Kathmandu. Rajesh Upadhyay, acting president of the Confederation of Bank and Financial Institutions (CBFIN), has said that the Nepal Rastra Bank should provide facilities to the banking sector after the floods.

Speaking at a discussion program organized by CBFIN, Upadhyay said that the NRB should make necessary facilitation in managing the risks arising out of disaster as the banking sector runs on the trust of depositors.

He said that the policy of the Securities Board of Nepal (SEBON) may cause some inconvenience. However, he said that the policy taken by the board regarding the stock market is welcome. He said that this policy will help in improving the secondary market and help in making the market dynamic.

“When the entire sector is active, the banking sector is also dynamic,” he said.

Upadhyay said that there is also a need to think about the arrival of new shareholders in the banking sector. He said that it would be appropriate to allow the amount kept by banks and financial institutions in the disaster relief fund to be counted in CSR. Stating that it would be wrong for the government to draw CSR money, he said that the banking sector is investing even in remote areas through CSR.

He also stressed the need to pay more attention to climate risk in the bank’s investment.

Speaking at the event, Goyal, General Secretary of CBFIN, said that Nepal’s economy was import-oriented in the past, so its impact is now visible. He said that while talking about a 100 trillion economy, the attraction in the banking sector should increase. He said that if the banks are not strong and attractive, it will be difficult to achieve the goal of building a 100 trillion economy.

Similarly, Dilip Munakarmi, vice-president of CBFIN, said that the primary capital fund is tight in the banking sector at present. He was of the view that if the founding shareholders of the bank want to exit, they should be allowed to exit easily.