The Governor of Nepal Rastra Bank (NRB) Dipendra Bahadur Kshetry Friday said that the recent move of NRB on Nepal Bikash Bank liquidity process was to create awareness and ensure safety of people’s money.
He said that this initiative would alert the banks’ customers to look into the bank’s status before making deposits.
Governor Kshetry said that NRB was fully committed to strengthening the banking and financial sector through an effective monitoring and supervision. He said that the banking sector in Nepal was in a strong position.
Presenting outstanding award to the community micro-finance institutions here in the capital at a function organized by Rural Micro-Finance Development Center (RMDC), he said that the government would not undermine the contribution of the rural microfinance institutions.
“The micro-finance institutions are directly and indirectly contributing to socio-economic transformation,” he added. He said that micro-finance institutions were reaching every rural corner to facilitate the poorest of the poor, which was appreciable.
He said that the Government’s Self-Employment Program would not affect the micro-finance. “For this NRB will be wittier.”
On the occasion, the governor presented the award to Chhimek Bikash Bank, Sahara Nepal Saving and Cooperative Limited and Center for Self-Help Development for their outstanding contributions in the micro-finance sector.
Shankar Man Shrestha, Chief Executive Officer (CEO) of RMDC said that the micro-finance institution was developing as an industry. He said that it was committed to minimize the existing gap between the poor and the rich, disbursing loans and making them self-reliant.
He said that micro-finance institution was still lacking in its reach to the hilly region.
According to RMDC, through its 73 partner organizations, it was facilitating the poor of 52 districts. The apex institution of micro-finance has Rs.640 million authorized and Rs.320 million paid up capital.
Similarly, the loan approved and loan disbursed stood at Rs.3.560 billion and Rs.2.989 billion respectively. The loan recovery rate is above 99 per cent, the RMDC claimed.
Likewise, it has 90.57 per cent share ownership of the commercial banks and 6.58 per cent of the NRB.
Source:arthakoartha.com
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Monday, June 8, 2009
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