The Federation of Small and Cottage Industries has welcomed the third quarterly review of monetary policy unveiled recently by Nepal Rastra Bank (NRB). It stressed the objective implementation of the review.
The Federation drew NRB's attention towards the provision that commercial banks need to invest 11 percent of total loan in small, cottage and mid-scale industries. Although some sectors had witnessed positive indicators for investment, the small and cottage industries were still complaining of not getting loan.
In the wake of complaints that small entrepreneurs were not provided concessional loan, a total of 147,807 persons were provided concessional loan till end of Chaitra 2079BS.
The Federation welcomed the provision of restructuring and re-tabulation of loan within end of Asar 2080BS by analysing cash flow and income of industries and enterprises against the loan up to Rs 20 million.
Also taken positively by the Federation on monetary policy is continuation of refinancing scheme for recovery of the productive sector as agriculture, and small and cottage industries which were impacted badly by the COVID crisis.
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