Kathmandu. Current fiscal year 2082. The monetary policy of 83 is expected only in the second week of the first quarter.
According to the Nepal Rastra Bank Act, 2058 BS, the annual monetary policy should be brought within 15 days of the beginning of the new fiscal year. Every quarterly and half-yearly review should be brought within 45 days of the end of the quarter.
According to this provision, the central bank has to bring the monetary review of the first quarter of the current fiscal year by Monday, i.e. November 30. However, the monetary policy is unlikely to come this week as Governor Bishwanath Poudel is out of the Valley.
According to Guru Prasad Poudel, spokesperson of the Nepal Rastra Bank, Governor Poudel is out of the Kathmandu Valley. “Maybe he’ll be back in 1-2 days. However, it is highly unlikely that the monetary review will come this week,” he said, “but since the monetary review has to be brought within 45 days of the end of the quarter, it may come by December 30.” ’
Spokesperson Poudel said that work is being done in a procedural manner to prepare the monetary review. “Inter-departmental works are underway”, he said, adding, “The review will come on the stipulated date”. ’
Industrialists and businessmen are optimistic that the monetary review will bring a policy arrangement to stimulate the economy. The policy provisions related to the stock market have been incorporated almost in the annual monetary policy of the current fiscal year.
Market expert Prem Wali says that the limit of loans that banks can issue in the stock market should be increased. “I think banks can now lend up to 15 percent of their core capital in the share market,” he said, “Due to this limit, most of the banks are able to lend additional loans in the share market.” There has been a demand for loans from other sectors as well. Therefore, this limit should be increased through monetary review. ’
Oli argues that the credit investment in the stock market is safe and the revenue received by the government will also increase when the market catches the rhythm. “Therefore, it is necessary for the NRB to think about this issue,” he said.
Industrialists and businessmen say that the private sector is discouraged from taking loans as investment security is guaranteed. “The private sector has been fed up with various types of agitations from time to time,” they say, “On the other hand, the policy provisions come in the interest of the government rather than the governor of the Rastra Bank.” However, Nepal has never had a stable government. As the government changes, the policy system changes. So, if the governor can bring in a stable policy regime during his tenure, the private sector will be confident and the economy can also be revitalized. ’
