The government is preparing to bring a new legal rule to announce the monetary policy on Shrawan 1 every year starting from the next fiscal year.
Just like the budget speech has a fixed date, government is now planning to fix the date of monetary policy on Shrawan 1. This proposal was discussed in Finance Committee of House of Representatives during discussions on ‘Nepal Rastra Bank Act, 2058’ amendment bill. The committee has agreed to this proposal, and some other plans about the financial sector were also passed with some changes.
Demands from Commercial Banks
During the discussion, Nepal Bankers Association and CEOs of different commercial banks expressed their worries. They did not liked Section 100 of the Nepal Rastra Bank Act and asked for amendment. They said that under current rule, even a very small action can make bank officials disqualified from their jobs, which is not fair.
Technical Difficulties in Changing the Law
But, the committee said they cannot change Section 100 right now. This is because the current amendment bill did not open this section for change. According to Rule 113 of the House of Representatives Rules, any new amendment must match the main topic and principles of the original bill, so there is technical difficulty to accepting it now.
The committee assured that they will solve these legal problems in the future to make the financial sector run smoothly.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
