Nepal plans new banking law

Nepal Rastra Bank (NRB) is set to introduce the Bank and Financial Institution Act to allow mergers and acquisitions amongst financial institutions, an NRB official told reporters Friday 27 April.

Krishna Bahadur Manandhar, acting governor of the NRB said the central bank is introducing a new act governing commercial and development banks as Nepal opens up its financial sector.

"The new legislation could come soon," he told reporters.

"The forthcoming law will address the current problem and pave

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