Kathmandu: A business entity has commented that the monetary policy unveiled by Nepal Rastra Bank (NRB) for the fiscal year 2082/83 was positive, as it would facilitate financial transactions. The monetary policy is expected to ensure economic vibrancy and credit flow, according to Nepal Chamber of Commerce.
According to National News Agency Nepal, the Chamber issued a press statement today, arguing that if the 12 percent credit spread aimed by the policy is fulfilled, it would address the liquidity problem. “The upper limit of the credit corridor has been reduced to 6 percent from 6.5 percent and the policy rate reduced to 4.5 percent from 5 percent. It helps address liquidity and limit the interest rate,” the press release stated.
The business entity also welcomed the expansion of credit flow from Rs 20 million to Rs 30 million for the realty business, specifically the purchase and sale of houses and land. The Chamber concluded that this expansion will help make the national economy dynamic.
Additionally, the Chamber mentioned that the sluggishness in the construction sector would be alleviated by the monetary policy. It further noted the provision of need-based amendments in view of entrepreneurship and businesses relating to agriculture, small and cottage industry, education, health, sports, communications, and media for loans as a welcome step.