The Private Sector said-‘Central Bank did not Listen to the Demand for Re-loan, about 1 Trillion of Re-loan Necessary’

Kathmandu : Even though Nepal Central Bank has increased the capital of share mortgage loan and loan to value in real estate loan, the demand related to re-loaning has not been met.

Although the National Bank seems to have met most of the demands of the private sector, the private sector has complained that the demand for refinancing has not been addressed.

Rajesh Agarwal, President of Nepal Industry Confederation, said that the current problem will not be solved until money is sent to the market from the Central Bank, that is, the Rastra Bank. For this, he said, the facility of refinancing must be provided.

He says, ‘National Bank should bring re-loan facility ranging from 50 billion to 1 trillion rupees. The time and facilities for re-scheduling loans should also be increased.

The National Bank has revised the integrated guidelines and imposed a capital of up to 150 million for individual and 200 million for institutional loans on share mortgages. Earlier, after 120 million was kept, there was all-round opposition. Similarly, the National Bank has amended the points of the integrated directive and said that the restructuring and rescheduling of loans can be done by the mid of January.

Agarwal demanded to increase the facility of re-scheduling of loans and demanded that the government should also increase the capital expenditure. He is of the opinion that the market will be eased if the arrangements for immediate payment of the builders can be arranged.

Chandra Prasad Dhakal, President of the Federation of Nepal Chamber of Commerce and Industry, has also said that the National Bank should facilitate refinancing to facilitate the market. In the current situation, the businessmen’s activity has reached zero, so refinancing is necessary, he said, “This issue raised by the private sector has not been addressed.” Central Bank is not only flexible for refinancing.

Must be ready. Even when big festivals like Bada Dashain and Tihar are around the corner, it is not good to have zero market and business activity. Similarly, the Nepal Chamber has also expressed its displeasure with the Central Bank saying that the demand for re-loaning has not been addressed.