Kathmandu – The tenure of Nepal Rastra Bank Governor Maha Prasad Adhikari is set to end on Chaitra 24. Adhikari, who assumed office in 2076 BS, is completing his five-year term as the 17th Governor of the central bank.

Governor Adhikari took charge during the global COVID-19 pandemic, a time of severe economic crisis. While some acknowledge his flexible monetary policies during the pandemic as a relief for businesses, others criticize him for failing to implement business-friendly measures.

However, post-pandemic, his strict monetary policies created challenges for entrepreneurs and industrialists, leading to higher interest rates imposed by banks. Many businesses, already struggling with an economic downturn, faced additional burdens, triggering strong criticism of his policies.

With his term nearing its end, speculation is growing about who will be the next Governor. Business owners and industry leaders are eagerly waiting for a Governor who understands the economy and introduces business-friendly policies.

In this context, Banking News spoke with business owners from the New Road commercial hub.

Young entrepreneur Pawan Katuwal, who has been in the footwear business for years, describes the current economic situation as dire. He emphasizes that despite excess liquidity in banks, the new Governor must implement policies to stimulate economic activity.

Similarly, businessman Rajesh Singh highlights the difficulty in obtaining loans even when banks have excess funds. He urges the next Governor to introduce a more accessible lending policy.

At present, non-performing loans (NPLs) are soaring, affecting the overall financial sector. Addressing this issue will be a major challenge for the incoming Governor.