Kathmandu. Executive Director and Spokesperson of the Nepal Rastra Bank, Guru Prasad Poudel, has said that the central bank will formulate policies to manage liquidity required for 7 percent economic growth and maintain inflation within 6 percent in the budget for the coming fiscal year.

Poudel said this during a discussion program organized by NAFIZ here today. He added that the government needs pressure to bring an ambitious budget to address the current extraordinary situation.

He said that the synergy of economic growth could come as the budget has tried to advance the administrative sector by prioritizing good governance, digitization and electrification. He said, “There is a possibility of economic synergy as the plan is focused on good governance.” ‘

He said that the budget has directed the NRB to implement the steps taken by the NRB since the past in a more effective way. “It has been mentioned in the budget that small loans will be measured on the basis of financial transactions on the basis of credit score on the basis of track record. ”

Similarly, the concept of fintech marketplace has also been addressed in the budget. Stating that the Nepal Rastra Bank is also working on this, he expressed the belief that the work would be done sooner once the issue is mentioned in the budget itself. Poudel said that the budget has made provision for taking loan for the purchase of various consumer goods in hire purchase to increase consumption.

“The budget has been trying to bring concessional loans in a more sophisticated way for the upliftment of the middle and lower middle class of the country,” he said. Poudel expressed happiness over the fact that the asset management company has come to complete the project on time.

“The budget has addressed the issue that has been pending for a long time,” he said, adding, “It will provide some easing in the context of the rise in non-performing loans and non-banking assets in the financial system in recent period.” He said that the law will be made clear about which model the asset management company should go to.

Stating that the issue of sovereign wealth fund has also been included in the budget, Poudel said that it has been brought in the budget to discuss how to utilize the foreign currency reserve at a time when the size of foreign currency reserves is increasing. “There is a need to move forward by making it a working procedure,” he said, “Liquidity is more important than profitability for banks.” ”

He said that remittances are a major source of foreign exchange and this should be carried out very carefully. “It would have been easier for investment if we had earned foreign currency by exporting any service,” he said. ”