KATHMANDU: Nepal Rastra Bank (NRB) has formed a task force under the coordination of Dr. Rewat Bahadur Karki to provide recommendations for comprehensive reform and strengthening of the banking sector.
The three-member task force includes former banker Bhuwan Kumar Dahal and the Executive Director of NRB’s Banking and Financial Institutions Regulation Department, who will serve as the member secretary. The task force has been given a one-month mandate.
Its responsibilities include recommending ways to make banking policy regulation more liberal yet prudent, promoting risk-based effective supervision, and enhancing customer-friendly banking services.
Additionally, the task force has been asked to suggest the banking sector’s role in revitalizing economic activity, improving credit flow in rural areas, facilitating bank mergers and acquisitions, and identifying and resolving issues that arise from such processes.
The Governor’s Office also stated that the task force will provide input on how the banking sector can help Nepal exit the Financial Action Task Force (FATF) grey list and advise on the central bank’s role in the development of the capital market.
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