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NRB unveils new monetary policy

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KATHMANDU — The national bank of Nepal , Nepal Rastra Bank, on Thursday unveiled the monetary policy for the new fiscal year 2016/17 with a goal to achieve objectives of the government’s annual budget statements.

NRB Governor Chiranjibi Nepal unveiled the vital fiscal document amid a special function in the Capital today.

NRB has revised a policy to float loans of the bank and financial institutions (BFIs) against the shares pledge.

According to the revised policy, BFIs will be able to float only 50 percent loans on the valuation of average trading price of the shares of last 180 days or latest market price of the share, whichever is low.

The policy has prioritised flow of capital to various productive sectors including agriculture, energy, tourism, small and cottage industries as well as underprivileged population.

The Policy aims to restrict inflation to 7.5 per cent and achieve the economic growth of 6.5 per cent.

The NRB Governor hoped that the document would help the government maintain economic stability and achieve its fiscal targets.

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PM congratulates Nepali national cricket team

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KATHMANDU— Prime Minister KP Sharma Oli has congratulated Nepali national cricket team for being able to clinch the International T20 series.

PM Oli in a tweet extended best wishes and congratulations saying he was very happy to know Nepal’s win over the UAE by 14 runs in the third match of the series.

Winning T20 series is another landmark success for Nepali cricket, he said, adding, “It is big achievement for Nepal’s cricket. I would like to heartily congratulate entire members of Nepali cricket squad”.

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