NRB Governor Discusses Crisis with Bankers and Industrialists

In the wake of the Gen-Z protests, Nepal Rastra Bank Governor Prof. Dr. Bishwanath Paudel held separate discussions with representatives of bankers’ associations and industrialists to assess the difficult situation facing the country.

During the protests, widespread vandalism and arson targeted banks, financial institutions, industrial enterprises, hotels, and private businesses across the country, including the Kathmandu Valley. The damage has been estimated in billions of rupees. Preliminary figures show that nearly two dozen hotels suffered destruction, leading to losses of around NPR 25 billion and leaving more than 2,000 workers unemployed.

Similarly, automobile showrooms in Thapathali were set ablaze, causing losses worth billions. Private residences and business houses were also damaged, which is expected to result in massive insurance claims in the coming days.

Nationwide, multiple outlets of Bhatbhateni Supermarket faced vandalism, looting, and arson, inflicting further multi-billion-rupee losses and displacing thousands of employees from their jobs.

Governor Paudel emphasized the need to evaluate the overall impact of these events on banks, financial institutions, and private industries. He urged bankers and entrepreneurs to cooperate in finding solutions to the challenges and ensure stability in the financial sector.