Commercial banks to import 250 kg of gold

Kathmandu: Banks are preparing to import additional 250 kg of gold. With the increasing demand of gold, the banks are preparing to bring gold.

Last week, the banks imported 50 kg of gold. Till now, banks have deposits of 150 kg of gold. During the lockdown, 150 kg gold was sold in 10 days.  Anil Sharma, CEO of Nepal Bankers’ Association (NBA), said that they are not sure about the quantity of gold they need at this time.

The banks have decided to import 250 kg of gold so that they won’t face any shortage even if the demands becomes high. Only commercial banks in Nepal are allowed to import gold. Gold dealers are required to purchase gold from the banks.