Kathmandu. Kathmandu: Nepal Rastra Bank (NRB) is going to review the existing arrangement regarding dividend distribution of microfinance institutions.
In the monetary policy for the upcoming fiscal year unveiled at the Rastra Bank today, the policy has been taken to review the existing arrangement regarding the distribution of more than 15 percent dividend (cash or bonus) annually by microfinance financial institutions as per the existing arrangement.
Similarly, rs. 10,000 has been disbursed to the youth going for foreign employment with or without collateral. According to the monetary policy, loans up to Rs 300,000 can be counted as loans of the poor. In the case of women, such loans are maximum Rs. 5 lakh will be done.
In order to increase the utilization of loans by ensuring that the loan of microfinance financial institutions reaches the target category through the monetary policy, the provision regarding the target category, the criteria for obtaining loans and the eligibility of the borrower will be reviewed for microfinance.
Similarly, rastra bank has taken a policy to review the limit arrangement of poor people and other directed loans from banks and financial institutions.
