Banking News – Newly appointed Nepal Rastra Bank Governor, Prof. Dr. Bishwanath Paudel, has stated that his top priority will be removing Nepal from the Financial Action Task Force’s (FATF) “grey list.” Speaking briefly after his appointment by the cabinet, Dr. Paudel emphasized his commitment to resolving problems in the country’s banking and financial sectors.
He pledged to enhance the effectiveness of financial supervision, noting that a detailed assessment of banks and financial institutions will guide his efforts to tackle the challenges facing the sector.
Dr. Paudel also expressed a clear intention to boost investor confidence in the capital market, saying, “It is the central bank’s responsibility to uplift the morale of the capital market.”
One of his primary focuses, he added, will be strengthening the central bank’s supervisory capacity. “My principle is fewer rules, stronger supervision,” he said. “Too many regulations create confusion. Banks are facing several issues, and these can be solved through effective oversight. I will focus on this.”
He acknowledged that existing policies and regulations issued by Nepal Rastra Bank have drawn concerns not only from industrialists and businesspeople but also from the broader private sector. In response, Dr. Paudel emphasized the need for evidence-based dialogue and research to identify practical solutions.
“I won’t act like a ‘hip shooter’ who fires impulsively upon arrival,” he said. “This is the economy. A small mistake can hurt everyone. I will make sure such a situation does not arise.
