Kathmandu. Nepal Rastra Bank (NRB) has unveiled its monetary policy for the upcoming fiscal year 2019/20. The monetary policy has been brought in June. The monetary policy, which was usually brought till the second week of July, was brought this time on July 15.
This is not the first monetary policy introduced in June. This is the third monetary policy introduced in June. Governor Prof Dr Bishwanath Poudel announced the monetary policy at 12:30 pm on Friday. A large number of media persons were present at the press conference with the expectation that the Governor would come. Even after the program started, when Governor Poudel was not seen in the press conference, everyone was upset. Many suspected that most of the people had run away from facing questions as Governor Poudel did not participate in the program. This apprehension was also evident from the expression of the executive directors of the Rastra Bank who participated in the press conference.
The monetary policy is to be brought by the Rastra Bank. Its basic leadership is taken by the governor. The governor should take the first responsibility for the monetary policy brought by the Rastra Bank. However, the monetary policy has to be passed by the board of directors. However, its main leader is Governor Poudel. Or whoever else is in his place, whoever the leader should take.
This is the first policy of Poudel, who became governor amidst a long political tussle. From the first policy taken by the governor, his future strategy, future plans, how to manage the money mobilized in the market, what can be the areas of money mobilization, what is the governor’s attitude in those areas? It also shows. Governor Poudel failed to show these issues in the forefront. Even more, he ran away.
It is not a matter of common criticism that the member of the recommendation committee selected before the appointment of the governor by the government resigns, the outgoing governor Maha Prasad Adhikari has been placed in the selection committee, Poudel, who was a member of the governor selection committee, resigned and eventually became the governor himself. Poudel, who became the governor in this serofero, did not face the question in today’s press conference and the governor ran away from the question so soon.
Governor Poudel had some questions. For example, why monetary policy in a hurry?
How objective is this monetary policy at the moment?
Why did it seem that monetary policy was only trying to be liberal? Do you really want to be generous or just show it?
Have you increased the limit of single loan going to the stock market from Rs 15 crore to Rs 25 crore? Was the investor’s demand to remove it? Are you trying to make yourself stock market friendly by bringing this policy?
If the stock market was to be friendly, why did you not take the policy of allowing the bank to buy shares? How justified is it to name postal highways and mid-hill highways in monetary terms?
This provision has been made in the monetary policy as he has reached Dhangadhi after listening to the grievances of the stakeholders through the mid-hill highway from June 15 with the aim of formulating a policy based on the problems of the people.
Governor Poudel, who had travelled on the mid-hill highway among the media persons attending the press conference, had gone to Visit Chitwan.
Similarly, loans up to Rs 300,000 disbursed to the youth going for foreign employment with or without collateral can be counted as loans of the poor. In the case of women, such loans will be given a maximum of Rs 5 00,000. Will the bank give loans as per the policy adopted by the Rastra Bank? Has this policy come into the limelight? Government to send workers on free visa, free ticket? Will the Rastra Bank adopt such a policy?
Another important question is that if the monetary policy was to be brought today, then why did you take the 35-point suggestion of the monetary policy given by the Nepal Chamber of Commerce yesterday (Thursday)? Or if suggestions are yet to be taken, why hurry, and what topics did you include in the monetary policy brought within 24 hours of receiving the suggestion?
Many other questions could have been raised. However, Governor Poudel ran away from the question. The average person can psychologically assess the answer given by Governor Poudel. However, it is different to hear from the governor’s mouth point and to imagine the answer psychologically.
Speaking on the occasion, NRB Governor Poudel said that the press conference was organized only to see if there were some technical issues in the monetary policy or whether there was any non-understanding issue in it. However, Governor Poudel was not ready to face the question.
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