Distinction between banking, other business must: Governor

KATHMANDU, Sept 15 :

Nepal Rastra Bank (NRB) Governor Yuba Raj Khatiwada has said that there should be a cordial relationship between the banks and other businesses but with some distance.

“The ambition of the banks, their CEOs or NRB alone cannot ensure economic development of the country. We are only the supply side.

Unless the demand side is strong, our desire alone will not bring expected results,” Khatiwada said, speaking at the inaugural ceremony of Prabhu Bank Ltd in capital on Monday. “The other side is the business sector. So, the banking and business sectors should have good relationship but with some distance.”

The governor´s statement has come at a time when the government is preparing to blur the line between the banking and other business by amending banking laws.

“The lack of distinction between banking and other business has confused us. So we are asking you to come wearing your own hat,” he said.

Source: Republica