Kathmandu. Nepal Rastra Bank is going to give top priority to Big Merger in the upcoming monetary policy. NRB is about to take a new policy to halve the existing commercial banks according to the market of Nepal's economy. At present, there are 27 commercial banks in the country. NRB Deputy Governor Chintamani Shiwakoti said that the banks would be encouraged to merge with the conclusion of reaching half of it.

The NRB is preparing to bring monetary policy by achieving the 7 percent economic growth target set by the government through the budget. Deputy Governor Shivakoti said that the NRB will bring monetary policy to maintain financial stability.

The NRB is going to come up with a monetary policy including interest capitalization, rescheduling and restructuring scheme of loans to meet the needs and impact of the entrepreneurs affected by the Covid. Monetary policy is preparing to bring relief package for those most affected by KVID and relief package for those affected moderately. Similarly, NRB is going to take a policy of providing less relief to the less affected entrepreneurs.

NRB is going to bring new procedure for refinancing from the next fiscal year. NRB is preparing to bring a refinancing package of Rs 5 trillion to provide relief to the entrepreneurs who have been shut down due to COVID-19. The loan, which will be provided at 5 percent interest, will focus on small, household and micro loans. He said that monetary policy will be brought by focusing on job creation.

The refinancing procedure 2077 prepared by the NRB is going to make arrangements to provide loan up to 5 times of the refinancing fund in the NRB. However, the procedure has not been implemented yet. At present, Nepal Rastra Bank has a refinancing fund of Rs 60 billion.