Banking News – Newly appointed Governor of Nepal Rastra Bank, Bishwanath Paudel, has made his first official decision by approving the printing of new NPR 500 and NPR 1,000 banknotes. He signed the decision shortly after assuming office at the central bank.
During his address after taking office, Governor Paudel emphasized that monetary and fiscal policies are distinct. He clarified that monetary policy is not subordinate to the government’s fiscal policy but an independent framework. However, if monetary policy creates obstacles in implementing fiscal plans, adjustments will be made accordingly, he added.
Regarding the resignation of Gunakar Bhatta, Executive Director at the central bank and a contender for the governorship, Paudel noted that the matter remains an internal issue.
