Speaking in the meeting of Finance Ministry, Governor Nepal opined after studying growth rate of agriculture, industry and service sector of the last two years , the central bank could claim that the country will maintain 8 percent growth rate in the current FY.
Nepal informed that NRB is working toward achieving the 8 percent growth rate through formulating various mechanisms in Monetary Policy.
As per NRB, the deposit collections of BFIs have reached Rs 2742 billion which is 91.2 percent of total GDP. Similarly, loan extensions of BFIs have increased by 22.5 percent to Rs 2400 billion toward private sector which is 79.8 percent of total GDP. The country has current cash balance of Rs 138 billion.
Moreover, Governor Nepal informed that the spread rate will be limited to Rs 4.4 percent within next three years.
