New NRB governor takes charge

Newly appointed governor of Nepal Rastra Bank (NRB) Dipendra Bahadur Chhetri took charge as new governor on Friday.

Talking to media after assuming the charge, Chhetri said that NRB under his leadership will stress to improve the banking system and take action against wilful defaulters.

Chhetri said that weaknesses in the banking system also contributed to defaults on loan repayments besides the intention of wilful defaulters.

Focusing on supervision under his leadership in the bank, Chhetri said, “If we cannot strengthen supervision, our financial system may also have to face a financial crisis.”

He said that the cooperatives should be under NRB as they are into monetary transactions. “NRB will provide facilities and encourage financial institutions to go to rural areas,” said Chhetri.

Chhetri has worked in National Trading Ltd and Agriculture Development Bank before being appointed a member of National Planning Commission (NPC).

He had retired from NRB as executive director of the currency management division two years ago.

The cabinet on Thursday had appointed Chhetri as 14th governor of the central bank.