Monetary Policy to bring an increment in paid up capital requirement of microfinance

Nepal Rastra Bank has ascertained to increase paid up capital of micro finance companies in the upcoming fiscal year’s monetary policy. Concerned authorities seem sure about the increment of paid up capital of microfinance companies in the upcoming monetary policy which will be public in the third week of Ashad. As per an official of Nepal Rastra Bank , ‘ Everyone is in favour of increasing paid up capital however the  percent of increment is yet to be fixed.’Dr. ChiranjibiNepal, Governer of Nepal Rastra Bank has announced to increase the paid up capital of microfinance companies. NRB may also take decisions relating to control of interest rate of microfinances. Government has already indicated microfinance interest rate to be very high and has also suggested controlling it. Source: annapurnapost.com