• 17 July, 2020 7:11 pm

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Monetary policy for the current fiscal year

Kathmandu, July 17:

The monetary policy for the fiscal year 2077/78 has been made public, including the arrangement to reimburse the loan from 6 months to one year depending upon the business, on Friday.

NRB has brought monetary policy keeping in mind, the impact caused by the global spread of COVID-19 infection.

Likewise, big mergers have been given priority in monetary policy. The CCD system, which allows banks to lend only Rs 80 for a deposit of Rs 100, has now been increased to Rs 85. The government has set a goal of 7 percent economic growth in the current fiscal year and to accomplish the same goal, some issues have been included in the policy, he said.

NRB has also tightened the rules on cash dividend distribution. Banks with a distributable profit of less than 5 percent will not be allowed to distribute cash dividends.

Similarly, for energy, commercial banks have extended a minimum loan of 10 percent. Monetary policy has made provision for credit investment till 2081 BS.

Similarly, the policy has been formulated to give more motivations to banks and financial institutions to invest in the agricultural sector, said Governor Adhikari.

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