Kathmandu August 9–Governor of the Nepal Rastra Bank (NRB), Chiranjibi Nepal, has asked the bankers as well as businesspersons not to show shady attitude for the sake only profits.
While speaking at an interaction program held jointly by the Nepal Bankers’ Association (NBA) and Society of Economist Journalists of Nepal (SEJON) today in the capital, he came with such remarks.
“On the one hand, the bankers say that the central bank should take their cash when they have enough of it. On the other, the businesspersons often do not borrow loans when there is sufficient liquidity in the market,” he says charging,” The tendencies shown by both the two parties are cunningly profit-oriented.”
The governor also clarified that the central bank reduced the limit of personal overdraft loan in order to prevent the flow of fund towards speculative purposes like real estate and stock market
The Monetary Policy for Fiscal Year 2018/19 reduced such limit to Rs 5 million from Rs 7.5 million considering the acute shortage of lendable fund the banking industry is facing.
‘As far as the ceiling of overdraft loan that is used for business and industrial purposes, we have not tightened it. Rather the central bank is carrying out a study on how to make the overdraft facility for business motives more secure,” Nepal divulges.
