Chandragiri to deposit Rs 5,000 each in children’s account

KATHMANDU: Chandragiri municipality has decided to deposit Rs 5,000 each in the name of children from July 16.

The municipality is introducing such a program for the first time for educational, financial and social security of the children within its boundary.

The municipality has adopted a policy to collect the amount by opening a fixed account in the name of the children of the permanent residents of the municipality.

For this, birth registration of the children has been made mandatory. The municipality has also amended the Private Enterprise Promotion, Financial Assistance and Program Grant Operation Procedure, 2078 BS for the economic and social security of the children.

Chandragiri Municipality and NIC Asia Bank Limited have signed a bilateral agreement to operate the fixed accounts in the name of the children.

Mayor Ghanshyam Giri and Assistant Chief Executive Officer of the bank Arjun Raj Khaniya signed the agreement on behalf of their respective organizations.

As per the agreement, the maximum interest rate will be provided by opening an account with zero balance, the municipality shared.

On the occasion, Mayor Giri shared that the program is being implemented for the educational, economic and social security of children after 18 years of their age. “The deposits can ease the children after 18 years and for pursuing higher education or running a business”, he said, urging the parents to ensure some additional money to their children’s accounts.