Kathmandu. Nepal Rastra Bank (NRB) has directed higher purchase lending companies to provide loans up to 60 per cent on electric vehicles (EVs).
The central bank has made such a provision by making the fifth amendment to the Policy and Procedural Provisions, 2070 to approve the companies giving higher purchase loans. According to the amended provision, companies providing higher purchase loans will now be able to maintain the loan price ratio up to a maximum of 60 percent on all types of electric vehicles and other private vehicles. Earlier, the loan price ratio was maximum 80 percent.
Other vehicles will be allowed to lend up to a maximum of 80 percent.
Nepal Rastra Bank (NRB) has amended the provision of companies providing higher purchase loans to implement this provision taken through the half-yearly review of the monetary policy of the current fiscal year. The Rastra Bank has now directed to do so accordingly.
