Central bank unveils second five–year 'Strategic Plan'

Nepal Rastra Bank (NRB) needs to be responsive to face challenges created by global integration, financial volatility and uncertainty in the international markets,” according to the central bank governor Dr Yuba Raj Khatiwada.Launching the second five- year 'Strategic Plan' for next five years starting from 2012 to 2016, he highlighted the importance of the ‘Strategic Plan’ and urged all officials to implement the plan adopting proper integration, synergy and coordination among the departments.The ‘Strategic Plan’ guides the central bank for the next five years. The strategic priorities, objectives and action plans are clustered into seven pillars; macroeconomic stability, financial sector stability, foreign exchange management, payment system and mechanisms, human resources management and capacity development, infrastructure development, corporate governance and customer services, and information and communications technology.
“In this complex environment, attaining the objectives of financial stability and macroeconomic stability is a growing challenge for the central bank,” he said, adding that there is a need for formulating annual programmes and allocating budget in line with the ‘Strategic Plan’ to serve the financial market and contribute in achieving the objectives enshrined in the NRB Act.
Senior deputy governor Gopal Prasad Kaphle praised the work done by the NRB officials involved in bringing out the plan and urged them to be proactive while implementing it. Similarly, deputy governor Maha Prasad Adhikari noted that the plan is an outcome of consultative process involving the Board members, stakeholders and senior officials of the central bank and their contributions must be recognised.
“Now the challenge is to ensure that all tasks are carried out as planned for which all officials are expected to work together,” Adhikari said.