Kathmandu: The Governor of the Nepal Rastra Bank (NRB), Maha Prasad Adhikari, has said that meaningful support was necessary for practical implementation of this year’s monetary policy.
At a visual interaction programme organized by the NRB on Sunday, 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 felicitator rather than a regulatory body to provide relief to businesses facing problems due to Covid-19, Adhikari urged the banks, financial institutions and entrepreneurs to adopt the same sentiments and aspirations.
The NRB Governor opined, “Covid-19 has created a situation where entrepreneurs are to close their businesses. We presented ourselves as the facilitator rather than the regulatory body.
We have been thinking that the central bank should safeguard the entrepreneurs and industrialists.” He further said that the NRB has made a provision of Rs 200 billion for refinancing adding that Rs 148 billion of the amount will flow through banks and financial institutions.
Governor Adhikari also directed the banks and financial institutions not to issue threats to industrialists and entrepreneurs facing problems due to coronavirus for putting them in blacklist.
Furthermore, Adhikari asked the banks and financial institutions to provide relief to the entrepreneurs facing problems due to Covid-19 and not to put them under pressure.
Similarly, Finance Secretary Shishir Kumar Dhungana expressed the view that the government has been making possible support to support the private sector by resolving problems surfaced in economy through budget and monetary policies.
Likewise, Senior Vice-President of Federation of Nepalis Chambers of Commerce and Industry Shekhar Golchha, Chairperson of Nepal Banker’s Association Bhuwan Dahal and others stressed the need of resolving the problems seen in the economy through practical implementation of monetary policy.
