KATHMANDU: Nepal Rastra Bank (NRB) has received an application for the refinancing of Rs. 72 billion.
By mid-October, 44 banks and financial institutions have applied for the refinancing.
To provide relief to the industries and businesses affected due to COVID-19, the NRB had announced through the monetary policy to provide refinancing at a five percent interest rate as a relief.
NRB has arranged to apply for refinancing to the concerned bank by mid-October and provide lump-sum refinance to the concerned bank after collecting all the applications.
NRB has expedited the process by giving loans to those who have applied for refinancing within November.
On Sunday, NRB has discussed with the concerned agencies and has committed to complete the application by mid-October and disburse the loan by November.
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