Employees of the Nepal Rastra Bank, central bank of the country have demanded immediate end current anomalies and malpractices of the bank to make it more capable of regulating the financial sector.

Deputy Governor of Nepal Rastra Bank Krishna Bahadur Manandhar handing over the letter of appreciation to an employee of the central bank who has worked for more than 25 years, Friday, Apr 27 07. nepalnews.com/ANA

Deputy Governor of Nepal Rastra Bank Krishna Bahadur Manandhar handing over the letter of appreciation to an employee of the central bank who has worked for more than 25 years, Friday, Apr 27 07. nepalnews.com/ANA
Speaking at the programme on Friday organized to mark the 52nd anniversary of the central bank they said that inefficiency of the central bank has also contributed to the slow pace of financial sector reforms.

President of Nepal Rastra Bank Employees Association, Basant Raj Pandey, said that a system should be developed to frequently update asset record of employees, adding, “If any unjustifiable rise in wealth is detected, an inquiry should be launched against the related employee.”

Explaining the current economic scenario, Krishna Bahadur Manandhar, deputy governor of the central bank, said the government has budgetary surplus of Rs 3.69 billion until last week. It had posted a deficit of Rs 7.84 billion during the same period last year.

He further said the government mobilized a total debt of Rs 12.41 billion to fund budgetary expenses.

On the ongoing efforts of the central bank, he said steps have been taken toward divesting shares of other financial institutions under its ownership.

NRB employees who have served the bank for over 25 years were presented with the long term service awards followed by a prize distribution for various competitions like volleyball, quiz and literature that were held on the occasion.