In order to ensure the employment of the employees working in the affected organizations and establishments, the National Bank has instructed the banks and financial institutions to provide cheap loans to the employing organizations/establishments.
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The industries, businesses and commercial establishments directly affected by the unusual situation created during the Zen-G movement will get loans at low interest rates to pay salaries to the employees.
In order to ensure the employment of the employees working in the affected organizations and establishments, the National Bank has instructed the banks and financial institutions to provide cheap loans to the employing organizations/establishments. "In order to ensure the employment of employees working in industries, trade, commercial establishments and economic activities directly affected by the unusual situation created during the Gen-G movement, if the employer organization/establishment applies for a loan to provide wages through the banking system by bringing a payroll protection scheme, the bank will have to add a maximum of 0.50 percentage point premium to the base rate while providing the loan," said the instructions of the National Bank. This type of loan should be disbursed only for one year or the period required for the establishment of the institution, whichever is less.
2 (two) percent interest rate for up to 6 months on the interest rate charged on the loan received in this way will be subsidized by the Government of Nepal. The grant should be provided to the debtor after receiving it from the Government of Nepal.
Rasht Bank has arranged that the relevant employer organization should apply for such a loan by the end of December 2082.
Similarly, the industries that export at least 25 percent of the total production by providing employment to at least 100 women and adding at least 25 percent value will also get loans at low interest rates. For such loans, the National Bank has asked banks and financial institutions to add a maximum of 1 percent premium to their base rate and maintain the loan interest rate.
