First Business News Portal in English from Nepal
KATHMANDU: Governor of Nepal Rastra Bank, Maha Prasad Adhikari, has stressed on the importance of the role that the governments and the respective central banks could play to revive the economy which has been severely affected by the COVID-19 pandemic.
Speaking at a joint virtual meeting organized by Policy Makers Roundtable Alliance for Financial Inclusion (AFI) and G-24, Governor Adhikari said that the member countries of G-24 and their central banks need to focus on reviving the economy.
He also emphasized on promoting e-banking, better policies and regulatory subsidization and resources management for the revival of especially small and medium enterprises.
On a positive note, Adhikari opined that the current coronavirus pandemic should be taken as an opportunity to promote digital platforms such as e-payment and e-commerce. “The promotion of digital banking can help in promoting employment and developing entrepreneurship among the younger generation,” he mentioned.
On the occasion, Governor of State Bank of Pakistan, Dr Reza Baqir, informed about the banking practices adopted in Pakistan to create liquidity, reduce policy rate, facilitate refinancing loan and policy concession during the pandemic.
Participants in the meeting discussed on the efforts made by their respective nationsat the policy level to reduce the impact of the COVID-19 on the economy.
They discussed the role of the younger generation in economic growth and development and the need to promote financial inclusion through digital financial literacy program.
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