KATHMANDU, June 14: Nepal Rastra Bank formed a task force, chaired by Dr Rewat Bahadur Karki, to recommend ways to improve and strengthen the banking sector.
The task force includes former banker Bhuwan Kumar Dahal as a member. The executive director of the Bank and Financial Institution Regulation Department at Nepal Rastra Bank serves as the member secretary. The three-member task force has a mandate to complete its assignment within a month.
Revised interest rate corridor system introduced

The task force must recommend liberal yet prudent banking policies, effective supervision, and ways to develop customer-friendly banking services.
It must also suggest how the banking sector can fully revitalize economic activities, improve credit flow in rural areas, manage mergers and acquisitions of banks and financial institutions, and identify and solve related problems.
Furthermore, the governor's office has asked the task force to offer its recommendations on the banking sector's role in removing Nepal from the FATF greylist and to advise on the central bank's coordinating role in capital market development.