NRB Unveiled Monetary Policy For Fiscal Year 2021/22

NRB Unveiled Monetary Policy For Fiscal Year 2021/22

Aug. 13, 2021, 9:51 p.m.

Nepal Rastra Bank Governor Maha Prasad Adhikari unveiled The Monetary Policy for the fiscal year 2021/22 projecting that inflation would be contained at 6.50 percent.

Unveiling the monetary policy, Governor Adhikari announced the monetary policy is focused on increasing the broad money by 18 percent on the basis of the nominal GDP growth target. He also said that the polcy o support the economic growth target,

e also announced plans to maintain records of digital transactions and settle digital transactions that take place within the country by interlinking digital payment tools. The central bank has also announced plans to establish a national payment gateway to introduce payment cards.

The cash reserve ratio is to be maintained the same as in the past fiscal year, at 3 per cent. He also announced a number of incentives for banks and financial institutions going for merger. It has also set a ceiling of Rs 120 million from banks against the deposit of shares.

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