Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has made it mandatory to bring the Monetary Policy on the first day of every fiscal year, i.e. July 1.
This provision is being made in the Nepal Rastra Bank Act Amendment Bill, which is under discussion in the Finance Committee of the House of Representatives. Chairman Dr. According to Krishna Hari Budhathoki, the meeting of the committee has decided to unveil the monetary policy on July 1.
Similarly, the Supreme Court’s recent decision that a person or director of the central bank will also be disqualified from holding the post of the bank. Bankers have expressed serious dissatisfaction over this and have demanded amendment to Section 100 of the Act.
However, officials of the Nepal Rastra Bank and the Ministry of Law have suggested that such issues should be addressed through the Bank and Financial Institutions Act (BAFIA).
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