Loans at five percent interest rate for industries affected by COVID-19

May 28, 2020 06:08 PM Merolagani

The government is to provide loans at five per cent interest rate for cottage and small industries affected by COVID-19.

Presenting budget estimates for the fiscal year 2020/21 at the joint meeting of the federal parliament on Thursday, he shared that a separate fund worth Rs 50 billion has been set up for operating trade and paying salaries to workers and employees of tourism sector and cottage and small industries. To be operated by Nepal Rastra Bank, amounts to be deposited in the fund come from government and public corporations under the government and donor agencies.

Likewise, the relief programmes launched by the government to prevent and control the infection and ease difficult life of the people caused by it will continue.

Funds have been managed to distribute one-fourths of food items in relief to those workers affected by the infection who are not associated with any food programmes and employment programmes launched in cooperation with the federal, state and local levels, he said.


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Net Profit of Civil  Bank Decreases by 35%

Aug 14, 2020 09:06 PM

The net profit of Civil Bank (CBL) has decreased by 35.40 percent in the fourth quarter of the last FY. The bank earned a net profit of Rs 457 million in the review period compared to Rs 700.7 million of the corresponding period of the previous FY.