बैंकिङ प्रणालीमा थपिएको तरलता संकट: कर्जा प्रवाहको सुस्तता, निक्षेपमा नयाँ रेकर्डLiquidity Surplus Worsens in Nepal’s Banking Sector as Credit Demand Remains Weak
गत आर्थिक वर्षको मध्यदेखि सुरु भएको अधिक तरलताको संकट अहिले नेपाली बैंकिङ क्षेत्रकै प्रमुख चुनौती बनेको छ। मागको कमी, आर्थिक शिथिलता र लगानीयोग्य क्षेत्रमा कर्जाको न्यून मागका कारण बैंकहरूमा भारी मात्रामा रकम थुप्रिएको छ। बैंकहरूले कर्जा प्रवाह गर्न नसक्दा राष्ट्र बैंकलाई ब्याजदर करिडोर व्यवस्थापन गर्नसमेत हम्मेहम्मे परेको छ।
तरलता नियन्त्रणका उपाय:
राष्ट्र बैंकले जेठ ११ गते मात्र ३० अर्ब रुपैयाँ तरलता प्रशोचन गरेको छ। यो २१ दिनको निक्षेप संकलन उपकरण हो जसमा २.९६% औसत ब्याजदर कायम भयो। सो उपकरणमा २० बैंक तथा वित्तीय संस्थाबाट ६६ अर्बको आवेदन आए पनि राष्ट्र बैंकले लक्षित ३० अर्ब मात्र उठाएको हो।
यसरी हालसम्म ७६ पटकमा २५ खर्ब ६९ अर्ब र एसडीएफ मार्फत १७५ खर्ब ८८ अर्ब रुपैयाँ राष्ट्र बैंकमा राखिएको छ। एकैदिनमा मात्र १ खर्ब ६६ अर्ब कर्जा लगानी हुन नसकेको रकम राष्ट्र बैंकमा जम्मा भएको हो।
निक्षेपको रेकर्ड:
जेठ ८ गतेसम्म वित्तीय प्रणालीमा कुल निक्षेप ६९ खर्ब १ अर्ब पुगेको छ। तर सोही अवधिमा कर्जा भने ५५ खर्ब ३२ अर्ब मात्र प्रवाह भएको छ। यसले लगानीयोग्य रकम ६ खर्ब ७९ अर्ब देखाएको छ, तर बैंकहरूले केवल ७८.९७% CD रेसियो कायम गरेका छन्, जब कि ९०% सम्मको अनुमति छ।
ब्याजदरमा गिरावट:
तरलता अत्यधिक भएपछि बैंकहरूले निक्षेपको ब्याजदर घटाउँदै लगेका छन्। यसले कर्जाको आधारदर घटे पनि, कर्जा प्रवाहमा भने खासै सुधार आएको छैन। सेक्टरल डिमान्ड (घर, गाडी, सेयर) बाहेक उत्पादनमुखी क्षेत्रमा कर्जा वृद्धि सुस्त छ।
दीर्घकालीन ऋणपत्रको तयारी:
अधिक तरलता व्यवस्थापन गर्न सरकारले अब दीर्घकालीन विकास ऋणपत्र जारी गर्ने तयारी गरेको छ। यो उच्च प्रतिफल दिने आयोजनामा मात्र प्रयोग गरिने र अर्थ मन्त्रालयमार्फत आगामी एक वर्षभित्र कार्यान्वयन गरिने छ।
चुनौती: कर्जा प्रवाह र आर्थिक वृद्धि
राष्ट्र बैंकले चालु आर्थिक वर्षमा १२.५% कर्जा वृद्धि लक्ष्य लिएको भए पनि हालसम्म ७.१% मात्र वृद्धि भएको छ। आन्तरिक मागको अभाव, लगानी वातावरणको सुस्तता, र केही बैंकहरूमा पुँजी कोषको दबाबका कारण कर्जा प्रवाहमा समस्या देखिएको हो।
बैंकरहरूका अनुसार औद्योगिक, निर्माण र उत्पादन क्षेत्रमा लगानी वृद्धि भए मात्र कर्जा विस्तारमा सुधार आउनेछ। तर, हाल कर्जा विस्तार र ब्याजदरबीचको असन्तुलनले बैंकिङ प्रणाली असहज अवस्थामा पुगेको देखिन्छ।
वित्तीय प्रणालीमा अधिक तरलता हुनु आफैंमा संकट हो जबसम्म त्यसलाई उत्पादक क्षेत्रतर्फ मोड्न सकिँदैन। कर्जा प्रवाहलाई गति दिन बैंक, सरकार र नियामक निकायबीच सहकार्य गर्दै उत्पादनमुखी क्षेत्रमा लगानी प्रवाह बढाउनु नै दीर्घकालीन समाधान हो।
Since mid of the last fiscal year, excess liquidity has emerged as a critical issue in Nepal’s banking sector. With declining credit demand and a slowdown in business activities, banks are struggling to disburse loans, leading to a pile-up of idle funds. As a result, Nepal Rastra Bank (NRB) is facing increasing difficulty managing monetary operations and maintaining the interest rate corridor.
