Governor Adhikari: Monetary Policy reviewed to increase credit

Kathmandu: Governor of the Nepal Rastra Bank Mahaprasad Adhikari has commented on the review of the monetary policy.

Governor Adhikari said the first quarter review of the monetary policy of the current fiscal is based on various aspects affecting current inflation, the status of the balance of payment, and the growth rate of the bank loans for the private sector among others.

In a press conference organized today to inform about the quarterly review of the policy, Governor Adhikari said that the Nepal Rastra Bank (NRB) had adopted the policy to facilitate the expansion of loans and facilitation for continuity of business for the old good borrowers.

Adhikari informed that the NRB would deal strictly with the debtors not clearing their loans while those debtors who are genuinely in trouble will be facilitated for the loan restructuring.

Furthermore, the Governor shared that the NRB has been requested for disclosure of the internal remittance while the central bank, after studying this, will cap the limit of the transaction amount. He reaffirmed that the NRB is determined to maintain the interest rate corridor as well as to maintain the policy rate given inflation.

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