Lending to ease in Real Estate Sector, central bank governor Dr Yubaraj Khatiwada

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Posted On: 2012-06-18

Lending to ease in Real Estate Sector

Nepal Rastra Bank will ease lending in the capital market and real estate sector in the next fiscal year. “Correction in lending rates will promote growth of the capital market and real estate sector,” said central bank governor Dr Yubaraj Khatiwada on Sunday.

According to him, the new monetary policy will focus on facilitating the process. “Banks and financial institutions will cut their interests in lending as their fixed deposits mature in a couple of years,” he said. Banks had taken billions of rupees at high interest rates as fixed deposits two years back due to a liquidity crunch. Interests on fixed deposits had reached up to 14 per cent.

source: The Himalayan Times,18 June 2012

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