KATHMANDU: The Federation of Cottage and Small 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 toward the provision that commercial banks need to invest 11 percent of total loans in small, cottage, and mid-scale industries.

Although some sectors had witnessed positive indicators for investment, the small and cottage industries were still complaining about not getting loans.

In the wake of complaints that small entrepreneurs were not provided concessional loans, a total of 147,807 persons were provided concessional loans till the end of Chaitra 2079BS.

The Federation welcomed the provision of restructuring and re-tabulation of loans within the end of Asar 2080BS by analyzing the 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 a continuation of the refinancing scheme for recovery of the productive sector as agriculture, and small and cottage industries which were impacted badly by the COVID crisis.

RSS