Additionally, Rastra Bank has started a major operational overhaul in monetary policy: Adhikari, the Governor

Following the earthquake and COVID, the economy has improved, according to Mahaprasad Adhikari, Governor of Nepal Rastra Bank.

At the 'international conference based on economics, finance and related topics' held on Thursday in Lalitpur by Nepal Open University and Cardiff University, Governor Adhikari stated that the country's economy, which had suffered following the earthquake and COVID-19 pandemic, is progressively recovering, with the construction, industry, and trade sectors having advanced more in the past two years.

The National Bank of Nepal has begun a major operational overhaul in monetary policy in addition to the country's financial reform. In order to increase the effectiveness of monetary policy transmission, these operational modifications are being undertaken progressively. In 2020–2021, the reserve target will be replaced by the interest rate target, following the opening of the interest rate corridor in 2016–17. Fixed deposit facility in 2023–2024 for efficient management of liquidity, recent policy reforms, modernization of monetary policy operations, improvement of credit quality, focus on fintech and digital banking, development of a contemporary payment system and its integration into the global market, and financial strengthening measures,' he stated. We are concentrating on maintaining continuity.

According to him, the National Bank is implementing monetary policy to support the nation's sustainable economic growth, and this conference will aid in the formation of policies as well as the analytical research of Nepal's monetary and economic systems. He stated that in order to guarantee inclusive and sustainable growth in the developed world, Nepal's macroeconomic conditions must be improved, and a flexible finance sector must be established. He remarked that the interconnection of world markets demands governmental coordination to mitigate the impact of global shocks on economic activity.

Governor Adhikari expressed optimism that evidence-based policy insights on monetary policy, financial stability, and general financial development will be presented at the conference. According to him, the conference will advance evidence-based policymaking, foster lively discussion between academic institutions and central banking organizations, and advance the field of economic science.

Our goal is improved monetary and macroprudential policy coordination. In order to ensure that the banking industry can promote sustainable economic development and lower the risk of asset bubbles, we are attempting to direct credit into the productive sector. Additionally, we've been advocating for financial inclusion," he stated.

The Vice-Chancellor of Open University, Shilu Manandhar Bajracharya, stated that significant references for high-caliber research in economics, finance, and related fields will be highlighted during this conference. According to him, the success of this conference will be a significant and highly beneficial development for colleges and other educational establishments in terms of high-caliber research, teaching, and learning. He expressed his conviction that this study will contribute to the effectiveness of higher education offered by Nepali universities.

The purpose of this conference, according to Kul Luintel, head professor of the department of economics at Cardiff University in the UK, is to support Nepali academics' capacity building and networking efforts by giving them a common forum to present and discuss cutting-edge research on economics, finance, management, and related subjects. He told them that the goal of the conference is to help the attendees advance their understanding of finance, economics, and related subjects.

The conference was organized by Nepal Open University in partnership with Nepal Rastra Bank, University Grants Commission, Tribhuvan University, Kathmandu University, Pokhara University, Purvanchal University, Midwest University, Sudurpaschim University, Rajarshi Janak University, and Cardiff University in the United Kingdom to address the issues of financial inclusion, sustainable growth, and regional integration. It was revealed during the conference that some of the subjects touched on were Nepal's development priorities and the UN's sustainable development goals, particularly the reduction of poverty, the promotion of decent work, and sustainable economic growth.

By presenting the most recent results from cutting-edge research on the economy, financial management, and other related topics and debating its fundamental issues, the conference's main goal is to bring together researchers, practitioners, policy makers, academics, and researchers at the international level in order to develop the capacity of Nepal's educational sector. Getting closer to the global network of researchers in the field. The conference's focus is on Nepal's development priorities in relation to the Sustainable Development Goals of the United Nations, particularly as they pertain to reducing poverty, promoting decent work, and fostering sustainable economic growth.

60 economists are attending the two-day conference, representing China, Britain, Norway, and Spain. Ten working papers on economics, finance, and related subjects, written by international scholars and practitioners, will be presented and discussed throughout the conference.