Governor Dr. Chiranjibi Nepal urges microfinance institutes to prepare for the merger process

Governor of Nepal Rastra Bank; Dr. Chiranjibi Nepal urged microfinance institutes to make necessary preparations for merger. Nepal further mentioned that monetary policy will be announced within a month so, all institutes should be able to find a partner within this month. Governor Nepal suggested these institutes to search for their partners at the earliest possible.   

Moreover, governor mentioned there will be no consideration to several demands of institutes in regards to merger. Dr. Nepal also mentioned in 2072, when banks were asked to go into merger, a number of strategies were applied to fail the process. However, the merger decision is taken through a proposal presented by International Monetary Fund in 2066; the proposal is for the good of the banking economy. So, microfinance institutes should rather be ready for the merger.