Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has unveiled the Monetary Policy (MP) for the current Fiscal Year 2020/21 on July 17, 2020.
The utmost goal of the monetary policy is to achieve economic stability and reach economic growth of 7% in the current fiscal.
Major Highlights of the Monetary Policy FY 202/21
- Banks should invest 15% of their total loan portfolio in the agriculture sector and 10% in the energy sector
- Banks can issue energy bond refinancing loan facility for SMEs at 2%
- Previous loan installment and interest payment period as of mid-July has now been extended till mid-December
- Moratorium on loan, interest rate recovery deadline extended till mid-December
- CCD ratio for banks increased to 85% from existing 80%
- No Issuance of licenses for new finance companies
- No charging fees on interbank ATM withdrawal
- Provisions for merger and acquisition of BFIs
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