Monetary Policy Encourages Microfinance Institutions for Merger

KATHMANDU, JULY 27: Nepal Rastra Bank (NRB) has unveiled the monetary policy for the current fiscal year with a target of encouraging mergers among microfinance institutions. The monetary policy, announced yesterday, has prioritized protecting clients' interests in response to complaints regarding the services of such institutions.

NRB Governor Maha Prasad Adhikari said necessary regulatory arrangements would be implemented, prioritizing the protection of clients' interests based on international good practices.

The monetary policy has made arrangements for a contemporary review of regulatory arrangements related to the interest rates on loans and service charges by microfinance institutions, as well as rescheduling loans by paying a certain percentage of interest for customers who are unable to pay their loans to the microfinance institutions. -RSS

 

 

 

 

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