Kathmandu. CPN(UML) lawmaker Surya Bahadur Thapa Chhetri has said that the bill, which is being prepared to be brought with the objective of reforming the banking and financial sector, has no sense of comprehensiveness.
Thapa said this while participating in a discussion with stakeholders regarding the bill to amend the Banks and Financial Institutions Act, 2073 BS in the meeting of the Finance Committee under the House of Representatives on Monday.
He stressed the need to pay attention to the situation where trillions of rupees are deposited in banks but there is no investment due to lack of laws. Lawmaker Thapa said that if the bill is made as mentioned in the draft by various experts, there should be a turmoil in such a way that there will be no negative turmoil in the economy.
He stressed the need for proper legal provisions at a time when there is a lot of liquidity in the bank and investment is not being made.
He said, “It is felt that the purpose with which the bill is being brought for the reform of the banking and financial sector is not comprehensive. Therefore, a question is whether this amendment is necessary in bafia’s 2073 Act if it is not to carry a theoretical concept. It would have been better if the experts had discussed the matter. Because its theoretical concept is coincidentally in the speech of former Finance Minister Barshaman Pun on the aims and reasons and the theoretical concept is in the book. Accordingly, there is a curiosity in the mind whether the issues put forward by the experts before and today are justified or not. ‘
He also raised the issue of discussion on whether bankers and industrialists should be the same person in the definition of related people. However, the former finance ministers concerned with this issue will clarify that the directors should be independent. Now you have to be ruthless in two or three things. According to friends of the organizations, this bill should be in turmoil. There was no negative turmoil. If the situation has been created due to the law, then you have to go that way. There is a lot of liquidity, but investment is not happening. Therefore, we have to pay attention to proper legal provisions,” he said.
He, however, said that experts should clarify that the bank directors should be independent.
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