Role of banking sector to stable economy is tremendous: Governor Adhikari

By TRN Online, Kathmandu, Nov.9: Maha Prasad Adhikari, Governor of Nepal Rastra Bank (NRB), said that the internal and external sectors of the economy are positive. 

Addressing the 39th general meeting and conference of the Asian Bankers Association on Thursday in Kathmandu, Governor Adhikari said that even after facing the impact of the financial crisis of 2008 and two worldwide issues, COVID-19 and Russia-Ukraine war and multiple earthquakes, Nepal’s economy is standing in stable ground.

He said, “Even though many economies were shutting down because of the impact of COVID-19 in banking and industry business, the policy of NRB made it possible to revive the economy.”

Governor Adhikari said that with a collaborative effort from the financial sector and NRB, the economy that was on shaky ground has recovered. 

He said that the economy could be saved from crisis due to the international merger policy and regulation of the NRB. He said that the banking system of Nepal is secure as it has passed various hurdles. 

He lauded the work of the banks of Nepal for their commendable work in recovering the economy. 

He said that the banking sector of the world market is facing a great challenge currently. 

The inflation is going up and prices of the items are going up. The banking sector has played an important role in capital formation and financial access is increasing in South Asia.