May Fri 2021 07:52:52
- Dr. Devraj Roka (Kalyan)
Banks are in a position in the world where money is the place to circulate and trade. According to the definite policy made by the government, the bank is trading money. Every country in the world has its own monetary policy and banks operate accordingly. Monetary policy dictates this. What class does this policy trade money for? This determines which category the business leads to. There is a bank that regulates banks. We have Rashtra Bank. The United States has a Reserve Bank. There is a People's Bank in China.
People are not in a position to escape from the bank right now. Most of the people involved in earning income have become slaves of the bank. Until this is stopped, there will be no opportunity to create self-employment and engage in productive work. So this monetary policy needs to change.
The monetary policy of our country is such that the investment sector, especially in the product sector, has not been able to create an environment conducive to investment. Fiscal policy of depositing and spending money on behalf of the government which is also expressed from the budget. What monetary policy has done now is make those who earn have to invest. For example, if you look at the price 20 years ago and look at the current price, those who bought land with a loan from a bank, they became rich. Our financial policy is also helping for this.
The bank is investing only in people who can earn income, who can repay loans, who have business. This is making those who are richer. People who do not have collateral, people who are not able to earn income, the bank does not look at people, that is, does not give loans. There is a saying that if you want to take a bank loan, you should take it by showing your wealth and not by showing it. In the case of Nepal, people who are on income, who can build a house, who can pledge property. Suppose I work, I have to take the money I earned to the bank and pay it back. Apart from home loan, the bank also provides car loan. You do not have the permission required to post. People are not in a position to escape from the bank right now. Most of the people involved in earning income have become slaves of the bank. Until this is stopped, there will be no opportunity to create self-employment and engage in productive work. So this monetary policy needs to change.
(Roka is the executive vice president of the Youth and Small Entrepreneurs Self-Employment Fund.)