Checkout the major updates of Monetary Policy announced today !!!!

The monetary policy for the fy 2075/76 is announced today. Checkout the major issues addressed by the policy. 

• Inflation to be kept under 6.5%, which were 7.2% and 7% resp. in past monetary years , so as to meet the Economic growth of 8%.
• Commercial Banks can procure foreign loan worth 25% of its core capital.
• Lending to priority sectors will be maintained at 25%, 15% and 10% for commercial banks, development banks and finance companies respectively.
• Banks' interest spread is to be dropped to 4.5% from 5% previously.
• BFIs can only collect maximum of 15% total deposit from single institution. It was previously 20%.
• Each commercial bank to open regional head office in all provinces.
• Commercial banks' can from a subsidiary company and request for approval from central bank for broker license.
• Borrowers getting above Rs 50 crore needs to get credit rating done whereas more than Rs 25 crore needs to complete DDA from third party before applying.
• No change in the paid-up capital requirement for microfinance.
• Spread rate for microfinance to be decreased to 6% from 7%.
• Microfinance need to act in accordance to Credit Information Bureau (CIB).
• Development banks and finance companies also required to follow NFRs standard in financial statements.