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<p style="text-align: justify;">The strategy mentions proper mechanism will be built for adopting 'universal' banking by merging the banks with small investments. However, 'D' listed micro finance companies will remain as they are now.</p>
<p style="text-align: justify;">The strategy mentions of formulating a mechanism under which banking system will be directed towards universal banking providing support to achieve high economic growth. Meanwhile, NRB has already implemented merger and acquisition policy. Presently, the number of development banks and finance companies has come down due to merger and acquisition.</p>
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<p style="text-align: justify;">He said, "NRB has plans to maintain only commercial banks consecutively by merging other BFIs. However, 'D' listed finance companies will remain as they are." The central bank has set three different paid-up capital limits for three different types of BFIs.</p>
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<p style="text-align: justify;">The Financial Sector Development Strategic Paper (2017/18 -2021/22) covers the four strategic pillars of banking sector including investment for economic growth, financial accessibility and inclusion, financial stability and corporate governance.</p>
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<p style="text-align: justify;">The strategy mentions proper mechanism will be built for adopting 'universal' banking by merging the banks with small investments. However, 'D' listed micro finance companies will remain as they are now.</p>
<p style="text-align: justify;">The strategy mentions of formulating a mechanism under which banking system will be directed towards universal banking providing support to achieve high economic growth. Meanwhile, NRB has already implemented merger and acquisition policy. Presently, the number of development banks and finance companies has come down due to merger and acquisition.</p>
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<p style="text-align: justify;">He said, "NRB has plans to maintain only commercial banks consecutively by merging other BFIs. However, 'D' listed finance companies will remain as they are." The central bank has set three different paid-up capital limits for three different types of BFIs.</p>
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<p style="text-align: justify;">The strategy mentions proper mechanism will be built for adopting 'universal' banking by merging the banks with small investments. However, 'D' listed micro finance companies will remain as they are now.</p>
<p style="text-align: justify;">The strategy mentions of formulating a mechanism under which banking system will be directed towards universal banking providing support to achieve high economic growth. Meanwhile, NRB has already implemented merger and acquisition policy. Presently, the number of development banks and finance companies has come down due to merger and acquisition.</p>
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<p style="text-align: justify;">He said, "NRB has plans to maintain only commercial banks consecutively by merging other BFIs. However, 'D' listed finance companies will remain as they are." The central bank has set three different paid-up capital limits for three different types of BFIs.</p>
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<p style="text-align: justify;">He said, "NRB has plans to maintain only commercial banks consecutively by merging other BFIs. However, 'D' listed finance companies will remain as they are." The central bank has set three different paid-up capital limits for three different types of BFIs.</p>
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<p style="text-align: justify;">"The objective is to make the BFIs capable of handling big projects. The merger and acquisition policy adopted to increase paid-up capital will make the portfolio big, strong and permanent," he said.</p>
<p style="text-align: justify;">The Financial Sector Development Strategic Paper (2017/18 -2021/22) covers the four strategic pillars of banking sector including investment for economic growth, financial accessibility and inclusion, financial stability and corporate governance.</p>
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February 8: The government is preparing to transform all banks and financial institutions (BFIs) into commercial banks by the Fiscal Year 2021/22.
The Financial Sector Development Strategy approved by the Council of Ministers has made arrangement for the same. According to the mechanism, currently 'B' listed development banks and 'C' listed finance companies will be transformed into 'A' class commercial banks. The government formulated the policy in agreement with the Nepal Rastra Bank (NRB).
The strategy mentions proper mechanism will be built for adopting 'universal' banking by merging the banks with small investments. However, 'D' listed micro finance companies will remain as they are now.
The strategy mentions of formulating a mechanism under which banking system will be directed towards universal banking providing support to achieve high economic growth. Meanwhile, NRB has already implemented merger and acquisition policy. Presently, the number of development banks and finance companies has come down due to merger and acquisition.
