Comprehensive Review of Bank and Financial Institutions Will Be Held: Prime Minister

Prime Minister Pushpa Kamal Dahal 'Prachanda' has promised to hold a comprehensive review meeting to address the problems seen in the banks and financial institutions sector by dealing them in the form of a package.

Addressing the meeting of the National Cooperatives Development Board held on Sunday at the Office of the Prime Minister and the Council of Ministers, he said that monitoring and regulation of banks and financial institutions is necessary.

Microfinance did perform a very good job with easy and simple loans particularly in rural settings, but since people have raised questions about them there is a need to formulate a policy after a comprehensive review of these matters, he said.

On the occasion, Prime Minister Dahal said he was thinking about holding a comprehensive review meeting of banks, financial institutions and cooperatives in a few days to identify and solve the problems in this sector.

In the meeting, the Prime Minister stressed that the cooperatives board should regularly monitor and facilitate solution of the problems seen in the cooperatives sector.