People should pay back the loans received from banks: Neelam Dhungana

Acting Governor of Nepal Rastra Bank Neelam Dhungana said that the problems currently witnessed in the banking sector is the reflection of overall economic crisis facing the country. “There is a tendency among some people not to pay back the loans they received from the bank, which needs to be discouraged,” she pointed out. Speaking at a policy discussion on the theme “Current situation, challenges and future roadmap of the banking sector” organized by Female Economic Journalists Association in Kathmandu on Sunday acting Governor Dhungana expressed the hope that the country will soon get rid of the ongoing economic crisis as most of the economic indicators have now turned positive. The positive results of the monetary policy adopted by the central bank has started coming out, she pointed out. We cannot expect improvements in the conditions of the banking and financial sector unless there is some positive changes in the country’s economic scenario, pointed out Manoj Gyawali, Deputy Chief Executive Officer of Nabil Bank. He expressed the view that the central bank should play an effective role in maintaining financial stability as well as having a stable bank rate.

Om Kumari Malla, President of Federation of National Cooperatives, said that most of the cooperatives are facing problems due to lack of repayment of loans. She underscored the need for an effective regulatory body for the smooth functioning of cooperatives mainly those involved in savings and credit services.

Executive director of Nepal Rastra Bank Prakash Kumar Shrestha has advised the local, provincial as well as central governments to purchase indigenously produced goods so as to promote Nepalese industries. Effective monetary and fiscal policies are required to maintain economic stability of the country as well as nurture economic growth, he pointed out.

President of FEJA Sharmila Thakuri chaired the day long discussion programme organized in collaboration with Nabil Bank. Fiscal polcy and monetary policy, cyber security in banking sector and challenges facing women journalists in economic reporting are some of the topics discussed during panel discussion during the programme.