Government Prepares Legal Framework to Legalize P2P Lending
Summary
Nepal is preparing legal regulations for peer-to-peer lending through Nepal Rastra Bank within the current fiscal year. The government also plans to push a wider set of budget-linked laws and reforms aimed at improving the investment climate.
Key Points
- The government plans to legalize peer-to-peer lending through Nepal Rastra Bank within the current fiscal year.
- Finance Minister Swarnim Wagle said the legal wording has been finalized by a cabinet subcommittee and will be included in the upcoming Payment and Settlement Bill.
- The current budget includes 431 actionable points, with commitments to pass around 27 laws and repeal about 15 outdated acts.
- The government says revenue collection has exceeded NPR 100 billion since the start of the fiscal year.
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