Himalayan News Service

Kathmandu, January 14:

Office bearers of central committee of Nepal Financial Organisation Employees Association (NFOEA) at a press meet organised in the capital today said that the foreign management at the Rastriya Banijya Bank (RBB) has failed to bring results as per the agreement signed. The foreign management, which has taken responsibility for the proper management of manpower, recovery of loans, introduce better investment policies and improve the deposit structure of the bank is in doldrums, said Padma Kumar Devkota, general secretary of NFOEA. Restructuring the bank needs sustainable policies and strategic planning which is not seen with the people who have undertaken the management of Rastriya Banijya Bank, said Devkota.

Terming the foreign management as ‘white elephant’ Devkota said that the management has failed to decrease the percentage of non-performing loans. Shiva Ram Poudel, president of NFOEA urged for transparency in management. “Only few the high-level officers are informed about the policies of the management, while foreign consultants are invading the bank,” he said. Nepal Rastra Bank, the government, International Monetary Fund and World Bank all should monitor the activities of the management, Poudel added.