Sunday, November 1, 2020

Central bank governor asks the BFIs to protect Covid-hit businesses

 Central bank governor Maha Prasad Adhikari directed the banks and financial institutions to be supportive in practical implementation of the monetary policy.

At a virtual interaction organised by the central bank today, governor Adhikari directed banks and financial institutions not to issue threats to industrialists and entrepreneurs facing problems due to coronavirus about blacklisting them. He also asked the banks and financial institutions to provide relief to entrepreneurs facing problems due to Covid-19 and not to pile pressure.

Informing that the central bank is ready to revise the policy in case of some gaps in time of implementation, he said that the central bank is a facilitator rather than regulator in these hard times, and working on to provide relief to businesses facing problems due to Covid-19.

The Covid-19 has created a situation where entrepreneurs are on the verge of closing their businesses, he said, adding that the banking and financial institutions must act as facilitator. “We have been thinking that the central bank should safeguard entrepreneurs and industrialists.”

The central bank has provided facility of Rs 200 billion and Rs 148 billion will flow through banks and financial institutions, Adhikari added.

Likewise, finance secretary Shishir Kumar Dhungana, on the occasion, informed that the government has been making possible aid to support the private sector by resolving problems seen in the economy through budgetary and monetary policies.

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) senior Vice-president Shekhar Golchha, chairperson of Nepal Banker’s Association Bhuwan Dahal and other participants on the occasion stressed on the need to resolve problems.

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