KATHMANDU:- A business entity has commented that the monetary policy unveiled by Nepal Rastra Bank (NRB) for the fiscal year, 2082/83 was positive, for it would facilitate financial transaction.
Monetary policy is expected to ensure economic vibrancy and credit flow, according to Nepal Chamber of Commerce.
Issuing a press statement today, Chamber argued if 12 percent credit spread aimed by the policy is fulfilled, it would address the liquidity problem. “The upper limit of credit corridor has been reduced to 6 percent from 6.5 percent and policy rate reduced to 4.5 percent from 5 percent. It helps address liquidity and limit interest rate,” the press release stated.
Also welcomed by the business entity was the expansion of credit flow from Rs 20 million to Rs 30 million for the realty business- purchase and sale of house and land. It will help make national economy dynamic, Chamber concluded.
The sluggishness in the construction sector would be wiped out by the monetary policy, it said, adding that the provision of need-based amendment in view of entrepreneurship/business relating to agriculture, small and cottage industry, education, health, sports, communications and media for loan is also a welcome step.(RSS)