PM underscores need of reviewing problems seen in financial institutes

Kathmandu / Mar. 19: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said that a comprehensive review meeting will be called soon to address the problems surfaced in the Banks, micro finances and cooperatives in a package.

Addressing the meeting of National Cooperatives Development Board in Singh Durbar today, PM Prachanda pointed out the need of monitoring and regulation of the financial organisations.

“At one time, micro finances were said to be doing good jobs, particularly in rural areas. But, now people have raised multiple questions regarding micro finances. Problems are seen even in the cooperatives. Therefore, a comprehensive review meeting of all these is necessary to formulate future policies,” said the PM.

I am thinking about calling an extensive review meeting of the banks, micro finances and cooperatives so as to identify the problems in the sector and solve them, he said.

On the occasions, PM Prachanda emphasized that the Board should hold regular monitoring and facilitation to settle the problems of the cooperatives sector.