"The main objective of encouraging merger and acquisition by the central bank is to eliminate 'B' and 'C'-listed BFIs," said Basanta Raj Pandey, Assistant Director of Bank Supervision Department of NRB.
He said, "NRB has plans to maintain only commercial banks consecutively by merging other BFIs. However, 'D' listed finance companies will remain as they are." The central bank has set three different paid-up capital limits for three different types of BFIs.
According to Pandey, if the BFIs are pressurized to transform into commercial banks simultaneously, the banking system may face trouble. Therefore, the policy of increasing paid-up capital was adopted. He informed that the NRB has targeted to keep only 15 commercial banks with huge paid-up capital in the country.
He said the commercial banks, however, are not ready to merge with each other. A source opined that it has been proved by the merger cancellation of NCC and Kumari Bank, and Janata Bank and Machhapuchchhre Bank even after obtaining letter of intent (LOI).
"The objective is to make the BFIs capable of handling big projects. The merger and acquisition policy adopted to increase paid-up capital will make the portfolio big, strong and permanent," he said.
The Financial Sector Development Strategic Paper (2017/18 -2021/22) covers the four strategic pillars of banking sector including investment for economic growth, financial accessibility and inclusion, financial stability and corporate governance.
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'title' => 'Government to transform all BFIs into Commercial Banks within 5 years',
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'summary' => 'February 8: The government is preparing to transform all banks and financial institutions (BFIs) into commercial banks by the Fiscal Year 2021/22.',
'content' => '<p style="text-align: justify;">February 8: The government is preparing to transform all banks and financial institutions (BFIs) into commercial banks by the Fiscal Year 2021/22.</p>
<p style="text-align: justify;">The Financial Sector Development Strategy approved by the Council of Ministers has made arrangement for the same. According to the mechanism, currently 'B' listed development banks and 'C' listed finance companies will be transformed into 'A' class commercial banks. The government formulated the policy in agreement with the Nepal Rastra Bank (NRB).</p>
<p style="text-align: justify;">The strategy mentions proper mechanism will be built for adopting 'universal' banking by merging the banks with small investments. However, 'D' listed micro finance companies will remain as they are now.</p>
<p style="text-align: justify;">The strategy mentions of formulating a mechanism under which banking system will be directed towards universal banking providing support to achieve high economic growth. Meanwhile, NRB has already implemented merger and acquisition policy. Presently, the number of development banks and finance companies has come down due to merger and acquisition.</p>
<p style="text-align: justify;">"The main objective of encouraging merger and acquisition by the central bank is to eliminate 'B' and 'C'-listed BFIs," said Basanta Raj Pandey, Assistant Director of Bank Supervision Department of NRB.</p>
<p style="text-align: justify;">He said, "NRB has plans to maintain only commercial banks consecutively by merging other BFIs. However, 'D' listed finance companies will remain as they are." The central bank has set three different paid-up capital limits for three different types of BFIs.</p>
<p style="text-align: justify;">According to Pandey, if the BFIs are pressurized to transform into commercial banks simultaneously, the banking system may face trouble. Therefore, the policy of increasing paid-up capital was adopted. He informed that the NRB has targeted to keep only 15 commercial banks with huge paid-up capital in the country.</p>
<p style="text-align: justify;">He said the commercial banks, however, are not ready to merge with each other. A source opined that it has been proved by the merger cancellation of NCC and Kumari Bank, and Janata Bank and Machhapuchchhre Bank even after obtaining letter of intent (LOI).</p>
<p style="text-align: justify;">"The objective is to make the BFIs capable of handling big projects. The merger and acquisition policy adopted to increase paid-up capital will make the portfolio big, strong and permanent," he said.</p>
<p style="text-align: justify;">The Financial Sector Development Strategic Paper (2017/18 -2021/22) covers the four strategic pillars of banking sector including investment for economic growth, financial accessibility and inclusion, financial stability and corporate governance.</p>
<p style="text-align: justify;"> </p>
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