Government Prepares to Release Monetary Policy on July 17
Summary
The government has cleared the legal path to announce Nepal’s monetary policy every July 17 starting from the upcoming fiscal year. Lawmakers and bankers also debated proposed changes to the Nepal Rastra Bank Act, but Section 100 was left untouched for now.
Key Points
- The Finance Committee approved legal preparations to set July 17 as the annual date for announcing the monetary policy from the next fiscal year.
- The decision came during clause-by-clause discussion on the bill to amend the Nepal Rastra Bank Act, 2058.
- Bankers and CEOs have strongly objected to Section 100 of the Act, calling it punitive, and have urged amendments to both the NRB Act and BAFIA.
- Committee Chairman Dr. Krishnahari Budhathoki said the current bill cannot amend Section 100 because of legal and procedural constraints.
