Expansionary financial policies

KATHMANDU: The Confederation of Nepalese Industries, on Sunday, urged Nepal Rastra Bank to adopt expansionary financial policies to cope with the unfavourable situation caused by the coronavirus.

Meeting NRB Governor Maha Prasad Adhikari, a CNI delegation led by its President Satish Kumar More said that expansionary policies would increase people’s access to finance.

Similarly, CNI also said that NRB and the government should defer all types of payments from businesses and industries, including taxes, till mid-July and further defer payment period if lockdown is extended.

CNI also said NRB should urge commercial banks to give seven per cent interest on fixed deposits and five per cent interest on normal savings deposits.

A version of this article appears in e-paper on April 13, 2020 of The Himalayan Times.