Kathmandu. Governor of The Rastra Bank. Bishwanath Poudel is currently busy preparing the monetary policy for the fiscal year 2082/83 BS. Governor Poudel is on a field visit targeting the monetary policy.
The visit, which started from Pokhara on June 27, 2082, reached Dhangadhi and returned to Kathmandu on June 15. According to one of the members who participated in the visit, the team of Rastra Bank has returned after starting from Pokhara and reaching the west through the mid-hill highway.
During the visit, a team of The Rastra Bank had interacted with the citizens. A member of the visiting team said, “We entered from Pokhara and reached the west through the mid-hill highway. ”
Nepal Rastra Bank has its own office in Pokhara. Newly appointed Governor Poudel also visited the office. He also reached dhangadhi office. Dhangadhi office had organized an interaction program at Mangalsen. Governor Adhikari and rastra bank team listened to the loans of small and medium enterprises in the interaction program.
Economic activities around the mid-hill highway were observed as well as discussions were held with the local residents targeting the monetary policy.
Representatives of banks, financial institutions, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) met representatives of Confederation of Nepalese Industries (CNI) and sought their suggestions. Governor Poudel has already said that he would not adopt any policy to give surprise to industrialists and businessmen.
Governor Poudel, who stands in favor of an open economy, has reached the local level with suggestions from banks, borrowers, business associations, institutions and regional offices of the Rastra Bank. Governor Poudel has already made it public that he would focus more on supervision rather than regulation.
However, the Rastra Bank has formed a task force to suggest reforms in the banking sector. To submit suggestions for overall improvement and strengthening of the banking sector. A three-member taskforce has been formed with Rewat Bahadur Karki as coordinator, Bhuwan Kumar Dahal as member and Executive Director of Nepal Rastra Bank’s Banking and Financial Institution Regulation Department Guru Prasad Poudel as member secretary.
The task force has been given one month’s time. The taskforce has been asked to study the development of customer-friendly banking services, effective supervision based on risk, liberal but prudent in regulating banking policy.
It has been asked to study the role to be played by the banking sector in making economic activities fully operational and the steps to be taken to make credit flow effective in rural areas. It has been asked to study the merger and acquisition of banks and financial institutions and ways to identify and resolve the problems after that (merger and post merger) and the role to be played by the banking sector in removing Nepal from the ‘grey list’. It has also been asked to study the coordinating role of the central bank in capital market development.
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