KATHMANDU: Officials of the Executive Committee of the Nepal Bankers Association met with the newly appointed Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Tuesday. During the meeting, Sunil KC, president of the association, highlighted the banking sector's contribution to the country's economic growth and discussed the recent challenges faced by the sector.

KC emphasized the need for the government to work towards making the economy sustainable, especially given the current market instability caused by the contraction in credit expansion and declining interest rates of banks and financial institutions. He also addressed the recent negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining bank returns, and the increase in bad loans. He assured that the banking sector is committed to supporting the government in achieving financial stability and economic development.

Deputy Prime Minister and Finance Minister Paudel commended the contributions made by banks and financial institutions. He stressed that all stakeholders must collaborate to address the economic challenges and work towards sustainability. Paudel highlighted the importance of boosting economic activities by increasing the confidence of the general public, entrepreneurs, and businessmen, identifying this as a primary challenge for the current economy.