Nepal Rastra Bank (NRB) has formed a high-level task force to assess the current state of the banking sector and recommend reforms aimed at strengthening and consolidating financial institutions.
The task force is chaired by Dr. Rewat Bahadur Karki and includes former banker Bhuwan Kumar Dahal as a key member. The Executive Director of NRB's Banks and Financial Institutions Regulation Department will serve as the member-secretary.
According to the state-run RSS news agency, the task force is mandated to submit its recommendations within a month. Its focus areas include the liberal yet prudent banking regulatory framework, risk-based and effective supervisory mechanisms, and customer-friendly banking services.
In addition, the task force will explore the role of the banking sector in promoting viable economic activities, enhancing credit access in rural areas, and facilitating mergers and acquisitions among banks and financial institutions.
The NRB Governor’s Office also said that the panel will propose strategies to help remove Nepal from the Financial Action Task Force (FATF) grey list and offer recommendations on how the central bank can support the development of the capital market.
RSS
