CBFIN demands that those involved in anarchic activities against BFIs be prosecuted

KATHMANDU: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has demanded that action be taken against those engaging in anarchic activities against the banks and financial institutions (BFIs).

The CBFIN said that planned incidents like attacks and robberies on bank employees have left the banking sector in shock and turmoil.

The confederation has said that threatening not to pay back bank loans, non-payment of interest, disorderly, impractical and chaotic activities in banking services is reprehensible.

The confederation said that most of the countries from the most developed countries to the developing countries are facing challenges like liquidity, rising interest rate and inflation.

The confederation has made it clear that interest rates are determined by issues such as national/international market conditions, adequacy of liquidity, demand and supply of credit etc.

The confederation has requested that strict instructions be issued to prevent reprehensible acts like assaulting bank employees. The CBFIN has said that in the current complex situation, the interest rate issue is being exaggerated and that it is unfortunate to target the BFIs for the rise in the interest rate.

It has demanded that BFI s be allowed to provide banking services, which are the lifeblood of the economy, in a fear-free environment.