KATHMANDU: Manoj Goel, general secretary of the Confederation of Bank and Financial Institutions (CBFIN) of Nepal (CBFIN), has said that the banks and financial sector are facing some problems at present.

Speaking at a discussion program organized by CIFIN, Goyal said that the situation in the banking sector is now like a ‘fever’ and the situation will improve. He said that if the economy improves, the banking sector can also recover easily.

He said that there may have been some problems in the banking sector as the investment could not be done as expected in the manufacturing sector in the past. He said that if the banks and financial institutions can now take the right path, there is no need to be afraid much in the coming days.

“It is like a fever now, it is not a situation where we cannot get up. If the economy improves, the banking sector will also improve,” Goyal said.

He said that there is a need for a policy to allow the old shareholders to sell some shares. He also said that the issue of operating the asset management company was said to be brought to the end of January but it has not been discussed as expected.

Goyal also said that depositors of banks and financial institutions need not panic right now.

He also said that there is a need for a clear policy regarding the status of the investment made by banks and financial institutions in the infrastructure of government-owned projects. He said that there should be clarity about the future of the bank’s investment in such projects.