18-1-2009
Nepal Rastra bank is mulling over creating a separate regulatory body to regulate and supervise microfinance development banks by entrusting its present responsibilities to it. Gopal Prasad Kafle, executive director of NRB, said that the central bank was going over a preliminary draft of the Micro-Finance Act which would provide for the establishment of a separate regulatory body. After the act goes into force, NRB will transfer its responsibilities of regulating and supervising microfinances, cooperatives and non-governmental organisations (NGOs) to the new regulatory body.

16-02-2008:
Minister of Finance Dr. Ram Sharan Mahat Thursday said that micro-finance was an effective tool to alleviate poverty prevalent in any underdeveloped and developing country. Addressing the inaugural session of the first 'Micro-finance Summit Nepal 2008', he said that microfinance had proved popular in empowering women with the credits and loans scheme. He said that such schemes would encourage habit of saving among the women which would help them to be independent. Assessing the role of micro-finance institutions in poverty alleviation, he also promised to provide tax concessions to them. He said that micro-finance was most often targeted to women, who maintain a recovery rate by 99 per cent, to any financial institution.

Read more about this microfinance summit