Monetary policy will come within third week of July

KATHMANDU: Nepal Rastra Bank (NRB) is preparing to bring monetary policy for the fiscal year 2021/22 within the third week of July.

According to NRB sources, the central bank will introduce the monetary policy that will help in boosted the coronavirus ridden economy.

The bank has sought opinions and suggestions from stakeholders so that the monetary policy can be made more realistic. The bank has asked the stakeholders to send suggestion via email at the research department. NRB has stated that most of the suggestions received so far have been focused on the demand for concessions from the banks and financial institutions.

Nepal Rastra Bank announces monetary policy to support the economic growth target set by the budget. Besides, maintaining financial stability while keeping inflation under control is the top priority of monetary policy.

Through the budget, the government has already announced to provide up to Rs 2.5 million loan by pledging educational certificates. The policy is likely to help in the implementation plans of such loans.

Similarly, the policy is likely to come with substantive ideas on the effective implementation of concessional loan and extension of the installment payment period