NRB CIRCULAR Corona Virus (COVID-19)

SUMMARY IN ENGLISH

1. CRR reduced by 1% (from 4 to 3%)- will increase liquidity in the market
2. Bank rate reduced by 1% (from 6% to 5%) - cost will reduce
3. SLF rate reduced by 1% (from 6% to 5%) - cost will reduce
4. Refinancing Facility fund increased by 100 crore -help to minimize cost for most affected sector such as Hotel, Hospitality and Airlines
5. Additional Counter cycling buffer of 2% dropped for now. Now capital adequacy to be maintained @11%. This will increase lending capacity of the bank
6. Online user right and password to be provided by email free of cost.
7. Installment and Interest payment due date extended till 2077 Ashad end without any penal interest or late payment fee.
8. Short term working capital loan or Demand Loan can be extended further 60 days from maturity date.
9. Letter of Credit and Acceptance payment can be done within 7 days from the date of opening of lockdown.

Detail Circular for NRB Circular - DOWNLOAD