Study on provisions related to blacklisting individuals underway: NRB

Birgunj (Parsa), March 12: Nepal Rastra Bank (NRB) Governor Dr Biswo Nath Paudel said the central bank is carrying out a study on the provision related to blacklist while making financial transactions. 

At a programme here today, Dr Paudel informed that he was seriously studying the provision of putting people on the blacklist.

 "We are also studying the matter of putting people on blacklist immediately after check bounce," he said, adding, "We are focusing on how to shorten the list of those who will be blacklisted."

It has been observed that many people who have taken loans from banks and financial institutions or have bounced checks fall on the blacklist," he said, adding, "We are looking into how many people should be on blacklist and how many should not be on it. I am examining this at length." 

Governor Paudel also mentioned that the country cannot function properly just by imposing strict measures or imprisonment, not only for trade/business. 

"Running a business is not just about completing college education. To ensure it becomes a proper business, one has to face various hurdles and difficulties, and it is necessary to take steps to organize it properly," he said. 

"It is also necessary to recognize that the country's development cannot occur simply by abusing businesspeople. Therefore, promoting businesspeople is important."

On a different context, the NRB Governor said that the Central Bank has been adopting the policy of encouraging the information and technology industry based on digital technology. He stated that the information and technology sector has been kept in priority also because it is a sector carrying huge future possibilities.

"We expect that information technology industries will also grow significantly in the future. We have also been urging banks and financial institutions to move towards digitalization," he added.

Governor Paudel mentioned that although there used to be enough photo studios, vehicle workshops and garage centres in Birgunj in the past, they are gradually decreasing now.

‘‘Currently, most businesses are advancing by adopting digital platforms. Therefore, it has become essential for entrepreneurs and businesses to also transform themselves towards new directions,’’ he said, adding that it is time to move forward by preparing a digital strategy for the business in line with the times. "Surely, you must have been paying attention to that area as well.’’

He claimed that a favourable environment has also been created for Nepalese IT companies to invest in foreign countries. (RSS)