November 25: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari has said that the central bank is ready to address the barriers that startups and enterprises are facing in Nepal.
Addressing a function organized during the “Kumari Bank NewBiz Startup Summit & Awards 2021” on Thursday, NRB Governor Adhikari said that the central bank wants to encourage startups, not discourage them.
“If any regulation or rule has been posing barriers, let us know. Our role is to encourage you, not discourage you,” said NRB Governor Adhikari. “I appreciate the courage and conviction to become an entrepreneur and do business despite the challenges posed by the pandemic. I urge you not to give up your efforts even if you fail in one startup,” he said.
According to NRB Governor Adhikari, the central bank has automated the approval process of foreign investment without investors requiring to visit the banks to get the approval to bring investments.
“We have capped the premium on the interest rates of banks so that those businesses who do not have voices do not suffer from the rising cost of borrowing. That should not be interpreted as an initiative of the central bank to fix the interest rate,” he added.