BFIs can utilise CSR budget for causes of those affected during Gen Z movement
Summary
Nepal Rastra Bank has amended CSR guidelines allowing banks and financial institutions to use CSR funds to support those affected by the Gen Z demonstrations, including medical aid and skills training for injured individuals and martyr families.
Key Points
- Nepal Rastra Bank amended CSR Guidelines for Banks and Financial Institutions – 2081 BS to allow CSR funds to support victims of Gen Z demonstrations.
- Banks and financial institutions can allocate CSR budget to cover medical expenses for injured from underprivileged backgrounds treated in government hospitals.
- CSR funds can also support income-generating skills training for martyr families without direct employment.
- Banks are required to allocate one percent of their net profit towards social welfare initiatives under the CSR policy.
