Monetary policy 2024/25: New policy facilitates five provisions of budget

The new monetary policy for the current fiscal year 2024/25 has some special arrangements to implement and facilitate various five provisions in the budget of the current fiscal year.

Unveiling the new monetary policy today, Governor of Nepal Rastra Bank Maha Prasad Adhikari said that the new policy will ease off the process to obtain loan on mortgage of agricultural products.

Similarly, the central bank, through the new policy, has made further easier the provision of the budget to provide loans without collateral based on the assurance of the remittance from those foreign migrant workers obtaining labor permit and to encourage the loan flow from the banks and financial institutions for innovation.

To address the problems existing in the cooperatives, the new policy seeks to facilitate the government for the implementation of the system of refunding the money of saver members of the cooperative up to Rs 500,000 on the security deposit on assets that is in the name of the cooperative's proprietor or members of the same family.

Furthermore, the new policy has special provision to promote entrepreneurship as mentioned in the budget. The new policy will facilitate aspiring entrepreneurs loan in easy and simple manner.