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Economy

Yarsa collection charge increased

Gorkha Post

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TRIPURAKOT — Extra charge of Rs 500 has been slapped for collecting Yarsa in the mountainous district, Dolpa, from this year.

A discussion held at Se-Phoksundo National Park on the presence of local governments’ chiefs, district coordination committee, district administration office and other stakeholders took the decision that each Yarsa picker should pay extra Rs 500 from this year as per the Yarsagumba Management Directive.

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According to the Directive, the Buffer Zone Management Committee can charge extra Rs 500 from each Yarsa picker as a service charge, said Conservation Officer of Se Foksundo National Park, Ramdev Chaudhary.

The amount collected will be spent for conservation education, poaching prevention and various programmes on bio-diversity conservation, the National Park sources said.

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Economy

NRB to unveil monetary policy today

Gorkha Post

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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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