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New monetary policy: Paid-up capital for banks increased
Commercial banks are now required to hold a minimum paid-up capital of Rs8 billion, according to the new monetary policy and they have to do it by the end of fiscal year 2016/17.
bookmarkCommercial banks are now required to hold a minimum paid-up capital of Rs8 billion, according to the new monetary policy and they have to do it by the end of fiscal year 2016/17.
Published at : July 23, 2015
Kathmandu
The decision was made as Nepal Rastra Bank Governer Chiranjeevi Nepal unveiled the central bank’s monetary policy for this fiscal in the Capital on Thursday. The minimum paid-up capital for commercial banks was increased from Rs2 billion.
Nepal said the paid-up capital for development banks will be fixed between Rs500 million and Rs1.2 billion as per their working area. The existing requirement is Rs640 million. Likewise, the minimum paid-up capital requirement for finance companies will be increased from Rs200 million to between Rs400 million to Rs800 million, Nepal said.
A new concept introduced by Governor Nepal is Infrastructure Development Bank, which will be a joint venture with a paid up capital of Rs20 billion.
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