December 30: Bankers have accused that Nepal Rastra Bank has not been able to introduce stable policies.

During a virtual meeting organized by Nepal Bankers Association during its annual general meeting on Tuesday (December 29), representatives of the Confederation of Banks and Financial Institutions of Nepal (CBFIN) said that the multiple amendments of the provisions of the monetary policy by the central bank was not appropriate.

Speaking at the virtual meeting, CBFIN Chairman Pawan Golyan said that the central bank’s decision to fix the service charge of 0.75 percent just because some banks were charging high service charge was not fair. This, according to Golyan, has caused problems for the BFIs for micro management.

Meanwhile, Governor of Nepal Rastra Bank Maha Prasad Adhikari said that the current policy of the central bank are aimed at the welfare of the sectors affected by Covid-19 while other provisions  have not been changed in the current context.

“The central bank’s policies are aimed at revitalizing the economy that has been badly affected by coronavirus. Our policies also compliment the state’s objective of achieving 7 percent economic growth,” said Governor Adhikari.

He argued that the latest measures taken by the central bank to remove some anomalies should not be considered as a shift in Nepal Rastra Bank’s policy.

Governor Adhikari informed that the demand for loan was low during the start of the current fiscal year but the flow of loan and deposit collection has improved now.

The central bank’s governor also stressed that the banking system should now go digital.

Chairman of Nepal Bankers Association Bhuvan Kumar Dahal said that it would take some more time for the country’s economy to return back to normalcy but there is a silver lining as most of the sectors have already started operating at the moment.

Meanwhile, Nepal Bankers Association felicitated former governor of NRB and ex-chairman of Nabil Bank Sagyendra Pyara Shrestha during the AGM.