An agreement has been reached between the National Reconstruction Authority (NRA) and three bankers' associations regarding the distribution of the grant amount the government is providing for construction of private houses damaged by earthquake.
The bankers associations that reached an agreement with the NRS include Nepal Bankers Association, the Development Bankers Association and the Financial Institutions Association, which represent the A, B and C class banks and financial institutions respectively.
As per the 21-point agreement, the NRA will send the name list of the beneficiaries endorsed by the Authority's executive committee to the designated banks and financial institutions by electronic means while the banks and financial institutions shall open collective bank accounts in the name of the beneficiaries.
NRA spokesman Ram Prasad Thapaliya said arrangement has been made for providing free transaction service on the transactions carried out through the minimum 50 accounts in the beneficiaries' names by the bank branches located at the district headquarters and minimum 20 accounts in the beneficiaries' names by the bank branches located in places outside the district headquarters in a day.
He added that as per the agreement a provision has been made by which the concerned bank would be paid an allowance of Rs 225 per beneficiary while distributing the first installment grant amount to the beneficiaries exceeding the number of minimum transactions mentioned above.