Now banks and financial institutions should publish the quarterly financial report within 15 days and the fourth quarter report within 30 days.
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Now, when visiting a third country other than India, Nepalis will get foreign currency exchange facilities equal to 3000 US dollars per person through their passports. Before this, there is a provision to get foreign exchange equal to USD 2,500 per person.
Through monetary policy, the National Bank modified the system and made it 3000 dollars. The system has been implemented since Thursday.
"Official visit facilities can be provided by depositing in a convertible foreign currency account (including opening a new account)," the circular said. The National Bank has implemented the monetary policy for the financial year 2082/83.
Through the monetary policy, the loan limit for the construction and purchase of private residential houses has been increased from 20 million to 30 million, the personal share loan limit has been set at 250 million, the loan-to-value ratio for the construction and purchase of the first house has been maintained at a maximum of 80 percent and for others up to a maximum of 70 percent.
Nepal Rastra Bank issued a circular on Wednesday and instructed to implement most of the arrangements made through monetary policy. Some provisions related to policy changes have not been implemented. Experts say that both the housing loan limit and the loan ratio will increase, which will help make the real estate sector sustainable.
2080 October earthquake-affected areas such as Jajarkot, Rukum, and other areas affected by the earthquake, the borrowers will also get some relief for open-purpose personal loans including loans to businesses operating in the areas and residential house loans taken by common people living in those areas.
The monetary policy stipulates that upon their request, banks and financial institutions can reschedule or restructure the loan subject to the conditions set by collecting at least 10 percent of the interest to be paid on the basis of need and justification after analyzing the borrower's cash flow and income.
'Such rescheduling or restructuring must be done by the end of October 2082,' the circular says, 'Thus, at the time of rescheduling or restructuring, the loans must be classified in the same category.' Now investors will get margin loans of up to 25 million in share securities.
