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Finance minister directs RBB to reduce liquidity

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Finance minister directs RBB to reduce liquidity
Finance minister directs RBB to reduce liquidity

CONTEXT: RBB GOLDEN JUBILEE CELEBRATIONS
Kathmandu, Jan 24: Minister for Finance, Dr Ram Sharan Mahat, has directed the Rastriya Banijya Bank (RBB) to check the liquidity, as it has been moving ahead as a capable and strong bank in the financial sector.

At a programme organized on the Golden Jubilee Celebrations of the RBB here today, Minister Dr Mahat said the RBB should be further active, saying an environment conducive for the investment has been created.

The Finance Minister pointed out the need of utilizing the liquidity, saying the RBB has the deposit of Rs 103 billion, but only Rs 65 billion’s investment. It has maximum liquidity.

In recent time, the RBB has Rs 38 billion liquidity, he added.

Stating that banks and financial institutions have started to make profit due to economic liberalization initiated by the government after 2046 BS, Minister Mahat said this sector should play a leading role in nation’s economy.

He urged the private sectors to augment investment being confident as the environment has been created conducive for the investment. The bank was suggested to release 30 per cent share to the public, for which the government would extend support.

On the occasion, Chief Secretary Leelamani Poudyal said that the commercial bank should extend its competitive capacity in different sectors in the rural area. He also suggested the banks and financial institutions to narrow down the gap between deposit and loan.

Nepal Rastra Bank’s Deputy Governor Maha Prasad Adhikari pointed out the need of launching customer centered programmes.

Bank Management Committee Chair Dr Rewat Bahadur Karki expressed commitment to make the bank service more strengthened and effective in the coming days.

Similarly, Chief Executive Officer at the Bank Krishna Prasad Sharma shared the information on the total financial situation of the Bank. He said that the bank had 159 branches, 28 banking centre, 80 ATMs in 68 districts while the customers were over two million
The bank was in profit with Rs 3.78 billion until January 14 of the current fiscal year 2014/015 while the capital property reached to Rs 8.58 billion and the capital adequacy ratio to 10.05 per cent. The bank’s expired loan is only Rs 3.45 per cent.
The bank is all set to mark the next fiscal year as an E-Banking Year, make its service prompt and effective and increase the financial literacy.

On the occasion, senior journalists- Kuber Chalise and Rupak Dev Sharma- were jointly awarded with Rs 50,000 cash prize. The award is named ‘Journalist with Banijya Bank’. Similarly, Society for Journalists Nepal (SEJON) has been awarded with Rs 200,000 for its special contribution to the economic and banking sectors.

Likewise, the bank provided Rs 1.3 million to the Nepal Red Cross Society for its incomparable service with blood transfusion to the poor and helpless patients.

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