Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Nepal Rastra Bank concluded mid-term review of the Monetary Policy for the current fiscal year of Thursday. Here are the major changes made:
1. Interest rate corridor increased by 2%, 2 Weeks Deposit Collection ( Reverse Repo – at 4%, Repo Rate – 5.5% & Bank Rate / SLF 7%) 2. Maximum interest rate for Refinanced Loan – 7% from 5% 3. Study shall be conducted for differentiation of interest charged for productive sector loans and other loans 4. Risk weight shall be reviewed (increase) for TR Loan, import Loan, Real estate Loan, Personal Hire purchase loan, Land plotting loan & Margin Loan etc 5. Infrastructure Bank can issue Power Bond 6. Requirement of Targeted Sector Lending shall be revisited for Commercial Banks to make it Bank Specific limits based on their Nature of Business ( For Example : SESME requirement for SCB might be lowered ) 7. Provisions of Import from India Based on Credit Facility shall be reviewed 8. FCY Account Operation Guideline for NRN shall be reviewed 9. Limit for domestic remittance to be paid through agents or subagents shall review
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