Kathmandu. Nepal Rastra Bank (NRB) is the regulatory body of banks and financial institutions. The Rastra Bank regulates and supervises the banks and financial institutions licensed by it. Banks and financial institutions take action if they make mistakes. If you do good work, it also encourages you.

Generally speaking, the central bank is the guardian. Nepal Rastra Bank should treat the directors and employees of banks and financial institutions with respect÷love. The central bank should listen carefully to the complaints of banks and financial institutions. The miscreants should be punished but those who make mistakes unknowingly should be given a chance to correct. In essence, parents should treat their children as they should.

Has the central bank behaved like this? This question may be on everyone’s mind. And, the simple answer to this is that a study has shown that doing the mentioned behavior is not just that, but on the contrary, it can cause many misery and force you to do things against the law. The Banking Sector Reform Suggestion Task Force formed by the Nepal Rastra Bank (NRB) has found this during its study.

In the recommendation submitted by the task force, the central bank has mentioned the behavior, sorrow and harassment of other bank and financial institution employees.

“Since Nepal Rastra Bank is a regulatory body, it is natural that adequate authority should be given to it so that the banking sector can protect the deposits of the general public and maintain the public’s trust in the banking sector,” he said. “It is the responsibility of efficient management to take action against miscreants, educate those who make mistakes unknowingly and reward those who do good work,” reads the suggestion. NRB employees do not behave as per the suggestion.

Banks and financial institutions have been very troubled by the activities of the Nepal Rastra Bank.

Banks and financial institutions have to work within the stipulated time, but the Rastra Bank always does. Banks and financial institutions have been facing problems as the Nepal Rastra Bank has not taken any decision for months. According to the complaint, NRB officials generally do not respond to the letter written by the banks and financial institutions for clarity on the rules and regulations.

There is also a complaint that it should have been given to the institution in some ambiguous circular. Not only that, there is also a lot of complaint that the officials of the Rastra Bank interpret the law in their own way and make decisions.

If a bank or financial institution is not satisfied with the work done by the Rastra Bank and goes to court and loses the case against the Rastra Bank, then the sad days of that institution begin. Everyone is silent, I am silent for fear of how the Rastra Bank will harass me.

That’s why no one goes to court except for exceptions, according to the study report. Employees of banks and financial institutions have complained that some employees of Nepal Rastra Bank have been making phone calls for recruitment and pressuring them to advertise against good governance.

The study also suggests ways to reduce these complaints. The committee has suggested that the banks and financial institutions (BFIs) should set a deadline for all the works to be carried out by the NRB, respond to the letter written for clarity on the policies and regulations within 7 working days and treat the directors and employees of the banks and financial institutions with respect and affection. It has also suggested to listen carefully to the banks and financial institutions, take action against the miscreants but give an opportunity to correct those who make mistakes unknowingly.

It has been suggested that the NRB should not exert pressure to carry out any undesirable acts, the NRB should include this issue in the code of conduct of its employees by-laws, and the governor should form a grievance hearing committee under the coordination of an independent person (former judge or former governor) with a clean image.