Speaking at a program organized by Mirmire Media Club, the people involved in the banking sector ruled out the rumor that financial institutions in the country are becoming ´bankrupt´. [break]
Nepal Rastra Bank (NRB) former governor Deependra Bahadur Chhetri said monetary policy had been a failure due to the government and the country´s worsening economic condition, as the budget could not be passed on time.
NRB executive director Mahaprasad Adhikari said Nepali banks did not have a remarkable investment in real estate.
Vice-president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Pradip Man Baidya said the economic condition of the country is weakening as liquidity crunch in banks has been affecting the business activities.
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