MORE BANKS IN NEPAL BUT LACK OF PROFESSIONALS

Four banks-Sunrise Bank, Bank of Asia, Country Development Bank, Kasthmandap Development Bank has started their operations from October 12. There are many banks and financial institutions in Nepal but access to banking service is only limited to 20 per cent people of the country. Banks are mushrooming in the urban areas. One of the best reasons behind this scenario is more profit in urban regions as compared to the rural.

Another one drawback is almost all big business house owns bank in the country. They handle bank’s day to day activities. Instead of operations by professionals the banks run by tycoon. They borrow loan from their own bank and do not settle up their accountability later on. Professionals lack the capital and hence the situation of banking sector is not vivid.

Due to increasing number of banks, there seems paucity of professionals at middle management level and upper management level. The new banks snatch professionals from other banks because there is lack of proper individuals who run the bank. People do not know their recruitment policy for other staffers too. They recruit their near and dear ones.

The Central Bank should also increase its supervisory capacity in this connection. This is one of the major challenges for Nepal Rastra Bank.
It is meaningless to say there are banks in the country as they are accessible merely to 20 per cent populace of the country.

MORE BANKS IN NEPAL BUT LACK OF PROFESSIONALS