January 21: Minister for Finance Dr Yuba Raj Khatiwada has taken an interest in the implementation of the concessional loan scheme introduced by the government.
Discussing the matter with the officials of Nepal Rastra Bank (NRB) and Nepal Bankers’ Association (NBA) at the Ministry of Finance on Monday (January 21), he instructed them to implement the loan scheme effectively and yield concrete results. He also stressed the role banks and financial institutions (BFIs) need to play in creating a favorable business atmosphere in the country.
The discussion was focused on the operation and regulation of BFIs and the implementation status of various orders and guidelines issued by NRB. Minister Khatiwada also discussed about the banks’ interest rate, service charge and other important topics.
The discussion also focused on the continuously high economic growth rate being achieved by the country in the last few years.
Minister Khatiwada also touched upon the various policies and programs being introduced by the government to encourage investments from the private sector. He also called on the banks to focus on their service delivery rather than only making profits. He also asked the banks to increase their investments in infrastructure development, address the issue of their interest rates and review their service charges.
He also ordered everyone involved to work towards creating an environment to make hedging services available from commercial banks, make the management of foreign currency efficient and effective and further strengthen the regulatory role of NRB by making it more modern and up-to-date. He also expressed the government’s commitment towards solving any policy-related issues and asked all the stakeholders to inform the government if they faced any problem.
All the participating officials pledged to work with the government in matters such as money laundering and liquidity management and in implementing government policies.