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FNCSI to host Job Fair in Biratnagar

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BIRATNAGAR — Federation of Nepal Cottage and Small Industries (FNCSI) Morang is set to hold a three – day Job Fair in Biratnagar.

FNCSI Morang President, Narendra Humagain, at a press conference held on Monday said the fair will take place from April 20 to 22.

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He added that during the fair opportunities for employment will be searched along with competent employees. The fair is also expected to work as a bridge for facilitating coordination among different organizations.

At least 200 industrialists are taking part in the fair which could provide employment to around 500 jobless youths.

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Economy

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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