Task force formed for BFIs reforms

By A Staff Reporter,Kathmandu, June 14: A three-member Banking Sector Reforms Recommendation Task Force has been formed coordinated by Dr. Rewat Bahadur Karki.

Nepal Rastra Bank has formed the task force to submit suggestions for the overall reform in the banking sector.

Former banker Bhuvan Dahal is a member and the Executive Director of the Banks and Financial Institutions Regulation Department of the Nepal Rastra Bank is the member secretary of the task force. 

Guru Prasad Paudel is currently the Executive Director of the Banks and Financial Institutions Regulation Department of the central bank.

Governor Dr. Biswo Nath Poudel on Friday handed over a letter of responsibility to the task force coordinator. 

According to the NRB, the task force has been given a mandate to submit suggestions focusing on six topics within a one-month period.

The task force will suggest on the development of banking policy regulation based on liberal but prudent risk, effective supervision, and customer-friendly banking services.

Likewise, it will offer suggestions on the role that the banking sector should play in making economic activities fully dynamic, steps to be taken to make credit flow effective in the rural areas, and solutions to problems arising from mergers and acquisitions of banks.

Similarly, it has been given the responsibility of making suggestions on the issue of freeing Nepal from the money laundering grey list and the central bank's coordinating role in capital market development.