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Banks and financial institutions will be reclassified on the basis of size and nature of business.

. KATHMANDU: Nepal Rastra Bank (NRB) is preparing to reclassify the banks and financial institutions through the Monetary Policy for the fiscal year 2083/84.

According to NRB Governor Prof. Dr. Bishwanath Poudel, the concept of providing specialized services will be forwarded by restructuring the banking sector on the basis of the size and nature of the business.TAG_OPEN_div_6 Under this, banks and financial institutions will be classified on the basis of their target customers, business size and service area.

According to the NRB, through this provision, the NRB aims to develop banking services as per the need for small, medium and large enterprises, expand financial access and make the banking system more effective and competitive.TAG_OPEN_div_4

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