FNJ suggests NRB to provide startup project loan
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has suggested Nepal Rastra Bank to provide startup project loan for the development of new entrepreneurs.
The federation has suggested for monetary policy for the fiscal year 2078-79 that 10 percent of the total investment should be provided as project collateral to provide capital to small and medium enterprise startups.
He suggested that 60 percent of the evaluation of the project could be provided. It is mentioned in the suggestion that small enterprises and start-ups should be given credit rating free of cost or at low fees and the federation should submit a report after conducting a detailed feasibility study in this regard.
The federation has also suggested that loan insurance can be arranged through the Credit Protection Corporation and the amount received from the donor body can be used as security premium to reduce the risk to the bank while disbursing the project loan.
FNJ Point no. Of the budget statement of 2078-79. It is also mentioned in the suggestion that the provision of seed capital loan provided to the young entrepreneurs mentioned in 68 to motivate them in start-up business should be implemented.
A FNCCI delegation led by FNCCI President Shekhar Golchha submitted suggestions for monetary policy to Governor Maha Prasad Adhikari of Nepal Rastra Bank on Sunday.
“Targeted refinancing for small and medium enterprises has provided a lot of relief,” Golchha suggested.
The federation has suggested reducing the fees for online payments and online payments to facilitate online payments to encourage online payments and reduce covid transitions by reducing physical presence in banks.
Also, since it is important to maintain good governance, the payment system should be expanded and managed in such a way that there is no physical contact between the service recipient and the service provider while paying for government services.
The federation has suggested the NRB to develop necessary policies and infrastructure for the expansion of credit facilities started by some banks by making loans available through digital medium as well.