Newly appointed NRB Governor Dr Poudel assumes office; says Central bank will secure citizens’ deposits

Kathmandu / May 21: Newly appointed Governor of Nepal Rastra Bank (NRB), Dr Biswo Nath Poudel, has taken up office today.

Assuming his office at NRB Central Office at Baluwatar, Governor Dr Poudel reaffirmed his commitment to prioritize supervision of banks and financial sector.

The new Governor asserted, “We should not only devise rules and regulations. We should also scale up supervision (of banks and financial institutions). We should emphasize enhancing quality of loans as well.”

He pledged to adopt the monetary measures that would facilitate smooth implementation of the government’s fiscal policy. He assured of holding consultative meetings with various stakeholders while deciding the NRB’s policies.

The new Governor also vowed to deliver in accordance with the Nepal Rastra Bank Act to maintain the NRB’s autonomy during his tenure.

The new Governor of the country’s Central Bank was administered the oath of office and secrecy by the Chief Justice Prakashman Singh Raut today.

He also called on Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel at the latter’s office today itself.

Central bank will secure citizens’ deposits: Governor Dr Poudel

Newly appointed Governor of Nepal Rastra Bank (NRB), Dr Biswo Nath Poudel, has said that the NRB will prioritise the security of citizens’ deposits in banks and financial institutions and improvements in loan policies.

The newly appointed Governor said this while taking charge of office at the NRB Central Office in Baluwatar today.

He stated that the country’s central bank will pursue its work as per the policy of augmenting the government’s fiscal policy. Governor Poudel said he would carry out his responsibilities, maintaining the autonomy of the central bank.

“Monetary policy helps to ensure the success of whatever is determined by the fiscal policy. Regulation and supervision are another task,” he said, adding that instead of making many rules to tighten things up, we need to increase supervisory capacity, and for this, the capacity of the central bank needs to be enhanced.

Similarly, he mentioned that the central bank would make decisions only after coordinating with various stakeholders.

“Policy making should be based on dialogue. I am not in favour of bringing a proposal on my own and saying, let’s do this and that. We will proceed after discussing with all the relevant stakeholders,” said Governor Poudel.

On the issue of the acceptance of the resignation tendered by the executive director of the central bank, Dr Gunakar Bhatt, Governor Poudel said that this is a matter of internal affairs of the central bank.

As his first decision immediately after assuming office, the newly appointed Governor has signed the decision related to the printing of Rs 500 and 1000 denomination banknotes. RSS