KATHMANDU: Deputy Governor of Nepal Rastra Bank, Bam Bahadur Mishra, stated that the flexible provisions of the current monetary policy have contributed to the gradual improvement of the economy.
Speaking at an interaction titled “Work Direction of Monetary Policy: Loan Expansion and Auto Business,” organized by the Economic Media Association Nepal during the NADA Auto Show 2024 in the capital today, Mishra noted that the monetary policy was intentionally made flexible to facilitate economic recovery through regulatory reforms.
“Banks and financial institutions have experienced an increase in liquidity. Both the automobile and stock markets are gradually becoming more active,” Mishra said, adding that the monetary policy provisions are contributing to the rise in the stock market.
He also mentioned that the NRB is making policy efforts to promote the use of electric vehicles.
Sunil KC, President of the Nepal Bankers Association, pledged cooperation in initiatives aimed at promoting electric vehicles and developing an eco-friendly transportation system.
Upendra Paudel, President of the Confederation of Banks and Financial Institutions Nepal, emphasized the need to make the automobile industry more productive and to promote e-vehicles to reduce the import of petroleum products and utilize domestic energy.
Karan Kumar Chaudhary, President of the Nepal Automobiles’ Association, assured that the expansion of charging station facilities will meet consumer demand.
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