Nepal Rastra Bank releases 19 points directives for BFIs; interest payment time extended and CRR revised
Mon, Mar 30, 2020 2:01 PM on External Media, Latest, Others,
The Nepal Rastra Bank (NRB) has released 19 point directives for ‘A’, ‘B’, ‘C’ and ‘D’ class financial institutions.
The major directives were regarding the reduced credit reserve ratio for all BFIs and extended time for payment of interest on loans. The interest due for Chaitra end can now be paid till Asadh end of 2077 without any extra charges or penalties.
The CRR has been reduced to 3% while the upper limit for interest rate corridor has been set at 5% and lower limit for deposit collection stands at 2%. The repo rate has been established at 3.5%.
The complete document is as follows:
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