Kathmandu. Nepal Rastra Bank (NRB) has released its monetary policy review. Nepal Rastra Bank (NRB) has made the final review for the current fiscal year.
The review has reduced the burden on share mortgage. It has been stated that the risk weight of existing share mortgage loans will be reduced from 125 percent to 100 percent.
In the policy system, the course of monetary policy has been carefully balanced based on the internal economic and financial situation and scenario. The policy rate has been kept unchanged at 50 per cent, the deposit collection rate at 3.0 per cent and the bank rate at 6.5 per cent as the upper limit under the interest rate corridor.
The existing mandatory cash reserve to statutory liquidity ratio has been kept unchanged. Keeping in view the existing liquidity situation of the financial system and the recent improvement in the open market transaction instruments of the bank, banks and financial institutions will have to maintain a minimum mandatory cash reserve of 90 percent per day.
Nepal Rastra Bank (NRB) will issue the Foreign Investment and Foreign Debt Management Bye-laws, 2078 incorporating the provisions of the latest amendments to the Foreign Exchange (Regulation) Act, 2019 and the Foreign Investment and Technology Transfer Act, 2075 to improve the investment environment.
According to the amendment to the Banking Offences and Punishment Act, 2064, a procedure will be formulated and issued to certify the details related to dishonour of cheques.
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