Money supply normal: Central Bank

KATHMANDU, April 27: The Nepal Rastra Bank (NRB) has said that supply of money is normal even in the context of expanding economic activities.

Addressing a function organized on the occasion of the 63rd anniversary of the central bank in the capital on Friday, Governor Dr Chiranjibi Nepal said that money supply was made accessible during the time of high demand as well.

Governor Dr Nepal said that progress in power supply and reconstruction works, and the government’s commitment to development and prosperity have created investment-friendly environment in the country.

Likewise, Dr Nepal shared that a total of 158 banks and financial institutions were merged to become 40 institutions till the first nine months of the current fiscal year after enforcement of the BFIs Merger and Acquisition Bylaws.

Of the 753 local levels, the commercial banks have reached out to only 394 local levels so far and the branches of the banks would be opened in the remaining other local levels till the end of the current fiscal year, according to the governor. RSS