Cooperatives should focus on production: NRB Governor

KAKADBHITTA, APR 25:

Nepal Rastra Bank (NRB) Governor Dr. Yubaraj Khatiwada inaugurated the building of the Hatemalo Savings and Credit Cooperatives at Budhabare in Jhapa district on Tuesday.

Speaking on the occasion, Governor Khatiwada stressed on the role of the cooperatives and described the cooperatives as the places for building civilized society.

He called on the cooperatives to invest and focus more in the productive sectors rather than running banking services. He suggested that the should invest in production, processing and distribution.

The Hatemalo Savings and Credit Cooperatives was established in 2055 BS. The cooperatives' new building was constructed at a cost of approximately 3.5 million rupees.

Source: THT