Government doing its best to address economic challenges: Finance Minister Paudel

Kathmandu: Deputy Prime Minister and Minister for Finance, Bishnu Paudel has said the government is doing its best to move ahead by addressing challenges in the economy.

During his address to the 60th-anniversary celebrations of the Rastriya Banijya Bank (RBB) here today, the Finance Minister said some achievements are in hand even amidst a strain in the economy and the government is effortful for more gains.

He made it clear that the government is focused on building a sufficient national economy through growth in production productivity and job creation, making the overall economy vibrant.

‘The government does not wish to deliver on average, instead, it longs for securing accomplishments of a long-term effect swiftly,’ he said, adding that the government is working on policy and legal reforms to raise hopes among the citizens.

On the occasion, he highlighted the role of RBB in materializing the government’s target of rapid economic development. He directed the bank to mobilise its liquidity for production and productivity growth and the creation of jobs.

He took time to say that the government has revised 32 laws through ordinances to ensure quality service delivery, promote good governance and encourage foreign investment. As he asserted, it must be the priority of the bank’s management and employees to achieve institutional progress and goodwill. He directed them to focus on securing ‘exceptional results’ through hard work and dedication.

Similarly, Nepal Rastra Bank’s Governor Maha Prasad Adhikari said there is no reality that some banks and financial institutions are crisis-hit. The NRB is, as a regulating body, there to manage the banking issues. He reassured the public that NRB, as the regulatory body, is managing banking issues effectively.

Governor Adhikari also guaranteed the safety of deposits in banks and financial institutions, urging people not to be swayed by “rumours”.

Chief Executive Officer of the Bank, Devendra Raman Khanal, shared that RBB with innovative thinking and determination has been successful in proving itself capable in today’s competitive market. The RBB has been making improvements in various sectors including managing non-performing loans, human resources, customer service, institutional good governance, internal control systems and risk management.

The Bank, which has 294 branches, has been providing banking services to more than 4.6 million customers in all 77 districts. On the occasion, DPM Paudel inaugurated the newly constructed buildings of Kohalpur and Mahendranagar branches and digital transactions of 27 different branches through virtual medium.

He also unveiled a souvenir ‘Upahar 2081’ published by the Bank. Employees who completed their 20-year service in the Bank were honoured with the ‘Long-Service Medal’ (Dirgha Sewa Padak) as well as outstanding staff and branch office as well as senior most retired employees.

RSS