The board of directors meeting of the NRB approved the monetary policy today on Friday, July 17, after which, the central bank is preparing to issue the policy today afternoon, as per a source of NRB.
According to NRB, the monetary policy has been prepared so that to tackle the difficult situation created by COVID-19. Particularly, the monetary policy contains the mechanism that will give relief to the industrialists who are hard-hitten by the lockdown imposed by the government to curb the spread of COVID-19.
The source said that the relief package will go parallel with the impact caused by the pandemic.
The central bank will provide refinancing facility at 5 percent interest rate to the pandemic ridden industrialists. Monetary policy will focus on the small, cottage and microcredit in particular.
