Nepal Rastra Bank is set to unveil its 59th monetary policy for the fiscal year 2082/83, aiming to support the government’s target of 6 percent economic growth and 5.5 percent inflation control. This will be the first policy under Governor Dr. Bishwanath Paudel’s leadership, with a plan to expand credit by about 11 percent.
Nepal Rastra Bank is preparing to release the 59th monetary policy for the fiscal year 2082/83. The proposal was presented at the bank’s board meeting on Thursday evening and is scheduled for presentation at the Friday morning meeting. This marks the first monetary policy introduced under the leadership of Nepal Rastra Bank Governor Dr. Bishwanath Paudel.
The policy aims to contribute to the government’s set goals of 6 percent economic growth and controlling inflation at 5.5 percent. It targets an approximate 11 percent expansion in credit for the year.
Implementation of the working capital loan standards will be postponed for one year, while the installment period for small borrowers will be extended by two years. The monetary policy is designed to be more flexible to help overcome the current economic slowdown.
Under the new policy, licenses for new banks will be issued, and foreign joint venture banks will be allowed to expand their market presence in Nepal. Commercial banks will be classified, with sound banks placed under self-regulation and weaker banks receiving focused regulation. Additionally, there will be a comprehensive review of lending criteria, and measures will be implemented to strengthen current liquidity management with an inclusive and liberal approach.
This article was originally published on https://bajarkochirfar.com Translated with the help of AI and reviewed by our editorial team.
