Monetary Policy for the current Fiscal Year 2020/21 has been unveiled by the Nepal Rastra Bank, the central bank of Nepal. The bank has claimed that it has focused on economic stability in the wake of pandemic Covid-19 and achieve 7% of economic growth.
The policy has addressed some demands put forward by tourism-related organizations. It has directed commercial banks, development banks, and financial institutions to prioritize investment loans to aviation, transport, hotel, and tourism sector. It also has directed banks and financial institutions to provide loans at 5% to affected tourism companies and employees affected.
It has directed the operating banks to invest the minimum of 15% of their loan in the agricultural sector and 10% in the energy sector. Among other directives, inter-bank ATM charge is being barred. New finance companies will not be registered this year.
In a twit message, Minister for Culture, Tourism and Civil Aviation Mr. Yogesh Bhattarai has thanked Nepal Rastra Bank for addressing the issues of tourism in its monetary policy.