Government to Prepare Finance Sector Development Strategy

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Government to Prepare Finance Sector Development Strategy

May 30: The government has said second phase of finance sector development strategy would be prepared in the upcoming fiscal year and brought into implementation.    
The budget has incorporated various issues including further strengthening government owned banks and financial institution by re-restructuring, facilitating access to capital for investment by reducing financial intermediary cost, strengthening regulation of financial sector by developing capacity of regulatory bodies, and promoting digital and mobile banking transaction.    
Similarly, Acts related financial sectors including Nepal Rastra Bank Act, Banks and Financial Institutions Act would be revised and amended.    
Likewise, programmes related to interest grants of concessional loan would be restructured.    
A total of Rs 115.9 billion has been allocated for interest grant of concessional loan while microfinance institutions should be forwarded as a specialized provincial institution.    
The budget would make arrangement for non-resident Nepalis to invest in hydropower projects enlisted in stock market. The government will also run programme to increase access to insurance at rural. -- RSS  

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