Kathmandu. The government has directed the Nepal Rastra Bank (NRB) to make various arrangements to provide relief to industrialists and businessmen affected by the Genji agitation.
The meeting of the Council of Ministers held on September 21 directed the Nepal Rastra Bank (NRB) to make arrangements to provide relief to the agitating industrialists and entrepreneurs. The central bank has been directed to extend the period for payment of principal and interest to the industrialists, business and business establishments who were directly affected by the extraordinary situation created during the Genji movement.
The government has directed the Nepal Rastra Bank (NRB) to provide loans at concessional rate by adding a premium of only 0.5 percent to the base rate to rehabilitate and operate such industrialists, business, business establishments and economic activities.
Likewise, the NRB has been asked to set the loan-to-value ratio at least 80 per cent in case of damage to vehicles and transport vehicles being used commercially in economic activities and new purchases. The government has also asked the government to provide loan by adding a maximum of 0.5 percent premium on the base rate and a 2 percent grant for six months from the National Reconstruction Fund on this loan if the salary is provided through the banking system by bringing a payroll protection scheme to ensure the employment of the employees working in economic activities.
Likewise, the government has directed the NRB to make arrangements for the operation of regular services through the Trade Facilitation Office, the Bank and Financial Institution and the Revenue Collection Office during the Dashain holidays.
