KATHMANDU, July 10: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari on Sunday urged the private sector including banks not to seek individual profit at a time when the country faces challenges due to poor performance of the macroeconomic indicators owing to external factors along with a liquidity crisis in the banking sector.
Speaking at an interaction organized by the Federation of Nepalese Chambers of Commerce and Industry, NRB Governor Adhikari said the central bank is introducing the monetary policy for the next fiscal year to address the ongoing economic problems rather than to benefit individual organizations. “NRB is quite clear and firm on devising the monetary policy accordingly ,” he said.
Monetary policy cannot have all the tools to solve all economic...
Adhikari said NRB had adopted a flexible monetary policy to give respite to private benefits at maximum during the impacts of the COVID 19. “However, citing the current situation, the facilities may be removed for some while they could be continued for others,” he said.
Adhikari added that the central bank is facilitating business outlets to use point of sale (POS) card machines in the main tourist areas and Nepal-India borders. “It will help Indian visitors to carry out transactions in the Indian Currency,” he said.
