Kathmandu, March 30 -- Following the new government's first Cabinet meeting held on Friday, which prioritised the mobilisation of idle financial resources through a 100-point agenda, the government's plan to transfer funds from decade-old dormant bank accounts into the state treasury has hit a significant legal bottleneck.

Under the current legal framework, the government cannot transfer funds from citizens' private bank accounts into the state treasury. Even for accounts inactive for over 20 years-where funds are moved to the Banking Development Fund at the Nepal Rastra Bank (NRB)-provisions exist to refund the money if a rightful claimant comes forward.

Protocols governing long-term dormant accounts are set out in the Bank and Financi...