NRB Dep Gov Mishra attributes economic improvement to flexible monetary policy

KATHMANDU: Deputy Governor of Nepal Rastra Bank (NRB), Bam Bahadur Mishra, claimed that the flexible provisions of the monetary policy have resulted in a gradual improvement in the economy.

At an interaction titled ‘Work Direction of Monetary Policy: Loan Expansion and Auto Business’, organised by the Economic Media Association Nepal on the occasion of the NADA Auto Show 2024 in Kathmandu today, he stated that the work direction of the monetary policy was deliberately made flexible, and the economy was gradually becoming functional with reforms in regulatory provisions.

“Banks and financial institutions have witnessed an increasing volume of liquidity. The automobile and stock markets have gradually become functional,” Mishra said, asserting that the monetary policy provisions were contributing to the rise in the stock market.

Deputy Governor Mishra also mentioned that the central bank is making policy efforts to promote the use of electric vehicles.

Similarly, Nepal Bankers’ Association President Sunil KC pledged cooperation in measures aimed at promoting electric vehicles and an eco-friendly transport system.

Confederation of Banks and Financial Institutions Nepal (CBFIN) President Upendra Prasad Paudel emphasised the need to make the automobile business productive and to promote EVs to reduce the import of petroleum products and utilise domestic energy.

NADA Automobiles Association of Nepal President Karan Kumar Chaudhary promised to expand the charging station facility according to consumer demand.