Minister warns of intervention if banks are not transparent

Finance Minister Yuba Raj Khatiwada

Kathmandu, February 17

Minister for Finance Yuba Raj Khatiwada has said the government will intervene in the banking sector if financial institutions of the country fail to maintain needful transparency.

Khatiwada’s statement comes at a time when industrialists and entrepreneurs are appealing to the government to control interest rates of the banks.

Addressing a function in Kathmandu on Sunday, the Minister said, “There should be competition in the market. There is no doubt that the banks can earn profits. But, lack of transparency in the market will invite an intervention.”

He was of the view that every entity should do what they are entitled to so that no problem would surface in the sector.

Published on February 17th, Sunday, 2019 4:43 PM

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