Increase investment in rural areas: DPM Mahara

KATHMANDU: Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara has urged the Rastriya Banijya Bank to release loans for productive sectors in rural areas.

Speaking at a function organised on the occasion of the bank's 52nd anniversary in the Capital today, DPM Mahara suggested that the RBB should work to decentralise the economy centred in the urban areas and uplift the rural economy.

On the occasion, Mahara also informed that the Ministry of Finance was preparing to grant approval for the merger of the Nepal Industrial Development Corporation and the Rastriya Banijya Bank from the upcoming meeting of the Council of the Ministers.

The government had announced the merger between the two bodies in its previous budget speech.

Speaking at the same function, Nepal Rastra Bank Governor Chiranjibi Nepal shared that the central bank was preparing to take action against those banks arbitrarily releasing the loans and misusing the public deposit for profit.

He added that the NRB was closely monitoring functions of all the financial institutions.

The RBB CEO Kiran Kumar Shrestha shared information about financial status of the bank.

On the occasion, the RBB feted the bank employees who have served over 20 years in the bank.