Monetary policy's flexible provisions improve economy-Deputy Governor

Kathmandu, Sept 1: Deputy Governor at the Nepal Rastra Bank Bam Bahadur Mishra claimed flexible provisions of the monetary policy has resulted in gradual improvement in economy.     

At an interaction 'Work Direction of Monetary Policy: Loan Expansion and Auto Business', organized by the Economic Media Association Nepal on the occasion of NADA Auto Show, 2024 in the capital today, he said the work direction of the monetary policy was deliberately made flexible and the economy was gradually turning functional with reforms in regulatory provisions.     

"Banks and financial institutions have witnessed increasing volume of liquidity. The automobile and stock market have gradually turned functional", Mishra said, claiming that monetary policy provisions were contributing to the ise in stock market.     

Deputy Governor Mishra said the NRB is making policy efforts to promote the use of electric vehicles.     

Similarly, Nepal Bankers Association's President Sunil KC promised cooperation in measures aiming to promote electric vehicles and an eco-friendly transport system.     

President of the Confederation of Banks and Financial Institutions Nepal, Upendra Paudel stressed the need to make automobile business productive and promote e-vehicles to reduce the import of petroleum products and to consume domestic energy.     

Nepal Automobiles' Association of Nepal's President Karan Kumar Chaudhary promised to expand the facility of charging stations as per the demand of consumers. (RSS)