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Banks told to make deprived sector lending in phase-wise manner

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Nepal Rastra Bank (NRB) has instructed commercial banks to disburse at least two percent of their total loans to the deprived sector directly by themselves.

Issuing a new circular on Monday, the central bank said banks should make 2 percentage points of the five percent lending to the deprived sector by mid-July 2017. Ending the facility of whereby banks could make 5 percent of their deprived sector lending throughout a fiscal year, the central bank made it mandatory for banks to make 1.25 percent lending to deprived sector by mid-September, 1.5 percent by mid-December and 1.75 percent by mid-April 2017.

For more on this story visit the following link: Banks told to make deprived sector lending in phase-wise manner

Source: MyRepublica

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