Kathmandu, September 7
The Nepal Rastra Bank has clarified it will not change the new share market policy.
Owing to a new provision on the stock market introduced in the monetary policy for the current fiscal year 2021/22, the only share market of the country, the Nepal Stock Exchange, recorded a big plunge on Sunday. After reports that Finance Minister Janardan Sharma intervened and advised the central bank’s Governor Maha Prasad Adhikari to ease the market, the Nepse index had slightly improved on Monday.
But, the central bank says no efforts have been made so far to revise the monetary policy. The bank’s spokesperson Devendra Kumar Dhakal says the policy will be revised every three months only.
The monetary policy has introduced a ceiling of Rs 120 million for loans on shares as collateral, so as to restrict big investors. This has severely impacted the share market.