Saturday, June 28, 2025
  • Webmail
  • Contact Us
  • About BBS
  • Privacy & Policy
ENG
DZO
BBSCL Logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
Radio Live
No Result
View All Result
BBSCL logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
No Result
View All Result
BBSCL logo
Radio LIVE

Pandemic prompts saving habits among Bhutanese

October 31, 2021
in Health
Reading Time: 2 mins read
0
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter

If you have been saving your money lately, then you are among hundreds and thousands of others who are managing the income in better ways. In the recent past, people in the country have been saving – a little more compared to years before. Most banks in the country have reported more than a 20 percent increase in deposits over the past more than one year – an unusual surge in years. 

From about Nu 46 bn in 2018, the Bank of Bhutan (BoB) reported a deposit of Nu 80 bn as of September this year. The annual increase in the past would be less than 10 percent but last year, it saw an unusual increase of 31 percent.

According to the General Manager of the bank’s head office, Dorji Wangchuk, people who get salaries have been opening various bank accounts (recurring, term deposits, and recurring deposits) which improved the figure.

Similarly, the Bhutan National Bank (BNB) also reported over 20 percent growth in the deposit since the pandemic began The bank reported a whopping increase of Nu 46 bn in September this year from Nu 29 bn in 2017.

“Saving culture hasn’t been popular in the past, but after the pandemic, people might have realized the need for money during emergencies, there has been a drastic increase in savings,” said Hem Kumar Acharya, the Chief Operating Officer of the bank’s head office.

He said that no banks in the country would have witnessed such a drastic increase in savings in a particular year.

According to the State of Financial Inclusion Report 2020, bank account holders have also increased by over eight percent last year compared to the previous years. It might as well be due to improved saving culture among the less-educated people.

Gap Sithu, a resident in Thimphu, said that he started saving in his recurring account as he is not educated and doesn’t have an ATM card. “I have a recurring account in which I deposit Nu 1000. I use it whenever I am in need, otherwise, I don’t.”

According to the banks, the sudden shift in the saving culture among Bhutanese could be due to easy access to banking services, a shift in spending habits, and the realisation of the need for money during emergencies.

The pandemic has been a hard blow to many, but if it is one thing that has come as a lesson, it has taught people the value of saving.

Samten Dolkar

Edited by Chayku

Previous Post

High-altitude rice cultivation, a success story in Gaytsa

Next Post

Pledges made by the world leaders so far come nowhere to halving emissions by 2030: LDCs

Next Post

Pledges made by the world leaders so far come nowhere to halving emissions by 2030: LDCs

Nanong Primary Health Centre without an ambulance for more than a year

Jomotshangkha lacks proper waste disposal facility

Please login to join discussion

RECOMMENDED NEWS

PM meets Secretary General of ICAO

13 years ago
1

Damaged boys’ hostel to be repaired soon

15 years ago
1
Fire in Monggar destroys acres of forest

Fire in Monggar destroys acres of forest

10 years ago
1
More than 1400 graduates pass civil service exams, RCSC announces only 923 seats

More than 1400 graduates pass civil service exams, RCSC announces only 923 seats

2 years ago
32

BROWSE BY CATEGORIES

  • Accidents (14)
  • Agriculture (439)
  • Announcement (179)
  • Audience Survey Report (1)
  • Business (759)
  • Crime/Legal (370)
  • Culture (48)
  • Development (57)
  • Disaster (57)
  • Economy (289)
  • Education (419)
  • Entertainment (16)
  • Environment (66)
  • Feature (65)
  • Featured (6)
  • Festival (81)
  • GMC (14)
  • Headlines (5)
  • Health (630)
  • Legal (53)
  • Literature (9)
  • Livestock (76)
  • Media (26)
  • Other Stories (5,687)
  • Politics (419)
  • RCSC (1)
  • Recent stories (6)
  • Religion (45)
  • Sci/Tech (712)
  • Social (548)
  • Sports (456)
  • Technology (191)
  • Tourism (22)
  • Uncategorized (13,868)
  • Video (141)
  • Video Story (257)
  • Wildlife (42)

BROWSE BY TOPICS

Tender Announcement Vacancy Announcement

POPULAR NEWS

  • BPC’s investigation rules out transformer short circuit as Damchhu forest fire cause

    Viral video of Bhutanese man assaulted by locals and police in Jaigaon sparks safety concerns

    0 shares
    Share 0 Tweet 0
  • Gelephu Mindfulness City opens recruitment drive for Bhutanese professionals

    0 shares
    Share 0 Tweet 0
  • A centenarian’s recipe to longevity

    0 shares
    Share 0 Tweet 0
  • 40 companies risk closure over failure to submit financial reports

    0 shares
    Share 0 Tweet 0
  • Post-mortem confirms foul play: Progress in investigation of 24-year-old woman’s death

    0 shares
    Share 0 Tweet 0
BBSCL

Bhutan Broadcasting Service (BBS) is Bhutan’s primary national broadcaster, delivering diverse news and entertainment in multiple languages, fostering cultural understanding and public knowledge.

Follow us on social media:

Recent News

  • Lead exposure may be contributing to high anaemia levels among children in Bhutan
  • MoIT imposes moratorium on issuance of taxi driving licence
  • Book on temples and monasteries of Trongsa’s Drakteng wins Dzongkha Booker Prize
  • Shumar Cheden Tshephel Detshen becomes self-reliant with own milk processing unit
  • Fire risk from phones at fuel depot low but never non-existent

News Category

  • Accidents
  • Agriculture
  • Announcement
  • Audience Survey Report
  • Business
  • Crime/Legal
  • Culture
  • Development
  • Disaster
  • Economy
  • Education
  • Entertainment
  • Environment
  • Feature
  • Featured
  • Festival
  • GMC
  • Headlines
  • Health
  • Legal
  • Literature
  • Livestock
  • Media
  • Other Stories
  • Politics
  • RCSC
  • Recent stories
  • Religion
  • Sci/Tech
  • Social
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • Video
  • Video Story
  • Wildlife
  • Webmail
  • Contact Us
  • About BBS
  • Privacy & Policy

© 2024 BBSCL. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule

© 2024 BBSCL. All rights reserved.