Banking Sector Not Unrecoverable, Says CIBFIN Secretary General
Summary
CBFIN Secretary General Manoj Goyal says Nepal’s banking sector is under stress but remains recoverable if policy and regulatory reforms are introduced. He urged clearer rules on loan provisioning, distressed assets, and the proposed Asset Management Company, while assuring depositors that their savings are safe.
Key Points
- CBFIN Secretary General Manoj Goyal said the banking sector is troubled but not beyond recovery.
- He called for practical reforms in Nepal Rastra Bank rules, including director provisions and loan classification norms.
- Goyal urged quick establishment of the proposed Asset Management Company to handle distressed assets and non-performing loans.
- He said floods, landslides, and the broader economic slowdown have hurt borrowers, but depositors’ savings remain safe.
