Kathmandu. The government has announced to set up a National Asset Management Company by mid-January to manage the increasing bad loans in the banks.
Finance Minister Swarnim Wagle presented the budget for the upcoming fiscal year in the meeting of both houses of the Federal Parliament today. Wagle said that a national asset management company would be established with special legal powers to manage the increasing bad loans and non-banking assets in the banking sector.
Similarly, Finance Minister Wagle said that a personal credit scoring system would be implemented and peer-to-peer (P2P) transactions would be regulated.
