Government Prepares Law to Fix Monetary Policy Announcement Date to Shrawan 1
Summary
The government has begun legal preparations to fix the monetary policy announcement date to Shrawan 1 from the next fiscal year. Lawmakers also advanced amendments to the Nepal Rastra Bank Act while bankers pushed for changes to Section 100.
Key Points
- The government wants to fix the monetary policy announcement date to Shrawan 1, starting next fiscal year.
- The timeline was agreed during clause-by-clause discussions on the Nepal Rastra Bank Act, 2058 amendment bill in the House Finance Committee.
- Bankers and the Nepal Bankers' Association objected to Section 100, saying it can disqualify officials over minor disciplinary actions.
- The committee said it cannot revise Section 100 immediately because the current amendment bill does not cover that section.
