Nepal Rastra Bank. (File photo)
KATHMANDU: Nepal Rastra Bank has approved Rs. 13.61 billion for refinancing in first six months of current fiscal year 2021/22.
Rastriya Banijya Bank has made itself the largest refinancing bank in the first six months of the current fiscal year by refinancing Rs 1.45 billion during the period.
According to the Nepal Rastra Bank, refinancing of Rs. 13.61 billion has been approved till mid-January of the current fiscal year.
Most of the approved refinancing is seen in the tourism sector. As of mid-January of the current Fiscal Year, tourism sector has got the approval for refinancing of Rs. 6.79 billion. According to the NRB, about half of the approved refinancing has gone to the tourism sector, i.e. 49.89 percent.
NRB data show that hydro power sector has been the second in getting largest sum under refinancing approved. This sector managed to get 23.80 percent or Rs 3.24 billion approved.
Similarly, the bank has approved 8.84 per cent or Rs 1.20 billion for manufacturing sector, 6.28 per cent or Rs 854.9million for education sector, 5.05 per cent or Rs 687 million for hospital sector and 2.48 percent or 337.5 million for construction sector.
Similarly, according to Nepal Rastra Bank, refinancing amount of 1.47 percent or Rs. 200 million has been approved for food production and 1.12 percent or Rs. 152.2 million for transportation.
Similarly, refinancing amount of 0.68 percent or 93.2 million rupees has been approved for trade and 0.40 percent or 54.7 million rupees for clothing in the first six months of fiscal year 2021/22.
Province wise details
On a province-by-province basis, most of the refinancing loans have been approved in Bagmati province. Its share is 52.15 percent. As of mid-January of the current Fiscal Year, refinancing of Rs. 7.10 billion has been approved in this state. Similarly, 18.24 percent or Rs 2.48 billion refinancing has been approved in Gandaki.
Likewise, according to NRB, 13.04 per cent or 1.77 billion has been approved for refinancing in Lumbini, 1.22 per cent or 1.66 billion in Province 1, 3.62 per cent or 492.6 million in Madhes and 0.72 per cent or Rs 98.4 million in the Sudurpaschim province so far.
Rastriya Banijya Bank has become the biggest refinancing institution till mid-January of the current fiscal year. During this period, the bank has provided refinancing of Rs 1.45 billion. Similarly, Bank of Kathmandu refinanced Rs 1.13 billion during the period.
According to NRB, Nepal Credit and Commerce (NCC) Bank has disbursed Rs. 609 million to five different companies and firms till mid-January of the current fiscal year. Similarly, Everest Bank disbursed Rs. 429.6 million for refinancing, Garima Development Bank Rs. 47.5 million, NMB Bank Rs. 488.9 million, Nepal Bangladesh Bank Rs. 340.8 million, Prabhu Bank Rs. 887.5 million and Sanima Bank Rs 464.4 million in first half of the current fiscal year.
Similarly, Sunrise Bank Limited and Nepal Bank Limited have each distributed Rs 200 million in refinancing. Likewise, Rs 895.5 million was distributed by Prime Commercial Bank, Rs 383.9 million by Nabil Bank , Rs 124 million by Laxmi Bank , and Rs 513.6 million by Siddhartha Bank. Likewise, Jyoti Bikas Bank distributed Rs 157.4 million rupees under refinancing heading.
NRB informed that NIC Asia Bank distributed Rs 548.5 million, Global IME Bank Rs 207.5 million, Shine Resunga Development Bank Rs 330 million, Machhapuchhre Bank Rs 473.9 million, Himalayan Bank Rs 460.5 million and Lumbini Development Bank Rs 390.5 million for refinancing in the first six months of this fiscal year.
Likewise, Standard Chartered Bank refinanced Rs 504.7 million, Kumari Bank Rs 284.1 million, Mega Bank Rs 624.7 million, and Nepal Investment Bank Rs 361.6 million till mid-January.