Bankers asks central bank to let them decide on additional service charges

Bankers have urged central bank to let them decide on either to charge additional service fees or not.

Nepal Bankers' Association (NBA) responding to the central bank's 14-point provision on draft proposal of Financial Consumer Protection and Financial Literacy guidelines said that they would themselves decide on additional service charges.

The bankers  – in their seven page suggestion – said that the cut in service charges will curb innovation as they have to regularly upgrade technology that needs huge investment.

The central bank on January 15 had brought the draft seeking the stakeholders feedback on service charges like charge on Any Branch Banking Services and opening and closing of accounts.
The bankers have instead asked the central bank to let them charge on bank statements of past years and bank account certification.

The bankers are, however, ready to simplify banking service, establish information and grievances hearing desk, maintaining customers' secrecy and protect data.