Monetary Policy: Loan Consolidation to be discouraged
The monetary policy for the current fiscal year was announced by the Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari.
KATHMANDU: Nepal Rastra Bank (NRB) is going to control the centralization of loans.
The monetary policy for the current fiscal year was announced by the Governor of NRB, Maha Prasad Adhikari.
The monetary policy was announced today at a press conference held at the Central Bank’s Baluwatar headquarters. The central bank has discontinued the refinancing facility provided during the COVID-19 period. He stated that some changes had been made in the arrangement of required re-loans in the re-loan facility.
In response to internal problems caused by the conflict between Russia and Ukraine, the Central Bank has adopted a policy of maintaining foreign currency reserves to cover imports of goods and services for up to seven months.
The monetary policy has taken into account the government’s goal of maintaining economic growth of 8% in the current fiscal year while keeping price increases to 7%. Monetary policy’s goal is to make credit available to the productive sector.
The maximum loan amount is Rs 12 crore.
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