Kathmandu. Nepal Rastra Bank (NRB) Governor Bishwanath Poudel has said that banks should protect people’s property and money. Speaking at a meeting of the Finance Committee on Thursday, he said that rs 7 trillion in the banking system should not only be considered as one’s private property but also the source of the entire economy.
According to him, that amount should be protected. He said that anyone with good business thinking and entrepreneurship should be able to claim this resource. Governor Poudel raised questions about the nature of the bank’s license. According to him, if the license is eternal, then the barriers to market entry should be reduced to increase competition. Otherwise, a certain period of license should also be fixed, he said.
He said the time has come for banks to be ruthless in institutional governance. According to Governor Poudel, it is the authority of the people to get a loan from the Governor Bank of Nepal Rastra Bank. It must be established. He said that if someone has a good project, it is his natural right to get a loan.
Governor Poudel said, “Most of the licenses have a life span. But banks do not have a licensing age in a sense. We are not allowing new banks to come. In that sense, what is a bank license? The question is also being raised. For example, hydro licensecomes to the project in 30 years. The same goes for telecoms. But the bank does not. ’
Governor Poudel also said that rs 7 trillion in the banking system should be seen as public goods. According to him, the arrangements made in BAFIA have been brought keeping in mind the international practices. He said he was still ready for discussion and parliament has the right to take a decision.
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