Himal Press 
KATHMANDU: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that banks and financial institutions must play a responsible role in steering the economy in the right direction.
Speaking at a program organized in Kathmandu on Monday, Adhikari urged banks to not only focus on loan disbursement and recovery but also to understand the practical difficulties faced by businesspersons. “When entrepreneurs run a business, they put in a lot of effort. Their businesses may face problems due to unforeseen reasons. In such situations, banks should support them,” he said. “Instead of blacklisting businesspersons, banks should provide technical and financial support.”
The governor added that business closures can be avoided if entrepreneurs get support in difficult situations. He also warned that the impact of business closures would ultimately affect the country.
Also speaking on the occasion, Santosh Koirala, president of the Nepal Bankers Association, said banks are struggling with loan recovery issues. “Banks are currently facing challenges in loan recovery. There are still issues in obtaining recommendations for auctions. Banks have not received adequate support from local governments,” he said, adding that the government should support banks in dealing with problems seen in the banking sector.
