Transform Nepal Bank into 21st century commercial bank, says Finance Minister
November 17, 2019 | Investopaper
Finance Minister Dr. Yuba Raj Khatiwada has called on all stakeholders to work with the sense of honesty, competition, and motivation to transform the Nepal Bank into the commercial bank of the 21st century. In his address to a ceremony held on the occasion of the Bank’s 83rd anniversary here today, the Minister said goals were achievable without greater efforts if the management and staff worked honestly and professionally.
He went on to say that the Bank which had been once in a crisis due to a negative capital fund and high bad debt arrived in this situation following the enforcement of the Nepal Bank Financial Area Sector and now had regained its reputation. “Now the Bank’s profit is satisfactory, has a positive capital fund and a less ratio of bad debt.”
He directed the people concerned not to play with people’s deposits and regulatory bodies to do the duty seriously. On the occasion, the Finance Minister inaugurated Nepal Bank’s museum and 18 branches and two ‘extension counters’ established at several parts of the country through a remote-control system.
Similarly, he awarded long-time serving employees and winners of several events organized on the occasion of the anniversary. Likewise, Deputy Governor Chintamani Shiwakoti advised the Bank to tighten organizational governance and increase loan disbursement, creating employment opportunities for rural people. Stressing that the Bank should be in a leading position, he urged the Bank to reach its services to those areas deprived of fiscal access.
He also took the time to advise the Bank to reduce the ratio of non-performing loans, increase the interest rates of deposits and minimize the interest for the loan. As he said, only competent and efficient human resources would provide a ground for the bank to make a stride towards financial progress.
The program was presided over by Bank chair Basudev Adhikari.
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