Title Unit 9.docx ✅

 Formulation of the NRB Act of 2002, which granted enhanced autonomy in supervisory capabilities and prudential regulation.  Implementation of BAFIA-2063 and the Public Debt Recovery Act of 2002.  Automation of the clearinghouse and modernization of payment and settlement systems. d) Fourth Phase (2011 onward as Strengthening Consolidation Phase)  Expansion of micro finance financial institutions.  Financial sector development strategy.  Merger and Acquisition Act – 2011.  Financial inclusion,  Financial inclusion survey with 4014 adults from 18 years national level.  Financial literacy,  First Amendment of M&A bylaws on 2016 that can direct BFIs for immediate merger.  Banking and Financial Institutions Act (BAFIA) – 2073 (2017)  Financial Excess to rural people by opening branches of commercial banks in every local unit.  Big Merger policy “The process of reforms or liberalization varies across countries and is dependent upon the prevailing politico-economic features. In some of the developing countries (the Latin American countries, in particular) financial sector reforms