KATHMANDU, NOVEMBER 1

Governor of Nepal Rastra Bank Maha Prasad Adhikari has said that meaningful support was necessary for practical implementation of this year’s monetary policy.

At a visual interaction programme organised by the NRB today, Governor Adhikari added, “We are ready to revise the policy in case of some gaps in time of implementation.”

Saying that the central bank has been presenting itself as a facilitator rather than a regulatory body to provide relief to businesses facing problems due to COVID-19, Adhikari urged banks, financial institutions and entrepreneurs to adopt the same sentiments and aspirations.

The NRB governor opined, “COVID has created a situation where entrepreneurs are on the verge of closing their businesses. We presented ourselves as facilitator rather than a regulatory body. We have been thinking that the central bank should safeguard entrepreneurs and industrialists.”He further said NRB had made a provision of Rs 200 billion for refinancing and added that Rs 148 billion of the amount would flow through banks and financial institutions.

Governor Adhikari also directed banks and financial institutions not to issue threats to industrialists and entrepreneurs facing problems due to coronavirus about blacklisting them.

Furthermore, Adhikari asked the banks and financial institutions to provide relief to entrepreneurs facing problems due to COVID-19 and not to pile pressure.

Similarly, Finance Secretary Shishir Kumar Dhungana expressed the view that the government had been making possible aid to support the private sector by resolving problems seen in the economy through budgetary and monetary policies. Likewise, Senior Vice-president of Federation of Nepalese Chambers of Commerce and Industry Shekhar Golchha, Chairperson of Nepal Banker’s Association Bhuwan Dahal and others stressed the need to resolve problems.