Tuesday, 23 July, 2024

Nepal welcomes Indian investment, assures working capital borrow at reasonable interest rate: Governor Adhikari


By TRN Online, Kathmandu, Feb. 23: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has encouraged the investment from India and convincingly assured that borrowers' loans on working capital will be provided at reasonable interest rates.

Governor Adhikari said so while addressing the 'Roundtable on Managing Working Capital in Nepal and India' hosted by of PHD Chamber of commerce and Industry (PHDCCI) India-Nepal Centre.

Speaking as the chief guest and a keynote speaker, governor Adhikari highlighted the essence of working capital at a time of economic recovery, according to the press release of the PHDCCI.

He provided insights of guidelines of NRB which include provisions of short-term loan extension for six months, monitoring and follow up mechanism,  and that land and building collateral has been removed.

Governor Adhikari also mentioned that productive areas are prioritized for giving loans and that regulatory restrictions will be revised for ease of doing business.

He encouraged the investment from India and ensured the borrowers' loans on working capital will be provided at a reasonable interest rate.

In the post-pandemic times, the unprecedented crisis is yet not completely over as the low demand, underutilized industrial potential and liquidity crunch are posing serious challenges to the industry and at a larger scale the Gross Domestic Product (GDP). In particular, industry in Nepal is facing it acutely and this initiative is meant to voice the concerns of the industry for timely policy interventions to ease the situation for doing business”, said former Indian ambassador to Nepal K V Rajan, Chair, India-Nepal Centre, PHDCCI.

The Roundtable was also addressed by Ram Prasad Subedi, Charge D Affaires, Embassy of Nepal in India, Pradeep Multani, President, PHDCCI, Dipak Kumar De, MD & CEO, Nepal SBI Bank Limited (NSBL), Vishnu Kumar Agrawal, President, Confederation of Nepalese Industries, Badri Narayan Gopalkrishnan, Head-Trade & Commerce, NITI Aayog, Bishal Thapa, Senior Economists, Mahesh Swar, Assistant General Manager, Kantipur Media Group, Chhaya Sharma Panta, Head, Women Leadership Forum of CNI country President, Mohan Gurung, Founder President, Nepal Seattle Society.