The Nepal Rastra Bank has launched the Monetary Policy for the fiscal year 2021/22 with an objective to revive and promote COVID-19 affected industries and enterprises.
NRB Governor Mahaprasad Adhikari unveiled the policy that has given continuation to the loan to restore the business plagued by the effects of COVID-19. The monetary policy for the ongoing new fiscal year addresses the concerns of the hotels, tourism, and aviation sectors that have been hit the hardest by the pandemic since its breakout in the country in January 2020.
It also pays special attention to those sectors facing issues in cash flow due to COVID-19. The policy has a provision loan of up to Rs 200,000 for the maintenance of the public transports that were also affected due to the pandemic.
In the new monetary policy, the scope of financial sources’ mobilisation has been expanded.
Remittance is coming to the country in high volume, boosting consumption and increasing the people’s purchasing power. Those depositing the remittance in the banks and financial institutions could get an additional one per cent interest as well, informed Governor Adhikari.
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