First Business News Portal in English from Nepal
KATHMANDU: Nepal Rastra Bank (NRB) has so far approved refinancing loan worth Rs 142 billion.
NRB governor Maha Prasad Adhikari informed that 48,550 borrowers have received the refinancing loan facility worth Rs 92.38 billion sanctioned by A, B and C class banks and financial institutions. Similarly, a lump sum refinance of Rs 10.23 billion has been sanctioned for 28 microfinance institutions through microfinance institutions.
The central bank has arranged refinancing facility of Rs 190 billion in the current fiscal year to boost the economy affected by COVID-19.
Similarly, the government has provided interest subsidy of Rs 5.63 billion till mid-April under the concessional interest subsidy and 77,196 borrowers have benefited from it, according NRB. As per the policy of the government to provide soft loan at 5 percent interest rate, the interest rate of the bank above that will be borne by the government fund.
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