NA’s Rs 490 M Under Risk


Feb. 6, 2011, 5:45 p.m. Published in Magazine Issue: Vol.:04 No.-16 Feb. 04, 2011 (Magh 21,2067)<BR>

About Rs 490 million of the welfare fund deposited by the Nepali Army (NA) in various banks are said to be under risk. According to Brigadier General Purna Chandra Thapa, director of the Welfare Directorate, the amount are under risk because of the bad financial condition of the banks and financial institutions where they have been deposited. The fund collects money by cutting certain portion of resources from regular salary of the NA personnel posted in UN missions overseas. In the wake of reports that huge amount of NA’s welfare fund was in risk, the army has made the latest figure public through a press meet. Brig Gen Thapa said that Rs 170 million deposited in Nepal Development Bank, Rs 150 million in Nepal Sri Lanka Merchant Bank, Rs 70 million in United Development Bank, Rs 70 million in Amarawati Credit Cooperative and Rs 10 million in Samjhana Finance Company are under risk. He said that the Army was working to retrieve the amount safely.


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