e-Magazine
News
Local News
International News
Industry
Reviews
Offers
Prices
Videos
More
Photos
Interviews
November 22, 2024
Home
News
Local News
International News
Industry
Reviews
Offers
Prices
Videos
Photos
Interviews
E-Magazine
Social Media
Weather Update
Local News
The New Monetary Policy 2077/78 Won't Ignite The Auto Sector
The New Monetary Policy 2077/78 Won't Ignite The Auto Sector
Team Nepal Drives
July 17, 2020
July 17, 2020
NRB-Auto-Loan-Nepal-Featured-Image
Nepal Rastra Bank's policy to encourage banks and financial institutions to expand the limit of auto loans has continued to stay at the existing 50 percent of the valuation of a private vehicle.Unveiling its monetary policy for the fiscal year 2077/78 in the capital today, the central bank said that the limitation on vehicle and auto hire purchase loans will be the same as last year, i.e., a person buying a private vehicle will have to make a down payment of at least 50 percent of the vehicle price. NRB has barred banks and financial institutions from extending auto loans that amount to more than 50 percent of the vehicle’s price.Although auto dealers in the country have been voicing their opinions over the stringent monetary policy in recent years, the central bank has hinted at the shortage of lendable funds as a reason for tightening the cap on auto loans.The Government of Nepal has set a target of 7 percent economic growth in the budget of the Fiscal Year 2077/78. To bring the economy back from COVID-19, the government has adopted a policy to encourage credit investment in domestic, small, and medium enterprises in the agriculture, energy, and tourism sector.
Published Date: 2020-07-17 17:43:06
#Auto Loan
#EMI
#NRB
#Monetary Policy
Read more news
TVS iQube Launches Affordable 2.2 kWh Variant in Nepal, Slashing Price to Rs 2.99 Lakh
2024-11-21 20:23:59
Post Comments
popular Post
1
CFMOTO Adventure Ride 2024 Announced: Journey with the 450MT from Kathmandu to the Korala Border
2
Sharda Group and Golchha Organisation Join Forces to Expand DC Fast Charging Network Across Nepal
3
Mahindra's BE 6e and XUV 9e Electric SUVs Set to Debut in India Next Week
4
Tata Punch EV: A Jab or a Knockout?
5
BYD Nepal Celebrates Milestone: 100 EVs Delivered Amid Global 30th Anniversary and 10 Millionth NEV Roll-off
More News
Bajaj Introduces Exchange Program throughout Nepal
July 17, 2020
Leapmotor Sends First Shipment of C10 SUVs from China to the Asia Pacific Region, Including Nepal
July 17, 2020
MAW Vriddhi's Biggest Exchange & Test Drive Camp in Pokhara; Grab the Deepal S07 EV at a Pre-Budget Price of NPR 71,99,000!
July 17, 2020
Government and Private Sector Collaboration Needed for Electric Vehicle Infrastructure
July 17, 2020