The Nepal Rastra Bank (NRB), Nepal’s central bank, is now allowing licensed microfinance institutions (MFIs) and non-governmental organizations (NGOs) to mobilize deposits from the general public. “The move was taken to address the possible resource constraints to the MFIs and NGOs,” said Mr Basu Dev Adhikari, director of NRB. To qualify, MFIs and NGOs must have earned profits for three consecutive years. Additionally, their non-performing loans must not exceed five percent and they must have a minimum of 2,500 members.
By Stefanie Rubin, Research Associate
About the Nepal Rastra Bank (NRB):
Established in 1956 pursuant to the Bank Act, Nepal Rastra Bank (NRB) is the nation’s central bank. NRB formulates and monitors the nation’s monetary and fiscal policy and regulates the nation’s banking and financial sectors.
Additional Resources:
Source Article: The Kathmandu Post: “MFIs, NGOs Can Mobilize Deposits Now,” http://www.ekantipur.com/the-kathmandu-post/2010/03/29/Business/MFIs-NGOs-can-mobilise-deposits-now/206680/
MicroCapital Universe: Nepal Rastra Bank (NRB): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Nepal+Rastra+Bank+%28NRB%29
Browse the MicroCapital Universe and add your entry to our wiki at https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROFINANCE PAPER WRAP-UP: “Impact of Microcredit on Household Consumption and Assets in Nepal;” by Shalik Ram Pokhrel
- MICROCAPITAL BRIEF: Non-performing Loan (NPL) Ratios Up Among Microfinance Providers in Bangladesh
- MICROCAPITAL BRIEF: World Bank ARISE Program Includes $230m Loan for Farmers in Ukraine
- SPECIAL REPORT: Leveraging Carbon Credits to Insure MSMEs in Climate-vulnerable Nations #SAM2023
- MICROCAPITAL BRIEF: Vanuatu Launches Vanklia System to Automate Large, Small Payments
