Governor Dr. Nepal instructs BFIs to be ready for merger before releasing monetary policy; says monetary policy to be presented on 27th of this month

Governor of Nepal Rastra Bank (NRB) Dr. Chiranjibi Nepal met with the Chairmen and CEOs of the BFIs today to discuss some important aspects.

Dr. Nepal has asked the heads of the BFIs to enforce the procedure of merger and acquisition within a period of 15 days. The heads of all 28 commercial banks were invited to discuss the terms of the upcoming monetary policy for the fiscal year 76/77. In the discussion, Governor Nepal mentioned that the monetary policy for the upcoming fiscal year will be presented on the 27^th of Asadh.

Due to this, he has advised the BFIs to enforce merger and acquisition and present it to the NRB before the presentation of the monetary policy for the upcoming fiscal year.

Referring to Dr. Nepal’s statement, “As I had cautioned you earlier, get ready for merger”, one of the banks’ chairman stated, “only 15 days remain for the monetary policy to be present, put careful thought on which BFIs will be merged or acquired within 15 days.”