Nepal Rastra Bank (NRB) has formed a task force to recommend comprehensive reforms and consolidation measures for the country’s banking sector.
Chaired by Dr Rebat Bahadur Karki, the task force includes former banker Bhuwan Kumar Dahal as a member and the Executive Director of NRB’s Banking and Financial Institutions Regulation Department as member-secretary. It has been given a one-month mandate.
The panel is tasked with suggesting measures for liberal yet prudent regulatory policies, risk-based effective supervision, and the development of customer-friendly banking services.
It will also explore ways to enhance credit flow in rural areas, promote mergers and acquisitions among banks and financial institutions, and define the sector’s role in supporting economic viability.
In addition, the task force will recommend strategies to help remove Nepal from the Financial Action Task Force (FATF) grey list and assess NRB’s coordinating role in capital market development, according to the NRB Governor’s Office.
