milestone in facilitating the payment of housing grants to beneficiaries in rural Nepal.