BFIs can utilise CSR budget for causes of those affected during Gen Z movement
Summary
Nepal Rastra Bank allows banks and financial institutions to use CSR funds to support those injured and families of martyrs from the Gen Z demonstrations, including medical and skill development assistance.
Key Points
- Nepal Rastra Bank amended CSR guidelines to aid victims of the Gen Z demonstrations.
- Banks and financial institutions can allocate CSR funds for medical expenses of injured individuals from underprivileged backgrounds.
- CSR budget can support skill enhancement training for families of martyrs without direct employment.
- One percent of net profit must be allocated by banks and financial institutions for social welfare initiatives.
