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Monetary Policy reviewed to increase credit: Governor



Governor Maha Prasad Adhikari
Governor Maha Prasad Adhikari (file photo)

Kathmandu, Dec 8: Governor of the Nepal Rastra Bank, Mahaprasad 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 balance of payment and growth rate of the bank loans for private sector among others.

In a press conference organized here today to inform about quarterly review of the policy, Governor Adhikari said that the Nepal Rastra Bank (NRB) had adopted the policy to facilitate the expansion of loan 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 into 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 in view of inflation.