Nepal, Dec. 16 -- The latest quarterly review by the Nepal Rastra Bank (NRB) paints a healthy yet concerning picture of Nepal's economy. The surface is green-remittances have surged by 35.4 percent to a staggering Rs553.31 billion, foreign exchange reserves cover over 16 months of imports, and the central bank has slashed the policy rate to 4.25 percent to spur growth. But walking into any industrial estate or talking to any small- and medium-sized enterprise owner, a different reality is revealed: Banks are flush with cash, yet credit expansion is paralysed, non-performing loans climb and banks accumulate tens of billions of rupees in foreclosed property they cannot sell. This is a structural failure, with roots in incentives, governance...