Nepse drops 57.74 points after NRB enforces stringent measures for microfinance

KATHMANDU: Nepal Stock Exchange (Nepse) on Thursday dropped 57.74 points to close at 2,022.64 points.

The secondary market opened at 2,080.38 points and fell to as low as 2026.97 points in the first half an hour of the commencement of trading for the day. The market index remained almost flat for the remaining trading hours.

According to stockbrokers, the market was affected largely by Nepal Rastra Bank implementing stringent policies for microfinance companies. In the new rule, borrowers who have taken loans from any bank will not get loans from microfinance companies. Likewise, a microfinance institution that proposes an annual dividend distribution of more than 15 percent must deposit 50 percent of the proposed dividend in the general reserve fund.

Fiscal Nepal |
Thursday February 23, 2023, 06:22:30 PM |

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