Newly appointed Governor of Nepal Rastra Bank (NRB), Dr Biswo Nath Poudel, assumed office on Wednesday, pledging to enhance the central bank's supervisory capacity and ensure the autonomy of the institution.

Speaking after taking charge at the NRB Central Office in Baluwatar, Governor Poudel emphasized the need to strengthen the regulation of banks and financial institutions rather than merely introducing new rules.

“We should not only devise rules and regulations. We should also scale up supervision and emphasize improving the quality of loans,” he said.

He also committed to aligning monetary policy with the government’s fiscal policy and ensuring stakeholder consultation in NRB’s decision-making process. “Policy-making should be based on dialogue. I am not in favour of imposing decisions unilaterally,” Poudel noted.

Highlighting depositor protection as a key priority, Governor Poudel said the central bank would work to safeguard public deposits in financial institutions.

Governor Poudel was administered the oath of office and secrecy by Chief Justice Prakashman Singh Raut. Following the ceremony, he paid a courtesy call on Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel.

In his first official act, the Governor signed a decision to proceed with the printing of Rs 500 and Rs 1,000 denomination banknotes.

Regarding the recent resignation of NRB Executive Director Dr Gunakar Bhatt, Poudel said it was an internal matter of the central bank. -- RSS