Banks denying to provide concessional loan face action: Minister Dr Khatiwada

KATHMANDU: Finance Minister Dr Yubaraj Khatiwada has warned that the banks denying concessional loan would face action. At a programme organized by the National Youth Council here Wednesday, Minister Khatiwada urged the concerned bodies to invest confidently because government has ensured security to loan guarantee.

At the programme held to announce the agreement among the Rastriya Banijya Bank, Nepal Bank Ltd and Agricultural Development Bank in the capital city, he stressed, “The money deposited in banks needs to be invested for youth entrepreneurship. You can invest without hesitation, “he said to the chief executive officers of the banks present at the function.

Similarly, the Minister told the youths that they could write email directly to him if the banks do not provide concessional loan even after producing every required document. He further shared that some youths had also mailed him and he did follow up on it.
According to him, the youth mobilization year would be linked to economic transformation. For it, the youths would be entrepreneur by providing concessional loan.

On the occasion, Executive Vice-Chair of the National Youths Council, Madhav Dhungel, shared that the concessional loan was provided to ensure jobs to youths within the country. As the ‘Integrated Work Procedure relating to Concessional Loan 2076’ was amended, it would be easy for the banks to provide loan.

Secretary at the Ministry of Youth and Sports, Ram Prasad Thapaliya, viewed that the subsidized loan would help make village youths self-employed.

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