Recent political turmoil will affect the banking sector: Governor Adhikari

KATHMANDU: Governor of the Nepal Rastra Bank (NRB) Maha Prasad Adjikari said that recent political turmoil and instability is expected to affect country’s banking settor.

Addressing the annual general meeting of Nepal Bankers’ Association (NBA) today, Adhikari suggested that the banking sector should move ahead in a precautionary manner as the banking sector would be affected by the recent political changes.

Similarly, Adhikari complained that the bankers and stakeholders have misunderstood the policy taken by the state and the concession given by the central bank even in difficult circumstances of the COVID pandemic. He said that the corrective action taken by NRB to revive the economy should not be misunderstood.

He also said that NRB will not manage bank by using micro-management while using monetary instruments. He also suggested banks to make necessary preparations for the merger and acquisition saying that the central bank is always open to facilitate them.