Governor Paudel Praises Role of Microfinance Institutions

Nepal Rastra Bank Governor Dr. Bishwanath Paudel has lauded the significant contributions of microfinance institutions in transforming rural economies and fostering social empowerment. During a meeting with representatives of the Nepal Microfinance Bankers Association on Tuesday, he highlighted their pivotal role in expanding financial access to rural communities.

"Microfinance institutions have not only boosted rural economies but also played a key role in driving social change," Governor Paudel stated. Acknowledging recent challenges in the sector, he emphasized the need to address these issues to further strengthen and expand its impact. "We will treat challenges as opportunities for improvement," he added.

Paudel assured that policy-making would involve consultations with all stakeholders. "I am well aware of the social value and contributions of microfinance. We will move forward with policies shaped through dialogue and collaboration," he said.

During the meeting, Ram Bahadur Yadav, President of the Nepal Microfinance Bankers Association, urged for proactive measures to resolve issues in the sector and called for simplified policies to enhance business growth and financial outreach. He stressed the importance of supportive regulations to expand the sector’s reach.

The meeting was attended by the association’s former president Basanta Lamsal, vice-president Ramhari Dahal, general secretary Sanjay Kumar Mandal, treasurer Binod Acharya, and other chief executive officers. The association congratulated Governor Paudel and extended best wishes for a successful tenure.

This interaction is expected to pave the way for strengthening the microfinance sector and advancing rural development.