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Big Splash water park comes into operation in Pokhara

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POKHARA — A ‘Big Splash’ water park has come into operation in Pokhara from Thursday.

The water park has been constructed on 13 ropani land at Kudahar, Pokhara Lekhnath Metropolitan City-14. Aarya The Resort and Fun Pvt Ltd constructed the park.

According to the Company Managing Director Ameet Raj Mulmi, a total of Rs 110 million was invested for the construction of the park.

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Mulmi informed that construction of various structures at the park have been carried out in a way that would facilitate people of all ages, from children to senior citizens.

Company Chairperson Ananda Raj Mulmi said that the water park was constructed targeting tourists coming to the lake city and is expected to offer full entertainment to the visitors.

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NRB to unveil monetary policy today

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KATHMANDU — Nepal Rastra Bank is unveiling the Monetary Policy 2018-19 on Wednesday, introducing a provision whereby domestic commercial banks will be able to hedge against convertible foreign currency by borrowing from foreign banks.

The central regulatory and monetary authority has opened a borrowing facility from foreign banks to meet the credit requirement in the production and infrastructure sectors, according to central bank sources.

The Monetary Policy is expected to bring down the cash reserve ratio from six per cent of the current fiscal to five per cent, eyeing the liquidity scenario.

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The monetary policy for the next fiscal will also narrow down the weighted interest spread rate from five per cent. In the context of commercial banks not being able to meet the priority sector lending mainly in the agriculture sector, the monetary policy is likely to extend a year’s period for banks to meet the priority sector or productive sector lending provision.

The Financial Sector Development Strategy of the government has also envisioned narrowing down the weighted interest rate spread.

According to the sources, the monetary policy would ease the provision of margin lending due to the depression witnessed in the stock market.

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