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NADA Automobiles Association of Nepal has requested Rashtra Bank to maintain the limit of loan-to-value ratio of vehicles at 80 percent.
The request was made by NADA in response to the semi-annual review of the monetary policy of the National Bank for the financial year 2081/82. "In the review, the National Bank has said that the limit of loan-to-value ratio for personal vehicles and all types of electric vehicles will be maintained at 60 percent," said a statement issued by NADA, "When the same provision is made in relation to electric vehicles, a situation has been created that will cause great distress to businessmen engaged in this business." NADA has complained that despite requests to the bank, it is not being followed. "The government has decided to give high priority to green energy as a matter of policy and accordingly the government has been providing special facilities to electric vehicles since the past, so this review seems to ignore the said policy of the government," said NADA in a statement.
