Kathmandu, February 19:

Finance Minister Dr Baburam Bhattarai today promised to take action against the wilful loan defaulters at any cost.

During an inspection visit to the Rastriya Banijya Bank (RBB) central office in Singhdurbar Plaza, he also urged the bank to invest in small and medium entreprises (SMEs) as most of the loans to the big parties are in default. He also asked the bank’s officials to firmly

engage in the bad loan recovering process.

Dr Bhattarai directed the management and employees of the bank to contribute to the economic development of the country through concerted efforts to foster the rural and agricultural economy.

Welcoming the finance minister, RBB chief executive officer Janardan Acharya hailed the government’s recent decision to publish the list of 339 defaulters. He also presented the report of the bank on the occasion.

Acting revenue secretary and RBB chairman Krishnahari Banskota said that the bank would advance its activity by keeping people at the centre of its objectives. CEO Acharya said the bank has been in profit and modernised over the years.

DGM Krishna Prasad Sharma spoke about industrial relations in the bank. Department chiefs were also present on the occasion.