NRB to make subsidised loans accessible to small, medium enterprises


, May 21

Rastra Bank has decided to reduce the maximum limit of within a few days to ensure that have access to the subsidised facility of the .

Gunakar Bhatta, spokesperson for NRB, said the central bank would soon reduce the maximum limit of such loans issued to businesses and simplify procedures to acquire loans primarily to ensure that more businesses have access to these loans, specially SMEs.

Though NRB is providing loans under its refinancing facility, only large businesses had been accessing such facilities from the central bank.

Currently, businesses can take up to Rs 500 million through refinancing facility of the central bank at an interest rate of up to five per cent. However, since the number of loan-seekers for the government’s refinancing facility is increasing and is expected to further rise due to the impact of COVID-19, the central bank is working on reducing the limit for to Rs 100 million.

Earlier, Governor Maha Prasad Adhikari had publicly said the maximum limit of refinancing loans for businesses would be brought down to around Rs 100 milli

Read the full story on The Himalayan Times

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