Nepal Rastra Bank Forms Task Force to Strengthen Banking Sector
KATHMANDU: Nepal Rastra Bank (NRB) has constituted a three-member task force under the leadership of Dr Rewat Bahadur Karki to recommend measures aimed at reforming and fortifying the country’s banking sector.
The task force includes former banker Bhuwan Kumar Dahal as a member, while the Executive Director of the Bank and Financial Institution Regulation Department at NRB will serve as the member secretary. The panel has been tasked with submitting its report within one month.
According to NRB, the task force will focus on proposing liberal yet prudent banking policies, enhancing regulatory supervision, and promoting customer-friendly banking services.
In addition, the team is expected to recommend strategies to revitalise economic activity through improved credit flow in rural areas, and to provide guidance on managing mergers and acquisitions of banks and financial institutions.
The task force has also been asked to address challenges currently facing the banking sector and offer actionable solutions. Furthermore, it will provide recommendations on how the sector can contribute to removing Nepal from the Financial Action Task Force (FATF) greylist. The panel will also advise on the central bank’s role in coordinating the development of the capital market.