Liquidity Control Measures Intensify
To manage this surplus, NRB absorbed Rs. 30 billion in liquidity on May 26 using a 21-day deposit collection instrument at an average interest rate of 2.96%. Though banks submitted bids worth Rs. 66.40 billion via 28 applications from 20 institutions, the central bank accepted only Rs. 30 billion.
So far this fiscal year, NRB has mopped up Rs. 2.569 trillion through 76 rounds of deposit collections. Similarly, banks have deposited Rs. 1.368 trillion under the Standing Deposit Facility (SDF) just today. Since the beginning of the fiscal year, banks have utilized the SDF 128 times, totaling Rs. 17.588 trillion in unused funds parked at the central bank at a 3% interest rate.
Today alone, banks have handed over Rs. 166.75 billion of surplus liquidity to NRB — a record one-day absorption via deposit instruments and SDF.
Deposit Surges to All-Time High
As per NRB data up to May 23 (Jestha 8), total deposits in banks and financial institutions reached a record Rs. 6.901 trillion. In contrast, total loan disbursement stood at Rs. 5.532 trillion, showing a widening gap between deposits and credit expansion.
Commercial banks hold Rs. 6.165 trillion, while development banks and finance companies have Rs. 735 billion in deposits. However, credit distribution is lagging behind, with commercial banks lending Rs. 4.914 trillion and others contributing Rs. 618 billion.
CD Ratio Shows Room for Lending
Banks are currently maintaining a Credit-to-Deposit (CD) Ratio of only 78.97%, even though they are allowed up to 90% under NRB’s monetary policy. This means banks still have about Rs. 679 billion in loanable funds, but demand remains sluggish.
Declining Interest Rates Amid Stagnant Lending
As liquidity piles up, banks are slashing deposit interest rates, pushing base interest rates downward. Although lending has become cheaper, loan growth hasn't picked up. Bankers say this is a natural consequence of excess liquidity, but admit that low demand is the real barrier.
Long-Term Bonds to Absorb Excess Liquidity
To address persistent liquidity issues, the government plans to issue long-term development bonds targeting productive infrastructure projects. According to the reform roadmap based on the High-Level Economic Reform Commission’s report, the Ministry of Finance will be responsible for identifying projects and issuing bonds offering returns higher than prevailing interest rates.
Credit Expansion Still a Challenge
Experts highlight that deposit accumulation is partly driven by increased remittance inflows, while credit expansion is restricted by both low demand and capital adequacy pressures on some banks. A few banks are reportedly facing regulatory capital stress, with NRB requiring a minimum 8.5% capital adequacy ratio based on risk-weighted assets.
Despite NRB’s relaxed stance on home, vehicle, and share-backed loans, and even with single-digit interest rates, banks have not been able to significantly boost lending. The slowdown in industrial and construction sectors, which are vital for productive investment, is a major concern.
Conclusion
Nepal’s banking sector is stuck with idle cash and weak credit demand. While liquidity instruments and SDF help temporarily, the real solution lies in boosting credit to productive sectors. The introduction of long-term development bonds could provide a pathway to absorb excess liquidity while driving growth — but only if tied to viable, high-return infrastructure projects. Without genuine credit expansion, Nepal’s economic growth targets remain at risk.
